If you are a forex trader or you are considering being one, you will need the best forex trading platforms available. As you might have known, regulated and licensed platforms are the best option to pick when you want to start trading. However, not all websites or platforms are legit as some of them turned out fraudulent in a diverse spectrum. You certainly don’t want your hard-earned money stolen.
We’ve reviewed some websites that some traders have been curious about for a while. Let’s see whether they’re legit and worth trying for your trading experiences.
Orbit GTM
While the online broker claims to have a Dominica registration, the country cannot regulate FX brokers as they don’t have a corresponding regulator. On the other hand, OrbitGTM isn’t licensed there in any form. OrbitGTM is an unregulated platform or broker. It’s a sign that the company hasn’t met the requirements of regulation anywhere in the world.
Our Orbit GTM reviews reveal that Payment methods are lacking options and credibility when you’re trying to withdraw your funds. Credit cards, wire transfers, and BTC wallets aren’t used for withdrawals, only for deposits. Regulatory law states that users can only withdraw via deposit methods. Users will oppose AML legislation otherwise. These show Orbit GTM isn’t legitimate.
365falcon
An online forex broker called 365Falcon claims to be able to help novice traders become experts. However, 365falcon is actually not a genuine broker, but rather an updated version of a well-known scam. Our 365falcon reviews find that nowhere in the world regulates or licenses 365 Falcon to operate officially in the country. This is certainly a straight red flag if you’re looking for legitimate and credible forex brokers to use.
Two of the most popular trading platforms in the market including MT4 and MT5 aren’t supported by 365Falcon. Shady sites like PayPound, NeoBanQ, and Payonera which are used by a slew of bogus brokers, are accepted as deposit methods. While making a deposit is super easy, withdrawing your money is quite the opposite story. There are experiences of investment losses and unaccountable fee charges.
GocryptoFX
Gocryptofx is a crypto exchange and forex trading platform. They appear to primarily target customers in the United States and European countries using social media marketing and personal telemarketing. However, our gocryptofx.com reviews found that Gocryptofx is known to offer HYIP (high-yield investment program), which has a strong possibility of scam.
Gocryptofx.com may be breaking the law if they are advising or providing you with trading or investing options. They don’t disclose or demonstrate the trading software or platform they’re using. You should check with a trusted regulatory body in your country whether or not Gocryptofx is legit.
Trade1960.com
Trade1960 claims to be the most up-to-date and widely used trading platform available. It’s possible to access the platform through three different applications including websites, Android, and iPhone. Stocks, currencies, commodities, and indices are some of the most commonly traded assets in Trade1960. The platform is currently findable but has less exposure on Google.
While it looks legit, we can’t find the platform registered, regulated, or licensed anywhere in this world. There are also some reports about red flags of trade1960.com reviews regarding the withdrawal, account balance, and other issues. If you want to use trade1960, you better deposit the amount of money that you’re willing to lose. Trade1960 isn’t conclusively a scam trading platform but it’s apparently an unregulated one.
Payback-ltd.com
payback-ltd.com claims to be a reliable fund recovery service company serving diverse clients online. They assured clients that they will be able to get their funds without a hitch. As it turned out, they were only using a delay technique to prevent the credit card company from recouping the funds. They don’t have special techniques or strategies or even willingness to proceed with the chargeback. Their bad reviews tell us the truth.
All of the payback-ltd.com reviews are from recent input and don’t look natural. They could be fake reviews posted by design. You will never get your money back from them, but you may be required to pay fees. The worst part is that you’ve been duped twice once you’ve filed a case and made payment.
Bitcove.ie
Bitcove.ie is an Irish Bitcoin exchange platform that has started gaining popularity not only in the country but also globally. Our bitcove.ie reviews find that the platform enables users to buy and sell bitcoin instantly, securely, and practically. Purchasing Bitcoin with fiat currencies is easy but selling your coins could be slightly challenging. It’s because the selling fees are generally higher while the process can be slower than other comparable exchange platforms.
Apparently, Bitcove.ie is a legit Bitcoin exchange but might not be as convenient as other competitive exchange platforms due to its high selling fees and slow selling process. If you’re looking for a competitive Bitcoin exchange, Bitcove.ie is certainly not the best option available. However, it may be an option if it is the only available platform or if you require instant Bitcoin purchase.
While finding legit forex trading platforms is important, you should also know how to report fraudulent websites as a part of social responsibility in creating a healthier forex trading ecosystem online. We don’t have to investigate things and/or risk our data but we can simply file a report over alleged or proven fraudulent or scamming activities conducted by forex trading companies or online brokers.
JTL-Global.com
While jtl-global.com actually exists and provides trading services, our jtl-global.com reviews have found that the company is not licensed or regulated and certainly among fx trading platforms with the lowest exposure on Google. The platform has also banked some reports of being fraudulent. Mostly, the platform is reviewed for not being transparent about the withdrawal and scamming of people.
Some clients are reporting some successful withdrawals, but the tax must be paid upfront before you can proceed with your request. However, more voices are sounded about how jtl-global.com is actually scamming people. You’d be required to invest more to get more profits from your forex trading but they would lock your funds instead.
Generally speaking, jtl-global is a risky fx trading platform option for two strong reasons. First, the company isn’t regulated or licensed anywhere in the world. Second, they have unconvincing exposure based on customer reviews and what we’ve found. So, It’s certainly not the best option on the table. It’s safer to choose more reputable trading platforms than using jtl-global.
Wealth Sailing Forex
Wealth Sailing Forex is supposed to be an investment management and forex trading platform. However, our Wealthsailingforex reviews find that it’s difficult to see how Wealthsailingforex.com can be a good place to start investing. In addition, the software accessible for investment lacks credibility. Because of the company’s many resemblances to scammers, it’s not reasonable to anticipate any special treatment from them. There is a guarantee of professional analysis from the company. According to untrustworthy sources, the same information is available.
In spite of this, they are unable to demonstrate transparency in their business practices. Any information about the company’s founders or staff members is not available on its website. In addition, the level of investment management proficiency and skill are big question marks. The only way to show that you rely on trading instructions from people who know how the market works is to show that you have some kind of qualification.
Mtexcoin-global
There’s currently no information about the trading platform. If you’ve heard about the fx trading platform named mtexcoin-global, then you might have wondered whether it’s a legit one. We’ve checked this domain and the website isn’t even reachable. It’s also strange when it comes up quite recognizable while the company isn’t existing, not even with a backup business site. At this point, it’s not even possible to verify the company profile of mtexcoin-global.
Besides, our mtexcoin-global reviews have revealed that mtexcoin-global wasn’t even a forex trading platform and there are no adequate sources or exposure to identify how credible their services are. Be Careful if you’re suggested with mtexcoin-global because it’s not an existing platform and you might have been scammed. More straightforward options are available if you’re looking for a forex trading platform.
ZG-coins.com
ZG.com is a Cayman Islands-based cryptocurrency exchange. If you have a smartphone, you may download the ZG.com app. Anyone who trades while on the go can benefit from this. The great majority of bitcoin deals are carried out on desktop computers, according to research. However, if you consistently use your mobile phone, the ZG.com app might be just what you’ve been looking for! Mobile access to the trading platform is possible on Android and iOS devices.
You better consider the withdrawal cost when picking an exchange to trade on. It’s common for the withdrawal fee to be a predetermined sum regardless of how many cryptocurrency units are removed. However, it is estimated that the withdrawal cost charged by ZG.com is almost half less than any comparable platform. You pay almost no fee for your deposit to your ZG account.
ZG.com is generally a legit and competitive cryptocurrency exchange platform. However, our zg-coins.com reviews have concluded that ZG.com isn’t a forex trading platform and doesn’t have fiat currency assets to trade. They also don’t have any service related to forex at all. On the other hand, the website is barely accessible due to the language barrier. If a forex trading platform is what you’re looking for, you should exclude ZG.com from your list for sure.
Ethliquidmining8.com
ethliquidmining8.com is an ethereum-based liquidity mining pool platform. Like other cryptocurrency mining pools, you can join other miners to secure block completion on the Ethereum blockchain. In this platform, you’d contribute to the pool by supplying liquidity to the DeFi and receiving awards. While it’s considered a more economical and reasonable way to earn coins for individuals, many of these platforms are essentially scams.
ethliquidmining8.com is certainly not a forex trading platform and the company doesn’t have any service related to mining. Our ethliquidmining8.com reviews also found that the site has a very low exposure in the industry and is considered suspicious. Be careful of any offerings under or using the name ethliquidmining8.com. Even if you’re looking for a mining pool, please use the reputable and credible one.
Futureguard.com
Futureguard.com is an investment company but apparently not regulated anywhere in the world. We can’t find any legit URL to their official website or online application. Their operation is suspicious with the high possibility of being a scam. Even their social media account has a very low exposure which might show how low the scale of their business or attempts.
Our futureguard.com reviews conclude that the site isn’t straightforwardly a forex trading/brokerage platform and the minimum sources inform us almost nothing about their services. If you’re looking for an investment company with a background in forex trading, you can certainly have better options than looking further at futureguard.com.
Piptradex Reviews
Forex, commodities, indices, and equities may all be traded with Piptradex as it is a multi-asset broker. To open a legitimate trading account, the multi-asset broker does not specify a minimum deposit amount but they offer a demo. The company claimed that Piptradex Investment has been regulated in Malaysia, the EU, Malta, the British Virgin Islands, Vanuatu, Saint Vincent and the Grenadines, according to its official website. Unfortunately, none of these countries has regulated Piptradex.
In spite of its claims to regulation, our Piptradex reviews conclude that the site is a bogus broker. On its website, it also features fake testimonials and awards. Free demo accounts with licensed companies are available for those interested in legitimate investment and trade. The legit demo accounts allow you to actually demonstrate trading currencies.
Royalstox.com
First of all, royalstox.com comes as a brokerage company based in Saint Vincent and the Grenadines but they’re neither regulated nor licensed in any way. While their website and white paper look very good, royalstox.com has easily earned dominant-negative reviews over their services. These certainly raise red flags and you should halt anything you’ve started with this particular platform.
There isn’t much more to say about royalstox.com reviews as we found the truth. In every way, they are a scam, triggering all alerts about forex-related scammers. To even try out their service, you have to put up money upfront, and half of the information you need to know is hidden. Even if the service might have enough security, you’d lose your money.
Goldenfex
Also based in Saint Vincent and The Grenadines, GoldenFex comes out as a top-notch brokerage platform. Our Goldenfex reviews conclude that they provide almost flawless trading services and experiences to the users. It’s free to use, and even premium accounts don’t cost a lot of money. A simple and straightforward registration process makes it easy to join and start your trading experience. Most importantly, GoldenFex employs the legit trading software, MT4 so the whole process and result can be validated.
In addition, GoldenFex provides educational and analytical benefits to help traders improve and make correct trading decisions. It does all of this while maintaining a high level of safety. Last but not least, even the less important components, such as funding your account and the platform itself, are of the highest quality.
