Recently, some investors have reported that GloverFX is unable to withdraw their funds.
According to the broker information on the FxGecko app, GloverFX has at least 4 significant high-risk signals as follows.
1. New.
GloverFX's website was created in July 2022, which is extremely unreliable for such a newly created trading platform. Why is that? If you are interested, we will post tomorrow to tell you why.
2. Anonymous.
GloverFX's website does not disclose the name of the company they belong to and details such as valid registration information, regulatory information, etc. It is almost anonymous, which means they can disappear at any time and it is difficult for law enforcement to verify their identity and background. High risk!
3. Unregulated / False advertising.
GloverFX's website shows its address in El Salvador and also claims to be regulated by the FCA and CySec. Upon verification this can be found to be false, they do not have a valid brokerage license and companies like this that are not licensed to provide online brokerage services cannot provide any kind of protection for their clients. High risk!
4. Advertise unrealistic investment opportunities.
Most current investment scams in forex trading or cryptocurrency trading lure investors into a trap by promising unrealistically high returns. gloverFX is no exception.
Reminder: The trading market is full of uncertainty, do not blindly pursue high returns. And always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely to be scams.
We recommends that you always perform due diligence and verify information about the trading platform's qualifications before investing.
Stay away from new, unregulated, low-rating and high-risk trading platforms to avoid potential scams.
You can check the regulatory information and risk information of brokers worldwide on the FxGecko app.
Also, you can file a complaint or ask about any suspicious trading platforms on the FxGecko app.
Click here to recognize common investment trading scams to avoid being scammed.
Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.
