FXGlory Ltd is a forex broker that was registered and established in the United Kingdom in 2016, providing forex trading services primarily to investors. The company's headquarters address has not been disclosed. The broker does not offer services to jurisdictions where it may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
According to publicly available information on its official website, "In 2011, Fxglory was established at the UAE Ministry of Economic Development. After a year of experience in Asia, Fxglory opened new branches in some European countries. To expand its services, the broker decided to open new branches in other countries. Recently, the broker has established new offices in Saint Vincent and the Grenadines, with registration number 23463."
Upon verification, FXGlory Ltd's registered entity in the UK is Fxglory Group Ltd, with the registered address at 27 Old Gloucester Street, London, United Kingdom, WC1N 3AX. The company registration number is 10244274. This entity has not obtained authorization and effective regulation from any official financial regulatory authority. FXGlory Ltd is the registered entity in Saint Vincent and the Grenadines with a registration date of June 14, 2016, and registration number 23463. This entity is also not subject to effective regulation. Information from a Whois query indicates that the broker's official website domain was registered on January 30, 2011.
Additionally, the National Economic Register (NER) in the UAE does not show any registered entity for this broker.
Account Opening:
To open an account with FXGlory Ltd, one can visit the broker's official website, click on "OPEN REAL ACCOUNT" on the homepage, fill out the account registration form, and submit it. After submission, the broker will send an activation link to the email provided by the user, and the account can be logged in after clicking the link.
Account Types:
FXGlory Ltd offers users a demo account and three types of real trading accounts: Standard Account, Premium Account, and VIP Account.
- Standard Account: Minimum deposit of $1 ($100 on MT5 platform), minimum trade volume of 0.01 lots, maximum trade volume of 1 lot, maximum position of 20 lots, maximum leverage of 1:3000, deposit bonus percentage of 50% (up to $500), additional margin level set at 60%, stop-out level set at 50%, hedge margin set at 50%, fixed and floating spreads starting from 2 pips, no trading commissions, and no advanced VPS.
- Premium Account: Minimum deposit of $1000, minimum trade volume of 0.01 lots, maximum trade volume of 10 lots, maximum position of 100 lots, maximum leverage of 1:2000, deposit bonus percentage of 50% (up to $1000), additional margin level set at 50%, stop-out level set at 30%, hedge margin set at 50%, fixed and floating spreads starting from 1.5 pips, no trading commissions, and advanced VPS provided.
- VIP Account: Minimum deposit of $5000, minimum trade volume of 0.01 lots, maximum trade volume of 100 lots, maximum position of 200 lots, maximum leverage of 1:400, deposit bonus percentage of 50% (up to $2000), additional margin level set at 30%, stop-out level set at 10%, hedge margin set at 25%, fixed and floating spreads starting from 0.7 pips, no trading commissions, and advanced VPS provided.
Trading Platforms:
FXGlory Ltd claims to provide MT4 and MT5 trading platforms for users, but information about the broker is not available on these platforms.
Deposits and Withdrawals:
FXGlory Ltd supports various deposit and withdrawal methods, including bank wire transfer, credit/debit cards, internal account transfers, PayPal, NETELLER, Payza, among others.
Conclusion:
Traderknows cautions investors that FXGlory Ltd is an unregulated forex broker and may be involved in false advertising. It is recommended that investors choose platforms with strong regulation and a good reputation to avoid unnecessary financial losses. Currently, this broker is marked as "suspected of fraud" on Traderknows.
