FXGlory Ltd is a forex broker registered in the UK in 2016, providing forex trading services primarily to investors. The company's headquarters address has not been disclosed. This broker does not offer services to jurisdictions where doing so would 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 under the Department of Economic Development of the UAE. After gaining experience in Asia for one year, Fxglory opened new branches in several European countries. To expand its services, the broker decided to open new branches in other countries. Recently, the broker established a new office in Saint Vincent and the Grenadines, with registration number 23463."
Verification shows that FXGlory Ltd's registered entity in the UK is Fxglory Group Ltd, with a registered address at 27 Old Gloucester Street, London, United Kingdom, WC1N 3AX, and a company registration number of 10244274. This entity has not obtained authorization or valid regulation from any official financial regulatory agencies in its jurisdictions. FXGlory Ltd is the registered entity in Saint Vincent and the Grenadines as of June 14, 2016, with a registration number of 23463, which is also unregulated. According to Whois information, the broker's website domain was registered on January 30, 2011.
Furthermore, the broker's registered entity is not found on the UAE's National Economic Register (NER).
Account Opening:
To open an account with FXGlory Ltd, visit the broker's website and click on "OPEN REAL ACCOUNT" on the homepage to access the account registration page. After filling out and submitting the account registration form, the broker will send an activation link to the provided email address. Clicking on this link will enable account login.
Account Types:
FXGlory Ltd offers a demo account and three different types of real trading accounts: Standard Account, Premium Account, and VIP Account.
Standard Account: The minimum deposit amount is $1 (or $100 on the MT5 platform); the minimum trade volume is 0.01 lots, the maximum trade volume is 1 lot, the maximum position size is 20 lots, and maximum trading leverage is 1:3000; the deposit bonus percentage is 50%, with a maximum bonus amount of $500; the margin call level is set at 60%, stop-out level at 50%, and hedging margin at 50%; offers floating spreads starting from 2 pips; no trading commissions are charged; no VPS is provided.
Premium Account: The minimum deposit amount is $1000; the minimum trade volume is 0.01 lots, the maximum trade volume is 10 lots, the maximum position size is 100 lots, and the maximum trading leverage is 1:2000; the deposit bonus percentage is 50%, with a maximum bonus amount of $1000; the margin call level is set at 50%, stop-out level at 30%, and hedging margin at 50%; offers floating spreads starting from 1.5 pips; no trading commissions are charged; provides VPS.
VIP Account: The minimum deposit amount is $5000; the minimum trade volume is 0.01 lots, the maximum trade volume is 100 lots, the maximum position size is 200 lots, and the maximum trading leverage is 1:400; the deposit bonus percentage is 50%, with a maximum bonus amount of $2000; the margin call level is set at 30%, stop-out level at 10%, and hedging margin at 25%; offers floating spreads starting from 0.7 pips; no trading commissions are charged; provides VPS.
Trading Platform:
Although FXGlory Ltd claims to provide MT4 and MT5 trading platforms on its website, the broker cannot be found on the MT4 or MT5 platforms.
Deposits and Withdrawals:
FXGlory Ltd supports a variety of deposit and withdrawal methods including bank wire transfers, credit/debit cards, internal account transfers, PayPal, NETELLER, and Payza among others.
Conclusion:
Investors are cautioned by Trading Circle that FXGlory Ltd is an unregulated forex broker that is potentially involved in misleading promotions. It is advised to trade on platforms that are well-regulated and reputable to avoid unnecessary financial losses.
Currently, this broker is flagged as "suspected fraud" on Trading Circle.
