Website – https://www.fxgm.com/
Address – Cyprus
Warned By – Cyprus Securities and Exchange Commission (Cyprus)
Read the FXGM review and know why we put this broker on the list of scam brokers.
FXGM Review: Introduction
FXGM is an online trading platform that claims to be a leading online trading provider that offers customers the ability to trade forex, currencies, shares, stocks, and commodities through CFDs. The website is found at https://www.fxgm.com/, and the company is located in Cyprus. They can be contacted by email at email@example.com and firstname.lastname@example.org or by phone at +35722030082. FXGM claims to be a legit forex broker, but in reality, it is an unregulated scam broker. Read a complete FXGM Review to know more about this broker.
FXGM Review: Regulation
To avoid cryptocurrency scams, forex scams, investment scams, romance scams, gift-card scams, and other online scams, it is crucial to verify the broker’s regulated license on the regulator’s website before trading with an FXGM broker or any other broker. Before putting money into an online trading platform, you should also check the list of forex or cryptocurrency scams. FXGM is not only an unregulated broker but is also involved in scam activities. A public warning is issued against this broker by the regulatory authority of Cyprus—Cyprus Securities and Exchange Commission (CySEC). Moreover, their CySec license also has been suspended.
Awards and Recognition
FXGM has been operating for several years since 2011, but on its website, it does not mention its awards and certificates. It is a major red flag whether they are reliable or not.
FXGM Review: Deposit and Withdrawal Method
The minimum deposit amount of the FXGM is $100, and the deposit and withdrawal methods are credit/debit cards, wire transfers, and Skrill. There is no demo account offered by FXGM.
FXGM Review: Trading Account
FXGM offers a WebPROfit and Mobile PROfit trading account to its users. There is no MT4 or MT5 trading account. Most legitimate brokers offer MT4 or MT5 trading accounts, which have very advanced tools and are easy to operate.
How does the FXGM scam work?
Through social media platforms or online advertisements, scam brokers may approach you about starting an investment relationship while promising to generate a tidy profit. When you click on these advertisements, scam brokers will phone you and demand an initial deposit and your bank account information. After that, they will continually ask for more money. However, when you want to withdraw your money, you’ll discover that the brokers are frauds who have taken all of your money. Scam Helpers urges you never to believe these false advertisements and to withhold your personal information unless you have verified a broker’s regulated certifications. Otherwise, you risk losing your hard-earned money.
On all other review websites, FXGM received bad comments. Scam Helpers discovered that FXGM does not operate like a professional broker and may be involved in dubious activities such as cryptocurrency scams, forex scams, or other scams. After reviewing all the positive and negative FXGM reviews, Scam Helpers decided to include this broker on our list of scam brokers for 2022.
FXGM Review: Conclusion
You can submit a chargeback for fund recovery if you were a victim of an FXGM scam or any other online scam. Fill out a complaint form on the Scam Helpers website. Our experts will provide you a free consultation, and we will guide you in the process of fund recovery. If you feel you are scammed – Report a complaint here
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