Every business owner yearns to trade with a reliable platform for carrying out trade smoothly and easily. Did you hear about GlobalArabFX? It holds a good reputation as an international place suitable for trading currencies, stocks, indices, and commodities. It will offer you four different types of accounts. But the overall conditions of trading with them remain totally vague. It is better to stay away from such scammers. Do you know why? Here is the answer!
Even after being a good platform for trading, why is it better to avoid GlobalArabFX? As per our review, it hardly holds a legit license as a reliable FOREX broker. Even the reputation of the company is getting questionable day by day. As trading is done in terms of money; it will be a good option to switch on to another reliable platform to carry on with the job.
Let’s focus on some reasons why one might think they are a reliable option.
What are Some Misleading Benefits of GlobalArabFX?
Every trading company has some benefits. Similarly, some benefits of GlobalArabFX include the following:
- High and decent leverage – As a broker, GlobalArabFX offers generous levels of leverage to almost all its clients. Though it is a bit controversial part of trading that involves FOREX, traders enjoy utilizing higher ratios. Despite higher risks of losses, hardly someone minds taking the risk.
This is the reason why traders consider the availability of high leverage among benefits. Also, the cost of trading is highly pocket friendly. Traders need not drill a big hole in their pockets to carry on with their jobs. Many brokers have the reputation of offering better spreads.
- It covers various CFDs – Another quality of GlobalArabFX is the provision of various CFDs on commodities along with indices and cryptocurrencies like Bitcoin. In short, the portfolio of its products is highly rich and diversified. This is another luring option that attracts numerous traders towards this exclusive platform.
Such qualities can fool anyone into believing that GlobalArabFX is a reliable broker. But their list of advantages seems minuscule in comparison to their disadvantages. That’s why we don’t recommend trading with this broker at all.
What Pulls Traders Back while Trading with GlobalArabFX?
It is better to think twice before trading with GlobalArabFX. The reason is simple, a plethora of disadvantages in comparison to advantages! As per our GlobalArabFX Review some disadvantages that serve as eye-openers include:
- No legit license for trading – Trading is not a joke. It requires regulation and supervision. Trading with a company like GlobalArabFX that does not hold a legit license for trading will lead you to heart rendering loss.
The website features a particular address along with a contact number, but everything is vague. It is really difficult to make which company is operating the brand. The broker always says that it holds a valid registration, but cannot provide any genuine proof. It has almost all types of trappings of a typical forex scam.
- It is no more in the list of FCA clones – It is so sad to hear that GlobalArabFX is no more in the list of FCA clones. As per expert reviews, it is one among potential scammers. It is another major red flag about this particular broker. To be specific, it holds no license in offering genuine financial services in the world.
It is illegally utilizing its details while operating. It is now a clone firm and follows tactics of scams. Once you become prey to a scammer, it will be difficult to come out of the prey. Hence, it is better to go with a broker that holds a genuine license.
- Hardly any access to MT4 – Do you know that GlobalArabFX has no more access to MT4 now? Instead, it uses an online trading platform namely Pegasus that is easy in terms of usage. It has a clunky feeling. To be precise, the layout hardly seems to be professional.
The platform of GlobalArabFX is no more similar to leading industry platforms like MetaTrader4. MT4 is good in terms of reliability along with superior quality charting and expert advisors. Traders cannot expect the same in the case of GlobalArabFX. They need to take high risks, thus shooing away their peaceful night’s sleep.
- Conditions are not transparent – Whenever you come across a broker that does not present its trading conditions transparently, what you presume? Yes, it is hiding something very important. The same is the case with GlobalArabFX. As per our GlobalArabFX review, it never discloses entire conditions for trading.
It does not present essential conditions other than first-time investment on its web page. It hardly specifies spreads and levels of leverage, thus leaves a bad impression in the minds of everyone. Whenever an unregulated broker fails to reflect essential trading information pieces, it means that it is none other than a scam.
- Sky-rocketing minimum deposit– On top of everything, the sky-touching initial investment in GlobalArabFX repels top traders. Though, it may sound a small amount of money for some; but everyone searches for a place that demands low initial investments.
Top brokers will ask traders to start with low initial deposits. In case of any mishap, it will be easy to bear the loss and take the entire situation under control. Brokers demanding high initial investments are always in the list of doubtful places. People must research well before taking the next step.
These are some highly remarkable disadvantages of GlobalArabFX. It is crystal clear that clients will have to remain open to substantial risks and you become gripe while trading with this company. It is high time to direct one towards better trading options to avoid any unwanted situation.
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If you are among investors looking forward to shaking hands with a reliable broker other than GlobalArabFX dealing with FOREX, it will be good to carry out a little bit of research online and offline. There you will come across reliable financial agencies where there are higher chances of gaining luring profits. Also, every condition will be available to you in a transparent manner. It will be helpful in letting you make the best decision.
What are Various Types of Accounts at GlobalArabFX?
The various types of accounts offered by any broker are an important point in deciding the type of broker. GlobalArabFX will offer the following types of accounts to its investors:
Each of these accounts comes with a daily analysis of the market along with video libraries and regular recommendations. The availability of 24*7 customer support is also a hoax. It is crystal clear that an investor investing a higher amount will hardly get extra benefit in comparison to the one investing a lower amount. GlobalArabFX is playing a big joke with investors. Better, stay away from it.
What are Options Regarding Deposit and Withdrawal at GlobalArabFX?
It is great to know that GlobalArabFX is good at playing with the feelings of investors. How? It has numerous channels to deposit money. But, at the time of withdrawing; the actual problem will start.
None of the investors will be able to withdraw money smoothly. It is a classic move of a scammer whose intuitions are crystal clear. It is good to refrain from signing up with GlobalArabFX. As it is a matter that involves money, better to take time to get in touch with a genuine FOREX broker.