FxGlory Review 2019 | Is FxGlory a Scam or Legit Forex Broker?

Read our FxGlory review to find out if FxGlory is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

2.6/ 5

Rating breakdown

Protection & Regulations
40% Complete (danger)
2.0/5
Trading platforms
90% Complete (danger)
4.5/5
Tradable Products
20% Complete (danger)
1.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
40% Complete (danger)
2.0/5
# Broker's Features FXGLORY Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review FxGlory.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FxGlory offers Online Financial Trading and Investment Services Such as N/A.

Tradable Products: Offers a modest selection of 24 currency pairs, although on their website they claim to offer a lot more.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. FxGlory is STP.

Features: Offers fixed spreads and high leverage ratio. Broker also offers VPS for 24 hour automated trading accessibility.

Executing Trades:

FxGlory allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As FxGlory offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FxGlory recommended minimum capital is $1.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FxGlory is regulated by IFSA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: Does not have any kind of regulatory oversight or offer any form of investor protection. Maintains segregated accounts and uses 256 bit encryption for security.

Account currencies: Next lets consider the Account currencies each broker offers. FxGlory offers USD different account currencies for each account types.

Account Openning: 3 types of trading account offered with a low minimum deposit requirement, Standard with $1 minimum deposit requirement and 1:30000 leverage ratio, Premium with $1000 deposit and 1:2000 leverage and VIP and VIP for 1:300 leverage. There is also a demo account.

FxGlory offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages Available: Next lets have a look at each broker's different Language options. FxGlory offers English.

Payment methods: Next lets have a look at each broker's payment options. FxGlory offers PayPal, Credit/Debit Cards, Skrill, OKPAY,Payza, Netelle different payment methods for each account types.

Deposit and withdrawal: Supports wire transfers, credit cards, e-wallets and cryptocurrency wallets, with commission free deposits. Also accepts deposits in cryptocurrencies. Withdrawal requests are processed within 24 hours and are free except for wire transfer.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FxGlory makes MT4, WebTrader available to clients.

Web & Desktop Trading Platforms: Supports the MT4 platform through download client, WebTrader and mobile app. Trade, manage your account, use Expert Advisors and stay on top of market movements.
Mobile Trading Platforms: Mobile MT4 app available for both Android and iOS. You can trade and read the news on these generic MT4 apps.

Other

Trader Education
Educational resources are limited to basic articles, a glossary and an FAQ section.

Promotions
Offers a 50% bonus for every deposit which is added automatically to your account, It’s important to note that you will have to reach a certain trading volume before you can withdraw it.

Support
FXGlory support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian. Live chat is also available and the support staff are polite and responsive.

Recup
Overall, the broker offers reasonable and competitive trading conditions on the range of trading instruments, yet with an extreme level of leverage up to 1:3000 and binary options that are also very controversial. That level of leverage is considered to be a very risky one since the capital is traded at significant risk while the opportunities and losses are multiplied timely.

Final Thoughts
We advise all investors and traders to avoid FXGLory and other brokers from St. Vincent and the Grenadines.

Trading Experience
Apart from the numerous negative reviews and complaints from the traders which had an experience with FXGlory, the company was detected for scam operations that obviously showed cases with withdrawal delays, or ignorance of the clients, as well as the market price violations. In addition, CONSOB issued a warning against the FXGLory.

People Also Asked

Is FxGlory regulated?
Yes, FxGlory is regulated by top-tier regulators, IFSA inclusive.
Where is FxGlory based?
FxGlory is based in Dubai
How does FxGlory make money?
FxGlory charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in FxGlory account?
With FxGlory you can deposit money via the following means; Cash-U, Credit Card, Moneybookers, Neteller, PayPal, QIWI, Skrill.
How do I withdrawal in FxGlory account?
FxGlory lets you request a withdrawal of funds from your account via the following means; Cash-U, Credit Card, Moneybookers, Neteller, PayPa.
What is the minimum deposit for FxGlory?
FxGlory has $1 minimum deposit.
What are the available account base currencies with FxGlory?
FxGlory trading accounts are offered in USD. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in FxGlory?
FxGlory has a maximum leverage is 1:3000 for professional traders.
How do I open an account with FxGlory?
Opening an account with FxGlory is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does FxGlory use MetaTrader?
FxGlory platforms: Yes, FxGlory use MetaTrader as well as the following platforms: MT4, WebTrader
What type of broker is FxGlory?
FxGlory appears to be a STP broker which offers market access to a variety of traders.
Does FxGlory accept US clients?
Yes
Does FxGlory offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with FxGlory: You can trade a wide variety of instruments with FxGlory: N/A

Are you Satisfied with what They Offer?