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ForexGrand Review - is it scam or safe?

ForexGrand Review - is forexgrand.com scam or good forex broker?

RATING: 1.2 / 43 REVIEWS
ForexGrand is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Basic $250 0.01 1:300 From 2.5 pips
Gold $1 000 0.01 1:300 From 1.5 pips
Platinum $50 000 0.01 1:300 From 0.5 pips

 

ForexGrand offers its clients several account types, depending on their initial deposit. All of them provide commission-free trading with leverage up to 1:300 and variable spreads on the MetaTrader 4 platform. Micro tradeable lots are also available, as well as swap-free services.

 

While the maximum leverage provided by ForexGrand is average for the forex market, the minimum initial deposit is comparatively high for a broker that is not regulated. With Cysec-licensed broker FXCM, for example, one can open an account with just $5.

 

We tried out ForexGrand’s services via a demo account, and found the spread on EUR/USD was around 1.8 – 1.9 pips. Taking into account that most brokers provide spreads within the range of 1.0 – 1.5 pips for this pair, this is not a very good pricing. By comparison, FXTM’s spread for this pair is averaged 0.7 pips and features a commission of $4 round trip. Nonetheless, the comparatively high spreads of ForexGrand are not its biggest disadvantage – it is the lack of proper financial regulation.

 

The Company. Security of Funds

 

Company

Country

Regulation

Nordic Pearl Limited

Bulgaria

N/A

 

ForexGrand is a broker, offering online trading in more than 70 currency pairs, over 30 CFDs (on indices, commodities, stocks and cryptocurrencies) on the widely used MT4 platform. It claims to provide a pure STP environment, however we are not sure this is the case, as the broker does not hold a forex broker license and we cannot tell which exactly is the company behind the ForexGrand brand.

 

The “About Us” section on the broker’s website is a presentation of a fictional character named Mr. Grand, which some may find amusing, but according to us this is purely an attempt to distract potential clients’ attention from the fact that adequate and relevant information about the company behind the brand is missing.

 

According to the information on its website, the brand is operated by Nordic Pearl Limited - a company headquartered in Bulgaria, which, however, is not regulated by Bulgaria's Financial Supervision Commission (FSC). The phone number provided, however, includes the country code of Switzerland. Furthermore, the broker claims that clearing and billing services are carried out by a company based in Montenegro - Las Processing D.O.O. To make matters even more complicated, the name of yet another company appeared when we downloaded ForexGrand’s MT4 - Grand Services Ltd.

 

Such lack of clarity and transparency in a broker immediately reduces its level of credibility. The important thing is that ForexGrand is not licensed to provide financial services by any authority and therefore doing business with it is risky. Non-regulated and offshore regulated brokers should be avoided as a general rule, and it is not a secret that many of them are pure scams.

 

That is why we would advise you to select a forex broker licensed in UK, or Cyprus, for instance, where regulation is strict and there are compensation schemes, which will protect your money if your broker becomes insolvent.

 

Trading Platform

 

Like most brokers, ForexGrand supports the popular MetaTrader 4 (MT4).

 

MT4 has been around for over 10 years and it seems its popularity is not going away, although its developer MetaQuotes is trying to out-phase it and focus MetaTrader 5. The MT4 is easy to use, and yet offers full set of professional trading tools: solid charting, a number of technical analysis indicators, extensive back-testing environment, and various automated trading (EAs).

 

 

ForexGrand’s MT4. Click to see a larger image.

 

Methods of Payment

 

ForexGrand offers its clients 2 payment methods: bank wire transfer and via credit/debit, and e-wallets WebMoney, Perfect Money, OKPAY, Qiwi, cashU, and Yandex Money.

 

Conclusion

 

ForexGrand is a MT4 forex broker whose product portfolio is quite rich. Its main disadvantage is that it is not regulated and it is not clear which is the company behind the brand. Besides, ForexGrand’ s spreads are above the average, and the minimum investment required is a bit high. To sum up the above:

 

Pros Cons
MT4 platform available Not regulated
Rich product portfolio Comparatively high spreads
  Relatively high minimum initial investment required
  It is not clear which is the company behind the brandwhere are its headquarters, etc.

 

Latest news about ForexGrand
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Traders` reviews for ForexGrand

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Forexgrand are thieves

Invest with Forexgrand only if you want to lose all your money

sunss 07/05/2018

ForexGrand - Combination of cyber crime and scam

They contacted me first by phone and in the beginning provided quite useful guidance. The scam started when they offered a "promotion" if I fund the account to the next level. Then a relatively high "bonus" appeared on my account, presented as credit.
The cyber crime is that their "account managers" in fact are technically allowed to open orders on your own MT4 account, which orders then are eating up the margin into the credit or to zero. All data pretends that these are your own trades.
Their latest trick is that if I submit a withdrawal request they repeatedly decline it on "missing voice approval", which means the "manager" calls you and you should confirm it by phone. Only nobody calls.
STAY AWAY FROM THEM!

andras 07/02/2018

they don`t pay back money

They never answer mail of support and compliance, then never call back and the don`t do withdrawals - danger!!!

peter ralser 06/06/2018

ForexGrand - a pure scam

I opened an account (#2108970893) deposited $350 (Referred by one Tony Bryner and referred to one Franck Russo, who even knows if that their real name). traded the account to a balance of $683.3, due to my initial doubt of ForexGrand I stopped trading and placed a withdrawal of $100, got a mail That my withdrawal was declined, I place a second withdrawal same amount ($100), and got a mail that it has been approved and then the funniest thing happens I got a mail that my fund have been transferred to "your E wallet". which I don't have, I withdraw the remaining balance after approval my balance starts reading -683.3 USD. and a have not seen any cent of my money. any time you withdraw you get respond after about 7 days and their phone number is straight to voice mail, no chats available on their site. PLEASE STAY AWAY FROM FOREXGRAND THEY'RE SCAMMERS!

Ibrahim David Malgwi 05/29/2018

pensionata

anch'io sono stata truffata e dopo 3 mesi lunedi mi ha chiamato andrea forexgrand dicendomi che purtroppo avevo perduto i fondi(200€) ma che loro avevano ricoperto e che mi avrebbe telefonato il giorno dopo x fare delle operazioni e siccome io gli dissi che avevo perso le speranze mi raccomando di non perderle e che ci saremmo sentiti il giorno dopo ancora aspetto. LADRI E TRUFFATORE CHE DIO VI BENEDICA

Translated by Google:

I too was scammed and after 3 months Monday called me andrea forexgrand telling me that unfortunately I had lost the funds (€ 200) but that they had covered and that I would call the next day to do some operations and since I told him that I had lost my hopes I recommend not to lose them and that we would have felt the next day I still wait. THIEVES AND SCUFFER THAT GOD BLESSES YOU

parisi maria croifissa 05/16/2018

Lost

Don't believe what people there are telling you, they pick everything from my account. It's a scam.

Igursteinnpalsson 04/23/2018

Dott

ALberto Gallo truffatore e ladro usa la sua indiscutibile competenza e ipocrisia per spingervi ad investire. Vi fa guadagnare davvero solo che poi si prende tutto.Non so se la compagnia sia connivente in ogni caso io li ho denunciati.

Translated by Google:

ALberto Gallo scammer and thief uses his indisputable competence and hypocrisy to push you to invest. It makes you really only earn that then you take everything. I do not know if the company is conniving in any case I have reported them.

Antonio Balzani 04/16/2018

Forex Grand truffa

alora vi spiego una cosa chi ha perso dei capitali sula forex grand mi po scrivere qui e vi porto io da forex grand perche la forex grand si trova in albania e tuttio i consulenti che si fingono che sono a londra in realta non sono a londra ma si trovano in albania e ha parechie afiliati in albania io conosco personalmente forex grand perche ho dei miei canali anche a Qel grandisimo pezzo di merda del consulente che si chiama alessio li faccio sapere che spendero altri 20k per trovarti di persona pexxo di merda e ti trovero ok pezzo di merda che non siete altri che pezzi di merda vi divertite con I nostri soldi bastardi sta arivando la tua ora grandisimo figlio di puttana ripeto a tutte le persone che anno perso su questa societta cjhe in realta non si perde ma loro spariscono io so come rintraciare a questio pezzi di merda scrivetemi qui che vi mandero dei vidio e dei indirizzi ben precisi in albania cosi si tolgono dai coglioni grandisimo pezzo di merda cominciati a preparare che sta per arivando il grande giorno

Translated by Google:

I'll explain to you one thing who lost some capital on the Forex Grand me write here and I take you Forex Grand grand because the Forex Grand is in albania and all the consultants who pretend they are in London in reality are not in London but they are in Albania and have parisie afiliati in Albania I know personally Forex Grand because I have of my channels also to Qel grandisimo piece of sh*t of the consultant called Alessio I let them know that I spend another 20k to find you in person pexxo sh*t and I'll find you ok

DIEGO 04/13/2018

ForexGrand Withdrawal

I send a withdrawal request 343,42 over the forexgrand platform. Informed the account managers, the account and withdrawal department and the support several times. They told me my money will be in my real banking account in 7-10....It is now 16 days!!! I haven't seen my money yet. And will not see it anymore.

Dorothee Stein 04/12/2018

Misuse of my email adress

Sombody gave a statement about Forex Grand using my email adress without my knowledge.
I´m with Forex Grand for almost one year now.I can only tell that my account manager was and is always very caring. When losses ocurred due to my irresponsible trades he and the company instead helped me out of the situation and enabled and supported me in an amazing way so that I could come out of my losses.
I clearely distance from the statements some deceiver made misusing my email data and Forex Grand.
Lars Hessenkamp

Lars Hessenkamp 04/10/2018

mettici una croce sopra xxx

Come molte altre società si è rivelata una truffa con un contorno di "dipendenti" falsi,spergiuri e alcuni anche ladri.

Translated by Google:

Like many other companies it turned out to be a scam with an outline of "employees" fakes, perjuries and some even thieves.

raffaele grimaldi 04/04/2018

truffa'

e normale che il broker della ForexGrand ti inviti chiaramente a depositare piu' soldi perché dice che ha delle informazioni di investimento e per entrare in possesso di queste informazioni e per partecipare devi avere un capitale più sostanzioso?

Translated by Google:

Is it normal that the ForexGrand broker clearly invites you to deposit more money because he says he has investment information and to get hold of this information and to participate must you have more substantial capital?

roberto bollini 03/19/2018

taken loan

An Account manager of Forex Grand made me take a loan ba promising me time and again that gaining of 30-40% is average and after the first month it would be possible to withdraw at least 20% of the invested amount monthly.
He was very firendly, called me 2-3 times a week. Hoping to clear my heavy commitments that way he made me to invest 30.000,-€. Now since six weeks no reactions neither to my calls ( three different numbers ),nor to my e-mails..Is it possible to do something?
Best regards Lars

Lars Hessenkamp 03/05/2018

100% scam

Please don't deposit any money with this scam broker, because you'll never see it again(unless you're successful with a chargeback). And if a Klaus Muller([email protected]) contacts you, just hang up.

Liam 02/26/2018

Grande Truffa

I consulenti(cosi si autodefiniscono)sono dei veri truffatori sicuramente istruiti dal sistema ForexGrand.Io ho avuto tre consulenti che hanno seguito il mio conto sulla piattaforma MT4(Angelo Veronese, Fabio Ambrosetti, Alberto Gallo.) probabilmente nomi falsi,i primi due incompetenti, il terzo un Grande TRUFFATORE.Dietro grandi promesse di guadagni,ho investito più di 10.000 euro che sono stati manipolati direttamente da loro e specialmente dal Gallo,il quale mi ha impedito di intervenire,e quando si è raggiunto un guadagno di 20.000$ e io ho chiesto il ritorno di 10.000$,il malandrino con una sola mossa mi ha fatto perdere tutto.Quindi fidandomi stupidamente ancora di questo imbroglione ho ricostituito il conto, perchè ho pensato fosse stato un caso sfortunato ma appena appena si è arrivati ad un utile di 16.000$ ed io ho richiesto il ritorno di 10.000$ il Truffatore Alberto Gallo con intervento personale mi ha nuovamente perso tutto nel giro di poche ore.La persona da quel momento è scomparsa.Dopo una settimana mi contatta un quarto consulente che ha avuto il coraggio di chiedermi altri depositi,offrendomi la possibilita di recuperare il denaro perso esattamente come mi era stato offerto dai tre predecessori.In conclusione non fidatevi assolutamente di FOREXGRAND perchè è una TRUFFA e i vostri soldi non li recupererete mai più.

Translated by Google:

The consultants (so they define themselves) are real scammers certainly instructed by the ForexGrand.Io I had three consultants who followed my account on the MT4 platform (Angelo Veronese, Fabio Ambrosetti, Alberto Gallo.) Probably false names, the first two incompetent , the third a great TRUFFATORE.Dietro great promises of earnings, I invested more than 10,000 euros that were directly manipulated by them and especially by the Gallo, which prevented me from intervening, and when it has reached a gain of $ 20,000 and I asked for the return of $ 10,000, the Marauder with a single move made me lose everything. So still stupidly trusting this cheater I reconstituted the bill, because I thought it was an unfortunate case but just as soon as it came to a profit of $ 16,000 and I requested the return of $ 10,000 the Truffatore Alberto Gallo with personal intervention again lost me all within a few hours.The person from that mome After a week he contacted me a fourth consultant who had the courage to ask me other deposits, offering me the chance to recover the money lost exactly as I had been offered by the three predecessors. In conclusion, do not absolutely trust FOREXGRAND because it is a SCAM and your money will never recover them.

Ornello V. 02/25/2018

They refused to return my initial capital

Dopo aver promesso grandi guadagni, e ci sono stati, hanno richiesto altri depositi per poter prelevare i soldi.... Quando ho rifiutato mi hanno minacciato di bloccare il conto, cosa avvenuta e hanno rifiutato anche di restituire il mio capitale iniziale, prendendosi tutto.

Traslate by Google:

After promising big profits, and there have been, they have requested other deposits in order to withdraw the money .... When I refused they threatened to block the bill, what happened and they also refused to return my initial capital, taking everything .

Mau 02/02/2018

Non responsivt and lost large amounts trading risky

FOREX GRAND offers to trade your money and claim 80% succes rate. Fact is that even I asked for a controller risk strategy and allowed them to trade, once they came in minus and I e-mailed my koncerns they stopped replying until I had lose 25,000 USD. They have still not replies and there is no authoity you can contact avout this. It is a scam and they take the margins and will lose your money fast. Worst trading decision I have made, should have kept to my own small but steady strategy.

I would not recommend Forex Grand, they do not reply and they only trade high risk with your money. Bad service, no way to get your money back and they even will not allow you to withdraw easily - all only after you talk to someone who will claim to bring back your money with less risk (which they didnt).

SCAM

Frederik 01/31/2018

Big Scam

Absolutely a scam . They stop calling you or contacting you . I am just trying to withdraw my principle amount for which they keep giving lame excuses. Ignore you till you give up. PLEASE DO NOT INVEST MONEY ON FOREX GRAND

Jose Alex 01/23/2018

Scam

Lost 2000 dollars with unreliable broker Terry Smith at Forex Grand big scam
!!!!!!

Kerstin 01/08/2018

cliente

dopo quasi tre mesi di contatti telefonici e depositi vari, pur essendo in attivo non riesco a prelevare alcuna somma dai profitti maturati...penso siate una compagnia disonesta!

Translated by Google:

after almost three months of telephone contacts and various deposits, despite being active I can not withdraw any sum from the profits accrued ... I think you are a dishonest company!

Mauro Macrì 01/08/2018

Scam

Forex Grand is Definitely a Scam. I lost some money there and it has truly been a learning experience. I was contacted by Marketsignals who claimed that they wil get someone who can earn you income on a monthly basis. Then I was referred ofr to Forex grand. Jim Donevan was contact there who after requesting a small deposit, requested more funds after completing a few profitable trasnaction. His rationale is that more money makes more money. CLose to the end of the year the so called transactions were huge constant losses bringin my account to 0. Then he called to request I put more money in. Total Scam!

Felix 01/05/2018

run away

I invested 3k, first weeks I and my broker rise money to amazing 10k... but all the time they push me deposit more money, I told them I wish to make small windrawl, but they dont verify my account for a month. In that period we rise my balance to 30k and once they understand that I not gonna deposit more money they change my laverage to 1:100 and my broker advise me to open a trade with huge risk, after few hours I was in 30k loss and desperate me straight away deposit 6k coz my account blow up in a second. Broker name: Edi Cooper. He make amazing job coz he advise me for a lot profitable trades, but just he understand I not gonna put more money he burn my money in a second. Company are not regulated, registered in marshalls island in the midle of pacific ocean....

run away 12/28/2017

Broke

Benjamin Henderson managed(!) to do away with ca. €30,000 for me. I didn't get a cent. Now I'm dead poor and have an about €6,000 loan. I won't be able to pay this back as I'm near a pensioners age. I asked FG to help me but nothing. Every email I sent to their Support they sent to Benjamin in Zürich.

Kjell Eriksson 12/21/2017

Unable to withdraw funds or get hold of company

I think that this company is at best evasive and at worst a bunch of crooks. I cannot get hold of anyone and my withdrawal requests are ignored or rejected.

The same as Allen Bilow, my broker Tony Bryner (their VIP BROKER) is clearly a liar a fraud a scammer and a rip off artist. There are people in this company that are just laughing at us. I am not convinced they are doing anything other than robbing people.

Do not use this company. They are scum, along with G8 Markets, Nexcap Index and many of the other similar companies who have stolen money from me this year.

Giles Baron 12/14/2017

complain

i used there services i traded my acct to 90,000 usd and when it came to taking out the money they completely abandoned me Suddenly there was no more communication. My broker Tony Bryner there VIP BROKER placed a handful of bad trades while i was sleeping and i woke up and saw 73,000 usd gone and before i knew it my acct was gone and is now at 118 USD SO DON'T USE THEM! I never even got a response from forex Grand support or anything

allen bilow 12/04/2017

Forex Grand the biggest scammer

Please investors stay far away from this Broker. All the personnel are illiterate and cannot even write emails including the CEO Mr Gold, who, is nothing more than but a piece of rubbish and permits trading in investors accounts without their consent. You will never get your money back and please investors can we form an alliance to go to the Forex Police Army to get these mongrels behind bars as they have caused tremendous hardship and huge financial difficulties for my family. They are a bunch of filthy scumbags that should rot in jail. STAY AWAY FROM FOREX GRAND PLEASE.

Daliba Greyling 12/02/2017

Forex Grand a lot of rubbish and scumbags

Forex Grand is a Brokerage that never communicates with their investors as all the staff are illiterate and cannot even type an email. As for the CEO, he has no respect for investors and accuses investors of all bad things and tries to defame them. I am going to sue the CEO of Forex Grand in my personal capacity for insulting me and making false accusations against me. With all due respect the CEO only has sex on his brain and just makes accusations that he cannot prove. Please investors these are a bunch of absolute trash and stay away from them. I am going to do every thing in my power to get them shut down the filthy mongrels.

Frank Sullivan 11/30/2017

Stay away from them

I wanted to withdraw from my trading account. Few hours after requesting a withdrawal, my trading were blocked and after that I asked them unblock, then when I logged in there were strings of losing trades which I didn't play and I immediately closed them. then within the same day my account was blocked again and requested the unblock and after being unblocked I found more losing trades again which I didn't play. so I think the intention was not give me the requested withdrawals. And they forever deactivated my desktop plartform so that I wont be able to change the password.

this whole thing was not a coincidence, how do they put trades when I request a withdrawal. they are just scammers and they are looting more people everyday. and I was lured to them by someone called James Bosko who claims to be a VIP account manager

Tshepo Mmope 11/30/2017

Strongly wouldn't recomend to start anything with this company

I was lured to this company by one trader. Didn't even trade with them, but even though have big issues withdrawing funds. 4 different people are calling me. No one is aware what was happening to my account. There seem to be no system in place to communicate with clients. They give empty promises, when you push them, don't want to commit to anything. When I tried to withdraw cash, 1st had to fill lots of papers, then system allowed me to withdraw only max 3000$ at a time. And there is no option to put two withdrawal request. So all week I am spending just fighting with them to get my money back. My opinion, these people from some small Bulgarian village, good at making lies, not money.

Victoria 11/29/2017

skundas

Susiduriau su sia kompanija ir paliko bloga įspūdį. Galiu pasakyti, kad tai tikri sukciai, kurie neina į jokius kompromisus ir kaltina klientą. Iki šio laiko negrąžina pinigų, kuriuos nuskaičiavo nuo sąskaitos. Darbo netgi nepradejom, nes dar vis vyksta ginčas. Tai labai nemalonus atvejis.

Translated by Google:

I was in trouble with this company and left a bad impression. I can say that they are real scammers who do not enter into any compromises and blame the client. Until this time, they do not return the money they paid off the account. We do not even work, because there is still a dispute. This is a very unpleasant case.

Brone 11/24/2017

Restituzione

Ho chiesto da più di due settimane la restituzione del mio deposito di €200 non avendo fatto nessun trading e inviate per 5 email, ma NESSUNO HA RISPOSTO. Credevo fossero persone serie come mi avevano assicurato al momento di prendere i soldi per il deposito. Il mio parere è che abbiamo a che fare non persone disoneste.

Translated by Google:

I have asked for more than two weeks to return my $ 200 deposit without having traded and sent for 5 emails, but NO ONE HAS ANSWERED. I thought they were great people as I was assured of when they took the money for the deposit. My opinion is that we have to do no dishonest people.

Luciana De Cicco 11/24/2017

Forex Grand

I hereby wish to revoke my comment posted on the 18th October 2017. These comments were directed at Zoe Bagardi and not Forex Grand which is a good Broker

Kevin Ostermeyer 11/21/2017

Forex grand

For everyone who paid with Visa credit card, there is option to get your money back from your card provider.Please check online or ask your bank. Good luck!

Lyudmil Smilenov 11/20/2017

Scam

Forexgrand is big scam. Forexgrand e ‘ truffa non mettete soldi. Don t giv emoney forexgrand

Tre 11/16/2017

ForexGrand: Scam with Account type and withdrawals

I have an account with Forexgrand.. While opening account they promised lot of things and one of them was to provide me platinum spread with my account..After opening and depositing the money they said they are unable to provide that spread and therefore they will provide me the difference of money at the end of the month without any pre condition to withdrawal of that money.. After one month they add this money as bonus in my account and now asking me to finish the requirement of trading volume to a that money...this is scam once you promised the things and even with recorded call how u can deny as company...pls do something to withdrawal and get my money back..

SHAH NEEL 11/14/2017

forex grand is really Scam

dont invest in forex grand they are madd people have no respect are money suckers i tryed to whithdraw my money and its impossible
but the police will take care of them

mario MANUEL 11/07/2017

Forex grand stole my money.

This lady with the name of Mia Sevenson called me on the 22 nd of June.
She persuaded me to invest $350 with her company.
She told me a lot of stories and later her colleague Megan Lagos took over from her. They are just ignoring my mails as well as my skype messages.
So I am pretty sure that they scammed me as well.
I even sent mail to your support without any response.
All I want is my money back in my account.

Stephanus G Nel 11/01/2017

Scammed by Forex Grand

I had an account with $2 000 and my account manager just decided out of her own that she would place trades on my behalf. I am now left with a balance of $480.63 USD, I never gave Zoe Bargardi permission to trade on my behalf and this is fraud

Kevin Henry Ostermeyer 10/18/2017

Scam

Forexgrand is a big scam do not open do not deposite inside

Ertse 10/12/2017

probably zero response/scam

i ve just opened and for now no response!i have 350 dollars on their platform i did not try to withdraw my money back but if somebody here can give me any advise is more than welcome!Must be a way to take your money back!Good luck to everyone.my phone number is +44 751 261 92 17. 0751 261 92 17

alex18 10/11/2017

Zero response

I opened an account with forexgrand and realised too late that they weren't reliable so tried to cancel my account immediately with no response.I've been trying almost every day since 18 Sept with no luck.

Michael Billett 10/10/2017

Scammed by Forexgrand

Hi,

All the advises I got lost me money and the they are allowing me to take what is left. Avoid like the plague...

Alex 10/06/2017

ForexGrand is a SCAM!

ForexGrand is a scam, It is impossible withdraw your money when you are in.
Be careful to their phone advisor very persuasive.....

Dario Gallo 10/03/2017
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