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FXG Invest Review - is it scam or safe?

FXG Invest review - Is fxginvest.com scam or good forex broker?

RATING: 1.1 / 8 REVIEWS FXG Invest
FXG Invest is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


FXG Invest is a forex and CFD broker, offering a good variety of currency pairs and CFDs on commodities, indices, stocks and crypto coins. If you are considering opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Beginner Club Account $300 1:500 4,4 pips
Gold Club Account $10 000 1:500 n/a
Islamic Club Account $30 000 1:500 n/a
VIP Club Account $50 000 1:500 n/a

 

FXG Invest Advantages:

 

Good variety of currency pairs, including some crypto CFDs

 

FXG Invest  is offering its clients 46 forex pairs, including some exotic currencies like South African Rand, Singapore Dollar, Turkish Lira, Swedish Krona, Russian Rubla, Polish Zloty, Norwegian Krone, Mexican Peso, Hungarian Forint, Chinese Yuan, Czech Krona and Chilean Peso. 

 

The broker also offers CFDs on spot metals like silver, gold, aluminum, nickel and zinc, agricultural commodities like soybean, sugar, wheat, cocoa, coffee and cotton, oil and natural gas, some 13 indices, stocks and crypto coins like Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Ripple and Zcash. Still here you may check our list of brokers, also offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage of up to 1:500

 

Leverage of up to 1:500 as offered by FXG Invest is more than enough to fit even the most aggressive trading strategy. And while higher leverage may help you score good profit with a relatively small deposit, it also poses an implied risk of depleting your funds with the slightest market fluctuation in the negative direction. Professional traders know that well and rarely trade with leverage exceeding 1:100.

 

Islamic account offered

 

FXG Invest offers its clients an Islamic or swap free account, where you do not have to pay interest for positions left open over night. Islamic accounts are created especially for Muslim traders, who under the Sharia Law are forbidden to take or receive interest. Usually the price for an Islamic account is payed with additional commissions, fees or through higher spreads. Here you may check our list of brokers, also offering Islamic accounts:

 

>>Islamic Forex Broker<<

 

Major credit cards and e-wallets accepted 

 

FXG Invest accepts payments with all major credit or debit cards like VISA and MasterCard, bank wire and e-wallets like PerfectMoney, QIWI, WebMoney, OKPay, LAVApay and Neteller. Still we miss Skrill and PayPal and probably you may also want to check our list of brokers, accepting Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTrader4 supported

 

FXG Invest offers its clients the MetaTrader4 and that is also good news. The platform is used by more than 80% of traders and is a perfect choice for professional and beginner traders alike.

 

 

MT4 has user friendly interface great charting tools and supports the option to run automated trading sessions with the help of specially designed bots – Expert Advisors, which, by the way, you can easily modify on a propriety scripting language – the MQL4. Here you may also check our list of brokers, offering MetaTrader4:

 

>>MT4 Brokers<<

 

FXG Invest Disadvantages:

 

The broker does not have a license

 

FXG Invest is owned by Grand Services LTD, which is registered on the Marshal Islands. The website, however, is operated by another company - Nordic Pearl Limited, which is based in Bulgaria.    

 

Just for the record, the Marshall Islands are a tiny atoll in the South Pacific, over a 1000 miles off the cost of Papua New Guinea, where international business companies can very easily be incorporated and that can even be done online. Corporate officers, directors, and shareholders may be of any nationality and live anywhere and the companies are not required to disclose the names of officers, directors, shareholders, or beneficial owners. On top of that corporate entities may act as directors, officers, and shareholders.

 

US Department of State warns that the Marshall Islands offshore corporate sector is vulnerable to money laundering and other clandestine activities.

 

All that said, we should note as well, that it is laughable to talk about any regulation of the financial sector on the Marshall Islands, so basically FXG Invest is an unregulated, offshore broker and that significantly decreases its credibility. All the more so, considering that the Italian financial regulator CONSOB has officially warned the public against doing business with this broker.

 

Regulation is crucial for the safety of any investment in the sector and well established financial authorities like the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) do provide sufficient security to traders. 

 

Properly licensed brokers are obliged to follow strict fiscal and ethical rules, including to maintain a minimum capital adequacy ratio, to keep all clients money in protected, segregated accounts and in some cases even to insure traders capital. 

 

With the FCA backed Financial Services Compensation Scheme for example, if the broker goes insolvent, traders can receive back up to 50 000 GBP of their capital. Similar compensation scheme with the CySEC guarantees traders up to 20 000 EUR of the investment. Here you may check our list of brokers, also licensed by FCA:

 

>>FCA Regulated Forex Brokers<<

 

Ridiculously high spreads

 

As tested with a Demo account the EURUSD spread was fixed at 4,4 pips, which is about four times the level traders usually expect to see with a standard account. So here you may also want to check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Unacceptable minimum deposit requirement

 

To open a Beginner Club account with  FXG Invest you will have to invest at least 300 USD and that is higher than what most brokers ask. Besides, some big established names like FBS and IG do not have a minimum deposit requirement at all.

 

For its premium accounts FXG Invest requires even more solid investments – 10 000 USD for a Gold Club account, 30 000 USD for an Islamic Club account and 50 000 USD for a VIP Club account.

 

Conclusion:

 

FXG Invest is an unregulated, offshore broker with very limited credibility, which on top of that offers ridiculously high spreads. As we have already discussed, investing with unregulated companies is associated with a significant risk of loosing your money to scammers.

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Traders` reviews for FXG Invest

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Fraud

Mr. Alex Gruber always emphasised being a honest man.
Now there is no communication any more. No possibility to get my Money back.
9c4x3v

Horst Bolten, Germany 03/16/2019

Encore une escroquerie

Impossible de récupérer ne serait-ce que l'investissement et j'ai payé pour rien afin d'encaisser des gains imaginaires ... tout au moins pour moi.

Translated by Google:

Another scam
It was impossible to recover even the investment and I paid for nothing to collect imaginary gains ... at least for me.

Marie-Christine 03/14/2019

truffa

fginvest ho provato piu volte a chiedere un rimborso ma non si fanno trovare e non rispondono

Translated by Google:

fginvest I tried several times to ask for a refund but do not find and do not answer

paoli 02/27/2019

Betrug

Ich habe alles verloren, was ich heute hatte.
Ich weiß nicht, was ich tun soll, ich bin wirklich sauer.
Wie bekomme ich mein Geld zurück?

Translated by Google:

Scam

I lost everything I had today.
I do not know what to do, I'm really mad.
How do I get my money back?

Jakob Maile 10/24/2018

FXG Invest 100% scam

While getting my money back from FXG Invest, I found out a lot of weird information... For instant the owners residence address is Rua 7, Agosto Santa Maria, Kapverdski otoki, Cabo Verde... The site domain is 3 year old, but there are loads of controversial info and reviews on the company…

Cia 08/15/2018

Unperform compamy

I join your fxg invest in 15 feb 2018 , we start trading , and things is improving , for a time i dont hear from my broker any more ,i send him email no reply , i make 4950 dollas , so i traveled 20 july 2018 for three weeks ,when i came i visit the trdinf site , nothing i was there , it has give me negative 138 , i was worried how it happens likw that ,
i call me +3933126098322

Emmanuel Agbavor Davis 08/13/2018

Scam

Scam, I lost everything that I had today
I dont know what to do, I am really bad.

Fernando 07/25/2018

No response

There has been no answer to several emails requesting withdrawal of $250 deposited with them two months ago. I am deeply suspicious they have no intention making a refund.

Mairead Ross 07/19/2018
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