FXG Trade Review (2023)

Is FXG Trade a scam or a legit broker?

FXG Trade is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade FXG Trade. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

FXG Trade is a brand owned by Capital FXG LTD – a company licensed in the Marshall Islands. The Marshall Islands is a popular offshore destination for forex brokers, as it offers a variety of tax benefits (no income tax, no capital gains tax nor inheritance tax), the registration process is fast and low cost, and capital requirements are also very low, amounting to USD 2000. Also the billing of the company is handled by Nordic Pearl Ltd., based in Bulgaria.

Although the company is not licensed in UK, but is targeting UK residents. It is recommended to trade with brokers regulated by UK’s FCA or Australia’s ASIC (Read the ASIC Regulated MEXC’s Review) instead.

For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits. The regulator also protects customers when authorized financial services firms fail.

Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HotForex and BlackBull Markets.

Yet, it is always great to hear your personal opinion about FXG Trade. So you may share your experience or thoughts or discuss them below or ask us for additional information.