City Global Trading Review (2023)

Is City Global Trading a scam or a legit broker?

City Global Trading is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes. 

City Global Trading is a trading service provider that offers expert advice to help in a smart managed FX investment choice and assist by a most reliable environment through the transparent pricing. The broker claims its registration of an address in UK, as well as the regulation by FCA since the financial service provider operating in UK, should hold a necessary license.

However, the facts revealed totally opposite situation while the City Global Trading nor regulated or authorized by FCA or any other entity to deliver its service. In addition to that, the FCA has even issued an official warning against the City Global Trading broker, as the company misleads about its legal information and targets UK residents without legal permission to do so.

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized by us. The firm City Global Trading is not authorized by us and is targeting people in the UK. We strongly advise you to only deal with financial firms that are registered, and check the Financial Services Register to ensure they are.”

FCA, UK. December 2018.  

Conclusion

Therefore, it comes to the point that the City Global Trading is most probably located in some offshore zone or even registered by none, while presents themselves as a legit firm. The traders should be extremely careful while choosing the broker to trade with, as scams invent more and more possibilities to target their victims. The reliable offering always would come from a reputable and regulated firm, with a necessary implementation of protective tools. Thus, as general advice and particular case, we would advise better to choose among truly FCA regulated brokers, while the list of FCA Regulated forex brokers can assist in choice, or brokers such as FXPrimus (Check FXPrimus broker review here) and XM.com (Read about XM trading). 

City Global Trading’s website is no longer active.