SELECT GLOBAL Company

Select Global Company: A Comprehensive Overview

1. Company Overview

Founding Date and Background

Select Global Company, a forex and CFD broker, was founded in December 2011. It has positioned itself as a trading platform that caters to both novice and experienced traders. The company claims to provide a comprehensive suite of trading services, although its legitimacy has been a topic of concern in the trading community.

Parent Company/Owership Structure

Select Global operates under various names and has been linked to different entities, including Select Brokers Global LLC, which is registered in New Jersey, USA. The ownership structure is somewhat opaque, with discrepancies in address and ownership details that raise questions about its transparency.

Headquarters Location

The company claims to be based in the UK, specifically at 55 Bryanston Street, Marble Arch Tower, London. However, investigations have revealed that this address is associated with a dissolved entity, further complicating the trustworthiness of Select Global.

Global Business Scope

Select Global targets a global audience of traders, offering services primarily in forex and CFDs. However, the absence of a clear operational history and verifiable management team limits the understanding of its global reach.

Main Regulatory Bodies

Select Global operates without recognized regulatory oversight. The Financial Conduct Authority (FCA) in the UK has issued warnings against the broker, categorizing it as unregulated. This lack of regulation is a significant red flag for potential clients.

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2. Company History and Development

Key Milestones

• 2011: Select Global was founded, aiming to provide trading services in forex and CFDs.
• 2016: The companys UK entity, Select Global Ltd, was dissolved, leading to questions about its operational legitimacy.

Business Expansion Journey

Select Global has attempted to expand its offerings by marketing itself as a comprehensive trading platform. However, the lack of transparency regarding its operational practices and regulatory status has hindered its growth trajectory.

Customer Base Growth

While the company claims to cater to both novice and experienced traders, user feedback indicates a pattern of negative experiences, particularly concerning withdrawal issues and customer support.

Platform Development History

Select Global claims to offer a trading platform based on MetaTrader 5, a reputable trading platform. However, users have reported issues with trade execution, including slippage and rejected orders, indicating potential underlying problems with the platform's reliability.

Important Awards or Recognitions Received

As of this writing, there are no notable awards or recognitions reported for Select Global, which further emphasizes its questionable standing in the industry.

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3. Trading Services Offered

Forex Trading Options

Select Global offers a range of forex trading options, although specific details on the number of currency pairs available are not disclosed. This lack of transparency regarding trading conditions raises concerns about the broker's integrity.

Stock Trading Options

The company does not provide detailed information about stock trading options, which limits potential clients' understanding of the services offered.

CFD Trading Products

Select Global markets itself as a CFD broker, but further details on the types of CFDs available are not clearly outlined on its platform.

Other Financial Instruments

While Select Global claims to offer various financial instruments, including cryptocurrencies and commodities, the lack of specific information about these offerings raises questions about the depth and reliability of its services.

Special Services or Unique Advantages

Select Global has not effectively communicated any unique advantages or special services that differentiate it from other brokers in the market.

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4. Regulatory and Legal Background

Detailed Regulatory Information

Select Global operates without any recognized regulatory oversight. The FCA has blacklisted it, indicating a significant risk for potential traders. The absence of regulation is a critical factor that potential clients should consider seriously.

Legal Entity Structure by Region

• United Kingdom: Select Global Ltd (dissolved in 2016)
• United States: Select Brokers Global LLC, registered in New Jersey

Client Fund Protection Measures

There is no evidence that Select Global implements robust measures to protect client funds. The absence of segregated accounts and negative balance protection raises serious concerns about the safety of customer investments.

Countries/Regions Served

Select Global markets itself as a global broker, but the lack of regulatory oversight and transparency limits its credibility in various regions.

Compliance History

The company has faced scrutiny and warnings from regulatory bodies, indicating a troubling compliance history that potential clients should be aware of.

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5. Competitive Landscape

3-5 Main Competitors

1. FXTM (ForexTime): A regulated broker offering a wide range of trading services with a solid reputation.
2. IG Group: A well-established broker with comprehensive trading offerings and regulatory oversight.
3. OANDA: Known for its transparency and regulatory compliance, OANDA is a strong competitor in the forex trading space.
4. eToro: A social trading platform that has gained popularity for its user-friendly interface and regulatory compliance.
5. Pepperstone: An Australian broker with a strong reputation for competitive spreads and regulatory oversight.

Positioning in the Industry

Select Global positions itself as a comprehensive trading platform for both novice and experienced traders. However, its lack of regulation and transparency puts it at a disadvantage compared to more reputable brokers.

Market Differentiation Factors

Select Global's primary differentiation factor appears to be its claims of offering a wide range of trading services. However, the lack of transparency, regulatory compliance, and negative user feedback significantly undermine its positioning in the market.

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Conclusion

In summary, Select Global Company presents significant concerns regarding its safety and legitimacy. The lack of regulatory oversight, transparency in operations, and negative customer feedback strongly suggest that traders should exercise caution when considering this broker. For individuals seeking reliable trading options, it is advisable to explore brokers that are regulated by reputable authorities, such as the FCA or CySEC, which provide essential protections for traders.

For more information on safer trading options, learn more.