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FXGLK foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.fxglk.com/, about the company's legal and temporary regulatory information, the company's address .

FXGLK Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

FXGLK GROUP

Abbreviation

FXGLK

Company employee

Company Website

https://www.fxglk.com/

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

United Kingdom Appointed Representative(AR) Revoked

High potential risk

Company profile

Aspect Information Registered Country United Kingdom Founded Year 5-10 years Company Name FXGLK GROUP Regulation FCA (Revoked), NFA (Unauthorized) Minimum Deposit $100 Maximum Leverage BASIC: 1:100, PREMIUM: 1:200, ENTERPRISE: 1:500 Spreads BASIC: From 2 pips, PREMIUM: From 1 pip, ENTERPRISE: From 0.7 pips Trading Platforms Meta Trader 4 (MT4) Tradable Assets Forex, Metals, Commodities, Indices Account Types BASIC, PREMIUM, ENTERPRISE Customer Support Phone (Chinese Simplified clients): 4006868869, Email: fxglk_sever@fxglk.com Payment Methods Bank transfer, Credit/debit card, E-wallets (Neteller, Skrill) Overview of FXGLK FXGLK GROUP, operating in the United Kingdom and the United States, has faced regulatory issues. The Financial Conduct Authority (FCA) in the UK revoked the regulatory license of FXGLK GROUP COMPANY LIMITED (License Number: 786418), while the United States National Futures Association (NFA) has labeled FXGLK GROUP LIMITED COMPANY (License Number: 0505934) as unauthorized. These regulatory concerns indicate potential risks associated with FXGLK GROUP, making it important for individuals to exercise caution when engaging with the company. FXGLK offers a range of market instruments, including foreign exchange (FX) instruments like Spot FX, Forward FX, Non-deliverable forwards (NDFs), Currency swaps, and Options. Additionally, they provide metal instruments such as Gold, Silver, Platinum, and Palladium, along with commodity instruments like Oil, Natural gas, Coffee, Wheat, and Corn. Index instruments are also available, covering stock market indices, bond market indices, and volatility indices. The company offers different account types, including BASIC, PREMIUM, and ENTERPRISE, each with varying features. Leverage options are dependent on the account type and currency pair traded, with BASIC offering up to 1:100, PREMIUM up to 1:200, and ENTERPRISE up to 1:500 leverage. Spreads and commissions vary similarly across account types. FXGLK supports various deposit and withdrawal methods, including bank transfer, credit/debit cards, and e-wallets, with minimum and maximum limits in place. The trading platform offered is Meta Trader 4 (MT4), known for its user-friendly interface and trading features. However, a review on WikiFX raises concerns about FXGLK, including allegations of a pyramid scheme and issues with client withdrawals, potentially affecting the company's reputation. Pros and Cons FXGLK offers several advantages and disadvantages. On the positive side, it is regulated by the UK's FCA (License: 786418) and provides a wide range of market instruments. Additionally, it offers leverage options of up to 1:500 and supports multiple deposit and withdrawal methods. Furthermore, it offers customer support for Chinese (Simplified) clients and utilizes the popular MT4 trading platform. However, there are significant drawbacks, including the regulatory status being revoked by the FCA for FXGLK GROUP COMPANY LIMITED and the unauthorized status of FXGLK GROUP LIMITED COMPANY by the NFA, which may pose potential risks. Moreover, there is a lack of specific information regarding spreads and commissions for different currency pairs, and processing times for deposits and withdrawals can be relatively lengthy, up to 5 business days. The main website's unavailability is another issue, and a review on WikiFX raises concerns about potential pyramid scheme complaints and withdrawal problems. Pros Cons Offers a wide range of market instruments Regulatory status revoked by FCA for FXGLK GROUP COMPANY LIMITED. Leverage options available up to 1:500 Unauthorized by NFA for FXGLK GROUP LIMITED COMPANY. Potential risks for clients. Multiple deposit and withdrawal methods Lack of specific spreads and commission rates for different currency pairs. Provides customer support for Chinese (Simplified) clients Processing times for deposits and withdrawals can be relatively long, up to 5 business days. Popular trading platforms, MT4 Main website unavailable One review on WikiFX raises concerns about a pyramid scheme complaint and issues with withdrawals. Is FXGLK Legit？ FXGLK GROUP COMPANY LIMITED is regulated by the United Kingdom's Financial Conduct Authority (FCA) with license number 786418, but its regulatory status is currently revoked. On the other hand, FXGLK GROUP LIMITED COMPANY is associated with the United States National Futures Association (NFA) with license number 0505934, but its regulatory status is unauthorized. Both institutions have abnormal regulatory statuses, with the FCA revoking FXGLK GROUP COMPANY LIMITED's license and the NFA labeling FXGLK GROUP LIMITED COMPANY as unauthorized, posing potential risks for individuals dealing with them. Market Instruments FOREIGN EXCHANGE FXGLK provides various foreign exchange instruments, such as Spot FX, which involves immediate currency exchange, Forward FX for exchanging currencies at predetermined future rates, Non-deliverable forwards (NDFs) settling in cash, Currency swaps for exchanging currency cash flows over a specified period, and Options, allowing the right to buy or sell a currency at a predetermined rate by a specific date. METALS FXGLK offers several metal instruments, including Gold, commonly used for jewelry, investment, and industry; Silver, a versatile precious metal used in various applications; Platinum, a rare and valuable metal for jewelry and industrial use; and Palladium, a rare metal used in catalytic converters and other industrial purposes. COMMODITIES FXGLK provides various commodity instruments like Oil, a vital global commodity for fuels and petrochemicals; Natural gas, a clean-burning fossil fuel for electricity generation and more; Coffee, traded as both a popular beverage and a commodity; Wheat, a major food grain; and Corn, used in both food and industry, all traded as commodities. INDICES FXGLK offers a range of index instruments, including Stock market indices, tracking the performance of groups of stocks like the S&P 500 and Nasdaq 100; Bond market indices, monitoring the performance of bond baskets like the US Treasury Bond Index and Bloomberg Barclays Global Aggregate Bond Index; and Volatility indices, which gauge implied volatility in stock market indices or commodities. Pros Cons Diverse Range of Market Instruments (Forex, Metals, Commodities, Indices) Lack of Specific Information on Trading Volume and Market Depth Opportunity for Portfolio Diversification Potential Risk Associated with Various Instruments Access to Precious Metals and Commodity Markets Complexity for Novice Traders in Understanding and Trading Different Instruments Account Types BASIC: Starter account with basic features, such as access to the FXGLK platform and the ability to create and publish games. Examples: Free account, Personal account. PREMIUM: Paid account with additional features, such as increased storage space, more powerful hosting, and access to exclusive resources. Examples: Pro account, Business account. ENTERPRISE: Custom account for large organizations with specific needs, such as support and custom branding. Examples: Corporate account, Institutional account. Pros Cons BASIC account provides access to FXGLK platform. Lack of detailed information on account-specific fees and requirements. PREMIUM account offers additional storage and resources. No information about the cost of the PREMIUM account or its affordability for users. ENTERPRISE account caters to large organizations' needs. Limited availability of information regarding the customization options and pricing for ENTERPRISE accounts. Leverage FXGLK's leverage options vary depending on the account type and the currency pair traded. The BASIC account has leverage of up to 1:100, the PREMIUM account has leverage of up to 1:200, and the ENTERPRISE account has leverage of up to 1:500. Spreads & Commissions FXGLK's spreads and commissions vary depending on the account type and the currency pair traded. The BASIC account has spreads from 2 pips and no commissions, the PREMIUM account has spreads from 1 pip and commissions of $0.10 per lot, and the ENTERPRISE account has spreads from 0.7 pips and commissions of $0.05 per lot. Deposit & Withdrawal FXGLK offers a variety of deposit and withdrawal methods, including bank transfer, credit/debit card, and e-wallets (such as Neteller and Skrill). The minimum deposit is $100 and the maximum deposit is $100,000 per day. The minimum withdrawal is $50 and the maximum withdrawal is $100,000 per day. Processing times vary depending on the method used and the amount being deposited/withdrawn, but generally range from 1-3 business days for deposits and 3-5 business days for withdrawals. Pros Cons Multiple deposit methods available (e.g., bank transfer, credit/debit card, e-wallets). Lengthy processing times for withdrawals, taking up to 3-5 business days. Wide range of deposit limits, from a minimum of $100 to a maximum of $100,000 per day. Minimum withdrawal limit set at $50, which may not be suitable for small withdrawals. Lack of specific information on processing times for deposits, causing uncertainty for clients. Trading Platforms FXGLK offers the Meta Trader 4 (MT4) trading platform, providing traders with access to a widely recognized and popular trading system. MT4 is known for its user-friendly interface, advanced charting tools, and a comprehensive range of technical indicators. It allows traders to execute various trading strategies and offers features such as automated trading through Expert Advisors (EAs), real-time market analysis, and customizable trading environments. Pros Cons Utilizes the widely recognized MT4 trading platform. No mention of other trading platforms or proprietary trading tools. User-friendly interface with advanced charting tools. Lack of information about mobile trading options or platform stability. Offers automated trading through Expert Advisors. No alternative trading platforms available Customer Support FXGLK offers customer support for Chinese (Simplified) clients via phone at 4006868869, and additional contact options include email at fxglk_sever@fxglk.com. Reviews There is one review of FXGLK on WikiFX, which exposes concerns about the company. The review mentions issues related to a pyramid scheme complaint, stating that FXGLK has absconded. It further highlights that the agency of FXGLK, Shanghai Golden Lion Group Co., Ltd., has also absconded, causing problems with client withdrawals. Currently, the agency for FXGLK is identified as Hong Kong Gaobo Group, described as a dealing-desk platform that does not provide access to withdrawals. The review was posted on June 20, 2018. Conclusion In conclusion, FXGLK presents a mixed landscape of potential advantages and disadvantages. On the positive side, the company offers a variety of account types, leverage options, and trading platforms, including the widely recognized Meta Trader 4. Additionally, it provides multiple deposit and withdrawal methods. However, there are significant concerns regarding its regulatory status, with the FCA revoking one license and the NFA labeling another as unauthorized. Moreover, a review on WikiFX raises serious doubts about the company's practices, including issues related to pyramid schemes and difficulties with client withdrawals. Individuals considering FXGLK should exercise caution and conduct thorough due diligence before engaging with the company. FAQs Q: Is FXGLK a legitimate company？ A: FXGLK GROUP COMPANY LIMITED is regulated by the United Kingdom's Financial Conduct Authority (FCA) with license number 786418, but its regulatory status is currently revoked. FXGLK GROUP LIMITED COMPANY is associated with the United States National Futures Association (NFA) with license number 0505934, but its regulatory status is unauthorized. Both institutions have abnormal regulatory statuses, which can pose potential risks. Q: What financial instruments does FXGLK offer？ A: FXGLK provides a range of financial instruments, including foreign exchange (FOREX), metals (Gold, Silver, Platinum, Palladium), commodities (Oil, Natural gas, Coffee, Wheat, Corn), and indices (Stock market, Bond market, Volatility). Q: What are the different account types offered by FXGLK？ A: FXGLK offers three account types: BASIC (Starter), PREMIUM (Paid), and ENTERPRISE (Custom). These accounts come with varying features and benefits suitable for different trading needs. Q: What leverage options are available at FXGLK？ A: FXGLK offers different leverage options depending on the account type and currency pair traded. BASIC has leverage up to 1:100, PREMIUM up to 1:200, and ENTERPRISE up to 1:500. Q: What are the deposit and withdrawal options and limits at FXGLK？ A: FXGLK offers various deposit and withdrawal methods, including bank transfer, credit/debit card, and e-wallets. The minimum deposit is $100, and the minimum withdrawal is $50, with varying processing times and daily limits. Q: What trading platform does FXGLK provide？ A: FXGLK offers the Meta Trader 4 (MT4) trading platform, known for its user-friendly interface and advanced features like automated trading, real-time market analysis, and customizable environments.

FXGLK broker review

Is FXGLK safe or scam

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FXGLK Forex Broker - Complete Information Guide

1. Broker Overview

　　FXGLK Group, established approximately 5 to 10 years ago, operates as a forex broker primarily serving clients in the United Kingdom and the United States. The company is privately held and has its headquarters in the United Kingdom. FXGLK has developed a reputation in the forex trading space, although it has faced significant regulatory challenges throughout its operational history.

　　The broker provides a range of services, including retail forex trading, and offers various trading accounts tailored to different types of clients. FXGLK has gone through several milestones, including the acquisition of regulatory licenses, although some of these have since been revoked, raising concerns about its operational legitimacy.

　　The parent company or group relationship is somewhat ambiguous, as there are indications that FXGLK operates under various entities, including the Shanghai Golden Lion Group Co., Ltd., which has faced allegations of absconding with client funds. Currently, the agency for FXGLK is identified as Hong Kong Gao Bo Group, which is described as a dealing-desk platform that reportedly does not provide access to withdrawals. This situation has affected many clients' ability to retrieve their funds, leading to a tarnished reputation.

　　In summary, the FXGLK broker offers a diverse range of trading services but is marred by regulatory issues and client complaints, making it crucial for potential clients to conduct thorough due diligence before engaging with the broker.

2. Regulatory and Compliance Information

　　FXGLK Group has faced significant regulatory scrutiny. The primary regulatory body, the Financial Conduct Authority (FCA) in the United Kingdom, revoked the broker's license (License Number: 786418). Additionally, the National Futures Association (NFA) in the United States has classified FXGLK Group Limited as unauthorized (License Number: 0505934). These actions indicate serious compliance issues and potential risks for clients.

　　The regulatory licenses held by FXGLK were intended to ensure that the broker adhered to strict operational standards and client protections. However, with the revocation of these licenses, clients are left vulnerable. The company does not currently participate in any investor compensation schemes, which would typically provide a safety net for clients in cases of broker insolvency.

　　FXGLK claims to follow Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures; however, the effectiveness of these measures is questionable given the ongoing regulatory challenges and client complaints about withdrawal issues. The lack of transparency regarding client fund segregation policies further exacerbates concerns about the safety of investors' capital.

　　In essence, the FXGLK broker operates under a cloud of regulatory uncertainty, and potential clients should be aware of the risks associated with trading with an unregulated entity.

3. Trading Products and Services

　　FXGLK offers a broad spectrum of trading products, primarily focusing on forex instruments. The broker provides various foreign exchange pairs, including major, minor, and exotic currency pairs. While the exact number of forex currency pairs is not disclosed, it is understood that the broker covers the essential pairs commonly traded in the market.

　　In addition to forex trading, FXGLK provides Contracts for Difference (CFDs) across several asset classes, including:

Indices: Covering major stock market indices such as the S&P 500 and NASDAQ 100.
Commodities: Trading options include oil, natural gas, coffee, wheat, and corn.
Metals: Instruments available include gold, silver, platinum, and palladium.
Cryptocurrencies: While not explicitly mentioned, the growing interest in digital assets suggests the potential for cryptocurrency trading.

　　FXGLK aims to offer a diverse trading experience, although details regarding the frequency of product updates and the introduction of new trading instruments remain unclear. The broker primarily serves retail clients but may also cater to institutional clients, although specific institutional services are not well-documented.

　　Overall, the FXGLK broker provides a range of trading products that could appeal to various traders, but the lack of transparency and regulatory issues may raise concerns about the reliability of these offerings.

4. Trading Platforms and Technology

　　FXGLK supports the widely recognized MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and robust trading features. The platform allows traders to implement various trading strategies, utilize technical indicators, and engage in automated trading through Expert Advisors (EAs).

　　While there is no mention of proprietary trading platforms, FXGLK's reliance on MT4 suggests a commitment to providing traders with a familiar and effective trading environment. The broker has not disclosed details about web-based trading platforms or mobile applications for iOS and Android, which could limit accessibility for some traders.

　　The execution model employed by FXGLK is not clearly defined, with indications that it may operate under a dealing-desk model. This model could lead to potential conflicts of interest, particularly in volatile market conditions.

　　FXGLK's technological infrastructure, including server locations, is not publicly detailed, which can create uncertainty about the broker's operational capabilities and reliability. There is also no mention of API access or support for automated trading beyond the standard MT4 offerings.

　　In summary, while the FXGLK broker offers a popular trading platform in MT4, the lack of additional technological details and transparency regarding execution models may pose challenges for traders seeking a comprehensive trading experience.

5. Account Types and Trading Conditions

　　FXGLK offers several account types designed to cater to different trading needs, including:

Basic Account: This account type requires a minimum deposit of $100, with spreads starting from 2 pips and no commission fees.
Premium Account: This account type offers a minimum deposit of $1,000, with spreads starting from 1 pip and a commission of $0.10 per lot.
Enterprise Account: Designed for larger traders, this account type requires a minimum deposit of $5,000, with spreads starting from 0.7 pips and a commission of $0.05 per lot.

　　Leverage options vary by account type, with the basic account offering leverage up to 1:100, the premium account up to 1:200, and the enterprise account up to 1:500. The minimum trade size is generally set at 0.01 lots, allowing for flexibility in trade execution.

　　FXGLK has not provided clear information regarding overnight fees or swap rates, which can significantly impact trading costs. Additionally, the lack of details about Islamic accounts or specific account features may limit options for traders with unique requirements.

　　In conclusion, the FXGLK broker provides various account types with different trading conditions, but the absence of detailed information on fees and features may hinder traders' ability to make informed decisions.

6. Fund Management

　　FXGLK supports multiple deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets such as Neteller and Skrill. The minimum deposit requirement varies by account type, with a general minimum of $100 for the basic account.

　　The processing time for deposits typically ranges from 1 to 3 business days, while withdrawals can take 3 to 5 business days, depending on the method used. However, the broker has not disclosed specific fees associated with deposits or withdrawals, which can lead to uncertainty for clients.

　　Withdrawal limits are set at a minimum of $50, with a maximum daily withdrawal limit of $100,000, allowing for substantial flexibility for traders looking to manage their funds. Despite these options, there have been numerous complaints regarding clients' inability to withdraw funds, significantly impacting the broker's reputation.

　　In summary, while the FXGLK broker offers various funding methods, the lack of clarity regarding fees and withdrawal issues presents potential challenges for clients.

7. Customer Support and Educational Resources

　　FXGLK provides customer support primarily for Chinese-speaking clients, with support channels including phone and email. The customer support phone number for Chinese clients is 4006868869, and they can also reach out via email at fxglk_sever@fxglk.com. However, the availability of support in other languages and through additional channels such as live chat or social media is not clearly specified.

　　The service hours for customer support are not detailed, which may lead to difficulties for clients requiring immediate assistance. The broker does not appear to provide extensive educational resources, such as webinars, tutorials, or e-books, which are often essential for traders looking to enhance their skills and knowledge.

　　Market analysis services, including daily updates and research reports, are also not mentioned, leaving traders without the necessary tools to make informed decisions based on market conditions.

　　In conclusion, the FXGLK broker offers limited customer support and educational resources, which may hinder traders' ability to access the assistance and knowledge they need to succeed.

8. Regional Coverage and Restrictions

　　FXGLK primarily serves clients in the United Kingdom and the United States, with a focus on the retail forex market. However, the broker's operational status and regulatory challenges may limit its ability to attract clients in other regions.

　　The broker does not provide detailed information regarding regional offices or the specific countries from which it accepts clients. Additionally, there is no mention of countries or regions from which clients are restricted from opening accounts.

　　Given the ongoing regulatory issues and complaints regarding fund withdrawals, potential clients should exercise caution and verify whether they can legally trade with FXGLK in their respective jurisdictions.

　　In summary, while the FXGLK broker has a defined service area, the lack of transparency regarding regional restrictions and operational challenges may pose risks for prospective clients.

　　In conclusion, FXGLK presents a complex picture of potential benefits and significant risks. The broker offers a range of trading products and account types but is marred by regulatory issues and client complaints. Individuals considering FXGLK should conduct thorough research and exercise caution before engaging with this broker.

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