FXglobe locked my account and refused to process my withdrawal request. I was trading there just to test out the platform and write an honest review about my experience with this company.

Onn the 1st of August 2023, I signed up on the FXglobe platform with the link https://portal.fxglobe.io/register-step-1. I had believed that this was a decent broker.

It turns out that FXglobe is a crafty broker hailing from South Africa. They’re also using the name FS International LTD which I suspect is the company that sells them the white label broker solution.

This is my experience on the broker’s platform.

FXglobe review: this broker refused to answer my emails

Here’s a screenshot of the last email I sent to the customer support of FXglobe broker.

The broker’s customer support has never responded to this email. I currently have a balance of about $1,500 sitting in my trading account.

So currently am pursuing the matter with a funds recovery company called Mychargeback which has promised to follow up on the issue until I get my money back.

How I got scammed by FXglobe broker

I deposited $2,000 on a live account after some demo runs which made me believe this broker has decent spreads and execution.

As soon as I transitioned to a live account, the trading environment suddenly changed. My winning pattern also changed despite my trading style remaining constant.

I asked the broker why the spreads were so large and execution was poor compared to when I was trading on their demo account.

They blamed “volatility” but I suspected foul play. It seems the way their demo account is setup is very different compared to how they run their live accounts.

I also felt that FXglobe was hunting my stops. There’s this particular day that a long bullish candle formed. It covered almost half of the chart and it hit my stop loss. I took a loss of about $100.

This is normal during news time which affect the particular currency pair that you’re trading. However, if there is a consistent repetition of this scenario on a frequent basis, then something must be wrong.

I’d been with Fxglobe for 2 months and during my trading with them on a live account, the market always hit my stop loss.

This is how I ended up from a $2,000 balance to about $1,500 balance. And FXglobe is unable to justify the reason for not returning my $1500.

On the issue of TrustPilot FXglobe Reviews

Sometimes when you post something extremely negative about a Forex broker, TrustPilot refuses to publish that review especially when they’re in a business partnership with that broker.

For that reason, I started this blog to give you my honest stories uncensored.

I wanted to publish this review on the TrustPilot forum but unfortnately it was not approved. Thankfully now you can read it here and the broker can also get a chance to address my concern.

Conclusion of this review

When signing up on this broker’s platform, they welcome you in a heart-warming manner. Once you deposit funds into the FXglobe platform, withdrawing it becomes a big problem.

I feel this broker is a big time scam. Even their “license” is fake. I have also brought this issue to the attention of the South African financial regulator.

Thanks for reading my review. Share your comments about this broker down below.