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GalaxyTrade

United Kingdom|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://galaxytrade.cc/

Website

Rating Index

Contact

+44 7723870678
compliance.en@galaxytrade.cc
https://galaxytrade.cc/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+44 7723870678

Russian

+7 4953744532

Broker Information

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Company Name

GalaxyTrade

Company Abbreviation

GalaxyTrade

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-02-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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GalaxyTrade · Company Summary

Note: For some unknown reason, we cannot open GalaxyTrades official site (https://galaxytrade.cc/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

 General Information & Regulation

GalaxyTrade, a trading name of Plethora Group Ltd, is allegedly a forex and CFD broker registered in Dominic that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and fixed EUR/USD spreads at 3 pips on the web-based trading platform, as well as a choice of four different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that GalaxyTrade does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.27/10. Please be aware of the risk.

 General Information & Regulation

Negative Reviews

A trader shared his terrible trading experience on the GalaxyTrade platform at WikiFX. He said this platform is a big scam. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

Negative Reviews

Market Instruments

GalaxyTrade advertises trading in forex and various CFDs on indexes, commodities, precious metals, stocks and cryptocurrencies.

Account Types

GalaxyTrade claims to offer four types of trading accounts, namely Good, Better, Supreme and Best. The minimum initial deposit amount is $250 for the Good account, while the other three account types have much higher minimum initial capital requirements of $2,000, $25,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by GalaxyTrade is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

GalaxyTrade claims that the spread is fixed at 3 pips for the EUR/USD pair.

Trading Platform Available

The platform available for trading at GalaxyTrade is Webtrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Trading Platform Available

Deposit & Withdrawal

GalaxyTrade says to work only with bank wire and credit/debit cards. The minimum initial deposit requirement is said to be $250. As for withdrawals and fees, there are no minimum requirements.

Bonuses

GalaxyTrade claims to offer some bonuses, however, the clients have to trade the bonus plus the deposit 25 times to become eligible for withdrawal. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Bonuses

Customer Support

GalaxyTrades customer support can be reached by telephone: +44 7723870678, +7 4953744532, email: compliance.en@galaxytrade.cc, compliance.de@galaxytrade.cc, compliance.it@galaxytrade.cc, compliance.ru@galaxytrade.cc. Company address: 8 Copthall, Roseau Valley, 00152 Commonwealth of Dominica.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

User Reviews

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2

Comments

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Danny56562
more than one year
I almost fell prey to this scammer, and made my deposits. My friend Mark pulled me back. So, you know? My money was almost stolen! This broker is an illegal broker, with no regulation at all…
2022-12-16 11:11
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0
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FX1087275721
more than one year
It is the same romance scam exposed on the internet. It deceives me to invest and the amount keeps getting larger. There is a problem with withdrawal, and their customer service is always unavailable.
2022-12-06 11:15
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