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The WikiFX Score of this broker is reduced because of too many complaints!

Galaxy Group

Hong Kong|5-10 years|
MT4 Full License|Regional Brokers|Suspicious Overrun|High potential risk|

http://en.gglhk.hk/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
HKGalaxyGroup-Demo MT4
Server Location China

Contact

(+852)21158432
galaxy@gglhk.hk
http://en.gglhk.hk/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

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

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

(+852)21158432

Traditional Chinese(HK)

+852 21158432

Other ways of contact

Broker Information

More

Company Name

HongKong Galaxy Group

Abbreviation

Galaxy Group

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 3
Previous Detection : 2024-07-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The China Hong Kong CGSE regulation (license number: 203) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Galaxy Group · WikiFX Survey

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Galaxy Group · Company Summary

Key Information Details
Company Name Galaxy Group
Years of Establishment 5-10 years
Headquarters Hong Kong
Office Locations N/A
Regulation The Chinese Gold & Silver Exchange Society
Tradable Assets Gold, Silver
Account Types N/A
Trading Platforms MetaTrader4/5
Customer Support Chinese (Simplified), Traditional Chinese (HK)

Overview of Galaxy Group

Galaxy Group is an established company that has been operating for 5-10 years, with its headquarters based in Hong Kong. The company is regulated by The Chinese Gold & Silver Exchange Society. While providing a trading platform, MetaTrader4/5, Galaxy Group offers gold and silver as tradable instruments.

The website of the company is inaccessible, which may raise concerns about the transparency of their operations and make it challenging for potential customers to access information. Additionally, specific details regarding the company's office locations, tradable assets, account types, minimum deposit, leverage, spread, and deposit/withdrawal methods are not available. The absence of this crucial information further adds uncertainty to the company's credibility and the extent of services they offer.

basic-info

Regulation

Galaxy Group operates under the regulation of The Chinese Gold & Silver Exchange Society, holding a Type B License with the license number 203. However, it is important to note that the company's regulation falls under the jurisdiction of Hong Kong.

regulation

Pros and Cons

Galaxy Group, an established company regulated by The Chinese Gold & Silver Exchange Society, offers trading services on the MetaTrader4/5 platform, providing clients access to trade instruments like gold and silver. Their 5-10 years of operation showcase a track record in the industry. The availability of customer support through Chinese (Simplified) and Traditional Chinese (HK) contact numbers and email channels indicates a commitment to assist clients. The use of MetaTrader4/5, a widely recognized and reliable trading platform, offers familiarity and ease of use for traders. Moreover, their regulated status under a Type B License adds a layer of credibility to their operations.

Despite being regulated, Galaxy Group's lack of accessible website raises concerns about transparency and communication. The unavailability of specific information on office locations, tradable assets, account types, minimum deposit, leverage, spread, and deposit/withdrawal methods may leave potential customers with uncertainties and make informed decision-making difficult. Additionally, there are customer feedback reports indicating issues with withdrawal difficulties, platform malfunctions, and position closures without knowledge, which might raise questions about the company's customer service and practices.

Pros Cons
Regulated by The Chinese Gold & Silver Exchange Society Website is inaccessible
MetaTrader4/5 platform for trading Lack of specific information on various aspects
Customer support available Customer feedback raises concerns

Market Instruments

Galaxy Group provides access to two major tradable instruments on their platform: Gold and Silver.

Gold, a precious metal is often sought by investors during times of economic uncertainty. It holds intrinsic value and serves as a hedge against inflation and currency fluctuations. Silver, another precious metal, is known for its industrial and investment uses. It is used in various industries, including electronics and solar panels, which can influence its demand. Additionally, like gold, silver is also considered a store of value and an alternative investment during uncertain economic conditions. Both Gold and Silver have distinct market utilities, attracting a diverse range of traders seeking potential profit opportunities and portfolio diversification.

products

The following is a table that compares Galaxy Group to competing brokerages:

Broker Market Instruments
Galaxy Group Gold, Silver
Alpari Gold, Silver, Forex, Cryptocurrencies, Indices, Stocks, Metals
HotForex Gold, Silver, Forex, Cryptocurrencies, Indices, Commodities, Stocks, Bonds, ETFs
IC Markets Gold, Silver, Forex, Cryptocurrencies, Indices, Commodities, Stocks
RoboForex Gold, Silver, Forex, Cryptocurrencies, Indices, Stocks, Metals

Inaccessible Website

Galaxy Group's website is currently inaccessible, which poses a significant drawback for potential clients. The lack of access denies visitors the opportunity to gather essential information about the company's services, account types, minimum deposit requirements, leverage options, spread details, deposit/withdrawal methods, and the available trading platforms.

Moreover, the limited descriptions available regarding these important aspects further exacerbate the clarity and transparency issues surrounding the company. Potential customers may be left with unanswered questions and uncertainties about the company's offerings, leading to doubts about its credibility and reputation. The absence of comprehensive details raises concerns about the company's commitment to providing transparent and straightforward services. In the financial industry, where trust and confidence are paramount, the lack of clear information may deter potential clients from considering Galaxy Group as a reliable option for their trading needs.

inaccessible-website

Trading Platforms

Galaxy Group offers its clients the widely recognized and reliable MetaTrader4/5 trading platform for executing trades. With its user-friendly interface, MetaTrader4/5 provides traders with powerful charting tools, technical indicators, and various order execution options. Traders can access real-time market data, place and manage trades efficiently, and employ automated trading strategies using Expert Advisors.

Comparison of Trading Platforms:

Broker Trading Platforms
Galaxy Group MetaTrader4/5
Alpari MetaTrader4, MetaTrader5, BinaryTrader
HotForex MetaTrader4, MetaTrader5, HF App, HF Multiterminal, WebTrader
IC Markets MetaTrader4, MetaTrader5, cTrader
RoboForex MetaTrader4, MetaTrader5, R Trader
trading-platform

Customer Support

Galaxy Group offers customer support through Chinese (Simplified) and Traditional Chinese (HK) contact numbers, along with an email channel for clients to seek assistance.

Chinese (Simplified) Contact Number: Clients of Galaxy Group can reach customer support through a Chinese (Simplified) contact number, providing a direct line for inquiries and assistance in their native language.

Traditional Chinese (HK) Contact Number: For clients who prefer to communicate in Traditional Chinese (HK), Galaxy Group offers a dedicated contact number, allowing them to seek customer support in their preferred language.

Email: The company provides customer support through email, giving clients an additional channel to raise queries and receive assistance.

customer-support

Customer Feedback

Customer feedback regarding Galaxy Group reflects both positive and negative experiences. Some clients have encountered difficulties with the withdrawal process, citing obstacles and potential illegal actions by the company. Additionally, there are reports of issues with logging in and unexpected position closures, leaving customers dissatisfied. On the other hand, some customers express concerns about a teacher allegedly pocketing their losses by providing misleading recommendations, leading to account liquidation. These reviews highlight potential issues with the platform's functionality, customer support, and overall trustworthiness.

customer-review

Conclusion

Galaxy Group is a brokerage headquartered in Hong Kong with over 5-10 years of operation, offers trading services in the form of gold and silver instruments, among others. Regulated by The Chinese Gold & Silver Exchange Society, the company provides access to the MetaTrader4/5 platform for seamless trading experiences. While the platform's accessibility remains an issue, customers can seek support through Chinese (Simplified) and Traditional Chinese (HK) contact numbers and email channels.

In conclusion, the lack of specific details on several crucial aspects, along with an inaccessible website, raises concerns about transparency and communication. Customer feedback indicates issues with withdrawals, platform functionality, and questionable practices, which may impact the company's reputation.

FAQs

Q: What are the main tradable instruments offered by Galaxy Group?

A: Galaxy Group offers gold and silver instruments among others.

Q: How long has Galaxy Group been operating?

A: Galaxy Group has been established for 5-10 years.

Q: What type of license does Galaxy Group hold?

A: Galaxy Group is regulated under a Type B License by The Chinese Gold & Silver Exchange Society.

Q: How can customers reach the company's customer support?

A: Customers can contact Galaxy Group through Chinese (Simplified) and Traditional Chinese (HK) phone numbers or via email.

Q: Which trading platforms are available for clients of Galaxy Group?

A: Galaxy Group provides access to the widely recognized MetaTrader4/5 trading platform.

Q: What concerns have been raised by customer feedback about Galaxy Group?

A: Customer feedback highlights issues with withdrawals, platform functionality, and questionable practices.

Review 5

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