Hi Team, i have invested 5000USD with this brokerage and they are not returning my money. it's been 8 months no response from them. Please help me to recover this amount.
General Information & Regulation
Global FT Market presents itself as an international forex brokerage registered in Saint Vincent and the Grenadines with Registration No. 26395 BC 2021. The broker claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and variable spreads from 0.6 pips on the MetaTrader4 and web trader trading platforms, a choice of five different live account types, as well as copy trading service and 24/7 multilingual customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Global FT Market 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 1.22/10. Please be aware of the risk.
A trader shared his terrible trading experience in the Global FT Market platform at WikiFX. He said this platform is a scam company and he was unable to withdraw. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.
Global FT Market advertises that it offers access to more than 155 trading instruments in financial markets, including trading and investing in top stocks and ETFs, currency pairs, indices and commodities (metals, etc.) via CFDs.
Apart from demo accounts, Global FT Market claims to offer five types of trading accounts, namely Standard, Pro, Raw, Cent Account and Insurance. The minimum initial deposit amount is extremely high-$500 for all account types. In comparison, the licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard, Pro, Raw and Insurance account can experience leverage of 1:500, while only the Cent Account can enjoy the maximum leverage of 1:1000. 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 & Commissions
Global FT Market claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account is between 1 and 1.5 pips, the Pro and Insurance account have floating spreads from 1 pip, the Raw account holders can enjoy the tightest floating spreads from 0.6 pips and the Cent Account has spread from 1.5 pips. As for commissions, the broker charges the clients on the Standard, Pro and Cent Account with no commission, while the Raw and Insurance account members have a commission of $3 per lot per size.
Trading Platform Available
Platforms available for trading at Global FT Market are the leading MetaTrader4 and web trader. The MT4 is compatible with Android, Windows, iOS and Apple macOS terminals. 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.
Deposit & Withdrawal
Global FT Market says to work with numerous means of deposit and withdrawal choices, consisting of UPI, credit/debit cards, Bitcoin, Skrill, Neteller, Visa, MasterCard, cryptocurrency, Net banking and Indian local banks. The minimum initial deposit and withdrawal amounts differ depending on the methods. The broker says it charges no deposit or withdrawal fees. The execution time of deposits and withdrawals also varies on methods. Most deposit and withdrawal requests can be processed immediately.
Global FT Markets customer support can be reached by WhatsApp: +357 25 030326, email: email@example.com, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org. You can also follow this broker on social media platforms such as Twitter, Facebook, YouTube and LinkedIn.
No.51, The Signature Building, Changi, Business Park Central 2, No.04-05, The Signature, Singapore - 486066 (Singapore);
HDS Business Centre Tower Cluster M1, 33rd Floor - Dubai - United Arab Emirates (Dubai);
Parque Cidade Corporate Building, SCS Quadra 9 Lote C - Asa Sul, Brasília - DF, 70308-200, Brazil (Brazil);
39A, Tomasza Zana street 4th floor, 20-634 Lublin, Poland (Poland).
Address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines.
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.