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

GLO

United Kingdom|2-5 years|
Suspicious Scope of Business|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://en.glofinance.net/

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Contact

finance@glofinance.net
https://en.glofinance.net/
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

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Broker Information

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Company Name

GLO

Company Abbreviation

GLO

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 5
Previous Detection : 2024-06-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 11 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0546995) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0546995)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

GLO · WikiFX Survey

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Pyramid scheme complaint
Expose
Scam

Fraud that no payment will be made

Dear Sir or Madam, I registered with the online trading platform "GLO Finance" https://en.glofinance.net and wanted to trade financial products. Despite an explicit request, neither my winnings of USD 52,067.71 nor my invested funds of USD 4,639.90 were paid out. I assume fraud and ask for the investigation from any legal point of view. I ask for your help. I have attached further documents. I am always available to answer any further questions you may have as part of your investigation.

2022-08-09 21:04
Unable to Withdraw

Help!! After being lured into GLO FINCE, I cannot withdraw after making profit!!

On 7/13, the teacher lured the teacher into gold to trade foreign exchange at GLO FINANCIAL. The teacher took the order and copied the order. He recorded 9 wins and 9 wins, and the winning rate was 100%. On the way, he kept saying that there would be a big market next week. When I was asked to borrow money and mortgage my car and house, I was shocked, I had already deposited 9,000 US dollars on the platform, and now I am in urgent need of money to withdraw half of the money, but the platform customer service has made things difficult for me!! I am suspicious, so I lock my account and don’t give out any money! I want to try to withdraw again after seven days, and try to make foreign exchange transactions as many times as possible within these seven days. Make sure that the account is active, so that the probability of withdrawal after seven days is higher. I really don’t understand ten thousand dollars. What kind of money is being laundered, I feel like I’m dragging time until the platform runs away. The following is the photo evidence. This amount is very, very important to me. It’s life-saving money, please help me~ Thank you

2022-07-18 19:19
Unable to Withdraw

unable to withdraw

Hello, I can't make withdrawals on GLO Finance anymore. The last one was on Sunday 21 August 2022, perfect. Then on Monday August 22, 2022 GLO Finance said they were doing a maintenance. I tried to make a withdrawal, but it was rejected several times. Message indicating that maintenance and course. GLO Finance support available yesterday, but today no response. In fact, the deposits are made in crypto-currencies: so in USDT, BTC from the Binance website. Below are screenshots of the account status, Forex transactions, the last exchange with support last night and the confirmation email for withdrawals and refused withdrawals. Today the support has not responded yet, and of course I am very, very worried. What is your opinion? All is lost?

2022-08-23 16:28
Unable to Withdraw

Scam Platform

The customer service responded quickly and efficiently when I deposited money, but when I withdrew money, they made things difficult for me. 1. I submitted a withdrawal application within the time specified by them, but I was rejected by their excuses that it was out of the withdrawal time. 2. I applied for a withdrawal again a few days ago, but they said that my account had too few transactions after the deposit, so money laundering alert was triggered and withdrawal was forbidden within seven days, and told me that if I wanted to withdraw money, I would have to make multiple transactions within these seven days so as to have an active account before I could withdraw. is a fraud platform. It is completely unreasonable to freeze my account and forbid withdrawals. It is completely an excuse to advise me to trade multiple times to get rid of suspicion! What's even more ridiculous is that the customer service said that you can continue to deposit money but you can't withdraw it. It's inexplicable and ridiculous~ I will continue to expose their scam! It's ridiculous, please stay away!! The money is very important to me, it is a life-saving Money, please help me and save me~ Thank you!

2022-07-21 21:08

    GLO · Company Summary

    Aspect Information
    Registered Country/Area United Kingdom
    Founded Year 2-5 years
    Company Name GLO
    Regulation No Regulation
    Minimum Deposit $50
    Maximum Leverage 500:1
    Spreads As low as 0.0 pips for major currency pairs
    Trading Platforms MT5
    Tradable Assets Forex pairs, indices, commodities, precious metals, energy
    Account Types FIX Account, MINI Account, ECN Account, RAMM Account
    Demo Account Not specified
    Islamic Account Not specified
    Customer Support 24/7 availability via telephone, email, and online chat
    Payment Methods Not specified
    Educational Tools Daily market updates, briefings on significant events, market experts

    General Information

    GLO is a company that is registered in the United Kingdom with the identity of the company holding it as a secret. GLO boasts that it offers more than 150 trading instruments through its MT5 trading platform, with leverage as high as 500:1, spreads as low as 0.0 pip.

    GLO offers a range of market instruments for trading, including forex pairs, indices, commodities, precious metals, and energy. However, given the concerns raised by users and the lack of regulation, engaging in trading with GLO may pose risks and potential financial loss. The broker provides different account types, such as FIX, MINI, ECN, and RAMM accounts, each with its own features and benefits.

    GLO's trading platform is based on MT5 and offers access to various instruments, low spreads (though specific details are not provided), and over 80 technical tools for analysis and charting. The broker claims to provide educational resources and round-the-clock customer support services. However, the negative reviews and complaints regarding withdrawal issues cast doubt on the reliability and trustworthiness of GLO as a broker.

    Considering the lack of regulation, numerous user complaints, and allegations of fraudulent activities, it is advisable to exercise caution and explore alternative regulated brokers with a more reputable track record.

    basic-info

    Pros and Cons

    When considering the pros and cons of GLO, there are several factors to take into account. On the positive side, GLO offers a wide selection of market instruments, allowing traders to access various financial assets for trading. Additionally, the availability of multiple account types provides options to cater to different trading preferences and risk tolerances. The broker also offers a high leverage ratio of 500:1, which can be advantageous for traders looking to maximize their trading potential. Access to the MT5 trading platform further enhances the trading experience, providing a comprehensive set of features and tools. Moreover, GLO provides daily market updates and educational content to keep traders informed. Lastly, the presence of 24/7 customer support is a valuable resource for addressing any concerns or inquiries. However, there are several cons to consider as well. GLO has been reported as unauthorized by the regulatory agency, raising concerns about its legitimacy and adherence to regulatory standards. Users have complained about difficulties in withdrawing funds, indicating potential issues with the platform's withdrawal procedures. Additionally, there have been reports of requests for payment to open an express channel that were not met, potentially affecting the overall reliability of the platform. The lack of specified spreads and commissions information also leaves traders with uncertainty regarding trading costs. Negative reviews and a lack of trust among users further highlight potential risks associated with GLO. Furthermore, the official website is currently unavailable. It is essential to carefully evaluate these pros and cons before engaging with the broker to make an informed decision.

    Pros Cons
    Wide selection of market instruments Reported as unauthorized by regulatory agency
    Multiple account types available Users complain about difficulty in withdrawing funds
    Hight leverage 500:1 Requests for payment to open express channel not met
    Access to the MT5 trading platform Lack of specified spreads and commissions information
    Daily market updates and educational content Official website unavailable
    24/7 customer support Potential risks and concerns regarding reliability

    Is GLO Legit?

    GLO FINANCE, which operates with license number 0546995, is regulated by the National Futures Association (NFA) in the United States. However, the current status of GLO FINANCE is reported as unauthorized by the regulatory agency. It is important to note that this information is provided with a warning about a low score and the suggestion to stay away from the broker. Additionally, WikiFX has received 11 complaints about this broker in the past 3 months, indicating potential risks and a potential scam. Furthermore, the broker is reported to exceed the business scope regulated by the NFA and lacks trading software.

    regulation

    Market Instruments

    With GLO, traders can get access to an extensive range of trading instruments, totally including the following five classes:

    • Forex pairs- more than 55 global currency pairs;

    • Indices-Major global indices;

    • Commodities-sugar, cocoa, wheat, and more;

    • Precious metals gold, silver, palladium, and more;

    • Energy-crude oil, natural gas, and all primary energy;

    Account Types

    FIX Account: GLO offers FIX accounts, which have a fixed spread size that remains unchanged regardless of market conditions. This account type provides traders with stability and predictability in terms of their trading costs, as the spread size remains constant.

    MINI Account: GLO also provides MINI accounts, which come with reduced margin requirements that are 100 times lower than standard accounts. This account type allows traders to trade with a smaller initial investment, making it more accessible for those with limited capital.

    ECN Account: GLO offers ECN accounts, which feature a floating spread. Unlike fixed spreads, the spread size in ECN accounts can vary depending on market conditions. This account type is suitable for traders who prefer dynamic spreads and are comfortable with potential fluctuations in trading costs.

    RAMM Account: GLO provides a unique account type called RAMM account, which is designed for copying trades of successful traders. With a RAMM account, traders can automatically replicate the trading strategies and positions of experienced traders, allowing them to potentially benefit from their expertise and performance.

    account-types
    Pros Cons
    Variety of account types to choose from Fixed spread may not be as competitive as floating spreads
    Reduced margin requirements for small traders Smaller trading size may limit profit potential
    Ability to automatically replicate the trading strategies of experienced traders Spreads may fluctuate, which can increase trading costs
    Not suitable for traders who want to have complete control over their trading

    Spreads & Commissions

    The website mentions that the spreads can be as low as 0.0 pips for major currency pairs. However, the specific spreads for individual instruments, including the benchmark EUR/USD pair, are not specified. In terms of commissions, the information available states that there is a commission of $4 per lot, but it does not provide further elaboration or specify the lot size.

    spread-commission

    Minimum Deposit

    The minimum deposit requirement for GLO FINANCE is $50. This amount represents the minimum sum of money that an individual needs to deposit in order to open an account with the broker.

    Leverage

    Concerning trading leverage offered by GLO, it is considered generous, reaching up to 500:1. Leverage do allow you to start you forex trading journey with a small amount of fund, however, if you use too high leverage, you losses will be magnified.

    Spreads & Commissions

    On the GLO website, we get the information that it seems to offer super competitive spreads, as low as 0.0 pips on major currency pairs. However, it doesnt specify spreads on particular instruments, even the benchmark EUR/USD pair. Still, commissions applied are not mentioned, either.

    Swap Fees

    GLO claims to provide competitive swap and transparent overnight interest. Currently, overnight interest is only charged on spot commodities. In the case of commodities, there is only an expiration date and no overnight interest.

    Trading Platform Available

    In terms of trading platforms available, GLO gives traders the access to various trading instruments on MT5, suitable for PC, Mac, and various mobile devices. Some of the MT5 features including the following:

    1000 traded commodities, including foreign exchange, precious metals, and energy;

    • Log in 7 platforms with one account

    • Spreads as low as 0.0 pips

    • One-click transaction

    • Over 80 technical tools

    Trading
    Pros Cons
    Access to the MT5 trading platform No specified spreads and commissions information
    Compatibility with PC, Mac, and various mobile devices Lack of trust and negative reviews from users
    Wide variety of tradable instruments Potential risks and concerns regarding the withdrawal process
    Over 80 technical tools for comprehensive analysis and charting capabilities Reported as unauthorized by regulatory agency
    Low spreads, with rates as low as 0.0 pips

    Educational Resources

    GLO's educational resources aim to keep its clients informed and updated on market trends and key events that may impact global markets. Through their research and educational center, they provide daily updates on major trading hours and offer briefings on significant events. Additionally, GLO has a team of 20 market experts who deliver educational content to their customers in various languages.

    Customer Support

    GLO provides customer support services that are available round the clock. They offer various channels through which customers can reach out to them, including telephone, email, and online chat. The telephone number provided is +4473603253281, and the email address is finance@glofinance.net. It is worth noting that GLO's customer support operates 24/7 based on Greenwich Mean Time (GMT). Customers can utilize these communication channels to seek assistance or address any queries they may have.

    Reviews

    The reviews of GLO on WikiFX highlight various issues and concerns raised by users. Several reviewers have complained about their inability to withdraw funds from the platform, describing GLO as a fraud or scam platform. One user mentioned that despite making a substantial profit, they encountered difficulties in withdrawing their funds and suspected the platform of fraudulent activities. Additionally, there were complaints about obstacles and delays in the withdrawal process, as well as requests for payment to open an express channel that never materialized. These reviews indicate a lack of trust and dissatisfaction among users regarding GLO's withdrawal procedures and overall reliability.

    reviews

    Conclusion

    GLO is a broker that operates with a regulatory license from the National Futures Association (NFA) in the United States, but the current status of GLO is reported as unauthorized by the regulatory agency. WikiFX has received numerous complaints about the platform, suggesting potential risks and a potential scam. Users have expressed concerns about their inability to withdraw funds, encountering obstacles, and delays in the withdrawal process. Some reviewers suspect fraudulent activities and describe GLO as a fraud or scam platform. While GLO offers a wide range of market instruments and account types, its lack of transparency and negative user experiences regarding withdrawals raise significant concerns about the platform's reliability and trustworthiness.

    FAQs

    Q: Is GLO a legitimate broker?

    A: GLO FINANCE is regulated by the National Futures Association (NFA) in the United States, but its current status is reported as unauthorized. There have been numerous complaints about the broker, indicating potential risks and a possible scam.

    Q: What instruments can I trade on GLO?

    A: GLO offers a range of trading instruments, including over 55 forex currency pairs, major global indices, commodities such as sugar and wheat, precious metals like gold and silver, and energy resources such as crude oil and natural gas.

    Q: What types of accounts does GLO offer?

    A: GLO provides FIX accounts with fixed spreads, MINI accounts with reduced margin requirements, ECN accounts with floating spreads, and RAMM accounts for copying successful traders' strategies.

    Q: What leverage does GLO offer?

    A: GLO offers significant leverage with a maximum ratio of 500:1. However, high leverage should be used with caution due to the potential for amplified losses.

    Q: What are the minimum deposit requirements for GLO?

    A: The minimum deposit required to open an account with GLO FINANCE is $50.

    Q: What trading platform does GLO provide?

    A: GLO offers the MT5 trading platform, which is compatible with PC, Mac, and mobile devices. It features low spreads, one-click transactions, and over 80 technical tools for analysis and charting.

    Q: Does GLO provide educational resources?

    A: GLO offers educational resources, including daily market updates and briefings on significant events. They have a team of market experts who provide educational content to customers in various languages.

    Q: How can I contact GLO's customer support?

    A: GLO's customer support is available 24/7 via telephone, email (finance@glofinance.net), and online chat.

    User Reviews

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    5

    Comments

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    Countryside
    more than one year
    Alright, so GLO Finance, UK-based, claims it's the real deal with MT5 and a massive market. But hold on, NFA says they're not playing by the rules. They throw around fancy terms like high leverage and varied accounts, but user complaints about withdrawals and a lack of clarity? Not cool. Maybe tread carefully here and explore brokers that play it straight.
    2023-12-11 18:29
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    0
    Baifern Waran
    more than one year
    GLO's promises turned into a withdrawal nightmare. They claim low spreads, but the reality is delays, obstacles, and unmet requests for express channels. I suspect fraudulent activities. Proceed with caution or find a more reliable broker.
    2023-12-08 17:34
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    0
    0
    Buzz1224
    6-12months
    Where and how did you report your fraud cases?
    2023-11-05 19:22
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    0
    0
    睿3852
    more than one year
    Your website has become an ad traffic site and a dozen people have been scammed! These are just the people who have reported on wikifx, and there must be more people who are actually being misled. Damn liar!
    2022-12-15 16:29
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    0
    0
    一米阳光17310
    more than one year
    Don't trade with GLO! Totally a scam company. I hope more people can see my review and stay away from this scammer. I have been ripped off almost $10,000! They rejected my withdrawal request for various reasons.
    2022-12-02 09:47
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    United States
    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
    Telegram:+60 103342306
    Whatsapp:+852-6613 1970;
    License or other information error corrections, please send the information to:qawikifx@gmail.com
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