Global CFD Review – Main Features, General Obstacles, And Dangers
This broker is operated by D&D Venture Project Ltd. Apparently, this company is registered in the UK. Yet, none of the reliable registers hold any records of this firm.
Even though the new domain was registered recently, in 2023, their activities have been present since 2020. Through different domains, of course. But regardless of the company name, there are some basic signs you must watch for when choosing a broker. Read this Global CFD Review and find them all.
|Regulated by:||No regulations|
|Is This Company Safe?||No|
|Known Websites:||Globalcfd.com, globalcfd.co, globalfxcfd.com|
|Have Warnings from:||CONSOB, DFSA|
|Registered in:||UK (allegedly), Mauritius|
|Trading Platforms:||Web trader|
|Trading Assets:||Forex, Commodities, Indices, Shares, Futures|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Considering multiple warnings against the company and a shady bonus policy, you can forget about smooth withdrawals here. On the first sign of any irregularity, contact our chargeback experts for advice.|
Legal info: Is Global CFD legit or a scam?
The Global CFD broker, as the UK broker, should have an FCA license. That’s mandatory for all UK brokerages. Yet, the FCA register is empty upon search of this firm. Even though this is more than enough for you to have a clue, let’s take a look elsewhere. Firstly, in the FSC Marutius register, since they claim to be licensed there. But they are not.
Some of the top-tier worldwide regulators are BaFin, ASIC, CFTC, CNMV and CONSOB. However, none of these have ever issued a license to GlobalCFD firm. Therefore, all their statements, offers, and policies become questionable. Especially after a warning from Italian CONSOB that was republished later by Danish DFSA.
Who are Global CFD clients?
In fact, seeing some countries on their target list is quite disturbing. Especially since some of these are strictly regulated ones with strong federal laws.
If you are coming from any of the following countries and you were a victim of this swindler, contact our refund specialists. Many scammed traders are coming from:
- United States
- United Kingdom
Leverage, Commissions, Spreads, Fees and Taxes
If you didn’t know, the maximum allowed leverage in the UK is 1:30, mainly due to strict licensing requirements. But this value is for retail traders. In the US, the situation is a bit different, and you can get up to 1:50. Thus, you might be wondering why this is important. Simply because this firm is hiding its leverage. So, if you get anything higher than mentioned, run.
As for the spreads, these are starting from 0.7 pips. But we wouldn’t stick to it so hard. On top of that, the company is hiding all of its fees and commissions. Practically, without transparency, they can make up anything they want. And if you are not experienced, you might fall for the trick.
Of course, like any other swindler, Global CFD broker is offering bonuses. Which includes a malicious clause that will definitely prevent you from withdrawing any funds. But if you are reading carefully, you might avoid it.
In any case, for every $50 bonus, you must reach a trading volume of $500k. Imagine reaching $500k with a $1k investment. You would be considered a genius if you succeed.
Global CFD Trading Features
With their software choice, none of the advanced features are available. Starting with copy trading to the Expert Advisors feature.
Not to mention, the company doesn’t offer any kind of fund protection features. For instance, negative balance protection or guaranteed stop-loss. All in all, too much risk is included.
Trading Platforms Available
Instead of reliable outsourced software like MetaTrader, the company opted for Web Trader, even though they advertise MT4. Anyway, these web traders are easily controlled by their agents through the back end.
You will recognize that by these swindlers telling you what’s happening next, and every time you are in a call with them, there’s some great opportunity.
Available Trading Assets
One of the key facts when choosing a broker is the instrument’s availability. If the company has a poor offer, you won’t have many choices to invest in. Yet, with Global CFD company, you can invest in more than 200 assets from a couple of categories. These are:
- Forex – GBP/EUR, USD/HUF
- Commodities – gold, platinum
- Shares – Nvidia, IBM
- Indices – DAX 30, FTSE 100
Another key fact is that the minimum deposit requirement is higher than the average. All traders are getting the same trading conditions, and for a start, they have to deposit at least $500, which is quite a lot for the unregulated broker on a warning list.
To understand how scam brokers trick traders with account types to deposit more, check our Cryptogainers review.
Mobile Trading App
Unfortunately, dedicated iOS and Android apps are not available with this company. Instead, mobile traders have to bother with browsers to access their accounts. Which is not the most convenient method, especially for experienced traders.
In addition to all of the mentioned flaws, they are not offering a demo account. Primarily because their platform is very poorly designed and doesn’t offer any advanced tools. But in any case, a bit of transparency wouldn’t hurt.
Global CFD Withdrawal
Considering quite a mysterious withdrawal policy, we can’t be sure if the withdrawals will be processed properly. After all, there is a bonus policy that will prevent you from that in the first place.
Not to mention, the only withdrawal method is a wire transfer with unknown fees. So, get ready for more withdrawal tricks with our Boney Market review.
For the contact options, the company offers e-mail, a Mauritius phone line, and a web form. Yet, the working hours are not revealed. So, you’ll have to test your luck with them. On top of that, without transparent reviews, it’s hard to know if their customer service is reliable or not.
Key Information To Consider About Global CFD?
In the first place, the company is based offshore. Even though they claim to have an FSC license, that’s a lie. FSC Mauritius register doesn’t have any records of GLOBAL CFD Ltd in their database. On top of that, they are using a shady bonus policy and non-transparent withdrawal conditions.
Considering too many misleading details on their website, you should be prepared for the worst. But if that already happened, contact our refund specialists as soon as possible. After all, the first consultation doesn’t cost you. Therefore, get in touch today.
Who is a Global CFD Broker?
Global CFD broker is an offshore trading firm without any regulations and credibility. But instead, they have earned a scammer award from CONSOB.
Is Globalcfd.com Worth My Money?
Not at all. Investing here includes trading without any funds protection features. On top of that with shady software and even shadier conditions.
What Can I Do If I Was Scammed While Trading Forex?
Since this firm is not licensed, the best option is to apply for a refund. To avoid any mistakes feel free to contact our experts for detailed guidance.