As you know, GlobalFX was an anonymous brand that started luring clients in 2023. The company asked for a minimum deposit of $100, offering unspecified trading services. All the supposed trading was done through the domain globalfx.org, the one that’s currently inactive.
And while many would say that the company was exposed enough after all the regulatory warnings and has run away, we know better than that. Let’s continue uncovering the plot in this extended GlobalFX review.
| Regulated by: | Unregulated |
| Is This Company Safe? | No, it’s not safe |
| Known Websites: | Globalfx.org phemexglobalimited.org |
| Have Warnings from: | FCA, FSMA, FINACOM, A-TVP, CNMV, Finanstilsynet, FI Estonia |
| Registered in: | UK / France (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | N/A |
| Maximum Leverage: | N/A |
| Minimum Deposit: | $100 |
| Deposit Bonus: | Available |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Since this company is unlikely to return your money and has already once vanish, you must contact your bank, financial regulator, or simply reach out to us for professional assistance in recovering your funds. |
GlobalFX Is Blacklisted In Many European Nations
It’s difficult calling GlobalFX a “company”, since it’s not incorporated anywhere, and does not adhere to any regulatory constraints.
On the globalfx.org website, we can see a claim that the company is registered with the UK Companies House with the reference number 06341199. This is a complete lie, since this number belongs to a firm that provides real estate leasing services.
Checking the FCA register we found our first warning about GlobalFX operating without a license. Soon enough, additional warnings popped up. Another one was issued by CONSOB, and it was quickly repeated by CNMV and MNB. A-TVP reposted the original FCA warning on their website as well.
With GlobalFX being blacklisted by so many regulators, it has become evident that this entity is a full blown scam. Checking the databases of other regulators, namely FINMA, FSMA, BaFIN, CySEC, ASIC, CBR and NFA returned no licensed companies with the name GlobalFX.
We did find another fraud warning issued by CBR about a fraud operating a domain globalfx.pro. We could not find any definite proof that these two frauds were interconnected. However, it is important to mention that fraudsters often change their domains once they get in hot water with the authorities.
GlobalFX Becomes Phemex Global Ltd
Our new company, Phemex Global Limited, is allegedly based in France. Why allegedly? Because, just like its fellow broker, it has no proper regulations. We could not find a Phemex Global Ltd license with AMF or any other Tier 1 authority.
As you can tell, the scamming pattern is absolutely the same. You’re asked to deposit $100 via crypto and either stake or invest that amount. However, keep in mind that the payout system is the same – once you ask for the money back, you won’t get a penny.
There’s a good reason why globalfx.org is inactive, and Phemex Global Ltd overtook it. Since we have information that they’re still calling their old database of clients and convincing them to trade, be wary. Whether or not you worked with the old brand, keep asking for your money back.
And if you cannot get it, book a free consultation with our chargeback experts today.
Nobody Is Safe From GlobalFX Scam
The GlobalFX scammers claim that their website was operating uninterrupted for about 7 years. When you check the domain background info on Whois, you will see that the website was launched in mid-2023.
The main target of these swindlers were people from these nations:
- United States
- United Arab Emirates
- Romania
- India
- Zimbabwe
Such a young company in a cut-throat financial industry can never rise to prominence without some serious advertising. This puts scammers like GlobalFX and Forex48 in an interesting situation, because they don’t want to attract authorities.
To get new people to join their platform, GlobalFX uses so-called Boiler Room Agents. Their job is to find new investors and rob them blind.
Once these agents have persuaded the victim to join the site and invest, they will be greeted by various pop-ups about some person withdrawing a 6-digit amount from the platform.
Investors Didn’t Like Their Experience
The few reviews about GlobalFX we found on Trustpilot were not exactly stellar. There weren’t many opinions, but 100% of the testimonials rate the company with 1 star.
This is what the investors have to say:
“ immediately following signing online, I saw an unusual amount of deceitful actions and suspicious ways, but as soon as they have your money, it is gone. They also didn’t respond to my withdrawal request. […] “
“ In my opinion it’s a no no for me, simply because there method of operation isn’t professional for my taste. They are only concerned on taking ones money. “
These professional con artists know how to get under your skin. If you have deposited with GlobalFX scam, contact our recovery experts to find out how to get your money back!
How Much Does It All Cost?
The GlobalFX scam doesn’t let their clients know how the company operates. This includes the complete lack of any information about various fees, commissions or other charges.
The Terms and Conditions page on the globalfx.org website is purposely vague. Many other scammers like FCF Markets do this as well, so that they can charge various hidden fees and steal more money.
Referral Pyramid
The GlobalFX affiliate programme promises various benefits for users who bring more people to the platform. These range from 10% of deposits from first-line referrals to 2% for third-line referrals.
You may have noticed that these are very similar to how Pyramid Schemes work. With GlobalFX, nobody can withdraw any money, which makes them even more dangerous.
Unbelievable Trading Conditions
Swindlers behind GlobalFX really try to push the idea of a successful investment firm. Some of the allegations found on the website make it seem like GlobalFX have a money tree somewhere, ripe for the picking.
Investment plans range from 10% to 45% of guaranteed profits. Imagine, you click one button on the internet, and in 24 hours the money you invested has grown almost by half. If it seems incredible, that’s because it is.
Financial Sectors GlobalFX Invests In
Allegedly, GlobalFX offers investment returns in a number of various lucrative sectors. What they fail to do is disclose which investment strategies they use, or which developing firms are investment beneficiaries.
These are the sectors through which GlobalFX allegedly generates income:
- Forex
- Agriculture
- Energy
- Real Estate
- Gold
- Retirement and Insurance
Client Accounts And Investment Plans
In order to create a GlobalFX Login, you must provide a valid cryptocurrency wallet address for Bitcoin, Ethereum and USDT, which we were reluctant to do. There is only a single account type with no demo, so we couldn’t test these claims first hand.
Here is an overview of GlobalFX investment plans:
- Basic – $100 to $999, 10% profit over 24 hours
- Standard – $1 000 to $2 499, 15% profit over 72 hours
- Premium – $2500 to $4 999, 20% profit over 120 hours
- Diamond – $5 000+, 25% profit over 168 hours
Inaccessible Trading Platform
The main trading platform at GlobalFX is available for investors only, and unfortunately we couldn’t create a GlobalFX Login account.
In general, investment firms don’t necessarily require complex trading software. However, knowing that GlobalFX is a fraud, and that they basically steal all the money, it’s likely that they don’t operate any trading software.
Risky Financial Channels
It seems that GlobalFX only deals with cryptocurrency transfers when it comes to financial channels. These are inherently dangerous for investors, because it’s impossible to track these crypto assets without specialized services like CypherTrace.
GlobalFX knows this, and since they don’t allow a withdrawal, depositing any funds with them is as good as throwing it in a fire pit. For help in recovering the funds you lost with GlobalFX, contact our legal experts.
Customer Support
The customer support at GlobalFX is available through Live Chat, and email. We contacted customer support with usual questions a trader might have, and an agent responded in a short amount of time.
Before long, they turned to pressuring us to invest money with the company. In a blink of an eye, they redirected the conversation to avoid answering our original question.
How To Recover Money From The GlobalFX Scam?
GlobalFX is a known fraudulent entity that solicits their service worldwide. This alleged investment firm does not have any authorisation to provide the mentioned services. This has prompted many financial regulators, including FCA, CONSOB, CNMV and A-TVP to issue fraud warnings about GlobalFX.
Sincerely, this investment firm has no redeeming qualities. If you have already deposited funds to the GlobalFX scam, consider seeking reimbursement. You may contact our recovery experts through the live chat, and book a free consultation at any time for more information.
FAQ Section
What is GlobalFX?
GlobalFX claims to be an investment firm of renown, but this is far from the truth. They are a fraudulent entity that steals money from investors.
Is GlobalFX Scam Or Legit?
GlobalFX is a completely illicit company. FCA, CONSOB, CNMV and A-TVP have blacklisted the company, and issued public warnings. For help in asset recovery, contact our legal experts via the live chat.
What Are The Trading Platforms Of GlobalFX?
The GlobalFX scam does not offer any trading platforms for their clients. All investments are handled through the allocated company agent.
