Globalextrading.net Review: A Closer Look at an Unlicensed Broker

Globalextrading.net is a website that has recently appeared on the online trading scene, claiming to offer a range of investment opportunities to its users. The site promises high returns and easy trading, but is it too good to be true? In this review, we will take a closer look at Globalextrading.net and explore why it is considered an unlicensed broker.

Unlicensed Broker: Missing License Info and Fake Credentials

Upon reviewing the website, it becomes clear that Globalextrading.net is lacking in transparency when it comes to its licensing and credentials. There is no visible information about the company’s regulatory status, and a search of reputable financial regulatory bodies reveals no record of the company being licensed. This is a major red flag, as legitimate brokers are required to obtain licenses from regulatory bodies in order to operate. Furthermore, the site’s claims of being regulated by prestigious regulatory bodies appear to be false, as there is no evidence to support these claims. This lack of transparency and fake credentials are clear indicators of an unlicensed broker.

Red Flags and Suspicious Behavior

A closer examination of the site reveals several red flags and suspicious behaviors. The site makes false promises of guaranteed high returns, which is a common tactic used by investment scam artists to lure in unsuspecting victims. Additionally, the site’s trading platform appears to be outdated and lacks the features and security measures of reputable trading platforms. The site’s customer support is also unresponsive and unhelpful, which suggests that the company is not interested in providing legitimate support to its users. These shady practices and false promises are all hallmarks of an unlicensed broker.

How to Spot a Scam Broker

So, how can you identify unlicensed brokers like Globalextrading.net? Here are a few tips:

• Research the company’s regulatory status: Legitimate brokers are required to obtain licenses from regulatory bodies.
• Be wary of false promises: If an investment opportunity seems too good to be true, it probably is.
• Check the website’s transparency: Legitimate brokers are transparent about their company information, licensing, and credentials.
• Look for reviews and testimonials: Check if other users have had positive or negative experiences with the broker.

Steps to Take After Falling for a Scam

If you have already fallen victim to Globalextrading.net or another unlicensed broker, there are steps you can take to protect yourself:

1. Stop all communication: Immediately stop communicating with the scammer and do not provide any further personal or financial information.
2. Report the scam to relevant authorities: Report the scam to your local financial regulatory body, as well as to the relevant authorities in the country where the scammer is operating.
3. Contact your bank or payment provider: Inform your bank or payment provider about the scam and ask them to freeze your account to prevent further unauthorized transactions.
4. Consider identity theft protection: If you have provided personal information to the scammer, consider investing in identity theft protection to protect yourself from further fraud.
5. Warn others through reviews and scam reporting websites: Share your experience with others by writing reviews and reporting the scam to websites that track scam brokers. This can help prevent others from falling victim to the same scam.

In conclusion, Globalextrading.net is an unlicensed broker that exhibits all the hallmarks of an investment scam. By being aware of the red flags and taking steps to protect yourself, you can avoid falling victim to scams like this. Remember to always research a company’s regulatory status, be wary of false promises, and check the website’s transparency before investing. If you have already fallen victim to a scam, take immediate action to protect yourself and report the scam to the relevant authorities.