GalaxyTrade Review: a Suspicious Broker

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GalaxyTrade Review
  • Fund Safety
  • Customer Support
  • Regulation
  • Contact Details


GalaxyTrade will soon leave the market. This does not mean they will not be back. Con artists keep repeating once their cover is blown. The address that the scheme is using has been overused by fraudsters. Therefore, we cannot know where the venture is conducting its business from.

GalaxyTrade sounds like a promising investment company. However, hold your horses and do not be quick to judge. Saving your time and researching a venture may save you from leaving a huge dent in your trading account.

The platform is new in the market. The registration took place in March 2021. We do not endorse brokers that lack a trading history. The scheme aspires to be in the industry for only one year. It is more likely that they will not renew the registration.

GalaxyTrade Review, GalaxyTrade Company

GalaxyTrade is proudly an anonymous investment venture. The company does not see anything wrong with this, but we do. Investors need to know the people that are dealing with their funds. Their qualification, skills, and images should be published.

This way, you will know who to hold accountable when things go wrong. The traffic that is visiting the broker is insufficient and low. It proves that not many people are interested in the services of this scheme.

Invest with a licensed forex trading company that is genuine. Regulatory bodies will protect you from scammers. If you deal with a solid broker you are going to enjoy the safety of funds. The trading conditions are also ideal. Review

GalaxyTrade is trading forex, bonds, indices, metals, stocks, and commodities. They promise profit and success to those that join the scheme. The venture is eying for investors that have high-risk appetites and want to make huge profits.

The broker has trading bots that analyze the market on behalf of traders. You can achieve your desired outcome. The trading signals keep popping whenever you are in need. Investors only need to open an account to gain from the system.

GalaxyTrade brags that it executes a trade at lightning speed. The company should be speaking on measures it has enforced to protect traders’ funds. The platform only wants to cloud the mind of investors by attracting them with perfect sales pitches.

The venture claims it is leading in the market. However, these are false statements to lure in more victims. Investment is all about statistics. Sadly, this is something that the shady broker lacks. The broker state it segregates investors’ funds in banks.

Nonetheless, they leave out the name of the financial institution. You cannot rely on the word of the offshore scheme. The chances of getting back your money from this entity are slim. There is no security in this company.

Trading Conditions

Offshore brokers usually avail basic trading platforms for traders. GalaxyTrade has a Web trader that does not have many features. The best trading platform in the industry is MT4 and MT5. Their features will help you trade efficiently.

The spread to expect is 3 pips. The widespread is not profitable to traders. The platform is the sole beneficiary of such limits. Trades are subjected to paying more. The average standard of the market is 1.5 pips. Several entities are offering even below 1 pip.

GalaxyTrade leverage for most currency pairs is 1:200. Sound lucrative and appealing at first, but it is a common trait with offshore firms. Legit companies that have a license offer fewer limits. The FCA caps the leverage to 1:30 while the USA and the Canadian financial bodies allow that of 1:50. The shady scheme is pushing clients to hazardous limits. They are the only ones that benefit while you end up making huge losses.

Withdrawal and Deposits

The minimum amount that you can deposit is $250. Available payment options are; MasterCard, Visa, and Bank Wire. You can raise the credit and debit option as you can get your funds from up to 540 days.

We do not know the period it takes for the clients to get back their funds after requesting a withdrawal. GalaxyTrade has four trading accounts. To get the supreme service, you need to deposit $25,000.

In return, you will get customized services, direct access to the market, protection from volatility, negative account balance protection, real-time charts, several funding methods, and fast withdrawal.

Trading signals are not available in every account. We do not know the risk mitigation method the entity is using. Other low accounts are not protected against negative account balance, which is a big red flag. Finacial bodies require that all accounts are protected.

Customer Support and Contact Details

GalaxyTrade lacks transparency. The company allegedly has a multilingual support team. You can reach them 24/5. They are helpful, and any issue you face shall be resolved amicably. They also have webinars to assist clients in getting insight and boost their trading skills.

The entity feature both a phone number and an email address. GalaxyTrade originates from Dominica. An offshore scheme is perilous, and you cannot sleep peacefully as they can exit the industry at any given time.

The support will only be responsive so long as you are willing to deposit more funds. Things get ugly when you get broke. Their phone will never go through, and you will be left wondering what happened.

You should invest with reliable companies that understand the importance of hiring professional support. They are your listening partner, and any issue faced is handled ethically.

Regulation Status of GalaxyTrade

Plethora Group LTD is the parent company of GalaxyTrade. The venture is based in Dominica. The government of this area does not have a financial regulator that oversees brokers. This is, therefore, a paradise for scammers.

There is no segregation of funds in this platform. The money that you deposit shall go to the account of fraudsters. You are only going to suffer a bad outcome if you are foolish enough to believe the narrative of his scheme. Review, Platform

GalaxyTrade will soon leave the market. This does not mean they will not be back. Con artists keep repeating once their cover is blown. The address that the scheme is using has been overused by fraudsters. Therefore, we cannot know where the venture is conducting its business from.

There are multiple genuine companies that you can use to trade without risking your safety. You can receive compensation once things go wrong. The entities also report their daily activities to the financial bodies. Hence, your money cannot be misused.

Is GalaxyTrade Legit?

The company is not legit. They have several red flags that make them a nasty scheme. You will not make profits with them. You must stick to FCA, CySEC, NFA, ASIC, or FTA brokers.

The entity is providing investors with bonuses. Various regulatory bodies in the market are against these lucrative. This is because there are usually. After all, hidden requirements clients must meet. The trading volumes are unfair, and you end up giving up.

For instance, to cash out a trading bonus from GalaxyTrade, you must know trad a volume 25 times the deposit plus bonus amount. Walk away from the scheme while you still can.

Final Verdict

GalaxyTrade advertises tight spread, fast trade execution,  performing platform, and excellent trading tools. The company is only a few months old, but it boasts having over 20K active clients. This is not possible as they have not built a name for themselves.

Trade wisely and avoid dealing with shady schemes. Here is a list of the best forex trading companies that have unbeaten history. You can read clients’ feedback to see what to expect. The trading results are also available for all.

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