FxGlory Review

Regulated by: NONE

Headquarters: SVG

Ranking: 33

Spread: 2.0 pips for EURUSD

Leverage: 3000:1

Minimum Deposit: $1

FxGlory Review & Author's Comment

FxGlory was founded in 2011 and is registered in St. Vincent and the Grenadines which is a popular destination for online forex and CFD brokers. The Broker is not regulated by any financial watchdog which means that there is not any authority that oversees the financial services offered by FxGlory.

FxGlory provides the state of the art trading platform MetaTrader 4 (MT4) to provide access to the financial markets for its clients. When you open a trading account at FxGlory, you will be able to invest in currency, commodity and oil markets.

In addition to providing a robust trading platform for its clients, Fxglory delivers supplementary support such as comprehensive technical analysis and an extensive knowledge base to allow novice traders to start trading in online forex market on the right footing. The minimum required deposit is $1 which is very low. However, note that it is a symbolic number which will not be able to afford to execute any trades. Maximum leverage that FxGlory clients can utilize is 3000:1.

Unregulated forex brokers often provide advantages such as undemanding registration and verification process, higher leverage, bonus and promotions. Nevertheless, those advantages come alongside low security level and investor protection in the case of insolvency of the broker and conflicts between the broker and the client.

Account Types

FxGlory provides 4 different types of trading accounts to cater for its diversified clientele base. These account types are Standard Account, Premium Account, VIP Account and CIP Account. The clients get the same fixed spreads and high leverage on Standard and Premium accounts. Micro lots are only offered on Standard accounts. On the other hand, VIP and CIP accounts come with lower leverage compared to Standard and Premium accounts but also with lower trading fees.

  • Standard: Standard Account offered by FxGlory requires a minimum deposit of $1. Maximum leverage for this account type is 3000:1. Spreads are fixed and start from 2.0 pips. The minimum lot size is 0.01 and maximum lot size is 1.00. Margin call level is 60% while stop out level is 30% for Standard accounts. Standard account holders can enjoy the 50% deposit bonus offer with a maximum of $500.
  • Premium: A minimum deposit of $1000 is expected in order to be able to open a Premium Account. Maximum leverage is 2000:1. Spreads are fixed just like the Standard account and start from 2.0 pips. The minimum lot size and maximum lot size are 0.1 and 10.0 respectively. Margin call level is 50% while stop out level is 30%. The deposit bonus is 50% with a maximum amount of $1000.
  • VIP: Minimum required deposit is $5000 and maximum leverage is 300:1. Spreads are much lower compared to Standard and Premium accounts. They could go as low as 0.7 pips without any additional commission. Minimum lot size is 0.10 while maximum lot size is 1000. VIP accounts offer a 40% deposit bonus with a maximum upper limit of $2000 and free VPS service. Margin call level is 30% and stop-out level is 10%.
  • CIP: If you want to open a CIP account, you need to deposit at least $50000. The leverage is 50:1; much lower compared to other account types. However, spreads could narrow down to 0.1 pips which is the lowest. There is no deposit bonus for CIP accounts however CIP account holders are eligible to utulize free VPS service. Minimum lot size is 1.00 and maximum lot size is 5.00. Margin call and stop out levels are the lowest amongst the four account types with 20% and 10% respectively.

Customer Support

Local customer support is available for 6 countries in their native languages. Clients can reach the support team via email, web contact form, live chat and phone. The support agents are qualified, polite and swift in responding to questions asked through the methods mentioned. Moreover, FxGlory web site features an education section for helping beginner traders to get familiar with forex trading and smooth the early stages of their trading career.

  • Email: [email protected]
  • Telephone: United States : +(1) 647 243 7184
  • United Kingdom : +(44) 744 190 6300
  • Malaysia : +(60) 392 126 712
  • Canada : +(1) 845 709 8570
  • Switzerland : +(41) 315 280 631
  • Cyprus : +(357) 2512 3232

Trading Platforms

FxGlory provides the MetaTrader 4 trading platform to its clients for free. Because of its reliability and execution speed, the MT4 has always been popular among traders and forex brokers. MetaTrader 4 platform offers access to advanced charting tools and technical indicators for traders which can improve the likelihood of a trade to profit. Another important feature of MT4 is Expert Advisors which enable traders to automate their trading strategies. Expert Advisors use parameters that are predetermined by the traders for opening and closing trades.

Deposit and Withdrawal Methods

FxGlory clients can deposit and withdraw funds through an abundance of methods. Those methods are Wire Transfer, Credit / Debit Card, Neteller, Skril, Payza, WebMoney, EPay, Bitcoin, Ethereum, Litecoin, Ripple, Perfect Money and SticPay.

Minimum deposit and minimum withdrawal amount via wire transfer is $500. It is $50 and $10 for credit / debit card respectively. For PayPal, minimum deposit is $50 and minimum withdrawal is $5. The minimum deposit is $1 and minimum withdrawal is $5 for all the remaining methods. There is no fee for depositing funds however withdrawing money will cost some kind of fee that varies between $5 and $100.

Trading Instruments

The variety of markets offered by FxGlory is limited relative to the other forex brokers that we have reviewed.The Broker offers trading services only in currency pairs, precious metals and oil. This means that you won’t be able to invest in instruments other than forex, metals and oil such as company shares, cryptocurrencies and stock indices. Currency pairs include major, minor and exotic pairs while gold, silver and platinum are the precious metals offered by FxGlory for trading.

Bonus and Promotions

  • Deposit Bonus: 50% deposit bonus on Standard and Premium Accounts while 40% deposit bonus on VIP Accounts. CIP Accounts are not eligible for this type of bonus. This bonus is withdrawable conditional on specified number of trades within specified time intervals.

  • Free VPS: Offering for VIP and CIP Accounts.

Conclusion

FxGlory is a non-regulated forex broker that was founded in 2011 and is headquartered in St. Vincent and the Grenadines. The Broker has local offices in 6 different countries and offers domestic assistance through those offices. Traders may have a difficult time in building trust with FxGlory since it is not regulated by any financial authority. Trading instruments are almost solely focused on currency pairs and spreads are not so appealing.


Broker Detail
Adress: Suite 305, Griffith Corporate Centre, Beachmont Kingstown, St. Vincent and Grenadines
Phone: +44 800 086 9296
Web: http://www.fxglory.com
E-Mail: [email protected]
Regulator: None
Year Founded: 2011
Instruments
Forex:
Precious Metals:
Energy:
Soft Commodities:
Indices:
CFDs:
Stocks:
ETFs:
Bonds:
Options:
Cryptocurrencies:
Account Options
ECN Account:
Swap-Free Account:
Nano Account:
MAM / PAMM Account:
Demo Account:
Funding Methods: Wire Transfer, Credit / Debit Card, Neteller, Skril, Payza, WebMoney, EPay, Bitcoin, Ethereum, Litecoin, Ripple, Perfect Money and SticPay
Withdrawal Methods: Wire Transfer, Credit / Debit Card, Neteller, Skril, Payza, WebMoney, EPay, Bitcoin, Ethereum, Litecoin, Ripple, Perfect Money and SticPay
Customer Services
Live Chat:
24 Hours Support:
Languages: English, Russian, Portuguese, Chinese, Arabic
Platforms
Supported Platforms: MetaTrader 4
Webtrader:
Mobile: IOS, Android
Trading
Leverage: 3000:1
Spreads: 2.0 pips for EURUSD on Standard Acount
Minimum Deposit: $1
Fixed Spreads:
Automated Trading:
Hedging:
API Trading:
Negative Balance Protection:
Accepts Clients from the US:
Bonus:

FxGlory Review

  • 3/10
    Reliability - 3/10
  • 8/10
    Deposit & Withdrawal - 8/10
  • 7/10
    Bonus - 7/10
  • 6/10
    Customer Support - 6/10
  • 4/10
    Overall Trading Conditions - 4/10
5.2/10

Summary

No regulation. Spreads are comparatively high. Limited number of markets. Free VPS service provided depending on account type. Maximum leverage is 3000:1.