TradeGlobalMarket Review 2024

TradeGlobalMarket claims to operate under the license of the National Bank of Georgia, but that's a lie. I believe this tactic is aimed at beginners who don't know how to verify brokers in different registries and those who are generally unfamiliar with trading. As soon as I contacted their client support, it became clear they were simply trying to lure money from unsuspecting individuals. When I requested account specifications, they failed to provide them and instead asked for my phone number. I decided to see what their pitch would be over the phone, and as expected, the manager promised unrealistic profits, quick withdrawals, and extremely low fees. Do not trust Trade
GlobalMarket!

TradeGlobalMarket is a classic bucket shop. While they processed withdrawals when new clients were coming in, they simultaneously hindered normal trading. I'm talking about canceled trades, manipulation of trading charts, constant slippages, and inflated spreads. As interest in TradeGlobalMarket dwindled, they stopped processing withdrawals altogether. My $300 withdrawal request was repeatedly blocked. And when I started constantly writing to client support, they just locked me out of my account and didn't respond to messages. The folks at TradeGlobalMarket are stealing. I hope they get shut down someday.

I don't know how Tradeglobalmarket performed its duties later, but in 2016, I even made a few hundred dollars with them. However, I couldn't withdraw it. Initially, my account manager urged me to invest the earned funds in a signal service. I did invest some money, but the signals didn't bring profits. I applied for a withdrawal again, but they weren't in a hurry to process it. The manager called again and promised that the market would soon move, and profitable trades could be made. I didn't cancel the withdrawal request because it seemed like manipulation. But they didn't confirm it. It hung open for a month, then I deleted it and created a new one, but the money was never withdrawn.

The trading conditions described on the TradeGlobalMarket website seemed attractive. I opened a demo account to test the platform and explore the full range of trading instruments. Spreads were low, execution speed was good, and the variety of currency pairs was impressive. However, upon switching to a live account and depositing $200, I quickly realized the conditions were drastically different from the demo. I cannot tolerate deception, so I applied for a withdrawal of the remaining $130. My request was denied without explanation, and subsequent attempts to withdraw were also rejected. I never received my money.

If I were to characterize Trade Global Market in one word, it would be "fraudsters." They don't have a license from the National Bank of Georgia, and there is a lot of false information on their website. For example, they claim to trade on ECN accounts. In reality, the trades don't leave the TradeGlobalMarket system, as they close at the price they want. If you're lucky enough to place a profitable order, the commission they deduct is outrageous. Basic accounts are listed with a $9 commission, but I have been charged $20 or even $30. You can't make money with this so-called broker. At best, this broker will take your profit as a trading commission; at worst, it will wipe out your entire deposit. After trading on its MT4 trading platform, I had no funds left to withdraw.

TradeGlobalMarket is a scam. They don't process withdrawals. I didn't like their conditions and execution quality straight away, so I preferred to retrieve my invested funds and move to another broker. But TradeGlobalMarket took all my money. They didn't provide a reason for canceling my withdrawal request, so I had to submit another one. However, neither my second nor even my tenth request was approved. I didn't violate trading rules, the margin was at the proper level, and the minimum withdrawal amount on the TradeGlobalMarket website wasn't specified. Besides, a proper broker would have explained the reason for the cancellation. So the conclusion is that I stumbled into a bucket shop, and therefore I won't see my money again.

It's a good thing that there are plenty of resources online with lists of scams and bucket shops. Thanks to them, I didn't fall for TradeGlobalMarket's bait. Initially, their website seemed quite enticing, and the company appeared trustworthy. However, the deception regarding their license alone was enough to convince me that these scammers were only after my money, and that trading Forex through them would be impossible. Their client support is completely incompetent as they couldn't answer my basic questions. But they did manage to extract my phone number. A call from a TradeGlobalMarket manager confirmed that my assumptions about the dishonesty of this "company" were true.