The forex industry is filled with forex scammers. Welcome to the Global First FX review, where we’ll take a closer look at this brokerage company. If you’ve come across this broker and want to know whether it can be trusted and whether it’s worth your time and money, you’re in the right place. Don’t rush to open an account without thoroughly examining the firm and understanding what it truly represents. Who knows, behind the mask of a promising and global broker might be a typical scam trap.
Key Features
- Company Name: Global First FX
- Website: https://globalfirstfx.com/
- Available Contacts: [email protected], +1 212-605-1717
- Foundation: 2024
- Services: Trading
- License: No
- Initial Deposit: $500
From Sign-Up to Payout
The first thing every trader assesses is the company’s official website. When you visit the Global First FX site, you might think, “Oh, just another shady brokerage firm that couldn’t even create a decent and attractive resource with useful information”. Indeed, the design looks as if we’ve stepped back into 2019-2020. Back then, this kind of template was popular: skyscraper images and gold letters on a dark background. At least they provided some info regarding conditions.
Not only is the site lacking in useful information, but it’s also incomplete. For instance, a potential client might want to review the user agreement document, open it, and see the following text: “Lorem ipsum dolor sit amet.” What is this Latin placeholder for? Where are the real documents? They don’t exist.
The concerns don’t end there. To register an account, you need to enter your name, date of birth, and contact details, as well as choose your country. However, the only option available is India. Why only India? Is the company specifically targeting this region?
Alright, let’s ignore the India issue for now. After submitting the registration request, you’re supposed to receive a confirmation email. Yes, it arrived, but it landed in the “spam” folder. The user is required to click a link, which in itself seems suspicious. It’s expected that after clicking the link, the registration will be confirmed, and you’ll be able to access your personal account, but no. When you try to log in, you’re informed that the account is not activated — please wait. What a joke.
In the end, the account couldn’t be created. There were some issues. This is definitely a red flag. Combined with the terrible official website, you can already start drawing negative conclusions, but let’s hold off on that for now.
The problems don’t stop there. If you do manage to create an account, you should know that deposits and withdrawals are only possible through credit/debit card or bank wire transfer. However, you must complete KYC and verify the source of the funds that will be used for trading. You should be cautious about sending sensitive information to an obscure broker.
Our Trading Experience With Global First FX
How can you check and explore the trading platform if you can’t even register? Apparently, you can’t. How can you find out what features the terminal offers if there’s no description on the official website? Again, you can’t. The broker barely mentions MetaTrader 4 or 5, but in reality, there’s no MT to be found here.
It’s not the best idea to choose a broker without knowing which platform you’ll be trading on. Any serious company would provide information about the terminal, along with guides and instructions on how to use the software. Here, there’s not even a description.
The Reality Check
The broker already looks terrible, and we could end this Global First FX review here, but let’s take a closer look at its legitimacy. The scammers have fabricated offices in the USA and Canada. It’s worth reminding them that such activities are prohibited in the USA. Companies offering CFD trading with 1:500 leverage and promises of up to 60% monthly returns couldn’t legally operate in New York, so the listed address is just a fake. There’s no need to check registries or search for anything — this is obvious and clear.
Why do brokerage firms avoid working with U.S. citizens? Because the strictest regulators operate in that jurisdiction. Since CFDs are banned there, regulators can create significant problems for a broker if they accept money from an American trader.
Moreover, every broker must obtain licenses. However, globalfirstfx.com hasn’t done this. There are no mentions, names, license numbers, or even links. It’s simply an illegal operation. There isn’t even a registered legal entity — just a broker’s website.
How Long Has Global First FX Been in the Game?
On the website, the firm claims to have won some awards in 2020, and the “FAQ” section even mentions 2007 as the launch date. So, when did these scammers actually start their operation? In reality, it was quite recently. Don’t be fooled by these fake awards and bogus claims about 2007. It’s all nonsense and lies. Take note that the website globalfirstfx.com was only created in May 2024. That’s the real launch date of this scam.
Extra Fraud Indicators
Global First FX can’t even decide on the minimum deposit amount. In the account types description, it’s listed as $500, but elsewhere it says $250. It’s as if the information for the site was pulled from different sources and wasn’t even checked. Naturally, all the claims about reliability, the best conditions, transparency, and other such nonsense are fake and nothing but fairy tales.
Don’t believe the nonsense about having 12 liquidity providers. Global First FX doesn’t work with any liquidity providers because it’s just a standard dealing desk. All orders happen within the platform and are not sent anywhere. This means the only source of income for the firm is the losses and drained deposits of users.
A company operating as a dealing desk (100% B-Book business model) is the worst option for a trader. Such firms have no interest in your success, so they’re not worth choosing. Look for a broker that operates under ECN/STP/NDD/DMA models and can prove it.
Is Global First FX the Right Fit?
There’s plenty of evidence of illegal activity, from an incomplete website to a fake U.S. address, from a short operating history to a conflict of interest. These platforms should be avoided. If you deposit money into Global First FX, you’re guaranteed to lose it. You likely don’t want that outcome.
Global First FX block accounts and prevent withdrawals. SCAMMERS! Spread the word! These despicable cowards steal money from people and prey on beginners. No license, no proper operating history, no real offices, no legal documents, no information about the CEO — just lies and fakes!
It’s a great option if you want to lose your money. I know someone who trusted the scammers at Global 1st FX. Do you know how much money he lost here? Over $15,000. I don’t think he enjoyed that. The same fate awaits you if you decide to trade with this fake and fraudulent company. Every detail and fact points to it being a scam. The scammers couldn’t even properly finish the website — they slapped it together quickly, probably spending less than $50, and launched it hoping that some fools would deposit money. And unfortunately, such people exist. Don’t fall for it — don’t give your money to anonymous criminals.