City Global Trading is a forex and CFD broker that claims to be regulated by the Financial Services Commission (FSC) of Belize. However, there is no record of City Global Trading being registered with the FSC, which suggests that it is an unregulated broker.
Company Overview
City Global Trading is a relatively new broker, having been founded in 2022. It is headquartered in Belize but has offices in several other countries, including the United Kingdom and Australia. They also claim that they have regulation from the FCA in the UK.
Does City Global Trading Have Any License?
No, City Global Trading does not have any licenses from reputable financial regulators. The only license that it claims to have is from the FSC of Belize, but there is no record of City Global Trading being registered with the FSC.
Is City Global Trading Regulated By Any Authority?
No, City Global Trading is not regulated by any reputable financial authority. When we checked in the FCA database to see their claim’s authenticity, we found nothing but an warning.
Pros and Cons
Pros:
- Wide range of trading instruments
- Leverages up to 1:500
Cons:
- Not regulated by any reputable financial authority
- High minimum deposit
- Numerous negative reviews from traders
How Does City Global Trading Reach To Their Prey?
City Global Trading uses a variety of methods to reach potential clients, including:
- Online advertising
- Social media marketing
- Cold calling
Technical Details
They offer a web-based trading platform and a mobile trading app. The web-based platform is relatively user-friendly, but the mobile app has received mixed reviews from traders.
Minimum Deposit:
The minimum deposit for a live account with City Global Trading is $500. This is a relatively high minimum deposit, especially for new traders.
Trading Platform:
City Global Trading offers a web-based trading platform and a mobile trading app. The web-based platform is relatively user-friendly, but the mobile app has received mixed reviews from traders.
Spread:
City Global Trading offers competitive spreads on most major currency pairs. However, the spreads on some minor currency pairs and CFDs can be quite wide.
Leverages:
They offer leverages up to 1:500. This is a very high leverage level, and it is not suitable for all traders. High leverage can magnify both profits and losses, and it can lead to large losses if used incorrectly.
Packages and Products They Offer
City Global Trading offers a wide range of trading instruments, including:
- Forex
- CFDs on stocks, indices, commodities, and cryptocurrencies
Withdrawal and Deposit Method
City Global Trading offers a variety of withdrawal and deposit methods, including:
- Credit/debit cards
- Wire transfers
- E-wallets such as Skrill and Neteller
What Do Their Previous Traders Say?
City Global has received numerous negative reviews from traders. Traders have complained about high fees, difficulty withdrawing funds, and poor customer support.
Summing Up- Why Should Not You Trust City Global Trading
There are a number of reasons why you should not trust City Global Trading:
- It is not regulated by any reputable financial authority.
- It has a high minimum deposit.
- It has numerous negative reviews from traders.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by City Global Trading, there are a few things you can do:
- Contact your bank or credit card company and file a dispute.
- Report the scam to the relevant authorities, such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC).
- Contact a recovery service that specializes in helping victims of forex scams.
The last but fastest thing you can do is to contact us. We will evaluate your case and will get back to you with a free consultation and recovery service recommendations to help you recover the lost funds.
File A Complaint Against Scam Broker's
Final Thoughts
City Global Trading is an unregulated forex and CFD broker with a high minimum deposit and numerous negative reviews from traders. If you are considering trading with City Global Trading, we strongly recommend that you reconsider. There are many reputable forex brokers available, and there is no need to risk your money with an unregulated broker.
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