Read our GlobalMarket review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a globalmarket.co review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So GlobalMarket is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about GlobalMarket in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
GlobalMarket Review Conclusions
Making the GlobalMarket review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our GlobalMarket review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Globalmarket.co, this company is definitely a scammer. The account Manager Mr Kevin Walker pretending very professional and patient. He talkedvery nice to convince you deposit money in Binance to purchase crypto currencies, and offered you promotional money for selected client in Globalmarket.co to ask u open an account there. He aways request to see your bank account for so-called financial status check for tge company and transferred all of your Binance Assets day by day to his account. Finally, he cheated you having made a big profit for you and asked you further deposit transaction fee to release whole sum of your invested and earned amount. The email and telephone number of their support team are fraud. Unreachable, nó one will get back to you including the account manager after cheating all of your money.
I received a call from Globalmarket.co another agency named Kelly at Early August saying that Kevin attained to Covid and quitted from the company. I did originally closed all my trade in globalmarket.co account and requested a withdrawal a month ago. Suddenly, there were 2 open trade and Kelly asked me to close it. The balance is very high. She asked me to show her my bank account in order to proceed withdrawal to me. I wonder why always need to see my bank account for so-called transferring money back to me. It is an another scam to see how much I have in my bank.
After the failure of Globalmarket.co Kelly reviewing my bank account, our Globalmarket.co account was blocked. After I key in the right password, no successful login. I requested a password reset, no response for few days. Actually, their support team email address [email protected] is a fraud address. My sent email was bounced back to me with a notice “no such email address”. This is a very questionable company. They cheated me lots of money.
James, Rick n Leo are missing in action after 1 month.
Had taken 210 EUR.
I am waiting for their responses.
I was subjected to a referral from the Global Market platform, which closed the withdrawal system, and I can no longer withdraw commissions. I want to get my money back, what should I do and who do I contact? Thank you