Cube Global FX

Read the review of Cube Global FX too see if this is one broker worthy of your time.

The website claims that the broker is located in the UK, and that it works under the local laws, as far as claiming that Cube Global FX is an International Business Company. It makes no difference if it is or not. What matters is that there is no mention of a regulation, meaning that Cube Global FX is UNLICENSED.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

We were not able to register because the we are still waiting for the confirmation mail. With that said the spread is 2,2 pips for the Micro Account, according to the website, while the maximum leverage is 1:500.

Trading instruments are Commodities and Forex Pairs. The options are very limited, and wont do in an industry that continues to set higher standards.

The website is only in English.

CUBE GLOBAL FX LOGIN

The MT4 makes a return, but since the registration process was a failure, we were not able to get any login details.

Nevertheless, the MT4 the is known to have drag and drop charts, user friendly accessibility and multiple order types, as well as a huge array of other options. With MetaTrader 4 you can set automatic trading bot to do your deals for you while you preoccupy your time with different activities.

As mentioned above, the spread for the standard account is said to be 2,2 pips, while the leverage is capped at 1:500.

The platform seems to be excursively available as a desktop trader.

CUBE GLOBAL FX MINIMUM DEPOSIT

The minimum deposit for the standard account is $100.

The failed registration means that the real depositing methods are out of our reach, and so we must trust the website with these details. The Trading Agreement document reveals that credit/debit cards, as well s bank transfers and some alternative payments are available.

Due to the broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These softwares allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

CUBE GLOBAL FX WITHDRAWAL TIME AND FEES

The Terms and Conditions clam that clients will receive their funds after a 7 day waiting period prior to their withdrawal request.

The minimum withdrawal and any withdrawal fee have not been indicated.

ADDITIONAL FEES AND TAXES

But, the legal document gives us a clause stating that the broker may at any time charge its users commissions for its services:

There is a clause that keeps the broker safe from any accusations a user might have against it concerning losses, damages or/and debt.

Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

Cube Global FX will take your deposit, not give it back. This much we assure you; do not trust this one!