Known for offering the highest leverage in the forex market, FX Glory is a distinct global forex brokerage firm offering currencies, stocks, commodities, and indices. It also stands out in the industry by featuring cutting-edge trading tools and transparency in service.
Read more from this broker review to discover numerous opportunities FX Glory takes pride in offering to its traders – novice and veterans alike.
FX Glory Company Background and Safety
Established in 2011 in the United Arab Emirates (UAE), FX Glory is regarded as one of the more popular brokers in the online brokerage industry in the last decade. The team is composed of professionals in the financial markets and experts in currency trading who have been providing and developing advantageous financial solutions especially in the currency markets.
It expanded its services in several countries in Europe just a year after its inception. After that, FX Glory grew even more and opened several offices in some other countries. Its most recent addition is its headquarters in Saint Vincent and the Grenadines.
FX Glory has been striving to continuously evolve into a well-rounded broker and remain relevant in online trading by introducing several distinctive features, trading conditions, and special offerings to its clients. These include unique website design, sky-high leverage, multilingual 24-hour customer support, competitive pricing and transparency in market prices, and up-to-date trading facilities. FX Glory also claims to do well in satisfying its customers by continuously improving its offerings including analysis instruments and special promotions.
In an effort to determine its regulatory standing, we tried searching for its details on its official website and unfortunately found no information about it. Hence, it is most likely that the company is an unregulated broker and may not be providing an Investor Compensation Fund. In this case, the risk of investing in this broker is high.
FX Glory Features and Fees
Trading Instruments
FX Glory offers the following markets or trading instruments to its traders:
- Forex (34 currency pairs)
- Precious Metals (Gold, Silver, platinum, palladium
- Oil Trading
Account Types
FX Glory offers its clients the following account types:
Standard – requires only $1 minimum initial deposit, has 0.01 minimum lot size, leverage of up to 1:3000, 50% deposit bonus, $500 maximum bonus, spreads starting from 2 pips, and has 50% hedge margin.
Premium – to open this account, a $1,000 initial deposit must be completed. It has a minimum lot size of 0.10 and 10.00 as its maximum lot size. When it comes to leverage, it is set at a high 1:2000. It is complemented with a 50% deposit bonus with $1,000 as the maximum bonus. Spreads also start from 2 pips while the hedge margin is at 50%.
VIP – $5,000 is asking deposit amount if you choose to open this account. This account type showcases 0.10 minimum trade lot size and a maximum of 1,000. The leverage is at 1:300 with a deposit bonus of 40%, but the maximum bonus is set at $2,000. Spreads start from 0.7 pip while the hedge margin is at 25%. A premium VPS feature is accessible in this account.
CIP – A hefty $50,000 is required as its minimum deposit. The minimum and maximum lot sizes are between 1 and 5. The leverage is quite low at 1:50. Unfortunately, there is no deposit bonus given to account openers of this type. Spreads start from 0.1 pip while the hedge margin is at 100%. There is also a premium VPS feature in this account type.
All the account types have zero commission fees, have the same order execution types, and are swap-free.
Funding Methods
FX Glory offers various funding methods to its clients. The main options include bank cards and wire transfer.
The following are the deposit options for FX Glory clients to choose from: SticPay, American Express, Perfect Money, Cryptocurrencies (ripple, litecoin, ethereum, bitcoin), EPay, WebMoney, MasterCard, Visa Card, Bank Wire Transfer, Skrill, Paypal, and Neteller.
The good news is that there is no deposit fee for any mode of payment chosen by the client.
FX Glory Trading Platforms and Tools
FX Glory offers the industry-popular MetaTrader 4 in different suite forms.
MT4 General Key Features: customizable trading environment, secure trading by employing 128-bit encryption, supports all order types, Expert Advisor functionality, an array of technical analysis tools
FX Glory MT4 WebTrader – needs no downloading, one-click trading, standard browser access, unified login access codes, and features multiple languages.
Mobile Trading: Full set of trade orders; supports all execution mode types; toolbox window to access trading history, emails, news and journals; 4 charts in one window; zooming functionality; 30 most popular indicator tools; 9 timeframes; has offline mode; available on Android and iOS devices.
Bottom Line
In its pursuit to become a holistic and more reputable broker, FX Glory needs to secure a regulatory certification from a major financial institution to gain more trust from traders from around the globe.
It also needs to consider offering another viable trading platform option for a more competitive trading environment