Convoluted, or missing corporate information is one of the expected tropes of any fraudulent company. After all, they want to make it as difficult as possible for you to ascertain whether you’re dealing with a reliable entity or not.
One such firm is the one we’re discussing today in our Globalinwest review. This unscrupulous entity exists solely to steal your money, and will stoop incredibly low to achieve that goal.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | No, this is an illicit firm and should not be trusted |
| Known Websites: | globalinwest.com |
| Have Warnings from: | N/A |
| Registered in: | Ireland (alleged) |
| Operating since: | 13.09.2023. |
| Trading Platforms: | MT5 (alleged) |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | Up to 100% |
| Trading Assets: | Forex, Stocks, Bonds, Mutual Funds, Commodities, Futures |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Being an illicit business, the website owners will not be likely to allow you withdrawals, so better contact our legal advisors. |
Illegal Unregulated Company
Allegedly, the corporate entity that operates the Globalinwest broker, Bussiness Investersado Inc, is based in Ireland. Some legal info is given in the website footer, but neither the name nor the registration number corresponds to any regulated business with the Central Bank of Ireland.
The thing that will immediately draw your attention is that the main language on the website is Polish, and not Irish Gaelic or English. This being the case, we’ve inquired with the Polish KNF about any license, and found nothing.
While we were at it, we decided to keep searching for any info on the company with other European regulators, namely BaFIN, CySEC, CONSOB, FINMA, and FCA to no avail. At this point it became clear that the firm is a completely illegal venture, in many ways similar to OTFX which we reviewed some time earlier.
Dealing with unlicensed entities means you forfeit your right for legally imposed fund safeties such as compensation funds and negative equity insurance.
Deception Put To Use
The site was put online in September 2023, which is quite younger than the 2015 date of inception the company claims. Target areas for these swindlers are the following nations:
- Poland
- United Kingdom
- Romania
- France
As the Globalinwest Forex service is virtually unknown on the ‘net, they use the old-fashioned boiler room agent approach to attracting new customers. Most commonly, these agents pester people by phone in an attempt to find new victims.
People that do invest are in for a cold shower, as they will seldom see any of their money back. This doesn’t mean the money is lost completely, so book a free consultation with our legal experts for help with recovery.
Terms Above Regulatory Limits
Any strictly regulated EEA would not be able to go against the law and offer higher leverage than 1:30.
This company once again proves they are an anonymous, potentially offshore scheme supervised by no Tier 1 regulator. We have reasons to believe so because of the maximum leverage being 1:400.
What makes matters worse is the fact that no precise costs are given, so trading commissions and transaction fees remain hidden. Just like BigFXinvest does, these swindlers are never honest about real costs.
Bonus With Strings Attached
Investing with this platform brings another potentially harmful feature that could later reflect on your ability to withdraw funds. These are bonuses that go up to 100% of the deposited sum.
The condition that you have to fulfill to be eligible to withdraw anything from a credited account is called trading volume requirement. It is calculated in the following way: deposit / 4 = number of lots needed.
Concealed Trading Environment
All of the information pertaining to the trading environment with this platform is partial at best, with much of it being completely omitted from the site. Nothing is ever shown in a way that is transparent or easy to understand. This is surely a stark contrast to what you’ll see with a reputable brokerage.
Live Trading Accounts
Accounts seem to be tiered, as some offer more benefits, like higher bonuses. Here’s a basic overview:
- Basic
- Platinum – 30% bonus
- Premium – 100% bonus
On one of the pages, the broker mentions a minimum deposit of $250, but they don’t say for which account. None of this really matters in the end, since the account creation page on the site doesn’t work.
Where’s The MT5?
One of the claims made on the site is that the clients can use the industry standard MT5 as the main trading platform. We did find Google Play and App Store links for mobile versions of this program, but it begs the question – what are the desktop users supposed to do?
While the MT5 is one of the best trading programs out there, it’s basically worth nothing if you can’t use it.
Products Available
We had no effective way to verify the list of available trading instruments, since the platform was out of reach. These are only the asset groups that the homepage mentions:
- Stocks (Disney, Netflix, BMW)
- Bonds (Treasury Bonds)
- Mutual Funds (State funds, municipality funds)
- Forex (EUR/USD, GBP/EUR, USD/CAD)
- Commodities (Silver, Gold, Coffee)
- Futures (Commodities futures, Stock futures)
Scarce Educational Materials
Although the company prouds on having exceptional learning courses, they’re just another form of sham. When you click on one of the three available courses to join, you’ll quickly learn that they’re just one short video about the basics of Forex. That, sadly, cannot be called proper education.
Unknown Payment Channels
When dealing with any business, be it a fintech service, or a used car salesman, one of your main concerns is what kinds of payments they accept. These con artists never divulge anything about their payment options, and this holds true for both deposit and withdrawal methods.
The Terms & Conditions document has a grand total of 4 pages, and doesn’t even bother to mention the word “withdrawal” even once! The bonus policy includes some shady clauses as well, which effectively empower the company to deny any withdrawal requests.
Without Customer Service
The website owners encourage all their clients to reach out to the support service whenever they feel the need to. For that reason, they’ve allegedly made an email, phone and online form available. However, any attempt to get to the customer service ends in failure, considering that no one is available to reply to your appeal.
Don’t Give Up On What’s Yours!
No matter how impossible it may seem at first, there’s always a chance for you to succeed in taking your original investment back. That is, as long as you don’t give up and let the scammers have their way with you.
That’s why you should contact our online chat agent and book your free consultation today! Our legal experts can help you understand the conditions and necessary steps to take in order to increase your chances for a successful recovery.
FAQ Section
What is Globalinwest?
It is a fraudulent firm operating from an unknown location and presenting itself as a regulated brokerage brand.
Is Globalinwest a Legit Broker?
No, although they claim to be regulated, no proof of that exists. After looking through the databases where they claim to be registered, there was no evidence that supports such statements.
Can I Recover from Financial Fraud?
Of course, as long as you’re willing to work on it. With our help, you can successfully recover cash lost to fraudsters.
