This review is a warning against the Global Mining FXTM broker that has nothing to do with the real and legit FXTM broker.
What is Global Mining FXTM
Global Mining FXTM is presented as a Forex and Cryptocurrency broker. It has a binary options platform, which means that binary options are used as the investment instrument for different underlying assets.
The company promises you “elite managers” that will take care of you and your trading account. These managers allegedly will help you to make money quickly.
But is Global Mining FXTM legit, can you trust it?
Global Mining FXTM scam
Unfortunately Global Mining FXTM is a huge scam. In this review we explain why.
By far the biggest problem of Global Mining FXTM is that it is an illegal clone of a legit broker. There is a genuine, legit and regulated broker called FXTM. However, Global Mining FXTM has nothing to do with this legit broker, it just abuses its name.
A company that is abusing the name of another company is a scam, that’s just the way it is. Global Mining FXTM has no right whatsoever to use this name and it is misusing this name to scam people.
What is more, Global Mining FXTM is just one of many scam clones that are out there to scam people. We found a lot of identical websites, see our picture below:
World Summit FX
Ultra Notch FX
FX Trading-Market Pro
Precise Option FX
Optimum Crypto FX
Smart Easy Trade
Ultimate FX Mining
FX Swift Exchange
FX Additional Trade
Digital Premium Trade
Trusted FX Handler
Excellent FX Trade
While the legit FXTM broker is regulated, Global Mining FXTM has nothing in common with the legit broker and is not regulated.
In fact, Global Mining FXTM is an anonymous scam that is not registered nor licensed in any country. It is a sketchy operation with the sole aim of scamming people out of their money.
The support phone number leads to the UK and you can verify with UK’s Financial Conduct Authority that Global Mining FXTM is an illegal broker that is not authorised to provide the services it provides.
The classic trick of online investment scams is fake testimonials. And Global Mining FXTM and its clones do not disappoint in this regard. They all use the same fake testimonials.
As you can see in our picture, users, their faces and stories are always the same, but the name of the company changes every time.
This is another very tangible proof that you are dealing with scams.
How Global Mining FXTM works
Scams like Global Mining FXTM, StockTraders Option, Ethtrive Crypto, FXWay Pro, World Summit FX, Ultra Notch FX, Olympics Optimum, FX Trading-Market Pro, FXTrade Stock, DynamicsFX Trade, Zahra Option, BtFxInvest, Bullish Binary, Precise Option FX, Optimum Crypto FX, Smart Easy Trade, 24high Option, BitLine Trades, Ultimate FX Mining, FX Swift Exchange, FX Additional Trade, Digital Premium Trade, Trusted FX Handler, Excellent FX Trade and ViaFX Trade work the following way.
First they will make you deposit money in their platform. Then they will quickly show big but fake profits. And they will use these fake profits to ask you for more deposits with the supposed aim of making you even more money.
But once you try to withdraw any money, you will see that something is wrong. They will ask you for all sort of fees that you have to pay in order to withdraw your profits. But every deposit will get lost with them and they will just keep asking you for more.
They might even tell you stories about rogue employees that will be sued to excuse their previous behaviour. But everything they tell is a lie. They just want to steal as much money as they can from you. Everything they tell you is tailored for that purpose.
And they will make you deposit in cryptocurrencies so that you can’t reverse any of your transactions. The only thing you can do if you get scammed by Global Mining FXTM and company is to go to the police and file an official complaint.
Global Mining FXTM review – Conclusion
Global Mining FXTM is a scam and it is not alone, there are all these clones of this fraud: StockTraders Option, Ethtrive Crypto, FXWay Pro, World Summit FX, Ultra Notch FX, Olympics Optimum, FX Trading-Market Pro, FXTrade Stock, DynamicsFX Trade, Zahra Option, BtFxInvest, Bullish Binary, Precise Option FX, Optimum Crypto FX, Smart Easy Trade, 24high Option, BitLine Trades, Ultimate FX Mining, FX Swift Exchange, FX Additional Trade, Digital Premium Trade, Trusted FX Handler, Excellent FX Trade and ViaFX Trade.
You have to stay away from them!
If you are interested in legit trading, try a free demo with a regulated company. You will get virtual money to try everything out.
If you want to trade with real money, make sure that you understand the risks and that you have a proper strategy.