FXGlory Review: Vanishing Profits, Capital Scams & Withdrawal Charges Keep Annoying Traders

Does FXGlory remove all your forex trading account balances upon fund withdrawal requests? Or do you witness incorrect trading account balances after fund withdrawals? Does the Saint Lucia-based forex broker charge you for fund withdrawals? All these and many more scam-related complaints have been filed against the forex broker. In this FXGlory review article, we will discuss several complaints. Read on!

The List of Complaints Against FXGlory

Traders Accuse FXGlory of Siphoning Out Account Balance

FXGlorys reputation is increasingly tarnished with more traders accusing the broker of removing the account balance when requesting withdrawals. This appears to be a severe issue affecting traders. In one complaint, a trader applied for a withdrawal, which was denied by FXGlory citing insufficient funds. The trader, upon FXGlory login, found that the entire account was removed. The incident left him stunned. Here is the screenshot explaining the issue.

Account Balance Erosion After Withdrawal

In this complaint section, we have discussed a scenario where the trader made $5400 from one trade and withdrew $5,000. After withdrawal, the trader had an account balance of just $500, with the gains made from earlier trades missing. This prompted the trader to share this FXGlory review online.

Profit Cancelled, Only Initial Deposit Allowed for Withdrawal

Traders also report increasing cases of profit cancellation by FXGlory, making their overall forex trading experience dismal, to say the least. In one case, a trader reportedly made profits worth $2,334.80 and requested a withdrawal of $2,334. However, the broker rejected the profit claim by accusing the trader of breaking the law. The trader could not only receive the initial deposit. Here is a recount of that financially tragic incident.

FXGlory Levies Charges on Withdrawals

Withdrawals cost at FXGlory if the complaint under this section is true. A trader has accused the broker of having levied a 9% charge on fund withdrawals. This prompted the trader to share this negative FXGlory review.

Traders Express Concerns Over a Lack of Regulatory Supervision

Traders claim that FXGlory is an unregulated entity making its own rules and suppressing traders interests. This also explains the scam-related complaints discussed above. Here is the screenshot where FXGlory is flagged for a lack of a regulatory license.

FXGlory Review by WikiFX - Score & Regulation

Considering the growing number of trading complaints, the WikiFX team did a 360-degree scan of FXGlory and indeed found it to be having no license, proving the trader‘s claim of no regulatory supervision. This only allows the broker to mix investors’ funds with its own funds, preventing the latter from accessing capital when demanded or needed. As a result, the team gave FXGlory a score of just 2.33 out of 10.

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