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Today I’m looking at a Forex broker that want to provide traders with a comfortable and confident environment, Forex Grand. This broker isn’t overly popular, but recently I’ve received some emails about it, so I figured it’s worth a closer look.
The broker is run by Nordic Pearl LTD, and is located at Geo Milev District 43, Shipchenski Prohod Blvd., Entrance A, Floor 1, Office 5, Sofia, Bulgaria. Traders can get in touch with the support team via phone +41 22 533 01 86, or email support@forexgrand.com.
Contents
Review of Forex Grand
Founded in 2012, the Forex Grand brokerage wants to be “your reliable assistant in the world of trading.” The about us section is quite odd and unprofessional. It’s told in the form of a story about the creator of the broker “Mr. Grand” and goes all the way back to the 17th century. He tells us about his ancestors and their impact on the financial markets which led to his decision to become a financial professional. He explains that he worked with a variety of different banks and auditing companies until finally diving into the Forex market for about 3 years to understand how both sides of the market works.
Recently they’ve lowered the minimum deposit which ensures that the brokerage services are “available for millions of traders around the globe.”
Breakdown
- Type: Forex Broker
- Founded: 2012
- Location: Bulgaria
- Minimum Deposit: $250
The Three Different Account Types
Forex Grand currently provides traders with 3 different options. The basic account, the gold account and the platinum account.
The basic account requires a minimum deposit of $250 and offer spreads from 2.5 pips. Traders get access to an account manager and just about everything else is the same. With the gold membership traders are required to deposit $1000, which provides a 1.5 pip spread. The only difference for the platinum account, is that traders are required to deposit $50,000 which provides access to a 0.5 pip spread and a senior account manager.
None of these accounts are that different outside of the deposit, spread and level of support. They all run on the meta-trader 4 platform with leverage up to 1:300, a stop out level of 5% and STP Market execution with no requotes.
Learning Through The Education Center
On the front page of the website, the first sentence we see states that we have access to “free education with the founder of Forex Grand.” So, obviously this is a very important aspect of their services.
Yet, the education center is very underwhelming. The first link in the education center is to their live webinars, but instead of seeing webinars all we see is a “coming soon” statement. I find it very odd that the people behind this brokerage would put so much weight into the education they provide, and then give us so little.
The only aspect of the education center that seems to be working or beneficial is the educational newsletter, but this could just be a grab for your email address. I haven’t tested to see if the information in this newsletter is credible at this point, and I’ll have to update this review with that information later.
Conclusion
There are both positives and negatives when it comes to the Forex Grand brokerage. The website is professional outside of the about me section, and their promises of speed, low spreads and analytics are impressive. However, their education center is lacking and I’m finding it difficult to find something remarkable that sets this broker apart from the rest.
I hope that you will leave a comment at the bottom of this review and let me know what you think about this brokerage. If you are looking for trading systems to utilize and help you trade with meta-trader 4 brokers, I recommend you go to the best Forex robot page and see what is working for the Forex community today.
The company is unregulated and I wish I had knew before investing a lot into this company. I was lured into deposting over 350,000EUR and over 4/6 months my account manager built my account to over 520,000EUR which I thought was impressive. I was then asked to invest more as there was a rare opportunity they were only offering 3 people which required investing over 800,000EUR which I did not have. After telling them I could not afford it, weird things began to happen to my account. I lost over 200,000EUR within 3 days. I met a lot of my trades opened and losses were running on the high. All my efforts to reach my account manager or any rep of forexgrand was unsuccessful. I hired a specialist service who has helped push for my deserved deposits.
Please fellas, do not give your money to this SCAM called forexgrand. They will seize all communication if you try to contact after running you to loss and will not let you withdraw any amount from your money. I have been a victim of their scam and up till this moment I have not been able to contact anyone.
I wouldn’t recommend to work with forexgrand.
The company is suspiciously enigmatic: the site is very young, not much adequate reviews and comments on the internet, the main office address is in Bulgaria, but the owner lives in Spain, Bilbo, Olagorta Kalea, 25, 48014. I believe they located so far from Bulgaria to avoid meeting angry clients 🙂
I was curious about FXG Trade’s real owners. I work with this company, and want to know who holds my money. Was not so easy to find out. But the owner’s name is Sudomo Purnama Jayadi, and there’s the residence address in Zagreb, Croatia: Slavonska avenija 3.
Hi am a little in a fix what to do :I read many bad comments concerning ForexGrand before that I deposited some amount 3 times with them then my friend who belongs to same charity as me scolded me heavily for trusting me made me inform credit card company to take back my investment still that account manager from Forex grand is contacting me via skype asking me how I am what to tell ?Simply I told fine….regards Ulrike
I deposited money into the account and when I wanted to withdraw they did replied by stating that I was in the negative, I did not even trade with them. After I completed all the documents to withdraw, there is a completed silence from them.
I invested 3k, first weeks I and my broker rise money to amazing 10k… but all the time they push me deposit more money, I told them I wish to make small windrawl, but they dont verify my account for a month. In that period we rise my balance to 30k and once they understand that I not gonna deposit more money they change my laverage to 1:100 and my broker advise me to open a trade with huge risk, after few hours I was in 30k loss and desperate me straight away deposit 6k coz my account blow up in a second. Broker name: Edi Cooper. He make amazing job coz he advise me for a lot profitable trades, but just he understand I not gonna put more money he burn my money in a second. Company are not regulated, registered in marshalls island in the midle of pacific ocean….
I was lured to this company by one trader. Didn’t even trade with them, but even though have big issues withdrawing funds. 4 different people are calling me. No one is aware what was happening to my account. There seem to be no system in place to communicate with clients. They give empty promises, when you push them, don’t want to commit to anything. When I tried to withdraw cash, 1st had to fill lots of papers, then system allowed me to withdraw only max 3000$ at a time. And there is no option to put two withdrawal request. So all week I am spending just fighting with them to get my money back. My opinion, these people from some small Bulgarian village, good at making lies, not money.
robert rich is vice president scammed me for 17500 was at mrt capital convinced me to invest 500 $ with bella wont even answer email
I don’t understand what you are trying to say here Michael.
The best platform ever , i was scammed before from some binary companies , so i was sceptic when i started to trade with them . Now I have around 50.000$ in the account and I’m making really good profits in monthly and weekly basis ( never had any problem with funds withdrawals) . I really like the way they work . Forex Grand Have the best Traders ever
Hi Ferguson! Would you please tell me what your trader is called? Would be very grateful for that. Do you also have his Skype address?
Can tell that I deposited £ 50,500 A broker has unfortunately bet wrong and I risk losing everything! They never answer skype or email! please help me with information.
Atif
I have used this platform recently with my other friends .this appears to be a total scam broker which is unregulated and once you deposited money they start pressing you for more money and when you request withdrawal they show you in negative equity . their MT4 platform is fake and they show fake trade so you end up getting nothing . Total scam please stay away
Thanks for sharing. Do you have any proof in terms of screen shots we can look at?
I sent all my screen shots to the support but they just sent it to the manager
I have been testing this trading platform for about 4 months.
Webinars would be really of great value, but I was satisfied with my manager’s assistance. He helped me raise some modest profits in trading. During this time, I have earned $1900 and had no problems ever with funds withdrawals at ForexGrand.