Glluck-Overview of Minimum Deposit, Spreads & Leverage

GENERAL INFORMATION AND REGULATION

Glluck says it‘s regulated by the United Kingdom Securities and Investment Commission, but actually, there is no such authority, so the broker is fraudulently pretending to be legitimate. Also, Glluck purports to be NFA regulated in the USA, but that’s another blatant lie, too. Well, we need no more to conclude that Glluck is a dirty scam, so your funds will be in danger if you deposit.

Trading with unregulated FX creatures like this one is dangerous. The absence of regulation means that the scammers can do whatever they want, and they will get away with their crimes as no authority holds them responsible for their actions. For example, they can transfer your money offshore, where its almost impossible to track it down.

In contrast, the regulated brokers have to follow many customer protection rules. For example, EU licensed companies have to store traders‘ funds in segregated bank accounts- thus, your money won’t be used for other purposes than trading or misappropriated. Well, if you deposit with Glluck, you‘ll have no idea where your funds are and what’s going on.

ACCOUNT AND LEVERAGE

The leverage can get to 1:500, but we are not sure about the actual ratios available. We found too many conflicting pieces of information, which is actually nothing to be surprised of. Anyway, leverage itself is dangerous, so well mention some restrictions, which can also help you detect fraudulent offers much more easily. Namely, due to leverage regulations, licensed EU, British and Australian brokers have to limit retail clients to 1:30, while Canadian brokers and US brokers to 1:50, respectively. As you can guess, Glluck exposes itself as illegitimate while offering 1:500 for its customers.

SPREADS AND COMMISSIONS

The EUR/USD spread is 0.2 pips– a highly competitive Buy/Sell difference significantly improving profit potential. However, the favourable spreads make no difference as the broker is a scam thats occasionally dictating the prices. Avoid!

TRADING PLATFORM AVAILABLE

Glluck provides MetaTrader4, which is by far one of the market leaders, but we found massive fraud taking place. As you can see from the screenshot below, there are two suspicious shadows that actually never happened. Therefore, Glluck is manipulating prices so as to blow clients accounts and steal their money. Thats a revolting scam! Avoid!

DEPOSIT AND WITHDRAWAL

The minimum deposit is said to be $100 000– an insane requirement nonetheless, but we believe that the con artists will accept much less. The funding methods are allegedly Credit/Debit cards, Wire Transfers and Bitcoin, but due to KYC, we didn‘t test their deposit system, so we can’t prove their claims. It was totally out of the question to provide copies of personal documents and bank cards for these scammers.

CUSTOMER SERVICE

Unfortunately when checking the website to confirm the active means of contacting their customer support team, we found the domain name to be on advert, looking for buyer , which means they no longer own the Domain...that's dangerous.