Inst-Global Review: Unveiling the Truth Behind the Fake Regulation
Inst-Global is not the broker you want to encounter while looking for one. Among many other red flags, their fake regulation seems the most worrying, especially since they claim to be regulated by the NFA. Their lies don’t end there, unfortunately. Keep reading our Inst-Global review to learn more about this sham brokerage.
Additionally, another expert scammer you could encounter is Itcoinex. Like Inst-Global, this brokerage claims to be registered in the US and regulated by the NFA. However, neither of the brokers are found in the NFA’s register.
Who Is Inst-Global?
The public cannot access information on the current Inst-Global platform. They assert that the NFA regulates them, and they formerly did. Nevertheless, the NFA canceled their license. You might wonder why. Well, in the end, the truth always comes out. The broker received numerous complaints about high leverage and withdrawal problems.
Leverage is limited at 1:50 in the US, but this brokerage offered 1:1000 with no shame. Their NFA license was revoked because authorities had to aid investors. However, a few customers continued to fall victim to the hoax because they failed to research Inst-Global and the details of its license.
|Inst-Global||Reliable Broker Must Have|
|Legal name||Inst Global Limited||Transparently displayed in the disclaimer or legal documents|
|Regulation||Unregulated||Within your legal jurisdiction – local regulator|
|Registered in||United States||Your country or the country whose license applies in your legal jurisdiction|
|Established||N/A||The older the domain – the higher the possibility the company is trustworthy|
|Website||www.inst-global.com||Domain should be from local or international zones, no .xyz, etc.|
|Financial Authorities Warnings||
||Phone, email, social media, web form|
|If a withdrawal is possible||No||Yes|
||Transparent fees – list of spread and commissions|
|If Active on Social Media||No||Often present on social media|
|Investor Protection||None||Compensation fund|
The broker continued to assert that the NFA regulated them even after their license was revoked. They claimed to be a strictly regulated broker on their website, promising traders phony security, and attempting to entice new investors to whom they can then pitch false tales. In addition to lying about being licensed, this dishonest con artist failed to respect its traders and follow the rules even when it was regulated.
We found out that the broker operated mostly from the UK and the US. Needless to say regulation by the Financial Conduct Authority (FCA) is necessary for any financial institution, including brokers, wanting to operate from the UK. Even though they were regulated by the NFA, the US has very strict rules and regulatory oversight, which this broker did not respect.
It was surprising to learn that Inst-Global offered MT4 as their platform. Scammers usually don’t try too hard to create good trading conditions, including the trading platform.
We were not shocked to learn that this organization doesn’t offer a demo account. Why would they even provide investors the chance to try out their services if they don’t intend to trade with them in the long run? It was never their original plan to devote the time and money to provide favorable trading conditions anyway.
|Financial Instruments On Offer||
|Education or Extra tools||None|
Is Inst-Global Legit?
Inst-Global is everything and anything besides a safe trading firm. They failed investors several times, including the time they lied about being regulated by the NFA and not letting traders withdraw their funds. Additionally, the high leverage they provided didn’t match the rules the US has, so their license was revoked.
If you plan on trading with this investment company, we are pleased to inform you they are no longer operational, meaning there is one less scammer in the world. Their time of delaying withdrawals and selling fake stories about huge profits is finally over.
How Is the Scam Carried Out?
Brokers like this one will usually try to make you download software that allows them to access your computer, such as AnyDesk or TeamViewer. In addition to risking your funds, you also risk the personal information you have stored on your computer. Never download similar software because reliable brokers would never ask that of you.
After they sell you fake stories about profits, once you want to withdraw those ‘profits’ you earned, they will delay the process for months, until it becomes almost impossible to get your funds back. The countries that this firm operated from include the United Kingdom, the United States, Indonesia, India, and Spain.
Deposits and Withdrawals
Brokers like GCB London and Inst-Global usually use untraceable payment methods, such as cryptocurrency. By doing that, they ensure that nothing will be traced back to them. You should avoid using brokers that don’t accept credit/debit cards because filing a chargeback becomes impossible.
Withdrawals were probably not even possible with this brokerage company. With so many reported issues, we doubt anyone received their money until regulatory authorities got involved. The withdrawal process needs to be transparently shown on the broker’s website, along with any fees you might encounter.
Can I Make Money While Trading Online?
Trading online for profit is conceivable, but it needs careful planning and the appropriate resources. You must educate yourself about risk management, trading methods, and the financial markets. It’s important to start with some money, but you should never trade with funds that you can’t afford to lose. And remember, profits are earned, not guaranteed.
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What is Inst-Global?
They are a fake regulated brokerage company claiming to operate from the United States.
Is Inst-Global Regulated?
The firm was once a regulated broker, however, even after their license was revoked, they still claimed to be regulated by the NFA.
How To Get My Money Back From Inst-Global?
Ask your bank whether there are any chargeback possibilities. Complain to the appropriate regulatory bodies as well. You can get in touch with the National Futures Association or the Commodity Futures Trading Commission in the US.