Embrace the future of your finances with Trade Galactica. The broker is ready to provide you with everything you need for financial success. However, let’s put their promises to the test. Are they the real deal, or just another scam? As always, you’ll find the answers in our concise review.
- Trade Galactica General Information
- Registration and Client Portal Review
- Trade Galactica Trading Conditions
- Account Types Review
- Trading Platform
- Trade Galactica — Deposit and Withdrawal of Funds
- Additional Options
- Is Trade Galactica a Scam?
- Legal Information and License
- Tradegalactica.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Trade Galactica General Information
|1 Canada Sq, London, United Kingdom, E14 5AB
Registration and Client Portal Review
Trade Galactica’s official website is quite an eyesore. The color scheme chosen is not very appealing, and while it’s better than completely dark backgrounds that can be even more irritating, there are still other drawbacks to the site. For instance, there’s a limited amount of information about the company, making it challenging to understand its history, founders, and team. Additionally, the website is exclusively in English, suggesting that clients shouldn’t expect this broker to be truly international or global.
The registration process at Trade Galactica seems like something simple and standard that you’ve seen dozens of times before. The broker suggests opening an account by filling out a small form with contact details, including full name, phone number, email, and password. However, after completing the form, you won’t be able to proceed further. You’ll encounter various errors, such as an incorrect phone number or email. Thus, creating an account and accessing the client portal becomes impossible. The reason for such a closed registration system is unclear. Perhaps the company is somehow restricting traders by country, or they prefer to welcome only those with whom they’ve personally spoken before creating an account. This limitation is inconvenient and can deter potential clients.
Trade Galactica Trading Conditions
While promises can be made, the real test lies in the actual quality of the trading terms. Let’s take a closer look at whether their trading conditions live up to expectations.
Account Types Review
Trade Galactica offers a selection of 6 account types, all of which are real – there are no demo accounts on this platform. The first tier is called the Starter account, with a minimum deposit of $2,500, which is notably higher than the average. However, the broker’s appetites grow even more significant. The next account requires a deposit of $10,000, followed by $50,000, $175,000, $600,000, and a million dollars for the Gold tier. What extraordinary features does this company offer its clients that necessitate such deposits? The answer is, essentially, nothing. Traders can expect risk-free trades, analyst consultations, some bonuses, access to scalping, and even a guaranteed ROI.
It’s worth noting that these privileges do not apply to all accounts. Specifically, the more money you have in your account, the more services Trade Galactica provides. By the way, details regarding leverage and spreads are not specified.
Trade Galactica seems to offer MetaTrader5, at least as stated in the “Platform” section. Clients can download the application on PC or mobile devices and use the web version. However, there’s a catch – verifying whether it’s indeed MetaTrader 5 is impossible without logging into the personal account. And, as we remember, creating one is impossible due to broken (or closed) registration. Additionally, Trade Galactica is not listed among the brokers collaborating with MetaTrader 5. So, the platform they provide remains a true mystery.
Trade Galactica — Deposit and Withdrawal of Funds
The user agreement outlines several deposit methods, including bank transfers, debit and credit cards, as well as cryptocurrencies. However, here’s the catch – you can only withdraw funds using cryptocurrencies. Furthermore, Trade Galactica sets an exorbitant processing time for withdrawal requests. You’ll have to wait for your money for 7-10 days. It’s nonsense to wait so long for a cryptocurrency withdrawal.
To undergo verification, Trade Galactica requires the standard procedure. However, it’s unclear whether documents can be uploaded through the Client Portal or need to be sent by mail. The verification process generally follows a standard routine, which includes the following steps.
- Submit identification documents. Typically, a government-issued ID, passport, or driver’s license is required.
- Provide a utility bill or bank statement to confirm the residential address.
- Submit documents related to your financial status, such as bank statements or income proofs.
- The broker may request a selfie holding the identification documents for additional confirmation.
Trade Galactica offers a variety of additional services, with a particular focus on risk-free trades and ROI. However, it’s crucial to understand a few aspects. Firstly, where there are risk-free trades, there’s often no direct exposure to the real market. Dear traders, if you seek to engage in genuine market trading, losses and profits are inherent. There’s no risk-free guarantee. Such maneuvers are typically associated with boiler-room tactics.
Moving on to ROI at 33%, seriously? Why not 133%? In other words, this is a significant figure, and it raises questions about how they generate such returns. What mechanisms, investment strategies, or ventures allow Trade Galactica to guarantee such substantial profits? Frankly, it sounds suspicious.
Approach these claims with caution, especially when the profit percentage directly correlates with the size of your deposit, as seen on this platform.
Is Trade Galactica a Scam?
At last, we come to the most crucial aspect – examining the legitimacy of this project. Despite our suspicions that there might not be anything positive to find here, let’s take a closer look.
Legal Information and License
In the footer, there’s some legal information provided, including an address and a registration number. It appears that the company is registered in the UK. We cross-checked this information with the UK registry and did indeed find Trade Galactica listed. However, something immediately caught our attention – the nature of the project activities is stated as ‘Fund management activities.’ Typically, this isn’t what brokers engage in. Regardless, we further checked the FCA registry – the primary UK regulator. Every broker aiming to operate legally must obtain a license from the FCA. And what did we find? Unsurprisingly, there is no license for this company. So, when it comes to legitimacy, our review subject is facing significant issues.
Tradegalactica.com Domain Info
Additionally, Trade Galactica appears to be an unreliable broker in terms of its track record. We checked the domain of this website and found that the content was updated very recently, in June 2023. Before that, the site wasn’t functioning properly. So, the actual operational history of the project is just a few months. Consider whether it’s wise to trust all their grandiose claims in such a case.
Trade Galactica provides contact options such as a phone number and email, along with an office address. However, it’s worth noting that the address on the map doesn’t indicate the presence of such a broker. So, if you plan to pay a visit, don’t expect a warm reception.
Pros and Cons
- Wide range of account types.
- The minimum deposit for the starter account is relatively high at $2,500, and it increases significantly for higher-tier accounts.
- Lack of transparency.
- Registration issues.
- Unverifiable trading platform.
- Lengthy withdrawal processing.
Frequently Asked Questions (FAQ)
Trade Galactica claims to offer a range of trading services, including risk-free trades and a guaranteed return on investment (ROI).
Trade Galactica imposes a minimum deposit requirement of $2,500, which is significantly high. According to trading conditions, investors are encouraged to deposit larger sums for increased privileges.
No, Trade Galactica is not considered safe. The broker operates without a license, raising concerns about the safety of funds and the overall reliability of the platform.