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Decode Global Broker Review
The Decode Global Review is our prized catch from our scammer-hunting expedition, and it is located right here. We had to travel all the way to Oceania to stop this terrible fraudster from succeeding in its heinous scheme. Stop chatting and begin our analysis, please!
In addition, always research an online trading company’s history before investing!
Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: en.decodefx.com
Blacklisted as a Scam by: N/A
Owned by: Decode Global Ltd.
Headquarters Country: Vanuatu
Foundation year: 2023
Supported Platforms: MT4 & MT5
Minimum Deposit: 100 USD
Cryptocurrencies: No
Types of Assets: Forex, Indices, Commodities
Maximum Leverage: 1:500
Free Demo Account: Unavailable
Accepts US clients: Yes
Several Organizations Regulate Decode Global.
Decode Global is an obvious offshore provider, and as such, it is unregulated, making doing business there extremely risky. The financial scammer claims to be based on the Oceanian island of Vanuatu. Decode Global ltd is listed in the local Financial Services Commission’s database. Singapore owns the area code (+65) for phone numbers.
Even though this company is registered in Vanuatu, this does not really matter because the regulator is untrustworthy. Offshore brokers typically don’t follow strict regulations. Additionally, client protection is not a concern of the Vanuatu regulator.
Why Is Trading Through a Licensed Broker Better?
On the other hand, the regulator in the neighboring country of Australia, ASIC, does impose requirements on brokers. For instance, each broker is required to maintain a minimum operating capital of AUD $1,000,000 at all times. The clients must also be given a separate bank account and negative balance insurance.
Great, isn’t that right? Well, if you choose to trust a dubious offshore broker like Decode Global, forget about it.
Decode Trading Platform
Meta Trader 4 and Meta Trader 5 are two of the top trading platforms, according to Decode Global. We had our doubts after reading this, and they appear to be well-founded. It appears that the download files contain some sort of software that is neither MT4 nor MT5.
The fraudulent broker made matters worse by refusing to provide a free demo account that would have given us access to the trading platform and its terms. As a result, we advise you to avoid Decode Global.
Decode Global allegedly offers traders a mobile version of its platform. The scammer pulled off another clever ruse. First off, mobile platforms are superior to desktop counterparts overall but good for quick intervention. We don’t advise installing the mobile platform due to the broker’s fraudulent nature.
Again, the desktop versions are very dubious. They are not what was implied by the presentation. The names MT4 and MT5 are frequently used by offshore scammers like this one to entice victims. This fake platform was developed by an unreliable publisher, making it generally unreliable for trading and making deposits.
Decode Global: What Сan Be Traded?
According to reports, Decode Global only provides these three options for trading assets:
- 35 forex currency pairs, 0 pip spread, EUR, USD, and JPY;
- US, German, and Chinese indices, with a maximum leverage of 1:100 and a spread of 0 pip;
- Gold, silver, crude oil, and other commodities are leveraged at 1:500 with no spread.
Zero stocks? Zero crypto? Unsatisfactory, Decode Global. However, the broker was not very specific about any of these instruments. Opening a live account appears to be the only way to learn more, but that’s the worst thing a person can do.
Countries Of Service – Decode Global
We conducted a lot of digging and discovered where this shady scammer dug its claws. Its offshore location is problematic, and the trading terms it provides aren’t any better. So, if you live in one of these nations, be careful. The regulators in each of these nations have put in place severe regulations. Not this clown—you ought to have a broker with licensing.
- Germany;
- Canada;
- Australia;
- UK;
- US.
Decode Global Account Types
Decode Global only provides the following two account types:
STD – spreads from 1.5 pips, commission-free;
PRO – spreads from 0.0 pips, $7 commission.
No, these particular circumstances sort of even out these two categories. While the latter has the best spread ratio imaginable but levies hefty commissions, the former has uncompetitive spreads and is commission-free. Since nothing to the contrary was indicated, we assume that the $100 minimum deposit applies to both.
Decode Global Leverage, Spreads and Fees
The section on account types has covered the unfavorable spread/commission ratio. The maximum degree of leverage offered by Decode Global to traders is 1:100 for Forex and 1:500 generally. Wow, even for an offshore supplier, that’s really pricey.
To prevent massive losses, leading authorities have restricted leverage for main FX pairings for retail clients to 1:30. Despite this, traders continue to lose money. Just picture the mayhem that might break out at higher levels.
Although the $100 minimum deposit is not exceptional, it is still not wise to take a chance with such a doubtful supplier. Decode Global states that it supports wire transfers, US Tether, and Chinese UnionPay as payment options. Lack of credit cards? Strange. There are allegedly no fees.
Naturally, the broker will accept a cryptocurrency asset. Because it allows them to stay anonymous, cryptocurrency is a favorite among scammers. Be cautious with this.
Decode Global: A Trustworthy Broker or a Scam?
Decode Global is a fake broker that purports to offer trading in CFDs and forex. The unscrupulous con artist primarily preys on unwary traders from Australia, Germany, Canada, the United Kingdom, and the United States.
Due to its lack of regulation and numerous trading regulations violations, Decode Global is clearly a scam broker.
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