Shaw Global Trade – Can You Trust Them?

Website URL: https://shawglobaltrade.com

Founded: 2022

Regulations: No Regulation

Languages: English

Deposit Methods: Cryptocurrencies – Bitcoin, TRON, USDT, Ethereum

Minimum Deposit: $100

Free Demo Account: Not Provided

Number of Assets: Information Unavailable

Types of Assets: Stocks, ETFs, Options, Futures, Futures Options, Cryptocurrencies, IPOs, Mutual Funds, Forex Trading

Trading Accounts and Conditions

Shaw Global Trade does not offer their clients trading accounts and trading conditions. Instead, this broker offers their clients Plans. Here are the details:

• Standard Plan: The deposit range is from $100 to $599. There is a 24-hour maturation period, after which you get a 3% profit.
• Premium Plan: The deposit range is from $699 to $1,999. There is a 3-day maturation period, after which you get a 6% profit.
• Ultimate Plan: The deposit range is from $2,000 to $5,999. There is a 7-day maturation period, after which you get a 9% profit.

All plans have a referral program. A level 1 referral gets you 5% and a second level referral gets you 2%. The broker does not specify what these percentages are. The broker also claims that withdrawals are instant.

Shaw Global Trade – Advantages

There are no advantages in dealing with Shaw Global Trade. This broker is a scammer.

Shaw Global Trade – Disadvantages

Shaw Global Trade is not a broker to be trusted and this is how we know:

• Blacklisted Unauthorized Broker

Shaw Global Trade states that they are based in Kent, UK. The broker does not provide us with a contact number; the only two ways to contact them is via a generic email address or by filling in the Contact Us form on their website.

We also have no clear idea about the company that owns and operates this online broker. On their homepage’s footer, there is a line that states that all rights are reserved by Artureanec. However, on their Contact Us page’s footer, another company is mentioned in their copyright statement: TygerDev. And the, in their About Us page, the broker claims to be a part of the Shaw Global Brokers Group, Inc.

The broker also claims to employ more than 500 workers spread across the USA, Switzerland, Hong Kong, UK, Canada, Australia, India, Hungary, Russia, Japan, China, Ireland, Singapore and Estonia.

And then the broker claims that IBKR is regulated by the NYSE, FINRA, SEC, FCA as well as other regulatory agencies.

All of these claims are lies. The broker does not specify the SEC of which country. If it is the US, brokers need to be regulated by the NFA and the CFTC, not the SEC. The FINRA does not have this broker listed on their database. The NYSE is a stock exchange and not a financial regulatory authority. And the FCA has issued a warning against this broker for operating illegally in the UK.

The FCA is one of the most renowned financial authorities in the world. Therefore, for a broker to be red-flagged by them is a clear indication of their scam. Dealing with an unauthorized scammer is a sure way to lose your funds.

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• No Legal Documents

Despite going through this broker’s website in detail, we could not find any legal documents anywhere. This is another red flag that tells us that we are dealing with a scammer.

Regulated brokers are legally required to present detailed legal documents on their website. This is because these documents constitute the contract between the broker and the client. A broker can take advantage of you if you decide to go ahead and do business with them without first checking their legal documents.

Scam brokers depend on our tendency to skip the boring legal documents while registering for a new account. This is why we strongly recommend that all traders take the time to go through the legal documents before they sign up to protect themselves from being scammed.

• No Trading Platform

Another red flag that tells us that Shaw Global Trade is a scammer is the fact that this broker does not even have trading platform. Considering that a broker’s main offering is their trading platform, the lack of one is a glaring indication of a scam.

• Plans Offered Instead of Trading Accounts

The reason for the lack of a trading platform becomes abundantly clear when we see that this broker does not have any trading accounts or conditions to offer. Instead, we are offered Plans.

There are 4 types of Plans, each of which has an investment range. And then there is a guarantee of returns after a set period of time. This does not sound like a broker, but more like a Ponzi scheme.

The forex market is so volatile that there is no way any broker can guarantee profits or returns on your investment. In fact, regulated brokers need to publish the percentage of losses their clients have suffered while speculating on the market. This figure ranges from 75% to 85%. Therefore, if a broker promises you riches, then you know that you are dealing with a scammer.

• Single Payment Option

The only way that you can make payments with this broker is via cryptocurrencies.

In fact, the first red flag is when this broker demands your crypto wallet details right at the beginning – during registration. No legitimate broker would ask for such sensitive details.

Added to that, real brokers will offer their clients a wide range of payment options. This way, you can choose the option that you are most comfortable with. It is wise to remember that crypto payments are all permanent and anonymous; once you have carried out a transaction in crypto, there is no way to reverse it or to get your money back. And that is why scammers use this payment option. 

Conclusion

Shaw Global Trade should not even call themselves a broker; they are a get-rich-quick Ponzi scheme scam. Your money is not safe with them.

Shaw Global Trade

2.4

User Experience

2.0/10

Payment Options

2.5/10

Security

2.5/10

Support

2.2/10

Reputation

2.6/10

Pros

• None

Cons

• Blacklisted Unauthorized Broker
• No Legal Documents
• No Trading Platform
• Plans Offered Instead of Trading Accounts
• Single Payment Option