Trade Galactica is an online broker with an average rating of 4 stars in online reviews. Our task is to thoroughly analyze this UK-based company, which was founded in 2018, but does not have any licenses, including from the FCA, although it should. We will also examine the trading conditions and identify red flags that will help us determine whether the firm is a scam or not. If you want to find out whether you can trust this organization with your money, join us.
Table of Contents
Highlights
| 🏛️ Country | United Kingdom |
| ⚠️ Regulation | – |
| 🖥️ Website | https://tradegalactica.com/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2023 |
| 💲 Minimum Deposit | $2,500 |
| ⚖️ Minimum and Maximum Leverage | – |
| ⚙️ Trading Platform | MetaTrader 5 |
| support@tradegalactica.com | |
| 📞 Phone | +442081574773 |
First Impression of Tradegalactica.com
The official website of Trade Galactica left much to be desired. The overwhelming presence of orange can be too bright and straining for the eyes, making it difficult to spend a prolonged period on the site. Additionally, the choice of font is unfortunate; it is harsh on the eyes, and in some places, it is too small, complicating the reading of information.
The photographs featured on Trade Galactica’s homepage appear to be stock images. Utilizing more unique and original images could have made the design more appealing. Some pictures seem out of place in the financial theme. It feels as though we are on an online shopping site rather than a broker’s: unclear images of girls with bags and suitcases in hand, which is definitely not in line with a brokerage or financial style.
At the top of the page, there is a menu with main sections explaining to visitors information about the platform, account types, the company, and so on. There is a lot of meaningless text, and some details are overlooked. Overall, we can give Trade Galactica’s website a poor rating, even though it stands out a bit from the vast pile of generic and similar resources from other firms.
Partnership and Bonuses
Clients can receive bonuses for depositing funds. However, this option is only available for deposits starting from $10,000, and the bonus amount begins at 15%. Meanwhile, the conditions that Trade Galactica sets for traders to work off the bonuses are quite stringent. One must complete a trading turnover exceeding 20,000 times the amount of the bonus funds.
Nothing is known about the affiliate program, as it is not mentioned on the site. Perhaps there is a referral link in the personal account for inviting clients, but why not specify the details of the conditions? In any case, we do not observe an affiliate program at Trade Galactica.
Account Opening on Tradegalactica.com
The registration process with the broker is very quick. You need to provide your name, email, phone number, and password. However, the account creation process hits a snag at this point. When clicking “Register”, the system displays an error message: “Error! Check the correctness of the entered data.” It is unclear what exactly the problem is. We tried changing each field with information, but it did not yield any results. Apparently, registration at Trade Galactica is unavailable due to technical reasons. And it is a significant drawback. How to create an account? Do you need to contact technical support? It is a lengthy and complicated process.
It is also worth noting that there is no demo account at Trade Galactica. At least, it is not described anywhere or mentioned in any way.
Verification
The company adheres to AML & KYC policies, and therefore reserves the right to request not only personal information but also documents to verify it at any time. Trade Galactica asks users to upload documents to confirm the trader’s identity and residential address.
- None.
- It is unknown how to upload documents for KYC.
Trading Software
According to information from the official website, Trade Galactica offers trading on the MetaTrader 5 platform, which is available on PC, iOS/Android, and also as a web terminal.
Since we were unable to create an account and access the platform, we cannot be certain that Trade Galactica actually uses the popular MetaTrader 5 platform. Therefore, we have to take the broker’s word for it, which is a rather naive approach. Brokerage firms, especially dishonest ones, tend to describe their trading terminals as if it is the best software in the world. However, it is not uncommon to encounter misleading information and outright fakes, where a firm talks about one platform but offers another. So, there is no guarantee that MetaTrader 5 is actually available here.
| Features | Trade Galactica | LiquidChart | Fine Capitals |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ✔️ |
| Mobile App | ✔️ | ✔️ | ✔️ |
| Own Development | ❌ | ✔️ | ✔️ |
How Can I Trade With Trade Galactica
Traders have access to various asset classes: forex, commodities, metals, indices, cryptocurrencies, and stocks. However, the minimum deposit and the set of additional services at Trade Galactica depend on the tariff plan.
All Info About Accounts
The broker offers six different types of accounts, and the minimum deposit amounts are quite astonishing. The first tariff requires replenishment of $2,500 – a simply outrageous minimum deposit, especially compared to other firms where the entry threshold ranges from $1 to $100, no more. The second account type starts at $10,000, and it doesn’t even make sense to consider the third, fourth, and the last two. You need to invest $50,000 or more to activate these tariffs. What is Trade Galactica thinking, setting such high minimum thresholds? It’s unlikely that anyone would be willing to invest hundreds of thousands of dollars in a firm that doesn’t even mention a license on its website.
What’s even more interesting is that beginners, who can only afford the starter account type, get almost nothing from the broker. “Starting” account holders receive an account supervisor, 24/7 customer support, and a 2.5% guarantee of investment increase returns. That’s it. “Basic” account holders are also significantly disadvantaged. Trade Galactica offers them a bonus and an increased percentage of income returns. Some additional options start to appear only at the tariff of $50,000.
What is this, if not a blatant extortion of money? Creating terrible conditions for the minimum account types while simultaneously offering ideal conditions for those requiring massive investments. Such an approach is only encountered among fraudsters.
The size of commissions and spreads, leverage, and swaps are unknown parameters. The broker seems to be deliberately hiding them. The high minimum deposit is a significant drawback, and we must not forget about the absence of a demo account. An Islamic account is also not observed. A guaranteed return ranging from 2.5% to 33% also hints at a financial pyramid scheme (HYIPs). Where from these the guarantees, especially of such a colossal size? A 33% return is high even for a year; for instance, the SP500 index grows by an average of 10% per annum, while Trade Galactica is offering three times more.
- None.
- $2,500 is a very high minimum deposit.
- You can’t try it on the demo.
- Islamic account is not presented.
- Important terms are hidden: commissions and spreads.
Market Analysis and Education With Tradegalactica.com
The broker has developed analytical and educational sections for its clients. The academy consists of materials and lessons for beginners, advanced users, and those wishing to learn about cryptocurrencies. Trade Galactica’s analytics include fundamental and technical analyses, news, and market trend identification. For some reason, the website also features links to download programs for accessing remote desktop, WhatsApp, Telegram, and JitBit.
Deposit, Withdrawal, and Fees
There are various ways to deposit funds into Trade Galactica:
- Bank wire transfer.
- Credit/Debit card.
- Digital currency.
However, withdrawing money is only possible via cryptocurrency, with a minimum amount of $10, a commission fee, and a processing time of 7-10 business days. The commission and lengthy withdrawal process are significant drawbacks at Trade Galactica.
| Features | Trade Galactica | Market Haven | TradeCMF |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ❌ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ✔️ | ❌ |
How Can I Contact It?
To contact the company’s managers, you can use a phone number or email. Additionally, you can create a request for a callback through a special form on the website. Trade Galactica also has accounts on Instagram and Facebook, but there are hardly any followers and very low activity. It is worth noting the absence of an online chat for prompt resolution of issues with technical support.
- There’s social media.
- No online chat.
Is Trade Galactica Dangerous?
In reality, the broker does not seem to be a profitable or safe option for opening an account. The trading conditions are too opaque, and the minimum deposit is perplexing. It is too early to draw any definitive conclusions, so we need to check the operational duration of Trade Galactica and its legitimate status.
How Long Does The Broker Work?
The firm shares its founding date as 2018 in the “about us” section, but this should not be taken at face value because the website’s domain was only registered in 2022, and many reviews only appeared in 2023. It is also worth noting that the domain was updated in 2023. Could it be that Trade Galactica purchased the site and placed its platform on it? Webarchive can provide insights.
In 2022 and the beginning of 2023, the site was not operational, as shown by Webarchive. It means that the version of the site we can see now only appeared recently. Therefore, the broker has definitely not been in existence since 2018. It indicates the presence of false information from Trade Galactica.
How Is Trade Galactica Regulated?
So, the firm has been caught out on its fake founding date. Now, it’s time to check the legal address and licenses. Let’s start with the latter. Trade Galactica is a British broker, meaning it should have obtained a license from the Financial Conduct Authority, but alas, the firm has not received any license.
Now, let’s check if there is even such a legal entity in the UK. The Companies House registry showed us a company named Trade Galactica, registered under number 14968443 on June 28, 2023. Alright, such an organization exists, but where is the license? And again – why does the broker brazenly lie about 2018 as the founding date when even the registry indicates 2023?
| Features | Trade Galactica | NPBFX | RannForex |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ✔️ | ❌ |
| Offshore | ❌ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With Trade Galactica?
Is Trade Galactica Legit?
How Risky Is It?
Kevin Berry It seems strange to see a broker from the UK without an FCA license. Perhaps the legal entity under number 14968443 has no relation to tradegalactica.com? Scammers often like to take an already existing organization and pose as it; it’s a popular tactic. However, the question remains relevant. In any case, even if it is an officially registered company, the absence of a license and fake positive reviews absolutely signal that one should not open an account with Trade Galactica. Especially since registration here is currently not available.
Trade Galactica rating
6 reviews about Trade Galactica
Why do they claim their founding date is 2018? Even when the registry shows 2023? The domain is fresh, and the social networks have also been created recently. In short, it seems like a scam, not a broker. I don’t think Trade Galactica will reliably offer you brokerage services. It’s 100% certain that they will swindle money at some point. It’s immediately apparent that this is a fraud, not a legitimate firm.
I have dealt with Trade Galactica. I cannot say anything good about the platform. I am certain that they manipulate fake charts, allowing them to “draw” any quotes they need to make traders lose money. It’s because the broker operates on a 100% b-book business model. There is no access to the exchange here, and the platform does not transfer client transactions to real liquidity. Essentially, Trade Galactica is a fake platform that scams people out of their money in various ways. Additionally, they have high commissions and unreal spreads. And yes, the terminal frequently freezes and becomes unresponsive.
Personally, I lost more than $3K here and deeply regret choosing this firm for trading. I should have chosen a more verified intermediary, one with licenses, reliable operations, and a good online reputation. I even fell for the positive reviews that can be found, for example, on Trustpilot, but they turned out to be fake. In general, I gave my money to scammers who don’t even bother to contact me anymore. To be precise, they reached out once, but never again.
These people are as tenacious as they come. Phoning constantly, unrelenting.Call Block, Different Number. Call Block, yet again.Over and over. NO UNCERTAIN TERMS TOLD NOT INTERESTED. STILL AGAIN NEW NUMBER. DONT GET INVOLVED. NOT REGISTERED ETC. I REPEAT, DONT. GET. INVOLVED!!!!!!
I have had a bit of experience with TG, and trying to determine if it a scam or legit. I can shed some light on some of things you weren’t sure about since I did open an account with them. On one level they seem legit with “Account Managers” who are very knowledgeable about trading with technical analytics, and very aware of events in the financial realm and world events, and how they anticipate they will impact the markets. Would you like to open a dialog? I would really appreciate your help in coming to a conclusion on this outfit’s legitimacy or not. Thanks.
Further to my previous message, the problem you experienced with trying to open an account online may because they don’t operate in the US, and several other countries? On their website Accounts page, they state “The company TRADE GALACTICA and the website tradegalactica .com do not provide any services to citizens and residents of the United States, Belgium, Turkey, Israel, Syria, Sudan, Iran, North Korea, Japan, as well as other countries and jurisdictions where these services cannot be provided under applicable law. ” They seem very familiar with Canada.
You cant draw money I lost 1300 cd so far I blame the Fu..k Elon Musk for his ads.