Hello, trader! You’re probably here because you’ve come across the broker Global Reachout and their website globalreachout.com. Perhaps an insistent “analyst” has already called you, painting pictures of a carefree future with dizzying profits. The site looks solid, the promises are enticing, but something inside tells you: “Is this a scam?” Let’s be honest: your intuition is spot on. Today, we’ll dissect this “hero” piece by piece and prove why your money should stay as far away from this company as possible.
A Beautiful Wrapper and a Bitter Filling
The first thing that catches your eye on the Global Reachout website is the typical set of marketing clichés. They talk about “innovative technologies,” “the best trading conditions,” and a “team of professionals.” All this is standard smoke and mirrors used by hundreds of similar scam projects. They create an illusion of reliability to lull the vigilance of beginners.
However, upon closer inspection, we find nothing concrete: no license numbers, no information about the company’s registration, no names of the management. Everything is anonymous and deliberately vague. This is the first and biggest red flag.
“If a broker hides their legal information and cannot provide a scan of a valid license from a well-known regulator (FCA, CySEC, ASIC) — it’s not a broker, but an anonymous webpage for collecting money.”
The Main Ace of Fraudsters — Lack of License
Let’s be honest: trading in financial markets without a licensed intermediary is like jumping with a parachute you made yourself out of a bedsheet. Maybe you’ll fly, but the landing will be fatal. Global Reachout has absolutely no permits to conduct financial activities. They are not subject to any financial regulator.
What does this mean for you as a client?
- Your money is not protected. No compensation funds apply to you.
- All disputes are resolved in favor of the broker. You have no arbitrator to turn to.
- Quotes can be “painted.” The platform is entirely under their control, and they can wipe out your account with a losing trade at any moment.
“Collaborating with an unlicensed broker is voluntarily handing over your money to scammers with zero chances of a lawful refund through a regulator.”
How Global Reachout’s Scam Works
The scheme is simple and has been perfected over the years. First, they persuade you to make a minimal deposit, usually $250. Then they assign you a “personal analyst,” whose main task is not to help you make money but to extract as much money from you as possible. They might even show you an initial profit to make you believe in success and invest more.
Problems arise when you try to withdraw funds. Suddenly, there are urgent “fees,” “taxes,” “insurances,” or verification requirements, for which you need to make another payment. It’s an endless cycle of extortion. As soon as they realize you won’t give them more money, your account gets blocked, and the “analyst” stops responding.
“Any request from a broker to pay a tax, fee, or insurance to withdraw YOUR own money as a separate payment is a 100% sign of fraud. All legitimate charges are deducted from the withdrawal amount.”
Verdict
Global Reachout (globalreachout.com) is a classic fake broker created with the sole purpose of deceiving trusting investors. The lack of a license, anonymity, aggressive marketing, and complaints about the inability to withdraw funds leave no room for doubt. Stay as far away from them as possible and warn others.