Trade Galactica

Investigating Trade Galactica: A Comprehensive Review

Trade Galactica presents itself as a global leader in investor education, innovations for mobile trading, and many other areas. However, we are more inclined to label this CFD broker as a global-scale scam and recommend traders to steer clear of this project. Why? Read our review, and we will explain everything in detail.

Overview of Trade Galactica

Our initial encounter with the broker began, as usual, with their official website. What impression does Trade Galactica leave on potential clients?

Broker History

According to Trade Galactica, the platform commenced operations in 2018, during the growing demand for cryptocurrency trading. The initial task of the creators was to develop a user-friendly digital asset exchange platform for their own needs, which was later offered to the community. Thus, the broker claims to have at least 4 years of market experience, during which the team focused on integrating innovative technologies into financial market trading. While this sounds impressive, it certainly requires verification. We will return to the verification of platform history information a bit later.

Tradegalactica.com Website

At first glance, the official Trade Galactica website creates a positive impression. Successful design, fast page loading, and logical transitions suggest careful work on the web resource.

However, upon closer inspection, all the charm dissipates. We recall that Trade Galactica boasts about its merits and aspirations in trader education. Still, we question what specialists who are unaware of even the interests and requests of trading participants can teach clients. For instance, the website pages never mention lists of assets accessible through Trade Galactica (apart from cryptocurrencies). This raises questions:

• Are we dealing with a crypto-broker? However, 99% of clients do not need such services, as dealing directly with crypto exchanges is more profitable and efficient. What about the loud statements regarding access to global financial markets and a multitude of analytical materials on trading currencies and other exchange instruments, not just crypto?
• Is the broker versatile, offering CFD contracts for various underlying assets? If so, why don’t they inform prospective clients about the specifics of their pricing and the process of trading these assets? Or do all efforts to become a leader in education end with the video materials collected on the Education page, which are uninformative and disjointed?

The same can be said about trading conditions, the execution of non-trading operations, and so on. Another interesting fact is found in the Analytics section of Trade Galactica, where publications with fundamental and technical analyses of various assets, evaluations of their direction and trend strength are gathered. The broker values them so much that they even prohibit copying in the browser. However, identical sets of materials (not similar but exact copies) can be found on half of the scam platforms.

Perhaps it’s time to acknowledge that the specialists behind these analyses and forecasts have no connection to the project? Consequently, all tales of a professional team are merely legends.

Registration Process and Personal Account

Signing up as a new client with Trade Galactica reveals that the broker operates in its own universe, where the laws of the countries it operates in and the requirements of regulators do not apply. Otherwise, it is impossible to explain such an organization of the registration process.

The registration form provided by Trade Galactica is a kind of masterpiece. The future client of the broker needs to input only:

• Full name.
• Email.
• Phone number in international format.
• Password.

The first sign of this “ingenious solution” is the minimum information in the form and the absence of requests for reviewing and accepting the terms of any documents. The laws of most countries and the regulations of financial regulators require brokers to explicitly request an electronic signature (user consent). However, Trade Galactica, claiming to have “taken off in 2018,” continues its flight either without knowledge of such requirements or intentionally ignoring them. In either case, there can be no talk of legal activity.

This unconventional approach does not end there. Do you think it is impossible to make a mistake in a form with 4 fields? Trade Galactica is confident that no user can fill out the form without errors. Therefore, when attempting to submit it, the client receives the following message:

Everything is wonderful here, especially the fact that no one is going to show where a data error is suspected. Even if the user is absolutely certain of the correctness of filling in the fields down to the last letter and digit, it will not help. Naturally, completing the process and obtaining a valid account becomes impossible.

This approach is not new and is often practiced by scam brokers. It is advantageous for them to work only with clients interested in trading on their platform. It’s easy to find out — if a user contacts customer support regarding registration issues, it means they are willing to endure inconvenience and even deposit money into the account. The only thing left is to persuade them to deposit a larger amount.

Due to the inability to complete the registration independently, our acquaintance with the Trade Galactica personal account did not take place. Therefore, it was not possible to assess its functionality, convenience, or the implementation of specific account management operations.

Trading Platform

When it comes to the trading platform of Trade Galactica, things are more straightforward. The broker claims to use the well-known MetaTrader 5 terminal. A dedicated page on the official website describes it, and links to launch the web version and download desktop and mobile versions are provided.

We don’t intend to elaborate on one of the most popular trading platforms, analyze its pros and cons. Longreads on this topic can be found on hundreds of specialized portals dedicated to Forex and CFD trading.

Instead, we would like to raise a few questions for the broker:

1. Why do the links on the page lead to the login form? Can only registered users of Trade Galactica download the platform? What’s the point of such restrictions when users can download applications directly from the manufacturer (MetaQuotes) and easily connect to the platform’s servers?
2. Why is Trade Galactica not listed among the brokers for connection in the official MT5 app for Android?
3. Why is the platform missing in the list for iOS?
4. Why are server addresses for manual connection setup not published on the official website?

Furthermore, we agree that MetaTrader 5 is a modern and advanced platform that allows comfortable trading with various financial instruments, including cryptocurrencies. However, we have another question for Trade Galactica. What are the innovative solutions that the project team talks so much about on the official website in connection with trading? How do they interact with the terminal?

In general, it seems to us that the broker is being deceptive by claiming to use MT5 solely for the credibility it brings to clients. After the not-so-transparent registration process and transferring funds to the trading account, the trader will have to work with the terminal provided by the platform. Without a valid account, we cannot assert whether it will indeed be MetaTrader.

Contacts

Trade Galactica has placed its main contact information in the footer of the official website. Visitors can find the following details:

• Phone number: +442045930404.
• Email: support@tradegalactica.com.
• Facebook group: https://www.facebook.com/people/Galactica/100092277019784/.
• Instagram account: https://www.instagram.com/tradegalactica_01.

Social media statistics are also interesting. Trade Galactica has slightly over 180 followers on Facebook and 104 on Instagram. This seems low for a platform claiming to operate globally for five years.

Analysis of Services Offered by Trade Galactica

Certainly, the broker’s offerings are the subject of traders’ primary interest. We will try to meet the requests of potential Trade Galactica clients and comment on the data obtained.

Funding and Withdrawal

On the official Trade Galactica website, there is no mention of payment methods and the conditions for non-trading operations. The broker deemed it unnecessary to publish such data, despite having the “Regulations for Non-Trading Operations” listed in the documents. The text mentions only two payment options:

• Bank transfers
• Credit/debit card transactions.

We do not have access to the personal account, so we could not verify the compliance with the provisions of this document. Yet, questions arise. In the company’s narrative, Trade Galactica mentions starting with a cryptocurrency exchange platform. Since then (over 5 years), has the broker ceased to accept digital assets?

Trade Galactica Trading Conditions

Certainly, it would be desirable to see the trading conditions offered by the broker. However, Trade Galactica specialists have ignored such desires from both us and traders. In the table with account types, they only provide the minimum deposit sizes, bonuses, and guaranteed income. There are a total of six plans listed:

• Starting.
• Basic.
• Standard.
• Bronze.
• Silver.
• Gold.

Perhaps by publishing such a table, Trade Galactica aims to confirm its claims of being the best educational platform for traders. We are confident that the creators of the project have an entirely different goal — attracting newcomers to trade on the platform. It is difficult for these participants to identify scammers, but they are willing to accept trading signals, assistance from professional analysts and advisors when making deals. Need we say that this is the fastest and easiest path to losing a deposit?

Unique Features

Trade Galactica positions its educational services as unique and claims global leadership in this field. However, looking at the materials presented on the official website in the corresponding section makes it clear that these ambitious statements have nothing to do with reality. We watched videos from the Advanced section, and in our opinion, any trader with a couple of years of experience can create more quality and useful material. What Trade Galactica shows to advanced clients can easily be found online in tutorials for beginners.

The Extensions section of the official website is also noteworthy. Here, Trade Galactica introduces software used in client interactions. Pay special attention to remote control programs such as TeamViewer or AnyDesk. Are you ready to grant full access to your devices to outsiders? And are you not concerned about the risks of important data, including payment information, falling into the wrong hands?

Is Trade Galactica Trustworthy and Reliable?

Finally, we are moving on to the main aspect: exploring legitimacy. What will this broker reveal to us?

Assessing Legitimacy

Trade Galactica, on its official website and in all documents, provides a registration address in the United Kingdom. The footer of the page even includes the company’s registration number. These details can be easily verified on the Companies House website.

The Companies House data does show a company named Trade Galactica Limited under the specified registration number. However, we are confident that the subject of our review has no connection to this legitimate firm:

• The real company is registered in June 2023, not in 2018, as claimed in the broker’s history.
• The company is engaged in fund management activities (SIC 66300) and, naturally, has no involvement in Forex and CFD trading.
• The authorized capital of the firm is £100,000,000, making it unlikely to allow itself to be misrepresented online.

Furthermore, the young legitimate company has not yet obtained a license from the local regulator FCA and is not active in the financial markets. Any operations without such regulatory documents are illegal, and we congratulate Trade Galactica on its status as a fraudulent broker.

Established Track Record

Now, let’s verify the pseudo-broker’s claims about the project’s time of existence. We will use information about the domain registration date, obtained from the whois service.

As seen, the earliest record dates back to 2022, contradicting all the narratives about “Trade Galactica taking off in 2018.” Moreover, based on snapshots from the web archive, the active service started only in August 2023. The broker provides inaccurate information about its duration of existence. Can we trust the rest of the published information in this case?

Implications for Traders

Trade Galactica is another scam broker attempting to use the name of an existing company as a cover. The fraudulent project operates without official registration and a license; it only exists online and pursues the sole goal of misappropriating clients’ funds. Do not be prepared to lose them: do not open or fund accounts on this platform.

Strengths and Weaknesses of Trade Galactica