We have encountered another company promising high returns and fruitful cooperation. But things are not that simple. In our CGL (Dubai) Limited review, we explain why there is a high probability that money will be lost. Could this be a fraudulent organization?
Is CGL (Dubai) Limited a Trusted Platform?
This firm claims to be related to the United Arab Emirates. However, the registration address is not provided. Therefore, you will have to verify this information yourself. On the UAE Ministry of Economy website, you can find information about all registered organizations in the country. We did find a record of CGL (Dubai) Limited in the registry, but it has nothing to do with the subject of our review. Its honest name was simply taken and used to pass off as a broker. In reality, here is its site, and you can read about what this company actually does: https://cgl.ae/what-we-do/.
Thus, the site cgl-limited.com is phishing. This broker is simply trying to pass itself off as a legitimate company! Do not trust it with your money.
Concerned About Withdrawal?
Banking details for depositing funds are not available on the main page of the website. Therefore, we had to register to obtain this information. Creating an account on the CGL (Dubai) Limited trading platform takes just a minute. To deposit, you need to use bank cards. There is no information on how long it takes for funds to be credited to the account or for withdrawals to be processed. It is unclear where funds can be withdrawn. It can only be assumed that it involves the same bank cards used for depositing.
How Long Does The Broker Work?
Interestingly, the original company has been in the market for several years. However, the fake one we are examining now appeared not so long ago. According to the Whois service, the domain was registered only in June 2024. Thus, it has been operating for a very short time. Trusting such an organization is not advisable. There is a high probability that this scam is also a “fly-by-night” company that will cease its activities after fraudulently taking its clients’ money. Attention! This review belongs to InvestExpertHub.
Other Signs of Fraud
❗CGL (Dubai) Limited provides almost no information about itself. It is unclear how to contact its representatives. The only way to get in touch is by providing your phone number during registration. After that, a manager will call you, and you can be sure they will aggressively offer the company’s services.
❗The trading conditions are not clearly disclosed. Everything will have to be checked only after registration. Reliable brokers do not operate this way.
❗There is also a clone of this project – another scam under the name GMG (Dubai) Limited. Compare both sites; they are similar in design and story. Of course, both simply pass themselves off as real companies.
CGL (Dubai) Limited Review Conclusions
CGL (Dubai) Limited is not recommended for cooperation. It does not have documents allowing it to conduct brokerage activities. Therefore, do not make deposits to avoid losing your money.
➕Fast account creation.
➖No registration.
➖No license.
➖No contact details provided.
➖Short work duration.
FAQ
How is CGL (Dubai) Limited regulated?
It is not regulated at all. It does not have any licenses.
Is it safe to work with this broker?
No. You may not be able to withdraw your money. It is clear that the company is a fake.
How can I get my money back?
Chargeback services may not always help in this situation, but you can try. It is also worth contacting law enforcement agencies.
Brief Conditions
|
Type |
Forex |
|
Location |
UAE |
|
Establishment Year |
2024 |
|
Regulation |
❌ |
|
Customer Service |
❌ |
|
Languages |
En |
|
Demo Account |
❌ |
|
Mobile Trading |
✅ |
|
Web-based Trading |
✅ |
|
Bonuses |
❌ |
|
Minimum Deposit |
❌ |
|
Max. Leverage |
❌ |
|
Scalping Allowed |
✅ |