GALACTUS

Overview of GALACTUS

GALACTUS is a trading company established in 2017 and registered in Cyprus. Though it remains unregulated, the company provides a range of trading services through the MT4 trading platform, with opportunities to trade in Forex, indices, and commodities.

The minimum deposit to start trading with GALACTUS is €250, and traders can benefit from leverage of up to 1:30 and spreads as low as 0 pips. Additionally, a commission of €2.00 per side applies. The company offers only a personal account type, but a demo account is also available for those who wish to practice trading.

For customer support, individuals can contact them via email at cs@fx88.com or through their Instagram page. Deposit and withdrawal processes are facilitated through credit/debit cards and bank transfers.

Is GALACTUS Legit or a Scam？

GALACTUS currently lacks a valid regulation, which raises concerns about potential risks for its traders. Notably, field surveys have pointed out a negative review, further emphasizing the need for caution.

The CyprusCYSEC regulation with license number 322/17, which GALACTUS claims to have, is suspected of being a clone, adding another layer of risk. Traders and investors should be acutely aware of these risks and the potential for scams when dealing with this broker.

Pros and Cons

Pros:

1. Established Platform: GALACTUS uses the MT4 trading platform, which is a well-known and widely-used platform in the trading world.

2. Range of Tradable Assets: The company provides opportunities to trade in Forex, indices, and commodities, giving traders a variety of options.

3. Demo Account Available: For beginners or those wanting to test the platform, GALACTUS offers a demo account.

4. Flexible Deposit and Withdrawal: Allows for transactions using credit/debit cards and bank transfers.

5. Low Spreads: Offers spreads as low as 0 pips, which can be advantageous for traders.

Cons:

1. Lack of Valid Regulation: GALACTUS is unregulated, and the CyprusCYSEC regulation it claims is suspected to be a clone, which poses significant risks.

2. Negative Reviews: Field surveys have identified negative reviews, indicating potential issues with the broker.

3. Commission Fees: Charges a commission of €2.00 per side which might not be favorable for all traders.

4. Limited Account Types: Only offers a personal account type, which may not cater to the varied needs of different traders.

5. Potential Scam Risks: Due to lack of proper regulation and negative feedback, there's an increased risk of scams associated with this broker.

Market Instruments

GALACTUS offers a suite of market instruments that allows traders to venture into a diversified trading landscape spanning different asset categories. Let's delve deeper into the market instruments provided by GALACTUS:

1. Forex (Foreign Exchange):

1. Currencies: Traders with GALACTUS can immerse themselves in the forex market, taking part in trading actions across major and minor currency pairs. This offers them a chance to leverage the oscillations within the global currency realms.

2. Indices:

1. Market Indicators: GALACTUS provides avenues for traders to engage in the indices market, allowing them to speculate on the price movements of major global market indices and capitalize on the broader market trends.

3. Commodities:

1. Varied Resources: Through GALACTUS, traders can invest in commodities, which might include hard commodities like metals and energy resources, adding depth and diversification to their trading portfolios.

By offering such instruments, GALACTUS ensures that traders have the means to traverse and invest in assorted financial markets, paving the way for multifaceted trading techniques. Nonetheless, it's pivotal to remember that trading in these sectors carries inherent risks, and the high leverage proposition of up to 1:30 by GALACTUS can intensify both potential returns and potential setbacks.

Account Types

GALACTUS presents its traders with a “Personal account” option, though explicit details regarding the attributes and advantages of this account type were not detailed. A personal account in many trading platforms is typically tailored to meet the needs of individual retail traders, affording them entry to a broad spectrum of trading tools and markets.

This could encompass Forex, commodities, and indices. This account may extend various benefits such as integration with a trading platform like MT4, a dedicated customer support channel, and potentially, access to educational content.

How to Open an Account？

Opening an account with a trading platform like GALACTUS usually involves a systematic procedure to ensure both security and compliance. Here's a general 5-step guide to opening an account:

1. Visit the Official Website: Begin by navigating to the official GALACTUS website. Locate and click on the “Sign Up” or “Open Account” button, typically found on the homepage.

2. Complete the Registration Form: Fill out the registration form with your personal details. This might include your full name, email address, phone number, and country of residence. Ensure the information provided is accurate to avoid any complications.

3. Verification Process: Platforms often require proof of identity and residence to comply with regulatory and anti-money laundering measures. Upload clear copies of the necessary documents, such as a passport or ID for identity verification and a utility bill or bank statement for address confirmation.

4. Deposit Funds: Once verified, you can fund your account. Navigate to the deposit section, select your preferred payment method (e.g., credit/debit card, bank transfer), and follow the instructions to initiate the transfer. Ensure you meet the minimum deposit requirement.

5. Access the Trading Platform: After funding, you can access the trading platform, such as MT4 in GALACTUS's case. Familiarize yourself with the interface, explore available tools and resources, and start your trading journey.

Leverage

GALACTUS offers traders a leverage of up to 1:30. In the world of trading, leverage acts as a multiplier, enabling traders to control a larger position with a relatively smaller amount of capital. In GALACTUS's case, with a leverage of 1:30, for every €1 a trader deposits, they can take a position worth up to €30.

While this provides the potential for amplified profits, it's crucial to note that leverage also increases the risk of amplified losses. The high degree of leverage can work both in favor of and against the trader, making it imperative for individuals to exercise caution and fully understand the implications of leveraging before engaging in trades.

Spreads & Commissions

GALACTUS promotes spreads “as low as 0 pips”, though it's unclear if this spread is consistent across all traded assets or if it's limited to specific ones. Spreads, which denote the gap between the buying and selling prices, play a pivotal role in influencing trading expenses.

While a 0-pip spread can be alluring, especially for those trading in the forex market, the exact applicability for other assets remains unspecified.

In addition to spreads, GALACTUS charges a commission of €2.00 per side. It's essential for traders to be aware of both spreads and commissions, as they directly impact profitability.

Due to the lack of complete clarity on spread configurations for diverse assets and the added commission, traders should approach with vigilance and seek detailed information prior to engaging in trades.

Trading Platform

GALACTUS employs the MetaTrader 4 (MT4) platform for its trading operations, a platform recognized for its steadfast performance, intuitive user experience, and comprehensive features tailored for traders of all expertise levels.

MT4 offers a dynamic trading environment, brimming with tools that enhance trading activities across multiple market instruments. On the GALACTUS MT4 platform, traders benefit from sophisticated charting functionalities, an extensive collection of technical analysis indicators, and the option for automated trading via Expert Advisors (EAs).

With support for a spectrum of order types, from market to limit, and even trailing stop orders, the platform empowers traders to execute a broad range of trading tactics efficiently.

Beyond its capabilities, MT4 ensures a secure trading realm, fortified by encrypted data communication, while also providing an adaptable setting where traders can tweak interfaces and configurations to align with their trading preferences.

Deposit & Withdrawal

GALACTUS emphasizes facilitating efficient fund management for its users by furnishing multiple avenues for both deposits and withdrawals. Notably, traders can utilize credit/debit card methods and bank transfers to carry out their financial operations on the platform.

With the threshold for the minimum deposit placed at €250, GALACTUS sets a bar that could be appealing to a diverse group of traders, from neophytes to the more experienced. It's highly recommended for potential and existing clients to delve deeper into the intricacies of the platform's financial policies.

Customer Support

GALACTUS LTD, known as GALACTUS, has designed a robust customer support system for its clientele. Those needing assistance can directly contact them via email at cs@fx88.com. In addition to this, GALACTUS has a significant presence on social media platforms, including but not limited to Twitter, Facebook, Instagram, YouTube, and LinkedIn.

These platforms not only facilitate engagement but also provide insights into the company's operations and updates. Given that the firm is unregulated, it's crucial for potential and current clients to exercise diligence. For a deeper dive into their offerings, the company's official website, https://galactuscap.com/#about, is a valuable resource.

Conclusion

GALACTUS LTD, often known as GALACTUS, prides itself on delivering an efficient and accessible customer support framework. This is evident through their dedicated email contact and a notable presence across multiple social media platforms, offering both engagement and regular updates.

Beyond just customer support, these platforms serve as a window into the company's ethos, operations, and market insights. However, it's imperative for clients and interested parties to tread with caution and conduct thorough research, especially considering the company's unregulated status.

For a more in-depth understanding of their services and offerings, visiting the company's official website is highly recommended.

FAQs

Q: How can I contact GALACTUS's customer support？

A: You can reach GALACTUS's customer support via email at cs@fx88.com. They are also active on several social media platforms such as Twitter, Facebook, and Instagram.

Q: Is GALACTUS regulated？

A: Currently, GALACTUS is not regulated. Prospective and existing clients are advised to exercise caution and conduct thorough research before engaging in transactions.

Q: What trading platform does GALACTUS utilize？

A: GALACTUS employs the MetaTrader 4 (MT4) platform for its trading operations, known for its reliability and comprehensive features suitable for traders of varying expertise.

Q: What is the minimum deposit to start trading with GALACTUS？

A: The minimum deposit requirement to start trading with GALACTUS is set at €250.

Q: What types of assets can I trade on the GALACTUS platform？

A: Traders on GALACTUS can engage in trading activities across various assets, including Forex, indices, and commodities.