FxGlory Review

FXGlory is an offshore forex broker that has been around since 2011 and is registered in Saint Lucia, with its headquarters located in Tbilisi, Georgia. They have a pretty straightforward pitch, being: fixed spreads and swap-free on all accounts, zero commissions and very high leverage (albeit tiered, the higher the account, the lower the leverage).

A big point that will interest US traders is that FXGlory does accept U.S. clients, which not many offshore brokers do Opening an account is straightforward and lightweight. You sign up, verify your phone, and complete the usual KYC by uploading a government ID and proof of address. You don't need to provide the endless details that you need to provide with some other brokers. The client area is easy to use and makes it clear how to manage your account.

Deposits are free on the broker's side and can be made via SticPay or a choice of crypto (Bitcoin, Litecoin, USDT on ERC20 and TRC20, Dogecoin, Bitcoin Cash, Dash, Ripple, Tron). A nice feature is that if you deposit more than $2,000 in crypto, you get a small discount of 5% (so an additional 5% on your deposit). Withdrawals work with cards, PayPal, SticPay, and the same cryptos. It I worth noting however that the withdrawal fees are on the high side - about 9% for PayPal, 5% for cards, 3% for SticPay and 0 - 5% plus $20 for certain crypto networks. There's also a 50% deposit bonus up to $2,000, but like most bonuses it can't be withdrawn and comes with conditions.

FXGlory has a typical three-account offering for low, medium and high deposit options. All three account types are swap-free by default, use fixed spreads and have no commissions. Leverage starts high for small balances and steps down as your equity grows:

• Standard: minimum deposit $1, leverage up to 1:3000 for small balances, fixed spreads from 2.0 pips, up to 20 open positions.
• Premium: minimum deposit $1,000, leverage up to 1:2000, fixed spreads from 1.5 pips, up to 100 open positions.
• VIP: minimum deposit $5,000, leverage up to 1:400, fixed spreads from 0.7 pips, up to 200 open positions.

As mentioned, the leverage scales depending on your account size: roughly 1:3000 for $1–$999, 1:2000 for $1,000–$1,999, 1:1000 for $2,000–$2,999, then stepping down to 1:200 between $10,000–$29,999 and 1:100 above $30,000. If you keep a larger balance, you can qualify for a free VPS: Standard VPS at $1,000, Premium at $2,500, and VIP at $5,000, with more RAM/CPU/storage at each level.

You can trade on MT4 or MT5 (desktop, web, and mobile) or try the FXGlory's own proprietary platform GloryTrader on desktop and mobile. The available trading product list is a bit on the thin side but covers the basics: 44 forex pairs, 7 metals, 6 crypto pairs and oil. Because spreads are fixed and there are no commissions, your costs are fairly predictable - which is good if you like to plan your fees in advance rather than deal with floating spreads.

There are a few downsides to bear in mind though. FXGlory does allow scalping but has quite strict rules around it, so traders with very short-term strategies should first check their terms related to scalping first. Educational content is limited. They do not offer negative balance protection, so with high leverage you need to be careful to avoid losses bigger than your balance, especially when the market gaps. And even though deposits are free, the withdrawal fees can add up if you cash out often or do so in small amounts.

Lastly, a point worth noting is that FXGlory uses a Market Maker model, which some traders may appreciate for its simplicity and predictable costs, while others may prefer the transparency of true STP or ECN execution. Overall, FXGlory offers a simple, no-frills setup: high leverage (with a clear scale), fixed spreads, zero commissions, swap-free accounts and a decent range of platforms. It also accepts U.S. clients, which is a big drawcard. If you prefer predictable pricing and easy onboarding on MT4/MT5 or a basic proprietary platform, they are worth considering as a practical offshore broker - just be mindful of their scalping rules, the lack of negative balance protection and the withdrawal fees.