Decode Global Limited is a Contract for Difference (CFD) broker officially registered on April 12, 2024. This broker primarily offers users a variety of trading markets through its proprietary trading platform and mobile applications, including Forex, Stocks, Futures, Energy, Precious Metals, Cryptocurrencies, CFDs, and more.
Corporate Registration Information and Regulatory Status:
Public information on the official website of Decode Global Limited indicates that its headquarters is located in New York, USA. Additionally, the broker has registered with the National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN) in the United States and is regulated by them. The NFA ID is 0561418, and the MSB registration number is 31000263262302.
Upon verification, the National Futures Association (NFA) lists the entity with NFA ID 0561418 as SMART GLOBAL, which is registered as a non-member entity and is not regulated by the NFA. Similarly, the official website of the Financial Crimes Enforcement Network (FinCEN) shows that the enterprise with the MSB number 31000263262302 is also SMART GLOBAL. However, FinCEN's primary mission is to combat money laundering and does not regulate normal financial derivatives trading. It also remains uncertain what relationship exists between Decode Global Limited and SMART GLOBAL.
Furthermore, the broker's official website shares almost identical web design and content with the websites of other brokers such as GO Markets, X Charter, Profit Pulse Limited, Capital Group, Webullforex, and EBC.
Account Opening:
To open an account with Decode Global Limited: Visit the broker’s official website, click on “Register” either on the homepage or at the top right corner of the webpage, enter the required details such as name, email address, set a login password, and upload identification and bank card proof. Once the application is submitted, the account registration will be successful.
Trading Account Information:
The official website of Decode Global Limited only reveals information about spreads, trading leverage, margin call/stop out levels, and contract sizes. However, details such as account types, trading commissions, minimum/maximum transaction volumes, maximum positions/orders, and minimum price precision are not disclosed.
- Spreads: Variable spreads
- Trading Leverage: 1:100—1:500
- Margin Call/Stop Out Level: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
The official website of Decode Global Limited claims to offer the MT5 trading platform to its users. However, upon inquiry, it was found that this broker can only link existing accounts on the MT5 platform and cannot open new accounts.
Deposits and Withdrawals:
Decode Global Limited has not clearly disclosed the methods, fees, and minimum amounts for deposits and withdrawals on its official website.
Conclusion:
Traderknows warns investors that Decode Global Limited is a forex scam site with opaque registration and regulatory information and is suspected of false advertising. Users can only contact the broker via email, with very limited contact options. The design and content of its official website use the same template as those of other brokers like GO Markets, X Charter, Profit Pulse Limited, Capital Group, Webullforex, and EBC. Traderknows advises investors to choose brokers that are transparent with information, strongly regulated, and have a good reputation to avoid unnecessary financial losses.
Currently, this broker is flagged as "suspected of scam" on Traderknows.
