Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighLicence 005 is genuine and confirmed on SERC's own register, which caps this dimension, but it is a Central Counterparty authorisation that does not cover retail broking, and the entity taking international client money held no licence anywhere.
Identity & transparency
6/10 · HighReal named entity with a register-matching Phnom Penh address, phone and email, offset by a non-existent New York head office on the retail site, a Hong Kong phone, and the money-taking company sitting in a separate offshore jurisdiction.
Withdrawals & conduct
3/10 · LowOne isolated two-star report of profits not being withdrawable, with no amounts or dates and a fund-recovery referral attached, so it fails the pattern test on every axis and is discounted rather than counted.
Reputation
6/10 · HighNot a reputation of complaints but a reputation vacuum: one user review exists anywhere online, there is no Trustpilot page for the domain, and independent reviewers rated it around two out of five while flagging the regulation as not covering retail broking.
Website claims
7/10 · HighA clearing-house licence number was presented as the regulation behind retail CFD accounts, the published head office does not exist, and a company registration was placed beside a regulator's name; age claims, by contrast, were accurate.
Operational history
3/10 · LowRoughly seven years of verified operation from a 2017 domain and a 2019 Cambodian company, with continuous archived content into 2026 and no age misrepresentation, tempered by the recent abandonment of both websites.
Who they are
A quick desk file on the company behind the brand.
- Brand: GLX, trading as Global Liquidity Exchange.
- Legal entity (the licensed one): Global Liquidity Exchange Co., Ltd., Cambodia, Ministry of Commerce registration 00037736.
- Legal entity (the offshore one): Global Liquidity Exchange Limited, Saint Vincent and the Grenadines, business company 25664 IBC 2019.
- Registered: 2nd floor, Building 87, Preah Sihanouk Boulevard, Phum 7, Sangkat Chaktomuk, Khan Daun Penh, Phnom Penh, Cambodia.
- Website: glexchange.com.kh (the address recorded on the regulator's register) and glexchange.com (the retail site). Neither serves a page today.
- Only licence: SERC Cambodia licence 005, a Central Counterparty authorisation, held by the Cambodian company.
- Offered: MetaTrader 4 and 5, CFDs on roughly 60 currency pairs plus indices, metals, energy, shares and crypto, leverage advertised up to 1:1000, 200 USD minimum deposit, cards, bank wire, Thai internet banking, Neteller, Skrill and Perfect Money.
- Not accepted: United States residents, per the site's own distribution disclaimer.
- Age: main domain registered August 2017, Cambodian company registered in 2019, site content archived through April 2026.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Securities and Exchange Regulator of Cambodia (SERC)
Registrar of International Business Companies / Financial Services Authority of Saint Vincent and the Grenadines
Why we reached this verdict
How the evidence adds up.
Three findings decide this. The licence is genuine, it does not cover retail trading, and the business has given up both of its websites.
- The licence is real and correctly identified. SERC, Cambodia's securities regulator, lists Global Liquidity Exchange Co., Ltd on its register of licensed intermediaries with licence 005, at the Phnom Penh address, telephone and email the company published on its own site. Name, number, address and website all line up. This is not a clone, and the number is not invented.
- But it is a clearing licence, not a broker licence. SERC lists the company under Central Counterparty. It does not appear under Derivative Broker, where Cambodia's actual retail brokers sit. A central counterparty clears and settles trades between member brokers. It is not permission to take deposits from retail traders and operate their accounts, which is exactly what the retail site sold.
- The company that took international client money held no licence at all. The site's own footer names Global Liquidity Exchange Limited, a Saint Vincent and the Grenadines business company numbered 25664 IBC 2019, as a separate entity from the Cambodian licence holder. The Financial Services Authority there does not license or supervise forex and CFD business, and says so publicly. So the entity holding the money was supervised by nobody, while the regulatory wording on the page pointed at Cambodia.
- The head office on the retail site was not a real place. It published 1010 Avenue of the Moon, New York, NY 10018 beside a Hong Kong telephone number, on a Cambodian company's website. There is no Avenue of the Moon in New York; that line ships as filler inside commercial website templates.
- Nobody can deal with this firm now. glexchange.com redirects to a domain sale listing and moved to marketplace nameservers on 2 October 2026. glexchange.com.kh still resolves but serves no page, and that is the website the regulator's own register prints for the licensed company.
- What we did not find matters just as much. IOSCO I-SCAN, which carries the alert lists of more than 150 securities regulators, returns no warning for the brand or the domain, and we found no enforcement action and no court record naming either company. We also found almost no clients: one user review exists anywhere online, rated two stars, and it closes by recommending a fund recovery service, which is the signature of a planted review rather than a genuine complaint.
- So we assess the risk as high without alleging theft. There is real misrepresentation here, documented from the regulator's register and the company's own pages. There is no established pattern of people losing money, and that is why this is not a scam verdict.
Evidence ledger
Every finding, with its source and how strongly it points.
E1SERC's register of licensed intermediaries lists Global Liquidity Exchange Co., Ltd with licence 005, the Phnom Penh office at Building 87 Preah Sihanouk Boulevard, telephone 023 980 980, email info@glexchange.com.kh and website www.glexchange.com.kh. Name, number, address, phone and website all match the company's own published details, so the licence genuinely belongs to this operation.
E2On the same register the company appears only under Central Counterparty. It is absent from the Derivative Broker list, which is where Cambodia's retail brokers are recorded, and absent from every other category. The licence therefore permits clearing and settlement between member brokers, not the taking of retail deposits or the operation of client trading accounts.
E3The retail site's header gave the company's address as 1010 Avenue of the Moon, New York, NY 10018, alongside a Hong Kong telephone number. There is no Avenue of the Moon in New York; the line is placeholder text distributed with commercial website templates, so the head office shown to depositing clients was fictitious.
E4The same page's footer names two separate companies: Global Liquidity Exchange Limited, incorporated under number 25664 IBC 2019 by the Registrar of International Business Companies in Saint Vincent and the Grenadines, and Global Liquidity Exchange Company Limited, registered in Cambodia as Central Counterparty number 00037736 under SERC licence 005. The Cambodian licence is the only regulatory credential shown, and it belongs to the entity that is not contracting with international clients.
E5The dedicated regulation page marketed SERC compliance, segregated client funds held with top tier banking institutions, external audits and anti-money-laundering procedures to retail traders. Nowhere does it disclose that the licence being relied on is a clearing-house authorisation rather than a permission to run retail trading accounts.
E6An independent broker review dated 9 March 2021 identifies Global Liquidity Exchange Limited of Saint Vincent and the Grenadines as the company that owns and operates the broker, with the Cambodian licensed company serving domestic clients, and quotes terms stating the firm is not liable for any removal of profit arising from its own typing or feed errors.
E7A single user review of www.glexchange.com, rated two out of five and posted roughly two years earlier, states that profits were visible in the account but could not be withdrawn and that further deposits were demanded. It carries no amounts, dates or reference numbers and closes by recommending a named fund recovery service, which is the pattern of a planted review, so we discount rather than count it.
E8The registry record for glexchange.com shows registration on 21 August 2017, a record last changed on 2 October 2026, and nameservers moved to a domain marketplace. The domain has been released to the aftermarket after nine years in the broker's hands.
E9The retail domain glexchange.com no longer serves the broker. It redirects to a commercial listing offering the domain name for sale, so there is no live site through which an existing client could reach an account or request a withdrawal.
E10The corporate domain glexchange.com.kh, which is the website recorded for the licensed company on SERC's register, still resolves in DNS to 103.166.94.79 but the server behind it returns no web page. The licensed entity's own published site is therefore unreachable while its register entry remains live.
E11The Cambodian corporate site, archived on 19 April 2026, printed Ministry of Commerce registration number 00037736 and SERC licence number 005 with the same Khmer licence suffix that appears on the regulator's register, the Phnom Penh registered office, telephone +855 23 980 980 and compliance and support contact addresses. The company's self-description matched the register in every checkable detail.
E12A search of IOSCO I-SCAN, which aggregates the warning and alert lists of more than 150 securities regulators, returns no warnings matching the domain glexchange or the phrase liquidity exchange. No member regulator has published an alert naming this operation.
E13The full CySEC list of authorised Cyprus investment firms, current as of 4 May 2026, contains no company named Global Liquidity Exchange and no licence numbered 6042/11. Cyprus licence numbers on that list take a three-digit form such as 435/23. The Cyprus licence held on our own broker page is unsupported, and the broker itself never claimed one.
E14The domain glexport.com, sometimes given as this broker's main website, was registered on 4 June 2026 through a domain reseller and is offered for sale. It postdates the broker's operating period, has never carried its content, and is not connected to this company.
The other side
The strongest case in this broker’s favour.
The case for GLX being a legitimate business, stated as strongly as the evidence allows.
- The licence is not a fake. It sits on a government register under the company's exact legal name, with matching address, telephone, email and website. Most of the brokers we investigate cannot survive that test.
- A Central Counterparty licence is a serious authorisation, not a cheap offshore certificate. Cambodia's derivatives framework requires brokers to clear through a licensed central counterparty, and the capital and reporting demands on that role exceed those on a broker licence. The Cambodian side of this business may well have been exactly what it said it was.
- The footer did disclose both companies. It describes the Saint Vincent entity as incorporated and registered, names the Registrar of International Business Companies, and stops short of claiming it is regulated. That is more candid than the usual version of this structure.
- No regulator anywhere has published a warning about it, and no court record names it. For an operation running from 2019 into 2026, that absence carries weight.
- The age claims hold up. Nothing on the site advertised a history longer than the domain and company records support, so there is no age misrepresentation to score against it.
- The single complaint we found is weak evidence. It carries no amounts, dates or ticket numbers, and it advertises a recovery service, so a careful reader should discount it rather than count it.
- A business closing is not a business stealing. Content thinning out from 2023, a corporate site alive into April 2026, and the domains finally released in October 2026 reads more like a firm winding down than one running off with deposits.
What would change this
What we would need to see to revise the verdict.
Specific, checkable things that would move this verdict in either direction.
- Toward a scam verdict: any regulator adding glexchange.com or either company to a warning list.
- Toward a scam verdict: three or more former clients describing the same blocked withdrawal with amounts and dates, or any demand for a tax, fee or further deposit before funds are released. One credible report of that last kind would change the verdict on its own.
- Toward a scam verdict: the brand reappearing under a new name on the same infrastructure, or the same directors launching a new deposit-taking site.
- Toward a lower risk rating: SERC adding Global Liquidity Exchange Co., Ltd to its Derivative Broker list, which would make the retail business authorised rather than out of scope.
- Toward a lower risk rating: a published solvent wind-down notice with evidence that client balances were returned, or glexchange.com.kh returning with a working client area and the Cambodian licensed entity as the contracting party.
- Either way: the Cambodian Ministry of Commerce file for registration 00037736 would settle the incorporation date and the company's current status, firming up our read of the operating history.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
SERC Cambodia register of licensed intermediaries
Open the Central Counterparty section to see Global Liquidity Exchange Co., Ltd and licence 005; the Derivative Broker section shows who may run retail accounts.
IOSCO I-SCAN global warning search
Searches the alert lists of more than 150 securities regulators; it returns no warning for this operation.
CySEC register of Cyprus investment firms
The complete Cyprus list; neither this company nor licence number 6042/11 appears on it.
Frequently asked questions
Quick answers about this broker’s safety.
Is GLX a scam?
Not on the evidence available. GLX holds a genuine Cambodian government licence, and no regulator anywhere has warned about it. We still rate it 56% high risk, because the licence is a clearing-house authorisation that does not cover the retail trading accounts it sold, the company holding international client money was an unlicensed Saint Vincent shell, and both of its websites are now offline.
Is GLX a fraud?
We found no evidence of fraud. There is no regulator warning, no enforcement action and no fraud-related court record naming Global Liquidity Exchange Co., Ltd or Global Liquidity Exchange Limited. What we did document is misrepresentation of what its licence permits, which is serious but is not the same thing.
Is GLX regulated?
Partly. Global Liquidity Exchange Co., Ltd appears on the register of the Securities and Exchange Regulator of Cambodia with licence 005. That licence authorises it as a Central Counterparty, meaning a clearing house for member brokers. It is not a retail broker licence, and SERC does not list the company among Cambodia's Derivative Brokers.
What is a Central Counterparty licence and why does it matter here?
A central counterparty sits between brokers and clears and settles their trades. It is a market-infrastructure role, not a client-facing one. It carries no permission to take deposits from retail traders or operate their accounts. GLX advertised that licence number on a site selling exactly those accounts, which is the central problem.
Can I withdraw my money from GLX?
There is no working website through which to try. glexchange.com redirects to a domain sale page and glexchange.com.kh serves nothing. If you hold a balance, contact the Cambodian company in writing at the registered office on SERC's register, keep all records, and complain to SERC, which licensed it.
Is my money safe with GLX?
No, treat it as at risk. Cambodia operates no investor compensation scheme, the licence GLX held does not cover holding retail client funds, and if your contract was with the Saint Vincent entity then no regulator supervises the company at all. There is no safety net behind either arrangement.
Who owns GLX?
Two companies share the brand. Global Liquidity Exchange Co., Ltd is the Cambodian licence holder, registered with the Ministry of Commerce under number 00037736 and based in Phnom Penh. Global Liquidity Exchange Limited is a Saint Vincent and the Grenadines business company, number 25664 IBC 2019, and the site's own footer identifies it as the entity behind the international retail service.
How old is GLX?
The main domain glexchange.com was registered in August 2017 and the Cambodian company dates from 2019, so the operation ran for roughly seven years. Archived pages show live content from 2019 through to April 2026. It did not advertise a longer history than the records support.
Is GLX a clone of another broker?
No. On SERC's register, the licence number, the company name, the registered address, the telephone number and the website all match the same company. The credentials on the site belong to GLX itself, not to some other firm it was impersonating.
Is the GLX website still working?
No. glexchange.com redirects to a domain sale listing and its registration record moved to domain-marketplace nameservers on 2 October 2026. glexchange.com.kh, the site printed on the regulator's register, still resolves to an address but no longer returns a page.
Has any regulator warned about GLX?
No. A search of IOSCO I-SCAN, which aggregates the warning and alert lists of more than 150 securities regulators including the FCA, ASIC, the CFTC and the Hong Kong SFC, returns no entry for the brand or the domain. Absence from those lists does not prove safety, but it still counts.
What is the Saint Vincent registration actually worth?
Nothing, as regulation. Number 25664 IBC 2019 is a company registration from the Registrar of International Business Companies, not a financial licence. The Financial Services Authority of Saint Vincent and the Grenadines does not license or supervise forex and CFD business and has publicly stated that forex activity by companies registered there is unregulated by it.
What should I check before depositing with a broker like this?
Three things. Find the licence on the regulator's own register, not on the broker's website. Check the category of the licence, because a clearing, advisory or company registration is not a trading permission. Then confirm that the company named in the terms you sign is the same company that holds the licence; here it was not.
What we recommend
The practical takeaway from everything above.
What to do depends on whether you already have money with this firm.
- Do not open an account or send a deposit. In practice there is nothing to open an account with: both websites are down and the main domain is for sale.
- If you hold a balance, write to the Cambodian company at the registered office shown on SERC's register and to its published compliance address, and keep every statement, transfer receipt and chat log.
- Complain to the regulator that actually licensed it. SERC in Phnom Penh supervises Global Liquidity Exchange Co., Ltd under licence 005 and is the right body to tell. Be aware that if your contract was with the Saint Vincent company, no regulator supervises that entity.
- If you paid by card, ask your bank about a chargeback and give it the exact dates and amounts.
- Ignore anyone offering to recover your funds for a fee. Recovery operations target people who have already lost money, and one of the very few reviews of this broker ends with exactly that kind of referral.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 10, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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