GFX is a forex broker that is located in the Saint Vincent and the Grenadines. In the review below, we take an in-depth look at the features Gfx-i.net allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about GFX Forex broker.
Table of Contents
GFX Trading Platform
The website that GFX International provides looks professional and well-designed. This brokerage claims that it supports the MT4 trading platform and the offer assets such as Forex (with leverages up to 1:500) CFDs, Indices, Stocks, and Precious metals
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The company page claims that GFX is a financial services company registered in 2017, and was built with the aim of providing investors with a safe environment to trade.
But a quick look at a domain registry shows that Gfx-i.net was created on the 31st of January, 2019 and is going to expire in 2021
GFX International Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that GForex International has three account types
GFX Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
This broker claims that it supports the following payment options paytrust, and fasapay and bank transfers.
This broker claims not to have any withdrawal fees but after going through the legal documentation we found the claims to be false.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is GFX Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
GFX claims to be registered in Saint Vincent and the Grenadines under license number 25580 BC 2019. The Company’s legal and correspondence address is at Griffith Corporate Centre, Kingstown, St. Vincent and the Grenadines.
St Vincent and the Grenadines is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with Gfx-i.net as they don’t give any information concerning if they are a regulated broker.
Gfx-i.net is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.