Gfxcrypto Forex broker is another broker that plays fast and loose as regards to the information it provides. That is, with the little information it provides. In the review below, we take an in-depth look at the features Gfxcrypto.com allegedly offers. This review basically answer the questions: is Gfx crypto legit? Is Gfxcrypto reliable? 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 crypto Forex broker.
Table of Contents
Gfxcrypto Trading Platform
At first glance we discover that this broker doesn’t broker support neither the MT4 nor the MT5 trading platform. They use a web-based platform to offer assets such as Forex CFDs, Cryptos.
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
Gfxcrypto 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 how a broker might work.
After checking, we discovered that this broker doesn’t give any information on its account type.
Gfx crypto 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 not to have any withdrawal fees.
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 to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Gfxcrypto Licensed?
Licensing is another important part because we can trust a regulated broker 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 regulates said brokerage.
Although this broker doesn’t give much information about itself. It does give the name of the company behind it. Gfxcrypto is the trading name of GFXFinance. And GfX Finance belongs to CAPITAL LETTER GMBH.
We find this interesting because the same company GfXroyal. GfXroyal is a forex broker which received official warnings from financial regulators such as the Austrian FMA, the Italian CONSOB, the Belgian FSMA and the Spanish CNMV.
It is safe to say that Gfxcrypto is not licensed but just to be sure, we checked.
In checking the license status of this broker, we had to check several regulatory bodies. We checked the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others. At the end of our search, we didn’t find any licensing information concerning this broker.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on ForexBirds, FTG Markets, Capital GMA.
Trade with TOP RATED BROKERS Instead
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
In fact checking this broker, we found that many of its claims were false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we lead to loss of your funds.