Grandefex Trading (grandefx.com) is a Forex brokerage that claims to be registered under Dominican Republic. In the review below, we take an in-depth look at the feat Grandefex Trading allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made the grandefx.com pro to determine whether it is safe enough to trade with or if it is just one gigantic scam.
Table of Contents
Grandefex Trading Platform
The site doesn’t broker support neither the MT4 nor the MT5 trading platform. They use a web based platform to offer assets such as Forex (with leverages up to 1:100) CFDs, Indices, Stocks, and Precious metals
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This broker offers these additional features as reasons to choose them above the others
Safe & Secure
Wallet
Experts Support
Well Trained Analysts
Grandefex Trading 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 this broker has four account types namely:
GOLD PLAN
10% daily
Minimum Deposit: $100
Maximum Deposit: $500
DIAMOND PLAN
25% daily
Minimun Deposit: $600
Maximum Deposit: $1500
RUBY PLAN
40% daily
Minimun Deposit: $2000
Maximum Deposit: $5000
ROYAL PLAN
60% daily
Minimun Deposit: $6000
Maximum Deposit: $10,000
All their accounts have enhanced financial security and instant cash out.
Grandefx 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 supports Visa, MasterCard for transactions. They don’t support e-wallets such as Skrill or Neteller are not available.
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 in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is Grandefex Trading 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.
This broker claims to be owned by Soleil Rouge Inc.
They don’t give any regulatory body that this company is registered under. So in order to ascertain if this broker was licensed, we had to check several regulatory bodies. We checked the FCA in 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.
So, no, this broker is not a licensed broker
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Accounts
Free Trial
Projects
SSL
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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
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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
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 grandefx.com as they don’t give any information concerning if they are a regulated broker.
Grandefex.com 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.