Thinking of getting into business with GrandPacificTrade? Here is what you must know about this broker. Carefully read this review to find out if grandpacifictrade.com is the trading platform you will want to trade with.
Table of Contents
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
About GrandPacificTrade Broker
Tradon is an offshore brokerage company with a lot of promises for traders. The address of the broker seems missing on its webpage. To begin with, this is a red flag that has reminded us of similar fraudulent scheme of scam brokers. Sadly, we discover the broker claims to be governed under the laws of Saint Vincent and the Grenadines.
The broker offers different account types such as Basic, Residual Income, Corporate, Institutional and Retirement Plan.
Added, it trades on the following instruments like forex, stocks, commodities, crypto and indices.
To clarify, regardless of the trading instruments GrandPacificTrade claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
grandpacifictrade.com: Reasons to Avoid This Broker
Firstly, grandpacifictrade.com is a platform with no financial authority overseeing its financial services. We have discovered that this broker is not worth your money because Financial Services Authority SVG does not monitor or regulate brokers. Here is an alert from FSA Saint Vincent and Grenadines on any broker claiming its regulation.
Secondly, we noticed grandpacifictrade.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
GrandPacificTrade withdrawal process takes 7 to 10 business days with a minimum withdrawal amount of $100.
Added, for an inactive account of 30 days, the broker charges $99 on each period.
Minimum Deposit
GrandPacificTrade minimum deposit is pegged $250 according to the account type.
As for the payment methods, the broker mentions Credit/ Debit cards, Bank Transfer and Cryptocurrencies. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
GrandPacificTrade Platform
GrandPacificTrade offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, the broker discusses 1:400. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
GrandPacificTrade Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
Instead, Trade with TOP RATED BROKERS
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: Is grandpacifictrade.com a Reliable Broker?
No, grandpacifictrade.com is not a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
We owe our readers the duty to fish out scam forex brokers as well as share reasons to avoid fraudulent schemes. Meanwhile, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.