Overview GFX
GFX Is A Saint Vincent And The Grenadines Based Company Established In 2019. GFX Provides Customer Support Via Email Support@goldfx.co And Phone (+ 855) (0) 23 213 686. However, GFX's Official Website: Https://gfx-i.net/vn/index.html, Is Currently Inaccessible. GFX Is Not Regulated In Any Way, So Investing With This Broker Can Be Very Risky.
Is GFX Legal Or A Scam?
GFX Is Unregulated, Meaning It Is Not Formally Supervised By Financial Regulators.
Lack Of Regulation May Pose A Risk To Customers, As It Means That GFX Is Not Subject To The Strict Standards And Safeguards That Regulated Entities Must Adhere To, Potentially Affecting The Security And Transparency Of Its Operations.
Disadvantages:
Inadequate Regulation: Unregulated Means That GFX Lacks Oversight From Any Financial Regulator, Which May Lead To Issues Related To Transparency, Reliability And Security Of Investments.
Increased Risk: Without Regulatory Compliance, Customers Are Exposed To Higher Risks In Terms Of Safety Of Funds, Fairness Of Transactions, And The Integrity Of The Company's Overall Operations.
Limited Recourse: In The Event Of A Dispute Or Financial Issue, GFX's Clients May Have Limited Legal Recourse Or Protection, As There Is No Regulator To Ensure That Their Claims Are Resolved.
Minimum Deposit
GFX Offers Three Types Of Trading Accounts: Silver (minimum Deposit Of 1,000 Dollars), Titanium (minimum Deposit Of 5,000 Dollars) And Platinum (minimum Deposit Of $25,000). The Minimum Deposit Requirement To Start A Basic Account Is Very High, As Most Legitimate Brokers Require Only $100 Or Even Less.
Leverage
Regarding Trading Leverage, GFX Offers A Maximum Leverage Ratio Of Up To 1:500 For Forex Trading, Which Is Very Generous. However, Since Leverage Can Amplify Gains As Well As Potential Losses, Less Experienced Traders Need To Be Careful When Using It.
Spreads & Commissions
Spreads And Commissions Vary According To The Three Different Trading Accounts. Spreads Start From 2.5 Pips For Silver Accounts And 1.5 Pips For Titanium Accounts, With No Commission Charged. Whereas Platinum Accounts Require A Certain Commission, With Spreads Starting From 0.0 Pips.
Available Trading Platforms
GFX Offers The MetaTrader 4 Trading Platform As Well As Web Traders. As You May Know, MetaTrader 4 Is One Of The Reputable And Popular Trading Platforms Among Brokers. Its Advantages Mainly Lie In The Availability Of Various Trading Tools And Instruments In Order To Facilitate Your Trading. For Example, Economic Calendars, VPS, Trading Signals (with A Paid Subscription), Code Base With Custom Scripts, Demo Accounts, Etc.
Deposits And Withdrawals
The Minimum Deposit Amount Is 1000 Dollars. Withdrawals Are Subject To Payment Of Processing Fees, Which Will Be Deducted From The Transfer Amount. There Are No Fee Fees For Once-a-month Withdrawal Requests, But Any Subsequent Withdrawals Are Subject To Processing Fees. Withdrawal Requests Are Processed Within 2-5 Business Days.
Customer Support
GFX Provides Customer Support Via Email And Phone To Assist Them In Resolving Issues. Customers Can Contact Support@goldfx.co Via Email For Any Questions Or Support Needs.
In Addition, For Those Who Prefer Or Need More Immediate Assistance, GFX Offers Support In Terms Of Telephone Support, Where Customers Can Speak Directly To A Customer Service Representative To Resolve Issues Or Obtain Information At (+ 855) (0) 23 213 686.
Conclusion
In General, GFX, Headquartered In St. Vincent And The Grenadines, Was Established In 2019 Without Regulatory Oversight, Which Poses Certain Risks To Potential Customers.
