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The WikiFX Score of this broker is reduced because of too many complaints!

GWFX

United Kingdom|5-10 years|
MT4 Full License|Regional Brokers|Vanuatu Retail Forex License Revoked|High potential risk|

http://www.gwfxglobal.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
GWFX-Demo MT4
Server Location Hong Kong

Contact

00448002494315
cs@gwfx.com
http://www.gwfxglobal.com/en/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Chinese (Simplified)

00448002494315

Broker Information

More

Company Name

Goldenway Global Investments (UK) Limited

Company Abbreviation

GWFX

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 6
Previous Detection : 2024-05-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 25 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Pyramid scheme complaint
Expose
Others

Risk depositing.

They induced me to deposit. The money I deposited could reach my account two times before. However, at the third time, I failed. I transferred the money, but it didn’t reach my account. The customer service said it was my own problem and I can’t refund.

2019-10-01 10:18
Others

GWFX,with fake regulation,made me suffer great losses

Writing down this article means that I have experienced the obsession of beginning and the bitter hatred now.All these are like a nightmare and I was awake. I still want to record my terrible experience,which as a alarm bell ringing to me and you. I still remembered it clearly,a gorgeous accosted me in momo on 30th,April,2018.After exchanging Wechat number,she told me she works in investment field.When it came to investment,I was vigilant.But she showed me many certification materials to prove that her company was regular.Then she helped me open the account and taught me downloading the MT4 with efforts.I was once gave up halfway,but her insistence made the things slide.I want to warn you that you will got trapped deeper and deeper if you haven’t refuse at first.I also analyze the reason.An appealing proposal is the girl’s warm-hearted offer,the other was because of her lovely look.I’m not proud of it.But different person always have different ways to address.I may suffer a setback on this girl,others may bite other baits,One should learn to refuse at first. After opening the account successfully,I received the account-opening email form the company.And the website looks like regular...

2019-08-29 10:57
Scam

Gold road is either a false k line or a false moving average

In the last two weeks, I lost a lot of money. Many people did not know how to operate it correctly. As a result, I found the place where the gold road was full of people.Go to customer service customer service does not know is what reason to want my account

2019-01-25 22:04
Scam

JinDao gave me wrong investment isntructions to make me lose

After a stranger added me via WeChat, I was recommended by him to open an account, deposit money, and trade on Jindao Global Investment Platform (April 19, 2016, account number: 92032151), during which I have been following the live broadcast (https: //chat.gwfx.hk/)instructor's operating strategy and real-time recommendations, ordering operations for various foreign exchange currency pairs. However, I always have a lot of losses。 The accumulated losses so far is: $71233.39. At the beginning of December 18, I followed the teacher to buy short the USD/CAD (rising point 1.3195 short). After losing, I asked him what I should do. He told me I should keep investing. Then my loss reached more than $20000 and my account was liquidated. A lot of people in that group lost. We asked the teacher, he said we should wait patiently for a turn. In combination with various signs of non-compliance such as platform deposits went to third-party private accounts, I thoroughly recognized the true face of Jindao’s fraud. On December 17, 18, I filed a claim with Jin Dao by mail, but my account was banned then, and they had been delaying me all the time. On December 26, they replied that they would negotiate with me within 3 to 7 days. Later, on January 3, they replied to me that they would negotiated with me within 48 hours, but I have not received a call yet, and there is no new email reply. I have deposits and withdrawals records, transaction history details, and chats with some teachers. Please help me expose this, thanks!

2019-02-20 22:51
Scam

The platform teacher has always induced trading

From 2014 to 2019, I have been trading on the GWFX Investment Platform. The teacher often called out orders in the opposite direction, and the investors eventually ended up with liquidation. This is a scam platform. I lost RMB 450,000 in principal. In 2019 the teacher called out USDX to the downward trend of 100, and I deposit RMB 150,000 until my account was in liquidation.

2021-02-09 23:53
Scam

JinDao is outrageous, saying they are not afraid of police.

JinDao Group damages national security and damages the security of citizens of the country's mainland. Its operation itself is aimed at this. They marked these things on their official website in places that are small and difficult to spot: (1) JinDao International Limited (formerly known as JinDao Group) and the clients of this website do not include the public and Hong Kong residents of the Hong Kong Special Administrative Region. Nor do they open accounts for US citizens. (2) You are not a Hong Kong resident and you are not in the territory of the Hong Kong Special Administrative Region when you visit this website and open an account opening procedure. A company that claims to be a Hong Kong company does not allow people in Hong Kong to open an account. It does not accept Hong Kong people and Americans to open an account. They obviously have the purpose of evading US and Hong Kong legal sanctions, and fraudulently said that their registration is Saint Vincent. We think that Saint Vincent is a place name or an office building in Hong Kong, and they clearly indicate their address on the official website as follows: Address: 28/F, Haiwei Dae, Harbour, Queensway, Kowloon, Hong Kong. Name of Regulatory Authority: Hong Kong Securities and Futures Commission. Who would understand that this is a company whose registration is not in Hong Kong? In fact, they are not regulated by the Hong Kong Securities and Futures Commission. They operate illegally in Hong Kong. They only do not include Hong Kong people and Americans. This circumvents the sanctions of Hong Kong and the United States. They deliberately registered in a place where does not acknowledging that there is only one China in the world and established a diplomatic relation with Taiwan. Its acts of endangering national security, endangering national unity, and defying mainland public security are arrogant. They are brave enough to exploit the laws of mainland China, and use Hong Kong as their office, but register their registration in Saint Vincent. I just started thinking that Saint Vincent is somewhere in Hong Kong. I recently learned that Saint Vincent is a small island country with a population of tens of thousands. He does not recognize that there is only one China in the world and has established diplomatic relations with Taiwan. They work in Hong Kong, swindle the mainland citizens as Hong Kong companies, and illegally absorb huge sums of money. They use their own websites and virtual trading software to let customers trade gold, crude oil, foreign exchange, etc., but the client funds have not really entered the market. Through the traps they created: such giving order instructions in live room, high bonuses, data errors and other means, they collected a large sum of money. JinDao Precious Metals Official Website - https://m.24k.hk JinDao Precious Metals Customer Center, deposit website: https://gts2admin.24k.hk/ JinDao Global Investment Website - www.gwfx.com/ JinDao Global Investment Customer Center deposit website https://gts2admin.gwgfx.co/ QQ customer service: Jindao precious metal 80018282, Jindao Global 80018886, WeChat public account: Jindao precious metal goldenway24k, Jindao Global txjs1206; Customer service WeChat: gihk001, gihk005, Xiaozhuo gwrm02 (Xiao Zhuo often call us to recommend trading bonus activities) Email address: Jindao Precious Metals cs@24k.hk Criminal Judgment (2015) No. 00045 Criminal Judgment of the People's Court of Weidao District, Jinmen City, Hubei Province On the premise of judging the illegal operation of Jindao Precious Metal Co., Ltd. and investigating the criminal responsibility of the parties, Jindao Precious Metals Co., Ltd. continues to develop customers and conduct business in the mainland. Its behavior despised the mainland law, despise the mainland public security, and deceive a large wave of people. I am Dong Jun of Qinghai Province, China, and I ask the public security department to open a case investigation. All of the above are based on evidence, I am willing to bear all legal responsibilities.

2019-02-21 01:09

    GWFX · Company Summary

    Note: GWFX's official site - http://www.gwfxglobal.com/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    GWFX Review Summary
    Company Name Goldenway Global Investments (UK) Limited
    Registered Country/Region United Kingdom
    Regulation FCA (Suspicious Clone), VFSC (Revoked)
    Market Instruments N/A
    Demo Account N/A
    Leverage 1:500
    Spread A Variable Spread of 1.8 pips on EUR/USD
    Commission N/A
    Trading Platform MT4
    Minimum Deposit $200
    Customer Support Tel: 00448002494315, Email: cs@gwfx.com, QQ: 800018886

    What Is GWFX?

    Goldenway Global Investments (UK) Limited, operating as GWFX, is purportedly based in the United Kingdom. Its FCA license is suspected to be a clone, and its license from the Vanuatu Financial Services Commission (VFSC) has been revoked, and its website is no longer functional.

    GWFX

    Pros & Cons

    When evaluating GWFX, there are some significant pros and cons to consider.

    On the positive side, GWFX does support MT4, a popular and versatile trading platform widely accepted by many traders. This feature certainly broadens their appeal to a larger market. Additionally, GWFX offers high leverage up to 1:500, which can offer great potential profits for experienced and risk-taking traders.

    Pros Cons
    • MT4 Supported
    • Suspicious Clone and Revoked Regulatory Licenses
    • High Leverage
    • Dead Website

    However, there are notable negatives to consider as well. First and foremost, their FCA regulatory license appears to be a suspicious clone and VFSC license has been revoked, which raises concerns about the platform's credibility and safety. Moreover, their website seems to be inactive, making it extremely challenging for new users to get started or for existing users to continue their trading experience.

    Ultimately, prospective users must weigh these pros and cons carefully when choosing whether to engage with GWFX.

    Is GWFX Safe or Scam?

    • Regulatory Sight:

    GWFX, operated by Goldenway Global Investments (UK) Limited, claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom. However, its current regulatory status is listed as a “Suspicious Clone”. The license type is noted as “Straight Through Processing (STP)” with license number 185223.

    suspicious clone FCA license

    Additionally, GWFX holds a retail forex license regulated by the Vanuatu Financial Services Commission (VFSC), but its regulatory status is marked as “Revoked,” and the license number is 14864.

    revoked VFSC license
    • Issues Reported:

    Users experiencing adverse order recommendations from the platform's teacher, leading to significant losses in their trading accounts.

    Complaints about the inability to withdraw funds from the platform, with users encountering difficulties in accessing their money.

    Allegations of fraudulent behavior, including inducing deposits,providing false investment instructions, and manipulating accounts to freeze them when profits are earned.

    Concerns about the platform's legitimacy and regulatory status, with users questioning the validity of its operations and regulatory claims.

    Reports of severe slippage in trade executions, with users observing significant price differences between their intended trade prices and the executed prices.

    Complaints about the platform's customer service, including unresponsiveness and unhelpfulness in resolving issues related to deposits, withdrawals, and account management.

    User Exposure on WikiFX
    • Security Measures: So far we haven't found any information about the security measures for this broker.

    Account Types

    Standard Account:

    Minimum Initial Deposit: $200

    Designed for retail traders and individual investors.

    Provides standard trading conditions and features suitable for traders with smaller capital.

    VIP Account:

    Minimum Initial Deposit: $50,000

    Targeted towards institutional clients and high-net-worth individuals.

    Offers enhanced trading conditions, personalized services, and premium features tailored to meet the needs of sophisticated investors with larger capital.

    Leverage

    GWFX offers a maximum leverage of 1:500 to its traders. This high leverage enables traders to amplify their trading positions significantly with a relatively small amount of capital, potentially increasing both profits and losses. It provides traders with the flexibility to control larger positions in the market compared to their initial investment. However, it also increases the risk of significant losses if trades move against the trader's expectations.

    Spread

    GWFX offers trading in 18 currency pairs, with a typical variable spread of 1.8 pips on EUR/USD. This spread is considered comparatively high for the forex market. A spread of 1.8 pips means that traders buying EUR/USD would incur an additional cost of 1.8 pips above the market price when entering a trade, and those selling EUR/USD would receive 1.8 pips less than the market price. Higher spreads can potentially impact trading profitability, as traders need to overcome this cost before realizing profits on their trades.

    Trading Platform

    GWFX supports the MetaTrader 4 (MT4) trading platform. MT4 is a widely used and popular trading platform known for its user-friendly interface, advanced charting tools, customizable indicators, and automated trading capabilities through Expert Advisors (EAs). With MT4, traders can access a wide range of financial instruments, execute trades with ease, analyze market trends, and implement various trading strategies.

    MT4

    Customer Support

    GWFX offers customer support through multiple channels to assist traders with their queries and concerns. They provide a telephone helpline with the number 00448002494315, allowing traders to directly contact support representatives for assistance. Additionally, traders can reach out to GWFX via email at cs@gwfx.com for more detailed inquiries or assistance. Moreover, they offer support through QQ with the ID 800018886, providing an alternative communication method for traders who prefer instant messaging platforms.

    Conclusion

    GWFX is a broker with suspicious cloned and revoked regulatory licenses, with a dead official website. Though the leverage provided is high and it does support MT4, we do not recommend users to trade with this broker.

    Frequently Asked Questions (FAQs)

    Q: Is GWFX regulated or not?

    A: Yes, it is regulated, however, with suspicious cloned and revoked licenses.

    Q: What is the minimum deposit it requires?

    A: The minimum deposit it requires is $200.

    Q: What is the maximum leverage it can provide?

    A: The maximum leverage it can provide is 1:500.

    Q: Does it support MT4/5?

    A: Yes, it does support MT4.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

    User Reviews

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    4

    Comments

    Write a review

    FX1660127513
    more than one year
    Trading was going well and then when I went to check my shares today it was all sold, not by me, and all the money I deposited was gone.
    2024-03-28 10:20
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    0
    0
    FX1583526247
    more than one year
    GWFX has been a major letdown for me. The platform has been down for an extended period, and my funds are still nowhere to be seen. On top of that, I'm facing login restrictions. I strongly advise caution when considering this forex broker – the current situation is truly discouraging.
    2024-01-01 23:04
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    0
    0
    凡1688
    more than one year
    When I first started trading with GWFX, everything seemed fine and dandy. The platform was stable, and the trading environment was pretty chill. But as time went on, I started noticing that the spreads were getting wider and wider. They blamed it on the volatile market conditions, but it was still a bummer. And don't even get me started on the login issues - it seemed like my account was always having problems. Overall, my experience with GWFX went from good to bad pretty quickly.
    2023-03-28 10:44
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    0
    0
    FX1334588814
    more than one year
    GWFX is not a sincere broker, I hate to say this. Spreads are involved with much manipulation, and it was not the fault of the market at all. I came to realize that they want you to lose money.
    2023-03-07 12:24
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