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GQFX

Belize|5-10 years|
White label MT4|Regional Brokers|High potential risk|

https://www.gq-capital.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
GQCapital-Demo MT4
Server Location China

Contact

1-800-839-3105
support@gqfx.com
https://www.gq-capital.com/

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

1-800-839-3105

Broker Information

More

Company Name

GQ Capital Inc

Company Abbreviation

GQFX

Platform registered country and region

Belize

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 5
Previous Detection : 2024-06-13
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The BelizeFSC regulation (license number: IFSC/60/445/TS/19) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The BahamasSCB regulation (license number: SIA-F206) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Belize FSC regulation with license number: IFSC/60/445/TS/19 is an offshore regulation. Please be aware of the risk!
  • The Bahamas SCB regulation with license number: SIA-F206 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

GQFX · WikiFX Survey

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GQFX · Company Summary

Aspect Information
Registered Country/ Area Belize
Founded Year 2-5 years
Company Name GQ Capital Inc
Regulation Suspicious Clone, Belize Financial Services Commission (BelizeFSC), Securities Commission of The Bahamas (BahamasSCB)
Minimum Deposit Not specified
Maximum Leverage 1:100
Spreads Varying spreads for different currency pairs and commodities
Trading Platforms MT4/5 White Label, Mobile Apps (iOS and Android)
Tradable Assets Chinese market only
Account Types Live Account, Demo Account
Demo Account Available
Islamic Account Not mentioned
Customer Support Email: support@gqfx.com
Payment Methods Bank Wire Transfer, Credit Card, PayPal, Union Pay
Educational Tools Not mentioned

Overview of GQFX

GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB). However, the validity of these claimed regulations is suspected, and the regulatory status of GQFX is classified as a “Suspicious Clone.” The broker lacks valid regulation, raising concerns about its legitimacy and reliability.

GQFX specializes in forex brokerage, offering access to execution through various banks and liquidity providers. They emphasize narrow pricing and strive to provide the lowest cost for forex trading. However, specific details about the features and trading conditions of their accounts are not provided. They offer two types of accounts: live accounts for real-time trading and demo accounts for practice trading without risking real funds.

GQFX offers a maximum leverage ratio of 1:100, which is considered average compared to other brokers. The spreads offered by GQFX for major currency pairs appear to be on the higher side when compared to industry standards. They provide multiple trading platforms, including MT4 for various devices, offering user-friendly interfaces and trading tools. Customer support services are available through email, but further details about the responsiveness or availability of support are not provided.

basic-info

Pros and Cons

GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB). However, it has been determined that these claimed regulations are suspected to be clones or invalid. The regulatory status of GQFX is currently classified as “Suspicious Clone,” indicating that it lacks valid regulation. This raises concerns about the legitimacy and reliability of the broker. GQFX offers two types of accounts: live accounts and demo accounts. It provides a range of trading platforms, including MT4 for various devices and operating systems. While GQFX offers multiple deposit options, the spreads for major currency pairs appear to be on the higher side compared to industry standards. Customer support details are limited, and the quality and responsiveness of their support services cannot be assessed based on the available information. Overall, the suspicious regulatory status and limited information about customer support are factors to consider when evaluating GQFX as a potential broker.

Pros Cons
Offers leverage ratio of 1:100 Suspicious regulatory status
User-friendly trading platforms Limited information on customer support
Access to execution through various banks and liquidity providers Higher spreads for major currency pairs
Provides MT4 for Windows, Mac, and mobile devices Limited details on account features and trading conditions
Offers multiple deposit options Limited transparency on company information
Provides demo accounts for practice trading Limited regulatory oversight
Range of market instruments available Limited information on withdrawal process
Offers email support for inquiries Limited transparency on company licenses

Is GQFX Legit?

GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), respectively. However, it has been determined that these claimed regulations are suspected to be clones or invalid.

The BelizeFSC regulation license number provided by GQFX is IFSC/60/445/TS/19, while the BahamasSCB regulation license number is SIA-F206. It should be noted that both of these regulations are offshore regulations.

The regulatory status of GQFX is currently classified as “Suspicious Clone,” indicating that it lacks valid regulation. This raises concerns about the legitimacy and reliability of the broker.

GQ Capital Inc., the licensed institution associated with GQFX, is located at No. 5 Cork Street, Belize City, Belize, C.A., with an email address of info@gqfx.com and a phone number of 501-223-6910.

GQ Capital Markets Limited, the licensed institution associated with GQFX, is located at 208 Church Street, Sandyport, Nassau, Bahamas. However, the phone number and website information for this institution are not provided.

regulation
regulation

Market Instruments

FOREX Trading: GQFX specializes in forex brokerage, offering access to execution through various banks and liquidity providers. They emphasize narrow pricing and strive to provide the lowest cost for forex trading. The company continually works to improve their system for traders, aiming to deliver a trusted trading framework.

Pros and Cons

Pros Cons
Specializes in forex brokerage Limited information on specific pricing and cost details
Offers access to execution through banks No information on advanced trading tools or features
Limited transparency on system improvements

Account Types

GQFX offers two types of accounts: live accounts and demo accounts. Live accounts are used for real-time trading with real money, while demo accounts allow users to practice trading without risking real funds. Specific details about the features and trading conditions of the accounts are not provided.

How to Open an Account

To open an account with GQFX, follow these steps:

  1. Visit the GQFX website and click on the “Open Account” button.

open-account

2. Fill in your email address and phone number.

3. Check your email inbox for a verification code.

4. Enter the verification code provided in the designated field.

5. After entering the verification code, you will be directed to the login page.

open-account

6. Set up a nickname for your account. Please note that the nickname should consist of half-horn characters.

7. Enter a valid nickname that meets the requirements.

8. Set a password for your account. The password strength will be indicated as weak, normal, or strong based on the complexity of the password.

9. Confirm your password by re-entering it in the designated field.

open-account

By completing these steps, you will have successfully opened an account with GQFX.

Leverage

GQFX offers a maximum leverage ratio of 1:100 on their trading platform. This leverage ratio is considered to be within the average range compared to other brokers. It's worth noting that professional traders may find this leverage ratio to be suitable for their trading strategies and risk management practices.

Spreads

The spreads offered by GQFX are mentioned on their website, providing specific details for various currency pairs and commodities. The spread on EUR/USD is approximately 2 pips, EUR/GBP around 2.3 pips, GBP/JPY around 3.3 pips, GBP/USD around 2.4 pips, XAUUSD around 0.5 pips, and XAGUSD around 0.044 pips.

It's worth noting that when compared to industry standards, the spreads offered by GQFX for major currency pairs appear to be on the higher side.

spreads

Deposit & Withdraw

DEPOSIT OPTIONS:

GQFX offers several ways to deposit funds into your account. These options include Bank Wire Transfer for both domestic and international transactions, Credit Card payments using Visa and MasterCard, PayPal, and Union Pay. It is important to note that a minimum deposit of US$100.00 or its equivalent is required to initiate trading with GQFX.

WITHDRAWAL PROCESS:

To withdraw funds from your GQFX account, you need to fill out a Withdrawal form available in the Client Area. The processing time for withdrawals is estimated to be between 2 to 5 business days.

Pros and Cons

Pros Cons
Multiple deposit options available Withdrawal processing time may take up to 5 days
Accepts Bank Wire Transfer, Credit Card, PayPal, and Union Pay No information on withdrawal fees
Minimum deposit requirement of US$100.00 or its equivalent Limited details on withdrawal process

Trading Platforms

GQFX offers multiple trading platforms, including MT4 for Windows, MT4 for Mac, iPhone App, Android App, iPad App, and Tablet App. These platforms provide user-friendly interfaces and various trading tools for efficient trading. MT4 is recognized as the world's most popular forex trading platform, offering easy navigation, numerous indicators, and charting capabilities. The mobile apps for iPhone, Android, and iPad allow traders to access their accounts on the go and provide features such as real-time exchange rates and speedy executions. The Tablet App offers a user-friendly interface and efficient analysis tools. Overall, GQFX provides a range of platforms to cater to different devices and operating systems, enhancing the trading experience for its clients.

trading-platform
Pros Cons
Multiple trading platforms available No specific mention of advanced trading features
User-friendly interfaces Limited information on platform customization
Various trading tools provided Limited details on technical support availability
Numerous indicators and charting capabilities Limited information on platform stability
Mobile apps for iPhone, Android, and iPad No information on additional platform offerings

Customer Support

GQFX provides customer support services to its clients. To get in touch with the customer support team, individuals can reach out to GQFX through the provided email address, info@gqfxtrading.com. Clients can use this email to submit their inquiries or concerns.

However, further details regarding the specific features, responsiveness, or availability of customer support are not mentioned in the provided information. The location of GQFX's Central America office is stated as the First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.

To contact the customer support team, individuals are required to provide their first name, last name, email address, mobile number, and comments or inquiries. These details can be included in the email message to initiate communication with GQFX's customer support. It is important to note that the level of customer support quality and response time cannot be assessed based on the available information.

customer-support

Conclusion

GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), but these claimed regulations are suspected to be clones or invalid. The broker's regulatory status is classified as “Suspicious Clone,” raising concerns about its legitimacy and reliability. GQFX offers two types of accounts: live accounts for real-time trading with real money and demo accounts for practicing trading without risking real funds. However, specific details about the account features and trading conditions are not provided. GQFX provides multiple trading platforms, including MT4 for various devices, but the quality and responsiveness of customer support cannot be assessed based on the available information. Traders should be cautious and consider the potential risks associated with GQFX.

FAQs

Q: Is GQFX a regulated broker?

A: GQFX claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), but these claimed regulations are suspected to be clones or invalid.

Q: What types of accounts does GQFX offer?

A: GQFX offers live accounts for real-time trading with real money and demo accounts for practice trading without risking real funds. Specific details about the features and trading conditions of the accounts are not provided.

Q: How can I open an account with GQFX?

A: To open an account with GQFX, visit their website, fill in your email address and phone number, verify your email, set up a nickname and password, and complete the registration process.

Q: What leverage does GQFX offer?

A: GQFX offers a maximum leverage ratio of 1:100, which is considered average compared to other brokers.

Q: What are the spreads offered by GQFX?

A: GQFX provides spreads for various currency pairs and commodities on their website. The spreads for major currency pairs appear to be on the higher side compared to industry standards.

Q: How can I deposit and withdraw funds with GQFX?

A: GQFX offers several deposit options, including bank wire transfer, credit card payments, PayPal, and Union Pay. To withdraw funds, fill out a withdrawal form in the client area and allow 2 to 5 business days for processing.

Q: What trading platforms does GQFX provide?

A: GQFX offers multiple trading platforms, including MT4 for Windows, MT4 for Mac, and various mobile apps for iPhone, Android, and iPad.

Q: How can I contact GQFX customer support?

A: You can contact GQFX customer support by email at info@gqfxtrading.com. Further details about the support features and responsiveness are not provided.

User Reviews

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Comments

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Đặng Ngọc Linh
more than one year
As a user of GQFX, I've got to say, there's some fishy stuff going on. I've traded on other platforms with different brokers, but there's something off about GQFX. The market manipulation is way too obvious. That's a red flag for me.
2024-02-07 16:45
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0
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鱼香肉丝
more than one year
Oh boy, where do I even start with GQFX? I traded currency pairs and gold on their platform before, and let me tell you, their spreads were ridiculously huge. When I asked about it, they blamed it on "market volatility" and "liquidity issues". I lost some of my capital because of it and decided to withdraw what was left. Thankfully, the withdrawal process wasn't too much of a hassle, but I'm never trading with GQFX again.
2023-03-27 10:25
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0
0
赤西
more than one year
Initially, my trading account was frozen by broker GQFX. While trades were open, I was unable to enter. Later, the trading platform itself ceased working, and the gqfx.com domain has been down for over a month.
2022-12-20 10:55
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