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GFT Group

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://goldenforextrade.net/

Website

Rating Index

Contact

+1 (562) 247-3430
tradegoldenforex@gmail.com
https://goldenforextrade.net/

Licenses

No valid regulatory information, please be aware of the risk!

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Warning: Low score, please stay away! 2
Previous Detection : 2024-04-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

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GFT Group · Company Summary

Note: GFT Group is to operate via the website - https://goldenforextrade.net/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

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 contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument forex
Account Type Micro and Premium
Demo Account yes
Maximum Leverage 1:1000
Spread (EUR/USD) 0.1 pips
Commission N/A
Trading Platform no
Minimum Deposit $5
Deposit & Withdrawal Method Bitcoin direct deposits, PayPal and Bitcoin via Paxful

GFT Group, a trading name of GFT Group Ltd, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:1000 and floating spreads from 0.1 pips but without any available trading platforms via 2 different live account types.

As for regulation, it has been verified that GFT Group currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.27/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

GFT Group advertises that it is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.

Account Types

Apart from demo accounts, GFT Group claims to offer two types of live trading accounts, Micro and Premium, with minimum initial deposit requirements of $5 and $100.

Account Types

Leverage

The leverage provided by GFT Group is capped at 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

GFT Group offer spreads as low as 0.1 pips on EUR/USD currency pairs, however, we cannot verify if it is available due to its broken links.

Trading Platform Available

GFT Group has no platforms whatsoever. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

The funding methods at GFT Group are Bitcoin direct deposits, PayPal and Bitcoin via Paxful. The minimum initial deposit requirement is said to be only $5.

Bonuses

GFT Group claims to offer various bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Customer Support

GFT Group‘s customer support can be reached by telephone: +1 (562) 247-3430, email: tradegoldenforex@gmail.com. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.

Pros & Cons

Pros Cons
• Demo accounts offered • No regulation
• Website inaccessible
• Low minimum initial deposit requirement • No trading platform offered
• Popular payment methods unsupported

Frequently Asked Questions (FAQs)

Q 1: Is GFT Group regulated?
A 1: No. It has been verified that GFT Group currently has no valid regulation.
Q 2: Does GFT Group offer demo accounts?
A 2: Yes.
Q 3: Does GFT Group offer the industry-standard MT4 & MT5?
A 3: No. There isn‘t any trading platform available at GFT Group.
Q 4: What is the minimum deposit for GFT Group
A 4: The minimum initial deposit to open a Micro account is said to be only $5, while $100 is for the Premium account.
Q 5: Does GFT Group charge a fee?
A 5: Like every forex broker, GFT Group charges a spread fee. While the information on other fees like commissions, deposit & withdrawal processing fees are missing.
Q 6: Is GFT Group a good broker for beginners?
A 6: No. GFT Group is not a good choice for beginners. Although it says to offer demo accounts and the minimum initial deposit requirement is only $5, not any trading platform is offered and it currently hasn’t any legitimate regulation.

Broker Information

Company Name

GFT Group Ltd

Company Abbreviation

GFT Group

Regulatory Status

No Regulation

Platform registered country and region

Saint Vincent and the Grenadines

Phone of the company
  • +1 (562) 247-3430

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Customer Service Email Address
  • tradegoldenforex@gmail.com

Company Summary

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patapon
more than one year
Golden forex trade Is this company closed down? It doesn't even have a regulatory license. My guess is that a lot of companies failed because they didn't have enough capital in the first place, couldn't apply for a license, and therefore couldn't attract customers.
2023-03-06 16:30
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