ExposureThe true story of Gallen Capital not allowing investors to withdraw
Recently, WikiFX received a number of complaints from traders about Gallen Capital’s withdrawal rejection. Let’s find out with us.
No valid regulatory information, please be aware of the risk!
+41 852 2124 2609
Currently my account is assigned copy trade with another account while not providing ID, password. Now the other ID typed to fire my account.
Now I have 480 dollars but the platform won't let me withdraw while I clsoe all orders. And every time I withdraw, they say that it was not enough. While bonus has withdrawn and still no withdrawal. I'm looking forward to this complaint that I can get me the rest of the money.
Gallen Cappital floor is a super sophisticated and organized scam, money deposited can never be withdrawn, they will consist of groups playing all roles: investors, Support, IB but their mission is scam money into the exchange and they divide the money, they use the virtual account zalo. I was scammed by him twice and lost a total of 3000 USD. People should stay away from Gallen Cappital exchange, many people can accuse them of building another exchange and cheating.
On 11/22 I have an account opened at gallen capital exchange, I have 3,000$ in my account and I told support that I need to withdraw that money to have a job, support Khanh, Hieu, and an admin named Henry. . After convincing me not to, they immediately unfriended me. After that, I can't withdraw money. I sent an email to support, I received a notice that I had to trade 30 lots of money, metals, or 200 shares because it was related to bonnous, before I tried to withdraw $ 40, it was allowed to withdraw and the condition was to cancel the bonus. but it does not cancel the trade condition as above. T had traded, in the process they intervened to expand the spread, stretch the price and if they put sl, they slipped a few more prices, making the loss a lot bigger, t determined to enter the order and then exit and close enough lots already then it didn't close the order and in 1 minute I was deleted mt5 account, t went to the web, the tk was negative 500$. They take care of guests very carefully, everyone is very wary of losing money like me
When withdrawing, find a reason to reject withdrawal, have to trade at least 10 currency lines or 100cp, charge an overnight fee 10 times the loss.
My account was assigned copy trade while I did not provide the password id, the other id they traded led to my account burning. Fees were stretched horribly, soybean code expanded from 1368 to 1375 burned my account, while I sold at 1371 which should have been profitable. so terrible
dear i have an account at gallen capital exchange number 5509004, i stopped all orders on 07/17/203 to make 2 withdrawal orders. On july 18/2023 i haven't seen the money yet and mail contact support, on the same day as the Mt5 application, the account transaction was locked and I contacted to update the password, asked to send the link, I entered the password again, the account was negative, some times the Mt5 was negative, the wheat code 0.3 was negative. -19.020 usd. I contacted them to ask for help, they sold the error system that I traded, now I know it was cheated by the exchange. They said they opened a account to support 10000 usd and withdraw 70% when I deposited 10000 usd.
I was scammed by Gallen Capital's scammers into obtaining very sophisticated assets, totaling $3004 deposited twice. They colluded and pretended to deceive me. For the first time, an employee named Guanghui called me a ground staff member and asked me to recharge. I hesitated for a moment, but an additional person named Shan said he had also recharged Galen Capital online. I asked for a test fee of 100 yuan, but Shan said the test fee should be 1000 yuan. The money came back too quickly, Son also showed me the deduction on MT5, which was exactly $1000, so I subjectively didn't know. I immediately deposited $1500, and I just loaded it. Son told me, sister, that you have already loaded 2 pools, and we cheated. You contacted your friend Pham Thi Anh Thu, who is the main support, You helped me and my son steam an email introducing the floor, and after confirming with the floor, we contacted a person named Fan Shiying Shu. Contact my letter, telling Pool 2 to cheat and store automatic withdrawals. Yes, it's difficult for you to load and withdraw there. The next day, Huy told me that I had to trade 2 hands of oil to extract, rather than locking in the transaction. This letter tells me that the main swimming pool will support high-risk guests in Pool 2, provided that the amount deposited in Pool 2 is correct. Then, the main party will transfer $1500 to Pool 2, and I can withdraw all the funds. I would like to ask my son if he can withdraw $5000. My son always withdraws $5000 within a day, and I asked him carefully if he can transfer it to the other party. He said it can still be transferred, Therefore, I opened a new Tk and placed it under the email link. Initially, I promised to deposit on the same day (the day I deposited in the email was Thursday, now Monday). Later in the afternoon, due to other reasons, the email was also transferred from Tk pool 2 (open to Huy) to the main pool (open to email), I paid another $1500, and the letter said I had to pay an additional $500 to transfer money. I told you that I will wait until next week to lock the swimming pool and return it to you. So far, on Monday, I have contacted Thu and Thu said that I must deposit enough funds to pay for the 30% deposit. As mentioned in Part 1, I have two accounts at Gallen Capital, one of which was opened by Huy. As Thu said, Pool 2, Huy requires me to deposit two handfuls of oil in order to withdraw. I deposited 1502 yuan with ID 5514259. I didn't get it, but the letter stated that I am the main swimming pool and can transfer back $1502 by opening an account on the other side. The second ID I opened was 5514128. After loading the letter, I asked for an additional $500, but I didn't. The letter requires a signature for the transaction to reach $500, which is approximately 15 yellow camouflages. I asked me not to transfer the money back from Huy and to withdraw it from me. The reason for the letter is not acceptable, and there is also Son's help during the transfer process, Let me quickly recharge and withdraw 1000 yuan, 5000 yuan, and show me the picture of MT5 deduction. I have now recharged 3004 yuan from two accounts, one is 1486 yuan, and the other is 1504 yuan. The total amount of 2990 yuan has not been withdrawn.
Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.
|Gallen Capital Review Summary|
|Registered Country/Region||Saint Vincent and the Grenadines|
|Market Instruments||Forex, Equities CFD, Metals, Commodities, Indices, and Crypto|
|EUR/USD Spread||from 1.3 pips (Standard account)|
|Trading Platforms||MT4/5, Web Trader|
|Customer Support||Email: firstname.lastname@example.orgTelephone: +41 852 2124 2609Branch Office: Paradeplatz 8 8070 Zurich|
Gallen Capital is a brokerage firm that offers a range of trading instruments across various asset classes, including Forex, Equities CFD, Metals, Commodities, Indices, and Crypto through the MetaTrader4/5 and Web Trader trading platforms. However, it currently has no valid regulation.
We will examine this broker's attributes from a variety of angles in the following post, giving you clear and organized information. Please continue reading if you're curious. To help you quickly comprehend the broker's qualities, we will also provide a concise conclusion at the end of the piece.
|• Diverse trading instruments||• Reports of severe losses and failed withdrawals|
|• MT4/5 trading platform||• No regulation|
|• Multiple account types available|
There are many alternative brokers to Gallen Capital depending on the specific needs and preferences of the trader. Some popular options include:
• IC Markets - A broker that was founded in 2007 in Sydney, Australia. The company's mission is to create the best trading experience for retail and institutional clients alike, allowing traders to focus more on their trading. IC Markets is dedicated to offering superior spreads, execution, and service.IC Markets offers a wide range of trading products, including forex, CFDs on stocks, indices, commodities, and cryptocurrencies.
• FBS - The company has a wide range of account types, which cater to traders of all levels and preferences. Whether you're a beginner or an experienced trader, FBS has an account that will suit your needs. The broker also offers an impressive range of trading instruments, including over 40 currency pairs, precious metals, CFDs on stocks, and cryptocurrencies.
• IG - The company was founded in 1974 in London, U.K. is the world's first broker to actually built the concept of financial spread betting that introduced online dealing as early as in 1998. IG claims that it offers a wide range of tradable financial instruments for global investors, over 18,000 instruments, including Forex, indices, CFDs on stocks, digital cryptocurrencies, and options trading for investors to choose from.
Gallen Capital is a broker that is not regulated by any major financial regulator. This means that there is no governing body that oversees its activities or protects its customers. As a result, there is a high risk that Gallen Capital could be a scam.
Additionally, there have been several complaints from customers who claim that they have been unable to withdraw their funds from Gallen Capital.
If you are considering doing business with Gallen Capital, I would strongly advise against it. Many other regulated forex brokers offer a safe and secure trading environment.
Gallen Capital offers a wide range of market instruments, including Forex, Equities CFD, Metals, Commodities, Indices, and Crypto.
• Forex (foreign exchange) is the market for exchanging one currency for another.
• Equities CFDs (contracts for difference)are a type of derivative that allows traders to speculate on the future price movements of individual shares without actually owning the underlying shares. CFDs are traded on a margin basis, which means that traders only need to deposit a small amount of capital (known as margin) to control a larger position. This makes CFDs a relatively accessible way to trade equities, even for those with limited capital.
• Metals are elements that are solid at room temperature and have a high melting point. They are spot or futures trading.
• Commodities are raw materials that are used in the production of goods and services. They include agricultural products such as wheat, corn, and soybeans; energy products such as oil, gas, and coal; and metals such as gold, silver, and copper.
• Indices are baskets of stocks that track a particular market or sector.
• Crypto (cryptocurrency) is a digital or virtual currency that uses cryptography for security.
Gallen Capital offers a variety of trading platforms that allow investors to trade these market instruments.
There are three trading accounts offered by Gallen Capital, namely Fixed, Standard, and ECN.
TheFixed Account is the most basic account type offered by Gallen Capital. It is a good option for beginners and traders who are looking for a low-cost account.
TheStandard Account is a more advanced account type that offers several benefits, including lower spreads, no commissions, and higher leverage.
The ECN Account is the most advanced account type offered by Gallen Capital. It offers the lowest spreads, lower commissions, and lower leverage.
The initial deposit requirement is $100 for the Fixed account, $100 for the Standard account, and $200 for the ECN account.
Premium trading accounts, demo accounts, Islamic accounts, and MAM/PAMM accounts are also available.
The Premium account is a good option for traders who are looking for low spreads, no commission, and ECN execution. The cost of trading with a Platinum account is simple, which spreads from 0 pips and $4 per lot for commissions. Other costs are not applicable.
MAM stands for Multi-Account Manager. MAM is type of managed account that allows investors to pool their funds together and trade under the management of a professional trader. With a MAM account, investors can choose how their funds are allocated to different trades.
Gallen Capital offers a free demo account that you can use to practice trading without risking any real money. The demo account is funded with virtual money, so you can trade without any risk. The demo account is a great way to learn how to trade and test out different trading strategies.
To open a demo account, simply visit the Gallen Capital website and click on the “Demo Account” link. You will need to provide some basic information, such as your name, email address, and country of residence. Once you have opened a demo account, you will be able to start trading immediately.
If you are new to trading, using the demo account before you start trading with real money.
Gallen Capital offers an Islamic account that is designed to comply with Islamic law. Islamic accounts do not charge swap fees, which are interest payments that are typically charged on overnight positions. This makes Islamic accounts a good option for Muslims who follow Sharia law.
Gallen Capital's Islamic account offers the same features as the company's standard accounts, including low spreads, no commission, and ECN execution. The only difference is that the Islamic account does not charge swap fees.
To open an Islamic account with Gallen Capital, you will need to provide some basic information, such as your name, email address, and country of residence. You will also need to provide a copy of your passport or other identification document.
Once you have opened an Islamic account, you will be able to start trading immediately. You can trade the same instruments as you can with a standard account, but you will not be charged swap fees.
Gallen Capital offers maximum leverage of up to 1:500, which means that you can control a position worth 500 times your initial deposit. For example, if you deposit $100, you could control a position worth $50,000.
Leverage can magnify your profits, but it can also magnify your losses. If the market moves against you, you could lose more money than you deposited.
Spreads are affected by what type of accounts you are holding. The minimum spread in the Fixed account is fixed from 3 pips, and no commission is charged. The Standard account offers spreads floating from 1.3 pips, and no commission is charged. The ECN account offers spreads floating start from 0 pips, and a commission of $2.5 per lot.
Please note that these are just the minimum spreads and commissions. The actual spreads and commissions may vary depending on the market conditions.
Below is a comparison table about spreads and commissions charged by different brokers:
|Broker||EUR/USD Spread (pips)||Commissions (per lot)|
|Gallen Capital||1.3 (Standard account)||No commissions (Standard account)|
|IC Markets||From 1.0 (Standard account)||No commissions(Standard account)|
|FBS||From0.5 (Standard account)||No commissions(Standard account)|
Gallen Capital offers several trading platforms for its clients, including MT4/5 Trading Platform, and Web Trader.
• The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are the most popular trading platforms in the world. They are used by millions of traders to trade a wide range of financial instruments, including forex, CFDs, and stocks.
• Web Trader is a web-based trading platform that allows you to trade from any device with an internet connection. It is a simplified version of the MT5 platform, but it still offers several useful features.
All of these platforms are available to Gallen Capital clients. The best platform for you will depend on your individual trading needs and preferences. If you are a serious trader who wants access to a wide range of features, then MT5 Trading Platform is a good choice. If you are looking for a more simplified platform that you can access from anywhere, then Web Trader is a good option.
See the trading platform comparison table below:
|Gallen Capital||MT4/5 Trading Platform, Web Trader|
|IC Markets||MT4/5, Web trader|
|FBS||MT4/5, Web trader|
|IG||MT4, IG Proprietary|
Gallen Capital offers a variety of deposit methods, funds can be deposited using a wide range of payment methods including credit card, debit card, payment wallets including Neteller and Skrill, online banking, and bank wire transfer. The initial deposit requirement is $100, and there are no fees for most deposits and withdrawals. Most deposits are instant.
|Gallen Capital||Most other|
Funds can be withdrawn using a wide range of funding methods including credit/debit cards, payment wallets including Neteller and Skrill, online banking, and bank wire transfer.
Some of you may see reports of severe losses or failure to withdraw on our website. The business received several reports of this nature, however, some of them appear to have been resolved. We urge traders to carefully examine the dangers of trading on unregulated platforms and review the readily available information. Before trading, you can study the facts about our platform. Please let us know in the “Exposure” area if you come across any such dishonest brokers or if you have yourself been a victim. We would appreciate that, and our team of professionals will make every effort to help you fix the issue.
Gallen Capital offers a comprehensive customer support service, including email, and phone. Traders can also access a customized VIP customer service program, which includes dedicated account managers and priority support. In addition, Gallen Capital provides daily market analysis and online live trend analysis, to help traders make informed trading decisions. Customers can get in touch with their customer service line using the information provided below:
Phone: +41 852 2124 2609
Branch Office: Paradeplatz 8 8070 Zurich
Gallen Capital offers a variety of educational resources to help traders learn how to trade. The educational resources offered by Gallen Capital are a great way to learn how to trade. Whether you are a beginner or an experienced trader, there is something for you to learn. These resources include Webinars, Articles, Videos, Trading courses, Glossary. Checking out the educational resources offered by Gallen Capital, you can find these resources on the Gallen Capital website.
In conclusion, Gallen Capital is a brokerage firm that provides access to a wide range of trading instruments and offers MT4/5 Trading Platform, Web Trader platform to cater to different trading preferences. However, the company has no regulations. It's important to note that there have been reports of severe losses and failed withdrawals. Traders should exercise caution and conduct thorough research when considering Gallen Capital or any other brokerage firm, taking into account factors such as reputation, client feedback, and regulatory compliance. Making an informed decision requires a comprehensive evaluation of all relevant factors beyond the information provided here.
|Q1:||What types of trading instruments are available at Gallen Capital？|
|A1:||Gallen Capital offers a variety of trading instruments, including Forex, Equities CFD, Metals, Commodities, Indices, and Crypto.|
|Q2:||Is Gallen Capital a regulated brokerage firm？|
|Q3:||What trading platforms does Gallen Capital provide？|
|A3:||Gallen Capital offers MT4/5, and Web Trader Platforms.|
Recently, WikiFX received a number of complaints from traders about Gallen Capital’s withdrawal rejection. Let’s find out with us.
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