GFS deliberately made their server crash and manipulated the market to make their clients lose. It’s a white-label dealing-desk scam platform.
The platform even has no contact, and that is very informal. Everyone should trade on the platform under supervision. It is unscientific to have no regulatory.
I have applied for withdrawing money from GFS about one month ago, but the application is still under verification. It just doesn’t allow you to withdraw money.
GFS is a white-label forex platform profiting from clients’ losses. It cause the clients to lose money mainly by the following ways. First, it modifies the clients’ passwords via the back-end server and privately made reverse orders. Or it would creates chuck or others to cause losses. It also colluded with the trader team to make reverse orders and so on to cause great losses.
General Information & Regulation
Founded in 2009, GFS (Global Forex Service) is a forex broker which is an offshore company registered in St. Vincent and the Grenadine. St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations.
GFS offers trading in Forex currency pairs, CFD on Metals, CFD on Indexes, CFD on Commodities, CFD on Energies, CFD on stocks, CFD on crypto currencies.
There is a $2000 minimum for regular accounts and $300 minimum for mini accounts.
In terms of trading leverage, GFS offers the generous leverage, reaching up to 1:1000. Leverage can amplify gains as well as losses, it is not a good option for traders to trade with an unregulated broker using such high leverage.
Spreads & Commissions
GFS offers spreads as low as 2 pips, and both demo and live accounts to trade currency online. You are able to request either a USD $100K demo, or a USD Mini demo account to try out both types of online Forex trading.
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. GFS offers you MetaTrader 4, which is to our surprise.
GFS provides payment with Credit/debit cards, Local bank transfer and UnionPay, Fasapay, Neteller, and WebMoney.
Some key features and benefits to Global Forex is their constant available customer service, 24 hours a day, 7 days a week, even when the forex market is closed.