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GCG

Australia|Scam Brokers|
5-10 years|Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|Clone Firm Australia|High potential risk|

http://wsz.gcgtrading.com/english/index.html

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
GCG-Demo MT4
Server Location Canada

Contact

+61 2 80368388
cs@gcgtrading.com
http://wsz.gcgtrading.com/english/index.html

Licenses

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

Single Core

1G

40G

Open Now

Contact number

English

+61 2 80368388

Broker Information

More

Company Name

Goldland Capital Group

Company Abbreviation

GCG

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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This platform is a Ponzi Scheme. Please stay away! 4
Previous Detection : 2024-03-02
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
  • The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

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GCG · Company Summary

Risk Warning

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.

General Information

GCG Review Summary
Founded 2013
Registered Country/Region Australia
Regulation Clone Firm
Market Instruments forex, commodities, indices
Leverage 1:400
EUR/USD Spread 0.1-0.5 pips
Trading Platforms MT4
Minimum Deposit $1,000
Customer Support email, instant chat, telephone

What is GCG?

GCG Trading, an online trading platform, presents itself as a provider of diverse trading instruments, including foreign currency pairs, commodities such as oil and metals, and market indices.

All of its permits have been discovered to be expired, indicating a lack of effective oversight and scrutiny from governmental or financial authorities. Additionally, it is presently unable to visit the platform's official website, raising the possibility that it has vanished.

Pros & Cons

Pros Cons
• Diverse Range of Trading Instruments • Current Regulatory Status as a Clone Firm
• Multiple Communication Channels Available • High Minimum Deposit
• Scam Broker

GCG Alternative Brokers

There are many alternative brokers to GCG depending on the specific needs and preferences of the trader. Some popular options include:

  • Plus500 - A CFD service provider that offers a simple, user-friendly platform and a wide range of tradable instruments, making it suitable for those interested in CFD trading.

  • Forex.com - As a leading forex broker, it provides a wide range of currency pairs, a robust trading platform, and high-quality research tools, making it an excellent option for forex traders.

  • XTB - Known for its combination of educational materials, comprehensive market analysis, and a custom trading platform, it's an excellent choice for new and experienced traders alike.

Is GCG Safe or Scam?

The safety and legitimacy of GCG Trading come into question due to the discrepancies surrounding its regulatory claims. Despite purporting to be regulated by the Australia Securities & Investment Commission (ASIC) under License No. 436416, recent investigations reveal that its current status is associated with a clone firm. And it is a scam broker. This disparity raises concerns about the accuracy and authenticity of GCG Trading's regulatory assertions.

cloned ASIC license

Given this conflicting information, it is prudent for potential traders to exercise caution and thorough due diligence before engaging with GCG Trading. To ensure the safety of one's investments and mitigate potential risks, it is advisable to explore alternative trading platforms that offer clear, verifiable regulatory credentials and a well-established reputation in the industry.

Market Instruments

GCG Trading provides a diverse array of trading instruments for its users to choose from. In addition to a wide range of foreign currency pairs, the platform also offers opportunities to trade commodities like oil and metals, as well as various market indices.

Accounts

GCG Trading offers three distinct types of trading accounts, each designed to cater to varying levels of experience and investment capabilities.

Account Type Minimum Deposit
Standard $1000
EDGE $10,000
Professional $100,000

The Standard Account grants traders access to a diverse array of products, complemented by highly competitive fixed spreads that are reflective of the current market conditions. With an affordable minimum deposit of $1,000, this account option is suited for those entering the trading arena with a moderate investment capacity.

Mirroring the benefits of the Standard Account, the EDGE Account offers access to a wide range of products and maintains the best-of-market fixed spreads. However, it requires a higher minimum deposit of $10,000, positioning it as an attractive option for individuals with a greater trading acumen and financial commitment.

With access to the same comprehensive product selection and top-tier fixed spreads as the other account types, the Professional Account is designed for highly experienced traders and institutional investors. Requiring a substantial minimum deposit of $100,000, this account level offers an exclusive avenue for those seeking a premium trading experience characterized by advanced features and personalized support.

Leverage

Leverage

GCG Trading provides varying levels of leverage across its range of account options to cater to the diverse needs and risk profiles of traders. Both Standard and EDGE accounts offer a higher maximum leverage of 1:400, allowing traders to amplify their trading potential by a factor of 400 relative to their initial investment.

In contrast, the Professional account maintains a maximum leverage of 1:200. While slightly lower than the other account types, this level of leverage still provides a significant boost to trading power.

This level of leverage can offer opportunities for enhanced gains, but it's important for traders to exercise prudence and carefully manage their risk exposure.

Spreads & Commissions

For EDGE accounts, traders can benefit from impressively tight spreads ranging from 0.1 to 0.5 pips. This range allows for precision in trade execution and accommodates different market conditions. While EDGE account holders enjoy these favorable spreads, a nominal commission fee of $7 per trade is applicable, reflecting a balanced approach to cost management.

In contrast, Professional accounts at GCG Trading offer an even more streamlined pricing model. Traders utilizing the Professional Account are entitled to a remarkable spread of just 0.1 pips, minimizing trading costs while maximizing potential gains.

Importantly, similar to Standard accounts, Professional accounts feature zero commission charges, enabling traders to fully capitalize on their trading activities without the additional burden of transaction fees.

Broker EUR/USD Spread (pips) Commissions (per lot)
GCG 0.1-0.5 (EDGE) $7 per trade
Forex.com Average of 0.6 Varies (depending on account type)
XTB Average of 0.2 Not provided
Plus500 Average of 0.6 No commissions

Trading Platform

MetaTrader 4 is currently the most widely used trading platform, thus it is not surprising that GCG Trading provides it to clients. Trading platforms like MT4 give users access to real-time charts, the most recent news, and market data. It offers a user-friendly interface, customizable charts, and a variety of technical indicators, all of which have been developed to enhance a trader's performance. It is easy to use, making it ideal for novices.

MT4

See the trading platform comparison table below:

Broker Trading Platforms
GCG MT4
Forex.com MT4, Forex.com Web Platform, Forex.com Mobile App
XTB xStation 5
Plus500 Plus500 WebTrader, Plus500 Mobile App

Customer Service

Depending on the nature of your query, a range of email addresses (info@gcgtrading.com) is available, ensuring that your specific concerns are directed to the appropriate department for swift resolution. Additionally, GCG offers the convenience of instant chat, allowing traders to engage in real-time conversations with customer service representatives, fostering efficient communication and problem-solving.

Recognizing the significance of seamless accessibility, GCG Trading also extends its customer service reach via a dedicated telephone number (+61 2 80368388).

And this broker claims to offer 24/5 support.

Conclusion

In conclusion, concerns arise regarding the authenticity of GCG Trading's regulatory claims. Despite asserting regulation by the Australia Securities & Investment Commission (ASIC), the platform's current status is linked to a clone firm, casting doubt on its regulatory credibility. This conflicting information raises skepticism and prompts potential traders to exercise caution.

It is advisable to approach GCG Trading with prudence and thorough research, considering the apparent disparity between claimed regulation and actual status. And the reports can prove that it is a scam broker, without valid regulations. To ensure a safe and secure trading experience, exploring alternative platforms with transparent and verifiable regulatory credentials is recommended. As such, due diligence remains essential when evaluating GCG Trading's legitimacy and credibility within the online trading landscape.

Frequently Asked Questions (FAQs)

Q1: What types of trading instruments does GCG Trading offer?

A1: GCG Trading provides a variety of trading instruments, including foreign currency pairs, commodities like oil and metals, and market indices.

Q2: What is the approach to customer service at GCG Trading?

A2: GCG Trading emphasizes customer service, offering 24-hour support from Monday to Friday through various communication channels, including email (info@gcgtrading.com), instant chat, and telephone (+61 2 80368388).

Q3: What concerns have been raised about GCG Trading's regulatory claims?

A3: Recent investigations reveal that GCG Trading's current status is linked to a clone firm, casting doubt on the accuracy and authenticity of its regulatory assertions.

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平安个贷-小王(成都)
more than one year
Don't trust this site. Don't waste your time and money here. They are not even regulated by any financial institutions. Be careful and stay away. It has been verified as a Ponzi Scheme.
2023-03-09 15:08
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sa Ti and
more than one year
t
2022-11-15 00:42
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sa Ti and
more than one year
d
2022-11-15 00:42
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