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(+855) (0) 23 213 686
They asked me for some “unfreeze fee” when I first applied for my withdrawal. After then, they asked me for some “verify fee” then “second verify fee”. After doing so, they asked for some “personal fee” saying that I’ve done so many withdrawal requests. Later they said my account has illegal practice and I have to pay some fine. After all these, I asked them to give back all my money. They charged me 10% “ verify fee”. This is a god damned scam!
|Tradable Assets||Forex, Precious Metals (more to come)|
|Account Types||Standard Business, GoldFX Pro, GoldFX VIP|
|Spreads||From 1.4 pips|
|Commission||Varies by account type|
|Deposit Methods||Bank transfer|
|Trading Platforms||MetaTrader 4 (MT4)|
|Customer Support||Email (email@example.com), Phone (+855) (0) 23 213 686|
|Education Resources||Trading strategy videos, various trading approaches, outdated research and analysis information, economic calendar|
Overview of GFX
GFX, founded in 2021 and based in Cambodia, is a relatively new player in the world of online trading. The platform offers a range of financial instruments for traders, primarily focusing on forex and precious metals. Traders can choose from three different account types, each with varying minimum deposit requirements and leverage options. Notably, GFX operates without regulation from recognized financial authorities, which may raise concerns about the safety and transparency of its services.
One of GFX's notable features is its support for the popular MetaTrader 4 (MT4) trading platform, available for both desktop and mobile devices. MT4 is well-regarded in the industry for its advanced charting tools, technical analysis capabilities, and the ability to automate trading strategies using Expert Advisors (EAs). This platform choice provides traders with a familiar and robust trading environment.
While GFX does offer some educational resources, including trading strategy videos and an economic calendar, it lacks detailed information on deposit methods and bonus offerings. As such, traders considering GFX should approach the platform with caution and conduct thorough due diligence, especially in light of the absence of regulatory oversight.
Is GFX Legit？
GFX is not regulated by any recognized financial regulatory authority. It operates without oversight from established regulatory bodies, which means there may be limited avenues for dispute resolution, potential concerns about the safety and security of funds, and a lack of transparency in its business practices. Traders considering GFX should exercise caution and conduct thorough research due to the absence of regulatory oversight.
Pros and Cons
GFX, as a trading platform, presents a set of advantages and disadvantages that traders should carefully consider. On the positive side, GFX offers a diverse range of trading instruments, providing traders with options to diversify their portfolios. Multiple account types and leverage options contribute to flexibility in tailoring trading strategies. The support for the MetaTrader 4 platform is a significant advantage, as it is renowned for its robust features. Moreover, the availability of customer support demonstrates a commitment to assisting traders. However, there are notable drawbacks, including the lack of regulatory oversight, which raises concerns about safety and transparency. GFX's limited variety of tradable products may not satisfy the needs of all traders seeking diversified opportunities. Limited deposit methods and insufficient information on the commission structure can be inconvenient for users. Additionally, the platform's research and analysis information is described as outdated, potentially limiting its value for traders seeking up-to-date market insights. Traders should weigh these pros and cons carefully to make an informed decision about using GFX for their trading activities.
|Diverse Range of Trading Instruments||Lack of Regulatory Oversight|
|Multiple Account Types||Limited Variety of Tradable Products|
|Leverage Options||Limited Deposit Methods|
|Support for MetaTrader 4 Platform||Limited Information on Commission Structure|
|Customer Support||Outdated Research and Analysis Information|
GFX provides traders with a range of tradable financial instruments. These include:
Forex: GFX offers a variety of currency pairs for forex trading. This allows traders to speculate on the exchange rate movements between different currencies, such as EUR/USD, GBP/JPY, and USD/JPY.
Precious Metals: Traders can also access precious metals like gold and silver through GFX. These metals are popular assets for hedging against economic uncertainty and can be traded to profit from their price fluctuations.
Additionally, GFX has plans to introduce Crude Oil, Commodities, and even CFD (Contract for Difference) products in the future. These offerings will further diversify the range of trading instruments available to investors, potentially expanding trading opportunities. It's important for traders to keep an eye on GFX's platform for updates regarding these new additions to their instrument lineup.
Here is a comparison table of trading instruments offered by different brokers:
GFX provides traders with three distinct account types to choose from, catering to varying trading preferences and risk tolerances.
Standard Business Account: This is the most basic account type and requires a minimum deposit of $1000. It offers a spread of 1.8 pips and a leverage of up to 1:100.
GoldFX Pro Account: This account type requires a minimum deposit of $5000 and offers a spread of 1.6 pips and a leverage of up to 1:200.
GoldFX VIP Account: This is the most premium account type and requires a minimum deposit of $10,000. It offers a spread of 1.4 pips and a leverage of up to 1:400.
GFX offers different leverage levels depending on the chosen account type:
- Standard Business Account: Leverage up to 1:100.
- GoldFX Pro Account: Leverage up to 1:200.
- GoldFX VIP Account: Leverage up to 1:400.
Leverage is a critical aspect of trading that allows traders to control larger positions with a relatively smaller amount of capital. However, it's important to remember that higher leverage also means higher risk, as it can magnify both profits and losses. Traders should carefully consider their risk tolerance and trading strategy when selecting the appropriate leverage level for their accounts.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
GFX provides limited information regarding spreads on its website for foreign exchange products. However, it's worth noting that the commission structure varies depending on the type of trading account:
- GFX Basic accounts charge a commission for trading.
- Pro and VIP accounts, on the other hand, do not charge a commission for foreign exchange trading.
While the absence of specific spread details can make it challenging for traders to assess the cost of trading, it's important to consider the overall cost structure, including spreads and commissions, when evaluating the suitability of GFX for your trading needs. Traders should also be aware that different account types may offer varying fee structures and trading conditions. Therefore, it's advisable to review the complete fee schedule provided by GFX to make an informed decision about trading with the broker.
Deposit & Withdraw Methods
GFX mentions that it provides traders with multiple funding options to deposit funds into their trading accounts. However, the specific methods for depositing funds are not detailed on the GFX website. Instead, GFX displays the bank account number of Canadia Bank PLC, suggesting that bank wire transfer may be one of the available deposit methods.
The lack of detailed information about deposit methods on the GFX website may pose some challenges for traders who prefer to have a variety of funding options or those who require specific payment methods. It's advisable for prospective traders to reach out to GFX's customer support or refer to the broker's official documentation to obtain comprehensive information about deposit methods, including any associated fees and processing times. Additionally, traders should carefully consider their preferred payment methods when evaluating whether GFX aligns with their individual requirements and preferences.
GFX provides traders with a selection of trading platforms to suit their preferences and needs. Traders can opt for the popular MetaTrader 4 (MT4) platform, which is available in both desktop and mobile versions. The MT4 desktop version offers a comprehensive set of trading tools and features, making it a preferred choice for many experienced traders. It provides advanced charting capabilities, technical analysis tools, customizable indicators, and the ability to automate trading strategies using Expert Advisors (EAs).
For traders who prefer to trade on the go, GFX offers mobile trading software for both iOS and Android devices. These mobile trading apps enable traders to access the markets, monitor their positions, and execute trades from the convenience of their smartphones or tablets. The mobile apps provide a user-friendly interface, real-time market data, and essential trading functionalities, allowing traders to stay connected to their portfolios wherever they are.
GFX offers customer support through various channels to assist traders with their inquiries and concerns. Traders can reach out to the support team via email at firstname.lastname@example.org, which provides a convenient way to communicate non-urgent matters or seek assistance.
For more immediate assistance, traders can contact GFX's customer support team by phone at (+855) (0) 23 213 686. This phone support option allows traders to speak directly with a representative for timely responses to their queries or issues.
GFX offers several educational resources and trading tools. They include instructional videos on trading strategies, a section detailing various trading approaches, outdated research and analysis information, and an economic calendar displaying upcoming news events and their market impact. These resources aim to assist traders in improving their trading skills and staying informed about market events.
In conclusion, GFX, as a brokerage platform, offers both advantages and disadvantages. On the positive side, GFX provides traders with a diverse range of trading instruments, multiple account types, and leverage options, fostering flexibility in trading strategies. Its support for the MetaTrader 4 platform and customer support channels is also commendable. However, significant drawbacks include the lack of regulatory oversight, which raises concerns about safety and transparency. GFX's limited variety of tradable products may not suit traders seeking more diversified opportunities. The platform's shortcomings in deposit methods, commission structure information, and outdated research and analysis further add to its challenges. Therefore, prospective traders should exercise caution and conduct thorough research before choosing GFX as their trading platform, weighing the advantages against the disadvantages to align with their specific trading goals and preferences.
Q: Is GFX regulated by any financial authorities？
A: No, GFX operates without regulatory oversight, which means it lacks supervision from established financial regulatory bodies.
Q: What types of trading instruments are available on GFX？
A: GFX offers a variety of tradable assets, including foreign exchange (forex) and precious metals like gold and silver.
Q: Can I choose from different account types on GFX？
A: Yes, GFX provides traders with multiple account types, each with its own minimum deposit requirements, spreads, and leverage options.
Q: Is the MetaTrader 4 platform supported on GFX？
A: Yes, GFX supports the popular MetaTrader 4 (MT4) trading platform, available for both desktop and mobile devices.
Q: How can I reach customer support at GFX？
A: You can contact GFX's customer support team via email at email@example.com or by phone at (+855) (0) 23 213 686.
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