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GFX

Cambodia|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://gfx-i.com/en/home

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
GFXInternational-Demo MT4
Server Location Japan

Contact

+855 23 213 686
support@gfx-i.com
https://gfx-i.com/en/home
https://www.facebook.com/gfxinvest

Licenses

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

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

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
GFX
Blackwell Global
Kraken

Contact number

English

+855 23 213 686

Broker Information

More

Company Name

GoldFX Investment Co Ltd

Company Abbreviation

GFX

Platform registered country and region

Cambodia

Company website
Twitter
Facebook

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away!
Previous Detection : 2024-03-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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GFX · Company Summary

Aspect Information
Company Name GFX
Registered Country/Area Cambodia
Founded year 2019
Regulation Not regulated
Market Instruments Forex pairs, Indices, Commodities, Share CFDs
Account Types FIXPREMIUMRETAIL, PREMIUMRETAIL, RETAIL
Minimum Deposit USD $100 (FIXPREMIUMRETAIL, RETAIL), USD $10,000 (PREMIUMRETAIL)
Maximum Leverage 1:500 (FIXPREMIUMRETAIL, RETAIL), 1:200 (PREMIUMRETAIL)
Spreads Starting from 1.3 pips
Trading Platforms MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Customer Support English phone: +855 23 213 686; Email: support@gfx-i.com, support@goldfx.co
Deposit & Withdrawal Bank transfer, credit card

Overview of GFX

GFX, founded in Cambodia in 2019, offers a range of trading assets including Forex pairs, indices, commodities, and share CFDs. Its user-friendly MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms provide traders with competitive spreads starting from 1.3 pips and leverage options up to 1:500.

However, the absence of regulatory oversight poses risks about investor protection and transparency, potentially impacting traders' trust in the platform's integrity and reliability. While GFX's various trading instruments and accessible platforms attract traders, its regulatory status prompts some to seek alternatives with greater regulatory scrutiny for enhanced security and accountability.

Overview of GFX

Is GFX legit or a scam?

GFX operates without regulation from any governing authority.

This lack of regulation raises risks regarding investor protection and transparency. Without regulatory oversight, there's a risk of inadequate safeguards for traders' funds and potential misconduct within the platform.

Investors face challenges in resolving disputes or seeking recourse in case of fraudulent activities. The absence of regulation undermines confidence in the platform's integrity and expose traders to greater risks, highlighting the importance of choosing regulated brokers to ensure a safer trading environment.

Pros and Cons

Pros Cons
Multiple payment methods such as bank transfers, credit/debit cards Lack of regulatory oversight
User-friendly trading platforms (MT4/MT5) Delayed account verification
Competitive spreads starting from 1.3 pips
Wide range of trading instruments including Forex pairs, indices, commodities, and share CFDs
Leverage options up to 1:500

Pros:

  • Multiple payment methods: GFX offers a variety of payment options, providing convenience and flexibility for traders to deposit and withdraw funds using methods such as bank transfers, credit/debit cards, and electronic payment systems.

  • User-friendly trading platforms (MT4/MT5): GFX utilizes the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their intuitive interfaces, advanced charting tools, and customizable features. These platforms serves traders of all experience levels, offering a friendly trading experience.

  • Competitive spreads starting from 1.3 pips: GFX provides competitive spreads on a wide range of trading instruments, starting from 1.3 pips. Lower spreads can result in reduced trading costs for traders, enhancing their profitability in the markets.

  • Wide range of trading instruments: Traders have access to a wide selection of financial instruments on GFX's platform, including Forex pairs, indices, commodities, and share CFDs. This diversity enables traders to explore different markets and diversify their trading portfolios.

  • Leverage options up to 1:500: GFX offers leverage options of up to 1:500, allowing traders to amplify their trading positions relative to their initial margin. Higher leverage ratios can potentially increase both profits and losses, providing traders with greater flexibility in their trading strategies.

Cons:

  • Lack of regulatory oversight: GFX operates without regulation from any governing authority, which raises risks regarding investor protection, transparency, and adherence to industry standards. The absence of regulatory oversight can expose traders to greater risks, including potential misconduct and inadequate safeguards for their funds.

  • Delayed account verification: Some users have reported delays in the account verification process on GFX's platform, leading to frustration and inconvenience. Delays in account verification can hinder traders from accessing the platform's features and executing trades promptly, impacting their trading experience and opportunities in the markets.

Market Instruments

GFX offers a wide range of trading assets across Forex, Indices, Commodities, and Share CFDs markets.

In the Forex category, traders can access a wide array of currency pairs, facilitating opportunities for speculation and investment in major, minor, and exotic currency combinations.

Indices trading provides access to the performance of global stock indices, allowing traders to speculate on broader market movements rather than individual stocks.

Commodities trading encompasses various raw materials and resources, including precious metals like gold and silver, energy products like crude oil, and agricultural products like wheat and corn.

Additionally, GFX offers Share CFDs, enabling traders to engage in the price movements of individual company stocks without owning the underlying assets.

Market Instruments

Account Types

GFX offers three distinct account types tailored to meet the varying needs and preferences of traders: FIXPREMIUMRETAIL, PREMIUMRETAIL, and RETAIL.

FIXPREMIUMRETAIL account type provides traders with a maximum leverage of 1:500, making it suitable for those seeking higher leverage opportunities. With a minimum deposit requirement of USD $100, this account type offers accessibility to traders with smaller capital. The minimum spread starts from 3 pips, offering competitive pricing across a range of trading instruments including Forex, Indices, Commodities, and Share CFDs. The minimum position size of 0.01 lot allows for precise position management, suitable for both novice and experienced traders.

PREMIUMRETAIL account type offers a maximum leverage of 1:200, striking a balance between leverage and risk management. With a higher minimum deposit requirement of USD $10,000, this account type appeals to traders with a larger capital base. The minimum spread starts from 1.3 pips, providing tighter pricing compared to the FIXPREMIUMRETAIL account. Similar to the FIXPREMIUMRETAIL account, it supports trading across Forex, Indices, Commodities, and Share CFDs, with a minimum position size of 0.01 lot.

RETAIL account type mirrors the features of the FIXPREMIUMRETAIL account, offering a maximum leverage of 1:500 and a minimum deposit requirement of USD $100. The minimum spread also starts from 1.3 pips, ensuring competitive pricing for traders with smaller capital.

With a minimum position size of 0.01 lot, the RETAIL account is suitable for retail traders looking to access a wide range of trading instruments, including Forex, Indices, Commodities, and Share CFDs.

Account Type FIXPREMIUMRETAIL PREMIUMRETAIL RETAIL
Maximum Leverage 1:500 1:200 1:500
Minimum Deposit USD $100 USD $10,000 USD $100
Minimum Spread From 3 pip From 1.3 pip From 1.3 pip
Products Forex, Indices, Commodities and Share CFDs Forex, Indices, Commodities and Share CFDs Forex, Indices, Commodities and Share CFDs
Minimum Position 0.01 lot 0.01 lot 0.01 lot
Account Types

How to Open an Account?

Opening an account with GFX is a straightforward process, consisting of the following six steps:

  1. Visit GFX Website: Begin by visiting the official GFX website through a web browser on your computer or mobile device.

2. Account Registration: Locate the “Sign Up” button on the website's homepage and click on it to initiate the account registration process.

3. Provide Personal Information: Fill out the registration form with accurate personal information, including your full name, email address, phone number, and country of residence. Ensure that all details are entered correctly to facilitate the account verification process.

4. Choose Account Type: Select the desired account type based on your trading preferences and requirements. GFX typically offers multiple account options with varying features such as leverage, minimum deposit, and spreads.

5. Submit Documentation: Upload the necessary identification documents to verify your identity and address. This typically includes a government-issued ID (such as a passport or driver's license) and a recent utility bill or bank statement. Ensure that the documents are clear and legible to expedite the verification process.

6. Account Verification: Once you have submitted the required documentation, wait for GFX's compliance team to review and verify your account information.

Leverage

The maximum leverage provided by GFX is dependent on the chosen account type, with different levels available to accommodate varying risk preferences and trading strategies.

FIXPREMIUMRETAIL maximum leverage ratios: 1:500

PREMIUMRETAIL maximum leverage ratios: 1:200

RETAIL maximum leverage ratios: 1:500

A leverage ratio of 1:500 means that for every $1 in the trader's account, they can control a trading position worth up to $500. Similarly, a leverage ratio of 1:200 allows traders to control a position size up to 200 times their initial margin.

Account Type FIXPREMIUMRETAIL PREMIUMRETAIL RETAIL
Maximum Leverage 1:500 1:200 1:500

Spreads & Commissions

GFX offers varying spreads and commission structures across its FIXPREMIUMRETAIL, PREMIUMRETAIL, and RETAIL account types.

The FIXPREMIUMRETAIL account typically features spreads starting from 3 pips, representing the difference between bid and ask prices.

In contrast, the PREMIUMRETAIL account offers potentially tighter spreads, starting from 1.3 pips, making it more cost-effective for traders seeking competitive pricing.

Similarly, the RETAIL account also offers spreads starting from 1.3 pips, making it suitable for traders with smaller capital seeking competitive pricing. With a minimum deposit requirement of USD $100, this account type appeals to retail traders looking for cost-effective access to the markets.

Trading Platform

GFX utilizes the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, both widely recognized and established within the online trading industry.

These platforms offer traders a comprehensive suite of tools and features for executing trades across various financial markets, including Forex, Indices, Commodities, and Share CFDs. MT4 and MT5 provide intuitive and user-friendly interfaces, making them suitable for traders of all experience levels.

Key features of the MT4 and MT5 platforms include advanced charting capabilities, customizable technical indicators, and a wide range of order types for executing trades. Traders can access real-time market data, monitor price movements, and analyze trends to make informed trading decisions. Additionally, both platforms support automated trading through the use of Expert Advisors (EAs), allowing traders to implement algorithmic strategies and execute trades automatically based on predefined criteria.

MT4 and MT5 are available across multiple devices, including desktop computers, web browsers, and mobile devices, providing traders with flexibility and convenience to trade anytime, anywhere. Furthermore, GFX offers additional features and tools to enhance the trading experience, such as educational resources, market analysis, and customer support services.

Trading Platform

Deposit & Withdrawal

GFX offers multiple payment methods for depositing funds into trading accounts, including bank transfer and credit card payments. Traders can conveniently fund their accounts using these widely accepted payment methods, ensuring ease of access to the trading platform.

The minimum deposit requirement varies depending on the chosen account type.

For the FIXPREMIUMRETAIL and RETAIL accounts, the minimum deposit is USD $100, making it accessible to traders with smaller capital.

In contrast, the PREMIUMRETAIL account requires a higher minimum deposit of USD $10,000. This account type may appeal to traders with larger capital bases or those seeking access to higher leverage options and potentially tighter spreads. The higher minimum deposit reflects the enhanced trading conditions and features associated with the PREMIUMRETAIL account.

Customer Support

GFX offers customer support through various channels, including phone and email. Traders can reach out for assistance via the English-language contact number at +855 23 213 686.

Additionally, support is available through email at support@gfx-i.com and support@goldfx.co.

This multi-channel approach ensures accessibility and responsiveness to trader inquiries, providing prompt assistance effectively.

Customer Support

Exposure

Some users of GFX have reported significant delays in the verification process, leading to frustration about the accessibility of their funds for trading.

These delays can result in a prolonged waiting period before traders can access the platform's features and execute trades. As a result, traders experience inconvenience and dissatisfaction with the overall trading experience on the platform. Delays in account verification can also hinder traders from taking advantage of market opportunities promptly, potentially impacting their ability to capitalize on favorable market conditions or manage their positions effectively.

Exposure

Conclusion

In conclusion, GFX offers a wide range of trading instruments through user-friendly MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Its competitive spreads and leverage options provide traders with flexibility in their trading strategies.

However, the absence of regulatory oversight poses risks about investor protection and transparency, potentially undermining traders' confidence in the platform's reliability. Additionally, delayed account verification processes lead to frustration among users, hindering their ability to promptly access trading opportunities.

FAQs

Q: What trading platforms does GFX offer?

A: GFX offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

Q: What are the minimum deposit requirements for GFX accounts?

A: Minimum deposit requirements vary based on the account type, ranging from USD $100 to USD $10,000.

Q: Does GFX offer educational resources for traders?

A: Specific details regarding educational resources are not provided by GFX.

Q: How can I contact GFX customer support?

A: You can reach GFX customer support via phone at +855 23 213 686 or email at support@gfx-i.com or support@goldfx.co.

Q: What types of trading instruments are available on GFX?

A: GFX offers a wide range of trading instruments including Forex pairs, indices, commodities, and share CFDs.

Q: Is GFX regulated by any governing authority?

A: No, GFX operates without regulation from any governing authority.

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FX1589552924
more than one year
Waiting for ages to get my account verified, and there's been zero response so far. Despite depositing funds and uploading documents three days ago, I still can't make any trades, and my money is just stuck.
2024-01-06 01:09
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