Updated on April 1, 2024
Quick Links
In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding GSFX due to the issues we've identified.
Is GSFX Scam or Legit Broker? ▲
Regrettably, GSFX cannot be considered a secure option for traders. It lacks the crucial oversight from any authoritative regulatory bodies, despite its attempts to portray itself as a broker under stringent regulation by premier entities. This absence of regulation raises significant doubts about its legitimacy and poses potential risks to traders' investments.
Registered in: No Registration
Type of License: No License
Is GSFX safe to trade: No
Recommended Licenses: FCA in UK & ASIC in Australia
GSFX presents itself as an online trading and retail brokerage firm, claiming prominence and registration in the UK, alongside being recognized as one of the leading European entities. Despite its operations being positioned as regulated by the FCA, the reality starkly contrasts its claims. The broker's website, primarily in Chinese with an English version available, indicates an intention to cater to a global clientele. However, the critical concern is the broker's non-registration with the FCA (Financial Conduct Authority) and its alleged UK location, which is untrue. This misrepresentation of regulatory status and location is a grave issue, highlighting a deceptive practice that is not tolerated by reputable financial service providers but is characteristic of fraudulent, unregulated entities.
The foremost problem with non-regulated entities like GSFX lies in their ability to craft appealing offers to lure deposits from clients, only to manipulate these clients and their funds, resulting in traders being unable to recover their investments.
The question arises - why venture into the utmost risk by associating with an unauthorized entity? Our advice is to opt for brokers that are truly regulated by reputable authorities such as the FCA in the UK or ASIC in Australia, ensuring a safe and dependable trading environment.
GSFX Update
Our investigations reveal that the GSFX website is currently inactive, indicating a cessation of its trading services. Despite this, we urge traders to remain vigilant and steer clear of any offers that might emerge from this broker, prioritizing their security and financial well-being.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
GSFX Review 2024
Scammers, don’t waste your time and your money it’s all scam they will take all your money and disappear. I was scammed by those crooks luckily getting my money back was possible with the help of curtis howard 270 @ gmail . com, kindly contact him if you are having issues in withdrawing your money from your investment broker.