GARRANCE Forex Broker

Garrance Forex Broker - Complete Information Guide

1. Broker Overview

Garrance is a cryptocurrency trading and investment platform that has emerged in recent years, appealing to a growing audience interested in online trading ventures. Established in 2022, Garrance operates from its headquarters located in Manchester, United Kingdom. The company is privately owned and primarily serves retail clients seeking opportunities in the forex and cryptocurrency markets.

Since its inception, Garrance has positioned itself as a facilitator of cryptocurrency trading, offering various investment plans that promise returns within short time frames. The platform aims to provide seamless trading experiences for users, allowing them to invest in multiple cryptocurrencies and digital assets. Notably, the company has developed a referral program that incentivizes users to bring in new members, thus expanding its user base and enhancing profitability.

Garrance operates under a retail forex model, offering a range of trading products and services tailored for individual traders. The platform's user-friendly interface and innovative features are designed to cater to both novice and experienced traders alike.

2. Regulatory and Compliance Information

Garrance currently operates without any valid regulatory oversight, which raises significant concerns for potential investors. According to various sources, there is no evidence of the company being regulated by any recognized financial authority. This lack of regulation means that there is no regulatory number associated with Garrance, and the company does not provide information about its licensing status.

The absence of regulatory oversight implies that Garrance does not adhere to standard practices for customer fund protection, such as segregating client funds or participating in investor compensation schemes. Furthermore, the platform's compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is unclear, as there are no publicly available details confirming their implementation.

Due to the high potential risks associated with trading on unregulated platforms, it is crucial for investors to conduct thorough research and exercise caution when considering Garrance as a trading option.

3. Trading Products and Services

Garrance offers a diverse range of trading products, primarily focusing on cryptocurrencies. The platform supports a variety of forex currency pairs, including major, minor, and exotic pairs. In addition to forex trading, Garrance provides access to Contracts for Difference (CFDs) across several asset classes, including:

• Indices: Major global indices
• Commodities: Precious metals and energy products
• Stocks: Shares from various sectors
• Cryptocurrencies: A wide selection of popular digital currencies

The platform frequently updates its product offerings to meet market demands, ensuring that traders have access to the latest investment opportunities. Garrance also provides retail trading services, allowing individual investors to trade on its platform with competitive conditions.

For institutional clients, Garrance may offer tailored solutions, although specific details regarding institutional services have not been explicitly stated in available resources. The platform does not currently provide white-label solutions or asset management services.

4. Trading Platforms and Technology

Garrance supports the use of the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are known for their advanced trading features and user-friendly interfaces. These platforms allow traders to execute trades, analyze market trends, and manage their portfolios effectively.

In addition to the MT4 and MT5 support, Garrance offers a web-based trading platform that is optimized for mobile devices, ensuring that users can trade on the go. The platform is designed to facilitate easy navigation and transaction execution, catering to the needs of modern traders.

Garrance utilizes a market-making execution model, which can impact the trading conditions offered to users. The company has not disclosed specific details regarding its server locations or technological infrastructure, which is essential for understanding the reliability and speed of trade execution.

API access for automated trading is not mentioned in the available information, indicating that the platform may not currently support algorithmic trading solutions.

5. Account Types and Trading Conditions

Garrance offers several account types to cater to different trading preferences and experience levels. The standard account conditions include:

• Minimum Deposit: $500
• Spreads: Starting from 3 pips for major currency pairs
• Commissions: Not explicitly stated

For advanced traders, Garrance may provide higher-tier account options, although specific details regarding VIP or professional accounts are not provided in the available resources.

The platform does not currently offer Islamic accounts or corporate accounts. However, a demo account is available for users to practice their trading strategies without risking real capital.

Leverage ratios offered by Garrance vary by product, with a maximum ratio of 1:5 for forex trading. The minimum trade size is not explicitly mentioned, and information regarding overnight fees is limited.

6. Fund Management

Garrance supports a variety of deposit methods, including bank transfers and cryptocurrency payments. The minimum deposit requirement is $500 for standard accounts, while the processing time for deposits is generally instant for cryptocurrency transactions.

The platform does not charge deposit fees; however, the absence of detailed information regarding withdrawal methods and fees raises concerns. It is essential for potential investors to inquire directly with the company regarding withdrawal options and associated costs.

Withdrawal processing times are not specified, which may vary based on the method used. Garrance's lack of transparency in this area can be a significant drawback for users seeking reliable fund management.

7. Customer Support and Educational Resources

Garrance offers multiple customer support channels, including email and phone support. However, the availability of live chat and social media support is limited, which may affect the responsiveness of customer service.

The platform provides support primarily in English, and it is advisable for users to check the availability of assistance in other languages. Educational resources include webinars, tutorials, and market analysis services, which can help traders enhance their skills and knowledge.

Garrance also offers various trading tools, such as calculators and economic calendars, to assist users in making informed trading decisions. However, the depth of educational content and market analysis is not extensively detailed in the available resources.

8. Regional Coverage and Restrictions

Garrance primarily serves clients in the United Kingdom and potentially other regions, although specific details regarding its regional operations are not provided. The platform's website does not explicitly state which countries it accepts clients from, but potential investors should be aware of the risks associated with trading on unregulated platforms.

Certain jurisdictions may impose restrictions on trading with unregulated brokers, and it is crucial for users to verify their local regulations before engaging with Garrance. The lack of clarity regarding accepted regions and restrictions may pose additional risks for potential investors.

In conclusion, while Garrance positions itself as an appealing option for cryptocurrency trading, the absence of regulation and transparency raises significant concerns. Potential investors should approach this platform with caution and conduct thorough research before making any financial commitments.