GFX Forex Broker

Note: GFX's official website - https://www.gfxroyal.com/ is currently inaccessible normally.GFX Review SummaryFounded2019Registered Country/RegionMarshall IslandsRegulationNo regulationMarket InstrumentsCurrency pairs, CFDs on indices, commodities, stocks, and cryptocurrenciesDemo Account/LeverageUp to 1:5 (cryptocurrency)Spread6.2 pips (Explorer Account)Trading PlatformWeb TraderMin Deposit$500Customer SupportEmai: support@gfxroyal.com GFXRoyal is an offshore forex broker registered in Marshall Islands, offering currency trading services for both retail and professional traders. GFX claims that it offers five trading accounts for traders to choose from. GFXRoyal says that it is the trading name of GFX Finance who belongs to CAPITTAL LETTER GMBH, German Investment Firm Incorporation: HRB242418, 23/07/18. Please note that this brokerage is not subject to any regulatory authorities, please be aware of the risk.Pros and ConsPros Cons Diverse tradable assetsInaccessible websiteVarious accounts choicesLack of regulationWide spreadsNo MT4 or MT5High minimum depositLimited payment optionsInactivity fee chargedOnly email supportIs GFX Legit? No, it is not regulated by the financial services regulatory authority in Marshall Islands, which means that the company lacks regulation from its registration site. Besides, AMF, a French regulatory authority issued a warning notice about this company. Therefore, please be aware of the potential risks!What Can I Trade on GFX? GFX offers several types of products, including currency pairs, CFDs on indices, commodities, stocks, and cryptocurrencies.Tradable Instruments Supported Currency Pairs✔CFDs✔Indices✔Commodities✔Stocks✔Cryptocurrencies✔Bonds❌Options❌ETFs❌Leverage Trading on cryptocurrencies can use leverage up to 1:5, while leverage for other particular instruments is not mentioned.Account Type GFX provides 5 types of accounts, including Explorer, Basic, Silver, Gold, and Platinum.Account TypeMin DepositMax DepositExplorer$500$,2499Basic$2,500$9,999Silver$10,000$24,999Gold$25,000$99,999Platinum$100,000$499,999Trading Platform GFX uses a web-based platform, and it does not support MT4 or MT5.Trading PlatformSupported Available Devices Suitable forWeb Trader✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal GFX supports 3 types of payment options, including Wire Transfer, Vload, and Cashier. However, other details such as the processing time and fees are not clear.Fees If a trader did not login and trade from his account within three months, then his account will be subject to a deduction of 10% each month.