GFX Forex Broker
Basic Information
China
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskRating Index
Platinum
Gold
GFX Forex Broker - Complete Information Guide
1. Broker Overview
GFX, officially known as GoldFX Investment Co., Ltd, was established in 2021 and is headquartered in Cambodia. The company operates as a private entity and primarily serves retail clients in the online trading market. GFX has emerged as a relatively new player in the forex and precious metals trading space, focusing on providing a diverse range of financial instruments to its clients.
Since its inception, GFX has aimed to cater to traders looking for flexibility in their trading strategies. The broker allows clients to engage in trading various assets, including forex pairs and precious metals, with plans to expand its offerings in the future. Despite being a recent entrant in the market, GFX has positioned itself to attract traders by providing multiple account types with varying features.
GFX operates on a business model that primarily targets retail forex traders, offering them a platform to trade various currency pairs and precious metals. The company's development has been marked by its commitment to providing a user-friendly trading experience through popular trading platforms like MetaTrader 4 (MT4). The broker's approach includes focusing on customer support and educational resources to assist traders in enhancing their trading skills.
2. Regulatory and Compliance Information
GFX operates without regulation from recognized financial authorities, which poses significant risks for potential investors. The broker has previously held a Cambodian Common Financial Service License, but this license has since been revoked. As a result, GFX does not have any regulatory oversight, which raises concerns about the safety of client funds and the transparency of its operations.
- Regulatory Bodies: None
- License Number: Not applicable due to revocation
- License Validity: Previously valid but revoked
- Legal Entities: GoldFX Investment Co., Ltd
- Client Fund Segregation Policy: Not applicable due to lack of regulation
- Investor Compensation Fund Participation: None
- KYC and AML Compliance Measures: Not specified
Given the absence of regulatory oversight, prospective clients are strongly advised to exercise caution when considering GFX as their trading platform.
3. Trading Products and Services
GFX offers a selection of trading products primarily focused on forex and precious metals. The broker currently provides access to:
- Forex: A variety of currency pairs, allowing traders to speculate on exchange rate movements. Popular pairs include EUR/USD, GBP/JPY, and USD/JPY.
- Precious Metals: Trading options for metals such as gold and silver, which are often used for hedging against economic uncertainty.
While GFX has plans to expand its product offerings to include commodities and CFDs (Contract for Differences), the current range is limited. Traders should monitor GFX's announcements for updates on new products.
GFX's retail trading services are designed to accommodate various trading strategies, and the broker is actively working on enhancing its product lineup to meet the evolving needs of its clients.
4. Trading Platforms and Technology
GFX supports the widely-used MetaTrader 4 (MT4) trading platform, which is favored for its robust features and user-friendly interface. MT4 is available for both desktop and mobile devices, enabling traders to access the markets conveniently.
- Platform Support: MetaTrader 4 (MT4)
- Web-Based Trading Platform: Not specified
- Mobile Application: Available for iOS and Android
- Execution Model: Not specified
- Server Locations and Technical Infrastructure: Not disclosed
- API Access and Automated Trading Support: Not mentioned
The choice of MT4 allows GFX traders to utilize advanced charting tools, technical analysis capabilities, and automated trading strategies through Expert Advisors (EAs).
5. Account Types and Trading Conditions
GFX offers three distinct account types, catering to different trading preferences and risk tolerances:
- Standard Business Account:
- Minimum Deposit: $1,000
- Spread: Starts from 1.8 pips
- Commission: Varies by account type
- GoldFX Pro Account:
- Minimum Deposit: $5,000
- Spread: Starts from 1.6 pips
- Commission: Varies by account type
- GoldFX VIP Account:
- Minimum Deposit: $10,000
- Spread: Starts from 1.4 pips
- Commission: Varies by account type
- Supported Deposit Methods: Bank transfer (specific methods not detailed)
- Minimum Deposit Requirement: $1,000 for the standard account
- Deposit Processing Time: Not specified
- Deposit Fees: Not disclosed
- Withdrawal Methods and Restrictions: Not specified
- Withdrawal Processing Time: Not mentioned
- Withdrawal Fee Structure: Not provided
- Support Channels: Email (support@goldfx.co), phone (+855 23 213 686)
- Service Hours: Not specified
- Language Support: Not detailed
- Main Service Markets: Cambodia
- Regional Offices: Not specified
- Countries/Regions Not Accepted: Not detailed
- Special Restrictions: None mentioned
GFX provides leverage options that vary by account type, with maximum leverage reaching up to 1:400 for the VIP account. The minimum trade size and overnight fees are not explicitly detailed in the available information.
6. Fund Management
GFX supports several deposit methods, although specific details are limited. The broker mentions bank transfers as a possible method, but other methods are not clearly listed. Key aspects of fund management include:
Clients are encouraged to reach out to GFX's customer support for detailed information regarding deposit and withdrawal methods.
7. Customer Support and Educational Resources
GFX offers customer support through various channels, including:
In terms of educational resources, GFX provides a range of materials such as trading strategy videos, an economic calendar, and outdated research and analysis information. However, the availability of up-to-date market analysis and tools is limited.
8. Regional Coverage and Restrictions
GFX primarily serves clients in Cambodia, with the potential to expand its reach to other regions. However, the broker's operations are constrained by its lack of regulatory oversight, which may limit its appeal to traders in more regulated markets.
In conclusion, GFX is a forex broker that presents both opportunities and risks for traders. While it offers a range of trading instruments and account types, the absence of regulatory oversight raises significant concerns about the safety and transparency of its operations. Prospective traders should conduct thorough research and consider their risk tolerance before engaging with GFX broker services.