Giant IFC foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://giantifc.cc/, about the company's legal and temporary regulatory information, the company's address UNIT G1 CAPITAL HOUSE 61 AMHURST ROAD LONDON UNITED KINGDOM E8 1LL.
Giant IFC, officially known as Giant International Finance Limited, is a forex brokerage firm that was established in 2022. The company is headquartered in London, United Kingdom, at Unit G1, Capital House, 61 Amhurst Road, London, E8 1LL. Giant IFC operates as a private entity, offering various trading services primarily to retail clients worldwide.
Since its inception, Giant IFC has aimed to provide a diverse range of financial services, focusing on forex trading and other financial instruments. However, the broker has faced significant scrutiny due to its unregulated status and a series of warnings from financial authorities, particularly in the UK. The Financial Conduct Authority (FCA) issued a warning against Giant IFC, indicating that it might be providing financial services without proper authorization.
Giant IFC's business model primarily revolves around retail forex trading, providing access to various currency pairs, CFDs, commodities, and indices. Despite its claims of being a legitimate trading platform, the absence of regulatory oversight raises concerns about the safety of client funds and the overall integrity of the broker.
Giant IFC is currently operating without any valid regulatory oversight. The primary regulatory authority that has issued warnings against the broker is the Financial Conduct Authority (FCA) in the UK. The FCA has flagged Giant IFC as an unauthorized firm, suggesting that it may be providing financial services without the necessary licenses.
Giant IFC claims to be regulated by the Financial Crimes Enforcement Agency (FinCEN) in the United States, with an MSB number of 31000230626159. However, the authority to issue forex licenses and regulate forex markets in the U.S. rests with the National Futures Association (NFA). A search on the NFA's website does not yield any results for Giant IFC, reinforcing the broker's unregulated status.
The lack of regulatory oversight means that client funds are not protected under any investor compensation schemes, and there is no guarantee of fund safety. Additionally, the broker does not appear to implement proper Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which are crucial for ensuring compliance and protecting against fraudulent activities.
Giant IFC offers a variety of trading products, including:
Forex Currency Pairs: The broker provides access to numerous currency pairs, allowing traders to speculate on exchange rate fluctuations. However, the exact number of pairs available is not specified.
CFD Products: Traders can engage in contracts for difference (CFDs) across various asset classes, including indices, commodities, and stocks.
Special Products: While Giant IFC claims to offer unique trading options, specific details regarding these products are not readily available.
Retail Trading Services: The broker primarily focuses on retail clients, offering trading services that cater to individual investors.
Institutional Client Services: Information regarding services for institutional clients is limited, indicating a primary focus on retail trading.
White Label Solutions: There is no mention of white label solutions or asset management services being offered by Giant IFC.
Giant IFC's product offerings are subject to change, but the lack of transparency regarding product updates and additions raises concerns about the reliability of the information provided to clients.
Giant IFC does not support the widely used MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms, which are standard in the forex trading industry. Instead, the broker appears to operate on a proprietary trading platform, though details about its features and functionalities remain unclear due to accessibility issues with the website.
The broker's trading platform is accessible via a web interface, but there is no mention of a dedicated mobile application for iOS or Android devices. This lack of mobile support may hinder traders' ability to manage their accounts and execute trades on the go.
In terms of execution models, it is unclear whether Giant IFC employs an ECN, STP, or Market Making model, which are critical for understanding how trades are executed and the potential costs involved. Furthermore, information regarding server locations, technical infrastructure, and API access for automated trading is not disclosed.
Giant IFC offers various account types, including:
Standard Accounts: The minimum deposit requirement for opening a standard account is reportedly as low as $10. However, specific details regarding spreads, commissions, and other trading conditions are not clearly outlined.
Advanced Account Types: Information on VIP or professional accounts is limited, and specific benefits associated with these accounts are not mentioned.
Special Accounts: There is no indication that Giant IFC offers Islamic accounts or corporate accounts.
Demo Account Policy: The availability of a demo account for practice trading is not specified, which is a significant drawback for new traders.
Leverage Ratios: The broker claims to offer leverage up to 1:1000, but this may vary depending on the asset class.
Minimum Trade Sizes: Specific details on the minimum trade sizes and overnight fees are not provided, which can affect trading strategies.
Giant IFC supports a variety of deposit methods, including:
The minimum deposit requirement varies by account type, with reports indicating a minimum of $10 for standard accounts. However, details regarding deposit processing times and any associated fees are not available.
Withdrawal methods and limitations are also unclear, with many reports indicating that clients have faced difficulties in withdrawing funds. The withdrawal processing times and fee structures are not specified, raising concerns about the broker's reliability in handling client funds.
Giant IFC offers customer support through various channels, including:
The broker's service hours and time zone coverage are not disclosed, which can impact the availability of support for international clients.
Giant IFC does not appear to provide comprehensive educational resources, such as webinars, tutorials, or eBooks. Additionally, there is no mention of market analysis services, daily reports, or trading tools that could assist clients in making informed trading decisions.
Giant IFC primarily serves clients in the United Kingdom and potentially other regions, but specific details regarding its market coverage are limited. The broker does not have a clear regional office distribution, which may affect its ability to provide localized support.
Certain countries may be restricted from opening accounts with Giant IFC, especially those with stringent regulatory requirements. However, the exact list of countries where the broker does not accept clients is not specified.
In conclusion, while Giant IFC presents itself as a forex broker offering a range of trading products and services, the lack of regulatory oversight, negative customer feedback, and limited transparency raise significant concerns. Potential clients are strongly advised to conduct thorough research and consider regulated alternatives to ensure the safety of their investments.
Clarabelle
Ukraine
My trade experience with Giant IFC has left me with some concerns. While their diverse financial instruments and professional analysis provided me with a variety of trading options, the lack of regulation has kept me on edge. I constantly questioned the safety of my investment and if I made the right decision. The technical difficulties with their website only added to my discomfort. Based on this experience, I believe future trading would be more comfortable with a regulated broker.
37130
2023-12-06
FX1505430520
United States
Giant IFC is the real deal, mate! They offer a massive range of trading options, from forex to commodities, indices, shares, and futures. It's like a one-stop shop for all my trading needs! They've got something for everyone, whether you're a newbie or an experienced trader. Cheers to their diverse tradable assets!
Positive
2023-07-03
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The article highlights a complaint against Giant IFC, a broker with a low WikiFX score, detailing its platform closure, blocking of investor withdrawals, unauthorized license claims, and emphasizes the importance of using WikiFX to filter brokers and avoid scams.
Clementine
Ukraine
Trading with Giant IFC has been a mixed bag for me. On one hand, the range of market instruments and their dedication to transparency and ethical standards impressed me. However, the fact that they operate without valid regulation made me feel insecure about the safety of my funds. Coupled with difficulties when trying to access their website, I was left with a feeling of uncertainty, which is something I'd prefer to avoid in my future trading experiences.
37130
2023-12-07