GX Forex Broker

Note: GX's official website - https://www.gxbrokers.com/ is currently inaccessible normally. GX Review SummaryFounded/Registered Country/RegionUnited KingdomRegulationNo regulationMarket Instruments2,100+, forex, CFDs, stocks and commoditiesDemo Account❌SpreadFrom 0.2 pips (Forex)From 0.4 pips (CFDs)LeverageUp to 1:500Trading Platform/Min DepositUSD 200Customer SupportEmail: tradetoolspro@company.comAddress: 38 Ropery Rd Gateshead NE8 2HP United KingdomGX Information GX, the trading name of GS Brokers Capital Inc., is a brokerage company registered in the United Kingdom and currently does not maintain functional website, that's why we can only gather all the information in this article from Internet. The company offers trading services in CFDs, stocks and commodities. Minimum dpeosit is a little high at USD 200, with a tight spread from 0.2 pips. However, it cannot be negleceted that the broker currently operates without any valid regulation, which indicates possible less compliance to industry and customer protection. What's worse, there are two complaints on WIkiFX about withdrawal issues, indicating unpleasant customer experience with this broker.Pros and ConsPros Cons Wide range of tradable assetsInaccessible websiteTight starting spreadsNo regulationNo demo accountsHigh minimum depositWikiFX exposures about withdrawal issuesIs GX Legit? Regulation is a crucial aspect of evaluating the legitimacy and reliability of a brokerage firm, and in the case of GX, the broker operates without any valid regulatory oversight. The absence of a regulatory framework raises huge concerns regarding the broker's adherence to industry standards, financial transparency, and the protection of client interests.What Can I Trade on GX? GX claims to offer access to 2,100+ tradable assets to trade, including Forex, CFDs, stocks and commodities.Tradable Instruments Supported Forex✔CFDs✔Stocks✔Commodities✔Indices❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type/Fees GX claims to offer two types of trading accounts, namely Classic and Platinum, with minimum initial deposit requirements of $200 and $500 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.Account TypeMin DepositClassicUSD 200PlatinumUSD 500 While spread and commission vary depending on the trading asset. For example, the spread is as low as 0.2 pips on forex, and from 0.4 pips on the CFDs. The commission is from $3 on US stocks and $1.25 per lot on commodities.Asset ClassSpreadCommissionForexFrom 0.2 pips/CFDsFrom 0.4 pips/US stocks/From $3Commodities/From $1.25 per lotLeverage The leverage provided by GX is capped at 1:500. Nevertheless, you should keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.