GX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.gxbrokers.com/, about the company's legal and temporary regulatory information, the company's address 38 Ropery Rd Gateshead NE8 2HP United Kingdom..
GX Forex Broker
Basic information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Note: GX's official website - https://www.gxbrokers.com/ is currently inaccessible normally.
GX Review SummaryGX 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 Cons
| Pros | Cons |
| Wide range of tradable assets | Inaccessible website |
| Tight starting spreads | No regulation |
| No demo accounts | |
| High minimum deposit | |
| WikiFX exposures about withdrawal issues |
Is 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 Type | Min Deposit |
| Classic | USD 200 |
| Platinum | USD 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 Class | Spread | Commission |
| Forex | From 0.2 pips | / |
| CFDs | From 0.4 pips | / |
| US stocks | / | From $3 |
| Commodities | / | From $1.25 per lot |
Leverage
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.
Rating Index
Platinum account
Classic account
GX Similarly Rated Brokers
Latest Reviews
Lynx5124
Malaysia
RM0.00 Computerized Messaging System. To: Profit Transfer GXBroker Name: CHONG KAH WENG Bank negara legal document supporting to approve transactions from abroad wire transfer cpyro currency to Malaysian Ringgit. - Document Rm 500 - Lawyer fee Rm 300 - Transport fee Rm 200 - Submission Rm 100 Stamp duty at the legal document to prove this document at the support court. If the transaction is not then you can report our company's Ewallet - Court case - Rm 2110 - Lawyer stamp - Rm 200 Total Rm 3410.00 Because investors invest through this company. Then you have to make an IWF DEPOSIT as a GUARANTEE and it will come back to you once with the results of your profits. This process is MANDATORY for new investors. And your next investment you don't need to make IWF because you have a record of making the GUARANTEE. ©[fe0f] 2020 GXBroker Fintech co
Exposure
2023-01-19
FX1181805683
Germany
I have been trading with this broker for the last 3 months. During this period, I never faced any issues rather and their customer service is very friendly and professional.
Positive
2022-12-19
ProGamer
Malaysia
At the beginning, he responded me positively, almost in seconds, also sent me a lot of withdrawal records of other customers. After the transfer, he called me and told that the 620 package was gone, need 580 more to invest. Otherwise, i have to wait a few more days. Inadditional, I can’t take 620 out before investing, also the 620 might not be profitable. Afterwards, since taught me how to withdraw money then suddenly disappeared
Exposure
2023-01-20