GF Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
License
HKGX Unauthorized 
GF is a regulated precious metals broker that offers a wide range of financial products trading services. However, the industry news and updates on the website are not real-time, which may not be conducive to traders obtaining timely market information. In addition, the interface design of the website is relatively simple, and there is room for improvement in the user experience.
Summary: The GF broker, operating under the name GFBroker, has garnered significant scrutiny due to its offshore regulatory status and numerous negative user reviews. While it offers attractive trading conditions like high leverage and a proprietary trading platform, the overall sentiment leans heavily towards caution, with many sources advising against engaging with this broker.
Note: It is important to recognize that GF operates under various entities in different regions, which may affect its legitimacy and regulatory compliance. This review consolidates information from multiple sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rated This Broker: Ratings are based on a comprehensive analysis of user reviews, expert opinions, and factual data regarding GF broker.
Established in 2018, GF broker operates under the name GFBroker, primarily registered in Vanuatu. The broker offers a proprietary trading platform known as GFB Trader, which is available in desktop, web, and mobile formats. However, it lacks compatibility with popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). The broker provides access to a variety of trading assets, including currency pairs, precious metals, and CFDs. Notably, GF broker is regulated under a lenient offshore license, raising concerns about the safety of funds and the overall trading environment.
GF broker operates under the jurisdiction of the Vanuatu Financial Services Commission (VFSC), which is known for its lenient regulatory framework. This has led to warnings from several financial authorities, including the Bank of Lithuania and the Estonian Financial Supervision Authority, indicating that traders should exercise extreme caution when dealing with this broker.
GF broker accepts deposits primarily through credit/debit cards and wire transfers. Uniquely, it also allows deposits in gold, which is not a common practice in the forex industry. However, the limited payment options may not cater to all traders' needs.
The minimum deposit required to open an account with GF broker is $100, which is relatively low compared to many other brokers. This low entry point may attract novice traders, but it also raises concerns about the broker's credibility.
There is no clear information available regarding bonuses or promotions offered by GF broker. The absence of such details can be a red flag, as reputable brokers typically provide transparent information about their promotional offerings.
GF broker offers a range of tradable assets, including forex pairs, precious metals, and CFDs. However, the selection is limited compared to other brokers that provide a more extensive asset range.
The trading conditions at GF broker include variable spreads, with an average spread of around 0.7 pips for major pairs like EUR/USD. Additionally, a commission of $4.70 applies per trade, which is considered average for the industry. However, the lack of regulatory oversight raises concerns about the reliability of these costs.
GF broker offers high leverage of up to 1:500, which can be appealing to traders looking to maximize their potential returns. However, high leverage also increases the risk of significant losses, and traders should approach it with caution.
The only trading platform available at GF broker is its proprietary GFB Trader. While functional, it lacks many advanced features found in established platforms like MT4 and MT5, particularly in terms of automated trading strategies.
GF broker appears to target traders primarily from the former Soviet Union countries. However, it is crucial to note that several regulators have issued warnings against this broker, suggesting that it may not be suitable for traders from various regions.
Customer support options at GF broker are limited, with no clear indication of available languages. The lack of customer support and transparency can be a significant drawback for potential clients.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions (3/10): The account conditions are not favorable, considering the lack of transparency and regulatory protection. The minimum deposit is low, but the risks associated with offshore brokers are significant.
Tools and Resources (4/10): GF broker's proprietary platform provides basic functionalities but lacks the advanced features and tools that traders expect from industry-standard platforms like MT4 and MT5.
Customer Service and Support (2/10): Customer support is notably lacking, with limited options for assistance and no clear information on available support languages. This can lead to frustration among users seeking help.
Trading Setup (5/10): The trading experience is average, with variable spreads and high leverage. However, the lack of a reputable regulatory framework diminishes the overall trading environment's appeal.
Trustworthiness (2/10): Multiple regulatory warnings and the broker's offshore status contribute to a low trust rating. Traders are advised to be cautious and consider more reputable alternatives.
User Experience (3/10): Overall user experience is hindered by limited resources and support, along with concerns about the broker's legitimacy and trustworthiness.
In conclusion, while GF broker offers some attractive trading conditions, the overwhelming consensus from various reviews suggests that traders should approach with caution. The lack of regulatory oversight, negative user experiences, and the absence of a well-established trading platform raise significant red flags. As always, potential traders are advised to conduct thorough research and consider safer, more reputable alternatives before committing their funds.
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