GPB FS Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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My familily registered in this platform last week. The account balance was over 240,000 after depositing and trading. But he was told that he operated illegally and have to pay 20% margin. Besides, we are not allowed to witdhraw capital, either. Now I expose this platform. Hope you can invest carefully.
Summary: GPB FS is a regulated forex and CFD broker based in Cyprus, receiving mixed feedback from users. While many commend its educational resources and regulatory compliance, there are concerns regarding withdrawal processes and customer service experiences.
Note: It is essential to recognize that GPB FS operates under different entities across regions, which may influence user experiences and regulatory oversight. This review aggregates information from various sources to provide a balanced perspective.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 6.5 |
| Tools and Resources | 7.0 |
| Customer Service and Support | 5.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 7.5 |
| User Experience | 6.0 |
How We Rated the Broker: Ratings are based on user reviews, expert opinions, and factual data regarding GPB FSs offerings and performance.
Founded in 2009, GPB FS (GPB Financial Services Limited) is a financial services provider based in Limassol, Cyprus. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which allows it to operate under the MiFID framework across the European Union. GPB FS offers access to various trading instruments, including forex, CFDs, commodities, and indices. However, it does not support popular trading platforms like MT4 or MT5, which may limit options for some traders.
Regulated Geographical Areas: GPB FS is primarily regulated in Cyprus, allowing it to passport its services across EU countries. This regulatory framework provides a level of security for traders, as it adheres to strict compliance standards.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker accepts various currencies for deposits and withdrawals, but specific details on supported cryptocurrencies are not prominently mentioned in the sources.
Minimum Deposit: The minimum deposit requirement is reported to be competitive, although exact figures vary across reviews.
Bonuses/Promotions: GPB FS has been noted to offer bonuses for new customers opening accounts, which can be an attractive feature for prospective traders.
Tradable Asset Classes: The broker provides access to forex pairs, CFDs on commodities, and indices. However, the lack of diversity in asset classes may be a drawback for some traders.
Costs (Spreads, Fees, Commissions): The cost structure appears favorable, with many reviews indicating low or no commissions on trades. Spreads are competitive, but the absence of detailed information on fees could be a concern for cost-conscious traders.
Leverage: GPB FS offers leverage, but specific ratios are not consistently mentioned across the reviews, requiring traders to verify this information directly with the broker.
Allowed Trading Platforms: As previously mentioned, GPB FS does not support MT4 or MT5, which may deter some traders accustomed to these platforms. Instead, it offers its proprietary trading platform.
Restricted Regions: The broker does not explicitly mention restricted regions, but it primarily serves clients in Europe and may have limitations in other jurisdictions.
Available Customer Service Languages: Customer support is available in multiple languages, enhancing accessibility for a diverse clientele.
Account Conditions (Rating: 6.5): GPB FS offers a straightforward account setup process, but the lack of varied account types may limit options for advanced traders. According to PediaFX, the absence of different account tiers could be a disadvantage for those seeking tailored trading experiences.
Tools and Resources (Rating: 7.0): The broker provides a range of educational resources and market analysis tools, which are particularly beneficial for novice traders. Many users have praised the educational content available, making it a viable option for beginners.
Customer Service and Support (Rating: 5.5): User reviews have indicated mixed experiences with customer support. Some users reported delays in response times and difficulties in resolving issues, which could be a significant drawback for traders needing immediate assistance. For instance, a review on WikiBit highlighted issues with withdrawal processes, raising concerns about the overall reliability of customer support.
Trading Setup (Experience) (Rating: 6.0): While the trading experience is generally smooth, the lack of support for popular platforms like MT4 and MT5 may deter experienced traders. The proprietary platform may not meet all traders' needs, particularly those looking for advanced trading functionalities.
Trustworthiness (Rating: 7.5): GPB FS is regulated by CySEC, which adds a layer of trustworthiness. Many reviews indicate that the broker is generally reliable, with no significant red flags raised against it. However, some user experiences regarding withdrawals could impact its overall trust rating.
User Experience (Rating: 6.0): Overall, user reviews reflect a mixed experience. While many appreciate the educational resources and regulatory compliance, issues with customer service and withdrawal processes have been noted, suggesting that potential clients should proceed with caution.
In summary, GPB FS offers a range of features appealing to both novice and experienced traders, but it is essential to weigh the pros and cons carefully. The mixed user experiences, particularly regarding customer service, warrant a cautious approach. Always ensure to conduct thorough research and consider personal trading needs before engaging with any broker, including GPB FS.
