GF Markets is a typical offshore scam based in Saint Vincent and the Grenadines. We’ve had a chance to review numerous brokers from this country, and most of the time, they were fraudulent. Whether or not GF Markets is the same? Find out in this review.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | gfmarketsllc.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | GF Markets LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2019 |
| Supported Platforms: | MT5 |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:200 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is GF Markets a Secure And Regulated Platform?
GF Markets belongs to GF Markets LLC, registered in Saint Vincent and the Grenadines. This offshore island has no financial regulator, which is why it has become a hub for illicit investment firms. The Financial Services Authority has indicated that all brokers should opt for a license in the country of service. Therefore, GF Markets should be regulated by the FCA, ASIC, BaFin, or any other Tier1 regulator. Of course, the firm hasn’t followed the indication and has never opted for a license.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers are not safe. You have no money-back guarantee without a valid regulation, and a compensation fund ensured with Tier1 regulated firms. All you can do is wait for the broker to return your funds voluntarily, which has never happened. Therefore, you have all the reasons to avoid GF Markets and similar bogus firms.
Furthermore, we strongly urge you to stay away from 4xhub, Global Profit, and XE Prime fake brokers.
Traders’ Experiences With GF Markets
GF Markets is not a legal broker, as reviews point out. The majority of investors have had issues with withdrawals and are seeking a way to get their money back. In fact, this firm’s employees went so far as to steal clients’ money directly from their bank using AnyDesk and TeamViewer.
If you have been scammed by GF Markets, report it right away.
Is GF Markets a Legitimate Broker Or A Fraud?
GF Markets is a scam broker. The company is registered in Saint Vincent and the Grenadines and has no license. The consumer index is 1, indicating that this Forex and CFD trading provider cannot be trusted.
GF Markets Offers Trading on MetaTrader 5 – Platform Features
MetaTrader5 is a successor to MT4 and the most advanced trading platform. There are many trading indicators and charts, and the platform enables different unique features, such as social trading and automated trading. Yet, you’re still at risk when an illicit firm provides good software. GF Markets decides on its own trading conditions without regulatory oversight.
Mobile Trading – MT5 for Android and iOS
All MT5 comes with a dedicated mobile app for Android and iOS. Regardless of the platform, this firm is still shady. Once again, we urge you to think before investing.
All About GF Markets Accounts
Customers can choose between:
- Standard Trading Account – $250
- Gold – $10,000
- Platinum – $50,000
- VIP – $100,000
The only difference listed on the website is the spread, lower with each upgrade.
Demo Account
GF Markets doesn’t have a Demo account. Customers will have to test the system with their own funds, which is never recommended.
GF Markets Broker – Countries Of Service
The broker is mainly active in:
- France
- Italy
- Cyprus
Since all these are EU countries, the firm needs an EU passport to operate. Yet, as proven, the broker is entirely unregulated.
GF Markets Range of Trading Instruments & Markets
GF Markets enables trading in all 5 major markets, including:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil, natural gas
- Indices – NASDAQ, Dow Jones
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, LTC, ETH
Also, remember the names of the trading frauds SwissFXM, GulfBulls, and Strategic FX trading scams and avoid them at all costs! Furthermore, before investing, always check the background of internet trading organizations!
GF Markets Trading Conditions
All unregulated brokers decide on their own trading conditions, and that’s quite dangerous.
About Leverage And Spreads
GF Markets has leverage fixed at 1:200 for all account types. EU and UK regulators allow 1:30, while in the US and Australia, the limit is 1:50. Thus, your funds are at risk with GF Markets. The spread is quite solid, but the broker is not. So be careful.
GF Markets Deposit, Withdrawal Methods, and Fees
The company accepts many payment methods but charges some hefty fees. Here’s the overview.
What Payment Methods Does the Broker Accept?
You can deposit your funds using:
- Debit/credit cards
- E-wallets
- Crypto
- Wire transfer
For withdrawals, fees go from 3-5% for wire transfers, 3.2-4.5% for e-wallets, and 3% for crypto, to 8% for card withdrawals. Quite a lot and quite unnecessary.
Minimum Investment Amount
The broker asks for a standard minimum deposit of $250. However, there are a lot of issues with this firm that we have already listed throughout this review. It’s clear that your funds are not safe, and you have no money-back guarantee. If you still wish to deposit, we advise you to avoid crypto, as these transactions are hard to follow. Instead, use your credit card and you have up to 540 days to request a chargeback.
Customer Support – Communication Channels
GF Markets advertises on different social media and generally all over the internet. Once you sign up for trading, you will be contacted through mobile and email. Sometimes, you may receive WhatsApp or Telegram messages with different promotions.
If you never register to trade, broker customers and employees may try to lure you through social media, such as FB and Instagram messages and comments.
Scammed by GF Markets Broker? – Let Us Hear Your Story
If you were scammed by GF Markets or a similar bogus broker, let us know. Our chargeback specialists will evaluate your case and find a way to help you recover your funds.
But What Is A Chargeback?
This is a way for your bank to recover the funds directly from the merchant. Contact us via online chat to book a free consultation, and let’s get your money back before it’s too late.