GFE Markets is an unregulated offshore broker that started providing trading services in April 2022. However, the first website is already inaccessible, and they operate under a new domain. While we cannot know for sure if the issue is temporary, we have enough experience with scammers that vanished with clients’ funds.
Read our honest GFE Markets review and find out what to do if scammed.
Also remember the names of theRevolutExpert,PibexaandCryptocycletrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||GFE Management Ltd|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||Forex, commodities, indices, shares, crypto|
|Free Demo Account:||No|
|Accepts US clients:||No|
GFE Markets Is A Safe and Reliable Forex Trading Platform?
GFE Markets is a brand of GFE Management Ltd, registered in Saint Vincent and the Grenadines. This offshore island is a notorious HQ of unregulated trading firms thanks to the lack of regulatory supervision.
Since FSA declared itself unauthorized for Forex, CFD, and binary options trading firms, brokers in SVG are under the radar. They are obligated to get a license from the local authorities, but the majority of them don’t do so. Therefore, we have a number of fraudsters, including the GFE Markets broker here.
Reasons Not to Trust an Unlicensed Broker
Unlicensed brokers didn’t get a license because they could not or were unwilling to fulfill the criteria. Tier1 authorities require a large sum of operational capital to ensure the broker’s solvency. Further, legitimate brokers must be transparent, keep clients’ funds in segregated accounts, and limit leverage.
None of these apply to unregulated scammers. They can vanish anytime, and it seems that GFE Markets tried just that.
How Reliable Is GFE Markets Broker?
GFE Markets is an online financial brokerage whose old website is currently inactive. The owner is based offshore and has no valid regulations for providing Forex and CFD trading.
What Do Traders Think Of GFE Markets?
We’ll show you some recent GFE Markets reviews and clients’ experiences with the brokerage.
“It is like a hell dealing with GFE Markets. I opened an account with them and made a deposit with 12250$. Now there is no way to get my money back. I placed many withdrawal and they cancelled all of them. I en route to duty case to try to get my money from this scammer.”
– Trustpilot Customer
What Platform Does GFE Markets Provide?
As expected from a fraudulent firm, GFE Markets didn’t bother too much about the trading platform. Customers got access to a WebTrader that can easily be described as a TradingView chart. It’s a free tool you can find anywhere online.
While this web-based software has several indicators, it doesn’t make it great software, rather barely functional. Instead of wasting your time with such, you can find a legit firm with MT4 or MT5 on offer.
GFE Markets Accounts Overview
GFE Markets has five account types on offer, each requiring an insanely large sum of money.
Of course, there’s no risk-free Demo account.
In addition, we strongly advise you not to invest inRoboFXtrade,Green CapitalzandBitnexLtdfraudulent brokers.
Changing The Domain – Hiding Past Fraud
GFE Markets has a new domain, gfemarket.com. However, this domain only has a Home page. All other pages are related to the inactive domain gfemarkets.com which is no longer available.
As this is the case, we have all the reasons to believe that GFE Markets tried to hide its nature and convince investors that they’re dealing with two different companies. Don’t be deceived, and don’t fall for this cheap trick.
GFE Markets – Countries Of Service
GFE Markets mainly does its business in:
GFE Markets Range of Trading Markets
The brokerage allows trading in all major markets, including:
- Forex – EUR/USD, GBP/CAD, USD/NOK
- Indices – DJIA, NASDAQ, DAX30
- Shares – BMW, Nvidia, Amazon
- Cryptocurrencies – BTC, ETH, XRP
- Commodities – gold, natural gas, palladium.
Despite the solid range of trading assets, we’re still talking about offshore fraud.
What Is Known About GFE Markets’ Trading Conditions?
You need a legitimate company if you’re looking for a broker with favorable trading conditions. Despite what GFE Markets and similar phony platforms advertise, they don’t deliver. Relying on unlicensed scammers to be honest about commissions is equal to gambling. Thus, you need a regulated firm.
Leverage and Spreads
GFE Markets offers leverage of up to 1:500. This cap is significantly lower in the EU and UK but also in the US. The spread stands at 1 pip for EUR/USD pair, which would be solid. Since the firm is unregulated, it means nothing.
GFE Markets’ bonus clause is ridiculous. According to it, clients need to have a minimum trading volume of 1 lot for each $1 they receive.
Practically, you need 200 lots equal to $2 million for the $200 bonus. Yes, it’s outrageous and made to prevent you from withdrawals.
GFE Markets Minimum Deposit, Withdrawal Terms
The Account Types section shows a minimum deposit of $10,000. We’re unsure if it’s possible to deposit anything less, but if not, it’s a straight reason to avoid the firm.
Since Withdrawal Policy doesn’t exist, we’re unable to specify the terms. The same thing we can tell to deposit and withdrawal methods, as those remained unspecified as well.
Scammed by GFE Markets Broker? – Let Us Hear Your Story
If you have been scammed by GFE Markets, you have to report it immediately. Your timely report can help us start the chargeback procedure and recover your funds. It can also help thousands of others defrauded by the same scheme firm.
But What Is A Chargeback?
A chargeback is a way for the bank to reverse the transaction. If you have deposited funds through your credit card, you have up to 540 days to file a dispute. Book a free consultation with our experts now, and let’s begin!