GCG 24 (Global Consulting Group) is an unlicensed Forex broker that is owned by FM Consulting.
GCG 24 shows an address of: Suite 305, Griffith Corporate Centre Beachmont Box 1510 Kingstown, St. Vincent and Grenadines. Their contact phone number is now: +441772368050, and their email address is: [email protected]. Official website is: gcg24.com.
Complaints and withdrawal problems should read this.
GCG24 Broker Review
The Forex and CFD trading software that GCG 24 is using for trading is made by a company called Airsoft. Look at the screenshot below to see how the software looks. You will have a wide variety of assets available to trade.
CFD Trading is available on Forex, Commodities, Stocks, Indices, ETF, and Bonds. They have three binary options types called Short Term, Long Term & Count Down. The options are they regulars high/low binary options with varying expiry times. Time ranges from 60 seconds to as far out at six months.
Investors are given play money bonuses into their trading account and the amount depends on your initial deposit amount. Bonus money is the largest reason for complaints against brokers, because people do not understand the conditions attached to it. Before you accept a bonus, make sure you read the terms and conditions for full details. GCG24’s website and trading platform is available in English, German or Russian, and the minimum deposit required for new accounts is $250.
WARNING: If you plan on using an automated trading software, first learn how the Scam works… read this.
According to the GCG24’s terms and conditions page; You May Not Use, Under Any Circumstances, Any Software Which Automatically Accesses Or Operates On GCG24’s Systems, Websites Or Systems, Unless Such Software Is Officially Provided By GCG24.
Is GCG24 Legit?
No, GCG24 is not a licensed broker. Recently, the FMA in Austria warned investors about this broker.
The Scam Broker Investigator uses a simple test when reviewing forex or binary options brokers to determine if this broker is a legitimate company or a scam broker. The first thing we look to see is if they are licensed and regulated by the FCA in United Kingdom, CySEC in Cyprus, or ASIC Australia. You may want to consider the many licensed and regulated brokers available, look here.
Warning from ASIC Australia – “ASIC urges all investors considering trading in binary or forex to check they are dealing with an entity that holds an Australian financial services licence.”
Compare GCG 24
There are hundreds of forex and binary options brokers to choose from, but you should start with the popular ones listed here.
Are you an existing client of GCG 24 ? Please share your experience with the other investors reading this review, in the comments section below.