GFE Markets is an offshore Forex / Crypto broker, that opened on April 27th 2022. Just like you, we found this broker when we registered for one of those Crypto trading apps, which advertise on Fake News websites.
Many investors have problems withdrawing their money from an offshore brokers, read more.
GFE Markets Reviews
Our review of the new brokerage firm GFE Markets quickly discovered that they are offering the white-label Forex / Crypto CFD trading platform from Finantick. This trading platform offers you a variety of underlying assets for CFD trading in the category of: Forex, Crypto, Market Indexes, Shared and Commodities. TradingView charts are the default charting software on this platform.
Serious investors will not find a mobile trading app on Google Play / iTunes, nor will they see the popular trading platforms from MT5 or MT4. The minimum deposit for a new trading account is usually $250, when dealing with a broker like this one. They will require you to “verify” your account before making a deposit.
Offshore brokers tend to offer higher margin rates than the licensed brokers. At GFE Markets, the leverage offered on Forex is as high as 200:1, and on Crypto 10:1. You can find popular Crypto and Forex trading apps, listed here.
Is GFE Markets a Legit Broker?
No, GFE Markets does not have a license, which means they are not a regulated broker.
They mentioned on their website that they operate like a regulated broker and have applied for a license. However, They do not mention which country they applied for a license from. Any broker that plans on getting a license does not accept clients until they are fully licensed and regulated
As you can see in the screenshot provided, they claim to have 100,000 customers. If you look at this broker, which has been around for over 10 years, you will see that they don’t even have 200,000 active clients.
The actual company that owns this broker is GFE Management Ltd (3432 LTD 2022). They too are located at: First Floor, First St. Vincent Bank Ltd, James Street, Kingstown, St. Vincent and the Grenadines.
Warning from the Financial Services Authority in SVG; “Forex trading brokerage activities are not licensed in St. Vincent and the Grenadines.” read more.
Scam Broker Investigator has reviewed hundreds of online brokers, to see if they are scams or a legitimate broker. The proper way to research your broker, is by checking to see if they are licensed by the financial regulator in your country. No matter where you live, you should only be using a regulated broker.
Read the reviews of popular licensed CFD brokers listed here.
You have hundreds of brokers to choose from online, therefore, you should try out an established regulated broker first.
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If you are already currently investing with GFE Markets, share your experience in the comments section below.