Grand Pacific Trade is a new CFD Forex broker for 2022, that is not licensed or regulated. As of October 2023, their website no longer works. Another exit scam.
This broker is targeting investors in Australia without holding an ASIC license. What was your experience investing with the brokers at Grand Pacific Trade? Please share your review in the comments section below.
If you have a broker complaint or are having problems making a withdrawal, read this.
Grand Pacific Trade Reviews
Our review of the new broker Grand Pacific Trade finds, that their clients and investors get access to a basic and simple web-based Forex trading platform. You will not find the MT4 or MT5 trading platform available, and also, they don’t have a mobile trading app. You can create multiple demo trading accounts to test out the trading platform.
They offer a wide variety of assets to trade including; Forex / Currency pairs, Commodities (oil, gold silver), Indices and CFD’s for shares trading. A quick check of their trading conditions for Bitcoin shows an unreasonably wide spread of $1200.
Many new investors look for offshore brokers with high leverage because they believe they will make money easier that way. The reality is, trading with high leverage is risky, and since new traders don’t understand the risks, they quickly lose all their money.
Minimum deposit required for a new trading account at Grand Pacific Trade is officially $250. Deposits can be made via wire transfer. Shortly after you signed up, you probably already received a phone call from their salesman asking for your deposit. It is interesting that they show Retirement Plan on their account types page. CFD trading is not a long term solution for building wealth. Most people trading CFDs are looking to make short term money.
Is Grand Pacific Trade Legit?
No, Grand Pacific Trade is not licensed or regulated by any of the reputable government regulators. Apparently they are also targeting clients in Sweden, and the Swedish regulator FI warned investors to stay away.
They are officially located in Saint Vincent & Grenadines, with a contact phone number of: +611800961550. Contact email address is: [email protected]. Official website: https://GrandPacificTrade.com/.
When the Scam Broker Investigator reviews a new Forex or Crypto broker to determine if they are legit or a scam, we first look for a valid brokers license. In recent months, we have seen many scam unlicensed brokers, disappear and go out of business. The best brokers are always licensed by ASIC Australia, the FCA in England or your local governments financial regulator.
Smart investors will always use a licensed broker, because of the protection you are afforded from their financial regulator.
Scam Trading Apps
We stumbled across an advertisement for an automated trading app called Tesler Investments. They offered a free automated trading system, which makes money from Crypto trading. After we signed up for the app, we were redirected to the brokers Grand Pacific.
The problem is that there was actually no trading app, and it was just a gimmick to get us to sign up for this broker.
When looking for automated trading solutions, see what the brokers AvaTrade offers.
Compare Forex Brokers
Smart investors always review a few different brokers before making a final decision, See the best brokers list.
ForTrade is a popular broker in Australia and Europe, that is licensed and authorised by the FCA and ASIC, see here.
See a Free Demo Account at: ForTrade.com.