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GFC Mercado Review: Gfcmercado.com Drab Broker Scam

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GFC Mercado Review: Gfcmercado.com Drab Broker Scam

GFC Mercado (Gfcmercado.com) is a Forex platform which is targeting Spanish investors. GFCMercado is claiming to be based in Mexico and offers a revolutionary way of trading in the market. Global Financial Contracts Mercado is professing to have a sophisticated trading experience. They say traders will use their sophisticated platform without having to put their money at risk. Read this genuine and transparent GFC MERCADO Review to find out more.

GFC Mercado Review

About GFC Mercado

When it comes to the authenticity of this platform, a lot leaves to be desired. No company information has been listed on the entire trading website. Information regarding the founding members of staff members is missing. With a real trading platform, you will get social media handles of staff members making interaction real. Without a shadow of doubt, we smell something fishy with this platform. With the complaints around the web, we had to conduct a thorough investigation regarding GFC Mercado.

The online trading world can be tricky to say the least. And this is why you need a tested and trusted broker to help you navigate the online trading world. GFC Mercado is not one to be trusted with your funds. A lot of members are up in arms over the failure of the platform to release funds. And this is one of the many reasons why we list it as a scam. Investors should have the right to make withdrawals at any time of the day. Without any withdrawals made, it makes no sense signing up with them.

Assets Offered

GFC Mercado is claiming to offer a number of trading assets. Top among them include CFDs, Forex, Spot, and Stocks. The problem with their website is that it gives no information regarding leverage and spreads used. From the withdrawal form we saw, we believe the platform offers a few currency pairs. Some of the currency traded on the platform includes CAD, EUR, GBP, JPN, MXN, and USD. Not much is given in regards to how the currency pairs work or if there is any fees involved.

Contact and Support

When it comes to contacting this platform, a lot leaves to be desired. To make contact, you need to send an email or call them. The problem with calling them is that the line is ever busy. And if you don’t speak Spanish, you will not be able to communicate with the agent. Writing emails is not commendable as you have to wait for weeks to get a response. An alternative to such dubious platforms is using genuine and transparent Forex trading robots. With approved Forex trading robots, you are guaranteed of a safe trading experience.

Demo Account

The platform claims to have a demo account which is not as advanced as one would think. Their demo account lacks several crucial tools such as indicators and speed of execution. Once you start using their demo account, you will notice how slow the platform gets when executing trades. A slow platform will put your funds at risk and never be able to help you with making any profit. And this is another concrete reason why you should stay away from this illicit trading platform.

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Domain Details

According to the domain register whois.net, the platform was created on 30th October 2007. How the platform has managed to steal from investors without being exposed remains a mystery. And this is why we feel it is our obligation to expose these scam artists. They have been waiting and stealing for a long time. Concerned authorities will soon investigate and shut their website down.

License and Registration of GFC Mercado

When it comes to their license and registration, things get murky. The entire website has no details of this platform becoming fully regulated. Disclaimer at the footer of their homepage suggests that they offer services in the US region. A closer look at the National Futures Association (NFA) reveals no such platform exists. And this is why you must stay away as your funds are not secure.

GFC Mercado Account Managers and Plans

We also looked at various online regulatory bodies from all over the world for more details. Some of them include the UK where GFC Mercado is claiming to have offices. The Financial Conduct Authority (FCA) does not have any platform registered under this name. GFC Mercado is NOT LICENSED OR REGULATED to offer trading services. They have not met the standards requires to offer trading services.

Limitations of GFC Mercado

Account Details

GFC Mercado is furnishing users with MAAM accounts; this is according to their account manager’s page. The main problem with GFC Mercado is failure to give full information on the acceptable minimum deposit. Traders have been asked to deposit insane amounts to start trading with this unlawful platform. The industry has set $250 as the acceptable required deposit to start trading.

Account Managers

The account managers with GFC Mercado have no trading experience. If they did, they don’t show it as more and more victims pop up. These victims gave up control of their accounts to these brokers. And the brokers went ahead and made substantial losses. It is normal for brokers to make losses, but not as what’s happening with the platform. The brokers are in league with other companies to fleece from unsuspecting investors. They make money as a result of investors losing funds.

Deposit and withdrawal

When it comes to account funding, GFC Mercado is not clear on their preferred method. No deposit channel has been listed on their entire platform. After depositing, they expected the funds to reflect on their accounts. Weeks passed without the balance reflecting and they immediately knew this was a scam. And this is why we must expose such platforms which openly steal from investors.

Trading Platform

According to details on their website, GFC Mercado is claiming to use MT4 trading platform. Everyone knows how important MT4 trading platform is, and scam artists want to be associated with it. Instead of offering this platform as their real tool of trade, they use a web based platform. The web based version is unstable and not compatible with most devices. Security is also an issue as no firewall is in place to protect against third party attacks.

Safety of funds with GFC Mercado

When it comes to how safe your funds are, it is clear GFC Mercado is not a reliable platform. Lack of segregation of accounts is proof we are dealing with a lousy platform. The truth is members are depositing funds straight to owner’s bank account. Stay away or else risk becoming one of their next victims.

Scam or legit

GFC Mercado Trading Platform

Evidence is clear that GFC Mercado is a scam waiting to pounce on unsuspecting investors. We hope that authorities will soon catch wind and stop this menace. Kindly warn your family and friends from joining any of their affiliate programs. With such a platform in the open, anyone can easily fall prey. Mark their emails as spam and never give out your personal contacts. Once they have your contact, they will bombard you with promotional materials. Stay safe by blocking all contact with this platform.

Verdict

We have to add this platform to our scam blacklist to help protect our readers. By keeping our readers informed, they are able to avert the dangers of associating with scam platforms.

Wishing all investors and online traders a safe trading period.

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