GigaFX (Gigafx.com) is a CFDs, Crypto and Forex brutal scam broker to hit the scene. Giga FX is on the verge of being banned by major regulatory bodies for scandalous services. Complaints have been sent to us by users who have been conned by GIGAFX. An investigation was underway to help reveal what this broker is all about. Read this detailed and honest review to find out the whole truth.
With every review, we always advocate to newbie traders to do a thorough investigation before signing up with any broker. GigaFX is no different as they are a scam that is shamelessly stealing from anyone who signs up. Fact is, scammers know for a fact that we all want to make an extra buck or two. That’s why they always come up with fast and quick solutions to this need of making money.
First thing a scammer will do is throw in claims and promises that are hard to resist. Giga FX has created a website that is attractive and easily convincing. Grabbing your attention is the first step that scammers take to get users to sign up. Next, they will claim to help you make money with their brokerage services. Promises such as Tight spreads, speedy trade executions and 1:150 leverage are used. Read this whole review and get real answers.
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Disclaimer at the bottom of the homepage shows that Four Square International Ventures LTD owns this brokerage firm. According to the details, this company is registered in the Commonwealth of Dominica. What this reveals is that users are dealing with an offshore broker.
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That’s not all, website shows no details regarding who actually owns this platform. No names have been given to us as to who the real owners of this brokerage firm are. Why have they failed to give us names of CEO or CFO of this company? Answer is simple, these fraudsters want to remain anonymous. Anonymity is a dangerous character to have as a broker, it makes GigaFX untrustworthy.
Looking at their homepage, they fail to give us their licensing number or registration number. It’s clear we are dealing with a rogue broker who will do anything to get people to sign up. An unregistered broker is bad news for any investor.
Nowhere has GigaFX posted any certificates or documents to prove that they have been licensed or registered. Also, offshore brokers have never gone for regulation since they know they won’t pass the required standards.
GigaFX offers users four different account types to choose from. They include Starters account. Silver account, Gold account, and Premium Account. Starters account holders don’t get webinars and an experienced consultant. First two account holders also don’t get daily market alerts or one on one training.
Premium account holders get daily market alerts, one on one training, and expert training. One visible advantage with Premium account holders is that they get a personal bonus policy. Problem with this broker is that they fail to give any information regarding minimum required deposit. Giga FX fails to disclose this for unknown reasons.
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GigaFX offers two different platforms to choose from. Users can either use the webtrader platform or Giga MT4 trading platform. What we did to test their platform was try and download their platform on various devices.
A platform that does not complete download is a clear indication that it’s unstable. An unstable platform is bad news for any investors as they leave users vulnerable. Hackers easily take over unstable platforms to steal personal data and credit card information. Signing up with GigaFX will leave you open to cyber-attacks.
Funds are never safe with an offshore broker as well as an unregistered one. First, this broker fails to disclose who their banking partner is. Where do they deposit all the money deposited by users? Failure to disclose this information is tantamount to hiding vital information. Did you know that users maybe depositing money straight to the owner’s personal bank account?
Another disturbing detail with this broker is that they don’t segregate accounts. What GigaFX is doing is pooling funds in one account. Folks, this is a very dangerous practice as these accounts maybe closed without warning. A good example is when this broker faces bankruptcy or insolvency, funds will be lost for good. There’s no compensation scheme set up with this broker, that makes them unreliable.
With this day and age, one would expect that a broker such as this offers live chat support. There’s no chat dashboard where users can contact the firm’s technical team for assistance. Very least of things they would have done is offer bot services. Not that we are for bot chat services, but they at least help answer small questions. This broker ensures that there’s no one on one contact.
As we earlier said, anonymity is a dangerous character to have as a broker. It seems that all what this broker wants is, to remain anonymous at all times. How can a broker just give out an email address for members to use when sending emails? Emails are not reliable since they take time to get response. This is a clear sign that we are dealing with a Forex broker who wants to remain anonymous at all times.
GigaFX is definitely a scam in the making. This broker has been stealing funds from users immediately they sign up. What we are advocating is for investors to ignore their pleas of signing up. They have a vigorous email marketing team that constantly sends emails. Mark all their emails as Spam and never click on any links sent by them. This way, you will avoid being their next victim.
Option left for us is to add this brokerage firm to our scam blacklist. Folks, this is a brokerage firm that needs to be investigated by relevant authorities. And this will ensure that all investors are kept safe from this scam broker. Make sure to warn your friends and relatives from signing up with this broker.
Always go for Industry Approved and Recommended Forex brokers at all times. Stay safe and start making real profits with Reliable and Transparent Forex brokers. A proven way to be successful with Forex trading is having an expert to back you. Sign up with Accountable Forex brokers today and start making money.
Finally, we wish you all the best in your Forex trading experience.
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