Grand FX Pro (Grandfxpro.com) is a CFDs and Forex brokerage firm which claims to be the best in Europe. We had to check out why they claimed to be the best in Europe. We decided to investigate and dig deep into their trading platform. What we found out will shock you. GrandFXPro is not to be trusted in any way. Read on this detailed review and find out the whole truth.
According to the website, this trading platform is one of the best. However, we beg to differ. We found a lot of misleading information regarding Grand FX Pro. They claim to have a dedicated support staff that is ever present. This support staff will apparently guide you in making successful trades. This is not the case as we will prove later on this review.
Claims of Grand FX Pro using the latest and leading security systems is also not true. They claim that all payments and personal data are 100% encrypted. This cannot be further from the truth. We will also reveal their security risks which should be a major concern. Another trickery we will expose is their 48hour withdrawal plan. This also a false statement meant to entice users into signing up.
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GrandFXPro offers three kinds of trading platform. You can use their mobile app, web trader or their desktop platform. One of the claims they make is that you can easily download their mobile trading app. Once downloading, it will enable users to trade on the go. You can also choose their web-based platform. No need to download or install their web trader.
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Desktop platform is as they claim, their most prized trading platform in the industry. Problem we have with this statement is that we tried downloading these platforms. Problem with their mobile and desktop platform is that download stalled. Yes, when you try to download their platform, your download progress stops ate 23%. This is a clear indication we are dealing with a scam.
Grand FX Pro claims to have over 200,000 active trading accounts. Problem with this is that we could not verify whether it’s true or not. What we know is there are thousands of online complaints from users who lost substantial amounts of money. This is why we are claiming that this forex broker is nothing but trouble.
Another fake claim is that they have over $50M annual trading volume. This is also another claim that we cannot verify. How can they have such a high trade volume and not be recognized by any regulatory institution? Simply because we are dealing with a professional scam. People behind this scam are seasoned scam artists and know how to entice people. They simply want you to believe that their trading platform is real, which it isn’t.
You can easily be fooled with the claim that GrandFXPro offers an advanced risk management tool. Claims include account leverage, stop limit and loss, price alerts and negative balance protection. Problem with this is that we could not verify this statement. They also claim to offer bonuses to members.
You should know by now that issuing of bonuses is prohibited. No one should issue bonuses when it comes to forex trading. All regulatory bodies have issued a ban on bonuses since they are used to trap users. You will be asked to pay for the bonuses used when asking for withdrawals. Most users have had this problem of withdrawing due to bonus related claims.
GrandFXPro is apparently based in Saint Vincent and the Grenadines. It automatically means we are dealing with an offshore broker. This broker does not follow the strict rules and guidelines set by the regulatory bodies. We contacted some of the well-known regulatory bodies to check whether Grand FX Pro is regulated. What we found out means we are definitely dealing with scam artists.
First, we contacted the FCA and they told us they have never regulated Grand FX Pro. We later called CySEC and they too have never regulated GrandFXPro. This means that the entity uses its own regulations. It means depositing money with them means you are opening yourself to risks. Your money will never be recovered if lost. This is one reason scammers take advantage of being offshore.
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We checked with the registrar of companies and no mention of registering such a company. There’s no name that has been mentioned using GrandFXPro. This is a scam company that will close after signing as many members as they possibly can. With a forex broker that isn’t registered, it means there’s no safety of funds.
When you visit their homepage, you will clearly see claims of live chat support. If you look closely, there’s no support dashboard. This means that they are telling lies. How can they be reached? Only platform they claim is email. We tried calling them and our calls went unanswered. No one should give them a chance of making money. Grand FX Pro is full of scam trickery that we will reveal without a shadow of doubt.
One error these scammers failed to notice is their calculator page. Once you try to click on it, No Error found message pops up. It means that they don’t actually have a calculator. And if they do, its down. How can they trade when their own calculator is down? What are they using to calculate their trades? This is why we believe we have busted this scam. Legitimate and real platforms have working calculators to help newbie traders make good calls.
Another alarming factor when dealing with GrandFXPro is that they don’t have a company profile. Contrary to their claims, when you try to go to their company profile page, nothing is listed. All you see is an image of people sitting around a boardroom. We thought we would have a look at the company’s profile.
The reason why the profile is missing is because they aren’t any. One, the company is fake, two, they are not legit traders, don’t expect to have a real profile. This is another reason we claim that Grand FX Pro must be stopped.
Yes, we are dealing with a scam. From their no-show platform to their unregulated company, we are dealing with a scam broker. We are urging everyone to ignore all Spam mail asking them to join this fake brokerage firm.
This is without a doubt one of the worst scam brokerage firms we have seen in years. No one should be allowed to spoil the good binary trading name. With this, we have no doubt but to blacklist Grand FX Pro as a Forex scam.
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