×
It's a CONFIRMED scam broker/company, recover your stolen funds by filling out the form below and you will get a FREE Mychargeback consultation today:
GrandFX Trade (Grandfx-trade.com) is claiming to have all the financial market opportunities in one place. Grand FX Trade is offering Cryptocurrency, Forex, Indices, Metals, and Stocks. The platform has a well-designed website which will fool any unsuspecting investor. They claim to offer negative balance protection with a team of professionals on standby. These claims are too good to be true. Read this genuine GRANDFX TRADE Review and find out more.
GFC Ltd is the company which claims to own and operate the platform. A closer look at various company registers in Europe shows no such entity exists. And this is one of the many reasons why we mark GrandFX Trade as a scam. Scam artists have been using random names to try and fool unsuspecting investors. And this is why you need to conduct a thorough research before joining any investment platform. To stay safe, it is recommended that traders use top rated brokers backed by experts and trading community.
GrandFX Trade is also claiming to be based in Belize, which doesn’t seem to be the case. We reached out to a few experts and traders to find out more about the platform. On most trading platforms, no broker or trader seems to recognize the platform. And this is concrete evidence we are dealing with a rotten online scam platform. It is best to stay away from it and never sign up with an anonymous trading platform. The best option to brokers is having tested and trusted Forex trading robots. With vetted Forex trading robots, your chances of winning increase by the day.
The platform offers four main assets for trading. These assets listed include Forex, metals, indices, and stocks. They claim to offer trading signals and projects coupled with a variety of assets. Traders are promised CFDs on commodities such as oil and stocks from companies such as Tesla. Remember that scam artists will do or say anything to try and make their platforms appear legit. Stay away from this platform and use recommended products listed by trading experts.
GrandFX Trade is offering bonuses to members and this is one of the main reasons to stay away. The industry has been having a huge problem with platforms that offer bonuses. These scam artists will never allow anyone to make withdrawals unless they pay back the bonuses. GrandFXTrade is offering bonuses in all their account types. Bonuses start at 10 percent and go to 45 percent. Stay away from platforms that offer bonuses. It is a plot to entice investors to deposit more funds hoping to get more bonus amounts.
A closer look at the trusted domain register whois.net reveals more in regards to the history of the platform. According to information on the platform’s homepage, they claim to have a wealth of trading experience. They also claim to have offered trading services for over five years. The domain register disapproves the statement as the website was created on 31st July 2019. And this proves the platform is barely a year old. These scam artists are fooling investors with claims of being reputable.
The platform claims to be located in Belize which means they have to be regulated by authorities in the region. According to the official regulatory body, there is no platform licensed under the name GrandFX Trade. We looked at the International Finance Services Commission (IFSC) website to verify their claims. The regulatory body’s search could not yield any results of a broker under the above name. And this is proof we are dealing with an anonymous and unregulated platform.
Unlicensed entities prove to be a risky venture as they don’t follow set industry regulations and rules. For instance, deposits made by investors are not insured as dictated by the law. Once you lose money due to the platform’s inefficiency, you won’t be compensated. GrandFX Trade is NOT LICENSED OR REGULATED to offer trading services. These scam artists are targeting European investors who have no trading experience. And this is why you read reviews to know which platform gets the green light to offer legit services.
GrandFX Trade is furnishing users with five account types to trade with. Accounts listed include Basic, Silver, Gold, Platinum, and Diamond. Leverage for the first three accounts is 1:200 while the last two have 1:500. Floating spreads vary from each account as the basic account holder gets spreads of 2.0. The problem with the basic account is you don’t get relevant trading features. Some of the missing features include capital insurance, dedicated manager, and trading signals.
When it comes to communication, the platform is way behind on effective methods. Their contact page has an email address and a phone number. They also go ahead and post a postal address in case you want to use it. The problem with their communication channels is that it is not instant. A live chat support team should be available for traders who want to trade safely. With live chat, you get to have one on one communication with a representative. The reason why they use such crude customer contact details is fear of being tracked by authorities.
GrandFX Trade is offering a wicked demo account which is far from your usual demo account. A demo account is crucial as it gives traders the chance to test how well the platform behaves. The demo account is used by traders to test the advanced tools and speed at which trades get executed. Their demo account is flawed as it gives traders unrealistic trading results. They do this on purpose hoping to lure investors to sign up with a real account. Traders should not commit to a trading platform without using a demo account.
The listed payment methods include Bank transfer, Bitcoin, MasterCard, and Visa. What we discourage is traders trying to deposit funds with this platform. They have used these channels as they are available from any corner of the globe. The problem with GrandFX Trade is that no one has been able to withdraw funds from its inception. Most members are angry with the fact that no one has been able to make any withdrawals. Stay away from it and never make the mistake of sharing your credit card information.
According to their platform’s page, GrandFX Trade is using a web trading platform. They even offer mobile trading which is odd considering their platform is unstable. Lack of rigorous testing leaves the platform open to third party attacks and makes them unstable. The case is so as their platform has no relevant security details such as DDoS protection. And it makes them an easy target for hackers who make a meal out of stealing credit card data.
When it comes to safety of funds, it is not a guarantee. Most members are up in arms with the platform’s inability to release funds. We also noticed GrandFX Trade is not segregating accounts as dictated by trading regulations. Instead, the platform is pooling funds in one account putting funds at risk. When the platform faces bankruptcy and insolvency, no member will be compensated. Stay away from platforms which never follow rules laid down by the industry regulatory framework.
Evidence is clear that we are dealing with an anonymous and unlicensed trading entity. Stay away from this platform as we are clearly marking GrandFX Trade a scam. Warn your family and friends from joining any of their affiliate programs. Mark their emails as spam and never receive calls from their personal managers. With the above precautions, you will avoid becoming their next victim.
We have to add this platform on our scam blacklist. Stay away from such platforms and use industry recommended products. Continue reading our reviews for more details on Forex trading products and services.
Wishing you the very best.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
0 Comments