GFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-27 15:50

Abstract：GFXRoyal is an offshore forex broker registered in Marshall Islands, offering currency trading services for both retail and professional traders. GFX claims that it offers five trading accounts for traders to choose from.

　　Note: GFX's official website - https://www.gfxroyal.com/ is currently inaccessible normally.

GFX Review Summary
Founded	2019
Registered Country/Region	Marshall Islands
Regulation	No regulation
Market Instruments	Currency pairs, CFDs on indices, commodities, stocks, and cryptocurrencies
Demo Account	/
Leverage	Up to 1:5 (cryptocurrency)
Spread	6.2 pips (Explorer Account)
Trading Platform	Web Trader
Min Deposit	$500
Customer Support	Emai: support@gfxroyal.com

　　GFXRoyal is an offshore forex broker registered in Marshall Islands, offering currency trading services for both retail and professional traders. GFX claims that it offers five trading accounts for traders to choose from.

　　GFXRoyal says that it is the trading name of GFX Finance who belongs to CAPITTAL LETTER GMBH, German Investment Firm Incorporation: HRB242418, 23/07/18.

　　Please note that this brokerage is not subject to any regulatory authorities, please be aware of the risk.

Pros and Cons

Pros	Cons
Diverse tradable assets	Inaccessible website
Various accounts choices	Lack of regulation
	Wide spreads
	No MT4 or MT5
	High minimum deposit
	Limited payment options
	Inactivity fee charged
	Only email support

Is GFX Legit?

　　No, it is not regulated by the financial services regulatory authority in Marshall Islands, which means that the company lacks regulation from its registration site. Besides, AMF, a French regulatory authority issued a warning notice about this company. Therefore, please be aware of the potential risks!

What Can I Trade on GFX?

　　GFX offers several types of products, including currency pairs, CFDs on indices, commodities, stocks, and cryptocurrencies.

Tradable Instruments	Supported
Currency Pairs	✔
CFDs	✔
Indices	✔
Commodities	✔
Stocks	✔
Cryptocurrencies	✔
Bonds	❌
Options	❌
ETFs	❌

Leverage

　　Trading on cryptocurrencies can use leverage up to 1:5, while leverage for other particular instruments is not mentioned.

Account Type

　　GFX provides 5 types of accounts, including Explorer, Basic, Silver, Gold, and Platinum.

Account Type	Min Deposit	Max Deposit
Explorer	$500	$,2499
Basic	$2,500	$9,999
Silver	$10,000	$24,999
Gold	$25,000	$99,999
Platinum	$100,000	$499,999

Trading Platform

　　GFX uses a web-based platform, and it does not support MT4 or MT5.

Trading Platform	Supported	Available Devices	Suitable for
Web Trader	✔	Web	/
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders

Deposit and Withdrawal

　　GFX supports 3 types of payment options, including Wire Transfer, Vload, and Cashier. However, other details such as the processing time and fees are not clear.

Fees

　　If a trader did not login and trade from his account within three months, then his account will be subject to a deduction of 10% each month.