GFX-Some important Details about This Broker
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.
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