category: Unregulated Brokers

Is Gemliteassetsltd Scam or Legit Broker?

It is not safe to trade with Gemliteassetsltd. On its website the broker praises its reliability, claiming that it conducts absolutely legal activities. However, as proof, the broker has nothing to display.

• Gemliteassetsltd is not a regulated broker and it does not hold any license – neither from a top-tier authority nor even an offshore one. This is a direct red flag and means that traders should stay away from investing with the company, no matter how attractive their offerings are.

What is Gemliteassetsltd?

Gemliteassetsltd positions itself as a leading financial investment platform providing access to over 4,000 funds and assets, from investments banking, stock Broking, fund escrow services, forex, Gold and Cryptocurrencies to ETFs and Assets, etc.

Gemliteassetsltd was established in 2001, incorporated in 2020, and started offering Cryptocurrencies in 2020.

• On its website, the broker’s address is Stirk House, Cross Lanes, Tollerton, England, YO61 1LP. This means the company is located in England, as there is no other information that states otherwise. However, all the companies located in England and offering financial services should hold a UK FCA license. In this case, it is evident that the broker is not FCA-regulated, as there is no mention of the license.
• Another important point is, that the broker mentions its FSO license No. CHE-399.474.466, yet, by further investigation we found that under the same license number, there is another financial company – BinuxFx (.binuxfx.com) and by the looks of it this is just the same company, with the same website interface, the same offerings and conditions. BinuxFX is also located in England, only the provided address is different (1 Great George St, London SW1P 3AA @51.501128,-0.129027, UK).
• Another issue with Gemliteassetsltd is the negative reviews. Clients complain about the services the broker provides. Especially, clients claim to face withdrawal problems, never being able to withdraw their profits or investments. Many reviews state that the broker is a total scam that only tries to get its hands into the traders’ funds.
• Besides, another thing that seems fishy and is a good ground for doubts, is that Gemliteassetsltd constantly tries to attract new customers, by contacting them via different social platforms and offering their services. Experience in the market shows that this is the way scam brokers operate. They find people interested in investments in different online platforms, make very attractive proposals to them, and later just vanish with the traders’ funds.

Overall Gemliteassetsltd Ranking

Because of the revelations in regard to the safety of Gemliteassetsltd, we do not rank positively Gemliteassetsltd, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• Gemliteassetsltd Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Gemliteassetsltd Alternative Brokers

Taking into account the issues we revealed about the Gemliteassetsltd safety and regulations, here are much better Alternatives to Gemliteassetsltd with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Capital Index – Good Trading Conditions
• ThinkMarkets – Competitive Spreads
• XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

Gemliteassetsltd offers different funding methods to make the process for its clients easier.

• The deposits are reflected on the account immediately once it is confirmed on the blockchain network. Traders can make as many deposits as they want, there is no limitation.
• When the withdrawal request is received, it is processed immediately and sent to the provided wallet address.
  For cryptocurrency investments, the minimum deposit starts from $100 for the Beginner’s plan. The Business plan deposits start from $10,000, and for the Executive plan, the deposit is $50,000.

Gemliteassetsltd Review Conclusion

It is not safe to trade with unregulated or offshore brokers, so we strongly recommend staying away from them. Traders should invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We recommend signing in with well-regulated brokers, such as eToro, BDSwiss, and HFM.

• Overall ranking and experience for Gemliteassetsltd is Negative

Is GemForex Scam or Legit Broker?

GemForex is not a safe broker to invest in. GemForex is a part of GemForex Limited which is regulated by the Seychelles Financial Services Authority (FSA), with the registration number 076092. The broker has been present in the market for more than a decade and offers good trading conditions, however, it does not hold any serious license. This means that trading with such a broker might be risky and jeopardize your investments.

• With the Seychelles Financial Services Authority, it is possible to start a company with minimum investments and requirements, without any obligatory business planning, management interview, or company background checking. This however means that the registered company does not follow strict guidelines or rules imposed by the authority as other top-tier regulatory bodies such as FCA or CySEC do.

What is GemForex?

GemForex is a Japanese online forex and CFD broker founded back in 2010. The broker is registered with the Seychelles Financial Services Authority (FSA). The registration address of the company is Vista Corporate Services Center, Suite 23, first floor, Eden Plaza, Eden Island, Mahe, Republic of Seychelles.

• When the company started in 2010, it was originally named GemTrade, and only later in 2014 it was renamed to GemForex, which is a brand name of the Gem Group Holdings LTD.
• GemForex offers high-quality services to beginner traders worldwide. It offers the industry-popular MetaTrader 4 and MetaTrader 5 platforms, and a selection of major instruments, including Forex (33 currency pairs), Energy CFDs, Index CFDs, etc.
• All in all, GemForex positions itself as a favorable broker with a long history and a number of awards. Yet, the fact that the broker does not hold a serious license is a big disadvantage in forex trading. It is founded by Japanese professional traders and offers services to the Japan residents. Still, it is not authorized by the Japan FSA, the body that oversees financial activities in the country.
• In forex trading, one of the first things that traders need to consider is the safety and security the broker can provide. In case of any problems, well-regulated brokers can offer compensation schemes and negative balance protection, whereas, in the case of offshore brokers none of these is applicable.
• Top-tier authorities such as ASIC, CySEC, or FCA provide compensation schemes and negative balance protection to the traders, as well as segregated accounts. On its website, the broker mentions that it provides account segregation for its clients, which is more typical for regulated brokers. If so, this is a huge advantage and a certain level of protection.
• GemForex is available in many countries worldwide, however, there are still regions where the broker is unavailable for trades: United States, Afghanistan, Belarus, Myanmar, Central African Republic, Congo, Cuba, Egypt, Guinea, Iraq, Iran, Libya, Mauritius, Pakistan, Somalia, Sudan, Syria, Venezuela, Yemen, Zimbabwe.

Overall GemForex Ranking

Taking into consideration our finds and revelations on the safety of GemForex, we do not rank positively GemForex, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• GemForex Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

GemForex Alternative Brokers

Based on our revelations in regard to GemForex safety and regulations issues, here are much better Alternatives to GemForex with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

The broker enables its client to fund their accounts through multiple methods, including Credit/Debit cards, wire transfers, Payoneer, UnionPay, Perfect Money, PayPal, Skrill, Neteller, and some other options.

• The minimum deposit for GemForex All-in-one account is $50. For the Elite and Raw account types the minimum deposit is $3,000.
• For the first withdrawal during the month, there are no applicable charges. Yet, for every next withdrawal, there is a 2% charge.
• It typically takes 3-5 business days for the withdrawals to be completed.

GemForex Review Conclusion

Our advice is to avoid non-regulated or offshore brokers as it is not safe to trade with them. GemForex offers good trading conditions and seems to be favorable, especially for beginner traders. However, the fact that it does not hold any serious license is enough reason to stay away from the broker.

Traders should invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We recommend signing in with well-regulated brokers, such as FP Markets, BDSwiss, and HFM.

• Overall ranking and experience for GemForex is Negative

Is CDG Global Scam or Legit Broker?

CDG Global is not a safe broker to invest in. The broker is located in Saint Vincent and the Grenadines with registration number 1726 LLC. CDG Global positions itself as a good and reliable broker with favorable offerings, however, it's common knowledge that Saint Vincent and the Grenadines is an offshore zone and does not provide enough protections for the trades to be called safe and secure.

• SVG FSA enables low set up requirements without requiring any business planning, management interview, or check of the company background. Thus, the registered company does not follow any strict guidelines, a handbook, or hold other regulatory obligations. This means, that by signing with SVG FSA -regulated brokers, traders risk their investments. Read our article about why to avoid Saint Vincent and the Grenadines registered brokers.

What is CDG Global?

CDG Global is a fast-growing broker focusing on B2B and institutional market segments. The company was founded by a team of FX industry veterans.

With CDG Global traders have an access to the most popular instruments; FX, Metals, Indices, Energies, Shares, Commodities, and Cryptos. The broker also enables STP/ECN technology. CDG Global offers a variety of trading accounts, including ECN and Islamic accounts.

• However, thorough research shows the other side of the coin. In fact, when it comes to the traders’ feedback, everything is not that bright. Traders report multiple issues regarding the safety of the broker, as well as issues with the withdrawal process.
• The broker’s website mentions low spreads and no additional commissions for a Standard account; however, the spread can be as high as 3 pips, which in itself is not a beneficial offering.
• CDG Global also mentions Negative balance protection on its website, however, offshore brokers do not commonly have negative balance protection, so this is perhaps one of the broker’s attempts to seem trustworthy and reliable.
• Trading environment, conditions, and safety are of utmost importance in Forex trading, and all of the mentioned are provided only by brokers that hold a license from the world's leading authorities, such as ASIC, FCA, or CySEC.
• And at last, the broker does not provide any address on its website which is a good ground for suspecious. The only contact information it provides is a phone number with a Malaysian code.  This might indicate that the broker is targeting traders from Malaysia. 

Overall CDG Global Ranking

Taking into account our revelations on the safety of CDG Global, we do not rank positively CDG Global, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• CDG Global Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

CDG Global Alternative Brokers

Based on our revelations of CDG Global safety and regulations issues, here are much better Alternatives to CDG Global with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:   

• BlackBull Markets – Good for High Leverage Trading
• ThinkMarkets – Competitive Spreads
• IC Markets – Excellent cTrader Broker

Deposit & Withdrawal

With CDG Global traders have multiple options for funding their accounts, including bank transfers, credit cards, and e-wallets such as Alipay, Neteller,  Skrill, Ngan Luong, Help2Pay, PayTrust88, and FasaPay.

The broker mentions on its website that some funding methods might be unavailable in certain regions, so it’s up to the traders to check the availability of a certain funding method.

• The minimum deposit for the Standard account is $50.
• CDG Global does not charge any fees for the first 3 withdrawals. However, starting from the 4^th withdrawal request within the same month, there will be an additional fee charged.
• If there has not been trading activity on the account, the withdrawal will be charged 20 USD.

CDG Global Review Conclusion

We recommend avoiding offshore or unregulated brokers, as they do not provide a sufficient amount of protection. Trading with CDG Global might put your investments at risk. A significant amount of complaints from the side of traders only confirms our point.
We advise traders to invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as XM, BlackBull Markets, and HFM.

• Overall ranking and experience for CDG Global is Negative

Is KonohaFX Scam or Legit Broker?

KonohaFX is not a safe broker to trade with. Although the broker tries to position itself as a trustworthy broker with favorable conditions, it still does not hold any licenses, which is an immediate red flag for any broker. Services offered by KonohaFX are questionable and non-transparent. Besides many traders claiming KonohaFX scam operations and fraudulent activity. 

• Traders should never forget that their investments are not protected by signing in with unregulated brokers. The companies lead their business however they find it appropriate and do not put the trader’s benefits before anything.

What is KonohaFX?

KonohaFX is an unregulated Forex broker that offers its services throughout the Forex, Crypto, Indices, and Commodities markets. The company states that it accepts clients worldwide, providing very low spreads, supportive customer 24/5 service, and other favorable conditions.  

However, all of the mentioned is just an attractive representation. In reality, the broker has many safety and regulation issues, that should scare away traders.

• Firms that do not hold any licenses are not reliable: they do not offer any level of protection, which is also the case of KonohaFX.
• On KonohaFX website, there is no mention of any type of regulation. Based on the contact information provided on the website, the broker is located in Cyprus (36 Aigyptou Avenue, 6030 Larnaca, Cyprus). However, to be able to provide financial services, a broker from Cyprus should hold a CySEC regulation, which in this case is absent. This means, that the broker might be a complete scam, and the perfect trading conditions it promises might be false.
• Besides, the broker also provides Australian and United Kingdom phone numbers, which probably means that it targets mainly United Kingdom and Australian clients. However, to be able to offer services in the mentioned countries, the broker needs to acquire FCA and ASIC licenses respectively.
• And, of course, like many other unregulated brokers, KonohaFX is infamous for its failed withdrawals. Based on numerous negative reviews and reports of a large number of customers, the broker aggressively urges the clients to make more investments before withdrawing their money. When it comes to the withdrawal itself, customer service suddenly becomes irresponsive.

Overall KonohaFX Ranking

Taking into account our revelations on the safety of KonohaFX, we do not rank positively KonohaFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading due to its lack of regulation and numerous negative reviews from traders.

• KonohaFX Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

KonohaFX Alternative Brokers

Based on our revelations of KonohaFX safety and regulations issues, here are much better Alternatives to KonohaFX with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• BlackBull Markets – Good for High Leverage Trading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• IC Markets – Excellent cTrader Broker

Deposit & Withdrawal

With KonohaFX there are two main types of funding trading accounts: Credit cards and Wire transfers.

The minimum deposit is $250.

• For withdrawing their funds, clients need to verify their identity. The traders also need to attach a color copy of their IDs, the color copy of their credit or debit cards they initially used for funding their accounts (both front and back), and evidence of the provided address.
• The minimum withdrawal amount is 100 USD/EUR/GBP.
• After providing the required documents, the withdrawal process will further take 7-10 working days on average.

KonohaFX Review Conclusion

We strongly recommend to avoid non-regulated or offshore entities and avoiding KonohaFX at all means in case any offer came up. There are numerous complaints from traders in different jurisdictions based on our finds so KonohaFX isn't a reliable Broker.

We advise traders to invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as FP Markets, BDSwiss, and HFM.

• Overall ranking and experience for KonohaFX is Negative

Is Tradefx24 Scam or Legit Broker?

Tradefx24 is not a safe broker. The company is registered in Seychelles (Seychelles, Mahe, Providence, Rue de la Perle, Global Gateway 8). This means that the broker does not hold serious and top-tier regulations that will provide a secure trading environment. Despite the efforts to position itself as a trustworthy and well-regulated broker, Tradefx24 lacks in regard to its safety, and signing with it means putting your investment at risk.

• Seychelles is an offshore zone with very low requirements for registered companies. The cost of the license is very low and easily obtained. The Seychelles legislation does not provide strict rules and does not oversee the company's operation further on. So, we do not recommend traders trust their funds to a broker with an offshore license.

What is Tradefx24?

Tradefx24 offers a wide scale of services, including real estate, cryptocurrencies, startups, securities, exchange markets, alternative energy sources, etc. On its website, Tradefx24 states that the goal of the company is to generate income from the field of digital assets and expand the investment opportunities of any resource capacities. It boasts to have a unique and easy-to-use platform that offers a secure and loss-free environment for trades. However, through professional research, we have come to the conclusion that this is not the real picture.

• The first red flag about the company is the absence of a serious license. The company is registered only in Seychelles, which leaves the broker with only an offshore license.
• The next disturbing truth about Tradefx24 is the confusing and disturbing reviews about the withdrawal. Many clients complain about not being able to withdraw their funds. It seems the broker is only fixed on getting from its clients as much money as possible, by constantly asking for payments, in order to process the withdrawals, that most often fail to be processed.

Overall Tradefx24 Ranking

During our research we found multiple safety and regulation problems with Tradefx24, thus we do not rank positively Tradefx24, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Tradefx24 Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Tradefx24 Alternative Brokers

Based on the issues we revealed about the safety of Tradefx24 here are much better Alternatives to Tradefx24 with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Tickmill – Variety of Funding Methods
• Capital Index – Low Spreads and Fees
• Trade.com – Good Trading Instruments

Deposits and Withdrawals

Tradefx24 offers three options for investment: beginner, smart start, and smart trade. Deposits differ based on these investment plans. For beginners, the deposit amount is varying between $100 to $999. For a smart start, the deposit plan reaches up to $5,000, and for the smart trade, it is between $5,000 to $14,900.

• Tradefx24 advises small investors to invest in any sector of the economy, by creating a joint corporate account of $50,000. Investors with more serious funds can invest in State projects, ICO projects, and stock markets.
• However, the Tradefx24 website provides little information on the deposit or withdrawal methods and steps, which is also doubtful.

Tradefx24 Review Conclusion

We strongly recommend avoiding offshore and non-regulated entities. We advise traders to invest only with brokers holding licenses from authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as FP Markets, BDSwiss, and HFM.

• Overall ranking and experience for Tradefx24 is Negative

Is Fullerton Markets Scam or Legit Broker?

Fullerton Markets is not a safe broker as it does not hold any serious license. On its website, the broker provides its address (Euro House, Richmond Hill Road, P.O. Box 2897, Kingstown, St. Vincent, and the Grenadines) which shows it is registered in St. Vincent and the Grenadines and does not provide proper safety terms and conditions. 

• Saint Vincent and the Grenadines (SVG) is a popular offshore jurisdiction for forex brokers due to its low set-up requirements and minimal regulation. However, the lack of regulatory oversight and lax requirements can also lead to potential risks for traders who choose to sign up with brokers registered with the SVG Financial Services Authority.

What is Fullerton Markets?

Fullerton Markets is a forex broker, offering also CFDs trading. Fullerton Markets is a forex broker that offers a variety of trading instruments to its clients, including currency pairs, indices, precious metals, and oil. Forex currency pairs are the main focus of the broker, with over 100 pairs available for trading, including major, minor, and exotic currency pairs.

• Although Fullerton Markets tries to position itself as a favorable broker with good conditions, it is not a regulated broker. It only holds an offshore license that does not provide full protection to its traders.
• Although being registered in an offshore zone, Fullerton Markets mentions segregated accounts. In reality, the segregation of accounts is a benefit that enjoys traders that sign with regulated brokers. Top-tier authorities, such as UK FCA, ASIC, and other well-known bodies require this from the brokers. However offshore brokers mostly do not have the benefit of segregated accounts.
• Fullerton Markets does not accept customers from Iran, Cuba, Sudan, Syria, and North Korea. The broker states on its website, that it follows the same rules that are applied in Hong Kong, Singapore, Japan, and the United Kingdom. 
• Besides, when having a better look, there are many negative reviews about the broker, especially where withdrawal is concerned. 
•  To avoid risks in trading, it is better to find a reliable broker with a license from a top-tier regulatory body. 

Overall Fullerton Markets Ranking

During our research we found issues regarding Fullerton Markets safety and regulations, thus we do not rank positively Fullerton Markets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Fullerton Markets Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Fullerton Markets Alternative Brokers

Based on our finds and issues with the safety of Fullerton Markets here are much better Alternatives to Fullerton Markets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• FXTM – Good for Beginners

Deposits and Withdrawals

 It is possible to fund the accounts with multiple options, including MasterCard, Sticpay, Visa, and MasterCard bank cards; electronic payment systems such as Skrill, Neteller, FasaPay, etc.

• Funding a trading account takes about 1 business day. Bank transfers might take 2-5 business days.

• Withdrawal requests are finalized within 1 business day, while funds are transferred within 2-4 days.

Fullerton Markets Review Conclusion

We always recommend avoiding offshore and non-regulated entities. We advise firms to trade and invest only with brokers that are regulated by reputable authorities alike UK’s FCA, Australian ASIC, or other similar regulators, that provide compensation and are strictly supervised. We advise signing in with reliable brokers such as BlackBull Markets, XM, and BDSwiss. 

• Overall ranking and experience for Fullerton Markets is Negative

Is Eternal Wealth Group Scam or Legit Broker?

Eternal Wealth Group is a 100% fraud company. Although the broker claims to be regulated by ASIC under registration number 427848, in reality, there is no such entity registered by ASIC.

• We never advise trading with an unregulated broker, since the financial investment service they deliver is not trustable. The reason is simple; the broker promises competitive trading or a favorable trading environment, while the trader has no guarantee at all. Traders should trust their funds only to companies overseen by top-tier authorities.

What is Eternal Wealth Group?

Eternal Wealth Group is a forex platform provider. It seems the broker provides its services by two different names and websites - eternalwealthfx.com and fxtrading-hk.com. Both are unregulated companies with identical websites and the same information about fake regulations.

• The broker claims to have branches in the US and Hong Kong. However, for providing services in the mentioned locations, a broker needs to hold licenses from these country financial authorities - NFA and Hong Kong SFC (Read on the Wikipedia Page). Evidently, Eternal Wealth Group does not hold any of the mentioned licenses.
• Besides, for a broker operating since 2007, it does not have any reviews or any other kind of feedback from its clients, which looks quite suspicious and not very trustworthy. On the other hand, many of the leading world authorities, such as the Australian Securities and Investments Commission (ASIC) have already issued their warnings in regard to Eternal Wealth.
• In addition, there are many negative reviews on different platforms from people who have trusted their funds to the broker and lost their investments. Traders claim that they got favorable offerings to invest with the broker, after which both their funds and the contact person evaporated.

Eternal Wealth Group Review Conclusion

Based on our research, we claim Eternal Wealth Group to be a complete scam. It goes without saying that traders should avoid brokers like this by any means. We recommend signing in with only regulated and reliable brokers that hold licenses from well-known authorities, such as CySEC, FCA, or ASIC. Also, we advise trustworthy brokers such as HFM, FP Markets, and BlackBull Markets.

Eternal Wealth Group Update

Based on our research, the Eternal Wealth Group website is inactive. This means the broker has muted its trading offerings and does not operate. However, we recommend avoiding and staying alert in case of any proposals.

Is By Trading Scam or Legit Broker?

No, By Trading is a Non-Regulated Broker. It is NOT SAFE to trade. The broker is not regulated by any reliable authority, thus investing with the company means risking your money. 

• BY Trading firm caught the attention of the respected FMA authority, while the warning to investors was issued and followed by other authorities within the EU to spread the state around. (Please check the information hereby)
• The regulators' purpose is to protect the population from fraudulent investments and risky businesses conclude those particular companies are not entitled to carry out certain financial transactions or services. That causes for action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the company concerned.

What is BY Trading?

BY Trading is a brokerage firm established in Wien, Austria that claims to conduct trading services on over 15 market destinations. The company offers includes clearing services to institutional and professional traders with specialization in commodities, stocks, options, futures, forex, bonds, CFDs, and funds.

• There is also mention about BY Trading's experience and professional providing of practice for 20 years. However, the main question is why the company promises allegedly professional trading services while located within reputable EU jurisdiction and is a non-authorized firm. Still, remains unclear if the state of about 20 years of operation is true or false, yet what is definitely the fact that the company does not hold an FMA, Austria license and is an Austrian financial service firm means the entity operates illegally.
• Therefore, we would also follow and always strive to support potential clients and traders with the correct decision to choose among the regulated brokers. Among the visual benefits, the authorities brokers operate under the safety rules implied to protect clients and even to cover the trader’s funds in case of the broker’s insolvency.

BY Trading Review Conclusion

Based on our research By Trading is not a safe broker to invest in. We recommend avoiding unregulated and offshore brokers and investing with companies, licensed in the UK or Australia (Find best forex brokers in Australia), such as BlackBull Markets, where regulation is strict and there are certain client protection rules. 

• Overall ranking and experience for By Trading is Negative

BY Trading Update

We found the By Trading website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

Is GFCInvestment Scam or Legit Broker?

No, it is not safe to trade with GFCInvestment. GFCInvestment is owned by DARTALON LTD., which is an offshore company registered in St. Vincent and Grenadine.

• St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Brokerz, TraderUR, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
• According to the GFCInvestment website, the broker is registered with the Financial Commission under the number 24437 IBC. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

What is GFCInvestment?

GFCInvestment is a Forex and CFD broker offering a variety of currencies and CFDs on commodities, indices, and stocks as well as cryptocurrency. GFCInvestment seems to be one of those offshore registered companies that offer their services without being licensed or regulated. 

• The broker provides St. Vincent and the Grenadines as its operational address, but the contact phone number on the website has British country code. The firm is not regulated on the UK. Moreover, UK's regulator Financial Conduct Authority has issued a warning against this broker in October 2018:

"This firm (Dartalon Ltd t/a Greenfields Capital and GFCInvestment) is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization."

• Also, the broker was banned in Australian by the Australian Securities and Investments Commission in May 2019:

  "The business listed below has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC."

  Check Out the ASIC Regulated Blueberry Markets Review

GFCInvestment Review Conclusion

We advise all investors and traders to avoid GFCInvestment and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as HYCM and AvaTrade.

• Overall ranking and experience for GFCInvestment is Negative

GFCInvestment Update

We found the GFCInvestment website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.