Is GCI Financial Scam or Legit broker?

GCI Financial is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Thus, the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

About GCI Financial
🗺️ Registered inSt. Vincent & the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is GCI Financial safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is GCI Financial?

GCI Financial LTD is an international Forex and CFD broker incorporated in St. Vincent & the Grenadines that is claimed by their focus on offering superior trading conditions and customer service through advanced software and lowest trading costs (forex brokers with low spreads). In addition, the company operates for over 15 years and has received awards that recognize them as the Best Forex Broker Europe or Most Innovative Forex Broker Europe by International Finance.

  • Despite this, St. Vincent and the Grenadines is in a known offshore zone, while the company operates without any license to perform its services.
  • Besides, the company was previously regulated by the Belize IFSC, yet withdrew its license and is not regulated by any authority. Moreover, there were warning against the company by some of the authorities, as well as negative feedback from many investors with cases to withdraw money.

    “GCI Financial LLC is not registered to engage in the business of trading in securities or advising anyone with respect to investing in, buying, or selling securities.”

     

GCI Financial Review

 

Overall GCI Financial Ranking 

Based on our finds about the safety and regulations issues of GCI Financial, we do not rank positively GCI Financial, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • GCI Financial 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.
RankingGCI FinancialFP MarketsXM
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneEducationTrading Platforms

GCI Financial Alternative Brokers

Due to our finds and issues with the safety of GCI Financial, here are much better Alternatives to GCI Financial with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

  • HFM – Good for Currency trading
  • FP Markets – Good for CopyTrading
  • XM – Good for Trading on MT4

GCI Financial Deposits and Withdrawals

GCI Financial deposit and withdrawal methods are not many. The funds are transferred either by bank transfers or an e-wallet – Perfect Money. Deposits can be made by the GCI account holder only. Third-party transfers are not permitted.

  • For withdrawals, clients need to fill in a form. After filling it in, the form should be signed and returned to GCI via email along with a copy of valid identification. Withdrawal forms that are not fully completed will not be processed. Funds are returned to the originating account only.

GCI Financial Review Conclusion

Generally, we do not advise investing with unregulated brokers. Even though the offering and the trading capabilities may offer a very attractive package, safety always goes first. Therefore, it is much more secure to start trading with a reputable regulated broker that follows the strictest performance operation that was designed to deliver the highest level of safety to the investors, such as Pepperstone and HFM.

  • Overall ranking and experience for GCI Financial is Negative 

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