Is GFCInvestment a 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 the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is 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 the FinaCom is a well-respected organization, it is a self-regulatory organization which 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.

GFCInvestment is a Forex and CFD broker offering a variety of currencies and CFDs on the commodities, indices, and stocks as well as the 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 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.”

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.

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