Beware GSFX is a Non-Licensed Broker. It is NOT SAFE to trade.
- Company name:
Goldstar Foreign Exchange Management Limited. GSFX
- Registration Address/ License:
Claimed address in London, UK. No License, No Regulation.
GSFX is an online trading provider and retail broker, which claims their registration and popularity in the UK, as well as one of the top European companies, while the operation established according to its FCA license. While the broker website mainly presented in Chinese, thus diverted to the Asia region, the website also serves an English version, which means the company targets worldwide traders.
However, the main concern and truth are that the broker is neither registered by the FCA (Financial Conduct Authority) and only allegedly located in the UK. Actually, this is a serious issue, as the company points absolute false information and claims fake legitimate status. None of the serious firms and trustful financial service providers will allow such an abuse, but for non-regulated, scam company it is a typical behavior.
The primary issue of any non-regulated entity is to formulate an attractive offering, get clients deposits and further manipulated by the clients and its funds so the trader will never see his funds again.
We always put a question, why to involve yourself in the highest risk while trading or engaging with non-authorized entity? Of course, it’s not a reasonable decision by any mean, as the financial markets having complicated structure, at the glance of any trader should be a transparent broker provider, which can guarantee its maintenance by the confirmation of international authorities. In conclusion, we recommend choosing among truly regulated FCA Forex Broker or companies with similar reputable registration, as this will provide vast of implemented safety tools. In regards to GSFX, we didn’t find anything attractive that much what will cause opening an account with them, besides an issue to their fake statements.
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