GasTrade Company Review – Persistent Threat With Their False Licenses
Worthless claims about providing unparalleled trading conditions of all the brokerage platforms worldwide do not help this fraudster appear any more legitimate.
Despite the fabrications about holding several prestigious online trading certificates, it is apparent that this trading platform is nothing but a cheap shot at deceiving traders.
If you’re wondering about the reasons behind such a bad reputation, you should read our GasTrade Company review entirely. Learn why financial authorities have blacklisted this conduct and what lies in the roots of this internet scheme.
|Regulated by:||Unregulated Broker|
|Is This Company Safe?||Unlicensed and blacklisted, this company is anything but safe.|
|Have Warnings from:||FCA|
|Registered in:||UK (alleged)|
|Deposit Bonus:||Not available|
|Trading Assets:||CFDs on Forex, Metals, Stocks, Indices, Crypto, Metals, Energies|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Do not invest here! If you already have, please refer to our chargeback experts for help in gaining back stolen capital.|
Public Awareness Raised
Several respective financial authorities have done their due diligence and warned the public about this firm being a complete and utter fraud. First one to react was FCA, considering that the firm in question claims to be based and regulated in the UK.
It seems that the GasTrade Company scam didn’t put enough effort into legalizing their business and obtaining the mandatory licenses. All of the website’s claims about holding various certificates are all a farce.
Another similar swindler that will promise you the world yet rob you blind is FxOnUs. Lack of fund segregation, security measures and compensation plans are just some of the red flags and reasons never to trade with them.
Most Favored Targets
As FCA has previously explained, the con mainly focuses on the UK customers, considering that they claim to be licensed there and have their main office located in London. However, their other victims don’t have it any better, as many more traders have lost funds to this sham. Most of them originate from:
- United States
- United Kingdom
Social networks presence of cyber criminals is found in the form of fake profiles advertising deals that bring huge profits. Usually, you’ll see these scam agents first trying to gain your trust then have you invest into an anonymous scheme and take everything you own.
Otherwise, unsolicited phone calls are another way to your pocket. Persisting and often completely obnoxious boiler room agents shamelessly push victims into investing until they drain all their bank accounts.
Leverage Against Regulations
While most of the trading terms on this network are completely left out, the leverage offered is one sure sign that you’re dealing with a fraud. If the firm was indeed regulated by ASIC and FCA, as they claim to be, they’d never be able to provide leverage ratios higher than 1:30.
In reality, this potentially offshore business offers a maximum leverage of 1:500! As for fees, spreads, and other costs, you won’t be informed of any of it. Lack of transparency is evident in this niche too.
Trading Features Below Any Standard
As we’ve already seen, the company makes all sorts of bold claims but doesn’t offer anything to back them up. What this firm in particular claims is still below the industry average in many aspects.
Many of the services that have a hefty price tag attached to them are something you’d expect from any regulated broker. The fact that most of what is offered boils down to false advertising doesn’t improve the picture in any way.
Types Of Trading Accounts
The firm offers tiered accounts, similar to the ones with BizzTrade. The alleged perks included with the more expensive accounts are something you’d come to expect as standard service from regulated brokers, like 24/7 customer support.
Here’s an overview:
- Starter- $150
- Optimal- $1,000
- Superior- $10,000
There’s basically nothing to back up these advertisements, however. The account creation page for GasTrade Company login is defunct, and it’s impossible to create a new client. A demo account is not available either.
Do They Even Have A Platform?
The broker mentions a trading platform exactly once on their website, and quickly forgets about it. Alleged “multifunctional trading software” is nowhere to be found!
Since the admission of new clients is basically non-existent at this point, we were unable to check the client portal for any GasTrade Company platform. The same is true for any mobile device users as well.
Selection Of Trading Assets
For a self-proclaimed GasTrading Company, they sure have little in the way of trading energies. In fact, the instrument table that should disclose energy assets contains agricultural commodities instead.
Here’s the range of trading instruments:
- Forex CFDs (AUD/CAD, USD/HUF, AUD/CHF, AUD/JPY)
- Cryptocurrency CFDs (BTC/EUR, DSH/USD, BTC/USD, ETH/USD)
- Stocks CFDs (L’Oreal, Gazprom Neft, Siemens, 3M)
- Indices CFDs (Dow Jones, Nikkei 225, S&P 500, RTS)
- Metals CFDs (Silver, Nickel, Palladium, Gold)
- Energies CFDs (Brent, Natural Gas, WTI Crude)
- Commodities CFDs (Corn, orange, Sugar, Wheat)
Safe Transfers Are A Lie
Just like every other statement on this shady website, the claims about fastest and most secure GasTrade Company withdrawals are also falsified.
There is a barely informative policy that hints wire transfers and credit cards as accepted channels. Also, the processing time per each payout request is allegedly strictly defined to 2 business days.
None of this has to be true, since it’s just a bunch of worthless words on a paper, unsupported by a valid Forex license.
Support Is Not For Everyone
Not all clients are equal with this firm, and only the highest paying customers allegedly have access to dedicated live support. The rest need to use the callback function and hope for the best. The only remaining support method is email.
Don’t Let The Swindlers Win! Fight Back!
The only thing on the rise with this broker is the number of accrued regulator warnings. Everything you see on their website is completely fake, and intended as a part of a deceptive strategy. The company has no trading app, a closed-type client onboarding, and nothing to offer for your hard earned money.
That said, you shouldn’t just let these scammers keep the funds you’ve invested. With the aid of our legal professionals, you can fight back and reclaim what is yours! Contact us today via the live chat, and book a free consultation with our team of chargeback experts.
What Is GasTrade Company?
It is an illicit online trading portal that is run by an anonymous, potentially offshore business.
Is GasTrade Company A Scam?
Yes, as confirmed by various Tier 1 regulators, this company is a financial swindler.
Who Owns The GasTrade Company?
The owner isn’t mentioned on the website in any shape or form. Please consult our legal advisors for help with recovering your stolen funds.