GCB London Review – Truth Behind This Fraudulent Broker

Welcome to the GCB London Review. Here, we will tell you a thing or two about this financial swindler that had the audacity to say it provides services in the UK. Of course, the shady broker is unauthorized. For all the red flags we found, keep reading!

On top of that, we seriously recommend you not to invest in the fake brokers Invest505, GateBits, and Vexxsel. Do not trade with these unlicensed brokers if you want to save your money!

How Safe Is It To Start Investing and Trading at GCB London?

It’s safer to play with fire. Seriously, GCB London claims to be operated by the company of the same name, based in the UK. That’s a bold statement. The phony broker probably isn’t aware of the overwhelming demands that providers have to meet to operate in that country.

Unsurprisingly, GCB London does not have a real license issued by the UK’s regulator – the Financial Conduct Authority (FCA). But, the authority did issue a clear warning about this fraudulent brokerage. Therefore, not only is GCB London illicit and unregulated, but it has also been blacklisted.

Why It Is Better Not to Choose An Unlicensed Broker

Please ignore the fake promises of GCB London. There’s no way the fraudster fulfills the demands required to operate in the UK.

These include a minimum operating capital of 730,000 GBP, negative balance protection, segregation of funds, a compensation scheme worth 85,000 GBP in case the broker goes bankrupt, and leverage restriction.

​​Is GCB London a Legit Broker or a Scam?

GCB London is an anonymous and fraudulent scam broker that allegedly offers Forex and CFD trading on a web-based platform. The scammer targets traders from the UK, Netherlands, Germany, Poland and Belgium.

Warning From The Financial Conduct Authority (FCA)

Below, we’ve provided the link to the FCA’s warning against GCB London. In addition to the UK’s regulator, two more have blacklisted this con artist. Namely, the Dutch AMF and the Italian CONSOB. Take a look.

GCB London Software – Platform Tools

With such a captivating name, we expected some cutting-edge platform to go with it. However, all we got was a simple WebTrader, called the GCB London Terminal. While this platform may suit newbies, it’s essentially ineffective for more intermediate and advanced trading since it lacks improved features such as automated trading, API integration and live market reports.

Those can be found with Meta Traders (4 & 5). In addition, unregulated brokers have nobody to stop them from manipulating the platform and directly stealing clients’ funds.          

What Do Traders Think Of GCB London?

Despite all the red flags we’ve emphasized thus far, we decided to see what traders think of GCB London and its services. We hopped to Trustpilot and found that the dubious broker has 30 reviews to its name with an average score of 2.9.

At the time of this writing, there was only one review in English, which we opted to repost here. The rest were in Polish. This warning here should be enough to deter you from investing.

Watch out this is a SCAM company! They are using company details and registration number that does not belong to them. I would say definitely do not buy any products from them, and do not invest or give your data. Perhaps best to report them to the police. 

– Trustpilot Customer

GCB London Range Investment Opportunities – Trading Instruments

Here’s a list of trading instruments that GCB London allegedly provides:

• Forex currency pairs – EUR/USD, AUD/CHF, GBP/JPY…
• Commodities – gold, silver, coffee, wheat, brent oil…
• Indices – S&P500, GER30, NIKKEI 225, US100…
• Shares – Apple, Samsung, Bayer…

Where Does GCB London Engage In Fraud? – Countries Of Service

From what we gathered, GCB London conducts its fraudulent activities in several countries in Europe. Fortunately, some regulators swiftly reacted to the threat of this scammer. Most importantly, the FCA made it clear that this is not a London-based broker. Here’s where the trickster finds victims:

• The UK;
• The Netherlands;
• Germany;
• Poland;
• Belgium.

Also, we recommend you not to invest in the fraudulent brokers SevenSeasFX, SevenSeasFX and Bullden.

What Are The Different GCB London Account Types?

When it comes to account types, GCB London offers five different types:

• Beginner – 100 GBP;
• Silver – 5,000 GBP;
• Investor – 15,000 GBP;
• Premium – 50,000 GBP;
• Gold – 100,000 GBP.

The last two types come with a 50% and 70% bonus. Yet another red flag. Bonuses are banned in the UK because they are often used as a pretext to prevent traders from withdrawing funds.

Demo Or Trial Accounts?

Nope. Nothing comes for free here, folks. GCB London was lazy to include a demo or a trial account for traders to try things out. Perhaps the unscrupulous broker was unaware that this is necessary to obtain a license.            

Leverage, Spreads, and Commissions?

Leverage caps at 1:500. Now, do you realize the dangers of trading at such high a level? Losses would be inevitable. Hence, the FCA limited leverage in the UK at 1:30 for retail clients. Spreads start at 0.7 pips, which is great, but don’t get fooled by it. There’s no guarantee that it’s legit. We weren’t given anything regarding commissions.

Minimum Deposit and How Do I Withdraw?

The minimum deposit is 100 GBP. It’s not that much but we wouldn’t risk it. Too much shadiness associated with this broker. As for the payment methods, GCB London says it allows deposits via:

• Credit/debit cards (MasterCard, Visa & Maestro);
• QIWI;
• Cryptocurrencies.

There are no fees at all, allegedly. Yet, the minimum deposit for crypto transfers is 250 GBP. What is strange is that GCB London says it allows withdrawals through bank payments, i. e. wire transfers. By law, brokers must pay traders using the same method with which the funds were deposited.

To answer the question in the title of the section, we believe you won’t be allowed to withdraw funds because this broker will probably take the money you deposited and leave you hanging.

Scammed by GCB London Broker? – Allow Us to Hear Your Story

This is a sophisticated scam after all. So, there’s no shame in falling for it. What’s important now is to try to get your hard-earned money back. Since the broker accepts deposits made with credit/debit cards, QIWI, and crypto, here’s some info about refund methods.

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback.
• This process can be requested at the issuing bank within 540 days.
• Crypto transactions can be traced to a wallet within a crypto exchange, after which, you can request a refund from the exchange.
• For QIWI, we aren’t sure, you’re going to have to contact that company.

If you were scammed by a broker, let us know.