GFE Markets Review – Detailed Update Reveals Confirmed Truth
GFE Markets Review – Detailed Update Reveals Confirmed Truth

 One of the first moments the GFE Markets scam was exposed was when we saw the company’s regulatory status. Also, there were other signs like leverage, the company’s address, contact options, conditions, and much more.

All these things can easily help you determine if the company can be trusted or not. But if you skipped our last lesson, make sure to read this GFE Markets Review carefully.

Also remember the names of the RevolutExpertPibexa and Cryptocycle trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Regulated by: No regulations
Is This Company Safe? No
Known Websites: Gfemarket.com (inactive); gfemarkets.com (inactive)
Have Warnings from: BaFin, FSMA
Registered in: Saint Vincent and Grenadines
Operating since: 2022
Trading Platforms: WebTrader
Maximum Leverage: 1:500
Minimum Deposit: N/A
Deposit Bonus: N/A
Trading Assets: Forex, indices, cryptos, commodities, shares
Free Demo Account: No
How to  Withdraw from This Company? Since the company went missing, all the withdrawals can only be solved with alternative methods. Such as chargeback, CipherTrace crypto trading tool, and others. In any case, we suggest you book a free consultation with our refund team before making any moves.

GFE Markets Is A Safe and Reliable Forex Trading Platform?

GFE Markets is a brand of GFE Management Ltd, registered in Saint Vincent and the Grenadines. This offshore island is a notorious HQ of unregulated trading firms thanks to the lack of regulatory supervision.

Since FSA declared itself unauthorized for Forex, CFD, and binary options trading firms, brokers in SVG are under the radar. They are obligated to get a license from the local authorities, but the majority of them don’t do so. Therefore, we have a number of fraudsters, including the GFE Markets broker here.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers didn’t get a license because they could not or were unwilling to fulfill the criteria. Tier1 authorities require a large sum of operational capital to ensure the broker’s solvency. Further, legitimate brokers must be transparent, keep clients’ funds in segregated accounts, and limit leverage.

None of these apply to unregulated scammers. They can vanish anytime, and it seems that GFE Markets tried just that.

Regulatory Warnings Against GFE Markets Scam

If the company opted for any top-tier regulation, its services would be much more relevant. Since they didn’t it was just a matter of time before warnings would see the light of day. Luckily, there are a few institutions that do care about their citizens protection. One of those is German BaFin who was the first to publish a warning against the GFE Markets broker.

Luckily, the same move was followed by the Belgian FSMA and now the whole Europe practically knows who this broker is. In general, that’s another sign to stick to regulated firms.

How Reliable Is GFE Markets Broker?

GFE Markets is an online financial brokerage whose old website is currently inactive. The owner is based offshore and has no valid regulations for providing Forex and CFD trading.

What Do Traders Think Of GFE Markets?

We’ll show you some recent GFE Markets reviews and clients’ experiences with the brokerage.

“It is like a hell dealing with GFE Markets. I opened an account with them and made a deposit with 12250$. Now there is no way to get my money back. I placed many withdrawal and they cancelled all of them. I en route to duty case to try to get my money from this scammer.”

– Trustpilot Customer

What Platform Does GFE Markets Provide?

GFE Markets Trading Software

As expected from a fraudulent firm, GFE Markets didn’t bother too much about the trading platform. Customers got access to a WebTrader that can easily be described as a TradingView chart. It’s a free tool you can find anywhere online.

While this web-based software has several indicators, it doesn’t make it great software, rather barely functional. Instead of wasting your time with such, you can find a legit firm with MT4 or MT5 on offer.

GFE Markets Accounts Overview

GFE Markets has five account types on offer, each requiring an insanely large sum of money.

  1. Standard – 10,000 EUR
  2. Advanced – 25,000 EUR
  3. Platinum – 100,000 EUR
  4. Expert – 250,000 EUR
  5. VIP – 500,000 EUR.

Of course, there’s no risk-free Demo account.

In addition, we strongly advise you not to invest in RoboFXtrade, Green Capitalz and BitnexLtd fraudulent brokers.

Changing The Domain – Hiding Past Fraud

GFE Markets has a new domain, gfemarket.com. However, this domain only has a Home page. All other pages are related to the inactive domain gfemarkets.com which is no longer available.

As this is the case, we have all the reasons to believe that GFE Markets tried to hide its nature and convince investors that they’re dealing with two different companies. Don’t be deceived, and don’t fall for this cheap trick.

GFE Markets – Countries Of Service

GFE Markets mainly does its business in:

  • Germany
  • Belgium
  • France
  • UK
  • Austria

GFE Markets Range of Trading Markets

GFE Markets Range of Trading Markets

The brokerage allows trading in all major markets, including:

  • Forex – EUR/USD, GBP/CAD, USD/NOK
  • Indices – DJIA, NASDAQ, DAX30
  • Shares – BMW, Nvidia, Amazon
  • Cryptocurrencies – BTC, ETH, XRP
  • Commodities – gold, natural gas, palladium.

Despite the solid range of trading assets, we’re still talking about offshore fraud.

What Is Known About GFE Markets’ Trading Conditions?

You need a legitimate company if you’re looking for a broker with favorable trading conditions. Despite what GFE Markets and similar phony platforms advertise, they don’t deliver. Relying on unlicensed scammers to be honest about commissions is equal to gambling. Thus, you need a regulated firm.

Leverage and Spreads

GFE Markets offers leverage of up to 1:500. This cap is significantly lower in the EU and UK but also in the US. The spread stands at 1 pip for EUR/USD pair, which would be solid. Since the firm is unregulated, it means nothing.

Bonus Rules

GFE Markets’ bonus clause is ridiculous. According to it, clients need to have a minimum trading volume of 1 lot for each $1 they receive.

Practically, you need 200 lots equal to $2 million for the $200 bonus. Yes, it’s outrageous and made to prevent you from withdrawals.

GFE Markets Minimum Deposit, Withdrawal Terms

The Account Types section shows a minimum deposit of $10,000. We’re unsure if it’s possible to deposit anything less, but if not, it’s a straight reason to avoid the firm.

Since Withdrawal Policy doesn’t exist, we’re unable to specify the terms. The same thing we can tell to deposit and withdrawal methods, as those remained unspecified as well.

How to Withdraw Money From an Inactive Broker Site?

Since the GFE Markets website is not active anymore, traders don’t have an option to look for their money. Or they think so. If you have transferred any funds from your card in the last 540 days, you can easily apply for a chargeback. However, those small transfers are meaningless compared to ones that usually happen on crypto wallets.

These require more sophisticated tools like CipherTrace. Only after you track your money with this tool, you can apply for a refund properly. But to avoid any mistakes along the way, we suggest you book a free consultation with our refund specialists. Don’t waste any time and send us a message right away.

Scammed by GFE Markets Broker? – Let Us Hear Your Story

If you have been scammed by GFE Markets, you have to report it immediately. Your timely report can help us start the chargeback procedure and recover your funds. It can also help thousands of others defrauded by the same scheme firm.

But What Is A Chargeback?

A chargeback is a way for the bank to reverse the transaction. If you have deposited funds through your credit card, you have up to 540 days to file a dispute. Book a free consultation with our experts now, and let’s begin!

What Is GFE Markets?

GFE Markets is an online trading brokerage based offshore. It has no valid trading license.

Is GFE Markets a Scam Broker?

The broker is a scam that changed its domain in an attempt to lure new investors.

Is GFE Markets Available in the United States or the UK?

You can find GFE Markets in the UK but not in the US.

Does GFE Markets Offer a Demo Account?

No, GFE Markets doesn’t offer a risk-free demo account.

 
 

 

 

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