GHC Trade review

GHC Trade Review

It took us a bit of time to connect all the dots related to the GHC Trade brokerage. The company has so much misleading information on the website that making it clear who the owner is and where the broker is based was not easy. However, for the sake of our GHC Trade review, we did it.

Let’s start step by step.

Broker status:Unregulated
Regulated by:No regulation
Scammers Websites:https://www.ghctrades.com/
Blacklisted as a Scam by:FMA NZ
Owned by:Global Holdings Capital Limited
Headquarters Country:Saint Vincent and the Grenadines (allegedly New Zealand)
Foundation year:2019
Supported Platforms:MT4, cTrader
Minimum Deposit:$2,000
Cryptocurrencies:No
Types of Assets:FX, commodities, indices, shares
Maximum Leverage:1:500
Free Demo Account:No
Accepts US clients:No
Site grid:www.ghctrade.com

GHC Trade Regulation and Security

The broker belongs to Global Holdings Capital Ltd and allegedly has headquarters in New Zealand. Moreover, there is a claim that the broker has been regulated by the FSP – Financial Service Providers of New Zealand. Since the only regulator in charge of providing licenses in New Zealand is FMA, this regulation is not valid. FSP is simply a register where companies can add their name if they wish to offer financial services. Also, there is a statement of the broker being regulated by Canadian FINTRAC. Similar to FSP, FINTRAC is just a financial organization. In Canada, the official regulatory body is IIROC.

What confused us till the end, the broker’s website is by default in Chinese, but you can change the language to English. It looks like Chinese traders are the target.

Also, the broker has an actual headquarters in the offshore country, Saint Vincent and the Grenadines.

How do we know that it’s not in New Zealand? FMA told us.

Warnings From Financial Regulators

The New Zealand official regulatory body, FMA, expressed their concern that GHC Trade might be a scam. According to FMA, the broker is not based in New Zealand, and they received many complaints about GHC Trade already. They warned their citizens not to fall for the GHC Trade scam.

FMA warned the GHC Trade scam

GHC Trade – Withdrawal Issues

After everything being already questioned regarding GHC Trade legitimacy, we are not shocked to hear that there are withdrawal issues. The broker does not let clients withdraw their funds, and the most persistent ones are getting even blocked from accessing the funds. Also, despite claiming to be regulated, the broker offers leverage up to 1:500. Another easy way for the broker to lose your money on the financial market.

Do not fall for the GHC Trade scam, such as Migo Trade and TitanFx.

How do online trading scams work?

Everything starts with an ad showing you the future you’ve ever wanted. It’s followed by a phone call from a persuasive salesperson taking your credit card information. And it ends with money disappearing from your bank and trading account. In the meantime, you are being assigned with a so-called account manager whose job is to pretend to be your friend and extract as much money as possible. Once you refuse to add more funds, or you simply have no more, you are blocked. And this is where you understand you have been scammed.

Scammed by GHC Trade?

If you were scammed by GHC Trade, there is a possibility of getting your money back. Like many victims of scams before you, you need to file a dispute and request a chargeback.

But what is a chargeback? It’s a way to refund your card in case you were scammed online.

Get in touch with our staff now via chat and book your free consultations!

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How can we help?

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What is GHC Trade?

GHC Trade is an unregulated online trading brokerage.

Is GHC Trade a scam?

GHC Trade is unregulated and operates illegally.

Is GHC Trade regulated?

No, GHC Trade has no regulation for providing financial services.

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