GK Invest Review: A Close Examination of Trading Features
GK Invest presents itself as an award winner for the best broker of Indonesia. However, what does this mean for the rest of the world? Who can be a company client, and can you complain to the Indonesian regulator if you have been scammed?
Let’s see in our GK Invest review.
|Owned by:||Global Kapital Investama Berjangka|
|Types of Assets:||FX, commodities, indices, stocks|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
GK Invest Regulation and Security
GK Invest is owned by Global Kapital Investama Berjangka, which is where its name came from. The company is based in Jakarta, Indonesia, and has BAPPEBTI regulation. Besides this, it’s a member of the Jakarta Futures Exchange (BBJ) and Indonesian Derivatives Clearing House (ICDX).
What does all this mean for an average trader? It means that if you have any sort of issues with GK Invest, you must file a complaint to BAPPEBTI and wait until the issue is resolved. The regulator set as one of the most significant rules that every trading company needs to keep clients’ funds in segregated accounts. It all sounds nice, but this regulator didn’t make forex brokers form a compensation fund that will be used for reimbursing clients.
That is why we still suggest a tier 1 regulator such as FCA or CySEC, where they require the minimum capital of at least $700,000.
Fund Withdrawal Issues
Speaking of fund withdrawal, we noticed something on the broker’s website. It allows withdrawals only via wire transfer. Usually, brokers insist on returning funds deposited via card to your card since it’s a much faster and less expensive way. The duration of a wire transfer, along with fees and limiting to only one payment method, gave us the feeling this broker is not too keen on returning funds to investors.
According to several GK Invest reviews we read, the minimum deposit is $200 and can be made via various payment methods. However, if you would like these funds back, your only option is a wire transfer. The broker is charging you a fee of $10, while your bank is charging you for the international transfer as well. If you are withdrawing smaller amounts of money, these fees can significantly impact your net profit.
Since GK Invest is originally an Indonesian platform, most clients come from this Asian area – Indonesia, India, Pakistan, etc. In their opinion, this broker is not the best they have dealt with. Thanks to the limited offer of assets (no cryptocurrencies), MT5 trading platform (MT4 is much more popular), and limited withdrawal methods, investors are interested in browsing other options before starting an investment account.
How Does Online Trading Scam Work?
If you have ever been involved with an illicit brokerage, whether it officially had a regulation or not, you know that everything starts from an advertisement. And in most cases, this advertisement is false, promising tens of thousands of dollars from a minimum deposit.
After you have been dragged into this rabbit hole, exiting is more complicated than it seems. Some brokers are not allowing their clients to withdraw funds at all, while others, such as GK Invest, are making the process too complicated. In the end, clients are giving up themselves due to the inability to wait further or understand requirements.
Beware of online trading scams and always confirm you are in good hands. You can verify the broker’s regulation as well as the opinion of other investors.
Scammed by GK Invest broker?
If you have been scammed by GK Invest, do not get desperate just yet. You can try to consult the Indonesian regulator, and if you get no answer, you can always request a chargeback.
But what is a chargeback? It’s a way of refunding your card in case you have been scammed online. We would like to assist you in choosing the right brokerage and getting your funds back from an illicit one. With years of experience, we would like to share our knowledge during a free consultation.
Contact our support via chat, book the consultation, and let’s get your money back.
What is GK Invest?
GK Invest is an Indonesian online trading brokerage regulated by the Indonesian authority body, BAPPEBTI.
Is GK Invest a scam?
Since the broker holds an Indonesian regulation and has no compensation fund, you have no guarantee for your money.
Is GK Invest regulated?
Yes, GK Invest is regulated by the Indonesian authority body, BAPPEBTI.
Is GK Invest available in the USA?
The broker does not clearly disclose countries where it operates, yet we didn’t find any clients coming from the USA so far.