Gordonzak Review – Offshore Fraud Alert, Gordonzak.com Scamming Clients
Gordonzak is a clear example of how the company may change its owner but keep scamming methods. After the firm behind the scenes was blacklisted by the Spanish CNMV, this investment institution rebranded, but even that didn’t help. It’s still a fraud, and we will prove it in our Gordonzak review.
|Broker status:||Offshore Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CNMV, FSMA, CMVM, A-TVP|
|Owned by:||Gordon Group Ltd|
|Headquarters Country:||Marshall Islands|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About Gordonzak Regulation?
Gordonzak is a brand of Gordon Group Ltd from the Marshall Islands. Since this country is known as an offshore place with the loosest financial supervision, we’ve checked whether or not Gordonzak regulation exists.
Why Must a Broker Have a License?
Brokers must obtain a license in order to follow regulatory rules and form compensation funds. For instance, Tier1 regulators such as FCA, ASIC, and BaFin oblige Forex firms to have over 700,000 EUR in these funds to reimburse clients. It’s some sort of a money-back guarantee for you as a client.
Unfortunately, Gordonzak didn’t go that far to get a regulation; they just changed the owner’s name.
Gordonzak Warnings From Financial Regulators
The Spanish regulator has reacted to Gordonzak’s complaints by issuing an official warning against the firm. CNMV stated that Gordonzak provides unregulated financial services, and clients should avoid it.
The same warning was later republished by several regulators, including Belgian FSMA.
And Portuguese CMVM.
Traders Reviews About Gordonzak Scam
Traders have several complaints – about withdrawal issues, broken trading platforms, and unregulated trading conditions. Gordonzak lures clients into investing with all sorts of fake promises, but once they decide to submit a withdrawal request, their accounts are suspended.
Gordonzak – Not Competitive Trading Conditions
While Gordonzak might brag about providing monstrous profits and a trading revolution, in fact, there’s nothing. The leverage is too high, going up to 1:100, while the EU and UK regulators have strict limits on 1:30 or 1:50 for the Forex market.
Furthermore, the spread starts at 1.6 pips, while some regulated brokers enable raw accounts with no spread.
And, of course, there’s a Bonus Policy requiring clients to repay the bonus plus the initial deposit 40 times before being able to submit withdrawal requests. It looks like another scheme way to prevent you from getting your money back.
Supported Trading Platforms – Available Trading Software
At the time of this review, the Gordonzak trading platform was not functional. The website was showing Maintenance Break.
We understand that the firm provides a basic WebTrader with a few charts and indicators, not different from a TradingView chart. As discussed, trading conditions are far from ideal, and if you cannot even access the platform, why would you consider having anything with this firm?
Everything About Gordonzak Trading Accounts
Gordonzak has no account types. Unlike many brokers who explicitly list all the perks you may gain by upgrading your account, Gordonzak didn’t bother much. Since the firm was established to extort the money, we’re not surprised to learn they haven’t paid attention to detail.
Gordonzak’s minimum deposit is $200 and comes with predetermined leverage and spread starting at 1.6 pips for EUR/USD pair.
Gordonzak Range of Trading Instruments & Markets
While the website suggests that the firm is mainly focused on cryptocurrencies, there seems to be access to all 5 major markets.
- Currency pairs
Please, also remember the names of NovaTechFx , IndexEvolve and Trading 360 trading scams and avoid them at all costs! In addition, always check the background of online trading companies before investing!
Gordonzak Deposit and Withdrawal Methods
There are 3 available payment methods:
- Debit/credit cards
- Wire transfer
The minimum is $200, but we’re unsure whether it stands for all methods or only cards. However, investing via wallet is not secure as the transaction is untraceable while using your credit card leaves you with the option to request chargeback within 540 days.
Scammed by Gordonzak Broker? – Tell Us Your Story
If you were scammed by Gordonzak or a similar bogus broker, let us know. Our chargeback specialists may be able to assist you and help you get a refund.
But What Is A Chargeback?
If you were scammed online, the bank has ways to retrieve the transaction. One of them is a chargeback. For more details, contact us via online chat. Time is of utmost importance here, and the sooner you start the process, the higher chances you have to get your money back. Act now, and let’s start!
What Is Gordonzak?
Gordonzak is an online Forex and CFD trading provider that has no regulations. If involved with this firm, contact us for assistance with the refund.
Is Gordonzak A Scam Broker?
Gordonzak has been blacklisted in several countries, including Spain, Portugal, Belgium, and Slovenia.
Is Gordonzak Available in the United States or the UK?
The firm provides its services in the UK but doesn’t operate in the US.
Does Gordonzak Offer a Demo Account?
Gordonzak doesn’t offer a Demo account, only a Live account.