Gcfx24 Review: Exposing the Gcfx24 Scam
GCFX24 is presented as a trading platform that offers Forex and international indices and is equipped with Contracts for Differences (CFDs). It offers a demo account and a live account through the MT5 features and also has a website-based platform. Yet with a seemingly professional aspect, a host of red flags and bad experiences from users tell otherwise.
Company Name – GCFX24
Website – https://www.gcfx24.com/
Address – Unit Level 12F (1), Main Office Tower, Financial Park, Jalan Merdeka, 87000 Federal Territory of Labuan, Malaysia
Regulatory Warning – Not Recommended By Review Website Like Scams Report
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Suspicious License and Regulatory Concerns
Regulatory Doubts:
Although GCFX states that it works under the Labuan FSA license, reports indicate that this license is a clone, thus seriously questioning the legitimacy of its operation.
Unverified Operations:
GCFX24 does not bear confirmation from a major financial institution about its regulatory status, posing a risk for all types of investors.
Gcfx24 Review: User Complaints and Poor Service
1. Unkept Promises
- Users were being lured with promotions such as a 90% bonus and gifts upon account opening.
- Withdrawal of funds was promised within 6 hours-seldom kept.
- “After persistent sales calls, I joined GCFX Dubai, where they promised prompt withdrawal and a gift. However, 6-7 days later only $500 was processed from my withdrawal request of $2000″.
2. Customer Support Failure
- Emails and requests were sent continuously but were never answered. Users say they had to “beg” for their own money.
- The support team is still unresponsive and unhelpful even after complaints were made to their Malaysia Office.
3. Trading Manipulation
- The platform originally exhibited tight spreads to entice traders.
- But after some trades, it switches its spreads drastically for buying and selling.
- As one reviewer put it, “What the manager buys goes down; what he sells goes up.”
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