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G44FX Review - is it scam or safe?

G44FX Review - is scam or good forex broker?

G44FX is an offshore broker. Your money is not safe.


Trading Accounts and Conditions


Trading account  Min. deposit Max. leverage Spread
Standard   $100 1:1000 1.8 pips


Offshore broker G44FX offers trading on the renown MetaTrader5 platform. It does not seem to provide different account types. While it claims to provide leverage up to 1:500 and spreads as low as 0.1 pips on its website, we found out that the actual demo trading conditions are different. So, we filled out the above table with the demo account trading information we got from the platform.


If you are wondering whether it is safe to invest with G44FX, make sure you read the present review before depositing.



G44FX Advantages


MT5 available, many tradeable assets

The MetaTrader5 (MT5) is a solid choice of a platform. It has inherited most of the beloved functionalities of the MT4 and besides, allows trading in OTC products and exchange-traded stocks from one and the same account.


The MT5 offers great charting, fast speed of execution, automated trading systems (a.k.a. Expert Advisors), and convenient programming environment.


>> More MT5 brokers <<



Besides, clients of G44FX  are offered a variety of tradeable assets: currency pairs, CFDs on indices, commodities, stocks, and cryptocurrencies (Bitcoin, Ethereum, Ripple, Dash, and Litecoin). If you are keen on trading cryptocurrencies, however, you’d better check our list of recommended brokers who offer such.

>>Well-regulated crypto-CFD brokers<<



Reasonable deposit, high leverage

The minimum deposit to open an account with G44FX is $100, which is pretty much the industry’s average. Besides, the broker provides high leverage levels, which is also considered a plus, although the use of high ratios is not recommended in general due to the greater risk of losses.


On its website G44FX says it offers leverage up to 1:500, but when we registered a demo trading account, we were offered even higher ratios (1:1000).



G44FX Disadvantages


An offshore broker

The company behind the G44FX  brand, G44 International Limited, is registered in Saint Vincent and the Grenadines (SVG). Forex brokers in this offshore zone are neither licensed, nor overseen by any financial authority.


As a matter of fact, the FSA itself stated that it does not issue any licenses for forex brokers, nor “does it regulate, monitor, supervise or license international companies, which engage in such activities“. In addition, the FSA warned that some financial institutions falsely claim to be registered or licensed by the it and that “their purpose for doing this is more than likely for illicit reasons“.


Announced spreads don’t match demo ones

Although it claims to “offer transparent and reliable prices to trade Forex”, G44FX is not very clear about its trading conditions. The broker has not presented average spreads on forex majors. Instead, we can only find some vague promises of “spreads reaching as low as 0.1 pip” on its website.


Yet, when we logged into G44FX’MT5 in demo mode, we found the spread on the most liquid forex pair, EUR/USD, floating around 1.8 pips. As most of you know, this is not a competitive pricing. Most brokers nowadays offer spreads within the range of 1.0 – 1.5 pips for this pair and some go even lower.



>> Compare the spreads of some top brokers in real time <<





G44FX is a forex broker that uses the MT5 platform and offers trading in wide range of assets with high leverage. Nonetheless, we don’t recommend it mainly because it is not regulated. Besides, its spreads are not very attractive.


Considering trading world is full of fraudsters and most of them are not regulated, you’d better only deal with entities licensed by reputable financial authorities like UK’s FCA, Cyprus’ CySEC or Australia’s ASIC. These regulatory agencies require compliance with a number of strict rules that give significant assurance for the security of the clients funds.



>> Trade with a CySEC regulated broker <<



To sum up the above in a few words:


Pros Cons
MT5 available, a lot of trading instruments An offshore broker, no regulation
Reasonable deposit, high leverage Announced spreads don’t match demo ones
  High demo spreads



Latest news about G44FX
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