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Gallant Finance Review - is it scam or safe?

Gallant Finance Review - Is gallantfinance.com scam or good forex broker?

RATING: 1.5 / 8 REVIEWS Gallant Finance
Gallant Finance is an offshore broker. Your money is not safe.

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Gallant Finance is a forex and CFD broker offering four account types on the MetaTrader4 platform. If you are considering opening an account with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Bronze Account $100 1:100 3 pips, fixed
Silver Account $1000 1:100 2 pips
Gold Account $10 000 1:100 1 pip
Gallant Account $100 000 1:100 0,3 pips

 

Gallant Finance Advantages:

 

Variety of currency pairs and commodity CFDs

 

Gallant Finance offers some 47 forex pairs, including exotic currencies such as Russian Rubla, Swedish Krone, Singapore Dollar, Hong Kong Dollar, Mexican Peso, Danish Krone,  Norwegian Krone, Turkish Lira, South African Rand, Polish Zloti, Hungarian Forint, and Israeli Shekel. 

 

The broker also offers CFDs on spot metals - gold, silver, copper, platinum and palladium, commodities, including oil, natural gas, cocoa, coffee, corn, cotton, orange juice, soy beans, sugar and wheat, as well as major indices and stocks. 

 

With the Demo account we discovered even CFDs on Bitcoin, Etherium, Bitcoin Cash, Ripple, Litecoin and Dash – trading options not mentioned in the official presentation on the Gallant Finance website. Here you can check our list of brokers also offering CFDs on Bitcoin and other crypto currencies:

 

>>Bitcoin Forex Brokers<<

 

Various payment methods

 

With Gallant Finance you can deposit or withdraw funds with Visa and MasterCard, bank wire or e-wallets, such as Skrill, Neteller, UpayCard and Moneynet. However we do not see PayPall in the list nor the option to pay with Bitcoins. Here you can check our list of brokers, accepting Bitcoin as a payment method:

 

>>Forex Brokers Accepting Bitcoin<<

 

100 USD deposit for a starting account

 

With  Gallant Finance you can choose between four account types – a Bronze Account, which you can open with 100 USD, Silver Account with a minimum deposit of 1000 USD, Gold Account with a minimum deposit of 10 000 USD and a Gallant Account where you should invest at least 100 000 USD. Have in mind that while with most forex brokers you can open an account with about 100 USD, with some big players such as XM and FXTM you can open an account with just 5 USD.

 

MetaTrader4 Available

 

MetaTrader4 remains the ultimate solution for online trading and access to the forex and CFD markets with a wide range of functionalities that make it popular with beginner and experienced traders alike. Most notable however is the automated trading option, where traders can compile and run their own trade algorithms and market indicators and even test simulations, based on historical data. With Gallant Finance you can download a web or a mobile version of MT4 or use a web based version. Still, here you may check our list of brokers also offering the MT4 platform:

 

>>Find other MT4 brokers here<<

 

Gallant Finance Disadvantages:

 

Lack of regulation

 

Gallant Finance is owned by the Saint Vincent and the Grenadines based Gallant Private Financial Group. On its website the brokers does not mention anything about license or a regulation and that is unfortunate as brokers, operating without a license are considered unreliable. 

 

Regulated by well respected financial authorities brokers on the other hand provide sufficient security for all investors, as they have to abide by strict financial and ethical rules. 

 

Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) are among the most trusted institutions in the industry, which apart from the requirements for minimum operational capital, oblige supervised brokers to keep all clients funds in a segregated, protected form creditors account.

 

In addition CySEC and FCA brokers have to participate in traders' money insurance schemes. The FCA backed Financial Services Compensation Scheme for instance guarantees that traders will receive up to 50 000 GBP of their money back if their broker goes insolvent. Similar scheme insures up to 20 000 EUR of the invested with CySEC brokers capital. Here you can check our list of CySEC regulated brokers:

 

>>CySEC regulated broker<<

 

Uncompetitive spreads

 

With its standard Bronze Account Gallant Finance offers fixed spreads starting at 3 pips, which is about 2 times higher than what traders usually expect to see with a basic account. With the Silver Account the spreads are advertised to start at 2 pis, with a Gold Account at 1 pip, while with the premium Gallant Account they should be as low as 0,3 pips. The broker mentions nothing about a commission.

 

When tested with a Demo Account the EURUSD spread was fixed at 3 pips, as advertised for the  Bronze Account. Here you can check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

No information on the maximum leverage 

 

There is no information about the maximum leverage on the Gallant Finance website, but as tested with the Demo Account we were allowed to trade with a leverage of up to 1:100, which seems a bit conservative and yet enough to fit most trading strategies. Still, you may want to check our list of brokers, offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

Conclusion

 

Gallant Finance is an unregulated, offshore broker, offering little security to potential investors. As we already stressed, unregulated borers are not legally bound by any fiscal or ethical rules and and that significantly erodes their credibility. On the positive side Gallant Finance offers quite an impressive array of trading instruments and the MetaTrader4 platform. To get the better spreads however you will have to invest at least 1000 USD and that, as we mentioned, involves significant risk. 

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Traders` reviews for Gallant Finance

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Platform

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Scammers

The are cibernetics thiefs. They steal me 14,000 usd. Do not do any deposit to them

Celerino Manrique 06/20/2019

Gallant Finance Estafa

No hagan ningGallant Finance. Se quedan con tu dinero y no te lo devuelven. Son un engaño.

Translated by Google:

Do not do any Finance Finance. They keep your money and do not give it back to you. They are a deception.

Alcibiades Vicctor Morin Suarez 05/08/2019

Gallant Finance - its a scam

i took silver account 1000 eu and than i was called many times a day to do transactions i did well so i put another 500 eu. i made good transactions up to 3.400 eu and they stopped calling me and now my password dosent work and there is just one nr i call and there is a girl answering promising me assistant and nothing happens . most of the numbers and emails are fake. fake fake fake.

Jonas 10/04/2018

Gallant Finance Scam

I took a Bit Coin Account out with Brighter Trades through Bit Coin Loophole but somehow Gallant Finance piggy backed onto it. I thought that I was dealing with just the one company until I started receiving emails from both Brighter Trades and Gallant Finance. I paid out 3 lots of money, £250 to Brighter Trades [which was returned] and frauded out of £920 by Gallant Finance. I have asked Gallant Finance to return my money, but in spite of completing all the compliance documentation in order to do this they are saying that they require a further payment of £2300 before they will release my money. This I have refused to,do. As far as I am concerned Gallant Finance are just a bunch of fraudsters.

Alan Francis 07/27/2018

Unable to get cash back and close account with Gallant Finance

I woke up one morning reading the review of Gallant Finance and clicked on the page to find out more. Put my name in and phone number. I was contacted by them quickly and advised of all the services. I foolishly agreed to set up an account and deposit cash however within the hour changed my mind and emailed them asking to cancel what I had set up. I got no response just an email welcoming me to Gallant Finance. I emailed again advising my intention to not go ahead with the account but just kept getting getting the same email. I went on to the account and tried to withdraw the cash 3 x and was emailed saying that my request was being actioned but the money has never been returned and is still showing in my Gallant Finance account. Gallant have gone silent and not responding and my Crédit cars company are saying that as they are an unrelated company I will need to resolve the issue myself!

Craig Main 06/19/2018

Gallant Finance - SCAM

My husband invested quite a lot into Gallant Finance gold account. On advice from his Financial Advisor, he tried to close his account and get his money back. He was on a TRIAL account and advised that they can only trade with 20% of his money and that the other 80% was safe, what they really meant was it was safe in their accounts, never to be seen again by us.


Once we decided to close the account everything changed and our accounts manager decide to fritter away our investment until hardly anything left, but will they let us withdraw that, hell no!! It has been over three weeks and still the money sits in his account. Every now and then he will put a withdrawal request to the accounts department and despite the generic email saying that your withdrawal request has been received, it never gets processed.

Wilma Kelbrick 05/30/2018

Overview of Gallant Finance

This company has scam written all over it they withhold funds that don't belong to them and give false information about your capital

I lost 12k in the space of 3 weeks and have had the TRIAL account closed and they are not returning the pittance money that is left in the account
This company are not regulated in the UK and have no tracking address either
this information is backed up by the warning from global investments
I am willing to share my experience with anyone who has a similar problems with them or anyone who can help me to expose this scam company

Iain Kelbrick 05/30/2018

Gallant Finance keep your money

I signed up and paid £250 to Gallant finance who are now the trading partner of The Brit Method scam. I found out it was a scam and asked for my deposit back. I've been asking every day for 4 weeks now. They wanted a copy of a current bank statement, passport, driving license and a copy of my bank card. Seemed dodgy but they said I needed to provide this for a withdrawal. I did. STILL no withdrawal. I've been contacted by two managers now, none of which reply to me. There seems no help to recover my deposit - no trades were executed so no losses and the request was in the first week.
PLEASE DON'T LOSE YOUR MONEY LIKE ME AND MANY OTHERS. I came on to this site for help but can't seem to find anyone interested :(

James Allison 05/22/2018
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