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GIFX Capital Review - is it scam or safe?

GIFX Capital Review - is gifxcapital.com scam or good forex broker?

RATING: 1 / 3 REVIEWS ForexBrokerz GIFX Capital
GIFX Capital is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage  Spreads and commission* 
Cent $10 0.1 1:1000 From 0.8 pips + $2 / lot
Standard $100 0.1 1:1000 From 0.8 pips + $2 / lot
Standard $500 0.1 1:1000 From 0.8 pips + $2 / lot
Premium $1000 0.1 1:1000 From 0.8 pips + $2 / lot

 

*The trading conditions according to the information on the broker’s website.

 

Like most brokers, GIFX Capital offers its clients several account types. Oddly, all account types are said to offer the same trading conditions: dangerously high leverage (up to 1:1000), variable spreads from 0.8 pips and commission of $2. This seems strange and ungrounded, as usually the accounts requiring higher initial investment provide better trading conditions.

 

Worse still, when we tried out GIFX Capital‘s  demo MT4 account, we found that the spread on EUR/USD is fixed at 4 pips. Such spread is extremely high, as most fixed-spread brokers offer 2 pips spread on majors. Besides, the inconsistency between the spreads announced on GIFX Capital’s webpage and the ones on the broker’s demo platform immediacy raises a red flag.

 

The Company. Security of Funds

 

Company

Country

Regulation

SM GLOBAL INVESTMENT LTD

UAE

N/A

 

Another red flag upon visiting the GIFX Capital website is that the phone number provided is with the US country code (+1), while the broker claims to be headquartered in Dubai. Furthermore, the company behind the brand, SM GLOBAL INVESTMENT LTD., is not regulated by any authority.

 

Investing your money in an unregulated broker is a risky business and we generally advise traders to stay away from such brokerages and to select among companies licensed by reliable financial agencies such as UK’s FCA or Cyprus’ CySEC, for example.

 

Besides, GIFX Capital’s website seems quite crappy, as some of the links do not work, especially the ones at the bottom of the page.

 

Trading Platforms

 

As we have already mentioned, GIFX Capital supports the MetaTrader 4, the terminal that holds the title “most popular forex trading platform” for more than 10 years now.

 

Indeed, the MT4 offers some distinct advantages compared to other platforms, such as custom made technical indicators, extensive back-testing environment, top notch charting tools and trading automatization options with the most widely used trading robots (aka EAs).

 

 

GIFX Capital’s demo desktop MT4. Click for a larger image.

 

Methods of Payment

 

We could not find any information about the payment methods offered by GIFX Capital. We suppose it must use at least bank wire transfer and credit/debit.

 

Conclusion

 

GIFX Capital is a forex and CFD broker without a license or a clear base of operations. Besides, the trading conditions announced on its website differ significantly from the ones on its demo MT4 platform. To sum up the above:

 

Pros

Cons

MT4 available   

Not regulated

 

Unclear base of operations

 

High fixed spreads on demo accounts

 

Lack of transparent pricing

 

Crappy website

               

Latest news about GIFX Capital
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Traders` reviews for GIFX Capital

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

SCam broker

Anil is owner.
Scammer. Fake broker. No regulation. B book fully to dupe you of your money.

Srijana 08/07/2019

baseless office address

Guys the metion office drress is some one other broker address. dont give unethical data that is office is based on 1305 , citadel tower in business bay.

michel 03/02/2019

Fraud boss

Guys Perfectly fraud..office location No. 1305, CITADEL TOWER, BUSINESS BAY, DUBAI UAE.

Kiran 07/19/2018

Scam Company

i open account in GIFX CAPITAL Account Number 434148 . i Withdraw my 10000 amount prevoius 25 days but still payment not recived. that company executive only ask tomorrow next tomorrow nd next tomorrow. dont be invested ur money in this company. its not safe

Maurizio Cattaldo 01/30/2018
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