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RATING: 2 / 2 REVIEWS ForexBrokerz is an offshore broker. Your money is not safe.


Trading Accounts


Account type Minimum deposit Maximum leverage Spread
Standard $100 1:200 From 5.2 pips*

*This is what we saw during our testing with the trading platform and not the actual claims of the brokers. is a forex and CFD broker, which also offers an interesting portfolio management solution. Islamic (swap-free) accounts are also available upon request. 


The Company. Security of Funds 


Company Country Regulation
GS Sharestocks Ltd Cyprus CySEC (Under examination for voluntary renunciation) is owned and operated by GS Sharestocks Ltd. The company is registered in Cyprus, but more importantly is overseen by the local Securities and Exchange Commission (CySEC). This generally brings a lot of credibility to them, especially when compared to unregulated or off-shore brokers.

While you may associate Cyprus with sunny beaches or the political tensions of the past, the country’s retail forex industry is thriving. This is due to multiple factors, one of which is the European Union’s MIFID, which allows brokers who are licensed in one country to operate in the entire single market. That being said the Cypriot regulatory body has to enforce a lot of strict rules. While the reporting standards and €730,000 capital requirement are often the biggest concerns for the brokers themselves, clients should care a lot about the next two rules:

First and foremost, all of the traders’ capital is held in the so called “segregated accounts”. This implies the broker can’t freely access your funds – transfers are done only after following specific rules. On top of that, all CySEC regulated brokers must participate in the local investor compensation scheme. This is a mechanism, which ensures protection, in the off-chance the broker becomes insolvent. The scheme in Cyprus covers investments up to €20,000, per account. also offers managed accounts.

That being said, they are licensed for this activity and it is done in an interesting way. The company provides “automated investment strategies”(which by the looks of things are very different from the Expert Advisors, you may be familiar with). You can either pick among them, or follow the portfolio-creation questionaly.

The latter options features a series of questions about your, age, net worth, the amount of time you would wish to invest for and a way of determining your risk tolerance. Here is a preview, with one of the trickiest questions available:

After filling the form, you will be given a recommended portfolio of strategies. Here is what we got when testing relatively conservative settings:

Trading with such a portfolio does comes with its separate fees. They vary on the size of your investment (in relation to €10,000). Here is a breakdown:


Account size Annual Management fee Performance fee
Under €10,000 1.5% (0.124% monthly) 15% (charged quarterly)
Over €10,000 0.99% (0.082% monthly) 15% (charged quarterly)

In case you are not familiar, this is the same model used by most hedge funds. The management fee is collected as a portion of your account balance. The fact does that on a monthly basis may be disturbing to some clients, but in reality shouldn’t be, as no lock-up clause is in place (you can withdraw your funds at any time). 

The performance fee is only charged on the net profits. The high-water mark rule obviously applies. That being said, we are left with negative feelings about a broker offering any form of managed accounts, as there is a lot of room for conflicts of interest. As an example, the strategies utilized by may trade too frequently, in order to generate more revenue in commissions for the company.

Trading Conditions


Minimum Initial Deposit

The minimum deposit at varies by payment method, from $100 for e-wallets, to $250 for Credit Cards to $500 for Bank Transfers. This is an interesting policy, which is probably associated with the costs of processing the different payment methods. While the levels are not too crazy, some traders may be willing to start out with even less. Luckily there are brokers, who offer even lower entry barriers, like FXCM, where you can start with $50. 


Average spreads & Commissions

Spreads at are not fully disclosed upfront. While they provide two trading platforms (which we will cover in greater details below), the “simple” trading has some of the characteristics of option trading, while the “pro” offers a classic trading environment. The conditions we found in the latter are much worse than the current industry standards. The EUR/USD spread, as depicted in one of our later screenshots is the astronomical 5.2 pips. There isn’t much ground for comparison to the rest of the industry, where 1.5 pips is often viewed as a high level. For a more detailed view of the industry, check out our real-time spread-tracking platform.


The maximum leverage at is 1:200, although the initial one is 1:50, as per CySEC regulations. Both of these levels are what one would consider normal for the current environment, especially since some borkers offer 1:500 (and occasionally even more).

For those of you who are newer to trading, we must mention the fact tradig with high leverage ratios is risky. The reason why CySEC forced all CFD brokers to initially set the leverage at 1:50 is to protect clients from their own greed (or lack of trading knowledge).

Trading Platforms 


As briefly mentioned above, there are two trading platforms available at Both are web-based solutions, with mobile apps also supported for the iOS and Android app-marketplaces. Here is a preview of the “Simple” trading layout, which only features a number of instruments.:

When placing an order, one is faced with a panel, which allows him to set-up the parameters of the deal. It looks like this:

This looks like a mix between a binary option and spot trading. As we have mentioned in other reviews, this method of applying risk management is very counter-intuitive. Experienced traders usually pick a level on the chart, which will deem their trading idea invalid and then determine their position size, based on the distance to their entry point and account balance.

On the other hand, the “Pro” trading app is what most brokerages will call a standard one. Here is how it looks:

The charting package is provided by TradingView, which is one of the best (a noteworthy competitor to the one in MetaTrader4). Other than that, the platform feels stable, although lacking some of the functionality of more sophisticated solutions.


Methods of Payment 


The methods of of payment at include Bank Transfer, Credit/Debit Cards, iDEAL, Sofort, Skrill and Neteller. Basically only the Bitcoin crowd is left out.


Conclusion is a CySEC-regulated broker, offering an interesting service. The trading conditions which were available, during our testing of their platform were terrible. Other than that, the managed accounts functionality is more sophisticated than what the majority of the competition have to offer. Tinkering with the portfolio creation tool seems fun and interactive – you can actually see it change, based on different input parameters. That being said we are slightly sceptical of all brokers who offer to mange your account, for obvious reasons. We are left with mixed feelings about this unusual broker: 


Pros Cons
CySEC regulation High spreads
Portfolio customization tool Offering managed accounts
  Basic trading platform


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Traders` reviews for
















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I have noticed that they plant fake traders on their forums to get traders to lose their money. They have members to go up against others members to get them banned because they are better traders and these members who complains about these better traders gets taken off site. is corrupt and they make fake members just to get traders to lose their money. Stay away and don't trust them. Trust me, you will lose your money if you have any dealing with Many reports have been filed against them and they are under review now. DO NOT TRUST THEM or the members. Check how long a member has been there before you follow. Investing up to no good

Ozzy Brent 06/19/2019

total harassment

Despite several requests and demands to stop calling me, so-called Kevin keeps calling me. I wanted to out your service in peace; in stead I'm harassed and pushed by some Indian bloke with a bad accent calling from a food court (sounds like it)?
I believe your company should regard the laws of the countries it's operating in and seriously considering a law suite after the next call. It will cost me, but I will make sure it will be a good investment.

B Bos 04/02/2019

Not Giving Money back

I invested £500, did not get a chance to set it all up so did nothing with my money for a few months. When I contacted them to withdraw my money I didn't get anywhere, I rang, emailed on numerous times but did not get any response.

Gavin Cameron 06/11/2018 and and is the same company but diffrent name only if you want to get bonous
They switch you between the companies..once you are in and start trading and the market goese against your
Trades here starts the problem..if you have bonous from them and the market goese against and start to be close
To your bonous they close your trades automaticly and in your equity you only have the bonous left
Which you cannot use or do anything..they stop responding and ignore tou totaly..

Ali zaarour 12/17/2017
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