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GigaFX Review

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GigaFX is a Forex broker that claims to operate within the Jurisdiction of the EU. The company boasts 3 offices in Estonia, the UK, and Germany. GigaFX is a child company of the Commonwealth of Dominica based Four Square International Ventures Ltd. The leverage available starts at 1:100 and ends at 1:200. Spreads are fixed for all accounts and are 0.7 pips. The minimum deposit of the company is an industry standard of EUR 250. GigaFX Forex broker does not feature a regulatory license of any shape or form right now. Neither in the EU nor in Dominica.

FXLinked Review

Leverage: 1:200               Licences: N/A

Min. Deposit: 250 EUR  Bonus: N/A

Spreads: from 0.7 pips        US Clients: No

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The layout of GigaFX

In  GigaFX reviews, we will focus not only on the technical aspect of the company but also the way it presents itself, how good the transparency is from their side and of course, how is the company able to operate in the EU.

The first question that needs to be answered is the transparency of the company. They do indeed provide a lot of information to the customers, however, some of the information is contradictory. Meaning that the company claims one thing, but does the other. For example, GigaFX Forex broker claims to be compliant to the MiFID regulations, while at the same time offering leverage of more than 1:30, which is a clear violation of the ESMA guidelines.

GigaFX scam

They also claim to have offices in the UK, Germany, and Estonia, while being owned by a Dominican based company, and not holding any type of regulatory license within or even outside of the EU.

GigaFX features

In terms of features, the company does indeed offer at least some type of benefit to their customers if they, of course, decide to overlook the security issue and deposit funds with the broker. We are now moving to the technical aspect of this GigaFX review, meaning that we will cover the Leverage, Spreads, Withdrawals & of course the support that the broker offers.

In terms of Leverage, the company offers more than any legitimate EU based brokerage can. The maximum limit at this point is 1:200 and pairing that up with a EUR 250 deposit is a nice way to maximize trades. However, it is still very dangerous to trust the company to direct your trades to the market or even processing the trade at all.

Aside from the massive security issue that is the lack of regulation, the company has some of the most bizarre withdrawal policies in the industry. According to GigaFX.com, any withdrawal request will need to be screened for 5 business days, after which the staff will decide whether or not to approve it. This adds 5 days to the already long 10 business day wait for Credit/Debit card users when applying for a withdrawal. And what’s worse the GigaFX scam becomes a real possibility if the broker outright denies the request. In addition to that, the customer will also have to pay a fee.

The spreads on the GigaFX.com platform are quite nice, however. Having a fixed 0.7 pip spread is a luxury many broker customers do not have and would like. If GigaFX scam was a reality, this spread would definitely be the main way to attract new customers.

GigaFX support

GigaFX provides several Ebooks and educational videos on Forex trading and general economics. We cannot deny the fact that this is a great addition for any beginner trader to quickly learn the trading process. Along these educational resources, GigaFX also offers Market news, signals and various other benefits to the customers. But is it enough to disprove the GigaFX fraud? Is it enough to outweigh the massive disadvantage of terrible withdrawal policies and lack of license?

GigaFX fraud

Is GigaFX legit?

It all boils down to whether or not the GigaFX scam is a reality or not. If the fraudulent business model is proven to be a reality, then all the benefits and good features we have mentioned will mean nothing. However, it is hard to really tell whether or not this company is a scam, but they are definitely leaning towards it. We cannot label it as a scam right now, but we recommend our readers to avoid the company by any means necessary.

Since it is hard to determine whether or not a company is a scam or not, it is already a red flag for beginners. A good company is just good, there are no questions tied to their operations. A shady company will always have some skepticism towards their business model and GigaFX is exactly that type of company.

GigaFX Review Overall rating: 0 out of 5 based on 0 reviews.
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JP Markets Broker Review

There are millions of people around the world who wish Forex trading was less mysterious. There is no denying that there are hundreds if not thousands of unregulated FX brokers which make FX trading a less attractive investment destination for many people. There are several basic features that every broker must satisfy in order for them to be considered legit. In our objective JP Markets review, we are going to look into the regulation details, account types, customer service, leverage, withdrawal of funds among other features of this broker.

JP Markets logo
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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FXLinked Review

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What’s so bizarre about the Forex market is the number of Forex brokers that pop up and then disappear without a notice. What’s even weirder is that new brokers then appear with the same design and relatively same name, so it gets you thinking, “What are these Brokers?”. Well, it is quite simple really. Most scam brokers disappear after they have been unearthed, lay low for a few weeks and then emerge completely rebranded, with no traces left from the previous brand.

This is why we believe that a thorough review of a broker is necessary before you commit to trading with them. Many traders avoid this job because they don’t want the extra hassle and decide to form their opinions on the spot. Unfortunately, however, forming an opinion while already trading with a specific Forex broker already takes more time, meaning that you not only risk your money but also lose more time.

This is why we have created this FXLinked review, in order for you to prevent any unnecessary loss in your time and money. Not only will you find out more about this specific broker, but you’ll also have more knowledge about rating them as a whole.

FXLinked Review
Leverage: 1:400 Licences: FSA

Min. Deposit: 10 USD Bonus: 50%

Spreads: from 0 pips US Clients: N/A

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Capital.com Forex broker Review

Most of the time, people find themselves lost when they try to search for a Forex broker with whom they can open an account with. This is because there is an immense number of brokers out there. People generally lack the knowledge to know what to check and the presence of rogue brokers makes it tough. In our Capital.com review, we are going to look into the main features of the brokerage firm which should help you determine whether its legit or not.

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  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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Trade Capital Review

Before we start this Trade Capital review, we would like to talk about broker reviews in general. We are pretty sure that by now you have already understood the importance of reading reviews. Even if you wholeheartedly believe that a broker is trustworthy, even if you’ve already had the first-hand experience, it is always healthy to see the story from another perspective. That is why we always make reviews based on facts and statistics. Generally, traders will have a similar experience with a broker, therefore you can always check up on their forums or social media to see how your fellow traders are faring. Unfortunately, for Trade Capital, such forums are nonexistent.

Trade Capital Review
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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MXC Forex Broker Review

MXC Forex broker is one of the many options you have if you are looking forward to starting a career in FX trading. The broker has invested in a colorfull website which displays the five different types of accounts it offers traders. But as you may be well aware, a variety of accounts by a broker is just one of the factors that a trader will consider when shopping for the right FX broker. Let us explore the various features of this broker;

MXC-logo
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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Orbex Forex Broker Review

Since online Forex brokers took over the Forex market, traders have been treated to a long and increasing list of flashy brokers. Even though the longer the list the better for the trader since competition injects new blood into the market, it is important that a trader checks whether such a broker is licensed and regulated. Since 2011, Orbex Forex broker has been operating using a CySEC license. In fact, the broker has been recognized in at least seven different occasions for its service excellence and educational program. Still, there are a few features we will look to help into to you determine for sure whether you should go with this broker or not.

orbex logo
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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Wilkins Finance Forex Broker Review

Many are the times that Forex traders especially the newbies lose money. A leading reason for this phenomenon is dealing with rogue FX brokers. In order to be sure that you are dealing with a reliable broker, you will need to do some in-depth research. In this Wilkins Finance review, we are going to take a look at some of the firm’s features and statements to help us determine whether it is wise to invest your money with the broker.

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  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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BidAsko Forex broker review

BidAsko is a Forex broker that has been in existence since 2011. Like every other FX trader, you will want to know more about the firm than just the number of years it has been around. Well, in our BidAsko review, we look into some of the features which will help you not only know whether the firm is legit or not but also help you know how safe your money is when you invest with them. Here are some of the features;

BidAsko logo
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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Alvexo review

Alvexo which is owned by VPR Safe Financial Group Limited was established in 2014. It has its headquarters in Limassol, Cyprus. Besides Limassol, Alvexo has operations offices in the UK and Switzerland. According to the official site, Alvexo specializes in global financial markets. It continues to state that traders are able to trade in currency and CFDs in a safe environment.

Alvexo
  Min. Deposit:
 $200

  Trading Platform: MT4

   US Clients: Not Available

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