Note: GGBINARYs official site - https://www.ggbinary.com/en is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is GGBINARY？
GGBINARY, a trading platform founded in 2014 and based in New Zealand, claims to offer a wide range of trading instruments. However, it is important to note that there are certain concerns regarding the credibility and transparency of this broker. The provided FSPR regulation is suspected to be a clone and not a valid regulation.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
GGBINARY Alternative Brokers
There are many alternative brokers to GGBINARY depending on the specific needs and preferences of the trader. Some popular options include:
eToro - A popular social trading platform that allows traders to follow and copy the trades of other successful traders.
Equiti - A trusted global broker specializing in online trading of forex, commodities, and indices, offering cutting-edge technology, superior execution, and comprehensive market analysis.
Interstellar FX - A trading platform that provides a wide range of financial instruments, leveraging advanced technology to offer a seamless trading experience to its clients.
Is GGBINARY Safe or Scam？
The New Zealand FSPR regulation (license number: 371806) claimed by this broker is suspected to be clone. Therefore, it currently has no valid regulation, which means that there is no government or financial authority oversighting their operations.
Besides,
the official website of GGBINARY is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
If you are considering investing with GGBINARY, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.
Market Instruments
GGBINARY offers a variety of trading instruments across different asset classes, including forex, cryptocurrencies, stocks, indices and commodities.
Forex: GGBINARY enables users to trade in the forex market, which involves buying and selling currencies. Traders can participate in major currency pairs like EUR/USD, GBP/USD, or USD/JPY, as well as minor and exotic pairs.
Cryptocurrencies: GGBINARY provides the opportunity to trade various cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and many others. Traders can take advantage of price fluctuations in these digital assets.
Stocks: GGBINARY offers access to trading stocks of various global companies. Traders can buy or sell shares in well-known businesses such as Apple, Amazon, Google, Tesla, and many more, based on their trading strategies and market analysis.
Indices: GGBINARY allows users to trade indices, which are composed of a basket of stocks representing a specific market or sector. Traders can speculate on the performance of indices like the S&P 500, Dow Jones Industrial Average, NASDAQ, FTSE 100, and others.
Commodities: GGBINARY offers trading in commodities, including natural resources or agricultural products. Traders can speculate on the price movements of commodities like gold, silver, oil, natural gas, corn, wheat, and more.
Accounts
GGBINARY offers two accounts for their clients:
The GG Simple Commerce account is the basic trading account offered by GGBINARY. The minimum deposit required to open this account is $200. Traders with this account type have access to a range of trading instruments across different asset classes. They can trade forex, cryptocurrencies, stocks, indices, and commodities. This account provides users with essential features and tools to execute their trades effectively.
The Plus Commerce account is a more advanced account type offered by GGBINARY. The minimum deposit required for this account is also $200. Traders with a Plus Commerce account receive additional benefits and features compared to the GG Simple Commerce account. These may include access to more advanced trading tools, personalized customer support, exclusive educational resources, and potentially lower trading fees.
Trading Platforms
GGBINARY offers the popular MetaTrader 4 (MT4) trading platform for its clients. MT4 is a widely recognized and widely used platform in the financial industry. It provides traders with a user-friendly interface, advanced charting tools, and a wide range of technical analysis indicators. Traders can access real-time market data, execute trades, and manage their accounts all within the MT4 platform.
One of the key advantages of the MT4 platform is its versatility. It supports trading in multiple asset classes, including forex, cryptocurrencies, stocks, indices, and commodities. This allows traders to have all their trading activities centralized in one platform, making it convenient and efficient to diversify their trading portfolio.
See the trading platform comparison table below:
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: English +852-30201788
Japanese 85230501788
Vietnamese 85251697597
Chinese (Simplified) 85230501749,85230501788,85266185612
Email: info@ggbinary.com
outreach@ggbinary.com
csvn@ggbinary.com
QQ: 800191251
Moreover, clients could get in touch with this broker through the social media, such as Twitter, Facebook, Instagram and Linkedin.
Twitter: https://twitter.com/ggbinaryvn
Facebook: https://www.facebook.com/ggbinary
Conclusion
In conclusion, GGBINARY is a trading platform that claims to offer a variety of trading instruments across different asset classes. However, it is important to note that there are concerns regarding the legitimacy and regulation of this broker. FSPR regulation is suspected to be a clone, raising doubts about the validity of their regulation. Additionally, the inaccessibility of the official website suggests that the trading platform may have absconded. These factors indicate a lack of valid regulation and transparency, making investing with GGBINARY potentially risky.
Frequently Asked Questions (FAQs)
2023-03-23 17:46
