GFS Review: Reported Allegations of Fund Scams & Withdrawal Denials

Received a withdrawal notification from GFS, but the amount could not be credited to your wallet despite numerous follow-ups with the Australia-based forex broker? Did you witness massive slippage in your stop-loss settings or pay high transaction fees charged by the broker? Did the broker delete and deactivate your trading account without any explanation? The Internet is flooded with negative GFS reviews for these and many more alleged trading activities by the broker. Lets begin examining all of these in this article.

Investigating the Top Forex Trading Complaints Against GFS

Withdrawal Initiated But Not Credited to the Traders Account

A Vietnam-based trader admitted having received a successful withdrawal notification. However, the trader alleged not to have witnessed a successful transfer of the amount to the wallet address. Despite multiple emails aimed at resolving this issue, the trader highlighted no response from the broker on this issue. The trader expressed frustration over the inability to access the GFS login page. Failing to receive funds, the trader shared this GFS review to highlight the entire incident. Take a look!

Another Fund Withdrawal Glitch Case Against GFS

Another trader from Vietnam revealed contradictory information concerning fund withdrawals from GFS. The trader reported having been informed by the broker of fund withdrawals within 24 hours. However, even after seven days, at the time of writing the GFS review, the trader alleged no withdrawal processing by the forex broker. The screenshot below perfectly sums up the trading experience many traders allegedly face here.

Repeated Emails, But Still No Withdrawals Made Possible

A trader emailed GFS several times seeking fund release from the exchange. Despite this, the trader was made to wait every time. Frustrated by the constant wait, the trader shared this complaint online.

This complaint was even more painful as the trader lost everything and failed to withdraw from his GFS forex trading account. Here is the critical GFS review, containing several trading screenshots.

The Fine Allegation on GFS Fund Withdrawals

Another startling revelation came from a trader who highlighted that if a clients request for profit withdrawals lasts beyond a week and does not have enough lots for withdrawals, the broker may impose a fine. Here is the review supporting this complaint.

GFS Accused of Excessive Fees, Misleading Trading Practices and Investor Losses

A trader from Hong Kong alleged that GFS agents lured investors through training competitions and group signals, encouraging heavy-position trading to generate high handling fees. The complaint claimed $50 per lot in commissions, widened spreads, unfavorable exchange rate conversions, and slippage practices led to significant losses — reportedly over $60,000 in this case. The complainant also accused the company of dismissing concerns by citing regulatory compliance while allegedly protecting agents and ignoring investor grievances. To know more about this GFS review, read this screenshot.

The Fraudulent Trading Allegation Against GFS

This complaint is another demonstration of how GFS allegedly carries out fraudulent trading activities through several competitions and training classes. As per a trader, the broker lured them into investing through a group and earned through high commissions and extreme slippage. The complaint claimed daily trade calls by the broker, resulting in daily stop-losses. This led to a significant capital wipe for the trader, who admitted having lost $5,700 through commissions only, let alone spreads and other fees. Annoyed by the overall trading experience, the trader vented out with this negative GFS review.

A Claim Involving Exorbitant Commission & Spreads Charged by GFS on Transactions

Another Hong Kong-based trader claimed that GFS made him join a group for forex trading, which he did not have any idea about before. Citing scams by top broker officials, the trader highlighted high commissions and wide spreads on forex transactions. Have a look.

Platform Access Issues and Slippage Complaints

A user reported being unable to withdraw funds after the brokers Australian website link was allegedly shut down, preventing account access. The complaint highlighted severe stop-loss slippage, high transaction fees and poor customer service, stating that KYC documents from Australia were not accepted — effectively blocking Australian clients from retrieving their funds. The complainant warned that similar issues could potentially affect investors in other regions. This screenshot opens up the worst trading experience the trader allegedly had with GFS.

Investigating the Account Deletion & Deactivation Claim

A Norway-based trader sounded frustrated after GFS allegedly deleted and deactivated his trading account after he tried to contact the broker through the MetaTrader 5 login. The trader, in turn, asked the customer care service, but to no avail. All this only led to the capital loss for the trader and a sharp response online.

GFS Review by WikiFX: Is It Real or Fake?

The growing number of complaints against GFS hints at a possible lack of regulation for the broker. This was further affirmed by the WikiFX teams investigation, which revealed no license for GFS despite having an operational track record of over five years. With no license, it is evident that trading with GFS carries inevitable risks for traders. The score for the broker stands at a poor 1.56 out of 10.

This revelation also makes it vital to trust independent forex broker inquiry tools, such as WikiFX, before investing.