GDFX

GDFX | 2024-09-19 17:11

Extracto：GDFX was operated by Golden Financial Service Ltd. in New Zealand in 2018. It offers three live account types, but the demo account is hard to register. Besides, its trading platform, MT5, is very popular, which can help it attract more traders. However, it currently has no valid regulations, and its spread is higher than other brokers. So it is costly and unsafe.

GDFX Information

GDFX was operated by Golden Financial Service Ltd. in New Zealand in 2018. It offers three live account types, but the demo account is hard to register. Besides, its trading platform, MT5, is very popular, which can help it attract more traders. However, it currently has no valid regulations, and its spread is higher than other brokers. So it is costly and unsafe.

Pros and Cons

Pros	Cons
Popular MT5 trading platform	Not regulated
Various account types	Lack of transparency
	Wide spread from 1.5 pips
	High minimum deposit ($500)

Is GDFX Legit?

Though GDFX claims to be regulated by the UK's Financial Conduct Authority (FCA) and New Zealand's Financial Markets Authority (FMA), actually it is not regulated by any financial authorities. Even the FMA has issued a warning against it. Traders should be cautious when choosing a broker.

GDFX's license is suspicious. Its license is regulated by Australia, where it is not New Zealand or UK. Additionally, its licensed institution is GDFX FINANCIAL PTY LTD, not GOLDEN FINANCIAL SERVICE LIMITED. Even by the license of Financial Service Providers Register (FSPR), GDFX appears to be revoked.

Regulatory Authority	Financial Service Providers Register	Australia Securities & Investment Commission
Regulatory Status	Revoked	Suspicious clone
Regulated by	New Zealand	Australia
Licensed Institution	GOLDEN FINANCIAL SERVICE LIMITED	GDFX FINANCIAL PTY LTD
Licensed Type	Financial Service Corporate	Common Business Registration
Licensed Number	560146	616397061

What Can I Trade on GDFX?

Tradable Instruments	Supported
Forex	✔
Precious metals	✔
Securities	✔
Futures	✔
Stocks	✔
Options	❌
ETFs	❌

Account Type (Minimum Deposit/Leverage/Spread)

GDFX provides 3 account types: Fixed Mini, Fixed standard and ECN. But it is difficult to register a demo account.

Account Type	Minimum Deposit	Leverage	Spread
Fixed Mini	$500	1:200	from 1.8 pips
Fixed standard	$500		from 1.5 pips
ECN	$1 000		from 1.8 pips

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT4	✔	Web, Mobile, Desktop	Beginners
MT5	✔	Web, Mobile, Desktop	Experienced traders

Customer Service

Contact Options	Details
Phone	0085269488536
Email	cs@gdfxhk.com
Support Ticket System	❌
Online Chat	❌
Social Media	❌
Supported Language	Chinese, English
Website Language	Chinese, English
Physical Address	❌

The Bottom Line

In conclusion, trading with a transparent and reliable broker is very important. GDFX lacks regulation that means it does't need to disclose its information. If traders depoist at least $500 according to the requirements, their funds may be difficult to withdraw. Therefore, keep cautious.