Overview of GQFX
GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB). However, the validity of these claimed regulations is suspected, and the regulatory status of GQFX is classified as a “Suspicious Clone.” The broker lacks valid regulation, raising concerns about its legitimacy and reliability.
GQFX specializes in forex brokerage, offering access to execution through various banks and liquidity providers. They emphasize narrow pricing and strive to provide the lowest cost for forex trading. However, specific details about the features and trading conditions of their accounts are not provided. They offer two types of accounts: live accounts for real-time trading and demo accounts for practice trading without risking real funds.
GQFX offers a maximum leverage ratio of 1:100, which is considered average compared to other brokers. The spreads offered by GQFX for major currency pairs appear to be on the higher side when compared to industry standards. They provide multiple trading platforms, including MT4 for various devices, offering user-friendly interfaces and trading tools. Customer support services are available through email, but further details about the responsiveness or availability of support are not provided.
Pros and Cons
GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB). However, it has been determined that these claimed regulations are suspected to be clones or invalid. The regulatory status of GQFX is currently classified as “Suspicious Clone,” indicating that it lacks valid regulation. This raises concerns about the legitimacy and reliability of the broker. GQFX offers two types of accounts: live accounts and demo accounts. It provides a range of trading platforms, including MT4 for various devices and operating systems. While GQFX offers multiple deposit options, the spreads for major currency pairs appear to be on the higher side compared to industry standards. Customer support details are limited, and the quality and responsiveness of their support services cannot be assessed based on the available information. Overall, the suspicious regulatory status and limited information about customer support are factors to consider when evaluating GQFX as a potential broker.
Is GQFX Legit？
GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), respectively. However, it has been determined that these claimed regulations are suspected to be clones or invalid.
The BelizeFSC regulation license number provided by GQFX is IFSC/60/445/TS/19, while the BahamasSCB regulation license number is SIA-F206. It should be noted that both of these regulations are offshore regulations.
The regulatory status of GQFX is currently classified as “Suspicious Clone,” indicating that it lacks valid regulation. This raises concerns about the legitimacy and reliability of the broker.
GQ Capital Inc., the licensed institution associated with GQFX, is located at No. 5 Cork Street, Belize City, Belize, C.A., with an email address of info@gqfx.com and a phone number of 501-223-6910.
GQ Capital Markets Limited, the licensed institution associated with GQFX, is located at 208 Church Street, Sandyport, Nassau, Bahamas. However, the phone number and website information for this institution are not provided.
Market Instruments
FOREX Trading: GQFX specializes in forex brokerage, offering access to execution through various banks and liquidity providers. They emphasize narrow pricing and strive to provide the lowest cost for forex trading. The company continually works to improve their system for traders, aiming to deliver a trusted trading framework.
Pros and Cons
Account Types
GQFX offers two types of accounts: live accounts and demo accounts. Live accounts are used for real-time trading with real money, while demo accounts allow users to practice trading without risking real funds. Specific details about the features and trading conditions of the accounts are not provided.
How to Open an Account
To open an account with GQFX, follow these steps:
Visit the GQFX website and click on the “Open Account” button.
2. Fill in your email address and phone number.
3. Check your email inbox for a verification code.
4. Enter the verification code provided in the designated field.
5. After entering the verification code, you will be directed to the login page.
6. Set up a nickname for your account. Please note that the nickname should consist of half-horn characters.
7. Enter a valid nickname that meets the requirements.
8. Set a password for your account. The password strength will be indicated as weak, normal, or strong based on the complexity of the password.
9. Confirm your password by re-entering it in the designated field.
By completing these steps, you will have successfully opened an account with GQFX.
Leverage
GQFX offers a maximum leverage ratio of 1:100 on their trading platform. This leverage ratio is considered to be within the average range compared to other brokers. It's worth noting that professional traders may find this leverage ratio to be suitable for their trading strategies and risk management practices.
Spreads
The spreads offered by GQFX are mentioned on their website, providing specific details for various currency pairs and commodities. The spread on EUR/USD is approximately 2 pips, EUR/GBP around 2.3 pips, GBP/JPY around 3.3 pips, GBP/USD around 2.4 pips, XAUUSD around 0.5 pips, and XAGUSD around 0.044 pips.
It's worth noting that when compared to industry standards, the spreads offered by GQFX for major currency pairs appear to be on the higher side.
Deposit & Withdraw
DEPOSIT OPTIONS:
GQFX offers several ways to deposit funds into your account. These options include Bank Wire Transfer for both domestic and international transactions, Credit Card payments using Visa and MasterCard, PayPal, and Union Pay. It is important to note that a minimum deposit of US$100.00 or its equivalent is required to initiate trading with GQFX.
WITHDRAWAL PROCESS:
To withdraw funds from your GQFX account, you need to fill out a Withdrawal form available in the Client Area. The processing time for withdrawals is estimated to be between 2 to 5 business days.
Pros and Cons
Trading Platforms
GQFX offers multiple trading platforms, including MT4 for Windows, MT4 for Mac, iPhone App, Android App, iPad App, and Tablet App. These platforms provide user-friendly interfaces and various trading tools for efficient trading. MT4 is recognized as the world's most popular forex trading platform, offering easy navigation, numerous indicators, and charting capabilities. The mobile apps for iPhone, Android, and iPad allow traders to access their accounts on the go and provide features such as real-time exchange rates and speedy executions. The Tablet App offers a user-friendly interface and efficient analysis tools. Overall, GQFX provides a range of platforms to cater to different devices and operating systems, enhancing the trading experience for its clients.
Customer Support
GQFX provides customer support services to its clients. To get in touch with the customer support team, individuals can reach out to GQFX through the provided email address, info@gqfxtrading.com. Clients can use this email to submit their inquiries or concerns.
However, further details regarding the specific features, responsiveness, or availability of customer support are not mentioned in the provided information. The location of GQFX's Central America office is stated as the First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
To contact the customer support team, individuals are required to provide their first name, last name, email address, mobile number, and comments or inquiries. These details can be included in the email message to initiate communication with GQFX's customer support. It is important to note that the level of customer support quality and response time cannot be assessed based on the available information.
Conclusion
GQFX, also known as GQ Capital Inc. and GQ Capital Markets Limited, claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), but these claimed regulations are suspected to be clones or invalid. The broker's regulatory status is classified as “Suspicious Clone,” raising concerns about its legitimacy and reliability. GQFX offers two types of accounts: live accounts for real-time trading with real money and demo accounts for practicing trading without risking real funds. However, specific details about the account features and trading conditions are not provided. GQFX provides multiple trading platforms, including MT4 for various devices, but the quality and responsiveness of customer support cannot be assessed based on the available information. Traders should be cautious and consider the potential risks associated with GQFX.
FAQs
Q: Is GQFX a regulated broker？
A: GQFX claims to be regulated by the Belize Financial Services Commission (BelizeFSC) and the Securities Commission of The Bahamas (BahamasSCB), but these claimed regulations are suspected to be clones or invalid.
Q: What types of accounts does GQFX offer？
A: GQFX offers live accounts for real-time trading with real money and demo accounts for practice trading without risking real funds. Specific details about the features and trading conditions of the accounts are not provided.
Q: How can I open an account with GQFX？
A: To open an account with GQFX, visit their website, fill in your email address and phone number, verify your email, set up a nickname and password, and complete the registration process.
Q: What leverage does GQFX offer？
A: GQFX offers a maximum leverage ratio of 1:100, which is considered average compared to other brokers.
Q: What are the spreads offered by GQFX？
A: GQFX provides spreads for various currency pairs and commodities on their website. The spreads for major currency pairs appear to be on the higher side compared to industry standards.
Q: How can I deposit and withdraw funds with GQFX？
A: GQFX offers several deposit options, including bank wire transfer, credit card payments, PayPal, and Union Pay. To withdraw funds, fill out a withdrawal form in the client area and allow 2 to 5 business days for processing.
Q: What trading platforms does GQFX provide？
A: GQFX offers multiple trading platforms, including MT4 for Windows, MT4 for Mac, and various mobile apps for iPhone, Android, and iPad.
Q: How can I contact GQFX customer support？
A: You can contact GQFX customer support by email at info@gqfxtrading.com. Further details about the support features and responsiveness are not provided.
