Important details about Forex GB Company
Absence of transparency and confidentiality is a sign that cannot be overlooked when selecting a financial partner. Today, we will examine one of such intermediaries – Forex GB. This company remains a mystery: the lack of independent reviews and real feedback raises doubts about its honesty and reliability. Let’s take a closer look at what is known about forex.gb.net.
Description of Forex GB Company
Information about the forex.gb.net company leaves much to be desired. Its official website does not have a “About Us” section, no company history is provided, no roadmap for development or information about the duration of operation. Checking the whois data revealed that the company is a newcomer to the market. Even specialized services could not accurately determine the launch date of the forex.gb.net resource.
Additional suspicions arise after examining the company’s official pages on Telegram and Facebook. For instance, the Facebook community named Forex Trading Online was created only on June 23, 2021, and contains minimal content – no news, no reviews.
The company does not disclose information about its leadership, preferring to remain in the shadows to avoid responsibility for potential client losses. Furthermore, no document mentions the actual name of the company with which the client enters into a contract. This means that the contract most likely does not have legal validity. However, to protect themselves, the company includes intricate terms in the User Agreement. Pay attention to the following:
- Clause 3.4.3, which grants the company the right to refuse services to a client if they disagree with the rules. According to reviews on specialized forums, this is a typical practice for financial scammers,
- Clause 3.4.5 – if a transaction appears disadvantageous to the broker, Forex GB may simply declare it invalid,
- Clause 3.4.6 – the company has the right to block access to the trading account at any time, suspecting the trader of fraud,
- Clause 9.2 – disclaimer of financial responsibility. The company does not guarantee compensation for losses to its clients.
The situation regarding registration and having a license also remains unclear. Although the company claims to be regulated, it does not provide any evidence of this.
The legal address in the Marshall Islands listed by the company is often used by financial scammers. The official website lacks scanned copies of registration documents, licenses, or numbers for verification in the registers of regulating authorities.
Since the Forex GB website is available in Russian, it was decided to examine on what basis the company provides services to Russian traders. According to Russian legislation, such as the requirements of 460-FZ, the company was supposed to:
- register as a legal entity,
- become a member of a self-regulatory organization (SRO),
- undergo document verification and obtain a license from the Central Bank of Russia.
However, Forex GB is not listed in the registry of the country’s main regulator. This indicates that in case of deception by the company, there is no possibility to rely on the protection of the Central Bank of Russia.
Trading Conditions Offered by Forex GB
Forex GB claims to provide the best trading conditions and access to various types of assets: stocks, ETFs, currency CFDs, energy carriers, metals, indices, and others.
To attract beginners, the pseudo-broker provides a demo account for practice. Considering potential quote manipulation, clients need to be vigilant.
An overview of the available account types includes:
- Basic account, requiring a deposit of 250 euros. Support, zero commissions, basic training are provided,
- Silver account, with a minimum deposit of 1000 euros and a 20% bonus, personal support, investment ideas,
- Gold account, starting with a 5000 euro deposit, a 25% bonus, training, and trading signals,
- Platinum account, requiring 20,000 euros, with a range of additional features,
- Exclusive account with a minimum deposit of 50,000 euros, a 35% bonus, and other privileges,
- VIP account with a minimum deposit of 100,000 euros and personal bonuses.
It is important to consider possible delays in fund withdrawals – allegedly up to 15 days.
Reviews and Deception in Forex GB
Since forex.gb.net is a newcomer, there are currently no official reviews. This is favorable for financial scammers who can act freely without significant constraints.
Deception Methods in Forex GB
The cunning of scammers lies in targeting potential victims on social media and active marketing. Often, the initial deposit becomes the starting point for further financial fraudsters who gradually extract new investments from the trader’s wallet. When the client is depleted, access will simply be closed, accusing them of violating agreements.
Conclusions
Dealing with the Forex GB company becomes a risky venture. The company lacks legal grounds for its operations, and its online reputation raises serious doubts. Be vigilant and do not let yourself be deceived! Share your experience in reviews – it will help others avoid financial mistakes.
