Choosing a Reliable Intermediary: Difficulties and Dangers
Selecting a trustworthy broker is a real challenge even for experienced investors, not to mention newcomers. Many fall victim to financial scammers, including GrandForex. The company deceives its clients with promises, obscuring the truth. Reviews from former clients reveal the true nature of this pseudo-broker and warn against it.
Main Information about the Intermediary
GrandForex presents itself as a well-known provider of high-liquidity CFDs, having established itself long ago. According to their data, the company has been in existence since 2019 and intends to offer you reviews from its clients as evidence of its honesty and reliability.
At first glance, all the reviews on the company’s platform are positive, but investors who noticed the catch on external sources leave much less favorable reviews. After closer scrutiny, it becomes clear why this occurs. The granddayfx.com website has only been active since June 2023.
In conclusion, GrandForex’s claims about its awards and superior reputation are deceitful. The company only seeks to attract your investments without offering real profits.
Licensing Situation
The broker GrandForex claims to have applied for licensing in two jurisdictions in 2023. However, they provide no details about their licensing status, leaving it up to the clients’ discretion.
Officially, GrandForex LLC, according to their information, is registered in Antigua and Barbuda, but the registration address is suspicious and inaccurate, as it is used by other similar brokers. Additionally, the company does not provide documents confirming its registration, casting doubt on its operations.
GrandForex’s Earning Opportunities
GrandForex promises access to trading more than 200 instruments, including currency pairs and CFDs on cryptocurrencies, commodities, and indices. However, their demo account serves as bait only for beginners, whom they try to convince to open a real account.
- Minimum deposit – $10,
- Ability to use WebTrader for trading,
- Leverage up to 1:500,
- No commissions,
- Minimum spread – 0.01 points.
Investors note that GrandForex hides the withdrawal rules and commission policy, changing them at their discretion for their benefit.
Reviews of GrandForex
GrandForex actively supplements its platform with positive reviews, targeting trusting users. However, there is already a positive change: investors are starting to blacklist this company.
While there are negative reviews, they are not yet widespread. If you have experience with GrandForex, do not remain silent, share your information with others to prevent financial losses.
GrandForex’s Deception Scheme
GrandForex cleverly arranges its platform with a demo account to attract newcomers without risk to them. They persuade users of the short-term benefits of increasing investments and using high leverage. The scammers’ goal is to lure you into a debt trap with no way out.
If you have dealt with GrandForex, the best solution would be to turn to a professional chargeback service for fund recovery.
Concluding the Full Review
GrandForex aims to attract newcomers to the world of financial investments through false promises and flattering reviews. They understand that their fraudulent activities will not last long, so they try to profit from you quickly using your funds. Stay vigilant and don’t fall for deceit!
