GCG 24 Review is GCG24 a Scam or Legit Forex Broker

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

One more step

Please complete the security check to access scambroker.com

Why do I have to complete a CAPTCHA?

Completing the CAPTCHA proves you are a human and gives you temporary access to the web property.

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store.

Cloudflare Ray ID: 57f229166b8c7b37 • Your IP : 188.64.174.65 • Performance & security by Cloudflare

GCG24 Review – is gcg24.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Silver $250 1:200 3.5 pips
Fold $1 000 N/A N/A
Platinum $10 000 N/A N/A
Diamond $50 000 N/A N/A

Forex and CFD broker Global Consulting Group (GCG24) offers its clients the account types listed above, and also provides access to a web-based trading platform, but further trading conditions remain unclear.

Apart from their account type and trading conditions, we have serious concerns about GCG24 which will be highlighted below in this review, along with a few possible benefits the broker might offer its clients.

GCG24 Advantages

Solid leverage, wide variety of assets

For all its faults, GCG24’s offer is at least generous in terms of assets available for trade and leverage ratios provided. However, we learned this after signing up a live account with them, as the broker’s website falls short on details.

Leverage of up to 1:200, as those provided by GCG24, will suffice the needs of most traders, yet keep in mind that using high leverage involves greater risk of losses.

GCG24 Disadvantages

On its website, GCG24 claims to be operated by FM Consulting – a company registered offshore, in Saint Vincent and the Grenadines (SVG). The broker has also declared an address in Moscow, Russia, as well as a contact number with the UK country code.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Yet, nowhere on their website is mentioned anything about license, nor regulation. We remind readers that brokers registered in the SVG are not subjected to any licensing regime on the part of authorities, however the UK contact number suggests that GCG24 targets UK investors. We remind readers that forex brokers in the UK have to be licensed by the local Financial Conduct Authority, which leads us to the next point.

Regulatory warning against it

What is worse, the FCA has blacklisted GCG24, warning investors that it is not licensed by it and might be involved in investment scam.

Doing business with unregulated brokers is not recommended in general, but if a reliable financial regulator like the FCA has officially blacklisted it, you’d better stay away. There are too many scams operating on the forex and cryptocurrency markets.

No trading specifics on website, nor free testing service

Another worrisome sign regarding GCG24 is the limited information about the trading environment they provide. Its website only features the initial investment amounts required for the different account types, so potential clients of the broker are unaware of the trading costs, leverage levels provided, transfer fees, etc.

Furthermore, GCG24does not provide free testing service either, so we can safely conclude that the broker is not transparent about its offer and pricing. These are clear-cut signs of trouble are the usual “tell” of a scammer.

“Scamex” platform, very high spreads

As was mentioned above, GCG24 offers its services on a web-based trading interface. Actually, this platform appears very popular among dodgy unregulated brokerages, and that’s why we have dubbed it “Scamex”. Here, you may take a look at this oversimplified trading interface, which is almost devoid of analytical tools, and would better suit binary options brokers:

That said, most traders will surely prefer the good old MetaTrader4 offers, which has advanced charting, automated trading via Expert Advisors, a lot of customization options, and more.

Conclusion

GCG24 is an offshore unregulated broker that has fallen under the radar of the UK’s FCA for illegally targeting British investors. This should be enough to prevent you from opening an account with them, but we also listed more disadvantages of this broker, just in case.

All things considered, the forex industry is full of scammers like GCG24, and the only way to trade sefaly is to find yourself a decent well-regulated broker. We like to give as examples the financial service providers licensed by the UK’s FCA or CySEC in Cyprus. These governmental agencies impose strict rules on forex brokerages under their gaze and see to their compliance, which provides significant assurance for their clients’ funds.

Here is a summary of the key facts about GCG24brokerage:

Pros Cons
Solid leverage Not regulated
Huge selection of financial instruments Regulatory warning against it
No trading specifics on website, nor free testing service
“Scamex” platform, very high spreads
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

GCG24.com Review Visit site

About GCG24.com

GCG24 is a forex broker. GCG24 offers mobile forex trading platform. GCG24.com offers a number of forex pairs and cfds,for your personal investment and trading options.

  • Live Discussion
  • Video
  • 13 Widgets
  • More .

Live discussion

Join live discussion of GCG24.com on our forum

Video

Your company video here? Contact ad sales

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Do not trage with GCG24

big scam company

Eventual after posting my initially review i was then contacted by my account manager and he clearly explained where the hick- up was coming from. I honestly salute him for not being emotional but clearly explaining the issues to me.

His approach then proved to me that they are not scammers but maybe just need process changes. Thank you for your clarity and now i am happy.

Nov 5, 2020 – 1 Star How i wish i had seen all this reviews before i started investing on this broker. I have been using this broker for few months now and all i get from then is when am i going to invest more money. i asked for a withdrawal of $400 and now is a week nothing from them. when i try to get them on online chart is either i don’t any feedback or i am told my account manager is on leave he will only contact me once he is back. What kind of service is this. So if my account manager is not coming back it means i will never get any assistance. i also start to believe this are scammers.

Warning GCG24 is a straight out scammer. They are not regulated
Here are my experiences:
Hi, for weeks I’ve been trying to get my balance off 1200 €. But Nick always blocks and says trades are still in progress. I can’t accept that. I didn’t order any trades. I want my money back now. I have sent Nick the following mail:
Hello Nick, I was 2 weeks in the hospital, had a heart attack. I blame you because I was always so excited because you did not transfer my money.
I have enough now. transfer within 3 days EUR 1200.00 to my credit card. If not, I will go to the social medias and warn everyone about your company and you personally.
It’s ridiculous that your company can’t pay me my money. That means you go bankrupt soon or disappear.

I was introduced to them by tooltrades.com who serves as their intermediate. Very bad recommendation. These people just want the commissions
All my documentation was up to date. No answer to emails.. I Can’t reach anyone and have received no money. Something must be done to stop this company taking others money.
I have just been asking for money back. Which they will not release.

This is an update on the gcg24.com review.
About a month after the review here, they decided to return my money. So as of 21st Dec 2020, they do not owe me anything.

That said, I still do not trust them or their practices. They have caused me so much frustration and headache that I would never invest with them if they were the last brokers. The platform and modus operandi of this broker seems same as Daxmarkets.com which did scam me out of my money.

Nov 21, 2020 – 1 Star gcg24.com is a forex and binary options provider who is a straight out scam.
They will say anything to get you money. They are not regulated. Their platform is rigged. So that they can show you profit or loss anytime they like. They will even trade with your money and show you a loss if you ask to withdraw money.
Since they will not be in your country of residence, most likely, you really cannot do anything to recover your deposits.
I was introduced to them by tooltrades.com who serves as their intermediate. They required min $250 to open account and guess what.. I traded only once for $2. Since then I have just been asking for money back. Which they will not release. They keep asking for documents but they wont release the money or acknowledge the document submitted. I hope this review will help someone. I have lost $250. I can bear that loss.

Hope you’re doing well!
Thank you for your review. Let me clarify some points for you.
We sent you the money as soon as we got all the necessary documents from you. The reason why it took that much time to verify is that the documents you sent before did not comply with our requirements.
You say that we manipulate on our platform. This is utterly absurd, because no self-respecting company would ever do that. As an experienced trader you probably know that market is very dynamic and it does not make sense.

In case you have further questions, we will gladly answer them.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Like this post? Please share to your friends:
Binary Options Trading Education
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: