Company Profile
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 |
| 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.
FAQs
Is GDFX safe?
No, the claimed FSPR license is revoked and ASIC license is a suspicious clone.
Is GDFX a good for beginners?
No. The minimum deposit is up to $500, which is not friendly for beginners.
What kind of trading platform does GDFX offer?
MT4 and MT5.
