Home » Broker Reviews » GFX Group SA
GFX Group SA
| Company | ||
|---|---|---|
| Name of the Broker |  GFX Group SA | - |
| Broker | ||
| Accounts | ||
| Demo account link | Demo Account | - |
| Live account link | Live Account | - |
| Ratings | ||
| Overall Rating | 5 | - |
| Safety of funds | 3 | - |
| Software ease of use | 7 | - |
| Tools and resources | 4 | - |
| Set-up process | 5 | - |
| Customer support | 3 | - |
| Timeliness of application | 5 | - |
| Funding options | 4 | - |
| General | ||
| Dealing desk/NDD | NDD | - |
| Minimum account size | 2000 | - |
| Max leverage | 200:01 | - |
| Application processing time | 1 week | - |
| Fixed spreads |  | - |
| Fractional pips |  | - |
| Automated trading | | - |
| Offer options | | - |
| News and Charts | ||
| Free charts | | - |
| Free charts with broker feed | | - |
| Premium charts w/feed | | - |
| Trading off charts | | - |
| News | | - |
| Economic calendar | | - |
| Applications and Usability | ||
| Integrated charts | | - |
| Integrated news | | - |
| Margin watcher | | - |
| Trailing stops | | - |
| Web based application | | - |
| Downloadable application | | - |
| MT4 available | | - |
| Training video available | | - |
| Usability of software (1=poor, 5=very good) | | - |
| Courses and Webinars | ||
| Free training signals | | - |
| Webinars | | - |
| Beginner course | | - |
| Intermediate course | | - |
| Advanced course | | - |
| Help and Support | ||
| Phone Support | 41 22 799 41 00 | - |
| Live Chat | Live Chat | - |
| Email support | Email Support | - |
| Other Details | ||
| CFTC/NFA member | | - |
| FSA (London) | | - |
| Other (by whom) | SFDF | - |
| Segregated account available | | - |
| Segregated account standard | | - |
| Client funds held separate from operating funds | | - |
| Balance sheet available | | - |
| NFA member page | - | |
GFX Group SA Basic Information
GFX, also known as Forex.ch, is a Geneva Switzerland based forex firm with plans on becoming a Swiss bank in 2009. They currently do not accept US clients. They are working to get registered in the United States, but do not have a time line for this. They also provide trading signals through forexsignals.net free to their clients. In addition to forex, GFX Group SA also allows their clients to trade metals. They do allow for hedging and have a minimum account size of $2000. The maximum leverage offered is 200:1. As traders position size increases, so does the margin needed to open the trade. From 11-50 lots, the maximum leverage available is 100:1. For above 50 lots the leverage available is 50:1.
Review of Forex.ch (GFX)
As a Swiss based firm, they do not provide any additional safety of funds beyond protecting against money laundering. Although they are looking to get banking status in 2009, it is currently not the case. They also tout having 10,000,000 in paid up capital but when comparing that to net excess capital of some NFA registered firms, that seems minimal. The charts provided are basic with no additional features like trading off of charts. They provide minimal forex education and resources. Their client support is extremely lacking as well. There have also been report about poor trading execution with this broker.
Tools
Forex.ch provides java based charts on their website as well as charts in their trading software. They also have news links on their site from Scotia bank as well as Thomson Financial.
Spreads
Forex spreads at GFX Forex depend on if the trader is trading a standard account or a privelaged account. Privileged account holders, clients who trade at least 500 lots in a given month, are given a ½ pip discount on most currency pairs.
Education
Forex.ch offers no formal training program or packages. They do provide a basic introduction to the forex market on their website.
Regulation
GFX, like other Swiss based forex firms, are regulated against money laundering. GFX is superived as what is referred to as a Financial Intermediary and has their financials audited by KPMG and is indirectly supervised by the Federal Department of Finance in Switzerland as an affiliate of PolyReg.
