Home » Broker Reviews » GFX Group SA

GFX Group SA

Company
Name of the Broker GFX Group SA-
Broker
Accounts
Demo account link
Live account link
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 no-
Fractional pips yes-
Automated trading yes-
Offer options no-
News and Charts
Free charts yes-
Free charts with broker feed yes-
Premium charts w/feed no-
Trading off charts no-
News yes-
Economic calendar no-
Applications and Usability
Integrated charts yes-
Integrated news no-
Margin watcher yes-
Trailing stops yes-
Web based application no-
Downloadable application yes-
MT4 available no-
Training video available no-
Usability of software (1=poor, 5=very good) no-
Courses and Webinars
Free training signals yes-
Webinars no-
Beginner course no-
Intermediate course no-
Advanced course no-
Help and Support
Phone Support 41 22 799 41 00-
Live Chat Live Chat-
Email support Email Support-
Other Details
CFTC/NFA member no-
FSA (London) no-
Other (by whom) SFDF-
Segregated account available no-
Segregated account standard no-
Client funds held separate from operating funds yes-
Balance sheet available no-
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.

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