Gs4Trade review – 5 things you should know about gs4trade.com

Beware! Gs4Trade is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

This review will focus on Gs4Trade, an offshore broker claiming to offer MetaTrader4 accounts and be globally regulated. It has a  relatively good website, but it’s still below the standards for a reliable broker. However, we spotted many information discrepancies, and that certainly doesn’t look good on them. Find out the truth about this brokerage in the full Gs4Trade review.

The Gs4Trade addres.

Gs4Trade REGULATION AND SAFETY OF FUNDS

Gs4Trade claims to be globally regulated, but they reside in the Marshall Islands. That’s a problem for traders and investors because the islands don’t even have financial authority. So, it’s easy to set up an offshore IBC there and pretend to be a Forex broker or a bank, for example. The lack of any regulation whatsoever makes the Marshall Islands a magnet for scammers. 

We researched for a license elsewhere but couldn’t find any legit company associated with this brokerage. Your funds are not safe if you deposit with Gs4Trade because it’s a suspicious unlicensed, and unregulated business. We believe it’s a scam, so read on to find out why.

Avoid Gs4Trade and check out the legit EU brokers and the British brokers we vouch for. The European FX companies are strictly regulated and must meet many customer protection rules to get a license. The brokers need to provide 730 000 EUR in paid-up capital, keep clients’ accounts segregated and offer negative balance protection. There are also deposit insurance funds laid down to protect investors’ money in case of insolvency. For example, CySEC firms’ clients can claim up to 20 000 EUR in compensation, while the British protections are up to 85 000 GBP per person. If you trade with offshore brokers, you are only entitled to problems and headaches. Beware.

Gs4Trade TRADING SOFTWARE

Gs4Trade claims to offer MetaTrader4 accounts, but it’s a deception. They obviously take advantage of the MetaTrader popularity to entice people into their suspicious business. The only available platform is Sirix– a web-based trading software that doesn’t seem trustworthy. It lacks functionality and can’t offer any significant advantages. Gs4Trade can’t provide a reliable platform, which is an argument enough to stay away from this broker. Furthermore, we suspect it’s a scam because they abuse the MetaTrader name to lure people.

Weighing up platforms, see the MetaTrader4 brokers and MetaTrader5 brokers we recommend. MT is the leading retail Forex platform, which traders and investors prefer for its trustworthiness. It features advanced trading tools such as Expert Advisors, Algo trading and many complex indicators. Traders can also access a marketplace offering more than 10 000 apps available at the time.

The EUR/USD spread is seemingly good- around 0.5 pips most of the time. The lower Buy/Sell difference makes trading more affordable and improve the profit potential, but Gs4Trade is an unregulated offshore broker, so the favourable spreads shouldn’t make you open an account with them. Follow the links provided throughout the review to find a better FX company.

The maximum leverage possible is 1:200. However, on their Account page, they claim they can’t provide more than 1:50. That’s a discrepancy and a red flag we need to raise. Legit brokers do not confuse the traders about the possible leverage levels. It’s a powerful tool for improving profit potential, but at the same time, boosting traders’ risks, too. 

The leverage hazards made some financial authorities restrict the leverage levels as a customer protection measure. Thus, the European, British and Australian brokers (to come in effect later in 2021) are limited to 1:30, while the Canadian brokers and the US brokers can’t deliver more than 1:50. The Swiss brokers can offer increased leverage for risk-tolerant traders, but the 20 million francs capital requirement certainly drives scammers away.

The leverage claims.
The Gs4Trade platform.

Gs4Trade DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with Gs4Trade is 250 EUR/GBP, which is more than twice higher than the industry standards- $100 on average. The deposit methods are Credit/Debit cards and Wire Transfers. We advise you to always deposit only via bank cards because it’s possible to file a chargeback if things go wrong. On the other hand, the Wires are final and non-refundable, so consider this fact regardless of the broker.

However, if you have a preferred funding method, see our lists with legit Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers and Bitcoin brokers. The selected brokers are strictly regulated, so it’s unlikely to experience fraud.

There are no minimum withdrawal requirements, but some fees are incurring, which Gs4Trade doesn’t specify in size and scope. It’s a disturbing sign because they reserve the right to invent fees on the run, and that’s unacceptable. There is also no information about inactivity fees or other charges.

Overall, Gs4Trade is a shady offshore broker falsely claiming to be a legit company. Stay safe and avoid this suspicious business.

The minimum deposit requirements.

HOW DOES THE SCAM WORK

The Forex scam is run by seasoned manipulators who set up schemes to defraud as many people as possible. In 2021 they work on the Internet, where they publish adds about their fraudulent products and services. They use consumer reviews website such as Trustpilot or Sitejabber to post tons of positive reviews about their schemes.

At a later stage, the scammers would call the target victims to manipulate them and push them to start investing. The con artists would pretend to work for government agencies, banks or other fictitious businesses to make things look legitimate. During a phone call, people with little or no trading and investing experience might quickly believe in the falsehood and the big promises. The scammers make offers that sound too good to be true, promise guaranteed profits and give away bonuses to motivate people to put money in their scheme as soon as possible. The urgency is a treacherous sign, so if someone is pushing you over the phone to begin investing, then it’s most probably a scam.

But the first deposit is only the beginning because the scammers will continuously ask for more money from their victims, no matter what. If the trader is seemingly profitable, the con artists would ask for money to make more profits. If the trader lost some money, they would ask for more money to recover the losses. The problems begin when the trader wants to pull out their funds. Then the scammers would say that traders have to put more money if they want to withdraw. The end is always the same- defrauded investors who’ve lost their hard-earned money.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scam. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you the necessary instructions to follow and will help you, when possible, to recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

It’s crucial not to rush blindly trying to recover your funds because many scam recovery agencies and individuals are stalking, aiming to double scam the victims. They ask for an advanced payment but do nothing to help you recover your losses and simply pocket the money you’ve sent!

Share online your experience; it’s important to protect others, as well. Be responsible!

Rich Snippet Data

Reviewer

TheForexReview

Review Date

2021-02-19

Reviewed Broker

Gs4Trade

Broker Rating

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Yes it is. Based on the user review published on AngryConsumers.com, it is strongly advised to avoid Gs4Trade review – 5 things you should know about gs4trade.com in any dealing and transaction.
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Gs4Trade review – 5 things you should know about gs4trade.com is rated 1 out of 5 based on the reviews submitted by our users and is marked as POOR.
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