Scam Brokers

On its website, this broker claims that it offers spreads that are as low as 2 pips, however, when we checked their client platform it showed that the EURUSD spreads began at 3 pips.

GFX’s website shows that it is registered in St. Vincent and the Grenadines under the company name GFX International Limited, which means that you will be dealing with an offshore broker.

The broker does not give any information on its spreads, and the only thing StocksCM says about this trading condition is that their spreads are lucrative. However, when we accessed this broker’s trading platform, we found that the spreads for the EURUSD pair stood at 7.2 pips.

Torefx has provided no information about the types of trading accounts it offers. There is also no information on the trading conditions set by it.

Torefx has provided no information about the types of trading accounts it offers. There is also no information on the trading conditions set by it.

This broker offers its clients the use of the MetaTrader 4 trading software, which we think is a big plus. This is because the MT4 (as it is more popularly known) platform has a wide range of features that increase trading efficiencies – charting options, market analyses tools, automatic trading algorithms, pending orders, back-testing options and so on.

While in the Account Types section gives no information on the leverage ratios offered. But when we checked the websites legal section, the maximum leverage offered is 1:300.

555Markets seems to offer only one type of trading account. There are no trading conditions mentioned clearly anywhere on this broker’s website. We don’t know the spreads, commissions or any fees you will be charged when you contract with this broker.

The only possible advantage you may have while contracting with Swiss Global Pro is that you get to use the MetaTrader 5 software for your trades. The MT5 software is the latest edition of trading software by MetaQuotes, the same developer that has given the trading world the MetaTrader 4 software.

The only thing we know about this broker is that its brand name is CFD Global FX. We do not know if this is the name of the company that owns and operates it.