A few of our readers asked us to review GFE markets. We’ve just spent the last two weeks analysing them. Read on to see what our thoughts are on GFE markets and to see if we recommend this broker for trading forex, cryptocurrencies, and other markets.
GFE markets is fairly new in terms of the forex brokerage world as the brokerage was launched around three months ago. Whenever we inspect a brokerage, we cover every aspect, from the registration and deposit section to the trading element and finally, the withdrawal process. If you’ve been trading, you know that quite a few brokerages aren’t great when it comes to withdrawals.
From the get-go, we quickly realised that the team behind GFE markets are doing everything they can to ensure their company behaves properly and not like a lot of the brokerages we’ve analysed over the last year. GFEmarkets.com is a nice website that’s easy to use, and it’s good that they’ve taken the time to build up some really hands-on support, which makes them great in the customer care department.
GFE markets aren’t regulated, and we need to tell you this. The good news is that they tell you this right off the bat, which is so incredibly rare for any non-regulated brokerage. GFE markets have made it a point to clarify how they’re working on becoming regulated. Even so, what’s more interesting is that this broker is currently following all the rules and regulations stipulated by tier one regulators. Therefore, even without the necessary regulatory licence, they’re acting like a tier one regulated forex brokerage. As we said, this is incredibly interesting and very important to anyone who wants to trade with the peace of mind that they’re trading with a brokerage that’s there to assist and not hurt them.
GFE markets talk about how important transparency is to them. Words are wind in this industry, so we decided to put them to the test. So, we contacted them directly. Although all the information about them is right there on the website, we still asked them a few things, but never told them we were from the Scam Monitors Team. We asked them how our funds we deposit with them are stored, where they’re stored, and what the procedures are when it comes to us wanting our funds back (in the form of withdrawals). They answered all our questions and even shared some of their internal policies with us, which was very interesting. We’ve never seen that sort of devotion from any brokerage we’ve investigated.
They were quick to also point out their reviews on TrustPilot, which we took a look at.
If you’ve ever traded before, you know just how important it is when it comes to withdrawing your funds. Many brokers, even the regulated ones are notoriously bad at giving you your money back, be it in the forms of your winnings or your invested capital.
We made a deposit of $250 and then immediately put GFE markets to test by issuing a withdrawal request. To our surprise, they immediately issued our withdrawal. We did have to ensure our account was verified to begin with. This is a must and they do tell you this before you request a withdrawal. To issue your own withdrawal request, you simply login to the GFE markets client area and go to the withdrawal section. From there you ask your GFE markets agent to withdraw either all of your balance or a portion of it.
The procedure is simple, and the way you’re treated by your GFE markets agent is very pleasant. Withdrawing our funds was very smooth, and so we did it again. Again, we made an investment and again we requested a withdrawal, this time, using a wire transfer method. More on that in the next section. Keep on reading to see what happened!
Making a wire transfer into our GFE markets account was very easy. The good news is that all traders’ funds are stored in a segregated bank account, which means that if GFE markets were to go under (bankrupt), you could claim back your investment from them. We never faced any obstacles when it came to transferring our funds to GFE markets, nor did we face any issues in retrieving them, which was a relief.
To be honest, we actually enjoyed reviewing GFE markets, which isn’t something we get to say every day. GFE markets were brave enough to be fully transparent. Full disclosure: after we finalised all the checks and measures that we carry out whenever we investigate a brokerage, we did tell GFE markets that we were investigating them. They asked us how they had done, and we told them to look out for our review.
If you’re in any doubt about any forex brokerage, always read our reviews. If we haven’t reviewed the brokerage you’re interested in trading with, let us know and we’ll add them to the investigatory list. When it comes to GFE markets specifically, we want you to know that your funds are safe. The GFE markets team did everything to ensure we were happy, which is a far cry from other brokers we’ve investigated. We can also tell you that your experience will be very smooth, your trading will be smoother (if you know what you’re doing), and GFE markets customer care agents are so helpful!