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The WikiFX Score of this broker is reduced because of too many complaints!

GWFX

United Kingdom|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|Vanuatu Retail Forex License Revoked|High potential risk|

http://www.gwfxglobal.com/en/

Website

Rating Index

Contact

00448002494315
cs@gwfx.com
http://www.gwfxglobal.com/en/
New Broad Street House 35 New Broad Street London EC2M 1NH UNITED KINGDOM
The WikiFX Score of this broker is reduced because of too many complaints!
VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Open
Warning: Low score, please stay away!
2024-12-31
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
6

Basic information

Registered region
United Kingdom
Operating period
5-10 years
Company Name
Goldenway Global Investments (UK) Limited
Abbreviation
GWFX
Company employee
--
Company address
New Broad Street House 35 New Broad Street London EC2M 1NH UNITED KINGDOM
QQ
800018886

FX3099913092

Hong Kong

From 2014 to 2019, I have been trading on the GWFX Investment Platform. The teacher often called out orders in the opposite direction, and the investors eventually ended up with liquidation. This is a scam platform. I lost RMB 450,000 in principal. In 2019 the teacher called out USDX to the downward trend of 100, and I deposit RMB 150,000 until my account was in liquidation.

Exposure

2021-02-09

FX3924117349

Hong Kong

My account in this platform is 86082421. The platform teacher gave adverse order recommendation, which led me to lose 200 thousand RMB!

Exposure

2020-03-07

大周1958

Hong Kong

The platform stopped its business, in which the withdrawal is still unavailable. My account is also limited to log.

Exposure

2020-01-05

L&S

Hong Kong

I was scammed 1 million. It is a rip-off.

Exposure

2020-01-01

年年有余71990

Hong Kong

They induced me to deposit. The money I deposited could reach my account two times before. However, at the third time, I failed. I transferred the money, but it didn’t reach my account. The customer service said it was my own problem and I can’t refund.

Exposure

2019-10-01

龚飞

Hong Kong

The spread in GWFX fraud platform is high.It also only gives access to deposit instead of withdrawal.Don’t make any investments in this fraud platform.

Exposure

2019-08-30

薇+二叭唔叭霖思一6二叭

Hong Kong

Writing down this article means that I have experienced the obsession of beginning and the bitter hatred now.All these are like a nightmare and I was awake. I still want to record my terrible experience,which as a alarm bell ringing to me and you. I still remembered it clearly,a gorgeous accosted me in momo on 30th,April,2018.After exchanging Wechat number,she told me she works in investment field.When it came to investment,I was vigilant.But she showed me many certification materials to prove that her company was regular.Then she helped me open the account and taught me downloading the MT4 with efforts.I was once gave up halfway,but her insistence made the things slide.I want to warn you that you will got trapped deeper and deeper if you haven’t refuse at first.I also analyze the reason.An appealing proposal is the girl’s warm-hearted offer,the other was because of her lovely look.I’m not proud of it.But different person always have different ways to address.I may suffer a setback on this girl,others may bite other baits,One should learn to refuse at first. After opening the account successfully,I received the account-opening email form the company.And the website looks like regular...

Exposure

2019-08-29

llllll

Hong Kong

1, I cannot withdraw 2, I was banned from trading 3, I lost contact with the service 4, You can open USD account or RMB account as well. But they swindled me into opening an RMB account. 5, At first they said they were ASIC regulated, later became St.Vincent 6, They change their regulatory information without clients’ knowledge. I could just say they have no valid regulatory license. 7, They have all the traits of a scam platform. 8, As long as they belong to Goldenway Hong Kong, they must be on the same boat. They changed their brand name to protect themselves and evade their responsibilities. They told me before how Goldenway good is and tricked me into depositing.

Exposure

2019-08-15

心有阳光/地坪整体系统~贺立耀

Hong Kong

GWFX fraud platform gives no access to withdrawal!! As long as I want make a complaint,it will blacklist me immediately without saying a word!

Exposure

2019-06-12

FX4909636828

Hong Kong

At about 12:30 on May 7, a pending AUD/JPY short was at the lowest price of 77.264 and delivered at 77.24, with a slippage of 30 more pips. Though the order was made, but the price didn’t exit.

Exposure

2019-05-08

陪你慢慢走

Hong Kong

The platform canceled my stop-loss order at weekend. They asked me to add positions in case of a forced liquidation or closed orders out at Friday in advance

Exposure

2019-04-25

箭在弦上

Hong Kong

JinDao Group damages national security and damages the security of citizens of the country's mainland. Its operation itself is aimed at this. They marked these things on their official website in places that are small and difficult to spot: (1) JinDao International Limited (formerly known as JinDao Group) and the clients of this website do not include the public and Hong Kong residents of the Hong Kong Special Administrative Region. Nor do they open accounts for US citizens. (2) You are not a Hong Kong resident and you are not in the territory of the Hong Kong Special Administrative Region when you visit this website and open an account opening procedure. A company that claims to be a Hong Kong company does not allow people in Hong Kong to open an account. It does not accept Hong Kong people and Americans to open an account. They obviously have the purpose of evading US and Hong Kong legal sanctions, and fraudulently said that their registration is Saint Vincent. We think that Saint Vincent is a place name or an office building in Hong Kong, and they clearly indicate their address on the official website as follows: Address: 28/F, Haiwei Dae, Harbour, Queensway, Kowloon, Hong Kong. Name of Regulatory Authority: Hong Kong Securities and Futures Commission. Who would understand that this is a company whose registration is not in Hong Kong? In fact, they are not regulated by the Hong Kong Securities and Futures Commission. They operate illegally in Hong Kong. They only do not include Hong Kong people and Americans. This circumvents the sanctions of Hong Kong and the United States. They deliberately registered in a place where does not acknowledging that there is only one China in the world and established a diplomatic relation with Taiwan. Its acts of endangering national security, endangering national unity, and defying mainland public security are arrogant. They are brave enough to exploit the laws of mainland China, and use Hong Kong as their office, but register their registration in Saint Vincent. I just started thinking that Saint Vincent is somewhere in Hong Kong. I recently learned that Saint Vincent is a small island country with a population of tens of thousands. He does not recognize that there is only one China in the world and has established diplomatic relations with Taiwan. They work in Hong Kong, swindle the mainland citizens as Hong Kong companies, and illegally absorb huge sums of money. They use their own websites and virtual trading software to let customers trade gold, crude oil, foreign exchange, etc., but the client funds have not really entered the market. Through the traps they created: such giving order instructions in live room, high bonuses, data errors and other means, they collected a large sum of money. JinDao Precious Metals Official Website - https://m.24k.hk JinDao Precious Metals Customer Center, deposit website: https://gts2admin.24k.hk/ JinDao Global Investment Website - www.gwfx.com/ JinDao Global Investment Customer Center deposit website https://gts2admin.gwgfx.co/ QQ customer service: Jindao precious metal 80018282, Jindao Global 80018886, WeChat public account: Jindao precious metal goldenway24k, Jindao Global txjs1206; Customer service WeChat: gihk001, gihk005, Xiaozhuo gwrm02 (Xiao Zhuo often call us to recommend trading bonus activities) Email address: Jindao Precious Metals cs@24k.hk Criminal Judgment (2015) No. 00045 Criminal Judgment of the People's Court of Weidao District, Jinmen City, Hubei Province On the premise of judging the illegal operation of Jindao Precious Metal Co., Ltd. and investigating the criminal responsibility of the parties, Jindao Precious Metals Co., Ltd. continues to develop customers and conduct business in the mainland. Its behavior despised the mainland law, despise the mainland public security, and deceive a large wave of people. I am Dong Jun of Qinghai Province, China, and I ask the public security department to open a case investigation. All of the above are based on evidence, I am willing to bear all legal responsibilities.

Exposure

2019-02-21

FX7559682738

Hong Kong

After a stranger added me via WeChat, I was recommended by him to open an account, deposit money, and trade on Jindao Global Investment Platform (April 19, 2016, account number: 92032151), during which I have been following the live broadcast (https: //chat.gwfx.hk/)instructor's operating strategy and real-time recommendations, ordering operations for various foreign exchange currency pairs. However, I always have a lot of losses。 The accumulated losses so far is: $71233.39. At the beginning of December 18, I followed the teacher to buy short the USD/CAD (rising point 1.3195 short). After losing, I asked him what I should do. He told me I should keep investing. Then my loss reached more than $20000 and my account was liquidated. A lot of people in that group lost. We asked the teacher, he said we should wait patiently for a turn. In combination with various signs of non-compliance such as platform deposits went to third-party private accounts, I thoroughly recognized the true face of Jindao’s fraud. On December 17, 18, I filed a claim with Jin Dao by mail, but my account was banned then, and they had been delaying me all the time. On December 26, they replied that they would negotiate with me within 3 to 7 days. Later, on January 3, they replied to me that they would negotiated with me within 48 hours, but I have not received a call yet, and there is no new email reply. I have deposits and withdrawals records, transaction history details, and chats with some teachers. Please help me expose this, thanks!

Exposure

2019-02-20

没有呢陈

Hong Kong

They showed us fake candlestick and fake average price before. Now they are showing us fake price.

Exposure

2019-02-19

没有呢陈

Hong Kong

In the last two weeks, I lost a lot of money. Many people did not know how to operate it correctly. As a result, I found the place where the gold road was full of people.Go to customer service customer service does not know is what reason to want my account

Exposure

2019-01-25

FX2199906691

Hong Kong

Unable to deposit money in, except bitcoin. Now GWFX's service gets worse. When I turn to the customer service for solving the problem, they just let me wait! It has been a quarter!

Exposure

2019-01-25

Halo

Hong Kong

GWFX manipulated my account and froze it when I earned. I can’t do any operation. Every time when it comes to a big event, their system would crash. Their customer service called me dozens times every day to distract me. This is a trash scam platform.

Exposure

2018-12-15

FX9409912662

Hong Kong

Why is the k line different? Is there any trap? Is there still a few ways of price movements of US dollar index ?

Exposure

2018-11-24

FX2909853194

Hong Kong

My trading account number is 86017492. I traded on the platform from 2016 to 2018. However, their agent gave me reverse order advice, which caused me to lose more than 2 million. When I contacted their customer service personnel. They said I violated the trading rules? They did not deal with the problem and sealed my account. They are simply swindling the hard-earned money of the people.

Exposure

2018-11-21

FX7019659237

Hong Kong

GWFXis only under Vanuatu’s regulation

Exposure

2019-05-28

31
Account Information
Website
Company Summary
Review

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Official website

Website

Most visited countries/areas

  • Hong Kong
  • gwfxstv.com

    Server Location

    Singapore

    Website Domain Name

    gwfxstv.com

    Website

    WHOIS.NAME.COM

    Company

    NAME.COM, INC.

    Domain Effective Date

    2017-11-15

    Server IP

    18.136.2.238

  • gwfxecn.com

  • gwfxglobal.com

Company Summary

Note: GWFX's official site - http://www.gwfxglobal.com/en/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

GWFX Review Summary
Company Name Goldenway Global Investments (UK) Limited
Registered Country/Region United Kingdom
Regulation FCA (Suspicious Clone), VFSC (Revoked)
Market Instruments N/A
Demo Account N/A
Leverage 1:500
Spread A Variable Spread of 1.8 pips on EUR/USD
Commission N/A
Trading Platform MT4
Minimum Deposit $200
Customer Support Tel: 00448002494315, Email: cs@gwfx.com, QQ: 800018886

What Is GWFX?

Goldenway Global Investments (UK) Limited, operating as GWFX, is purportedly based in the United Kingdom. Its FCA license is suspected to be a clone, and its license from the Vanuatu Financial Services Commission (VFSC) has been revoked, and its website is no longer functional.

GWFX

Pros & Cons

When evaluating GWFX, there are some significant pros and cons to consider.

On the positive side, GWFX does support MT4, a popular and versatile trading platform widely accepted by many traders. This feature certainly broadens their appeal to a larger market. Additionally, GWFX offers high leverage up to 1:500, which can offer great potential profits for experienced and risk-taking traders.

Pros Cons
  • MT4 Supported
  • Suspicious Clone and Revoked Regulatory Licenses
  • High Leverage
  • Dead Website

However, there are notable negatives to consider as well. First and foremost, their FCA regulatory license appears to be a suspicious clone and VFSC license has been revoked, which raises concerns about the platform's credibility and safety. Moreover, their website seems to be inactive, making it extremely challenging for new users to get started or for existing users to continue their trading experience.

Ultimately, prospective users must weigh these pros and cons carefully when choosing whether to engage with GWFX.

Is GWFX Safe or Scam?

  • Regulatory Sight:

GWFX, operated by Goldenway Global Investments (UK) Limited, claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom. However, its current regulatory status is listed as a “Suspicious Clone”. The license type is noted as “Straight Through Processing (STP)” with license number 185223.

suspicious clone FCA license

Additionally, GWFX holds a retail forex license regulated by the Vanuatu Financial Services Commission (VFSC), but its regulatory status is marked as “Revoked,” and the license number is 14864.

revoked VFSC license
  • Issues Reported:

Users experiencing adverse order recommendations from the platform's teacher, leading to significant losses in their trading accounts.

Complaints about the inability to withdraw funds from the platform, with users encountering difficulties in accessing their money.

Allegations of fraudulent behavior, including inducing deposits,providing false investment instructions, and manipulating accounts to freeze them when profits are earned.

Concerns about the platform's legitimacy and regulatory status, with users questioning the validity of its operations and regulatory claims.

Reports of severe slippage in trade executions, with users observing significant price differences between their intended trade prices and the executed prices.

Complaints about the platform's customer service, including unresponsiveness and unhelpfulness in resolving issues related to deposits, withdrawals, and account management.

User Exposure on WikiFX
  • Security Measures: So far we haven't found any information about the security measures for this broker.

Account Types

Standard Account:

Minimum Initial Deposit: $200

Designed for retail traders and individual investors.

Provides standard trading conditions and features suitable for traders with smaller capital.

VIP Account:

Minimum Initial Deposit: $50,000

Targeted towards institutional clients and high-net-worth individuals.

Offers enhanced trading conditions, personalized services, and premium features tailored to meet the needs of sophisticated investors with larger capital.

Leverage

GWFX offers a maximum leverage of 1:500 to its traders. This high leverage enables traders to amplify their trading positions significantly with a relatively small amount of capital, potentially increasing both profits and losses. It provides traders with the flexibility to control larger positions in the market compared to their initial investment. However, it also increases the risk of significant losses if trades move against the trader's expectations.

Spread

GWFX offers trading in 18 currency pairs, with a typical variable spread of 1.8 pips on EUR/USD. This spread is considered comparatively high for the forex market. A spread of 1.8 pips means that traders buying EUR/USD would incur an additional cost of 1.8 pips above the market price when entering a trade, and those selling EUR/USD would receive 1.8 pips less than the market price. Higher spreads can potentially impact trading profitability, as traders need to overcome this cost before realizing profits on their trades.

Trading Platform

GWFX supports the MetaTrader 4 (MT4) trading platform. MT4 is a widely used and popular trading platform known for its user-friendly interface, advanced charting tools, customizable indicators, and automated trading capabilities through Expert Advisors (EAs). With MT4, traders can access a wide range of financial instruments, execute trades with ease, analyze market trends, and implement various trading strategies.

MT4

Customer Support

GWFX offers customer support through multiple channels to assist traders with their queries and concerns. They provide a telephone helpline with the number 00448002494315, allowing traders to directly contact support representatives for assistance. Additionally, traders can reach out to GWFX via email at cs@gwfx.com for more detailed inquiries or assistance. Moreover, they offer support through QQ with the ID 800018886, providing an alternative communication method for traders who prefer instant messaging platforms.

Conclusion

GWFX is a broker with suspicious cloned and revoked regulatory licenses, with a dead official website. Though the leverage provided is high and it does support MT4, we do not recommend users to trade with this broker.

Frequently Asked Questions (FAQs)

Q: Is GWFX regulated or not?

A: Yes, it is regulated, however, with suspicious cloned and revoked licenses.

Q: What is the minimum deposit it requires?

A: The minimum deposit it requires is $200.

Q: What is the maximum leverage it can provide?

A: The maximum leverage it can provide is 1:500.

Q: Does it support MT4/5?

A: Yes, it does support MT4.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Keywords

  • 5-10 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • Vanuatu Retail Forex License Revoked
  • High potential risk
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