GX

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 contained in this article is for general information purposes only.

General Information & Regulation

GX, a trading name of GS Brokers Capital Inc., is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads via two different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that GX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.08/10. Please be aware of the risk.

Market Instruments

GX advertises that it offers access to 2,100+ tradable assets to trade, including Forex, CFDs, stocks and commodities.

Account Types

GX claims to offer two types of trading accounts, namely Classic and Platinum, with minimum initial deposit requirements of $200 and $500 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by GX is capped at 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50.

Spreads & Commissions

GX claims that the spread and commission vary depending on the trading asset. For example, the spread is as low as 0.2 pips on forex, and from 0.4 pips on the CFDs. The commission is from $3 on US stocks and $1.25 per lot on commodities.

Deposit & Withdrawal

The minimum initial deposit requirement at GX is said to be $100. While opening an account requires at least $200. However, the broker says nothing about the deposit and withdrawal methods.

Customer Support

GX‘s customer support can be reached by email: tradetoolspro@company.com. Company address: 38 Ropery Rd Gateshead NE8 2HP United Kingdom. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.

Pros & Cons

Frequently Asked Questions (FAQs)