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Resolved
GFS's spreads and handling fees are unbelievable
Object
GFS GFS
Issue

Scam

Requirement

compensation

Amount

$74,400(USD)

Time

120day1hour

Mediation Progress
Solved after user's confirmation
HANXIAOJIE

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GFS
The staff have reasonably explained and handled the situation for the customer.

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HANXIAOJIE
Agents of GFS induce and defraud investors by holding training classes through competitions and other methods. They call for orders multiple times in the group to get us to buy and sell heavy positions. For example, with a principal of 10,000 US dollars, we are asked to buy ten lots at a time. The purpose is to charge a high handling fee when we liquidate the position. A handling fee of fifty US dollars per lot, a spread of 0.07 basis points (basis point = 1.2600/1.26070), a total of 12 basis points, and even a high exchange rate, such as the exchange rate of 7.21 for today's withdrawal, but the 7.07 settlement instead. Most investors suffered heavy losses. I lost a total of more than 60,000 US dollars in spreads and handling fees. I reported the matter to the GFS headquarters and hoped that it would be dealt with, but he replied to me that they complied with the regulatory requirements of the Australian Securities Regulatory Commission. The handling fee of 50 US dollars and the slippage of 0.07 are both legal. They cover up their agents and work with the agents to harm the interests of investors. They also disregard the company's reputation and disrupt the entire foreign exchange trading market. Currently, many friends in the group have suffered heavy losses and are still being deceived. They are exposing this company, claiming it is not a formal company at all. It is a company that purely deceives investors in the foreign exchange market and does not adhere to integrity and moral bottom lines. Investors around the world must see clearly the true face of this company and keep from being deceived by this company and its agents. Because every investor who opens an account with this company will eventually be liquidated or suffer serious losses, all due to handling fees.

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