Investor hasn' t received money since last year

A New Year Began. Investors' withdrawal application had been delayed since last year. Investors should be alert of it.

WikiFX received investor' s complaints against GSG recently as they kept on delaying withdrawal application and left unapproved till now. Customer service just told investor to wait patiently without any solutions.

Investor lodged a real-name complaint against GSG

Photo of the investor' s ID card

Mr. Wei reported GSG by presenting his ID card.

Mr. Wei' s shared his terrible experience with WikiFX

Mr. Wei's said, he deposited money to GSG by recommendation of GSG agents on June last year and made some loss in trade. He tried to submit withdrawal application on December but the status is still under approval till now.

He contacted the customer service and they replied that the application has been processed and told him to wait patiently. He cannot get back his money till now.

WikiFX' s investigations

1. Mr. Wei deposited money to GSG several times

Mr. Wei' s deposit records

Mr. Wei has deposited money to GSG several times since June 2018.

2. Mr. Wei submitted withdrawal application

Screenshot of Mr. Wei' s withdrawal record

Mr. Wei has kept on submitting withdrawal applications many times since 18th December 2018, but all failed.

3. Mr. Wei contacted the customer service afterwards

Screenshot of the conversation between Mr. Wei and platform customer service

Mr. Wei' s withdrawal applications were under approval for a long time, so he contacted the customer service and they repeated with “wait patiently”. GSG haven' t given any reasons, solutions and timeframe on this as well.

4. Mr. Wei emailed the platform

Screenshot of Mr. Wei' s email to the platform

Mr. Wei emailed the platform many times but no reply.

5. Mr. Wei still cannot withdraw money from his account

Screenshot of Mr. Wei' s account balance

To date, Mr. Wei cannot withdraw money from his account.

WikiFX verification of GSG

Regulatory information of GSG

Screenshot of GSG' s regulatory information from WikiFX App

Per investigation, GSG holds FSPR(New Zealand)' s license for providing financial service only. Without the authority of Forex brokerage business, GSG operates in overrun business in China and has considerable risk.

MT4/5 identification

Screenshot of MT4/5 identification from WikiFX App

After identification, GSG uses white-label MT4 trading software with server set up in US. The white-label broker' s cost investment is relatively low and has high potential risk.

Network diagram

Screenshot of GSG' s network diagram from WikiFX App

Per our investigation, GSG has relations with 9 Forex brokers in white label, which are BDG, ICBFX, bosslane, NCY, HYITFD, CITY FOREX, Modern Capital, CDL and TAKER FX respectively.

Warning from WikiFX

Screenshot of GSG interface from WikiFX App

Per verification, GSG operates an overrun business as its FSPR(New Zealand) license is available for providing financial service only. The platform rating is only 2.91 and has high risk.

Meanwhile, it is illegal to delay investor' s withdrawal application for long time with providing any solutions. Investors are strongly suggested to stay away from it to avoid further loss recurred.

Conclusion

GSG has kept on delaying investor' s withdrawal application since last year. With low rating in WikiFX, it has high potential risk. WikiFX reminds investors to stay away from suspected brokers and protect your rights and interest as early as possible.