GCG Asia Review
GCG Asia claims to be the world-leading online FX and CFDs provider. The broker advertises three trading accounts, like PAMM, MAM, and ECN. However, the official website of GCG Asia does not have an account type section nor trading conditions. Moreover, the logo of this broker is an exact copy of reputed Goldland Capital Group but don’t have any connection with each other. Furthermore, the broker GCG Asia is unregulated and has many problems. In this GCG Asia review, we will talk about all of the issues of this broker. Please go ahead and read it.
About GCG Asia:
To make any review neutral, we discuss the advantages and disadvantages step by step. The broker provides trading on the versatile and world-leading trading platform MetaTrader. The provided trading platform is trusted by 80% of traders around the globe. It has excellent trading charting, automatic trading bots, Expert Advice, and several other advanced features.
Furthermore, another possible advantage of GCG Asia is it’s provided with a wide range of trading assets. The available trading assets include thirty plus forex pairs and CFDs over commodities, energy products, Agro produce, and several cryptocurrencies. The crypto coins include Bitcoin, Litecoin, Zcoin, Ripple, Ethereum, IOTA, Dash, NEM, and several more.
Here we will discuss the disadvantages of this broker. The company named Guardian Capital AG, situated in Zurich, Switzerland, owns the trademark, GCG Asia. The broker allegedly claims to be regulated by Switzerland based local financial regulator Swiss Financial Markets Authority – FinMA.
Nevertheless, the broker GCG Asia is neither regulated by FinMA nor by any EU based other financial regulator. Contrary, the Swiss Financial Markets Authority has blacklisted GCG Asia for providing illegal brokerage services in the country.
The broker fails to reveal full trading conditions on it’s the official website. These include account type, leverage, and spread provided, also the cost of trading, and much more. Such noninformative brokers always turn out to be a scam brokers. However, the broker offers a free demo account. When tested this trading account on the provided MetaTrader platform, we came across spreads of 0.1 pips on the Euro-USD fx pair without any commission. The spreads offered are too good to be true, and we are sure that the spreads on the live account will be far different than this. It is a scammers trick to attract traders providing false information.
Is GCG Asia scam or legit?
Above discussions lead us to believe that the broker GCG Asia is a potential Australian trading scam.