August 12, 2020

GreatFXPro Review

Overview:

The broker GreatFXPro is operational from the Marshall Islands with three trading accounts. Only the minimum deposit required for each account is different, and other trading conditions like maximum leverages and spreads offered are the same on all the three trading accounts. The broker has many problems, and these problems are far more than the benefits of GreatFXPro. In this GreatFXPro review, we will cover all of them. So experience this unbiased and trustworthy review. Read the full review here.

About GreatFXPro:

The three accounts available with this broker are Mini, Classic, and Premium, with a minimum deposit required of $500, $5000, and $20000, respectively. The maximum leverages of 1:200 and spreads of 3 pips are provided on all of the three accounts. We try to make all our reviews unbiased and trustworthy in the same process we discuss all the available pros and cons of the broker.

In this particular section, we will discuss the possible pros of GreatFXPro. The broker offers a viral and credible trading platform, the MetaTrader. It is enclosed with several technologically advanced features like Expert Advice, Automatic Trading, World-class Chartings, and others.   The broker also offers CFDs on a variety of trading assets, including indexes, stocks, foreign exchange, crypto coins, and precious metals. The broker also provides reasonable leverage levels that can be lucrative to most of the traders. However, higher leverages are prone to higher investment loss.

Now we will talk about the possible cons of GreatFXPro. The Marshall Islands-based organization named Clixads LTD owns and manages the brand GreatFXPro. The Marshall Islands are the offshore territory, and brokers operating from this territory are not regulated. Investments in such brokers are under substantial risk.

The minimum investment required for a basic account is $500 and is quite high. Also, the spreads provided on EURO USD foreign exchange pair is three pips. Such a high minimum deposit and spreads collectively increase the total cost of trading at GreatFXPro. The broker refuses to provide a free demo account, and it is another red flag for this broker. The 3rd party manages the provided MetaTrader trading platform, which is blacklisted by Belgium’s financial watchdog FSMA.

Is GreatFXPro scam or legit?

The broker is situated on the red-flagged territory of the Marshall Islands. It is also not regulated and unlicensed; the trading environment drives the cost of trading high. The blacklisted entity provides MetaTrader. GreatFXPro is a potential Australian trading scam.