Gio Fx Gain Review: Who is Behind GioFxGain.Net?
Why would a so-called transparent broker have its website taken down? Was it due to numerous complaints made by its victims or did it simply decide to vanish? The Gio Fx Gain review will debunk the lies of this fraud by gathering information from various sources in order to illustrate why phonies like this one should be avoided at all costs.
Allegedly, Gio Fx Gain is a subsidiary of Aviva Plc, a British multinational insurance company based in London. As you may have guessed, there is absolutely no correlation between the two entities, and surprise, surprise, the address is also fake. The unscrupulous broker’s lies just keep piling up and its regulatory status is no exception.
Working with unlicensed brokers, such as those described in the following paragraph, has the same risks as Finex Trader, TradeHUB, and Bullexo.
|Headquarters||Barrhill Rd, London SW2 4RJ UK|
|Broker Type||Forex, binary options, crypto, stocks|
|Platforms||Claims to offer Meta Trader 4 and 5|
Gio Fx Gain Regulation and Security
When you think of the UK, you may associate it with monarchy, afternoon tea, football, and queues. All these points have one trait in common, which is some kind of order. Hence, it is safe to assume that the country also has strict regulatory rules for the financial market to keep everything in check and enforce that order.
You’re right to believe so since the UK’s Financial Conduct Authority (FCA) does just that, making sure that the market is regulated and that all players abide by the law. What does it tell you if a broker, claiming to operate in the UK, is not included in the FCA’s register? Bingo, the company is unlicensed and poses a threat to everyone dealing with it.
That is precisely the case with our subject, Gio Fx Gain, which is nowhere to be found on the FCA’s website. Yet, the fraudster has the audacity to claim it is regulated.
Trading Software Used by Gio Fx Gain
What better way to conceal your lack of a valid trading platform than to brag about offering two of the most famous and beloved software in the world of trading – Meta Trader 4 and 5? Of course, Gio Fx Gain has none of these at its disposal so instead, it simply throws at its clients random, non-functional charts with no trading options whatsoever.
Bear in mind that financial swindlers use manipulative trading software in order to make you believe you’re profiting when in reality, you’re simply feeding their greedy desires. However, since this fraudster offered some charts that resemble a child’s scribbling on a piece of paper in kindergarten, it is impossible for this trap to even work.
On the other hand, Meta Trader 4 and 5 are reliable and top-notch trading platforms considered the industry’s best. Make sure to find a broker that can provide you with them as well as evidence of being licensed.
Gio Fx Gain Account Types
Similarly to other like-minded illicit brokers, Gio Fx Gain managed to present an upscale hierarchy of accounts, each promising more wealth than the other. In the grand scheme of things, this is not wrong at all, the only question that one needs to ask is who will be richer – the client or the company? Spoiler, the more you invest, the more the fraudster gains.
Since the website is down, we could not find the exact specifics that each of these account types offers except for the minimum deposits, which range from $500 (standard account) all the way up to a staggering $100,000 (VIP account).
Deposit and Withdrawal Method
When a broker offers loads of options for you to make a deposit or withdraw funds, it probably means it is a legit operator, although not necessarily. But, when you only get the option of paying in cryptocurrencies, then be sure you’re dealing with an outright scammer. Our fraudster only accepts Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and USD Tether.
Why is this, you might ask? Well, for starters, crypto is hard to trace. Secondly, it allows scam brokers to remain anonymous. Nonetheless, it is possible for you to get a refund since these transactions can be tracked to a wallet in exchange.
And before you even start thinking about trusting companies like this one, ask yourself – is $500 really worth risking with such as shady entity?
How Does The Scam Work?
Create a slick website, lie about being licensed, claim to offer the best software, promise clients a path from rags to riches, accept only payments via cryptocurrencies in order to remain anonymous, the website gets taken down, embezzle the clients’ money and in the end, disappear. Voila! You’ve got yourself a scam framework.
That’s most of these schemes in a nutshell. It seems that Gio Fx Gain is no different and there is no need to list further reasons to avoid dealing with fraudulent brokers like this one.
Suggested Forex Brokers
Now that we’ve cleared all the bogus, it is time to suggest some real brokers. Gio Fx Gain has nothing on these providers. Each of them is licensed and transparent. Furthermore, the minimum deposit you’ll have to make is much lower and more realistic. Once you get used to trading with these, you’ll never again consider trusting questionable phonies.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Gio Fx Gain Summary
- Gio Fx Gain is an unregulated broker that claims to be based in the UK;
- Contrary to its claim, there is no evidence of it actually operating there since the FCA has no information on the fraudulent broker;
- The website is unavailable, probably due to complaints or the broker’s own will;
- The information about the features is scarce;
- The only acceptable payments include cryptocurrencies.
FAQs About Gio Fx Gain Broker
Is Gio Fx Gain Regulated?
Gio Fx Gain is not regulated and is nowhere to be found in the FCA’s register.
What Are The Funding Methods for Gio Fx Gain?
Gio Fx Gain says it only accepts payments via crypto (Bitcoin, Ethereum, Litecoin, etc.).
What is the Minimum Deposit for Gio Fx Gain?
The minimum deposit that Gio Fx Gain requires clients to make is $500.