GIFX PRIME Review 2024
Minimum
deposit:
  • $100

Trading platform:

  • MetaTrader5

GIFX PRIME Review 2024

Updated:
Updated: April 12, 2024

Summary of GIFX PRIME Trading Company

GIFX PRIME is a broker registered in Saint Vincent and the Grenadines under the number 1100 LLC 2021, according to the information provided on its website. The broker has been providing services since 2008 and claims to offer favorable trading conditions. Over 100 financial instruments are available for trading, including currencies and cryptocurrencies, stocks, global indices, and commodities.
Spreads on standard accounts start from 1.2 pips, and on professional accounts, they start from 0.8 pips. However, clients complain that the actual figures are much higher. Traders who have worked with this broker often mention in their reviews that the information on the website regarding trading conditions is incorrect. Many users also complain about problems with withdrawals. Clients who have lost their money claim that this broker's operations are focused on attracting investments with the intention of not returning funds and enriching themselves through fraudulent schemes.

User Satisfaction i

10 comments
Total score:
2.2 /10

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usadaysurce
1 week ago

Don't get involved with these thieves because once you give them your money, you can say goodbye to it forever. This broker is not regulated, and you won't be able to complain to anyone to recover what was stolen. I lost a very large sum, and I couldn't do anything to get it back. I found out that the founder of the company lives in Dubai, probably off the money he scams from the trusting traders, who opened account. I filed a report with the police, but I doubt it will help punish these thieves, and get my money back.

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saliya
23 weeks ago

I have no understanding of financial markets, so I only considered long-term investments in stocks. This idea was suggested to me by a client relations manager who called and persuaded me to start working with GIFX PRIME. The prospects outlined seemed so real that I entrusted them with all my savings. I selected the most successful companies and bought their stocks. Initially, everything was great, and my choice justified itself. But one day, I simply couldn't log in on the website or the trading platform. Appeals to client support led to nothing. These scammers took my money and stopped responding.

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mayx181992
9 weeks ago

I worked with this broker for almost two months until problems with the server started. All orders on the platform were frozen and did not respond to my commands. Support promised to resolve the issue, but this situation lasted for several more days. When I finally managed to close positions, I decided to withdraw my capital, but they started having problems again, this time with payment gateways. In the end, I couldn't withdraw anything because they blocked the account, and support didn't respond to my inquiries, even though I wrote to them several times a day.

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zvp
17 weeks ago

I opened a Mini account with GIFX PRIME to avoid risking a large amount and check the conditions with a minimum deposit of $100. I traded cryptocurrencies with leverage 1:10 and managed to consistently make a profit, albeit a small one. I then decided to switch to a classic account with narrower spreads, and that's when the troubles began. Firstly, trades were closed for unclear reasons, causing me to lose about 20% of my capital. Support couldn't provide any reasonable explanations. Then the funds I requested for withdrawal went missing. Support insisted that the problem was not on their end. I never figured out this issue, so I withdrew the remaining money and regretted getting involved with this broker.

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anom_86
10 weeks ago

At the beginning, everything looked promising. I mainly traded stocks and planned long-term investments. I invested in shares of several major companies and periodically monitored price movements. After some time, a manager called me and said he wanted to help me earn, but I had too little money. He convinced me to fund the account and invest more. As soon as I did that, the shares I bought on his advice began to rapidly lose value. In the end, I lost a large sum, but fortunately, I managed to retrieve what was left in the account. When I read reviews, I realized I could have lost everything.

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Viahsoita
20 weeks ago

I tried to make money with GIFX PRIME for almost three months, but it's just impossible. Quotes are far from even the market averages, commissions are not at all as stated on the website, and the platform works terribly. In all my time using MT5, I've never encountered such lagging as I did when trading with this broker. Constant slippages, coupled with less favorable commissions, rendered all my efforts to earn a profit useless. I wrote to support and asked them to resolve the issue, but there were only promises. I found another company where clients are valued, and they provide normal trading conditions.

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wazir
39 weeks ago

I've been trying to get a response from support for several weeks now but to no avail. I worked with GIFX PRIME for just under a month and decided to check how money withdrawals work there. They rejected the request, explaining that I failed verification because the photo of one of the documents was illegible. Uploaded a new copy, and waited for several days, but the status in the user account did not change. The situation is still ongoing, and there's no progress. They simply ignore me and don't confirm verification, although I did everything as they told me, and therefore, they don't withdraw money.

Trading Conditions for GIFX PRIME Users

💻 Trading platform: MetaTrader 5
📊 Accounts: No
💰 Account currency: No
💵 Replenishment / Withdrawal: No
🚀 Minimum deposit: $100
⚖️ Leverage: up to 1:1000 depending on the instrument
💼 PAMM-accounts: No
📈️ Min Order: No
💱 Spread: from 1.2 pips on Mini accounts, from 1 pips on Classic account, and from 0.8 pips on Premium Account
🔧 Instruments: No
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: No
➕ Affiliate program: No
📋 Orders execution: No
⭐ Trading features: No
🎁 Contests and bonuses: No

Contacts

Registration address Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Why has GIFX PRIME been placed on the Forex Broker Blacklist?

Possible reasons:
• multiple complaints have been filed against GIFX PRIME by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of GIFX PRIME is down, not updated or operates with clear errors and some features are not available;
• GIFX PRIME has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.

What should I do if GIFX PRIME got blacklisted and I still have money in my account?

Don’t panic right away. First, try to find out the reason why GIFX PRIME got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.

What should I do if I cannot withdraw my money from GIFX PRIME?

If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.

Is there any chance to recover my money if GIFX PRIME is a scam?

On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.

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