Gloffix.com Review: A Rogue and Scam Broker? - Topedgefx.com

Gloffix.com Review: A Rogue and Scam Broker?

Gloffix.com is a Forex broker with an attractive website but zero reputation.

They failed to garner enough ratings for inclusion in our list of the best Forex brokers worth trading with.

Gloffix.com is operated by GLF INTERNATIONAL LTD which is a company that was incorporated in the UK on the 23rd December 2020.

At the time of writing this review, the company was just 2 months old.

On the other hand, Gloffix.com’s domain was registered in 1970.

It would seem plausible if both the company and website were registered at around the same time.

It appears the company bought a domain that has been up for sale, just like Worldmarkets.com scam did when launching their site.

This disparity is also due to the fact that the broker is new but does not want to accept this fact or even relay this information to prospective customers.

The broker has even deliberately concealed the history of their website domain on the Internet Archives records.

It feels creepy to notice the kind of desperate tactics Gloffix is using in an attempt to appear established.

That aside, their offer does appeal to traders of Forex, Indices, CFDs, Commodities and Crypto.

Gloffix even claims that their clients can trade major pairs at minor fees.

Their shiny website promises ease of access to their trading platform, saving of time and money thanks to their market experts, compatibility with all trading styles and the ability to make money by copying other traders.

Gloffix.com Broker trading platform

They are offering 2 kinds of trading platforms.

1.Sirix trading platform

2.MetaTrader

Sirix Trading platform is not the number one choice for serious trader, though Gloffix still claims it is user-friendly and traders will love its one-click execution capabilities.

The broker is also marketing it on the basis of this platform accommodating indicators, chart analysis and available in all devices.

However, when it comes to describing their MetaTrader offering, I find a rather strange statement where the broker is only addressing clients who want to buy a white label solution from them.

There is no indication anywhere on the sales page that Gloffix will provide MT4 trading platform to traders who want to use it.

Gloffix Account Types

They provide 5 different account types with minimum deposit of $250 but encouraging customers to deposit at least $1,000.

Some account types do not come with a dedicated account manager as this is a ‘premium’ service.

Leverage is from 1:100 to 1:400. This is fair enough for those who want to trade Forex.

However, it could be quite controversial for CFDs trading since CFDs are just another type of fraudulent financial instruments.

They lack market backing and are even considered illegal in countries like the US.

Interestingly, Gloffix is also accepting traders from the US despite knowing that this goes against the rules of the CFTC.

I would like to mention that this broker is also providing some type of trading education in form of e-books, video tutorials and one-on-one training with a personal trainer.

Promotion and bonuses

Gloffix is a brand new broker, hence they are running lots of promotion to attract clients.

My research shows that the broker is hardly getting 100 clients per day.

That said, I noticed that their promotion was all about encouraging traders to deposit 1000EUR or more.

This could be detrimental to the success of beginners who have not understood the market properly.

Furthermore, you can’t rely on the kind of training they purport to provide as a broker’s job is to provide a trading environment, not training.

The license issue

Gloffix is operating from the address Apartment 61 Pelham House 65
Great Peter Street London , United Kingdom, P.O: SW1P 2BP.

Why they are operating in the UK and not displaying or talking about their FCA license is beyond my understanding.

So my conclusion is that this broker is unregulated and even dangerous to trade with.

I don’t see how on earth they will fulfill their promises despite not getting the basic things right.

I prefer trading with regulated brokers because they are safer than companies that provide unlicensed financial services.

Conclusion

Gloffix is definitely a broker to avoid as many people would never overlook the regulatory part.

Secondly, they score poorly in terms of transparency as the cost of spreads was never revealed, and they also pretend a lot.

Thirdly, I do not feel comfortable giving a broker my phone number as they could either sell this info or use it to pressurize me into making a deposit.

Being a new broker, we just don’t want to rush towards signing up as this could be disastrous.

That said, Gloffix is not a broker to use in 2021. Thanks for reading.

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