Is GCC Investing a scam broker?
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GCC Investing is located at Sofia Bulgaria and is into forex and CFDs brokerage. Its payment processor is Mercure Services Ltd located at St. Vincent and Grenadines. GCC Investing was founded in 2016.
They are working on Sirix trading software which was web-based version and available as a mobile app for Apple and Android devices. For the desktop version, they are using standard MetaTrader4. They also offer various other platforms. Many online scam brokers make small changes in software programming which helps them to fool traders and in-turn benefit the company or its members.
GCC Investing MT5 – This platform is preferred by beginners as well as experts because of it charting and analysis.GCC Investing gives traders access to strong instruments and advantages that assist them. Apart from automated features, it is supported by EA service, necessary indicators, charting tools, simple order entries, ability to open more than one account, and downloading.
Web Trader platform has advance indicators and charting tools built-in. One can also do social trading to increase the speed of displaying assets, lot sizes and prices, and visual present trends. It is the user-friendly interface and convenient top open positions.
Account types on offer are Basic, Silver (minimum deposit $ 2500), Gold ($10000), Platinum ($100000), Diamond ($500000). They also have an Islamic account which abides by Sharia law. On their site, they have not mentioned minimum deposit for their Basic account. They also have a demo account which is helpful to new traders where they can practice before diving into real or actual trading. Account currency is USD.
The Automated trading feature gives the trader an opportunity to trade more rapidly as the market is being constantly monitored and handles trades automatically. Due to financial expert advisor feature, the trader can trade more effectively. But it also has its shortcomings or drawbacks.
Funds can be deposited and withdrawn through credit cards (Visa, Maestro, and MasterCard) and bank wire transfer. Withdrawal can be done by same method only through which the funds were deposited.
Though they are from Bulgaria they claim to have regulation from Vanuatu Financial Services Commission, this is one indication that GCC Investing is a scam broker. As everyone knows VFSC initial capital deposit is very low and everyone can start as the rules are very light, that is no strict laws exist in Vanuatu.
Though GCC Investing was launched in 2016 it appears to be newly launched as most of the pages inform “Coming Soon”. There is an economic calendar where one can get information on upcoming events which can create ripples in the financial market. There is also a calculator (Pivot, Fibonacci and Deal size) which helps the trader to better his chances at the trade.
Education section consists of trading e-books, Video Tutorials, and trading glossary. There is FAQ section along with written articles being published.
It has high fixed spread thereby meaning the high risk to traders.
If you are a sufferer of fraud by GCC Investing you can contact MyChargeBack for help to retrieve your money. MyChargeBack has a team of professionals from different backgrounds like financial, legal and regulatory and assists fraud victims to recover the money.