GFF Brokers - on the one hand, it is still a fairly young brokerage company, on the other hand, it is the transformation of the Global Futures broker, well-known in the trading circles, which was acquired by a group of financiers. GFF Brokers is an American registered company registered with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). The company offers trading in futures and currencies.
Products and services:
Trading opportunities include futures and options on futures as well as the foreign exchange market. The Forex and CFD markets offer traders a wide range of trading instruments. The set depends on the platform that the client will be using.
History of the company:
The company was formed in 2017 after the sale of one of the industry's "veterans" - Global Futures. Currently, the copyright holder of the GFF Brokers brand is GLOBAL FUTURES & FOREX, INC. The company is headquartered in Glendale (California, USA). The founder and CEO of the broker is Greg Khodjikian. It should be noted that the majority of employees of the acquired Global Futures, which have worked in the market for over 15 years, continue to work for GFF Brokers.
The clients' assets, according to the company representatives, are reliably protected. Segregated accounts. However, it was not possible to find confirmation of the insurance funds by the SIPC fund.
Accounts and currencies:
It should be noted that the broker does not have a standard division of trading account types. Each trading account is opened individually after consultation with a potential client. Based on the information received, the company's employees form the parameters of the trading account specifically for the client. Account currency USD.
The deposit starts from $ 1.
Spreads and commissions
Spreads start from 0 pip. Commissions are set individually. The size of the commission fee is determined by the company's specialists based on the results of studying the questionnaire completed by the trader. Pay special attention to the very impressive list of commission fees on the broker's official website. It should be noted that all of its points cannot be applied to one client.
No leverage is provided.
In this regard, the broker GFF Brokers is more than versatile and offers its clients more than 30 different trading platforms for trading currencies and futures. There is a platform for almost any requirement here. Most of them have mobile versions for different operating systems. There are 5 programs available for trading on the foreign exchange market:
Meta Trader 4; EC Trader; Global Zen Trader (GTZ); FOREXTrader and its FTP variant.
The support service works 24/5. You can contact support specialists by phone or email indicated on the broker's page. Accounts in social networks Twitter, Facebook, Linkedin are also available. Another convenient option for communicating with the company is live-chat (there is a Russian-language version). Please note that the phone call is free for US and Canadian residents only. The language of communication is English.
Reviews of traders
The broker has been operating on the market for less than two years, and during this time there are few reviews about him, and in the Russian-speaking segment of the market there is no one at all. If you focus on the comments of foreign traders, then all positive reviews are based on the experience of cooperation with Global Futures. This company enjoyed the trust of customers, but closed a few years ago.
a wide range of investment instruments; low entry threshold.
a large number of commissions and fees; lack of PAMM service; the broker does not work with binary options.
GFFBROKERS is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker GFFBROKERS makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. GFFBROKERS received a score of 1 of 5 on our resource.