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The WikiFX Score of this broker is reduced because of too many complaints!

GRIC FX

United States|2-5 years|
Regulated in United States|Suspicious Regulatory License|MT4/5 full license|Chinese market only|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://greaticapital.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
GreatIntlCapital-Live MT5
Server Location Hong Kong

Contact

service@gicc-fx.com
https://greaticapital.com
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

GREAT INTERNATIONAL CAPITAL CORPORATION

Company Abbreviation

GRIC FX

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 4
Previous Detection : 2023-11-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 11 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    GRIC FX · Company Summary

    GRIC FX Basic Information
    Company Name GRIC FX
    Founded 2019
    Headquarters United States
    Regulations Not regulated
    Tradable Assets Forex, CFDs, Metals, Energies, Indices, Cryptos
    Account Types Standard Account, Cent Account, Pro Account
    Minimum Deposit From $0
    Maximum Leverage 1:500
    Spreads From 1.5 pips
    Commission From 0 pips
    Deposit Methods Bank transfer, Credit card, Skrill, Neteller, Perfect Money, Bitcoin
    Trading Platforms MetaTrader 4, MetaTrader 5, WebTrader, Mobile Trading App
    Customer Support Email support (service@gicc-fx.com)
    Education Resources Trading courses, video tutorials, articles, live webinars, forum, demo account
    Bonus Offerings None

    Overview of GRIC FX

    GRIC FX, established in 2019 and headquartered in the United States, is a brokerage that offers traders access to a diverse range of financial instruments. While it provides a wide array of tradable assets, including Forex, CFDs, Metals, Energies, Indices, and Cryptocurrencies, it's important to note that GRIC FX is not regulated. While the brokerage holds a license with the United States National Futures Association (NFA), its regulatory status is currently abnormal, with an official designation as unauthorized. This regulatory situation should prompt traders and potential clients to exercise caution and conduct thorough due diligence before considering GRIC FX as a trading platform.

    GRIC FX caters to traders of varying experience levels by providing three distinct account types: Standard Account, Cent Account, and Pro Account. Each account type comes with its own set of features, offering flexibility and choice to traders. Additionally, the brokerage offers leverage of up to 1:500, which can amplify both profits and losses. GRIC FX charges spreads and commissions, and the exact trading fees may vary depending on the trading instrument and account type. While the brokerage provides multiple deposit methods, it's worth noting that some non-trading fees, such as inactivity and withdrawal fees, may apply. In terms of educational resources, GRIC FX offers a range of materials, including trading courses, video tutorials, articles, live webinars, a forum, and a demo account, aiming to support traders in enhancing their skills and knowledge. However, the absence of specified bonus offerings may be a consideration for some traders.

    basic-info

    Is GRIC FX Legit?

    GRIC FX is not regulated. While it holds a license with the United States National Futures Association (NFA) under license number 0532585, it's essential to note that the regulatory status of GRIC FX is currently abnormal, and the official regulatory status is unauthorized. Traders and potential clients should exercise caution and be aware of the associated risks when considering GRIC FX as a trading platform. It's advisable to thoroughly research and consider the regulatory status and oversight of any brokerage before engaging in trading activities to ensure the safety and security of your investments.

    regulation

    Pros and Cons

    GRIC FX offers traders a diverse range of tradable assets, including Forex, CFDs, metals, energies, indices, and cryptocurrencies. With multiple account types catering to both beginners and experienced traders, it provides flexibility. The generous leverage of up to 1:500 can amplify trading potential. Moreover, GRIC FX offers various educational resources, enhancing the learning experience. However, the absence of regulation and the associated risks should be a significant concern for traders. Additionally, non-trading fees, limited customer support options, and unclear bonus offerings are areas that could be improved for a better overall trading experience.

    Pros Cons
    Diverse Tradable Assets Lack of Regulation
    Multiple Account Types Non-Trading Fees
    Generous Leverage Limited Customer Support
    Educational Resources Unclear Bonus Offerings

    Trading Instruments

    GRIC FX offers a comprehensive range of trading instruments, including:

    Forex: Trade major, minor, and exotic currency pairs.

    CFDs: Engage in Contracts for Difference across various assets, including stocks, commodities, indices, and cryptocurrencies.

    Metals: Trade precious metals such as gold, silver, platinum, and palladium.

    Energies: Participate in the energy market with oil, natural gas, and other commodities.

    Indices: Trade on numerous stock market indices like the S&P 500 and the Dow Jones Industrial Average.

    Cryptocurrencies: Take positions in popular cryptocurrencies like Bitcoin and Ethereum.

    market-instruments

    Here is a comparison table of trading instruments offered by different brokers:

    Broker Forex Metals Crypto CFD Indexes Stocks ETFs
    GRIC FX Yes Yes Yes Yes Yes No No
    EXNESS Group Yes Yes Yes Yes Yes Yes No
    Pocket Option Yes Yes Yes Yes Yes Yes No
    RoboForex Yes Yes Yes Yes Yes Yes Yes

    Account Types

    GRIC FX offers 3 account types: Standard Account, Cent Account, and Pro Account.

    Standard Account: This is the most basic account type and is suitable for beginners. It has no minimum deposit requirement and no trading fees.

    Cent Account: This account is designed for traders who want to trade with smaller amounts of money. The minimum deposit is $1 and the spreads are slightly wider than the Standard Account.

    Pro Account: This account is designed for experienced traders who need more flexibility and control. It has a lower minimum deposit requirement and tighter spreads.

    Leverage

    GRIC FX offers leverage up to 1:500, which means that you can control a large position with a small deposit. For example, if you have a $1000 deposit and you use leverage of 1:500, you can control a position worth $500,000.

    Leverage can magnify your profits as well as your losses. This means that you can make more money with a smaller deposit, but you can also lose more money if the market moves against you.

    It is important to use leverage carefully and to understand the risks involved. If you are not comfortable with the risks of using leverage, then you should not use it.

    Here is a comparison table of maximum leverage offered by different brokers:

    Broker GRIC FX FxPro IC Markets RoboForex
    Maximum Leverage 1:500 1:200 1:500 1:2000

    Spreads and Commissions (Trading Fees)

    GRIC FX charges spreads and commissions on its trades. The spreads are the difference between the bid and ask prices, and the commissions are a flat fee charged per trade.

    The spreads and commissions charged by GRIC FX vary depending on the trading instrument and the account type. For example, the spreads for the EUR/USD currency pair are 3.0 pips for the Standard Account, but go down to 2.0 pips with a Platinum account.

    Here is a table summarizing the spreads and commissions charged by GRIC FX for some popular trading instruments:

    Trading Instrument Standard Account Cent Account Pro Account
    EUR/USD 3.0 pips 3.5 pips 2.0 pips
    GBP/USD 3.5 pips 4.0 pips 2.5 pips
    AUD/USD 3.2 pips 3.7 pips 2.2 pips
    XAU/USD 1.8 pips 1.9 pips 1.5 pips
    BTC/USD 6.0 pips 6.5 pips 5.0 pips

    Non-Trading Fees

    GRIC FX imposes non-trading fees that traders should be aware of. Firstly, there is an inactivity fee of $10 per month if your account balance falls below $200. This fee is relevant for traders who may not actively engage in trading activities and should encourage account activity to avoid incurring extra charges.

    Additionally, GRIC FX applies swap fees on overnight positions. These fees are determined by the interest rate differentials between the two currencies involved in the trade. Swap fees are common in the forex market and can either be positive or negative, depending on the direction of the trade and the interest rate differentials. It's essential for traders to consider these non-trading fees as part of their overall cost analysis when using GRIC FX as their trading platform.

    fees

    Deposit & Withdraw Methods

    GRIC FX provides multiple options for depositing and withdrawing funds, making it convenient for traders to manage their accounts.

    One of the primary methods is through bank transfers, which do not incur a deposit fee. However, it's important to note that there is a withdrawal fee of $25 associated with this method. Traders who prefer the ease of credit card transactions can use this option, but there is a 2% funding fee for credit card deposits. The withdrawal fee for credit card transactions is $10.

    For those who prefer digital payment solutions, GRIC FX offers several choices. Skrill, Neteller, and Perfect Money are all available with no deposit or withdrawal fees. Additionally, Bitcoin is accepted as a method for both deposits and withdrawals without any associated fees. These options cater to the varying preferences of traders, ensuring they have flexibility when managing their accounts.

    Trading Platforms

    GRIC FX provides traders with a selection of trading platforms to suit their individual preferences and needs. One of the popular choices is MetaTrader 4, a widely-used platform known for its versatility and user-friendly interface. MetaTrader 4 offers an array of features, including advanced charting tools, technical analysis capabilities, and support for automated trading strategies.

    For traders seeking more advanced functionalities, GRIC FX offers MetaTrader 5, the latest iteration of the MetaTrader series. MetaTrader 5 introduces new features like algorithmic trading and copy trading, making it an ideal choice for experienced traders looking to diversify their strategies.

    Additionally, GRIC FX offers a web-based trading platform known as WebTrader, which enables traders to access the markets from any computer with an internet connection. This platform offers flexibility and convenience for those who prefer browser-based trading.

    For traders on the go, GRIC FX provides a mobile trading app, allowing them to trade and monitor their accounts from their mobile devices. The choice of trading platform ultimately depends on an individual's level of experience and specific requirements, ensuring that traders have options tailored to their needs.

    Customer Support

    GRIC FX offers customer support through email communication. Traders and clients can reach out to the company's support team by sending emails to service@gicc-fx.com. While email support provides a channel for inquiries and assistance, it's important to note that additional customer support options, such as phone support or live chat, may enhance the accessibility and responsiveness of customer service. It's advisable for traders to check the company's website or contact them directly for more information on the availability of different support channels and their responsiveness to client queries and concerns.

    Educational Resources

    GRIC FX offers a range of educational resources for traders. These resources include trading courses, video tutorials, articles, and blog posts that cover various aspects of forex trading. Traders can access live webinars to stay updated on market trends and participate in a forum to discuss trading strategies with fellow traders. Additionally, GRIC FX provides a demo account for practice trading with virtual funds, making it suitable for traders of all experience levels to improve their forex trading knowledge and skills.

    Conclusion

    In conclusion, GRIC FX offers a wide array of tradable assets and diverse account types, making it accessible to traders with varying levels of experience. The high leverage potential can be enticing for those seeking amplified trading opportunities. However, the lack of regulatory oversight poses a significant risk, and the absence of clear bonus offerings and limited customer support options may deter some traders. Traders should approach GRIC FX with caution, conducting thorough research and risk assessment before considering it as a trading platform.

    FAQs

    Q: Is GRIC FX regulated?

    A: GRIC FX is not regulated, and its regulatory status is currently abnormal.

    Q: What are the account types offered by GRIC FX?

    A: GRIC FX offers three account types: Standard Account, Cent Account, and Pro Account.

    Q: What is the minimum deposit required to open an account with GRIC FX?

    A: The minimum deposit varies depending on the account type but starts from $0.

    Q: What is the maximum leverage offered by GRIC FX?

    A: GRIC FX offers leverage of up to 1:500.

    Q: What trading platforms are available at GRIC FX?

    A: GRIC FX provides MetaTrader 4, MetaTrader 5, WebTrader, and a mobile trading app as trading platforms.

    News

    WikiFX Review: Plz Watch Out For GRIC FX!!!

    ExposureWikiFX Review: Plz Watch Out For GRIC FX!!!

    2022-11-08 15:49

    Stay away from brokerage firms like GRIC FX that was not licensed by national financial institutions.

    WikiFX
    2022-11-08 15:49
    Exposure
    WikiFX Review: Plz Watch Out For GRIC FX!!!
    Global markets are at your fingertips

    NewsGlobal markets are at your fingertips

    2021-12-16 18:39

    GICC FX USES the most advanced ECN quote technology in the industry to continuously optimize the spot spread while providing traders with the perfect one-stop global fx and CFD trading experience to meet the trading needs of different types of traders.

    WikiFX
    2021-12-16 18:39
    News
    Global markets are at your fingertips

    User Reviews

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    超人队长-超人社区®
    more than one year
    GRIC FX's website is no longer open. It seems that there are always many companies in the foreign exchange industry that are short-lived and fail within two years of their establishment. What's worse is that I've seen many people have been scammed out of money by this company...it's quite infuriating.
    2023-03-14 17:08
    Reply
    0
    0
    Talal
    more than one year
    yes
    2022-11-24 03:24
    Reply
    0
    1
    janan&janan
    more than one year
    good
    2022-11-08 11:03
    Reply
    0
    0
    Pisey
    more than one year
    please helps me
    2022-10-10 19:43
    Reply
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