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GQFX Scam Alert | Fake Licenses, Withdrawal Traps & Real User Complaints
1 month before
Summary：GQFX (official website: https://gqfx.com) has a low rating of 1.35/10 on WikiFX. Users complain about withdrawal difficulties, wide discrepancies in platform execution and spreads, and suspected fraudulent licensing. This article, combining public complaints with platform regulations, provides an in-depth analysis of its scam tactics and real risks.
I. Rating and Warning Records
WikiFX's rating is as low as 1.35/10 : Highly negative user feedback, particularly regarding withdrawals and customer service responsiveness. ( wikifx.com )
WikiBit/WikiFX warns of a "Suspicious Clone" label : Third-party review platforms have repeatedly flagged GQFX's regulatory license numbers and entity information as suspicious. ( wikifx.com )
TradersUnion comments: "Scam & Crash Risk" : Users on the platform strongly warned others to avoid GQFX and complained about the difficulty in recovering their funds. ( Traders Union )
II. Empirical Complaints and Transaction Execution Issues
Withdrawal Delays and Rejections
Multiple users on WikiBit and WikiFX reported waiting days without a response or experiencing a "processing" status after submitting withdrawal requests; some were told "compliance review" was indefinitely delayed. ( forex.wikibit.com )Customer service is unresponsive or evasive . Users report slow or even nonexistent responses to support regarding withdrawals and account issues. Complaints include "emails read but not replied to" and "customer service only uses templated responses with no substantive solutions." ( wikifx.com )
Spreads/Fees Don't Match Advertisement
On WikiBit, there are reports that spreads on major currency pairs like EUR/USD have widened significantly during market fluctuations. Some trades experience significant slippage, and profitable orders may be rejected or canceled. ( forex.wikibit.com )Platform reliability and outdated tools
While the MT4 platform is available, users report poor interface stability, occasional trading delays, and data desynchronization. The official website advertises a wide variety of assets and tools, but the actual tradable varieties appear limited. ( forex.wikibit.com )
3. Scam Routines and Inducement Mechanisms
“Low Disclosure Regulation + High Promises” : Claiming to be regulated by multiple regulatory agencies, but the authenticity of the regulations in third-party materials is questionable. Leverage and quick withdrawals are promoted to attract users who do not understand the differences in regulations.
Hidden Terms and “Turnover Requirements” : Users claim that bonuses or promotions come with high turnover requirements, preventing them from withdrawing part or all of the bonus even if they make a profit.
Profit cancellation or account freezing : In complaints, some users reported that their accounts were asked to change their operating methods after they had profits, or were frozen due to suspected "arbitrage"; the profit balance was cleared or orders were canceled.
Customer interests are secondary to platform profits : Most complaints are concentrated when problems occur when users have large profits; if the account is active but not profitable or the trading volume is small, there are fewer problems.
4. Comparison of Legal and Compliant Platform Behaviors
| Dimensions | Examples of Compliance Platform Standards | GQFX Common Deviations and Issues |
|---|---|---|
| Trade execution and spread disclosure | Compliant platforms publish standard spreads and slippage policies on their official websites; transparently explain risks during periods of volatility. | GQFX users report significantly higher spreads, significant slippage, and a lack of clear slippage regulations. |
| Withdrawal and Customer Support Response Times | Compliant platforms usually process withdrawal requests within 1-5 business days; customer service responds promptly through multiple channels. | Users report delayed withdrawal approvals, and customer service is opaque, evasive, or unresponsive. |
| Authenticity and traceability of regulatory licenses | The legal regulatory number can be found on the regulatory agency's official website. The address and phone number of the legal person are consistent and can be verified. | GQFX's license number was flagged as suspicious or cloned by a third party and was not confirmed in the regulatory database. |
| Transparency of fees and promotion rules | All promotions, bonuses, discounts and fees are open, with explicit conditions and hidden terms disclosed. | Some of GQFX's promotional terms are invisible or hidden in the terms, which harms the interests of users. |
| Accumulation of user complaints and impact on reputation | Compliance platforms will receive complaints, but the rate is low and the response process is standardized; the reputation score is moderate or good. | GQFX has extremely low ratings on multiple platforms, including WikiFX, WikiBit, and TradersUnion. Complaints focus on withdrawals and customer service issues. |
V. Risk Scoring and Explanation (Out of 10)
Compliance: 1/10 — False or unsubstantiated regulatory claims, cloning suspected.
Fund Security: 2/10 — Most complaints related to withdrawal difficulties, account freezes, and profit reversals.
Transparency: 2/10 — Terms and conditions are opaque, and spreads and fees vary widely.
Trade Execution and Slippage: 2/10 — Users report wide variations in spreads and execution quality.
Market reputation and credibility: 1/10 — The overall score is very low (~1.35/10), and its credibility is seriously questionable.
➡️ ⚠️ Overall Risk Score: 1/10 – Extremely High Scam Risk
6. Frequently Asked Questions
Q1: Why did WikiFX give GQFX a 1.35/10?
A1: Due to frequent withdrawal complaints, slow customer service responses, and regulatory statements being flagged as suspected clones, these issues have been reported by a large number of users. ( wikifx.com )
Q2: What is the real reason for the difficulty in withdrawing cash?
A2: This is because the platform may frequently change verification document requirements and refuse or delay payments due to "compliance review" or "system issues." This has been seen repeatedly in user cases. ( forex.wikibit.com )
Q3: Have all users been defrauded of their money?
A3: No, but the majority of complaints come from lottery winners. Those with "smooth withdrawals" often have small or no significant profits. Reporters claim problems only occur when profits are high or trading volume is high. ( wikifx.com )
Q4: Are the spreads and slippage issues on the GQFX platform legitimate?
A4: Legitimate platforms will disclose their slippage policies and spread ranges. GQFX users have reported unstable spreads, severe slippage, and execution delays (especially during market fluctuations). ( forex.wikibit.com )
Q5: What specific suggestions can I use to avoid being deceived by platforms like GQFX?
A5: Test withdrawals with a small amount first; save all communication records; verify the regulatory number and its traceability; avoid being tempted by bonuses/high leverage promotions.
in conclusion
Combining the latest user feedback and evidence from third-party platforms, GQFX not only has serious doubts about its advertised supervision and licensing, but also has received a large number of complaints regarding withdrawal issues, spread and execution issues, profit revocation, and account freezes.
The overall risk score is only 1/10 – indicating extremely high risk. Investors are advised to avoid using it completely or not invest real money until all evidence is confirmed to be reliable.
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