Gordonzak Broker Review
First off, we want to make clear that the TradingBloom website was down as this review was being written. Only a few months after the company was banned by a number of authorities, they made the decision to shut down the website and disappear, leaving many people without any money. Read our TradingBloom review and compile all the evidence you’ll need in case of a dispute.
Broker status: Offshore Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: gordonzak.com
Blacklisted as a Scam by: CNMV, FSMA, CMVM, A-TVP
Owned by: Gordon Group Ltd
Headquarters Country: Marshall Islands
Foundation year: 2021
Supported Platforms: WebTrader
Minimum Deposit: $200
Cryptocurrencies: Yes
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:100
Free Demo Account: No
Accepts US clients: No
How Does Gordonzak Regulation Apply?
The Marshall Islands-based Gordon Group Ltd. owns the Gordonzak brand. We looked into Gordonzak regulation because this nation is regarded as an offshore location with the laxest financial regulation.
In addition to the aforementioned, we advise against investing with shady brokers like Cupiro, Global Solution, and Margex.
Why is a license required for brokers?
Brokers need a license to adhere to regulations and create compensation funds. For example, Tier 1 regulators like FCA, ASIC, and BaFin mandate that Forex firms maintain above 700,000 EUR in these funds for client reimbursement. It functions as a kind of money-back guarantee for you, the client.
Sadly, Gordonzak only changed the owner’s name and didn’t go that far to obtain a regulation.
Financial regulators’ Gordonzak cautions
In response to Gordonzak’s accusations, the Spanish regulatory body has officially warned the company. According to CNMV, Gordonzak offers unlicensed financial services, thus customers should steer clear.
Later, a number of authorities, including Belgian FSMA, reissued the same warning.
A-TVP in Slovenia. And CMVM in Portuguese.
Reviews from Traders Regarding Gordonzak Scam
Traders have a number of grievances, including difficulty with withdrawals, malfunctioning trading systems, and unregulated trading circumstances.
Gordonzak uses a variety of false promises to entice consumers to invest, but whenever they decide to make a withdrawal, their accounts are suspended.
Gordonzak – Trading Conditions Not Competitive
While Gordonzak may boast about delivering enormous profits and a trading revolution, nothing has actually happened. While the EU and UK regulators have rigorous limits on 1:30 or 1:50 for the Forex market, the leverage is excessively high, rising up to 1:100.
Furthermore, some licensed brokers offer raw accounts with no spread, whereas the spread starts at 1.6 pip.
Additionally, there is a Bonus Policy that stipulates that customers must repay the bonus and the initial deposit 40 times before they may request withdrawals. It appears to be just another ruse designed to keep you from receiving your money back.
Supported Trading Platforms – Software for Trading
The Gordonzak trading platform was inoperable at the time of this assessment. Website maintenance was in progress.
We understand that the company offers a straightforward WebTrader that is similar to a TradingView chart in that it has a few charts and indicators. As has been mentioned, the trading environment is far from optimal, so why would you even think about doing business with this company if you can’t even use the platform?
Gordonzak Selection of Trading Tools & Markets
Although the company’s website implies that its primary concentration is on cryptocurrency, it appears to have access to all five major marketplaces.
- Exchange rates
- Commodities
- Indices
- Shares
- Cryptocurrencies
Gordonzak Methods for Deposit and Withdrawal
There are 3 payment options available:
- Credit or debit cards
- Cryptocurrencies
- Wire transfer
The minimum is $200, but it’s unclear if it applies to all payment methods or just cards. But investing through a wallet is risky because the transaction cannot be tracked, but using a credit card gives you the chance to ask for a chargeback within 540 days.
Is Gordonzak A Scam Broker?
Online Forex and CFD trading is offered by Gordonzak, which is unregulated. Contact us if you are associated with this company if you need help with the refund.
Many nations, including Spain, Portugal, Belgium, and Slovenia, have blacklisted Gordonzak.
There are definitely good reasons to be wary of the services offered by brokers Gordonzak.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
