The United Kingdom-based broker GNTFIN claims to give the best trading facilities. It provides two world-class trading platforms and a wide range of trading assets. The available trading assets include foreign exchange pair, indices, commodities, and stocks. Sadly, cryptocurrencies cannot be seen in the presentation. All this sounds reassuring but there are many problems of GNTFIN, one of them is the broker’s unlicensed nature. In this GNTFIN review, we will discuss all the issues of this broker. We strongly suggest reading the following review before making any investment in this broker
The major concern of regulation is unanswered by this broker. The corporate presentation of this broker is quite confusing. The broker claims to be owned by the United Kingdom-based company named Zentrale Zahlstelle Ltd. Also, in the terms and conditions section, it mentions another company GNTFIN Limited based in Estonia and governed by Estonian laws. Furthermore, we can see some addresses from Bulgaria and Monaco in the Contact Us section. Unfortunately, the broker is not regulated by the UK’s Financial Conduct Authority nor by the Bulgarian Financial Supervision Commission or by any other authority. In addition to this, Italian financial watchdogs CONSOB has blacklisted this broker for providing illegal brokerage services in its territory. The broker claims to offer trading on two trading platform that is MetaTrader and Sirix. Nevertheless, we can only access one trading platform called Sirix. The broker claims to provide spreads of zero pips but it charges a commission of 6% on every trade. Considering overseas and unregulated nature of the broker these rates are high. The leverages offered by this broker are uncleared and it is another worrying fact. The basic account required Euro 250 minimum deposit but other three accounts require higher initial investment starting from Euro 10000. The payment methods are not mentioned on the website. Also, the minimum withdrawal amount by bank wire transfer is kept at 3000 Euro or GBP.
Is GNTFIN scam or legit?
The broker’s corporate structure is chaotic and we could not conclude anything from it. The broker is unregulated and blacklisted by Italian financial authority CONSOB. The trading conditions are unclear and only Sirix trading platform is provided. The minimum withdrawal amount is very high. Therefore we claim this broker as a potential scam broker 2020.