GrapheneFX – Can You Trust Them?

Website URL: https://graphenefx.com

Founded: 2021

Regulations: Not Regulated

Languages: English

Deposit Methods: Visa, MasterCard, Skrill, Neteller

Minimum Deposit: $100

Free Demo Account: Not Verified

Number of Assets: 1000+

Types of Assets: Foreign Currency Pairs, CFDs on Indexes, Stocks, Cryptos and Commodities

Trading Accounts and Conditions

GrapheneFx offers its client the following trading accounts:

• Standard Account: The initial deposit for this account type is $100. The broker states that the spreads start at 0.1 pips and that there is no commission or flat fee.
• Prime Account: To open a Prime Account, the initial deposit required is $1,500. The spreads are still at 0.1 pips and there is a low transaction cost (but the broker has not mentioned what this cost is). The commission is $10 per lot for a full round-turn.
• G-Plus Account: The minimum initial deposit to open this account is $3,000. The spreads remain at 0.1 pips, and the commission is $3.5 per lot, charged both at opening and closing a position.
• ECN Account: The minimum amount needed to open this account is $10,000. Spreads continue to be at 0.1 pips and the commission is $2.5 per lot, charged both at opening and closing a position.

The leverage is at 1:200. However, the broker also claims that under certain conditions, it is willing to offer a leverage that can go as high as 1:3000.

GrapheneFX – Advantages

We are leaving this section of our review blank since there are no advantages to trading with this broker.

GrapheneFX – Disadvantages

Here are the reasons why we would recommend avoiding GrapheneFX:

• Unregulated Broker

GrapheneFX claims that has 12 years’ worth of experience in the industry and that it is based in South Africa, with offices in the UK and Canada. The broker goes on to claim that it has a strong presence in Asia, Africa, and Europe, with more than 350,000 clients across the globe.

This broker then goes on to state that it is fully regulated by the St. Vincent and the Grenadines financial authority, the FSA (Financial Services Authority). GrapheneFX goes on to claim that it is also regulated by Belize’s International Financial Services Commission (IFSC).

Here is what is wrong with all these claims that this broker has made.

First, the SVGFSA does not regulated forex and binary options brokers. If you go to this regulator’s website, it has clearly stated that it does not offer any supervision for such brokers. Thus, this claim by GrapheneFX is a lie.

Next, this broker claims to operate in various locations. To be able to operate in so many locations, GrapheneFX would need to have multiple licenses to operate. Licenses from the FCA (Financial Conduct Authority) in the UK, any EU member nation’s regulatory authority such as the CNMV (Comisión Nacional del Mercado de Valores) or the CySEC (Cypus Securities and Exchange Commission), and licenses from the countries in which the broker claims to operate in Asia, Africa, and Canada.

And finally, its claim about being licensed by the IFSC is also a lie. We checked the IFSC’s online register, and we found no company or broker by the name of GrapheneFX listed there.

GrapheneFX has none of these licenses. Which means that all these claims are just lies meant to make it look more legitimate – a tool to con traders into thinking that it is a legal incorporated company. Which it isn’t – at all.

Plus500

$100

Minimum Deposit

Start Trading

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AvaTrade

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• Could Not Check Trading Terminal

GrapheneFX offers its clients the use of the MetaTrader 4 trading software, which would have been a huge plus. The MT4 trading platform is one of the best in the world. The range of tools this software offers cannot be matched by any other platform. You get charting tools, market analysis tools, financial calendars, a massive marketplace, automated trading bots and so much more. And all these tools are designed to help traders execute trades more effectively and efficiently.

The reason why we cannot add this as an advantage is because we were unable to check the software for ourselves. So, since we could not access the terminal and check it for ourselves, we would not put this as an advantage.

• Extremely High Leverage

GrapheneFX offers its clients a leverage of 1:200 and claims – as we said earlier – that it can offer as much as 1:3000 under certain conditions. This kind of leverage is just ridiculously high.

Using leverage to make trades is risky business. If you lose money after having taken high leverage ratios, then you could end up bankrupt. This is happened frequently in the past, because of which financial regulators in many countries have placed caps on how much leverage can be offered to individual traders.

In the UK, Europe, and Australia, that figure is 1:30. In the US and Canada, that figure is 1:50. Therefore a leverage of 1:200 is not only risky it is also illegal. So, if 1:200 is bad, we don’t even want to talk about that 1:3000 leverage that this broker offers!

• Payment Terms Not Defined

Another red flag we have is the fact that GrapheneFX has not bother to define its payment terms clearly. It mentions some payment methods – Credit Cards, Neteller and Skrill, but since we could not access their client page, we could not confirm whether these payment options actually exist.

Furthermore, there is no withdrawal policy specified. We do not know what is the minimum allowed withdrawal amount, or the terms of withdrawal. It’s all a blank.

Conclusion

So, to answer the question: Can GrapheneFX be trusted? The answer is a resounding No! This broker has lied about its credentials. It has also not specified key details as part of its terms of service and we could not even verify basics such as payment methods and trading terminals. This is broker that all traders need to stay far away from.

GrapheneFX

2.5

User Experience

2.5/10

Payment Options

2.3/10

Security

3.0/10

Support

2.7/10

Reputation

2.2/10

Pros

• None

Cons

• Unregulated Broker
• Could Not Check Trading Terminal
• Extremely High Leverage
• Payment Terms Not Defined