Heard of Gateexprop.com trading platform? Read GateEX reviews to know about this forex broker if they are scam or legit.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is GateEX?
GateEX otherwise known as Gateexprop.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Additionally, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
GateEX Regulation
First thing first, GateEX claims to have registered offices in different locations, namely San Francisco, Malta, Hong Kong, Singapore, Japan, and Korea. However, our findings unveiled that the company had no valid forex license to operate within any of these jurisdictions.
Another leading financial regulators , the Ontario Securities Commission (OSC) and the British Columbia Securities Commission (BCSC) in Canada explicitly warns that GateEX is a scam.
It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
GateEX Platform
GateEX offers web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
GateEX Minimum Deposit for Traders
We were unable to find information about GateEX account types and minimum deposit requirements. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
As for payment methods, GateEX does not make that clear for clients unlike other licensed trading platforms.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
GateEX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Gateexprop.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Conclusion:
GateEX appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
Please share with us your experience in the comment section below. Thank you!
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A Pig Butchering Scam Case
GateEx is a scam organization that deploys a perfect, classical, sophisticated, and successful pig butchering scheme with romance tactics to steal funds from its victims. Gate Ex developed and owned a sham online investment platform as a crucial tool in its fraud scheme. The scheme was for the scammer to pretend to be a consultant so that the scammer was not part of the Gate EX organization and invited her victim to trade with her. Imprimis, the scammer schemed to steal victims’ funds with a managed trading crash. Since the online platform was under the scammer’s control, she could cause a trading crash to steal the funds from her victim, which looked like a normal trading event for her victims. After the trading crash, the scheme was for the scammer to encourage the victim to put in more funds, trade, and recover the funds as much as possible. Eventually, the scammer found a reason to confiscate the victim’s funds that survived the trading crashes. The victims lost their entire funds.
The scammers included Wen Zhang, her aunt from her father’s side, and her aunt’s husband Dong Liu. Wen Zhang and her aunt work for AccuLogic Technologies, and they used the consultant firm AccuLogic Technologies, Inc., as a cover for their criminal conduct.
Develop long-term relationships with targets on social media and gain the target’s trusted relationships with the following facts:
a) Canadian driver’s license of Wen Zhang.
Driver’s Licence and Services Card
British Columbia CAN
Zhang, Wen
DL:9526273
Issued: 2020-Nov-20
Expires: 2025-Nov-20
DOB: 1986-Sep-05
Restrictions/Endorsements: 21
Class: 5
Wt: 60.0 Kg
Hi: 168 cm
Sex: F
Eyes: BLK
Hair: BLK
100 Park Royal S #1001
West Vancouver, BC V7T 1A2, CANADA
b) Wen Zhang’s profile on ca.linkedin.com in September 2022:
https://ca.linkedin.com › wen-zhang…
wen zhang – Human Resources Manager – Acculogic Technologies Inc Vancouver, British
Columbia, Canada ·
I used to be a programmer familiar with C/C, proficient in The Linux operating system
environment, familiar with the Linux operating system platform development.
c) According to SCAMVOID.NET (https://www.scamvoid.net,) all GateEx websites have very
low traffic volume, one of the symptoms for fraud platforms.
d) GateEx and the scammer have not registered with the Canadian Ontario Securities
Commission (OSC); therefore, they did not engage in securities trading legally. GateEx
exists in OSC’s warning list. See the warning note below and on the following link:
https://www.osc.ca/en/investors/warnings/gate-ex
As part of the Ontario Securities Commission’s (OSC) mandate to protect investors and
the integrity of our markets, we issue investor warnings and alerts. Investor warnings
caution the public about individuals or companies that may pose a risk to investors.
The OSC has issued an investor warning with the following information:
Name: Gate EX
Date: August 17, 2023
Addresses: City:
Country:
Other Names Used: Gate EX, found at
Additional Information: http://www.gateexprop.com,
http://www.gateexprou.com,
http://www.gateexproq.com,
http://www.gateexpror.com,
http://www.gateexpros.com and
http://www.gateexprot.com is not registered in Ontario to
engage in the business of trading in securities.
If you have been approached by the individual or company above, contact us
immediately. Please also contact us if you are approached by anyone who is not
registered.