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GreatchainFX

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Operating status: SCAM

Website: https://greatchainfx.net/; http://www.greatchainfx.com/

Broker violations and abnormal records
  • 2023-08-08 The UK FCA issues a warning against GreatchainFX

    On August 9, 2023, the Financial Conduct Authority (FCA) issued a warning against GreatchainFX, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/greatchainfx

    On August 9, 2023, the Financial Conduct Authority (FCA) issued a warning against GreatchainFX, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/greatchainfx
  • 2023-08-10 BrokersView has reviewed that GreatchainFX is an unregulated broker

    GreatchainFX uses a certificate from FMRRC to appear legal. However, the so-called FMRRC is not a legit financial watchdog.

    While GreatchainFX claims to be headquartered in the UK, it fails to seek the required authorization from the Financial Conduct Authority (FCA) to legally provide financial products/services, as evidenced by the warning out of the FCA against GreatchainFX.

    In essence, GreatchainFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    GreatchainFX uses a certificate from FMRRC to appear legal. However, the so-called FMRRC is not a legit financial watchdog.While GreatchainFX claims to be headquartered in the UK, it fails to seek the required authorization from the Financial Conduct Authority (FCA) to legally provide financial products/services, as evidenced by the warning out of the FCA against GreatchainFX.In essence, GreatchainFX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

Is GreatchainFX regulated?? Im really confused.

Lara Singh
Dominica
2023-09-06
ANSWER GreatchainFX is not regulated.GreatchainFX provides a certificate from FMRRC to appear legal. However, the so-called FMRRC is not a legit financial watchdog.GreatchainFX is allegedly headquartered in the UK, but there are no indications that it is registered with the Financial Conduct Authority (FCA), which, hence, drew a warning from the UK financial watchdog. According to the FCA warning, GreatchainFX is not authorized to legally provide financial products or services in this jurisdiction.As such, we strongly suggest investors steer clear of the unlicensed broker GreatchainFX. Without regulatory oversight, there are no rules in place to prevent fraud and theft. Traders' money and personal information, once held by the platform, will not get protected. It could be financially and personally devastating. To mitigate such risks, we highly recommend choosing a fully regulated broker.
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