GrahamFE
A Banned Broker with Cloned Details
Contradictory Ownership
GrahamFE is owned by GrahamFE Fin Services Limited as per the footer at the website of GrahamFE. The address of the company is believed to be 1421 Sofia City, Sofia District, Bulgaria Lozenet, Bolgard No. 5.
This address belongs to a home in Bulgaria. No company or business is associated or registered with this address.
The second ownership is in the terms and conditions policy of the company. It states that the company is owned by Elit Property Vision Limited. The address is stated to be 1574, Sofia RA, Hristo Smirnenski,112 Geo Milev Street, Partner floor, office 1.
GrahamFE is owned by 2 companies with different names and with different addresses. This is a pure case of tantamount origin, which is not possible. Thus, nothing safe about the origin of the company can be drawn to close.
No Regulation by FSC
The Financial Supervision Commission (FSC) of Bulgaria is the financial regulatory authority of the region. It is responsible for the regulation and the control of the different types of markets, insurance, capital market, and other institutions. GrahamFE states that it belongs to Bulgaria but is not registered with the Bulgarian Financial Supervision Commission. You can check the links in the references section to see the regulating authority’s list
The company still has the most barefaced approach in its terms and conditions policy. To stooge the traders, it has mentioned that it is under the jurisdiction of the Bulgarian Laws. The reiteration of the company is not regulated by any of the reputed governing agencies to make the traders aware of the fake policies adopted by the company.
Multiple Warnings from Reputed Authorities
Warning by FMA
The respectable Financial Market Authority of Austria (FMA) has the right to provide regulation to the financial service providers in Austria. The FMA has released a warning against any type of dealings with the GrahamFE due to its illegal services in Austria. Such an admonitory is the exemplification of the malpractices of the company.
CONSOB Warning
The Italian financial regulation authority, the Commissione Nazionale per le Societa e la Borsa holds the right to regulate the financial markets and the exchanges of the region. The CONSOB has issued a warning against dealing with the GrahamFE due to its unregistered services in the region. The company does not have any judicial rights to provide its services in the region.
DFSA Warning
The financial regulating agency of the special economic zone of Dubai has issued a red flag against GrahamFE. The Dubai Financial Services Authority (DFSA) has listed the company operating from Spain, which is not entitled to provide its services to the region without the regulation of the company.
CNMV Warning
The National Securities Markets Commission of Spain i.e. the Comision Nacional del Mercado de is the independent agency that works under the Spanish government. It has raised a red flag against GrahamFE and banned it against providing any type of services to the customers from Spain. The company is not authorized to provide the services in the region.
FSMA Warning
The financial regulating agency of Belgium, the Financial Services and Markets Authority (FSMA) has also agreed to the investigation of the CNMV and has mentioned on its website about the non-regulation of the company GrahamFE in Belgium.
Warning of Criminal Activity by BaFin
The bad character of the company is again verified by the warning of criminal activities going over the platform of GrahamFE. This time, the warning was released by the Federation Financial Supervisory Authority of Germany, the BaFin. It has mentioned that the services have ceased due to the unlawful activities going on in the company.
It is not once, twice, but six times that reputed financial regulation agencies around the globe have issued warnings against the GrahamFE. It is an unregulated, badly reputed offshore broker. Any type of dealing leads the traders to gripe over the services of the GrahamFE and sadistically, no regulatory body will be at the help of the traders.
Services and Trading Accounts
The company is into CFDs and forex trading. It has 6 types of high-charging trading accounts. No information is provided about the withdrawal and the deposit limits, the fee associated with the same, and the channels of payment.
- Micro Account: It is the basic account of the company which requires a minimum initial deposit of $500. It is 10 times higher than the standard deposit requirements. The leverage is believed to be 1:200
- Mini Account: It starts with a minimum deposit of $2,500. While the leverage remains the same, there is no difference between the micro account and the min account provided by the company. The trade margin can be best understood once you have the account.
- Silver Account: A minimum deposit of $10,000 with the same leverage and a personal account manager is provided. Little can be assured about the skill and experience of the manager.
- Gold Account: Nothing much to offer other than the high initial minimum deposit raised to $50,000. This is the amount that traders think of earning not investing.
- Diamond Account: The leverage is raised to 1:300 and it starts with the gigantic amount of $250,000 as a minimum deposit. This is a very high deposit requirement when you compare it with the facilities you get with it.
- VIP Account: The leverage is committed to being 1:400 which is never realized. The minimum amount to open the account is $500,000
The Long list of Absent Fundamentals
Unknown Trading Platform
GrahamFE does not support the popular and trusted MetaTrader as its trading platform. The company has its own trading platform which is not reliable and secure as well. The spreads and the leverages are not mentioned over the platform. The trading platform is thus cumbersome and not trustworthy at all. The online trading platform is not available for downloads.
The Meta Trader on contrary provides analytical methods, automated trading signals, and even free demo accounts for the facility of the traders.
No Demo Accounts
The company does not have the provision of a free demo account. It only provides live accounts with high initial deposits. It is thus not safe to trade with an offshore broker without actually judging the waters. The skillset and the type of trading services along with the trading conditions can be best understood using a demo account with risk of money loss.
Similar post: Mt. Cook Financial
A demo account while acts as a dummy text for the newcomers to help him to understand the trading environment. For a professional trader, a demo account is key to understanding the highs and lows of the market. The trades through a demo account thus helps in judging the right strategy to be implemented at the right time.
No Show of Customer Support
There is no provision of live technical support from the company in the form of live chats, various locations’ phone numbers, or dedicated email-ids. A single email-id and a UK based number are provided. The trading platform is of the company, and there is no way by which a trader can get quick and reliable support on any busy trading day.
Strong and trusted customer support is the backbone of any of the service industry. It must be understood that if the traders are not getting the proper technical help in the execution of the trades, they will not prefer to cling to the company.
No Presence on Social Media
Like other essentials, GrahamFE is not available on any of the social media as well. There are no active accounts on Facebook, Twitter, etc. This is the lack of a sense of connectivity to the company. There would be a storm of negative responses from the trader’s side, which is right now, struggling to write their bad experiences with GrahamFE.
Skrill is Absent
The non-provision of Skrill as a method of payment adds to the worries of the traders. It is one of the easiest methods to use for digital funds transfers. But, Skrill has stopped working with the unregulated offshore brokers.
Conclusion
It has been banned by a large number of financial invigilators. It has missed the basic facilities of the traders. The compromise on the trading platforms, the quality of the trading accounts invoking high minimum deposits with no reliable sources of connectivity to the team is highly dangerous. It is not recommended to deal with GrahamFE!
- https://www.fsc.bg/en/search
- https://www.fma.gv.at/en/grahamfe-finservices-ltd/
- https://www.consob.it/web/consob-and-its-activities/warnings?viewId=ultime_com_tutela
- https://www.dfsa.dk/News/Advarsler-fra-andre-tilsynsmyndigheder
- https://www.cnmv.es/portal/verDoc.axd?t=%7B17cbd9e8-c2b1-45ce-97dc-db706eff3e50%7D
- https://www.fsma.be/en/warnings-illegal-soliciting-savings-public-warnings-foreign-authorities-who-are-members-esma-pol
- https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2019/meldung_191206_Dachfincom_GrahamFE_en.html?nn=7858592
This company also named UltraIFX.com and will be called ExecutiveproFx.com
They are about to transform again to loose trace of their criminal work
I lost all my savings a have no hope to getting it back.
The guy called himself dale smith from South Africa
They are high profile criminals
Interpol should stop these people