GCB London review is exposing this broker. Their website is full of bold statements for an unregulated entity. We can see why they can fool visitors who don’t double-check their claims. That’s why you can’t blindly trust what you read on the internet.
You shouldn’t be ashamed if you bought their fraud. You are not the first, and not the last victim. Make sure you read this article so you can know in the future how to distinguish legit from unlicensed brokers.
License and Funds Security at GCB London
GCB London Forex brand is said to be owned by GCB London Ltd, company number 07443434. We always check these kinds of claims. This company number is connected to a legit company that has nothing to do with gcblondonltd.com.
We didn’t find GCB London’s name in the FCA’s database, but we did find that the FCA blacklisted them. You should take regulators’ warnings very seriously. It’s the strongest possible sign that a particular broker is a scam. We don’t know who’s behind the brokerage or under which legal jurisdiction it belongs.
Its trading terms directly violate the FCA regime and ESMA legislation regarding leverage limitations. According to ESMA, leverage has to be limited to 1:30 for retail traders, while broker GCB London enables up to 1:500.
Their website has been registered recently and it already has a low consumer index. Wherever we look, we only see bad signs about this trading provider. You can always turn to some of the legitimate brokers that operate from established financial hubs like the UK.
These brokers have to meet stringent requirements like negative balance protection and participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their operating funds in separate bank accounts.
GCB London Trading Platform Overview
GCB London uses a web-based trading platform as we have seen with many other scam brokers. It has simple tools but it gets the job done. It’s easy to navigate and gives a clear overview of tradable assets while enabling clients to apply several basic indicators.
However, it’s incomparable to industry-standards trading platforms – MetaTrader 4 and MetaTrader 5.
MT4 is one of the most popular platforms in the industry for a reason – it offers a ton of useful features but it is also fairly easy to use.
From Expert Advisors, VPSs, and opportunities for creating custom scripts to customizable signals you could set for prices going up or down – MT4 has everything a trader might need.
The developer of the software, MetaQuotes, is also quite dedicated to it – meaningful tools are added to MT5 quite often. Most recently, a new tool was introduced, which allows the trader to quickly get a series of graphs that represent the track of their performance over time, as well as one of the specific trading assets.
Yet, even when offshore firms have good software, there is the chance it is being manipulated to show trading activity that is not taking place. Instead, your money is getting stolen the moment you deposit it.
Trading Instrument Available at GCB London
GCB London gives access to 5 groups of trading assets, all traded as CFDs. They are:
- Currency pairs – EUR/USD, GBP/AUD, CAD/NOK
- Commodities – gold, corn, soybeans
- Indices – DJIA, AU200, NIKKEI225
- Shares – BOA, Samsung, Societe
- Futures – SMI, Hang Seng, Nifty 50
Cryptocurrency trading is not enabled, which is a big disadvantage,
GCB London Offers Bonuses and Promotions
GCB London offers bonuses for Premium and Gold accounts that bring 50% and 70% bonuses. For that benefit, you need to deposit €100,000 or €200,000. This is a practice banned by financial regulators. Fraudsters often use supposedly generous bonuses to tie potential victims to extortionate terms and hidden fees.
Trading bonuses are an inseparable part of the offering of most scam brokers. Attractive as such promotions may seem at first sight, they always come with strings attached – a minimum turnover requirement you have to meet to be able to withdraw the bonus funds.
Usually, the trading volume requirements are so high that even highly-experienced traders will have difficulties in achieving them. But the most serious problem is that once your account is credited with a bonus, it is no longer possible to distinguish which money is made from the bonus funds and which is derived from the ones you have deposited.
GCB London Deposit and Withdrawal
GCB London claims that it offers the following deposit methods – credit or debit card, QIWI, and cryptocurrencies. The minimum deposit is €100, which isn’t a terrible offer. However, you can open an account with a legit broker for as little as $5.
Since GCB London does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfill traded volume conditions.
How Does This Scam Operate?
They will have you in a trap as soon as you let them contact you. You won’t have time to think about their offer because they are so manipulative. Even though you may be somewhat of a skeptic yourself, they know how to handle your ‘’unfounded’’ skepticism.
This is their life call and something they do daily. As soon as you want to withdraw your money, then you start to recognize the moment as a tipping point in your business relationship with GCB London.
You shouldn’t feel ashamed if they scammed you. You are not the first and surely not the last victim.
The Best Foreign Exchange Brokers
We have prepared for you several reliable brokers – FXTM, OctaFX, FP Markets, XM, HFM HF, and FBS brokers. As you can see they have incredibly high ratings. More information about them is available on their website.
They have segregated accounts, negative balance protection, and guaranteed funds. All the things GCB London does not have. Also, they have demo accounts because they genuinely care about their users.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
GCB London Summary
GCB London claims to be a UK-based regulated broker. However, we researched the FCA’s register and we didn’t find their name among regulated entities. But, we did find that the FCA blacklisted them.
After that, there is no need to discuss doing business with this broker. You should look for your trading provider elsewhere.
FAQs About GCB London Broker
Is my Money Safe with GCB London?
GCB London is an unregulated entity so you can’t trust them with handling your money. They can disappear at any time.
Does GCB London Offer a Demo Account?
GCB London doesn’t offer demo accounts. If you want to place any trades and feel the market, you must do it with your funds.
How Secure Is GCB London?
The FCA, one of the most respectable regulators, blacklisted them. There is no security with them.