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The WikiFX Score of this broker is reduced because of too many complaints!

GHC

Australia|5-10 years|
White label MT4|Regional Brokers|Australia Appointed Representative(AR) Revoked|Suspicious Overrun|High potential risk|

https://www.ghc-trade.com/en/index.html

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
GlobalHoldings-Demo MT4
Server Location Singapore

Contact

customerservice@ghctrade.com
https://www.ghc-trade.com/en/index.html
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Broker Information

More

Company Name

GLOBAL HOLDINGS CAPITAL PTY LTD

Company Abbreviation

GHC

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 7
Previous Detection : 2024-06-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 90 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • AustraliaASIC (license number: 001275009) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • New ZealandFSPR (license number: 591349) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • VanuatuVFSC (license number: 700428) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by New Zealand FSPR(license number: 591349)Financial Service Providers Register Non-Forex License. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 700428 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

GHC · WikiFX Survey

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Pyramid scheme complaint
Expose

    GHC · Company Summary

    Aspect Information
    Registered Country/Area Australia
    Company Name GHCTrade
    Regulation Unregulated (Described as a scam)
    Minimum Deposit $2,000
    Maximum Leverage Up to 1:400
    Spreads EUR/USD: 1.4 pips (Relatively high)
    Trading Platforms MetaTrader 4 (MT4)
    Tradable Assets Forex, Stocks, Commodities
    Account Types Standard, Demo
    Demo Account Available
    Customer Support Limited contact options
    Payment Methods Credit/Debit Cards, Wire Transfers, E-wallets (Specifics not provided)
    Educational Tools None provided

    General Information

    The GHC Group: The trading name GHC, its logo, trademark and website www.ghc-trade.com belong to GHC GLOBAL HOLDINGS CAPITAL LIMITED (New Zealand) NZBN: 9429041056561 (Trade name: Global Holdings Capital Limited), which is incorporated under the laws of New Zealand and register by the Financial Service Providers (FSP) FSPR: FSP591349 in New Zealand.

    Other associated companies in the GHC Group include: GLOBAL HOLDINGS CAPITAL LIMITED (Vanuatu), located at Govant Building, Kumul Highway, 1st Floor, PortVila, Vanuatu, registered and regulated under the Vanuatu Financial Services Commission (VFSC), with Regulatory License No.700428.

    GHCTrade presents a deeply concerning profile marked by unregulated operations, a hefty $2,000 minimum deposit requirement, and a reputation tarnished by allegations of being a scam in a review. Offering up to 1:400 leverage with relatively high spreads, particularly on EUR/USD, this broker employs the MetaTrader 4 platform but fails to provide crucial educational resources. Moreover, its limited customer support options and reported website downtime add to the apprehension surrounding GHCTrade, making it an exceptionally risky choice for traders, necessitating utmost caution and a strong preference for regulated and reputable alternatives.

    GHC

    Regulation

    Unregulated.

    GHCTrade's lack of regulation is a major concern. Unregulated brokers like GHCTrade operate without oversight, which poses several risks:

    1. No Oversight: Unregulated brokers lack oversight from financial authorities, leading to potential unfair practices.

    2. Higher Scam Risk: Unregulated brokers may engage in fraudulent activities, increasing the risk of scams.

    3. Limited Protection: Clients have limited protection without regulatory mechanisms like compensation funds.

    4. Opaque Operations: Unregulated brokers may lack transparency in their operations.

    5. Higher Risk Profile: Trading with unregulated brokers is inherently riskier.

    In summary, GHCTrade's lack of regulation raises concerns about safety and credibility, and traders should prioritize regulated brokers for added security.

    regulation
    regulation
    regulation

    Pros and Cons

    GHCTrade offers a variety of market instruments and provides access to the MetaTrader 4 platform, known for its user-friendly interface. Traders can utilize a maximum leverage of 1:400 and choose between Standard and Demo accounts. However, caution is advised as GHCTrade has been described as a scam scheme in a review. The broker imposes relatively high spreads on currency pairs, and the minimum deposit requirement is $2000. Additionally, GHCTrade lacks educational resources and offers limited customer support options. Traders should exercise discretion when considering this broker and prioritize reputable and regulated alternatives for their trading needs.

    Pros Cons
    • Variety of market instruments
    • Described as a scam scheme in a review
    • Access to MetaTrader 4 platform
    • Relatively high spreads on currency pairs
    • Maximum leverage of 1:400
    • Minimum deposit requirement of $2000
    • Standard and Demo account options
    • Lack of educational resources
    • Limited customer support options

    Market Instruments

    Tradable financial instruments available on GHC platform include forex instruments, gold and metals, commodities and oil.

    Forex (Foreign Exchange): GHCTrade allows traders to participate in the Forex market. This includes the trading of currency pairs, such as EUR/USD, EUR/GBP, USD/CHF, EUR/JPY, GBP/USD, and USD/JPY. However, it's important to note that the minimal spread for the EUR/USD pair is mentioned as 1.4 pips, which is relatively high compared to regulated brokers. High spreads can impact trading costs and profitability.

    Stocks: GHCTrade is said to provide access to stock trading as one of its trading instruments. However, the review does not offer specific details about the stocks available for trading on the platform. It's possible that they offer a range of stocks from various global markets, but specific information is not provided.

    Commodities: GHCTrade may offer commodities for trading, although the review does not provide detailed information about the specific commodities available. Typical commodities traded in financial markets include precious metals like gold and silver, energy resources like oil and natural gas, agricultural products, and more. Traders often use commodities for diversification and as a hedge against inflation.

    Minimum Deposit

    GHC offers three different types of accounts for investors, namely Classic (minimum initial deposit amount of $2,000), Gold and VIP accounts. The accepted currencies for these accounts are USD, EUR, GBP, and CHF.

    Leverage

    GHC, as a typical Austrlia broker, offers up to 1:400 in leverage. However, keep in mind that the higher the leverage, the greater the risk. Leverage can magnify both profits and losses in trading, so it's important for traders to use it with caution and have a good understanding of how it works. While higher leverage can potentially lead to higher returns, it also increases the risk of significant losses, especially in volatile markets. Traders should always consider their risk tolerance and use leverage judiciously to manage their positions effectively.

    leverage

    Spreads & Commissions

    The spreads on GHC's Classic account fluctuate between 1.4 pips and 3.0 pips, depending on market conditions. Gold accounts have fixed spreads between 2.0 pips and 2.5 pips, independent of market movements, and VIP accounts offer investors the quite low spreads.

    Trading Platforms

    GHC offers traders the most popular MT4 trading platform available today. MT4 offers an easy-to-use interface, rich charts, and a large number of technical indicators. Most importantly, the MQL language allows users to easily customize and manage each technical indicator while allowing automated trading programs (EA) to run, allowing investors to automatically trade programs set up on their computers 24 hours a day, every business day that the Forex market is open. In addition, GHC also offers a trading platform for physical foreign currencies.

    Key Features of MetaTrader 4 (MT4):

    1. Advanced Charting: MT4 offers advanced charting tools, including various timeframes, technical indicators, and drawing tools. Traders can customize their charts to analyze price movements effectively.

    2. Automated Trading: One of MT4's standout features is its support for automated trading through Expert Advisors (EAs). Traders can develop or purchase EAs to execute trading strategies automatically based on predefined criteria.

    3. Market Analysis: Traders can access real-time market news and analysis directly from the MT4 platform. This information can help inform trading decisions and keep traders updated on market developments.

    4. User-Friendly Interface: MT4's intuitive interface makes it accessible for traders of all experience levels. It allows for easy order placement, modification, and execution.

    5. Mobile Trading: GHCTrade's MT4 platform likely offers mobile trading capabilities, enabling traders to monitor and manage their positions from smartphones or tablets.

    trading-platform

    Deposit and Withdrawal

    Deposit with GHCTrade:

    • GHCTrade requires a minimum deposit of $2000 for traders to open an account.

    • Available deposit methods may include Credit/Debit cards, Wire Transfers, and e-wallets, although specific details are not confirmed.

    • The broker may charge deposit fees, with fees specified for different methods, such as a percentage fee for bank card deposits, a fixed fee for wire transfers, and a percentage fee for e-wallets.

    Withdrawal with GHCTrade:

    • The minimum withdrawal amount is $50.

    • Withdrawal requests may have a processing time of up to 3-5 days.

    • While the review does not mention withdrawal fees, it suggests that the broker charges deposit fees, although there is a contradiction in the information.

    Please note that GHCTrade is described as a scam scheme in the review, so it is crucial to exercise caution and avoid this broker. When considering a broker for your trading needs, prioritize reputable and regulated brokers to ensure transparent and secure deposit and withdrawal processes. Always conduct thorough research and verify the legitimacy of a broker before depositing funds or trading with them.

    Customer Support

    Customer support at GHCTrade, as reported, leaves much to be desired. The provided email address, customerservice@ghctrade.com, is one of the few contact options listed, and it reflects the broker's lack of commitment to transparent and accessible support.

    One of the notable issues is the absence of a dedicated customer support phone number, which is a common and convenient means of communication for traders seeking immediate assistance. The lack of such a basic and direct contact method raises concerns about the broker's accessibility and responsiveness to client inquiries.

    Furthermore, the review doesn't mention live chat support as an option, which is another standard feature offered by reputable brokers to provide real-time assistance to their clients. The absence of live chat further limits the avenues available for traders to get timely answers to their questions or resolve issues promptly.

    Overall, the limited contact options and the absence of essential support features raise doubts about GHCTrade's commitment to providing adequate customer support. Traders should be cautious when dealing with brokers that do not prioritize responsive and accessible customer service, as it can lead to frustration and delays in addressing trading-related concerns.

    Educational Resources

    GHCTrade's lack of educational resources is a significant drawback for traders. The absence of tutorials, courses, and informational content means traders miss opportunities for skill development and market understanding. It can lead to uninformed trading decisions, increased risk, and a competitive disadvantage compared to brokers offering comprehensive educational materials.

    Summary

    GHCTrade is a broker that offers a variety of market instruments, including Forex, stocks, and commodities. However, it has been described as a scam scheme, and caution is advised when considering this broker. GHCTrade provides two types of trading accounts: Standard Accounts and Demo Accounts. The broker offers a maximum trading leverage of 1:400, which can amplify both profits and losses. Spreads and commissions may vary depending on the type of trading account. The minimum deposit requirement is $2000, and withdrawal requests may have a processing time of up to 3-5 days. GHCTrade uses the MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features. Customer support options are limited, with no dedicated phone number or live chat mentioned. The absence of educational resources is a significant drawback for traders seeking to enhance their knowledge and skills. Due to its scam allegations, it is advisable to avoid GHCTrade and choose reputable and regulated brokers for trading activities.

    FAQs

    Q1: Is GHCTrade a reliable broker for trading?

    A1: No, GHCTrade has been described as an exposed scam scheme in a review. It is strongly advised to avoid this broker.

    Q2: What is the minimum deposit required to open a Standard Account with GHCTrade?

    A2: The minimum deposit for a Standard Account with GHCTrade is $2000.

    Q3: Does GHCTrade offer educational resources for traders?

    A3: No, GHCTrade does not provide any educational resources or materials for traders to enhance their knowledge and skills.

    Q4: What is the maximum trading leverage offered by GHCTrade?

    A4: GHCTrade offers a maximum trading leverage of 1:400, which can amplify both profits and losses.

    Q5: What trading platform does GHCTrade use?

    A5: GHCTrade uses the MetaTrader 4 (MT4) trading platform, known for its user-friendly interface and advanced features. However, traders should exercise caution due to the broker's scam allegations.

    User Reviews

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    Write a review

    FX1523321833
    more than one year
    I started with these guys a while back, when I was still getting my bearings in trading. Since then, I've learned a thing or two. Back then, the $2000 entry point didn't phase me. But those high trading fees? Man, they're guaranteed to eat into your finances. If you value your cash, stay wary. And don't even get me started on their customer support. It's like hollering into the void - no response, no help, nothing, nada, zip. So from one trader to another, think twice before stepping into GHC Trade territory.
    2023-11-17 17:40
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