Gallen Capital is a foreign exchange broker that was registered in Saint Vincent and the Grenadines on October 14, 2021. It primarily offers financial trading services to investors, including forex, precious metals, energy, indices, and stocks. The broker has a branch in Zurich. The Gallen Capital official website supports multiple languages, including English, Chinese, Vietnamese, Indonesian, Malay, French, Dutch, Japanese, Korean, Spanish, Portuguese, and Russian. However, it does not accept customers from certain countries/regions, including the United States, Hong Kong, and North Korea.
Company Background and Regulatory Status:
According to information available on its official website, Gallen Capital is registered with the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) under the entity name "Gallen Capital International LTD." The company's registered address is Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and the Grenadines. This entity follows all subjects not prohibited by the International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and the Grenadines in 2009. This includes various business, financial, lending, trading, service activities, participation in other companies, and providing brokerage, training, and account management services for currency, commodities, indices, contracts for difference, and leveraged financial instruments.
It is verified that there is an entity named Gallen Capital International LTD with a license number 26492 under SVGFSA. However, the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) does not regulate, supervise, monitor, or license business companies (BCs) engaged in forex trading or brokerage activities. Their regulatory scope is limited to ensuring that BCs comply with the obligations specified under the International Business Companies (Amendment and Consolidation) Act, Chapter 149 of 2009. Therefore, the forex trading and brokerage activities conducted by this entity are unregulated.
Account Opening:
To open an account with Gallen Capital, users need to register on their official website. However, there seems to be an issue with password setting on the registration page, and specific error messages are not provided.
Account Types:
Gallen Capital offers three different types of trading accounts: Fixed Account, Standard Account, and ECN Account. Additionally, the broker provides Islamic Trading Accounts and MAM/PAMM Accounts.
- Fixed Account: Minimum deposit of $100, maximum leverage of 1:500, minimum trade size of 0.01 lots, fixed spread of 3 pips, no trading commissions, stop-out level at 30%, account currency in USD, and the option for instant or market execution.
- Standard Account: Minimum deposit of $100, maximum leverage of 1:500, minimum trade size of 0.01 lots, variable spreads starting from 1.3 pips, no trading commissions, stop-out level at 50%, account currency in USD, and the option for instant or market execution.
- ECN Account: Minimum deposit of $200, maximum leverage of 1:200, minimum trade size of 0.01 lots, variable spreads starting from 0 pips, $2.5 per lot trading commission, stop-out level at 50%, account currency in USD, and market execution.
Trading Platforms:
Gallen Capital offers the MT4 and MT5 trading platforms, including desktop and mobile versions. The information about this broker on the MT4 platform cannot be verified, but it can be found on the MT5 platform.
Deposits and Withdrawals:
Gallen Capital supports various payment methods for deposits and withdrawals, including Visa, MasterCard, Skrill, Neteller, Fasapay, blockchain, bank wire transfers, and local bank transfers.
Summary:
Gallen Capital warns investors that the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) only regulates activities such as banking, insurance, or mutual funds and does not regulate forex margin trading activities or issue forex licenses. Therefore, Gallen Capital's forex trading and brokerage activities are unregulated at this time.
This broker is currently marked as "suspicious" on Traderknows.
