BS GFSTrader is a forex broker established on June 10, 2021, in Saint Vincent and the Grenadines, primarily offering financial trading services in stocks, currencies, metals, indices, commodities, and futures. Its headquarters are located in Hanoi, Vietnam. This broker does not provide services to jurisdictions where it may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
According to the official website, BS GFSTrader's registered entity in Saint Vincent and the Grenadines is BS Global Financial Services LLC, with the company's registered address at First Floor, First St. Vincent Bank Ltd. Building, James Street, Kingstown, SVG, and the registration number 1161 LLC 2021. The broker also claims to be authorized by the FCA, ASIC, and FSCA.
Upon verification, the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) lists an entity named BS Global Financial Services LLC, with the registration number 1161 LLC 2021. However, SVGFSA does not issue licenses for forex and financial derivatives, nor does it regulate them. Additionally, the broker's website does not provide registration information with the FCA, ASIC, and FSCA, and these organizations' websites do not list any information regarding this broker. Therefore, BS GFSTrader is not only unregulated but also suspected of false advertising.
Account Opening:
Attempts to open an account revealed that the broker's registration and login interfaces were inaccessible.
Account Types:
BS GFSTrader offers three types of real trading accounts to its users: CLASSIC ACCOUNT, PLATINUM ACCOUNT, and PROFESSIONAL ACCOUNT.
CLASSIC ACCOUNT:
- Maximum leverage of 1:500
- Typical spread around 1.5
- No commission
- Minimum deposit starts from 100 USD
PLATINUM ACCOUNT:
- Maximum leverage of 1:500
- Variable spreads
- No commission
- Minimum deposit starts from 5,000 USD
PROFESSIONAL ACCOUNT:
- Maximum leverage of 1:500
- Low spreads
- No commission
- 24/7 support
- Starts from 10,000 USD
Trading Platform:
BS GFSTrader offers the MT5 trading platform, provided by BS Global Financial Services LLC.
Deposits and Withdrawals:
The broker's official website does not provide information regarding deposits and withdrawals.
Conclusion:
Traderknows reminds investors that BS GFSTrader is an unregulated broker suspected of false advertising. It is recommended to choose trading platforms with strong regulation and good reputation to avoid unnecessary financial losses. Currently, this broker is marked as "Suspected Fraud" on Traderknows.
