Grossfield Limited presents itself as a UK-based registered company with the number 01611036. Indeed, these details appear in the country’s registers. So, why traders don’t trust this firm?
Unfortunately, all the answers are in front of our noses. Yet, most traders oversee them in their greediness for more money. Luckily, we present you with essential information in this Grossfield Limited review that will help you in the future as well.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | |
| Have Warnings from: | N/A |
| Registered in: | UK (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | WebTrader |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | €2,000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, indices, shares, commodities |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Considering misleading details, shady trading conditions, and platform, but also license absence, you can only expect trouble while withdrawing funds with this brokerage. At first glance of an issue, feel free to reach out to our experts for refund advice. |
Legal info: Is Grossfield Limited Legit Or a Scam?
Important to realize is that the company we found in the database has operated since 1982. However, the broker’s website we are analyzing was put online in October 2023. That’s the first sign this firm is not legitimate.
The second sign is a lack of regulations. If the company was truly operating in the UK, they would provide exact license details. Yet, the FCA database only holds records of the regulated company being cloned by multiple firms. By Grossfield Limited as well. To learn how to recognize frauds at first glance, read our 24k Markets review.
Who are Grossfield Limited’s Victims?
Generally, through Grossfield Limited reviews, traders might say they are legit. However, when you know they are targeting the UK without a license, you know they are not. Anyway, most of their victims who reported issues since October 2023 come from:
- Lithuania
- United Kingdom
- Ukraine
It’s just a matter of time before Grossfield Limited broker also ends up on a warning list. Luckily, you can help us with that by sharing your opinion about this firm. But also, you can contact us directly for a refund consultation if any withdrawal issues occur.
Traders Reviews
Across two different platforms, we can find quite contradictory reviews about this firm. For instance, on Sitejabber all reviews appear positive. However, on Top-Trade, the situation is opposite. To avoid guessing if you will get scammed or not, you should simply stay patient and look for another broker.
You don’t want to rush into something that has huge potential to be a fraud. But if you somehow end up there, let our refund specialists know more about your case.
Leverage, Commissions, Spreads, Fees and Taxes
Spreads starting from 0.8 pips can be quite intriguing. However, with unregulated brokers, the spreads are rarely that low. In addition to that, the company claims to have low commissions or no commissions for certain accounts. Yet, they also claim to be the main player in financial markets. But they are not.
Nevertheless, what proves the company’s scam activities is its leverage of 1:200. Yet, all UK-regulated brokers offer a maximum of up to 1:30 for retail clients. If you check our OQtime review, you will realize that every scam broker has similar leverage.
Bonuses
Another problem with this company is a lack of legal documents. This way, they prevent traders from finding out if some bonus offers are available. Anyway, Grossfield Limited account types don’t reveal any.
Grossfield Limited Trading Features
One of the main features the company promotes is trading signals. Unfortunately, trading signals rarely work. Especially if the company is not licensed. But they manage to make traders believe those signals through the shady platform.
Trading Platforms Available
Keep in mind that regulated companies often use platforms like cTrader, Meta Trader, or DAS Trader PRO. With these, you don’t have to worry about manipulation behind the scenes, primarily with spreads, leverage, and general information on your account.
However, with the web-based Grossfield Limited trading platform, all of that is highly possible.
Available Trading Assets
Unfortunately, you can’t see what assets they offer before you sign up and complete the Grossfield Limited login process. Anyway, they advertise 4 out of 5 main categories where you can expect assets like:
- Forex – USD/JPY, EUR/SEK
- Commodities – natural gas, gold
- Shares – Amazon, Tesla
- Indices – ASX200, FTSE100
Account Type
One quite surprising detail is that the company requires at least 2.000 € to get started. But in reality, they will most likely accept far less than that. Nobody would throw away 2.000 € to an unregulated broker. Anyway, the options are:
- Bronze – 2.000 €
- Silver – 5.000 €
- Gold – 20.000 €
- VIP – 100.000 €
Mobile Trading App
Requiring 100K for a deposit and not offering trusted apps is a shame. Especially when you know that some top-tier licensed firms offer those with far lower requirements. So, if you prefer mobile trading and advanced trading strategies, this broker is simply not for you.
Demo Account
To avoid getting scammed with shady platforms you should always look for companies offering demos. Indeed, with a demo account, you might get used to throwing money away. Yet, that’s not the point.
The point is to review the company’s features and find misleading details. Sadly, with this company, that’s not part of the deal.
Education
One of the huge disadvantages of this firm is a lack of educational programs. This clearly tells you how interested they are in educating their traders. After all, if traders knew everything, how would the company scam them?
Grossfield Limited Withdrawal
Of course, when it comes to Grossfield Limited’s withdrawal procedure, they will require a vast of documents for verification. Thus, they don’t provide any details about processing time, fees, or any specific clauses. Keep in mind that non-licensed brokerages often use tax or non-existent fee tricks to extort your last money.
Customer Support
Usually, support options don’t mean much nowadays without a license, either. For example, this company offers UK phone numbers and e-mail. Yet, without transparent working hours disclosed. So, if they don’t reply to you, they can simply say they are not working. But you’ll never know what they are up to.
Key Information To Consider About Grossfield Limited?
All in all, everything about Grossfield Limited scam broker is suspicious. Starting with the trading software, registration details, and conditions. Not to mention, the withdrawal policy is absolutely trash. With all the warning signs presented, you can’t expect any good experience with this firm.
Therefore, we suggest you request a withdrawal as soon as possible. In case any problems occur, you can apply for a refund on time. If you need assistance or advice, send us a direct message, and we’ll notify our refund experts so they can contact you.
FAQ Section
What is Grossfield Limited?
Grossfield Limited is a fake UK-based brokerage offering FX and CFD trading services since October 2023.
Is Grossfield Limited Legit?
No. This brokerage is not authorized by the FCA or any other top-tier regulator to provide its services anywhere.
How to Get Money Back From a Scam Broker?
Depending on the funding method, you can use different refund options. For detailed analysis and advice, feel free to contact our chargeback team.
Source:
https%3A%2F%2Fscambrokersreviews.com%2Fforex-scams%2Fgrossfield-limited-review%2F
