GrapheneFX review – 5 things you should know about graphenefx.com

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Beware! GrapheneFX is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

GrapheneFX is a rare type of shady broker that has really tried to conceal its suspicious nature. This is definitely an issue, because even we, with our years of experience, could not distinguish it from the pack. However, with some time, a couple of indicative elements started popping up, while incongruous patters seemed to hold the whole thing together. In the end, we cracked the code, and were able to retract what is most necessary for this review. Please read the review before you invest for, as you shall see, it is something that you will regret in the end.

And we are off to a very shady start. We had not way to register. Let us explain. During the short and limited registration procedure, the last thing the broker asks for is a verification code. This code we could not receive due to the fact that we had no way to apply to get it. This is a common move on the part of an offshore broker. They give these codes only to those users they feel like will deposit. All the others are useless!

Meanwhile, we are left with quoting the website with all of the following trading conditions, and later on, payment ones.

The average EUR/USD cost of trade is indicated as being 1 pip or 0.1 pip, depending on the account type. In our experience scammer brokers, most of them, don’t offer account types. They just leave you hanging with whatever trading conditions they REALLY offer.

The leverage cap is said to be 1:200, while the tradeable instruments are forex currency pairs, crypto coins, stocks, indices, and commodities. However, we saw somewhere a different leverage claim, this one stating that the cap is at 1:500. So, in reality, we don’t know what the leverage really is!

Again, we have to say that the trading info is not 100% accurate!

The website of GrapheneFX can be accessed only in English only.

GRAPHENEFX REGULATION AND SAFETY OF FUNDS

The regulatory claims issued by GrapheneFX couldn’t be further from the truth.

We learn that the broker has branches in both the UK and South Africa, while also being incorporated in Saint Vincent and the Grenadines. Moreover, the terms and conditions reveal that the broker is regulated in Belize by the International Financial Services Commission (IFSC).

The Saint Vincent and the Grenadines certificate of incorporation is not proof that the broker offer legit FX trading services. Moreover, the nations FSA or Financial Services Authority, does not issue licenses to wanna-be brokers. All registered FX and CFD brokers in Saint Vincent and the Grenadines are unregulated there. And so is GrapheneFX.

As for the UK and South Africa predicament, we can say with certainty that GrapheneFX is not regulated in neither of these countries. There is no proof of this!

Last but not least, the alleged Belize license. Well, we checked with the regulator and found nothing, as in no search results for GrapheneFX in the IFSC’s database of licensed entities.

Therefore, GrapheneFX is UNLICENSED, and a risk to all traders!

Always go for FCA or CySEC regulated entities when you have the chance. On the other side of the spectrum, never invest in unregulated brokers, for they will take all your money and never return it. License issuers employ an array of rules and restrictions to keep all their brokers docile. Moreover, overseers are capable of penalizing brokers by applying a plethora of different fines. Moreover, some regulators, most notably the FCA and CySEC, offer compensation schemes applicable to users whose regulated brokers cannot pay them back. CySEC offers a €20 000 refund amount per person, while the FCA guarantees up to £85 000.

GRAPHENEFX TRADING SOFTWARE

Somehow, the broker was able to acquire an MT4. We don’t know how this is possible, but scammers have their ways of getting around certain restrictions. Nevertheless, the inclusion of the MT4 is in no way a sign that one should trust this unlicensed broker!

GRAPHENEFX DEPOSIT/WITHDRAW METHODS AND FEES

According to the website, the minimum deposit requirement is $100.

We were barely able to get a hold of some vague payment methods: credit cards, debit cards, e-wallets, and wire transfer. Although we cannot confirm these to be accurate.

As for withdrawals, there is literally nothing we say about them. All we can add is that scammer brokers don’t process withdrawals. Read the last two sections of the review for more.

Despite the good looks and the supposed sport sponsorships, GrapheneFX is nothing more than a liar and a scam! Do not waste your money and time with it!

How does the scam work?

The ironic thing about the scam is that it is very simple to deconstruct.

It all starts with users being persuaded by fake ads that lead to either a scammer broker site or an intermediary website.

Either source will require a phone number or email address by means of which the scammer will contact the user.

The other side of the line will be a representative of the unregulated broker/investment scam asking for a preliminary deposit, one that will open the user up for more investments in the future.

If the client deposits this first sum, then she has fallen into the trap, and will never see her money back.

What follows, is a second wave of much more persuasive scammers whose job is to charm their way through the users’ funds by asking for more deposits. They will promise you huge returns, and probably have proof of the client accumulating profit, but they will never encourage withdrawals.

Once the user wishes to withdraw the reps of the scam will do everything in their power not to allow the user to do so. The excuse/tactics are many: shutting the website, closing down the account, stalling, not answering the client, etc…

It’s only then that you will realize you have fallen victim to an investment scam.

What to do if scammed?

File for a chargeback! Unfortunately, this only applies to cases where a user has deposited via a credit or debit card. Do note that MasterCard and VISA have a chargeback period of 540 days.

If money was invested, and lost, through a wire transfer, then the user should change her user name and password on her bank account. Then the defrauded client should contact the bak and try to find a solution together to the problem.

As for funds lost through cryptocurrency-related deposits, well, they cannot be brought back, unless the scammers themselves decide to.

There remains another threat in the form of the so-called recovery agents who promise to return all lost funds in exchange for a service fee. This commission is, of course, non-refundable, and once it is paid, the user will never hear from these second-hand scammers ever again.

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