GrayScale Forex is a forex broker officially registered on January 3, 2024, mainly providing investors with trading services for financial derivatives such as forex, commodities, indices, cryptocurrencies, and futures. However, the physical address of the company's headquarters is unknown. This broker does not offer services to jurisdictions that may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
The “Law Requests Policy” page on the GrayScale Forex official website shows that its registered entity is Grayscale Forex Global Ltd, and the "Regulation" section indicates that this broker is authorized and regulated by the Seychelles Financial Services Authority (FSA). Additionally, the broker’s website’s "Help Centre" page refers to three financial regulators: the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (FMA), and the Vanuatu Financial Services Commission (VFSC), but does not mention whether it has obtained regulation from them.
Upon investigation, the Australian Securities and Investments Commission (ASIC), the New Zealand Financial Markets Authority (FMA), the Vanuatu Financial Services Commission (VFSC), and the Seychelles Financial Services Authority (FSA) did not have any record of a broker or a corporate entity named GrayScale Forex or Grayscale Forex Global Ltd. Hence, the authenticity of this broker's registered entity is questionable, and it is suspected of making false promotional claims to mislead investors.
Account Opening:
To open an account with GrayScale Forex: visit the broker's official site, click “START TRADING” on the homepage to reach the account registration page, fill in the requested details such as name, gender, email, set a password and submit. Once submitted, the account will be successfully registered and automatically redirected to the login page.
Account Information:
GrayScale Forex offers a standard account with maximum trading leverage of 1:500, starting from 1 pip spread, and provides trading tools such as 60 currency pairs, 16 commodities including metals, and 16 major indices such as the FTSE 100, S&P/ASX 200, and Dow Jones. It supports 10 base currencies including USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
Trading Platform:
The GrayScale Forex official website claims to provide the MT5 trading platform. However, the MT5 platform does not feature a broker named GrayScale Forex, and searches using the broker's domain name reveal that it can only link existing trading accounts but is unable to open new real or demo trading accounts.
Deposits and Withdrawals:
GrayScale Forex supports deposits and withdrawals through credit/debit cards, Skrill, wire transfer, Neteller, FasaPay, China UnionPay, Bpay, and internal account transfers.
Summary:
Traderknows advises investors that GrayScale Forex is an unregulated forex broker. Traderknows recommends investors to choose brokers with transparent information, strong regulation, and a good reputation for their investment activities to avoid unnecessary financial losses.
Currently, this broker is labeled as "suspected fraud" on Traderknows.
