Controversies Around GCG Asia Appear to Be Mounting

GCG Asia (guardiancapitalag.asia) claims to be a Forex and CFD broker under the management of Guardian Capital AG, a Switzerland-based company.

Trading platforms provide an avenue for buying and selling digital assets, commodities, stocks, indices, and fiat currencies. A reliable trading platform must have reliable tools and indicators, should be easy to use, and complete transactions in the shortest time possible. Guardian Capital AG provides the downloadable MT4 trading platform with a maximum leverage of 1:100.

Withdrawal and Deposit on GCG Asia

Ideally, GCG Asia could use the following methods for withdrawal and deposit on the platform:

• Visa
• Bank Wire transfer
• MasterCard

However, upon scrutiny, there is no license from Guardian Capital AG to show that GCG Asia is a partner. This implies that the platform has no proper regulatory mechanisms to ensure that they follow best practices. This, of course, is a major concern and simply shows that the project is a scam. Besides, GCG Asia claims it submits to FINMA in Switzerland for regulatory purposes but this is totally unverified. According to FINMA’s website, GCG Asia is on the warnings list.

GCG Asia Red Flags

No license, despite the claims

Without a valid license from an authorized body, it’s easy to conclude that GCG Asia is a scam. Many unregulated businesses, especially those with false information, are often engaged in some kind of fraudulent activities.

GCG Asia also claims to offer negative balance protection and client insurance fund to the tune of 2.5 million Euros, free to all its clients. However, without a valid license, these are simply additional false claims.

Blacklisted by FINMA

The Switzerland-based financial markets and services regulator FINMA has blacklisted GCG Asia and all the activities associated with it. This is another red flag for the broker.

In addition, GCG Asia does not reveal any trading conditions on its website. Therefore, no one can verify its spreads, minimum and maximum investment requirement, or the leverage it provides.