Broker Review

Unauthorised Firm Details

Name: GLFX (GLFX Limited)
Website: glfxlimited.com

GLFX claims to be a UK-based Forex/CFD broker with offices also in Dubai and elsewhere. It offers high leverage (reports up to 1:888), over 50 currency pairs, CFDs on precious metals, energies and indices, MT5 platform, relatively low minimum deposits (from ~$150), and some account options called Micro, Mini, Standard. On paper it looks like a typical high-leverage FX/CFD broker appealing to traders who want fast access to many markets.

However, evidence suggests GLFX may be an unsafe or outright fraudulent operation:

• GLFX is not registered with the UK’s FCA despite claiming a UK address. Checks in FCA registry found no authorization.

• It also claims a Dubai office, but both DFSA (Dubai) and UAE’s SCA show no record of regulation/licensing for GLFX.

• Review sites like BrokersView explicitly classify GLFX as a scam. They say it appears to be operating illegally.

• WikiFX, a broker-rating aggregator, gives very low trust scores and flags it as “No Regulation – Please be aware of risk.”

• Multiple public user complaints describe problems with withdrawals or suspicious delays after deposits.

Bottom line: GLFX shows enough trouble signs that it should be treated as high risk. If you are considering using them, do not deposit more than you can afford to lose, test with minimal amounts, and document all interactions carefully.