Read our GCG International review carefully to see why we do NOT recommend this broker. Just to clear doubts, this is a gcginternational.net review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So GCG International is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about GCG International in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
GCG International Review Conclusions
Making the GCG International review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our GCG International review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Thanks for this….. I got suspicious when they started asking for personal identification details, and once I called my card provider I was told my payment went to lagos Nigeria. This company is 100% a scam…..avoid avoid avoid
complete scam, i told them multiple times i would have to research the company before depositing thier money and they tried thier hardest to take me to bias websites with good reviews!
PLEASE READ BEFORE YOU INVEST
I was contacted after showing interest in investing into a low risk trading account, investing a small amount on the trading market with a view to increasing funds for my retirement.
After an initial discussion with someone from GCG I decided to invest $250 to open an account and to start trading. All went well in hindsight too well, my investment had tripled with 2 weeks, and when my broker contacted me to further invest as there were trade deals which would would be more profitable although at a slightly higher risk, I decided to invest another £1000 allowing me access to start trading at the next level where I was told there was a minimum investment required of £1250.
I asked about how would I go about withdrawing funds should I ever decide to cash out and withdrawal my money and close the trading acct. After being told that I could withdrawal money at any time by going to the GCG International website and logging onto my account and then request withdrawal the funds I was reasonably happy my investment was safe.
My son was interested in investing and did some research prior to investing any money and soon contacted me to tell me to get my money out.
I immediately went onto the website an made the withdrawal application as i had been instructed to withdrawal the funds, the account was now standing at $2568.56.
This is where the problems started, this was over 2 weeks ago and I am still no closer to getting my money back, after sending emails to the finance & accounts teams at GCG & not even a courtesy reply of acknowledgement from them!
Then today out of the blue I was contacted by another broker asking how he could help me! Presumably he had been informed of my withdrawal request by the accounts team, so I explained the situation and after much towing and fro-wing, this time being told to wire $1700 to take the balance on the account to $5000 which would then allow me to pay the fees and then withdrawal the monies! Or alternatively I could wire $1000 and withdrawal the $3305.56 which is where my account is currently at. I explained I don’t have anymore money to put in and I can’t wire anything, and again I simply said to the broker please just take the fees out of the $3305.56 and transfer the balance into my bank account, could not be any simpler! WRONG AGAIN.
This time I was told it’s against the financial regulators law or something like that, which I simply didn’t understand at all. Also adding if they did that I could be liable to prosecution and so they couldn’t!! I am still fighting this and pursuing alternative ways to recover my money.
Hi I am in the exact position as Keith Moseley. I am struggling to withdraw my money and they say the only way to have my money back is by sending them 1000 – 1200 USD to connect my crypto wallet to the trading account which will enable them to transfer the money. I don’t know what to do now, can someone help please!!
Is there any way of getting help with withdrawing money from GCG International?
I was considering taking out legal action to recover the funds only to find that solicitors fees etc would be very costly and very time consuming. Like Aron I’m am still pursuing this but at each crossroads I hit a brick wall. The alleged customer service no dies not connect, the emails now just bounce back. I do have all the conversations with the brokers which were done via WhatsApp and I have copies of the emails. There must be some way of getting them to pay me what is rightfully mine, or at the very least for me to get the original investment back. Someone out there must be able to help, I have been advised to report GCG International to the finance fraud squad to investigate which I am currently in the process of doing.
I am in the same boat. I paid my fees and taxes. The money was pending to be realised. They’ve came up with a story that there isn’t enough of bitcoins to transfer into my kraken account so I have to provide them with my IBAN. I did and waited. The released payment “ bounced back” and money for taxes were added to the lump sum of my profit. They rang and asked me to pay the money again due to a regulators holding the money and taxes have to be paid upfront again. I have no idea whether the money is. I have no idea when the money will return. Their attitude to their clients is appalling, they shouted at me, sworn at me. It rather shocking! Do not trust these people if they’re actual people!
WoNi
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GCG-International ist eine Betrugsplatform!!
Dear, I am in the same position as Keith, Ronney and Aron. Is there any help to us? They want another money from me due to “dispute between the regulator and their firm working on behalf of my case”. As they claim. How can I get my money back? Who can help us?
I am in the same boat aswell I GCG owe me £2600, I manage to get back £300 as I was protected by visa, unfortunately I had paid £2300 by bank transfer to a bit coin wallet, had I paid the entire amount by visa I would have got it all back. They have an office in Luxembourg I told GCG I would come to there office to do the transfer of fees as long as the they transferred the money to my account first, they agreed initially then I never heard from them again that was about 4 weeks ago…
I too fell for this scam. Initial deposit was $250 and in the following weeks it was going quite well with good profits. They always, without being too pushy, were informing that by investing more will increase rewards. A little while later we sent through another $2500 through their selected broker. Again all was going well and I let them suggest the accounts to open or close with profits and watched the profits grow. Some of their recommendations did appear to be a strange choice but they were the experts. Then came the first crash. My funds were wiped out completely and they were trying to get me to invest $2500 again to rescue my account. I replied that you lost it so why do you need my money to repair your bad accounts. Eventually they said that my full funds will be returned due to management intervention and with the same amount placed in my account as credit to double my investment. Sounds good I thought so off went a further $2500. Again all was going well on profits but I was still doubting their wisdom on the opening of some accounts as they straight away plunged into the red and took weeks to climb back up. Then things went tits-up again and they were in a panic. We need you to invest more funds as the market has crashed nearly wiping out your account. My initial reply was that there will be no further deposits and that the accound will either sink or swim. A few days later they asked for a further $1000 and with that all my funds will be brought back to pre-crash levels. By then I was noticing a trend developing and paid the $1000 with the understanding that there will be no further funding. Then a few months later with my account standing at $16k – it crashed again and they blamed me. I refused to inject more cash as by then I was convinced it was a big scam. Unfortunately for me, I should have did a little more research and not be driven by greed and the promise of a quick buck.