Gulf Brokers

Gulf Brokers is a very dangerous scam! Do not fall for their tricks. Many customers have reported their experiences on Holysmoke!, read here.
3.1/10 (Expert Score)
Product is rated as #27 in category Business

Gulf Brokers is an offshore broker, based and authorized in Seychelles. Its offer comes with a single account type, leverage of up to 1:500, and the MetaTrader5 platform. You may find more information about their trading conditions and regulatory status in the following review.  

Account typeMin. depositMax. leverageSpreads
Standard Account$5001:5003 pips

Might Not Be So Bad

Gulf Brokers Advantages:

Leverage of up to 1:500

The generous leverage is surely one. Moreover, after regulators throughout Europe, the USA, Australia, Japan, South Korea, and Canada restricted the maximum leverage brokers may offer with forex transactions, basically Australia remains the only major regulatory hub, where traders can still enjoy high margin trading without risking their funds with offshore brokers. So here you may check our list of brokers regulated in Australia:

Over 60 currency pairs available

This is another positive point for Gulf Brokers. They say to be offering 62 currency pairs, many of which exotic or minor like USD/TRY, USD/MXN, USD/ZAR, USD/HUF, USD/NOK, USD/SEK, USD/CZK, USD/PLN, USD/DKK, USD/RUB, USD/CNH, USD/HKD, USD/SGD. And they also offer CFDs on gold, silver, oil, 14 major indices, some agricultural commodities like cocoa, coffee, cotton and sugar, and stocks. However, as we do not see any crypto coins in their offer here you may check our list of brokers offering bitcoin CFDs:

MetaTrader5 supported

No doubt MetaTrader5, along with its predecessor the MetaTrade4 are the most popular trading platforms on the market for over a decade. MT5 features an advanced charting package, numerous market indicators, and even customizable trading bots, with which you can run automated trading sessions. And here you may also check our list of brokers, offering the MetaTrader5 as well:

Why Avoid Gulf Brokers (GulfBrokers.com)

Gulf Brokers Disadvantages:

Inadequate regulation

Gulf Brokers is owned and operated by the Gulf Brokers Ltd., which is an offshore company based on Seychelles and authorized by the local Financial Services Authority.

The Financial Services Authority Seychelles (FSA) was created in March 2014 with the idea to regulate the non-banking financial services providers on the islands, including corporate service companies, trust companies, and the foundation services providers. Forex and CFD brokers were also offered licenses, but the local requirements are not comparable to the strict regulatory regimes in Europe, the USA, Australia, Japan, or Canada.

For example, a broker licensed by the Financial Conduct Authority (FCA) in the UK or the Cyprus Securities and Exchange Commission (CySEC) should keep at all times a minimum operational capital of at least 730 000 EUR, while the only capital requirement for a Seychelles regulated broker is to register a company on the islands with a paid-up capital of 50 000 USD.

Furthermore, FCA or CySEc regulated brokers should file regular reports and allow external audits, while FSA on Seychelles simply lacks the capacity to oversee internationally operating brokers. That is why our best to advise is to check our list of brokers, regulated by the FCA:

High spreads 

Unfortunately, we were not able to open a demo account with Gulf Brokers immediately so we were not able to check their trading conditions first hand. Still, from their presentation, we understand that starting spreads are as high as 3 pips – about two times higher than the spreads traders would usually find attractive with a standard account. Still, here you may also check our list of brokers offering tighter spreads:

Unspecified fees

From Gulf Brokers Terms and Conditions we understand that although they currently do not have such fees, in the future they reserve the option to charge you statement charges, order cancellation charges, account transfer charges, telephone charges, and regulatory charges.

Excessive minimum deposit requirement

The 500 USD Gulf Brokers requires as a minimum investment are twice the amount most brokers would ask for with a standard account. And besides some big well-established brokers like FBS and IG do not have a minimum deposit requirement at all.

Few payment methods

Finally, Gulf Brokers are accepting payments only with credit cards like VISA and MasterCard and bank wire. There is no option to pay with popular e-wallets like Neteller and Skrill, or bitcoins, so here you may also check our list of brokers accepting payments with bitcoins:

Verdict

Conclusion

Unfortunately, we can not credit Gulf Brokers for their Seychelles license, because it does little to guarantee the safety of their clients’ funds and as we already noted, it can not be compared with a license issued by well respected financial watchdogs like FCA in the UK, CySEC in Cyprus or ASIC in Australia. On top of that starting spreads as high as 3 pips are far from attractive.

Add Your Review, Complaint, or Opinion

User’s Score & Editor’s Rating

2.8 Total Score
Risky!

Unfortunately, we can not credit Gulf Brokers for their Seychelles license, because it does little to guarantee the safety of their clients’ funds and as we already noted, it can not be compared with a license issued by well respected financial watchdogs like FCA in the UK, CySEC in Cyprus or ASIC in Australia. On top of that starting spreads as high as 3 pips are far from attractive.

3.1Expert Score
Value For Money
2.5
Honesty & Transparency
4
Reported Customer Experience
2.5
Reputation
3.5
2.5User's score
Value For Money
2
Honesty & Transparency
3
Reported Customer Experience
2
Reputation
3
PROS
  • None
CONS
  • Unregulated
  • Fake Reviews
  • Bury Complaints Instead Of Addressing Them
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6 Comments
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  1. This whole company is a huge scam dont even think of investing.

  2. I have been an investor at Gulf, I find it perfectly fine being with this broker.

    If you are stupid enough to invest in stocks without any knowledge, being fooled by people who assist you in trading, then you are on your own, you are uncurable stupid, you lose your money and don’t blame anyone. You have a talented DJ with you but without a good singing voice, you are just a dork, not even close to a amateur singer.

  3. 1.25
    Value For Money
    20
    Honesty & Transparency
    30
    Reported Customer Experience
    20
    Reputation
    30

    They do have a valid address, email and telephone number

    Helpful(0) Unhelpful(0)You have already voted this
  4. Hello everyone, I am a programmer, with an income of over 30 million a month, I do not know why they get my phone number, their employees race to call and almost force me to pay money and invest with them on top of that, committing to 30% interest per day. You know it is scary that in Egypt there were many of their victims and now they have come to Vietnam, everyone please take care of yourself. This is a “financial trading company” named GulfBrokers who are looking for money in Egypt recently to invest in Forex. But they didn’t say it at first. They called “potential customers” and told him that there is going to be an IPO for company X and if you book our seats with us now, you will make a lot of money, it’s simple. And they can give you a reward as well. So I asked about the company and its profile and learned that their basic transactions were Forex, but they have started working in stocks and stocks recently, so I have understand that it is okay. And I transferred the money. Phishing Gulfbrokers are tested ( gulf scam brokers ) They then assign you a broker who is considered your “professional adviser” to tell you what opportunities in the current market and how you can benefit from it. Until now everything is fine. Then the broker told you that the IPO still has some time to reach the market so we can use this time to make more money. And start convincing you that Forex is as safe as any other market, and the day that goes by without making money is losing money. gulf scammer brokers After a while, another IPO appears on the horizon and you have to participate. This is huge, a lot bigger than the first (not happening) and you have to participate. This time you should place a much larger quantity. When he told me how much I needed to take into account, I told him that was all I had. That’s really all the money I have, ever. So he told me it was a certainty, and for me to feel safe, the company would give me a 20% bonus on the money transfer to cover any potential losses. that’s not possible) and unfortunately I believe, and I transferred all the money I had. But again, the IPO is not yet on the market, so we will wait. And while we are waiting, we can earn some money. Therefore, Forex transactions continue, but because you now have a larger equity, so the transactions may be larger. But the broker guarantees you will never lose a dollar, your money is safe no matter what happens. He never closed a losing trade. However, every transaction he tells you to open, must be negative for a long time, before it makes a profit. But every time he tells you it’s normal, and he will never put your money at risk. And then trading will eat your money off, for me it’s oil. He told me this news he made the price fall, and we opened the trade, and of course it opened with a negative, but again, that was normal, I was not at risk. Then suddenly the negative gets bigger and when you call to ask what the problem is, he tells you it’s just a matter of time, but it has to go down again. But it no. And finally when he couldn’t help himself, he told me that I needed to put more money in my account to save what I ordered. That is his genius solution. To put a fortune to save my fortune. But the thing is, this is all I have. So he offered to withdraw from my credit card, or maybe a loan. But all this did not solve the problem I encountered. After two days, he called me and told me that the situation was very bad and I had to put more money, again. He does not believe that I am no more. So in the end, he said, “How do you put all your money in one place, you have to be careful !!!!!!!!”. And the next day, the account is closed, you lose all your money. No more. And you cannot do anything. That is your mistake. You put all your money in one place. And the reward, supposed to pay me in case I lost any money, suddenly became the company’s money and they had the right to withdraw anytime they wanted. So they did. Gulfbrokers scam gulf warning brokers scam! I’m not saying here that the company is a fraud or nobody is making money from these transactions, but the Egyptian operations branch is just a group of liars, incompetent people, will lose everything Your money and then not answer your call. So I just don’t want anyone with the experience I have. Please, do not give your money to this company. I lost every penny I had, so don’t do that.

  5. I was a victim of gulf brokers. I did a charge back with a forensic and cyber crime consultant and my bank because I used a MasterCard to make my deposit. It was a bad experience

  6. Will withdraw whats left with this scamming company. Keep on telling me to deposit more and more for 5mos already til i get bankrupt. They will only blame the market and wont make any remedy unless putting money in is the only solution. A lot more things are irregular with them. I advise never to entertain them.

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