The broker claims to have a license from the offshore regulator of Anjouan under number L15817/GL, as well as a trading volume of over $130 billion and more than 142,000 registered users. However, there are no scans of documents on the gracexfx.com website, nor are there any verified reports on the verification of its financial activities. We will carefully examine the project in our Gracex review to determine whether it is truly a legitimate and profitable trading platform or just another scam.

Key Points to Know

Main Website https://gracexfx.com/
Additional Domains Not Found
Online Since 2024-08-30
Legal Entity Name GracexFX Ltd
Pretended to Be Regulated Anjouan Offshore Finance Authority
Fact-Checked Regulation AOFA (L15817/GL)
Deposit to Start Trade $100
Leverage up To 1:1000
Spreads From 0 points

What Stands Out About the Gracexfx.com Website?

  • Mobile applications.
  • PAMM accounts and copy trading.
  • No history of company development.
  • Basic application interface.
  • High leverage.
  • Offshore license only.
  • English translation only.
  • No social media presence.

Inside the Offshore Registration of Gracex

The broker confidently claims to be fully legal and licensed, which in our experience means multiple branches and incorporated entities in European, Asian, and American jurisdictions. However, nothing of the sort is observed.

The homepage looks like a list of advantages, motivating visitors to make a quick decision about cooperation

Instead, Gracex only claims to have a regional office in Moldova, but the website does not list any Moldovan legal entities. It is unclear who actually rents this office and on whose behalf services are provided there.

It should be noted that this broker is registered as a legal entity in Anjouan under company number 15817. However, the Central Bank of the Comoros has issued several warnings that AOFA and its associated licensing authorities have no legal or physical presence in the country. This means that its regulatory framework is considered unreliable by global financial standards. Thus, the only firm listed by the broker is registered in one of the weak offshore jurisdictions.

Trading Conditions Explained

The minimum deposit depends on the pricing plan and is $100 for a basic account, but increases to $1,000 and $20,000 for the next levels. However, there are three separate trading plans: FREE, FIX, where clients can start with $100; the ZERO plan has a minimum deposit of $50K. It should be noted that users have access to high leverage of up to 1:1000, which can increase potential profits, but at the same time significantly increases the risk of losses.

The types of tariffs differ in terms of an increase in the deposit with a simultaneous decrease in leverage and commissions, as well as an increase in the stop-out level

Gracex claims to have an STP mechanism for access to Tier-1 liquidity. However, it is unlikely that any provider would work with an offshore company offering huge leverage.

The broker attracts traders with spreads from 0.0 pips and no swaps on some accounts. However, it is no secret that low spreads can be offset by hidden commissions. Besides, zero spreads are often a marketing ploy, as the broker needs to make a profit and can do so in other ways that are not always transparent to the client.

Checking Compliance with Legitimate Rules

As we mentioned, the company claims to have an office in Moldova, but it does not have a license for brokerage activities in the securities market from the Moldovan regulator (NCCB). Moreover, we did not find GRACEXFX Ltd at the specified address in Chisinau; in fact, the central office of Eximbank is located there.

The company's website is not specified in the license of the Union of the Comoros (Anjouan) regulator

As for verifying the broker’s license number L15817/GL in Anjouan, the AOFA regulator does not specify or verify the official domains associated with the licensed organization. This makes it difficult to confirm whether the platform is actually authorized under this license. 

How Long Has Gracex Really Been Around?

The brokerage company claims that it “has grown from a modest startup to an emerging global leader in the financial trading industry” in the “History” section of its website. However, the broker does not specify the date of its launch. In addition, Gracex claims to have been recognized as the best platform and received awards in 2024, but provides no documentary evidence to support this. Meanwhile, the domain was registered on August 30, 2024. This means that the brokerage website gracexfx.com has been operating for less than 1.5 years at the time of our review.

According to WHOIS information, the domain was established on August 30, 2024

Platform and Support Overview

The company offers trading on the MetaTrader 5 platform, which can be accessed from the client’s account. Besides, it can be downloaded from mobile app stores — App Store and Google Play or Web Terminal. It is important to note that the software is popular and reliable. However, the security of its operation depends on the reliability of the broker.

Users can contact support via online chat, email, a single phone number with a Moldovan code, and a feedback form. Please note that the broker’s 24/7 customer service is mentioned on the official website, but there is no information about social media accounts. Finally, we tested the functionality of the email support@gracexfx.com by sending a question, but did not receive a response within 24 hours.

Online Reputation: What We Found

Reviews of gracexfx.com are quite contradictory. For example, Google displays negative links on Russian websites or on the well-known WikiFX portal. The latter, by the way, has only 5 user comments published, 3 positive and 2 neutral, while the portal itself has assigned the broker an extremely low rating (1.89 out of 10). Reviews on Trustpilot are also extremely positive, which makes us doubt their authenticity.

It should be noted that there are many positive reviews online in Russian, a language spoken fluently by almost all residents of Moldova, a former Soviet republic. For example, we found reviews on the Otzovik or Vc.ru websites, which mainly show the highest ratings for this company’s activities. Of course, they all seem fake. Overall, the Gracex trading platform’s online reputation is built primarily on the backs of such fake reviews on Russian-language resources and the removal of negative opinions in the English-language space.

Conclusion: Risks and Reliability of Gracex

We were struck by the number of reviews on the internet in Russian, all of which were extremely positive. Despite the fact that the platform had only been operating for four months in 2024, it had allegedly received many international awards and attracted tens of thousands of customers.However, GracexFX Ltd does not provide any translation of its website other than English, there are no money-back guarantees, and the office address listed in Moldova is fake. Therefore, there is no doubt that the positive reviews are fabricated. Moreover, there is no responsible regulation, the listed liquidity providers are not confirmed, and the business model definitely has a conflict of interest. In general, this platform is just another boiler room. It is better not to cooperate with this project in order to avoid risks.

Sources

The following people worked on this review:

Emily Chen
This review is written by
Emily Chen
Offshore Expert
Edited by Sarah Mitchell

Emily Chen has experience working for a large international bank, where she acquired skills in the field of offshore financial services. Currently, she is engaged in the preparation of detailed analytical materials and recommendations on brokers offering reliable and effective solutions for offshore trading. Her knowledge helps potential clients make wise choices when investing through offshore dealers.