Every trader dreams of finding the perfect broker, but the forex trading world is rife with scam companies. Today, we’re taking a closer look at Gracex, a young offshore organization that boasts about its experience and over 100,000 clients, despite having very few online reviews. What’s wrong with this company? Let’s find out.
Brief Overview
- 🖥Official Website: https://gracexfx.com/
- ✈️Contact Address: Ground Floor The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia
- 📞Customer Support: +37379830268, info@gracexfx.com, support@gracexfx.com
- 🔐Licensing and Accreditation: no
- ⏳Track Record: 2024
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $100, 1:1000
- 💰Additional Services: education
Gracexfx.com Examination
Right away, it’s worth noting that the official website of Gracex doesn’t resemble the typical cookie-cutter brokerage sites we’re used to seeing. It’s not based on a pre-made template, as evident from the structure of the top menu, the images, and the available information.
The top menu features only four sections, providing all the necessary details about the company, its conditions, platform, and other aspects. However, a significant downside is that the site is available only in English. Although the firm claims to support at least 10 languages, is that a lie?
The images on the site are bright and modern at first glance, but upon closer inspection, they have nothing to do with actual trading. There’s some kind of space-themed design, green suits, and charts that are clearly pulled from templates. The whole thing feels more like a children’s cartoon than the website of a serious broker.
In summary, we can give the site a neutral rating. Gracex tried to create something unique and vibrant but failed. A for effort, as they say.
Company Contacts
The contact details provided are standard: a phone number and two email addresses. We verified this information — it’s real, not fake. However, that’s the only positive point. Gracex doesn’t offer clients a convenient live chat where they can ask questions and get quick answers without having to make phone calls or wait for email replies.
Social media accounts are also absent, which is odd. Social media is an excellent tool used by any serious online broker. It simplifies interactions with traders and helps attract new clients.
Key Conditions
Looking at the trading conditions, it’s immediately clear that Gracex does not hold serious licenses from reputable regulators. This is evident from the excessively high leverage and deposit bonuses. Regulators typically prohibit brokers from offering leverage above 1:30–1:50, yet Gracex offers a staggering 1:1000 — many times higher. Reliable brokers rarely offer such leverage because it leads directly to massive losses for traders. Even for “professional” accounts, the figures are inflated: 1:500 and 1:200. This looks more like an attempt to lure inexperienced traders with promises of “easy” money than to provide safe trading conditions.
The broker offers only three account types, aside from the demo account. The standard account requires just $100 — tempting, isn’t it? But if you want something more serious, be prepared to deposit $1,000 or even $20,000 for a “VIP account”. And here’s the question: what are you paying for? Slightly better spreads and commissions, and lower leverage.
The spreads sound appealing at first: from 1.2 pips for a standard account. However, the lot commissions are unreasonable: $10 for Forex, and $13 for metals and energy. And for cryptocurrencies, Gracex charges a percentage — 0.45%, while stocks incur a fee of 0.65%. These rates are excessively high.
Deposit bonuses are another red flag. Serious brokers abandoned this practice long ago because it violates regulations. Yet here, it’s being marketed as something extraordinary.
The trading conditions are clearly unfavorable. High commissions, and you still have to pay the spread. Want better trading terms? Then be ready to deposit a much larger amount. It’s obvious the company is trying to extract as much money as possible from its clients while offering dangerously high leverage. All of this ensures that traders lose their deposits quickly, allowing the platform to profit.
Exposing Gracex
The company lists the following legal details:
- Registration in Saint Lucia.
- Registration in Anjouan, Comoros, with a license from the local regulator.
For an experienced trader, these documents are nothing more than a decorative piece of paper with a stamp. Let’s break down why such “certificates” should never be trusted.
The Comoros Islands are a classic offshore jurisdiction with almost zero oversight. Regulators in such places are notorious for issuing licenses to anyone for a minimal fee. Just pay up, and you can get whatever you want. No one will monitor the company’s activities. If Gracex decides to drain all client funds, the regulator won’t lift a finger. For traders, this means one thing: a total lack of protection. If something goes wrong, recovering your money will be virtually impossible.
Now, let’s turn to Saint Lucia. It’s even worse there. They issue certificates for “International Business Companies”. While this sounds official, in reality, such a document is just a piece of paper designed to minimize taxes, not to protect client interests. Saint Lucia doesn’t regulate financial markets the way serious authorities like the FCA or CySEC do. So, if the broker decides to “disappear” with your money, Saint Lucia won’t help you.
In short, Gracex lacks any credible license, despite claiming otherwise. This tactic is clearly aimed at novice traders who don’t understand the difference between reputable regulators and offshore financial commissions.
There’s another major drawback to this broker. Gracex hasn’t stood the test of time. All of their registrations are from 2024. Even their domain, gracexfx.com, was registered in August 2024. The platform hasn’t even been operational for a year; yet it boasts of having 142,000 clients. How could they amass such a large trader base in just six months? Even legitimate forex brokers take years to achieve that.
What Reviews Do Users Leave?
The claim of 142,000 clients is blatantly false, as evidenced by the very small number of online reviews. There are almost none. This further confirms that Gracex is a recently launched operation and hasn’t built a significant trader audience.
Conclusions
The broker actively misleads people, calling its pseudo-licenses reliable regulation when that’s far from the truth. The platform lies about its client base, trying to create the illusion of being a major player in the forex market. Our verdict is simple: it’s better to steer clear of Gracex to avoid risking your money.
Pros/Cons
- The firm is indeed registered in Comoros and St. Lucia.
- Demo account.
- No license from serious regulators.
- Term of operation less than a year.
- A lot of false statements and facts.
- High risk of losing money.
The way Gracex FX manipulates price charts is outrageous. It’s clear they’re rigging the graphs to ensure traders lose money. I’ve encountered this kind of behavior before and initially couldn’t understand how it was possible. Later, I realized this was a dealing desk operation — meaning the charts are fake, the market is artificial, and there’s no real liquidity. Once this became clear, it was obvious that making a profit here was impossible. I strongly advise against trading on this scam platform.
Some people trust these fraudsters and transfer their money to dangerous companies like gracexfx.com. Of course, these scammers easily deceive them by claiming to be a legitimate broker, but that’s a lie. Gracex is a fake and illegal broker whose sole aim is to lure you in and take your money. That’s all there is to it.