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GCG Asia Review – is guardiancapitalag.asia scam or good forex broker?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
Trading account | Min. deposit | Max. leverage | Spread |
Standard* | N/A | 1:100 | 0.1 pips (!?) |
* These are the trading conditions we saw on the broker’s demo account.
Guardian Capital Asia (GCG Asia) presents itself as a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. The broker claims that there are multiple account options, including PAMM, MAM, ECN and more, but its website does not feature an account types section, nor discloses any trading conditions. What is worse, GCG Asia does not hold a valid forex broker license, hence the low rating we gave it.
It is possible that this broker is related to Goldland Capital Group (GCG), as their logos and abbreviations are very similar.
GCG Asia Advantages
Trading on the MT4
This broker offers its clients access to the MetaTrader4 (MT4), the preferred trading terminal of over 80 percent of forex traders. One of the key benefits of trading with MT4 is the great charting environment. It is further reiterated by the plethora of custom technical indicators and automated trading bots available via the MQL marketplace – a broker independent online store where people can test, buy, sell or lease newly developed tools.
Good variety of assets
There is a good selection of trading options at GCG Asia, which is also an advantage for traders. The broker’s product portfolio includes nearly 30 currency pairs, CFDs on precious metals, energies and several cryptocurrencies – Bitcoin, Ethereum, Ripple, Dash, and Litecoin. Yet, if you are keen on trading Bitcoin and other digital assets, it is best to choose among reliable and licensed brokers.
GCG Asia Disadvantages
Not licensed, despite the claims
GCG Asia is allegedly owned and operated by Guardian Capital AG, a company based in Zurich, Switzerland. The broker claims to be regulated by the local financial markets and services regulator FINMA, however our check in the public register revealed that this is not true.
This is our main concern with this GCG Asia, as most unregulated brokers, especially those making false regulation claims, are usually engaged in some sort of fraudulent practices.
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On its website GCG ASIA also claims to provide Negative balance protection, as well as client fund insurance of €2.5million, which is free to all clients. Considering that the broker is not licensed, we suspect that these are just more false claims.
Blacklisted by FINMA
We also found out that Switzerland’s financial markets and services regulator FINMA has blacklisted GCG Asia for conducting unauthorized activities in the country. FINMA keeps a close eye on the unregulated brokers and usually warns in a timely manner of those who make false claims of Swiss regulation or location
This is yet another red flag regarding this broker.
Does not disclose any trading conditions
Another clear-cut sign of trouble regarding GCG ASIA is the lack of any relevant information on trading conditions. Scammers would not share much essential information about their operation and trading conditions and the reasons for this are pretty obvious.
That is why we consider the lack of information on spreads, leverage provided, minimum investment requirement., as a great disadvantage on the part of GCG Asia.
Demo spreads too good to be true
When we tested the broker’s MT4 in demo mode, we found the benchmark EUR/USD spread floating around 0.1 pips, and no commission whatsoever applied.
Click to view full size.
Trading costs that low are just too good to be true. We suppose that the spreads on live accounts are higher, or commission applies. Yet another possible explanation is that this broker is simply a scam.
Conclusion
Overall, the lack of regulation and the questionable trading conditions incline us to suspect that potential clients of Guardian Capital Asia (GCG Asia) may be exposed to substantial risk. Not only that the broker is not regulated, but it was blacklisted by the Swiss financial watchdog for illegally targeting local investors and wrongfully stating it is licensed.
As usual, we strongly advice traders to invest only with properly licensed brokers. One of the well-respected financial watchdogs that provides sufficient security on the forex and CFD market is the UK’s Financial Conduct Authority (FCA).
To sum things up, here are the advantages and drawbacks with regards to GCG Asia:
Pros | Cons |
Trading on the MT4 | Not licensed, despite the claims |
Good variety of assets | Blacklisted by FINMA |
Does not disclose any trading conditions | |
Demo spreads too good to be true |
Broker | Advantages | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Please make sure that Javascript and cookies are enabled on your browser and that you are not blocking them from loading. Reference ID: #f45ee510-77e4-11ea-96ed-0b924c5628bf Bain Capital Partners Asia II, L.P. – Net Worth, Insider TradesNet Worth and Insider TradesBain Capital Partners Asia II, L.P. is listed as an insider in the following companies: G / Genpact Ltd. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders – in general – tend to outperform the market in their own companies. Holdings
Does this Insider’s Trades Predict Future Stock Performance?The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Bain Capital Partners Asia II, L.P.. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2020, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would would be 100%, and a change in price of $10 to $5 would be -50%. How to Interpret the ChartsUltimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction. However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity. The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage. Best Binary Options Brokers 2020:
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