Geverestfx

Geverestfx is a forex and CFD broker that purportedly operates from Australia. The company states it was founded in 2021 and offers trading services to retail clients globally. Geverestfx does not appear to be regulated by any top-tier financial authority, and its regulatory claims have been subject to scrutiny. FXCanary's records indicate that the broker has been flagged as a suspicious entity by the Cyprus Securities and Exchange Commission (CySEC).

In this profile, we provide an overview of Geverestfx based on available information. Traders should exercise extreme caution given the regulatory concerns.

The broker lists CySEC as a regulator on file, but the status is marked as empty, suggesting that the licence may not be valid or current. According to industry databases, the regulatory license of Geverestfx is a suspicious clone, and the broker has been exposed by the financial authorities of Cyprus as a scam. This means that Geverestfx is not licensed by CySEC and its claims of regulation are false. The lack of credible regulation is a significant red flag for potential clients.

Geverestfx offers four account types: VIP, Premium, Micro, and Standard. The VIP account requires a substantial minimum deposit of $100,000 and offers leverage up to 1:100. The Premium account requires $25,000 with 1:100 leverage.

The Standard account requires $2,500 and offers up to 1:300 leverage. The Micro account, with a $250 minimum deposit, provides leverage up to 1:500. These account tiers are designed to cater to different capital levels, but the high minimum for VIP and Premium suggests a focus on larger investors.

The maximum leverage of 1:500 on the Micro account is high and carries significant risk, especially for inexperienced traders. The broker does not appear to offer an Islamic or swap-free account based on available information.

Geverestfx claims to provide over 300 trading instruments, including forex pairs, stock CFDs, indices, commodities, precious metals, and oil. This range is typical for multi-asset brokers. However, without reliable regulation, the actual execution and settlement of trades cannot be verified. Clients should be wary of potential liquidity issues or manipulations.

Geverestfx is registered in Australia, but registration as a company does not equate to financial regulation. The Australian Securities and Investments Commission (ASIC) is the primary regulator for forex brokers in Australia, but Geverestfx does not hold an ASIC licence. The company was founded in 2021, making it relatively new. The combination of young age, lack of top-tier regulation, and exposure as a scam by CySEC raises serious concerns about its legitimacy.

FXCanary's Scam Risk Score for Geverestfx is 38 out of 100, which falls under the 'Guarded' category. This indicates significant risks. The broker has been publicly identified as a scam by financial authorities, and its regulatory licence appears to be a clone. Clients should consider these factors before depositing funds. We advise extreme caution and recommend checking for updates from regulatory bodies.