Gafodex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Gafodex offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Tax reports included|Fast execution|Segregated accounts|Multiple order types
Cons: Search feature is basic
I opened an account with Gafodex since early this year ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: High security standards|Excellent charting|Fast execution|Full transparency
Cons: Help articles are sometimes vague
My card was charged twice by Gafodex on the same day. I had to dispute it with my bank. Gafodex then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Easy to use platform|Tax reports included|Risk management tools|Easy withdrawals
Cons: Cannot customize dashboard fully|Withdrawal takes 1-2 business days
My withdrawal request from Gafodex has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Clean UI|Regular updates
Cons: Account statements could be more detailed
After spending since last summer trying to make Gafodex work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Responsive team|Fast support response|Personal attention|Good mobile app
Cons: Some tools only available on higher tiers|Limited social trading features