We want to help you avoid becoming another victim of scammers from Grossfield Limited. Do you think this CFD broker truly knows how to maintain confidence during times of instability? Are you hoping that a company with years of experience can offer attractive trading conditions and quality service? Forget it. The creators of this platform only know how to make empty promises and misappropriate the money of trusting traders. For more details about this, information about the company, and reviews, check out our review.
- Grossfield Limited General Information
- Registration and Client Portal Review
- Grossfield Limited Trading Conditions
- Account Types Review
- Trading Platform
- Grossfield Limited — Deposit and Withdrawal of Funds
- Additional Options
- Is Grossfield Limited a Scam?
- Legal Information and License
- Grossfieldltd.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Grossfield Limited General Information
|Address||Tower 42,25 Old Broad St., London EC2N 1HN|
|Leverage||Up to 1:200|
Registration and Client Portal Review
When a project is created by scammers to misappropriate traders’ money, it’s noticeable in practically everything. No matter how hard the developers at Grossfield Limited try to give their official website the appearance of a reputable web resource of a licensed broker, something prevents them from being believed:
- Either it’s the non-functional link to the ‘Deposits and Withdrawals’ page.
- Or it’s the content of the ‘Trading Terms’ page, which you certainly can’t call trading conditions.
- Or it’s the absence of such important and essentially mandatory policies as KYC and AML.
In short, Grossfield Limited has never worked with experienced traders and doesn’t understand what potential clients want from the broker’s official website. However, an abundance of meaningless images and constant pressure from texts describing the company’s advantages can work well with beginners. In fact, it’s much easier to convince the latter that the broker operates entirely legally and that trading with them is safe.
The registration form here is simple. However, its main problem lies in non-compliance with existing laws and regulatory requirements:
- Almost all regulators require brokers to include more customer data in registration forms. Grossfield Limited lacks, at the very least, a residential address.
- Similar laws on personal data protection are in effect worldwide. They include requirements to familiarize users with the terms of collecting and processing personal data during registration and obtain their consent. It seems that Grossfield Limited has overlooked these legislative provisions.
- Similar requirements for brokers and dealers in financial markets are imposed on risk disclosure documents. A small paragraph in the website footer is clearly insufficient, but Grossfield Limited seems to be unaware of this.
Legitimate brokers will definitely check at least part of the contact information during registration. However, scammers believe that it’s not necessary, much like Grossfield Limited. As a result, entering anything into the registration form fields grants visitors instant access to the Client Portal. A trader who has already seen the “creative work” of scam brokers will find nothing new here.
The list of features implemented in the Client Portal includes:
- Editing personal information, verifying, and changing security settings.
- Depositing funds, processing withdrawal requests, viewing non-trading operation history.
- Working with trade history.
- Submitting queries to customer support.
The creators of the Grossfield Limited personal cabinet didn’t even remember the promised additional services (such as signal delivery) and materials (educational or analytical). They couldn’t actually, because they couldn’t even properly refine the existing functions:
- We mentioned that the address was not entered during registration. There are no fields for it in the personal cabinet. Firstly, this violates the requirements of any regulator. Secondly, what proof of a nonexistent address does the company require during verification?
- We mentioned that contact information is not verified during registration. These functions are also absent in the personal cabinet.
- The menu does not even include functions related to a referral link and viewing referral statistics. What kind of affiliate program is being discussed on the website?
Grossfield Limited talks a lot about the security of client funds, but they haven’t even implemented additional protection features, such as 2FA.
Grossfield Limited Trading Conditions
Trading conditions of the broker are an important part of our investigation. Let’s take a closer look at them.
Account Types Review
So, Grossfield Limited offers 4 types of accounts to choose from:
- Bronze: It requires a minimum deposit of 2,000 euros. The leverage is set at 1:100, and beginners are restricted in the available trading instruments. They can only open trades with currency pairs.
- Silver: Minimum deposit requirements are set at 5,000 euros. Grossfield Limited allows trading not only with currencies but also with commodities. The leverage increases to 1:200.
- Gold: The minimum deposit is 20,000 euros. In addition to a personal manager, analytical services are also included.
- VIP: The entry threshold for this account is set at 100,000 euros. Grossfield Limited clients can receive trading signals, benefit from reduced spreads starting at 0.4 pips, and there are no commissions.
As we can see, these accounts are quite standard and do not offer anything extraordinary. The minimum deposit requirement is also relatively high.
The trading platform provided by Grossfield Limited is a cause for concern. Firstly, it is only available in a web-based version, which limits accessibility and functionality for traders who prefer standalone software. Additionally, the platform has garnered negative reviews primarily due to its unreliable performance. Users frequently encounter technical issues and disruptions during trading sessions, which can lead to significant inconveniences and potential financial losses. Moreover, the platform lacks advanced features and indicators, making it unsuitable for experienced traders who rely on comprehensive tools for analysis and decision-making.
Grossfield Limited — Deposit and Withdrawal of Funds
Users can fund their accounts with Grossfield Limited using various methods, including credit and debit cards, e-wallets like Skrill and Neteller, as well as cryptocurrencies. It appears that the broker also allows withdrawals through these same channels. Interestingly, Grossfield Limited directs users to the payment integrator’s website, PayU, to execute transactions. However, the choice of a Polish payment provider and transactions being conducted in Polish złoty is puzzling for a supposed “British broker.” This suggests that Grossfield Limited may not have as strong of a British presence as it claims, raising questions about its true origins.
The company appears to require users to undergo a verification process, which is a common industry standard. However, it’s worth noting that there is no clear information provided regarding Anti-Money Laundering (AML) and Know Your Customer (KYC) policies on the platform. Typically, these policies are essential components of the verification process for any reputable broker.
To complete the verification process, users will likely need to submit standard identification documents, such as a valid government-issued ID, proof of address, and potentially additional documents to confirm the source of their funds.
The broker does mention a partnership program on its website. You might think that you can invite referrals for rewards or become a representative of the broker. However, as previously discussed, the client portal lacks the necessary functionality to support these activities. This raises doubts about the feasibility and actual implementation of the partner program.
Is Grossfield Limited a Scam?
The company fits perfectly into the scam concept, and we’ll show you the evidence.
Legal Information and License
The creators of Grossfield Limited decided to add an important but inconspicuous detail to the page footer – the company’s registration number.
Of course, we found a record of Grossfield Limited in Companies House. The company has been registered since 1982, allowing the website to claim decades of experience in the market. Furthermore, the firm’s area of activity is listed as financial intermediation. It would seem that we are dealing with a real broker.
Unfortunately for the scammers, they did not get lucky. Financial companies in the UK, especially brokers and dealers, are required to obtain licenses from the local regulator, the FCA. However, there is no mention of an FCA license on Grossfield Limited’s official website, which is quite strange. This means we must look for relevant information in the regulator’s databases. This search typically takes less than a minute.
A search in the regulator’s registry returned a total of two relevant results. Among them, one company’s license had already expired, and the other never had one. So, as it turns out, the legal entity found in Companies House, to which our “honest” broker refers, has no connection to these records. This indicates that the real firm never obtained an FCA license.
Naturally, the fraudulent broker project Grossfield Limited operates without a license.
Grossfieldltd.com Domain Info
“Decades of experience” and being “one of the main players in the investment market” – these are indeed strong claims from Grossfield Limited. We believe you already understand their worth. To further emphasize our point, let’s assess the project’s existence based on the domain registration date.
The Whois data looks quite remarkable – the owners of Grossfield Limited registered the domain on October 12, 2023, just three weeks before the date of this review. This immediately turns their claims of “decades” into a fake and confirms that the broker is merely borrowing someone else’s name.
The broker offers various means of contact, including a phone number, email, and even an office address. However, the office address is most likely fake. We wouldn’t recommend visiting it, especially considering that the broker is not officially registered in the UK.
Pros and Cons
- Simple registration process.
- Multiple contact options for customer support.
- Lack of transparency in company information.
- Absence of regulatory licenses, indicating potential illegitimacy.
- Limited trading platform functionality, available only in web version.
- High minimum deposit requirements.
- Incomplete and unclear terms and conditions.
- Missing essential KYC and AML policies.
- Unreliable partner program mentioned with no actual functionality in the Client Portal.
- Suspiciously recent domain registration, contradicting claims of decades of experience.
Frequently Asked Questions (FAQ)
It claims to offer trading services and investment opportunities.
The broker suggests a minimum deposit of 2,000 euros, according to their trading conditions.
No, Grossfield Limited is not safe. Based on our findings, it appears to be a scam broker. We recommend avoiding any involvement with this platform.