Garafi Review: Garafi.com Unregulated Forex Scam

Garafi Review
  • Fund Safety
  • Regulation
  • Customer Support
0.5

Summary

Garafi is an offshore entity. Hence, you risk a lot once you sign up with the company. Nonetheless, this entity states that traders need to diversify their investment by trading multiple assets. This is not a legit company.

Garafi is a website that uses beautiful colors on their website. It is an attractive venture that will draw your attention. They require investors to open accounts for them to enjoy multiple benefits. The entity states that it has great trading conditions for investors.

However, this is another scam in the making that we do not recommend to investors. The broker is using false information. It claims that it is a regulated venture that has been in the market since 2018. Unfortunately, there is no financial watchdog in the market that permits their operation.

Garafi Review, Garafi Company

The self-regulated platform also brags about having a multi-lingual customer support team. They, therefore, urge investors not to hesitate to ask any question. In recent times there are several scammers that keep coming up in the market.

Therefore, investors now even need to be cautious.  The fraudulent ventures are very convincing. They use big words to lure you to deposit funds. Sadly, once you will not generate passive income if you fall for their schemes.

Invest with genuine forex trading companies that avail several trading currencies to investors. These are leading entities that have been in the industry for years. The brokers have built a name for themselves. Moreover, they care more about meeting customer needs.

Garafi.com Review

Garafi states that it is providing a trading platform that is superior to traders. To become a member it only takes 5 minutes. Additionally, the venture avail trending economic news to investors. However, this is not an assurance that the venture is legit.

There are certain things that you should check with a broker before depositing funds. You need to assess whether your money and personal data will be secure. Your safety should always come first. A platform that is not able to offer that benefit should not be your choice.

Garafi is an offshore entity. Hence, you risk a lot once you sign up with the company. Nonetheless, this entity states that traders need to diversify their investment by trading multiple assets. They will therefore be able to generate passive income.

Moreover, this is an expensive scam that lacks unique features. The expert traders will not waste their time in this losing system. It is a smooth suspicious entity. The company allows everyone into their website.

Garafi lacks the necessary features to help you trade easily. The firm is hiding a lot of essential information. Their only target is to get people to enroll on their website. Stock with us as we expose this nasty scheme.

Trading Conditions

Garafi is offering a web-based trading interface which is not the superior platform in the market. The broker offers a spread of 0.2 pips on the EURUSD currency pair. This being a fraudulent venture you can expect a commission that is high.

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Garafi.com Review, Garafi.com Features

Despite the company stating it charge commission it does not disclose the amount. The leverage ranges from 1: 20 up to 1:50. It is at per the strict regulatory bodies cap. The trading platform has basic features like stop loss, take profits, chart indicators, and time frame.

Garafi Withdrawal and Deposits

The minimum amount that you can deposit at Garafi is $1000. It is a lot of money considering there are legit investment schemes in the market charge as low as $10. Moreover, the company accepts funds via cryptocurrency only.

Therefore, investors will be limited from issuing a chargeback. Usually, you will find investment platforms present credit card options. The investors can get their funds out of the system within 540 days. We suggest that you search for better brokers in the industry.

Garafi does not have an option for traders to cash out their funds. It is a red flag that should be taken seriously. The company does not provide extensive information regarding the withdrawals. We understand that there are applicable charges.

Nonetheless, the broker fails to mention the amount. This is a firm with shady behaviors. They are targeting people with inadequate trading experience. There is no advantage that you will get by signing up with them.

Contact Details

The location of Garafi is allegedly at 145 Alejo Beni Street, Belize City, Belize. The entity also claims that it is operating legally from the above area. However, this turns out to be another fat lie. This is because the government does not authorize its operation.

The investors need to email or request a call from the company. We have reasons to believe that the information is kept on the website for transparency purposes. The platform is most likely not going to respond to your query.

Garafi is an entity that is fraudulent and they will ignore any attempt that you make to reach them. The legit investment schemes in the industry are transparent and you can contact them anytime when the need arises.

Garafi Regulations and Registration

The broker claims that it is licensed by CySEC financial body. Unfortunately, the characteristic that the entity showcases indicate that this is a false statement. However, we gave them the benefit of doubt and checked the database of this regulator.

Sadly, it turned out that Garafi is operating on its own accord. Therefore, they are not following any rules set by the government. Additionally, since the platform is allegedly operating from Belize it should have a regulatory document from International Financial Services Commission (IFSC).

The financial investment scheme activities are also not supervised by a corporate. Therefore, the company is operating on its own accord. There are better ways that you can use to generate income. Investing in this scam will not yield you any profits.

Additionally, they leave out essential information on their terms and conditions. The broker is capable of changing its policy any time that it pleases. Investors should stay away from entities that do not offer fund safety.

Garafi does not segregate finds. Moreover, once you deposit money it’s impossible to recover it from the platform. The fund goes straight to the scammers’ wallet. Once the company exits the industry you will not be compensated.

The Domain Insight

The platform has survived in the industry since October 2017. Its domain name will expire in 2021 October. The company is registered privately. Therefore, it is impossible to know the people that are behind this entity.

Garafi is a broker that exercises a high level of anonymity. The reason behind this is probably because they are engaging in illegal business. The entity has low traffic coming from visiting its platform.

Final Verdict

The broker is a dirty investment scheme that its country of origin still is a mystery. The company is also not licensed by any government in the world. They are allegedly dealing with forex, crypto, commodities, stocks, and indices assets.

Garafi is a company that does not have the intention of generating passive income for its customers. It is offering a web-based interface. Moreover, the firm fails to provide adequate data regarding its withdrawal and deposit.

Instead of wasting time with an offshore company invest with a genuine forex trading broker. The firms are dedicated to offering the best experience to all their clients. Additionally, you are going to get a better outcome when you engage with the venture. Sign up with them today to get high-quality services.

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