GCCKC LTD Review: Why Is the Broker’s Website Unavailable?

At the time of this writing, the website of the GCCKC LTD broker was unavailable. The most likely reason is the regulatory warning against the platform.

Financial market authorities usually react if they receive many complaints, as was the case with EndoTech. If this unscrupulous fraudster managed to steal your money, read our GCCKC LTD Review and learn how you can recover it!

Broker status:	Unlicensed Forex Provider
Regulated by:	Unregulated
Operating Status:	Inactive Forex Trading Scam
Known Websites:	gcckcfxs.com
Blacklisted as a Scam by:	ASIC
Owner:	N/A
Headquarters Country:	Australia (allegedly)
Website Created on:	2023-03-04
Trading Platforms:	MT5
Mobile Trading:	Unavailable
Minimum Deposit:	N/A
Deposit Bonus:	N/A
CFD Trading Option:	N/A
Crypto Asset Trading:	No
Available Trading Instruments:	Forex, Commodities
Maximum Leverage:	N/A
Islamic Account:	Unavailable
Free Demo Account:	Unavailable
Accepts US clients:	Yes
Global Fraud Protection Experts’ Verdict:	Avoid Working with this Company

Is GCCKC LTD Regulated?

Let’s first tackle the GCCKC LTD regulation issue. As mentioned, the brokerage firm was flagged as an unlicensed provider by a regulatory authority. That financial watchdog is the Australian Securities and Investment Commission (ASIC).

On November 15, 2023, ASIC issued a warning against GCCKC LTD, stressing that the broker is “not authorised by a licensee,” and adding that “almost all providers of financial services in Australia must be licensed by ASIC.”

It is clear that this entity is not a legitimate Australian-based business but a shady con artist lurking online. For that reason, we recommend you avoid anonymous platforms.

If you want a reliable platform, we suggest you find a licensed provider that operates under the supervision of reputable financial market authorities such as the FCA (UK), CySEC (Cyprus), FINMA (Switzerland), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), etc.

Why Financial Market Regulations Matter

For brokerage firms to obtain a regulatory license under esteemed financial jurisdictions such as the European Economic Area (EEA) or Australia, they must have a minimum operating capital of 730,000 EUR or 1,000,000 AUD, respectively.

Furthermore, their clients must receive negative balance protection, a segregated account in a top-tier bank (e.g. KfW, Bendigo Bank), a safe leverage cap (1:30) for retail clients, and a reliable compensation scheme contract worth up to 20,000 EUR (Europe only).

Trader Reviews – Sharing Experiences

Just before the website got taken down, negative GCCKC LTD reviews lighted the flame that threatened to expose the scammer’s operation. First, we stumbled upon this comment that says the broker demanded a “17% tax of the whole profit” pre-withdrawal, which is illegal to do.

More evidence and exposure can be found on wikifx.com where one user said he was required to “pay another $80,000 to be able to withdraw money,” which is an absurd amount of money for an ordinary fee.

Several traders expressed their frustrations with the platform, claiming they were scammed. These reviews must not be ignored so be careful.

Who Were GCCKC LTD’s Targets?

According to godaddy.com/whois, the gcckcfxs.com website domain was created on March 4, 2023. From then up until the website got shut down, the financial swindler mainly targeted traders from the following countries:

• United States;
• Australia;
• Myanmar.

Both the US and Australia have top-notch financial market authorities that enforce heavy regulations to prevent unauthorized entities such as Dominion Markets from running their schemes.

We checked the register of the US National Futures Association (NFA) and found that GCCKC LTD is not an authorized member, meaning it has no legal right to accept American users. As for Australia, the phony broker’s website has already been exposed by ASIC.

Which Trading Platform Was Available?

GCCKC LTD claimed to offer the famous MetaTrader 5 platform. However, the broker’s website was unavailable so we could not verify the legitimacy of this particular software. It could’ve been a demo version or an unreliable boiler room product.

Such platforms are easily susceptible to manipulation due to the lack of regulatory oversight. For that reason, stick to licensed providers that support proper third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.

MT platforms support useful tools such as automated trading, live market reports, advanced charting, a user-friendly interface, multiple timeframes, lightning-fast order execution, etc.

Trading Conditions – Leverage, Spreads, Commissions

None of the trading conditions were disclosed. Nobody knows what the maximum leverage traders could get from GCCKC LTD was. Just keep in mind that the regulatory cap in Australia is 1:30 for retail clients and anything higher is illegal. High leverage can amplify profits but also losses so it’s risky.

Trading costs, i.e. spreads and commissions were a mystery as well. Not including a demo account was a cunning move. That way, you are forced to invest real money straight away if you’re interested in trading with the broker. Please do not risk it if you’re a beginner.

Deposit and Withdrawal Process

Since we have no access to the website, we don’t know which payment methods the website used. Nevertheless, the main three options most brokers use include credit/debit cards, wire transfers, and crypto funding.

The reason why scammers typically prefer crypto transactions is that it allows them to remain anonymous, and tracing that payment can be a daunting task. Reversing crypto payments requires professional assistance. Luckily for you, we have a team of experts who specialize in tracing crypto payments to get clients their money back.

In case you want to recover your funds, please consider getting a chargeback. If you deposited money via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction.

As for wire transfers, you can request a recall to reverse the transaction but keep in mind that it can only work if the transaction has yet to go through.

What Should I Do If I Have Issues With GCCKC LTD?

To sum up our review, GCCKC LTD is a fraudulent Forex platform, mainly targeting traders in the US, Australia, and Myanmar. We don’t recommend this broker because it is unregulated, plus not compliant with regulatory requirements.

This platform is flagged as illicit by ASIC, meaning it can easily steal your funds. In our review, we have stressed the importance of regulations and why it is better to trade under jurisdictions supervised by recognized financial market watchdogs.

If you have fallen victim to the GCCKC LTD scam, please book a free consultation with Fusion Forensics Limited. We have a team of experts who can assist you in the fund recovery process and get your money back as soon as possible.

Book your free consultation today and get your money back.