Grossfield Limited is a European broker with a history spanning decades. The intermediary offers its clients unique trading conditions, exclusive high liquidity, as well as low spreads and commissions. Indeed, this is possible for companies with an extensive client base, which, after so many years in operation, should not be a problem for this broker. Traders will have access to the most popular instruments, such as Forex, indices, stocks, and more. However, there are some inconsistencies in project history. For instance, the website domain was registered in October, and prior to that, no one had heard of such a broker. Additionally, it has not obtained any licenses for financial and related services. So, is it a scam? Don’t rush to conclusions; we’ll explore everything in our review.
How to Trade
Grossfield Limited offers a choice of four account types:
- The Bronze account is designed for beginners, allowing trading in currency pairs and includes the assistance of a personal manager. Spreads on this account start at 0.8 pips.
- The next account, Silver, requires a minimum deposit of 5,000 units. It is created for more advanced traders who are proficient in trading commodities — one of the main assets for this account. The leverage is increased, and clients also gain access to collective webinars.
- The third account, Gold, with a minimum deposit of 20,000 euros, provides Grossfield Limited clients with the opportunity to trade popular indices.
- Finally, the VIP account requires a deposit of 100,000 euros. In addition to all the options from the previous accounts, it includes the assistance of a personal analyst and trading signals. Grossfield Limited also provides access to trading in metals and stocks.
Grossfield Limited Vital Info
The company claims to be registered in the UK. Well, information about a company with that name does exist in the British registry. However, it is an entirely different legal entity that has no involvement in brokerage services. Moreover, Grossfield Limited lacks the necessary licenses for such activities. It appears that we have encountered a clone of the authentic company.
Why is that? Because the original firm has been operating since 1982. This extended period of operation is an excellent backdrop for scammers since it significantly adds credibility in the eyes of traders. However, here lies the issue — the domain of Grossfield Limited was only created on October 12, 2023. This fact completely exposes their fraudulent nature. They simply appropriated someone else’s name from the registry and used it to present themselves as a legitimate company.
These scammers from Grossfield actively promote their company. They somehow got hold of a phone database and called traders, offering them to work on their platform. I fell for it, too. As a result, I spent a lot of money, time, nerves, and ended up with an empty wallet. It's one of the worst places to trade! The scam doesn't process withdrawals at all! As soon as it comes to payouts, they simply block the account, and no one responds. My sad story: spent over 2,000 euros, more than half drained, and the rest is stuck, with no intention of being returned.
Whether to recommend trading here's a personal decision, as it involves your own money. However, I can share my experience with Grossfield Limited. Withdrawals work excellently and reliably with no reported delays. Communication with fellow traders indicates smooth transactions, and a $5,000 withdrawal was processed seamlessly. With a good tariff and a $10,000 deposit, I trade confidently, appreciating the reliability of the company. While additional services like manager assistance and financing were offered, I declined, and surprisingly, there was no aggressive promotion of such services, which I found positive.
My daughter suffered a loss of $10,000!!! Swindlers took advantage of her inexperience and lured the money she was saving for a trip abroad. She wanted to earn some extra money but ended up losing everything she had. Grossfield Limited is a FAKE broker that creates the appearance of trading to deceitfully scam people out of their money and then misappropriate their funds. These fraudsters operate without a license and have no legal basis for their activities. It's surprising that this scam hasn't been shut down yet, but I believe THE END IS NEAR because complaints are pouring in continuously!!
Obviously, companies like Grossfield Limited should not be trusted, and there's no desire to even try trading with them. The company simply doesn't offer a demo account, so you can't test their platform, which, by the way, is unknown to me, and there are no guides or instructions available. The leverage of 1:200 clearly indicates that the broker doesn't operate under licenses; otherwise, the leverage would be a maximum of 1:30. The conditions are also poor. Grossfield Limited has an exclusively negative reputation. There are no licenses, and no branches or offices are open anywhere. Even the official website is inexplicably translated only into Russian and English. What does Russia have to do with it? Another scam sign is their boiler-room scheme. It's crystal clear that there's no execution of trades on interbank liquidity; all trades are processed within the broker itself. Hence the conflict of interest when the company only needs traders to drain their money. So, fellow traders, once again, don't engage with companies like Grossfield because you'll gain nothing but losses. It's worse than a casino, where at least there's a chance to earn. Here, even if you earn something, you won't be able to withdraw it; they simply won't allow it. Money doesn't come out of such fraudulent companies. Trust me! I have rich trading experience, over 10 years; I've been through many companies, and I know what I'm talking about.
Firstly, the company operates without any broker license. Despite a UK address suggesting FCA regulation, there is no record of Grossfield Limited in FCA registries. Further investigation into other registries revealed that the firm exists in the UK but is unrelated to brokerage or financial markets, indicating a misuse of data. The conclusion is that scammers appropriated someone else's information and began using it on their website, registered less than six months ago, with all reviews being relatively recent.
If you choose the right companies, you won't encounter scams. A friend of mine fell into this scam and has been unable to withdraw money for several days. He invested $30,000, traded a bit, realized he couldn't withdraw, and decided to pull his money back. He's still waiting and trying to contact Grossfield Limited, but they are unresponsive. This person lost $30,000. While it may not be an enormous sum, the money is gone. Don't feed these scammers. Trade in reputable places, such as those licensed by the FCA, to avoid losing money in this way. A lesson for my friend.
Quick order execution, no requotes or slippage, a multifunctional trading platform compatible with both browsers and phones, leverage of 1:400, reasonable spreads lower than other brokers, and a wide selection of trading instruments – these are the advantages and strengths of Grossfield Limited that came to my mind immediately.