GrandPacificTrade Review – Is This Unlicensed Forex Broker a Scam?

As of May 2023, GrandPacificTrade.com has ceased operations. But you can read the article to avoid falling for similar scammers.

Is Grand Pacific Trade an Regulated Forex Supplier?

Grand Pacific Trade Forex and Crypto is an anonymous company. It did not provide us with any information about the company owner, telephone number or other pertinent details. According to the Terms and Conditions, the governing law is Saint Vincent and the Grenadines law. This leads us to believe that this company is another offshore scheme.

Questions about Trade Licenses

Grand Pacific Trade regulations are complex and there are many questions. There are no answers. We don’t know anything about the broker or the actual headquarters. It is a Caribbean island without a financial regulator, so setting up a business here has never been more straightforward.

Finansinspektionen Sweden Issues an Official Warning – Evidence of Fraud

The warning was issued by the Swedish regulator FI against Grand Pacific Trade. It stated that this company offers unregulated financial services for Swedish residents. The regulator found that the broker used an Australian telephone number to contact victims.

Later, the warning was republished by both the Portuguese CMVM (CMVM) and the Italian CONSOB.

Where Is GrandPacificTrade.com Trading Scam Active?

Grand Pacific Trade scam is also targeting residents:

• Australia
• Switzerland
• Serbia

How do scammers contact victims?

Grand Pacific Trade is a scammer that uses every means possible to reach their victims and convince them to invest. If you’ve ever signed up for any broker’s fraud ads, then you’ll receive many emails as well as WhatsApp messages containing different financial offers, promotions, and bonuses.

The broker may also try to reach out to you several times by phone and may even sell data to other schemes firms.

You can also contact us via social media, Facebook, Instagram as well as dating applications. Scammers combine romance and financial frauds and target both men and women equally. It is possible to stay in touch with someone for many months before they offer to invest with scheme brokers such as Grand Pacific Trade.

Grand Pacific Trade Support Team – The Scam begins Here

Grand Pacific Trade’s support staff will con you into investing. They are highly trained and can tell you convincing stories to get you investing. An account manager will keep you investing each week, while the welcome desk will pressurize you into investing immediately.

The person will ask you to download AnyDesk or TeamViewer, VCN Connect or another remote desktop access app. Once they have downloaded the app, they will take control of your device and erase all your online banking.

Grand Pacific Trade is a broker that you should be cautious about.

Trading Software – Supported Trading Platforms

You can only get hold of the basic WebTrader Grand Pacific Trade trading platform. It’s also the most inefficient one we have seen. There are many decent-looking WebTraders that offer enough trading tools. Unfortunately, this is not one.

The platform provides nothing more than an asset overview, margin check, balance check, trading history, and trading history. The leverage is not regulated making it even more attractive to invest.

GrandPacificTrade.com Instruments – What Can I Trade?

Clients have access 5 major markets. These markets include:

• Forex Currency Pairs – EUR/USD/GBP/USD, USD/JPY
• Commodities – Gold, Oil and Natural Gas
• Indices – DAX30, FTSE100, NIKKEI225
• Shares – Amazon, Apple and Facebook
• Cryptocurrencies – BTC, ETH, XRP

Spreads and fees for Grand Pacific Trade

Spreads start at 1.6 pip, which is the industry average. Other fees are not disclosed. These brokerages aren’t interested in making small profits on fees and swaps. They will take every penny that you invest and make it difficult for you to withdraw.

Overview of Trading Accounts: What Are They?

There are 5 Grand Pacific Trade accounts.

1. Basic Trading account – Minimum deposit $250
2. Residual Income – $10,000
3. Corporate $50,000
4. Institutional – $100,000
5. Retirement Plan $250,000

Apart from Grand Pacific Trade’s minimum deposits, accounts can differ in terms of leverage, spread, withdrawal times, and so on.

Grand Pacific Trade is Free!

According to the FAQ, you can open an account free of charge but must deposit money to try the platform. It is clear that Grand Pacific Trade Demo accounts are not available.

Grand Pacific Trade Withdrawal Procedures

These payment options are accepted by the firm:

• Credit Cards
• EWallets, such as APM and EFT
• Wire Transfer

Fees apply and the minimum withdrawal amount is $100. You cannot withdraw funds if you accept the Grand Pacific Trade bonus until you rollover the deposit and bonus amount 50,000 times.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

GrandPacificTrade: Video

Below you will find a short video about GrandPacificTrade. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about GrandPacificTrade!