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Contract reading

What GFC legally published, but does not want you to read

Every clause below is published by GFC itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Global Financial Contracts Ltd.

deemed acceptancedispute barrierhidden feesole discretionunilateral amendmentassignmentchurning incentiveclient moneycomplaint routecomplaint window

GFC's funds page promises FCA client money protection. The company is registered in St Lucia, and the contract you sign never mentions segregation. Peso deposits go to GFC Capital SA, a company named in none of the legal documents. You get 48 hours to dispute a trade, and if you sue GFC and lose, you pay GFC's lawyers.

Back to GFC

Contract risk

Money at risk
8.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
6
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
17
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
17
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 17 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical6
Warning9
Notice2

section 39 of 40is where the deepest clause sits: the very end of the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 daysTime to complain. Jump to the clause this comes from.You have 48 hours to dispute a trade, then silence is agreementCritical3%Fee you were not shown. Jump to the clause this comes from.A conversion premium of up to 3% comes off your depositCritical25%Account limit. Jump to the clause this comes from.GFC can close any position for any reason or for none400In the contract. Jump to the clause this comes from.Leverage of 400:1 advertised, 1% margin in the contract

What the documents say

17 clauses worth knowing about, worst first, each quoted from GFC's own files

01

GFC's deposit sheet tells you to wire Mexican pesos to GFC Capital SA at Banorte. Your contract is with Global Financial Contracts. GFC Capital SA appears in none of the legal documents.

Why this matters

You send your money to one company while holding a signed agreement with another. If the payment goes astray, the company on your contract never received it.

Exhibit 1CriticalRarely seen

Beneficiario: GFC Capital SA
Quoted in GFC Instrucciones para depósito (mayo 2026)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026The claim, on Legal information block, repeated in the site footerVisit this page on the broker's siteDownload the full size image file

Our readingBrokers normally collect client money in an account bearing the name of the contracting company. Here the peso account carries a name that appears in no published document, so you cannot match the payee to the party you agreed with.

  • Worse together with Exhibit 2A promise that client money is kept apart from company money cannot be checked when the receiving account is in a third company's name.
02

GFC's safety page says it holds retail client money in segregated accounts under the FCA's client money rules. The contract you sign never mentions segregation, the FCA, or any bank.

Why this matters

You are told your money is ring fenced if GFC fails. Nothing you sign obliges GFC to keep it apart, and the contract lets GFC use the account for its own protection without telling you.

Exhibit 2CriticalHarder than usual

Sin embargo, cuando GFC lo juzgue necesario o recomendable para la protección de GFC, GFC esta autorizado bajo su discreción y sin previo aviso Cliente, para compensar cualquier posición en la cuenta y para vender depósitos paralelos con GFC o con sus afiliados.
Clause LIQUIDACION DE POSICIONES in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026The claim, on Safety of your funds page, section headed Cuentas SegregadasVisit this page on the broker's siteDownload the full size image file
Our own capture of gfcmercado.com, taken on Sep 17, 2026What the contract says, clause LIQUIDACION DE POSICIONESVisit this page on the broker's siteDownload the full size image file

Where it sits: section 2 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must hold retail client money in segregated accounts, reconcile it daily, and name the compensation scheme that applies. This contract contains no segregation clause and names no scheme.

GFC is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

03

You get 48 hours to object to anything GFC reports on your account. Miss it and the contract treats everything GFC did as approved by you.

Why this matters

The clock starts when the information becomes available on the platform, not when you read it. Two days after a wrong fill, your right to argue about it is gone.

Exhibit 3CriticalHarder than usual2 days

El cliente deberá de ser juzgado para ver si es aceptado y ratificados los reportes comerciales y la información financiera proveída por GFC, al cliente, al menos que el cliente notifique a GFC, de otra manera, no mas de 48 horas después de acuse de recibo del cliente de tal infamación de GFC.
Clause ESTADOS DE CUENTA Y CONFIRMACION DE ORDENES in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026You have 48 hours to dispute a trade, then silence is agreement (clause ESTADOS DE CUENTA Y CONFIRMACION DE ORDENES)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 4 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must run a written complaints procedure and tell a retail client about the independent scheme that can review the outcome. This contract gives you 48 hours and names no outside body.

GFC is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 6A two day objection window matters more when the cost of being wrong in court is GFC's legal bill.
04

Deposit in a currency other than your account currency and GFC converts it at its own rate plus a premium of up to 3%. The document says the premium reduces the net amount that reaches you.

Why this matters

A Mexican client funding a dollar account pays this before placing a single trade. The deposit sheet on GFC's account documents page lists bank details and no fees at all.

Exhibit 4CriticalHarder than usual3%

El tipo de conversión será la tasa GFC Solicitada (Compra) actual más una prima por conversión de hasta 3%.
Quoted in Instrucciones para depósito
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026The claim, on Forex page, section headed Precios basados en oferta y demandaVisit this page on the broker's siteDownload the full size image file
Our own capture of gfcmercado.com, taken on Sep 17, 2026What the contract saysThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

What it costsA $10,000 deposit needing conversion can reach the account as $9,700. The $300 is gone before the first trade.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before they trade, in one place and in good time. This premium sits in a deposit sheet that the account documents page does not hand you.

GFC is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 8A fee set at the broker's own rate matters more when the contract lets GFC change its charges without notice.
05

The contract lets GFC close any or all of your open positions at the going price, in its own words for any reason or for no reason. At 25% of the margin your positions need, it can liquidate with no notice to you.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A winning position can be shut before you choose to take it. If the close out leaves the account below zero, that shortfall stays your debt to GFC.

Exhibit 5CriticalHarder than usual25%

GFC, puede a su discreción, por cualquier razón o por ninguna razón, cerrar, al precio del mercado prevaleciente, cualquiera o todas las posiciones abiertas de divisas extranjeras u opciones para lo cual es la contraparte, a menos que el Cliente previamente haya elegido la entrega física.
Clause ESTADO DE LA TRANSACCIÓN in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026GFC can close any position for any reason or for none (clause ESTADO DE LA TRANSACCIÓN)This capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Buried at section 34 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), 85% of the way through.

What it costsAn account that needs $1,000 of margin can be liquidated once its equity reaches $250.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA, CySEC and other ESMA regimes must give retail clients negative balance protection, so a client cannot owe more than the account holds. This contract keeps you liable for any negative balance.

GFC is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
1% marginGFC asks for 1% of contract value and can change that figure when it judges the market calls for it.REQUERIMIENTOS DE MARGEN
One hour on a margin callGFC treats one hour as a reasonable time to meet a margin call, and promises no time at all.REQUERIMIENTOS DE MARGEN
25% of required equityGFC can liquidate all or part of your positions at the traded price with no prior notice.LIQUIDACION DE POSICIONES
Balance below zeroAny negative balance remains your obligation after the account ends.TERMINACIÓN
  • Worse together with Exhibit 10Leverage advertised at 400:1 sits on a margin figure GFC can raise whenever it chooses, with liquidation as the result.
06

Bring a claim against GFC and lose it, and the contract makes you pay GFC's costs and its lawyers' fees. The same clause applies when GFC chases a balance you owe.

Why this matters

The cost of testing a refused payment is your own legal bill plus GFC's. For a small account that is more than the money in dispute.

Exhibit 6CriticalRarely seen

El cliente acepta pagar los gastos, incluyendo los honorarios de los abogados, incurridos por GFC: (a) defender cualquier queja que no haya prosperado por parte del cliente contra GFC; o (b) recolectar cualquier balance en la cuenta del cliente.
Clause JURISDICCION Y TRIBUNALES in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026You pay GFC's lawyers if your claim fails (clause JURISDICCION Y TRIBUNALES)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 10 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

Our readingRetail client agreements usually leave costs to the court that hears the case. A clause that charges the client for the firm's defence of an unsuccessful complaint puts the price of complaining on the complainant before any judge sees it.

The safety page promises FCA protection the contract never mentions

GFC's funds page says client money sits in segregated accounts under the FCA's client money rules. Neither the FCA nor segregation appears in the contract, which instead lets GFC use your account for its own protection without notice. The same site advertises leverage up to 400:1 while the contract sets margin at 1% and lets GFC change it.

Promise against contract1 clause flagged

GFC's forex page says you can trade at up to 400:1. The contract says GFC's policy is 1% margin, which is 100:1, and that GFC can change the requirement whenever it judges the market calls for it.

Why this matters

You size a position on the advertised figure. GFC can raise the margin it wants at any time, and liquidate the position if you cannot meet it.

Exhibit 10WarningHarder than usual400

El cliente reconoce el derecho de GFC para limitar el número y/o tipo de posiciones abiertas que el Cliente pueda tener, mantener o adquirir.
Clause REQUERIMIENTOS DE MARGEN in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026The claim, on Forex page, section headed Operaciones apalancadasVisit this page on the broker's siteDownload the full size image file
Our own capture of gfcmercado.com, taken on Sep 17, 2026What the contract says, clause REQUERIMIENTOS DE MARGENThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Buried at section 39 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), 98% of the way through.

Up to 3% of a deposit can go before you trade

A conversion premium of up to 3% applies when you deposit in a currency other than your GFC account currency, taken at GFC's own rate. The contract lets GFC change its charges without notice and says quoted prices already include its markup. The deposit sheet on the account documents page lists bank details and no fees at all.

Cost disclosure1 clause flagged

GFC can change its fees and charges with no prior notice, and takes them straight out of your account. Commissions alone need 30 days' notice.

Why this matters

The contract lists account opening fees, maintenance fees, price markups, order cancellation charges and transfer charges, and gives an amount for none of them. GFC's own risk disclosure tells you to get a clear explanation of every charge before you trade.

Exhibit 8WarningHarder than usual

GFC podrá cambiar los cargos y/o cuotas, pero no las comisiones, sin notificación previa.
Clause CARGOS PAGADOS POR EL CLIENTE in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference

Where it sits: section 5 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give a retail client the costs of a service before providing it, and keep that information up to date. This contract reserves the right to change charges without notice.

GFC is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

The contract sets no withdrawal terms at all

Nothing in the GFC client agreement promises to return your money, sets a deadline or names a fee. The whole procedure is a one page form you print, sign and send. The 2015 version of that form charged $35 for an international wire and offered a free cheque instead.

Getting paid1 clause flagged

Nothing in the GFC client agreement promises to pay your money back, sets a deadline or names a fee. To take money out you print a one page form, sign it and send it in.

Why this matters

With no deadline written anywhere, a slow payment breaks no term you agreed. The 2015 version of the same form charged $35 for an international wire and offered a free cheque instead.

Exhibit 9WarningHarder than usual

Your request will be processed within three business days of receiving this form by fax unless the account is to be closed.
Quoted in Funds Request (archived 2015-11-25), p.1
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 6No promised payout date and a costs clause against failed claims leave a delayed withdrawal with nowhere cheap to go.

GFC can close any position for any reason or for none

The contract lets GFC close any or all open positions at the going price, for any reason or for no reason. At 25% of required margin it can liquidate without notice, and any negative balance stays your debt. Using the platform counts as acceptance of the whole contract, and GFC can pass the agreement to another broker.

Control of your positions2 clauses flagged

The application has you tick that you have read and understood four documents. GFC's account documents page publishes one of them, the client agreement.

Why this matters

You sign for terms you cannot read. The Trading Regulations the contract calls part of the whole agreement are nowhere on the site, and the risk disclosure sits at an address no page links to, in English only.

Exhibit 11WarningHarder than usual

El cliente reconoce acuerdo y entendimiento de cada documento que se indica a continuación marcando la casilla correspondiente al lado de cada título:
Quoted in Solicitud de cuenta individual
Downloaded from the broker's site on Open the reference

Where it sits: section 7 of 33 in the Solicitud de cuenta individual, near the start.

Your use of the trading system counts as full acceptance of the contract, signed or not. GFC can hand the agreement to another broker, while you may not transfer your rights to anyone.

Why this matters

You can end up a client of a firm you never chose, on terms you accepted by logging in. The privacy policy can also change on 10 working days' notice, and trading on after that counts as agreement.

Exhibit 14WarningHarder than usual

Cualquiera de los derechos que el cliente pueda tener conforme a este Acuerdo no se asignará, transferirá, venderá a otro tercero. GFC puede, sin embargo, asignar este convenio a otros corredores de divisas extranjeras u opciones.
Clause ASIGNACIÓN in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference

Where it sits: section 23 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), 57% of the way through.

You get 48 hours, and then your silence counts as agreement

GFC gives you 48 hours to challenge a trade report, counted from when the information becomes available rather than when you read it. Miss that and the contract treats every action GFC took as ratified. Sue GFC and lose, and you pay GFC's legal costs. The only outside complaint number the site names is GFC's own line.

Time to object1 clause flagged

The privacy policy tells you that you can also complain to the Information Commissioner, and gives the number +800 672 1342. That is the same number GFC gives for its own client services department.

Why this matters

The one independent complaint route named anywhere on the site sends you back to GFC. No regulator, ombudsman or compensation scheme is named in any document we read.

Exhibit 13WarningRarely seen

También puede presentar una queja al Comisionado de Información al teléfono: +800 672 1342.
Quoted in Política de Privacidad
Read from the broker's site on Open the reference

Our readingPointing a data protection complaint at a regulator is ordinary. Printing the firm's own client services number as that regulator's contact means the escalation never leaves the firm.

The company you pay is not the company you signed with

GFC's deposit sheet sends pesos to GFC Capital SA, a name that appears in no GFC legal document. The contract is with Global Financial Contracts, and it sends any dispute to a court in London, or to arbitration in the United States if GFC prefers. No claim can start more than two years after the complaint arose.

Who holds the money2 clauses flagged

Any dispute goes to a court in London, or to arbitration in the United States if GFC chooses that instead. GFC picks, not you.

Why this matters

A client in Mexico has to travel to England to be heard, and English law governs. No claim can start more than two years after the complaint arose.

Exhibit 7WarningHarder than usual

EL CLIENTE ACEPTA QUE CUALQUIER CONTROVERSIA ENTRE GFC Y EL CLIENTE QUE SURJA DE ESTE CONTRATO, RESPECTO A LA MANERA DE SOLUCIONARLO, DEBERA DE SER LITIGADO POR UN TRUBUNAL SITUADO EN LONDRES, INGLATERRA O A DISCRECION DE GFC ARBITRADO EN E.E.U.U.
Clause JURISDICCION Y TRIBUNALES in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference

Where it sits: section 10 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

GFC's jurisdiction notice says gaming laws vary around the world and that each time you place a bet with GFC you declare you are over 18. It describes what you do as taking part in a game.

Why this matters

The legal page covering the whole site treats your account as betting, not investing. The marketing on the same site sells access to financial markets.

Exhibit 16NoticeRarely seen

cada vez que coloca una apuesta con GFC usted declara que tiene más de 18 años de edad y que también tiene la edad mínima requerida para participar en dicho juego de acuerdo con su sistema legal nacional/local respectivo
Quoted in Aviso de Jurisdicción
Read from the broker's site on Open the reference

Our readingA broker's jurisdiction notice normally addresses financial promotion rules and restricted countries. Wording drawn from gambling operators leaves it unclear which body of law GFC considers itself to be under.

Your identity documents travel by email, and you sign away your credit file

GFC asks you to email copies of your ID and a proof of address to open an account. The application authorises GFC to pull your credit profile from Experian and others. The privacy policy adds credit reference and fraud prevention agencies, which can link your file to anyone GFC treats as your financial associate.

What you hand over1 clause flagged

GFC asks you to email copies of your identity document and proof of address. The application also authorises GFC to pull your credit profile from Experian and other agencies.

Why this matters

One form signs away your credit file as well as your account. The privacy policy lets credit reference agencies link your record to anyone GFC treats as your financial associate, which affects their future credit applications too.

Exhibit 12WarningHarder than usual

Al firmar, usted está proporcionando "instrucciones por escrito" al GFC bajo el Fair Credit Reporting Act autoriza GFC para obtener información de su perfil de crédito u otra información personal a terceros Experian y de otro tipo (incluyendo el crédito que comunicó entidades).
Quoted in Solicitud de cuenta individual
Downloaded from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026What the contract says, clause Divulgación de Sus DatosVisit this page on the broker's siteDownload the full size image file

Where it sits: section 13 of 33 in the Solicitud de cuenta individual, 39% of the way through.

GFC trades against you and keeps the spread it quotes

The contract says GFC or an affiliate will normally be the counterparty to your trades, and keeps GFC's right to earn from the dealer spread on top of its charges. GFC's own quotes are the only reference price named. If a paid agent runs your account, the power of attorney has you waive any objection to the agent earning per trade.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

The other side of your trade1 clause flagged

GFC or an affiliate is normally the counterparty to your trades. On top of its charges, the contract keeps GFC's right to earn from the dealer spread on those same trades.

Why this matters

Your loss is the house's gain, and GFC's own quotes are the only price you can check against. If a paid trading agent runs your account, you waive any objection to the agent earning per trade.

Exhibit 15WarningStandard wording

El cliente entiende y acepta que GFC o un afiliado de GFC en las circunstancias normales del Mercado será la contraparte a las transacciones del cliente con divisas o que puede fincar las mismas con una tercera parte más.
Clause TERCERAS CONTRAPARTES Y AGENTES INDEPENDIENTES in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference

Where it sits: section 9 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), near the start.

The contract names a UK regulator that closed in 2013

The GFC client agreement describes the company as registered in England and regulated by the FSA. The FSA stopped regulating firms in 2013, when the FCA took over. GFC's website says the company is a St Lucia international business company with registration number 2024-00376 and names no regulator. The privacy policy still cites the Data Protection Act 1998.

Who regulates this1 clause flagged

The client agreement describes GFC as a company registered in England and regulated by the FSA. The FSA stopped regulating firms in 2013, when the FCA took over.

Why this matters

The document you sign tells you a UK regulator stands behind GFC. GFC's own website says the company is registered in St Lucia and names no regulator at all.

Exhibit 17NoticeHarder than usual

una empresa registrada en Inglaterra y regulada por el - FSA -
Quoted in Reglamentos (Contrato para operar monedas extranjeras y CFDs)
Read from the broker's site on Open the reference
Our own capture of gfcmercado.com, taken on Sep 17, 2026The claim, on Homepage legal information blockVisit this page on the broker's siteDownload the full size image file
Our own capture of gfcmercado.com, taken on Sep 17, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

Buried at section 31 of 40 in the Reglamentos (Contrato para operar monedas extranjeras y CFDs), 78% of the way through.

Set against a regulated standard: FCA (UK)

Firms authorised by the FCA appear on a public register and give their reference number in client documents. This contract names a body that no longer exists and gives no register number.

GFC is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The safety page invokes the FCA's client money rules while the contract lets GFC apply your deposits for its own protection without notice.

Said in public, in Spanish

Tenemos fondos de los clientes minoristas en cuentas segregadas en bancos de primer nivel, de conformidad con las normas de dinero de clientes de la FCA.

Word for word in English: We hold retail client funds in segregated accounts at top tier banks, in accordance with the FCA's client money rules.

Safety of your funds page, section headed Cuentas Segregadas

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of gfcmercado.com

In the contract · clause LIQUIDACION DE POSICIONES

Sin embargo, cuando GFC lo juzgue necesario o recomendable para la protección de GFC, GFC esta autorizado bajo su discreción y sin previo aviso Cliente, para compensar cualquier posición en la cuenta y para vender depósitos paralelos con GFC o con sus afiliados.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of gfcmercado.com

02

The company you contract with is named as a St Lucia entity, while the peso deposit account is in the name of GFC Capital SA.

Said in public, in Spanish

Global Financial Contracts Ltd. está constituida conforme a la Ley de Sociedades Comerciales Internacionales, Cap 12.14: Sección 6 con número de registro 2024-00376 with registered and physical address at Ground Floor, La Place Creole Building, Rodney Village, Rodney Bay, Gros-Inlet, St. Lucia.

Word for word in English: Global Financial Contracts Ltd. is incorporated under the International Business Companies Act, Cap 12.14: Section 6 with registration number 2024-00376 with registered and physical address at Ground Floor, La Place Creole Building, Rodney Village, Rodney Bay, Gros-Inlet, St. Lucia.

Legal information block, repeated in the site footer

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of gfcmercado.com

In the contract

Beneficiario: GFC Capital SA

03

The forex page says the price you see is the price you get, while the deposit sheet adds up to 3% on any converted deposit.

Said in public, in Spanish

Ofrecemos a los operadores diferenciales muy cerrados en más de 120 pares de monedas, de manera que los precios que usted ve son los que obtiene.

Word for word in English: We offer traders very tight spreads on more than 120 currency pairs, so the prices you see are the prices you get.

Forex page, section headed Precios basados en oferta y demanda

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In the contract

El tipo de conversión será la tasa GFC Solicitada (Compra) actual más una prima por conversión de hasta 3%.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of gfcmercado.com

04

The advertised 400:1 has no counterpart in the contract, which sets margin at 1% and lets GFC change it at will.

Said in public, in Spanish

Con nuestros productos forex spot, como cliente de GFC, usted puede apalancar su operación hasta 400:1.

Word for word in English: With our spot forex products, as a GFC client, you can leverage your trading up to 400:1.

Forex page, section headed Operaciones apalancadas

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In the contract · clause REQUERIMIENTOS DE MARGEN

La política de GFC es el de solicitar 1% del margen del valor del contrato manteniéndolo en todo momento que la posición se mantenga abierta, sin embargo, se reserva el derecho de variar las cantidades del margen requerido dando su percepción del mercado, de la existencia de una exigencia del mercado o un riesgo.

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05

The contact form promises nothing goes to third parties, while the privacy policy lists brokers, business partners and credit agencies among the recipients.

Said in public, in Spanish

NOTA: la información que usted nos suministre no será usada, vendida u ofrecida a terceros y exclusivamente para el propósito de permitir a nuestro personal establecer contacto con usted para informarle de nuestros productos y servicios.

Word for word in English: NOTE: the information you give us will not be used, sold or offered to third parties and only for the purpose of letting our staff contact you to tell you about our products and services.

Note under the contact form

In the contract · clause Divulgación de Sus Datos

para presentar a corredores u otros socios de negocios;

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06

The website presents a St Lucia company registered in 2024, while the contract presents an English company regulated by the FSA.

Said in public, in Spanish

Global Financial Contracts Ltd. está constituida conforme a la Ley de Sociedades Comerciales Internacionales, Cap 12.14: Sección 6 con número de registro 2024-00376

Word for word in English: Global Financial Contracts Ltd. is incorporated under the International Business Companies Act, Cap 12.14: Section 6 with registration number 2024-00376

Homepage legal information block

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In the contract

una empresa registrada en Inglaterra y regulada por el - FSA -

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What changed quietly

This is our first reading of GFC, so there is nothing yet to compare it against.

  • REMOVEDClause · 2015-11-25 (archived) to Revised: 6/23/06

    The 2015 form let you pick a wire at $35 or a free cheque; the form published now carries no method or fee section.

The documents this reading is based on

17 files, all published by GFC. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording GFC publishes.

How this reading was done

Every clause above was read out of a document GFC publishes itself

This reading was published on .

Documents
12 of 17downloaded from the broker's site, and 12 read in full
Pages opened
23pages walked to find those documents, footer links included
Older copies
4earlier versions downloaded, 3 identical to the copy we hold by fingerprint
Marketing pages
2public pages set against what the contract says
Position measured
12clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Global Financial Contracts Ltd.

The contract names Global Financial Contracts and calls it a company registered in England and regulated by the FSA. GFC's website says Global Financial Contracts Ltd. is a St Lucia international business company, registration 2024-00376, and names no regulator. The beneficiary form uses a third spelling, Global Financial Contracts Limited. Peso deposits go to a fourth name, GFC Capital SA. Nothing published tells you which of these holds your money.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

GFC states the level at which it closes you out, 25% of required margin, and treats one hour as reasonable notice on a margin call. Many contracts leave both vague. The power of attorney says plainly that a paid trading agent has a reason to trade your account more. GFC runs no bonus scheme, so none of the profit locking conditions that come with one apply here. The risk disclosure it publishes is the full standard text, not a two line warning.

We could not read the withdrawal form. Its text will not come out of the file, so nothing here is quoted from it, and we quote the 2015 copy of the same form instead. One deposit sheet is published as a picture of a page, so we do not know what it says. The two account application forms render badly, and we checked both against the files on GFC's own site before quoting them. We could not find the Trading Regulations or the Confidentiality document that the application asks you to accept.

How to check any of this yourself

Every quote above links to the GFC file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document GFC publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge GFC on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 17, 2026.

If you represent GFC and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on GFC. Whether its licence is real and current is a separate check on the broker profile.

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