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Contract reading

What GFX Securities legally published, but does not want you to read

Every clause below is published by GFX Securities 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: Gilgamesh Financial Services

sole discretionwithdrawalscard termshidden feeregulatory statuscomplaint deadlinebonus lockclient agreementconflict of interestdata sharing

GFX Securities publishes twelve legal documents and no trading contract. Every page footer says it holds a Mauritius licence. Its own risk assessment, on that same page, calls the firm an applicant for it. Withdrawals are capped at $10,000 a month, and a quiet month of trading costs you 2% of your capital.

Back to GFX Securities

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.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
18
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
3

How the 18 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.

Critical7
Warning10
Notice1

section 27 of 34is where the deepest clause sits, 79% of the way into 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.

4 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.

Critical12In the contract. Jump to the clause this comes from.No trading contract is published anywhere on the siteCritical2%Fee on an unused account. Jump to the clause this comes from.Two percent of your capital taken for trading too littleCritical$10000Withdrawal limit. Jump to the clause this comes from.Withdrawals capped at ten thousand dollars a monthCritical3 daysTime to complain. Jump to the clause this comes from.Three days to dispute a card transaction

What the documents say

18 clauses worth knowing about, worst first, each quoted from GFX Securities's own files

01

Every page on the GFX Securities site tells you the firm is licensed as an Investment Dealer in Mauritius. The risk assessment, printed on that same page, says the firm is an applicant for that licence.

Why this matters

A licence claim is the main reason you would trust this firm with a deposit. GFX Securities makes that claim on every page while its own compliance file describes the licence as still being sought.

Exhibit 1CriticalRarely seen

At the moment, Gilgamesh Financial Services and/or GFX Securities and/or the Company is in the position of an applicant for a Full Investment Dealer License (excluding Underwriting) that is granted by the Financial Services Commission of Mauritius (MFSC).
Clause 4. business characterisation in Risk Assessment
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026The claim, on Site-wide footer statement, shown on every page including the risk assessmentVisit this page on the broker's siteDownload the full size image file
Our own capture of gfxsecurities.com, taken on Sep 17, 2026What the contract says, clause 4. business characterisationVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must describe their regulatory status accurately in every client communication, and that status is checked against a public register. This document set describes the same licence two ways on one page.

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

Our readingBrokers commonly overstate what a licence covers. Publishing a compliance document that calls the licence an application, directly above a footer stating the licence is held, puts both versions on one screen.

02

The legal page lists twelve documents and none of them is the agreement that governs your trading account. The link marked Terms and Conditions opens the terms for a debit card.

Why this matters

You cannot read what you are signing before you pay. The AML policy says the customer agreement is sent only after your identity has been verified.

Exhibit 14CriticalRarely seen12

View our legal documents before proceeding to start trading.
Clause Legal Documents in Legal
Read from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026No trading contract is published anywhere on the site (clause Legal Documents)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client the terms of business before the client is bound by them. Here the terms arrive after the client has handed over identity documents.

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

Our readingBrokers routinely bury a client agreement in a footer or a long file. Publishing a full legal shelf with the client agreement missing from it, and releasing that agreement only after identity checks, leaves you reading everything except the contract.

  • Worse together with Exhibit 2No contract to read, and three candidate companies to read it against.
03

Trade fewer than 30 times in a month, or turn over less than 10% of your balance, and GFX Securities deducts 2% of your capital. The clause sits near the bottom of the withdrawal policy, and no pricing page mentions it.

Why this matters

A quiet month costs you $200 on a $10,000 account. The clause sets no limit on how often it applies.

Exhibit 5CriticalRarely seen2%

2% of the capital value will be deducted if the trading activity occurs on the account is less than 30 trade or less than 10% from the account balance for a full month.
Clause Withdrawals 12 in Deposits and Withdrawals Policy
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026The claim, on Withdrawals clause 5, seven paragraphs above the deduction clauseVisit this page on the broker's siteDownload the full size image file
Our own capture of gfxsecurities.com, taken on Sep 17, 2026What the contract says, clause Withdrawals 12Visit this page on the broker's siteDownload the full size image file

Buried at section 25 of 34 in the Deposits and Withdrawals Policy, 74% of the way through.

What it costsA $10,000 account that trades 29 times in a month loses $200. A $50,000 account in the same month loses $1,000.

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

Firms licensed by the FCA or CySEC must disclose all costs and charges to a retail client before they trade, in a fee schedule the client can read. This charge appears only inside the withdrawal policy.

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

Our readingInactivity fees are normally a flat monthly amount, often around ten dollars, and they stop when the balance runs out. A charge set as a percentage of capital, triggered by a trade count, takes more from a bigger account for doing nothing.

04

You can take out at most $10,000 a month, whatever your balance. Use the full limit and GFX Securities holds your next request until you send proof that the earlier payment reached you.

Why this matters

A $60,000 balance needs six months to reach you. The same policy also promises your whole capital and profits inside 7 to 14 days, and both cannot be true.

Exhibit 4CriticalRarely seen$10000

Each withdrawal maximum limit is 10 000 USD per month. If this limit is requested in full by one or more withdrawals by the client, then the next available withdrawal request would be initiated for processing by the Company only after the client sends a proof that he received the previously requested withdrawal/s.
Clause Withdrawals 3 in Deposits and Withdrawals Policy
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026Withdrawals capped at ten thousand dollars a month (clause Withdrawals 3)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 16 of 34 in the Deposits and Withdrawals Policy, 47% of the way through.

What it costsWithdrawing a $60,000 balance takes six monthly requests at the $10,000 limit. Each one waits on proof that the last payment arrived.

Our readingMonthly caps normally follow a payment method's own limits. A flat cap on everything you withdraw, with the next request held until you evidence receipt of the last, puts the burden of proving payment on the person waiting to be paid.

  • Worse together with Exhibit 5Your exit is rationed by the month while a charge runs against the capital still sitting there.
05

GFX Securities can cancel any trade it has already executed if it decides a technical, system or pricing error caused it. Its own server is the only price source the contract lets you rely on.

Why this matters

A winning trade can be undone after it closed, on the firm's own judgement about its own prices. The contract limits the firm's excuse for losses to causes beyond its reasonable control, but puts no such limit on the cancellation itself.

Exhibit 6CriticalHarder than usual

The Company reserves the right to temporarily suspend or restrict trade execution, or to cancel any transaction executed as a result of a technical, system, or pricing error, including connection issues or malfunctions in the Company’s systems or third-party systems. The Company shall not be liable for any losses or damages arising from such cases, provided they result from technical factors or circumstances beyond the Company’s reasonable control.
Clause 4. technical risks in Risk Disclosure
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026Executed trades can be cancelled for a pricing error (clause 4. technical risks)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must take all sufficient steps to get the best result for a retail client and must be able to show their prices against external references. This contract makes the firm's own server the only price you may rely on.

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

  • Worse together with Exhibit 13The firm that sets the price is also the firm that decides the price was wrong.
06

You get 3 days from the transaction date to report an error or an unauthorised charge on the GFX card. Miss it and the firm says it may not be able to investigate.

Why this matters

A statement you check weekly is already too late. The three days run from the transaction, not from the day you notice it.

Exhibit 7CriticalRarely seen3 days

The Client must review their Account statements regularly and promptly report any errors or unauthorized transactions. Any disputes must be reported within 3 days of the transaction date. Failure to do so may limit the Company’s ability to investigate or rectify the matter.
Clause 8. statements and disputes in GFX Card terms & conditions
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026Three days to dispute a card transaction (clause 8. statements and disputes)Visit this page on the broker's siteDownload the full size image file

Where it sits: section 12 of 23 in the GFX Card terms & conditions, 52% of the way through.

What it costsA charge made on a Friday must be disputed by Monday. A card used while you are away for a week cannot be disputed at all.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must let a consumer report an unauthorised payment for up to 13 months after it leaves the account, and must refund it unless the consumer acted fraudulently or with gross negligence. This agreement gives you three days.

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

Our readingPayment card rules in most major markets give a consumer months to report an unauthorised transaction. Three days from the transaction date is shorter than a weekend followed by a bank holiday.

  • Worse together with Exhibit 8Three days to report, and full liability for every charge until you do.

Three company names, and no compensation scheme behind any of them

GFX Securities uses three company names across one document set, and the risk disclosure names GFX Investment Group Limited as the party to your Agreement. The footer names Gilgamesh Financial Services as the licensed firm. The same risk disclosure states that no statutory compensation arrangement protects you.

Who holds your money2 clauses flagged

The risk disclosure says your agreement is with GFX Investment Group Limited. The footer on every page says the licensed firm is Gilgamesh Financial Services, trading as GFX Securities. Three names, and no document connects them.

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.

Why this matters

You need one name to put on a complaint or a claim. GFX Securities gives you three and explains none of them.

Exhibit 2CriticalRarely seen3

This document forms an integral part of the Agreement between GFX Investment Group Limited (the Company) and the Customer.
Clause 1. Introduction in Risk Disclosure
Downloaded from the broker's site on Open the reference
Our own capture of gfxsecurities.com, taken on Sep 17, 2026The claim, on Site-wide footer statement, shown beneath the risk disclosureVisit this page on the broker's siteDownload the full size image file
Our own capture of gfxsecurities.com, taken on Sep 17, 2026What the contract says, clause 1. IntroductionVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must identify the contracting entity clearly before a retail client is bound. Here the licence claim and the Agreement name different companies.

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

Our readingBrokers often run a brand name alongside a registered company. Naming a third company as the party to the client Agreement, in the one document that says who you contract with, leaves the counterparty unsettled.

  • Worse together with Exhibit 1The firm named in the licence claim is not the firm named as party to your agreement.
  • Worse together with Exhibit 14With no client agreement published, nothing resolves which of the three companies takes your money.

The risk disclosure tells you that you deal with the firm at your own risk and are not protected by any statutory compensation arrangements. No investor compensation scheme is named anywhere in the document set.

Why this matters

If GFX Securities cannot pay you, there is no fund to claim against. Your deposit is only as safe as the company holding it.

Exhibit 3WarningStandard wording

Every Customer should deal with the Company at their own risks and shall not be protected by any statutory compensation arrangements in any event whatsoever.
Clause 1. Introduction in Risk Disclosure
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA are covered by the Financial Services Compensation Scheme, and CySEC firms by the Investor Compensation Fund, both of which pay clients when a firm fails. This contract states that no such arrangement applies.

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

The card charges you from a schedule nobody can read

GFX Securities charges for card issuing, ATM withdrawals, currency conversion and replacements under a fee schedule it does not publish. Using the card authorises the firm to take those charges straight from your account. The deposit policy also puts your bank's charges, any intermediary's charges and the firm's own institution's charges on you.

Cost disclosure2 clauses flagged

GFX Securities can charge you for issuing the card, ATM withdrawals, foreign currency and replacements, under a fee schedule. That schedule is not on the site, and using the card lets the firm take the charges straight from your account.

Why this matters

You agree to charges you cannot read before you agree to them. The legal page lists twelve documents and no fee schedule among them.

Exhibit 9WarningHarder than usual

Fees may apply for card issuance, ATM withdrawals, foreign currency transactions, or replacement cards, as detailed in the Company’s Fee Schedule. By using the Card, the Client authorizes the Company to deduct applicable fees directly from their Account.
Clause 6. fees and charges in GFX Card terms & conditions
Downloaded from the broker's site on Open the reference

Where it sits: section 10 of 23 in the GFX Card terms & conditions, 43% of the way through.

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

Firms licensed by the FCA or CySEC must give a retail client the costs and charges of a service before the client is bound by it. This agreement points at a schedule the client cannot reach.

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

GFX Securities says it charges no withdrawal fee, then puts the charges of your bank, any intermediary bank and its own financial institution on you.

Why this matters

The firm's own banking costs come out of your withdrawal. No document tells you what they are before you ask for your money.

Exhibit 10WarningHarder than usual

Withdrawal via bank wire requires 7 to 9 business days to complete. While we do not charge any fees, you may still need to pay other charges made by the banks and any intermediaries involved at your expense.
Clause Withdrawals 5 in Deposits and Withdrawals Policy
Downloaded from the broker's site on Open the reference

Where it sits: section 12 of 34 in the Deposits and Withdrawals Policy, 35% of the way through.

Ten thousand dollars a month, and proof before the next one

GFX Securities caps your withdrawals at $10,000 a month and holds the next request until you prove the last payment reached you. Money returns only to the account it came from, and the firm can refuse another destination without giving reasons. The same policy separately promises your whole capital back within 7 to 14 days.

Exit conditions1 clause flagged

Money goes back only to the account it came from. If you ask GFX Securities to pay somewhere else, the policy lets it refuse and says it does not have to give reasons.

Why this matters

A closed card or a dead bank account leaves you asking for an exception the policy already lets the firm decline in silence.

Exhibit 12WarningHarder than usual

At its direction, the Company reserves the right to reject instruction to process return of funds to a different account without providing reasons.
Clause Withdrawals 2 in Deposits and Withdrawals Policy
Downloaded from the broker's site on Open the reference

Where it sits: section 15 of 34 in the Deposits and Withdrawals Policy, 44% of the way through.

One withdrawal cancels every credit on the account

GFX Securities cancels and deducts all credits and bonuses in full when you withdraw any amount, or move funds to your wallet. It can also refuse or cancel a bonus at its sole discretion where it suspects abuse. No separate bonus terms exist: the rules are four paragraphs at the foot of the withdrawal policy.

Bonus lock1 clause flagged

Take out any amount, or move funds to your wallet, and every credit and bonus on that account is cancelled and deducted in full. GFX Securities can also refuse or cancel a bonus at its sole discretion where it suspects abuse.

Why this matters

A partial withdrawal costs you the entire bonus, not a share of it. Taking out $100 can remove a $1,000 credit.

Exhibit 11WarningHarder than usual

In the event that the client withdraws any amount from the trading account, or transfers any funds from the trading account to the wallet (Client Portal), all credited amounts (Credit) or trading bonuses (Bonus) available on that account shall be automatically cancelled and deducted in full.
Clause Withdrawals 13, Bonus and Re-Deposit Policy in Deposits and Withdrawals Policy
Downloaded from the broker's site on Open the reference

Buried at section 27 of 34 in the Deposits and Withdrawals Policy, 79% of the way through.

What it costsAn account with a $1,000 credit loses all of it on a $100 withdrawal. The credit does not shrink in proportion.

The card terms change by notice and using the card accepts them

GFX Securities can amend the card terms by email or a message in the account portal, and your continued use counts as acceptance. It can suspend or cancel the card at any time, with or without cause. Notice is whatever the firm chooses to send you.

Change and withdrawal1 clause flagged

GFX Securities can amend the card terms by sending notice to your email or the account portal. Carrying on using the card counts as your acceptance. It can also suspend or cancel the card at any time, with or without cause.

Why this matters

You accept changes by doing nothing except using your own card. The firm can withdraw the card with no reason given.

Exhibit 17WarningHarder than usual

يجوز للشركة تعديل هذه الشروط والأحكام من خلال تقديم إشعار مسبق إلى العميل عبر البريد الإلكتروني أو بوابة الحساب أو أي قنوات رسمية أخرى. ويُعد استمرار العميل في استخدام البطاقة بعد إجراء أي تعديلات قبولًا منه للشروط المعدلة.
Clause ١٢ in GFX Card Terms and Conditions (Arabic)
Read from the broker's site on Open the reference

Buried at section 16 of 23 in the GFX Card Terms and Conditions (Arabic), 70% of the way through.

Three days to dispute a card charge, and nowhere to escalate

GFX Securities gives you 3 days from the transaction date to report an error or an unauthorised card charge. You carry every unauthorised transaction until you report it, with no cap on the amount. The complaint procedure names no regulator or ombudsman to take an unresolved case to.

Complaint window2 clauses flagged

If your GFX card or PIN is used by someone else, you are responsible for every transaction until you tell the company. The contract puts no cap on that amount.

Why this matters

A stolen card used overnight can empty your balance, and the loss stays yours until the call connects.

Exhibit 8WarningHarder than usual

The Client must notify the Company immediately if the Card is lost, stolen, or misused. Until the Company is notified, the Client remains responsible for any transactions made using the Card.
Clause 7. loss, left and misuse in GFX Card terms & conditions
Downloaded from the broker's site on Open the reference

Where it sits: section 11 of 23 in the GFX Card terms & conditions, 48% of the way through.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA cap a consumer's liability for unauthorised card payments at 35 pounds before the card is reported lost or stolen, unless the consumer acted fraudulently. This agreement sets no cap.

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

The complaint procedure routes everything to GFX Securities staff and names no regulator, ombudsman or outside scheme to escalate to. It also tells you not to describe the problem emotionally.

Why this matters

If the firm decides against you, the published procedure offers you nowhere to take it. The timelines it does commit to are short, but the firm is the only judge.

Exhibit 18WarningHarder than usual

ويجب على العميل عدم استخدام لغة غير لائقة أو مسيئة أو تقديم وصف عاطفي للمشكلة.
Clause ٢. تقديم الشكوى in Complaint Handling Procedure (Arabic)
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a complaining client about an independent ombudsman and the right to take the complaint there. This procedure ends at the firm's own inbox.

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

Your file is kept for as long as the firm decides

The GFX Securities privacy policy keeps your personal data for a period the firm sets, with no limit stated anywhere. It shares that data with whoever referred you, with third party providers, and sends app registration events to TikTok. Visiting the website counts as your consent.

Your data1 clause flagged

The privacy policy keeps your personal data for a period the company decides, with no limit stated. It shares data with whoever referred you, with third party providers, and sends app registration events to TikTok.

Why this matters

The affiliate who sent you the advert can be told you signed up. Nothing in the policy tells you when your file is deleted.

Exhibit 16WarningHarder than usual

الاحتفاظ بالبيانات: سيتم الاحتفاظ بالبيانات الشخصية لمدة تحددها الشركة، واستخدامها لغرض إطلاع العملاء على المنتجات والخدمات.
Clause ٣. حماية البيانات in Privacy Policy (Arabic)
Read from the broker's site on Open the reference

The firm sets your price and denies being your counterparty

GFX Securities states it will not deal with you as principal, then requires you to open and close every position with the Company on its own platform. It sets the prices and executes most trades through its internal systems. Its own conflicts list admits the firm may gain at your expense.

Both sides of the trade1 clause flagged

The order execution policy says GFX Securities will not deal with you as principal. The same policy has it setting the prices, executing most trades through its own internal systems, and requires you to open and close every position with the Company.

Why this matters

If the firm is on the other side of your trade, its gain is your loss. These documents do not let you tell whether it is.

Exhibit 13WarningHarder than usual

لن تدخل الشركة في معاملات مع العميل بصفتها أصيلًا (طرفًا مقابلًا). ويتعين على العميل فتح وإغلاق مركز في أي أداة مالية معينة مع الشركة من خلال منصة التداول الخاصة بها.
Clause ٦ in Order Execution Policy (Arabic)
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must tell a retail client, before trading, whether the firm is the counterparty to that trade. This policy states both that the firm is not the counterparty and that every position is opened with the firm.

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

Twelve legal documents, and none of them is your contract

GFX Securities publishes twelve documents on its legal page and none is the agreement that governs a trading account. The link marked Terms and Conditions opens the terms for a debit card. The AML policy says the customer agreement is sent only after your identity has been verified, and those card terms send any dispute to the courts of Mauritius.

The missing contract1 clause flagged

The card terms run under Mauritius law, and any dispute goes to the exclusive jurisdiction of Mauritius courts. GFX Securities aims its legal page at traders in the Middle East, North Africa and Asia.

Why this matters

Suing in Mauritius from Cairo or Karachi costs more than most retail balances are worth.

Exhibit 15NoticeStandard wording

تخضع هذه الشروط والأحكام لقوانين جمهورية موريشيوس، وتُفسَّر وفقًا لها. وتخضع أي نزاعات للاختصاص القضائي الحصري لمحاكم موريشيوس.
Clause ١٣ in GFX Card Terms and Conditions (Arabic)
Read from the broker's site on Open the reference

Buried at section 17 of 23 in the GFX Card Terms and Conditions (Arabic), 74% of the way through.

Where the marketing and the contract disagree

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

01

The footer says the licence is held. The body of the same page says the firm is an applicant for it.

Said in public, in English

GFX Securities, Gilgamesh Financial Services is incorporated under the laws of the Republic of Mauritius and licensed as an Investment Dealer, holding license number GB21027073, with its registered address at 3rd Floor, Ebene Skies, Rue de I Institut, Ebene, Republic of Mauritius trading Group of companies.

Site-wide footer statement, shown on every page including the risk assessment

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

In the contract · clause 4. business characterisation

At the moment, Gilgamesh Financial Services and/or GFX Securities and/or the Company is in the position of an applicant for a Full Investment Dealer License (excluding Underwriting) that is granted by the Financial Services Commission of Mauritius (MFSC).

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

02

The footer names Gilgamesh Financial Services as the licensed firm while the document above it names GFX Investment Group Limited as the party to your agreement.

Said in public, in English

GFX Securities, Gilgamesh Financial Services is incorporated under the laws of the Republic of Mauritius and licensed as an Investment Dealer, holding license number GB21027073, with its registered address at 3rd Floor, Ebene Skies, Rue de I Institut, Ebene, Republic of Mauritius trading Group of companies.

Site-wide footer statement, shown beneath the risk disclosure

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

In the contract · clause 1. Introduction

This document forms an integral part of the Agreement between GFX Investment Group Limited (the Company) and the Customer.

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

03

The policy tells you the firm charges no fees, then sets out a 2% deduction from your capital further down the same page.

Said in public, in English

Withdrawal via bank wire requires 7 to 9 business days to complete. While we do not charge any fees, you may still need to pay other charges made by the banks and any intermediaries involved at your expense.

Withdrawals clause 5, seven paragraphs above the deduction clause

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

In the contract · clause Withdrawals 12

2% of the capital value will be deducted if the trading activity occurs on the account is less than 30 trade or less than 10% from the account balance for a full month.

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

What changed quietly

This is our first reading of GFX Securities, so there is nothing to compare it against.

  • REMOVEDClause اتفاقية العميل · 2023-01-28 to current

    A full client agreement stood on this page in 2023, naming a Bahrain company as the counterparty. Today the page is a short privacy notice and no client agreement is published anywhere on the site.

  • REWRITTENClause footer · 2026-04-10 to current

    The line naming Global Forex Authority as the party behind GFX Securities was dropped, and the Bahrain telephone number in the footer was replaced by a Mauritius one.

    Copyright © 2026 All rights reserved

  • REWRITTENClause article date · 2026-04-10 to current

    The same market commentary article now carries a date nearly ten months later, with the body substantially unchanged.

    July 21, 2026

The documents this reading is based on

18 files, all published by GFX Securities. 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 GFX Securities publishes.

How this reading was done

Every clause above was read out of a document GFX Securities publishes itself

This reading was published on .

Documents
14 of 18downloaded from the broker's site, and 14 read in full
Pages opened
30pages walked to find those documents, footer links included
Older copies
3earlier versions downloaded
Marketing pages
5public pages set against what the contract says
Position measured
10clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

Gilgamesh Financial Services

The footer on every page names Gilgamesh Financial Services, incorporated in Mauritius and trading as GFX Securities. The risk disclosure names a different company, GFX Investment Group Limited, as the party to your Agreement. The risk assessment uses that third name for its own customers. No document explains how the three relate. The risk assessment also describes the Mauritius Investment Dealer licence as one the firm has applied for, while the footer describes it as held.

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

The complaint procedure commits to answering you within two business days and settling a simple complaint within three. The risk disclosure states plainly that no statutory compensation scheme protects you, where most offshore brokers say nothing. The conflicts list admits the firm may gain at your expense and pays staff on trading volume. All twelve documents are free to read, in English and Arabic, as web pages rather than downloads.

GFX Securities publishes no client agreement, so we could not read the contract that governs a trading account. We did not open the client portal at our.gfxsecurities.com, where that agreement may be shown after signup. The card terms refer to a fee schedule that is not published, so we could not check what the card costs. Two documents listed on the legal page, the disaster recovery plan and the account deletion procedure, we did not read. We read only the first part of an archived 2023 copy of the Arabic privacy policy page, which was long.

How to check any of this yourself

Every quote above links to the GFX Securities 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 GFX Securities 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 GFX Securities 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 GFX Securities 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 GFX Securities. Whether its licence is real and current is a separate check on the broker profile.

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