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GWG

No Regulation
Cyprus
,
Since 2015
Last Updated:

Trading Conditions

Min Deposit:
USD100
Max Leverage:
200
Account Types
StandardGoldVIP+1 more

User Reviews

—
Total Reviews
—
This Month
—
Avg Rating

Funding Methods

8 methods

Wire Transfer (Bank of Cyprus)

wire transfer
3 days
Fee:
Free
Fee:
Free

Skrill

e wallet
Instant
Fee:
Free
Fee:
Free

Wire Transfer (Eurobank)

wire transfer
3 days
Fee:
Free
Fee:
Free

Neteller

e wallet
Instant
Fee:
Free
Fee:
Free

Decta

credit card
Instant
Fee:
Free
Fee:
Free

Trustly

bank transfer
Instant
Fee:
Free
Fee:
Free

EcommPay

credit card
Instant
Fee:
Free
Fee:
Free

Przelewy24

bank transfer
Instant
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 32%, 2: License 0%, 3: Software 50%, 4: Spread 0%, 5: Account Type 24%, 6: Symbol 0%
Regulation
32%Poor
License
0%Poor
Software
50%Fair
Spread
0%Poor
Account Type
24%Poor
Symbol
0%Poor

Regulatory Licenses

Regulatory Licenses:
Tier 2
Cyprus flag
Regulated
CySEC | Cyprus

Company Information

Full Name:GWG (Cyprus) Ltd
Founded:2015
Headquarters:Cyprus
Enterprise Offices:1offices

Customer Support

Phone:
+357 22008100
Live Chat:
Not Available
Response Time:
—
Languages:
English
Scroll Down
Editorial review
Updated

Broker Summary

What Wikilix has recorded about GWG: its history, the licences it holds, its trading conditions and its fees.

GWG Broker Overview

GWG was a Cyprus based forex and CFD brand that traded under the name GWG (Cyprus) Ltd from the website gwglobalfx.com. It offered around 80 currency pairs alongside metals, indices, commodities and cryptocurrencies, on MetaTrader 4 and through the ZuluTrade copy trading service, across four account tiers starting at a 100 USD minimum deposit. The brand's website no longer responds, and the Cyprus company that stood behind it has since been renamed, so GWG should be read as a dormant or discontinued brand rather than an operating broker.

GWG Regulation and License

GWG has been presented as a Cyprus Investment Firm authorised by the Cyprus Securities and Exchange Commission under licence number 291/16, held by GWG (Cyprus) Ltd. WIKILIX found no confirmation of that licence in this research, and the brand's own regulation pages are no longer reachable, so the authorisation stands as a claim and not as a confirmed licence. No other authority, jurisdiction or licence has been identified for the brand.

Is GWG Regulated?

No confirmed financial regulation was established for GWG. The CySEC authorisation attached to the brand could not be confirmed, and a Cyprus company registration is not a substitute for it.

GWG (Cyprus) Ltd and TSG BROKERS LTD

The company behind the brand is registered in Cyprus under number HE 342580 and was registered on 21 April 2015. On the Cyprus Department of Registrar of Companies and Intellectual Property register the company is live, but GWG (CYPRUS) LIMITED is recorded as a former name only. The company was first GAMETECH (CYPRUS) LIMITED, then GWG (CYPRUS) LIMITED, then NENX LIMITED, and now stands on the register as TSG BROKERS LTD, at Athalassas 54, Floor 3, Flat/Office 302, 2023, Nicosia, Cyprus. Anyone dealing with the GWG name today is dealing with a name the company itself no longer uses.

Is GWG Safe?

GWG cannot be treated as safe on the evidence available. The brand's website does not respond, its regulatory standing is unconfirmed, its operating company trades under a different registered name at a different address from the one published for the brand, and the register shows annual company returns outstanding since the filing made in July 2020. A prospective client has no working route to the firm and no confirmed supervisor to complain to.

GWG Account Types

Four tiers were offered. Standard required 100 USD and charged no forex commission, with spreads from 0.9 pips. Gold required 1,000 USD at 7 USD per lot, VIP required 5,000 USD at 3.50 USD per lot, and Professional required 10,000 USD at the same 3.50 USD per lot, the latter three quoting spreads from 0 pips. Accounts were denominated in USD or EUR.

GWG Leverage

Maximum leverage was 1:200 on the Professional account and 1:30 on Standard, Gold and VIP.

GWG Trading Platforms

MetaTrader 4 was the brand's platform, offered for Windows, macOS, iOS and Android, with ZuluTrade available for following other traders' positions.

GWG Deposits and Withdrawals

Funding ran through bank wire with Bank of Cyprus and Eurobank, the Skrill and Neteller wallets, the Trustly and Przelewy24 banking transfers, and the Decta and EcommPay card processors. Deposit and withdrawal fees were stated as zero, and bank wires took one to three business days. Bank wire withdrawals were allowed only where the client had deposited by the same route, and were returned to the originating account.

GWG Support

Support was offered 24 hours a day on weekdays by telephone on +357 22008100 and by email at support@gwglobalfx.com.

GWG Pros and Cons

  • A named Cyprus company with a real registration number that is still on the public register.
  • A conventional platform and funding line up, with zero stated deposit and withdrawal fees.
  • No confirmed financial regulation, so client money carries no established protection.
  • The website does not respond, leaving no working route to the firm.
  • The operating company no longer uses the GWG name and is registered at a different address from the one published for the brand.

GWG Review and Assessment

GWG reads as a brand that has been retired rather than one a client can open an account with. The trading terms it published were unremarkable for a Cyprus retail broker, but the two things that decide whether money is safe are both missing: a licence anyone can confirm, and a company that still answers to the name on the door. Neither the CySEC authorisation nor a live website could be established here, so no deposit should be made to the GWG brand or to any site presenting itself under that name.

Regulation check
Checked

Regulatory Licenses

GWG holds a tier-1 or tier-2 licence that we confirmed on the regulator's own register. Each licence below opens its record of what that register says.

1 of 1 checked
Licences on record
1
Confirmed on register
1
Tier 1 or 2
1
Offshore
0

WIKILIX

Licence intelligence

The only licence on file

Licence Verification Record

Cyprus Securities and Exchange Commission 291/16

Wikilix read the CySEC register on Sep 9, 2026. This is what it said.

Jurisdiction
Cyprus
Authority strength
Tier 2
Register status
Authorised
Effective
Jan 20, 2016

Checked Sep 9, 2026

What our check found

Cypriot Investment Firm (CIF) authorisation to receive, transmit and execute client orders in financial instruments, passported across the EEA under MiFID Client protection: Investor Compensation Fund up to 20,000 euros; segregated client money; negative balance protection. Effective: 20 Jan 2016.

Client protection under this licence

  • Compensation schemeUp to €20000 (ICF)
  • Client money kept separate
  • Negative balance protection
  • Complaints routeCyprus Financial Ombudsman
  • Maximum leverage1:30

These are the rules CySEC sets for the firms it licenses. They are not a statement about how GWG applies them, or about which of its companies would hold your account.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

Open the CySEC licence recordCheck it on the registerAbout CySEC
Trading accounts
Updated

Account Types

4 account types on record. Minimum deposit from USD 100. Leverage up to 1:200.

4 account types
AccountMin DepositLeverageCommission
StandardStandardUSD 1001:30Commission-free on forex; spreads from 0.9 pips
GoldGold · VIPUSD 1,0001:30$7 per lot on forex; spreads from 0 pips
VIPVIPUSD 5,0001:30$3.50 per lot on forex; spreads from 0 pips
ProfessionalProfessional · VIPUSD 10,0001:200$3.50 per lot on forex; spreads from 0 pips
Account names and conditions as published by GWG, recorded by Wikilix.
Deposits & withdrawals

Funding Methods

8 ways to fund an account. 8 with no deposit fee. 6 credit instantly.

8 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Wire Transfer (Bank of Cyprus)Wire Transfer
Bank wires took 1-3 business days to arrive and were credited on receipt. Withdrawals by bank wire were permitted only where the client had deposited by the same method, and were always returned to the originating bank account.
FreeFreeNot recordedNot recordedNot recorded3 days
SkrillE-WalletFreeFreeNot recordedNot recordedNot recordedInstant
Wire Transfer (Eurobank)Wire Transfer
Bank wires took 1-3 business days to arrive and were credited on receipt, with withdrawals returned to the originating account.
FreeFreeNot recordedNot recordedNot recorded3 days
NetellerE-WalletFreeFreeNot recordedNot recordedNot recordedInstant
DectaCredit Card1FreeFreeNot recordedNot recordedNot recordedInstant
TrustlyBank TransferOnline banking transfer.FreeFreeNot recordedNot recordedNot recordedInstant
EcommPayCredit Card1FreeFreeNot recordedNot recordedNot recordedInstant
Przelewy24Bank TransferPolish online banking transfer.FreeFreeNot recordedNot recordedNot recordedInstant

Broker's notes on these methods

  1. Card payment processor. · applies to 2 methods
Fees, limits and processing times as published by GWG, recorded by Wikilix.
Trading software

Trading Platforms

One trading platform on record: MetaTrader 4.

1 platform
  • MetaTrader 4 logo

    MetaTrader 4

    Recommended

    by MetaQuotes Software Corp.since 2005Developer site

    MetaTrader 4 was the brand's primary platform, offered for Windows, macOS, iOS and Android.

    Runs on

    • Windows
    • Mac
    • Web
    • Android
    • iOS
    Details
Platforms and download links as published by the broker, recorded by Wikilix.
Websites

Global Domains

4 domains on record. 3 active.

4 domains
  • www.gwglobalfx.comMain siteInactiveHTTPS
  • tsgbrokers.comRegionalActiveHTTPS
  • www.gwtrade.euBackupActiveHTTPS
  • tradesetgo.comBackupActiveHTTPS
Domains recorded by Wikilix. Only a domain listed here is known to belong to this broker.
Social channels

Social Presence

One official channel on record.

1 channel
Channels as published by the broker, recorded by Wikilix.
Legal entities

Corporate Network

One legal entity behind the GWG brand.

1 entity
  • TSG BROKERS LTDActiveCyprusRegistration HE 342580Established Apr 21, 2015The Cyprus company behind the GWG brand, registered on 21 April 2015 and still on the register. Its registered name has changed three times: GAMETECH (CYPRUS) LIMITED, then GWG (CYPRUS) LIMITED, then NENX LIMITED, and it now stands on the register as TSG BROKERS LTD. GWG (Cyprus) Ltd is a former name of this company, not its current one.
Entities named in the broker's own documents and company registers, recorded by Wikilix.
Company registry check
Checked

Company Registration

The operating company is TSG Brokers Ltd (formerly GWG (Cyprus) Ltd, NENX Ltd, Gametech (Cyprus) Ltd). Registered in Cyprus. Registration number HE342580.

Verified on registry
Legal entity
TSG Brokers Ltd (formerly GWG (Cyprus) Ltd, NENX Ltd, Gametech (Cyprus) Ltd)
Registration number
HE342580
Jurisdiction
Cyprus
Incorporated
Apr 21, 2015
Registry
Cyprus Department of Registrar of Companies and Intellectual Property, corroborated by the GLEIF legal entity record
Registered address
Athalassas 54, 3rd floor, Flat/Office 302, 2023 Nicosia, Cyprus
Frequently Asked Questions

Frequently Asked Questions

Common questions about GWG

Most Popular Questions

Start from the legal entity rather than the brand. The company is on the Cyprus register as TSG BROKERS LTD under number HE 342580 with a current registered office in Nicosia, which is the address a formal written demand or a lawyer's letter should go to. Anyone who believes they dealt with a CySEC authorised firm can also put the licence claim to the Cyprus Securities and Exchange Commission directly and ask it to confirm the firm's status.

The brand published an address at 18 Kyriakou Matsi Avenue, Victory Tower, Office 302, Nicosia 1082, Cyprus. The Cyprus register records the company's registered office at Athalassas 54, Floor 3, Flat/Office 302, 2023, Nicosia, Cyprus, so the two do not match.

Yes, it is the same legal entity. Cyprus company HE 342580 carried the GWG (CYPRUS) LIMITED name at one point and now carries the TSG BROKERS LTD name. The GWG name is recorded on the register as a previous name only, which is why the brand should not be treated as a live trading business.

No country policy could be established for GWG from any of its own published documents, because none of them is reachable. Its terms, client agreement, signup form, help pages and homepage disclaimer were all tried. Anyone needing to know whether a jurisdiction was served has no authoritative published answer available.

The brand published one to three business days for bank wire transfers and stated no fee, but it published no processing time for its other channels and no independent confirmation of actual withdrawal performance was established. With the site unreachable, no withdrawal route can be assumed to work today.

By bank wire with Bank of Cyprus or Eurobank, by Skrill or Neteller, by Trustly or Przelewy24 banking transfer, or by card through the Decta and EcommPay processors. Deposit and withdrawal fees were stated as zero. Bank wires took one to three business days, and a bank wire withdrawal was allowed only where the client had deposited the same way, returning to the same account.

The Standard account was commission-free on forex with spreads from 0.9 pips. Gold charged 7 USD per lot, and VIP and Professional charged 3.50 USD per lot, each quoting spreads from 0 pips. Commission was described as varying by market.

MetaTrader 4, for Windows, macOS, iOS and Android, plus ZuluTrade for following other traders' positions.

Up to 1:200 on the Professional account. The Standard, Gold and VIP accounts were capped at 1:30, which is the retail limit applied in the European Union.

The entry-level Standard account required 100 USD. Gold required 1,000 USD, VIP 5,000 USD and Professional 10,000 USD.

No. gwglobalfx.com did not respond on any address tried for it, including the locale-prefixed form of the homepage. There is currently no working route to the brand online.

There is no confirmed evidence that GWG stole client money, so it should not be called a proven scam. It should be treated as unverified and inactive: no licence could be confirmed, the website does not respond, and the operating company no longer uses the GWG name. That combination means nobody should deposit with the brand, whatever a site using the name may claim.

The brand was operated by a Cyprus company registered under number HE 342580. That company is still on the Cyprus register, but its current registered name is TSG BROKERS LTD. It was registered on 21 April 2015 as GAMETECH (CYPRUS) LIMITED, then became GWG (CYPRUS) LIMITED, then NENX LIMITED, and now trades under the TSG BROKERS name. Three directors are recorded against it.

No confirmed financial regulation was established for GWG. The brand has been presented as a Cyprus Investment Firm authorised by the Cyprus Securities and Exchange Commission under licence 291/16, but that authorisation could not be confirmed in this research, and the brand's own regulation pages are no longer reachable. It therefore stands as a claim rather than a confirmed licence.

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