Beware! GujjuFX is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


GujjuFX is yet another shady offshore broker – and, as always, we recommend you avoid such companies – here is why:

GujjuFX regulation and safety of funds

GujjuFX is completely unregulated – consequently, any funds you deposit with it are unsafe! The broker also tries to pass itself as a legitimate UK company, when nothing could be further from the truth – here is what GujjuFX refers to as a UK license:

However, this is a completely different document – a certificate of incorporation from the UK Companies House. This certificate could be forged, or it could be legitimate – this is incredibly inconsequential, when the House is simply not the regulatory body responsible for overseeing the UK markets – that is the job of the FCA. And the FCA would never license GujjuFX – the broker simply breaks a number of its policies, designed to keep traders safe.

First off, it offers leverage amounts of up to 1:1000, when ones over 1:30 have been deemed to be unsafe for retail traders. GujjuFX also issues bonuses, which are banned in the UK.

This means that the company is simply not located in England – of course, it is quite troubling that GujjuFX would lie about its whereabouts, but it also means that protections that UK traders enjoy, for example access to Negative Balance Protection and guarantee funds are not available to clients of GujjuFX! If you wish to know more about them, or even make use of them yourself, you should check out these top-rated UK companies.

GujjuFX trading software

GujjuFX provides access to a distribution of Metatrader 5 – the most sophisticated trading software out there, which grants its users access to powerful features like automated trading and much more. However, there are much better brokers out there that have the software available – here is a list of such licensed companies.

As for GujjuFX’s software, here is what it looks like:

The conditions on it are quite bad – the spreads are well over 1 pip, which is the accepted difference for the EURUSD pair and other majors like it, and the leverage goes as high as 1:500 – this is an amount most regulatory bodies have deemed unfit for the retail trader and banned. Therefore, brokers like GujjuFX have started offering them in a bid to attract more clients – if you see such a leverage advertised out there, know you are most likely dealing with a company just like GujjuFX!

GujjuFX deposit and withdrawal methods and fees

GujjuFX  does not state what deposit methods it accepts – but if you have managed to deposit with the broker, you should check if a chargeback is available to you – this is because we worry your money might be forfeit once it gets into GujjuFX’s hands. This is because the company issues bonuses on signup – and quite the generous ones at that. However, brokers have used that kind of bonus to restrict their clients’ withdrawals by binding them with some truly hefty turnover requirements. This has actually led to the banning of bonuses not just in the UK, but in the majority of regulatory jurisdictions!

How does the scam work?

GujjuFX is definitely running a scam – the company does so by following a rather ancient pattern – here is how that plays out:

Firstly, someone stumbles upon the website GujjuFX runs – and, on it, are prompted to make an account, and required to leave a phone number should they chose to do so. Once the scammers have that number, they will start calling around the clock to demand more and more money – and they will only stop once their victim has been either bled dry or realizes what’s going on – at which point, the scammers will drop them and move on to new targets!

What to do when scammed?

If you have been scammed, here are some steps you need to take to limit further losses:

First off, make sure you reissue whatever credit cards and forms of ID the scammers had access to – and get rid of whatever form of remote control software they had you install on your PC.

Secondly, contact your bank to see if you can file a chargeback – but even if one is not possible, do not trust any recovery agency which demands an upfront payment for its services – that is simply another scam!

Finally, do not hesitate to leave a comment with your own thoughts on GujjuFX below – in doing so, you will be helping us raise awareness of the scam, which is the best way to combat it!

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