The Forex and CFD broker Peto a/k/a PetoFX is operated by the UK-registered Peto Global Limited, controlled by the Chinese Guidong Zhang. Peto does not have regulatory permission to offer financial products in Europe and North America. In Australia, Peto Global (AUST.) Ltd operates as an Authorized Representative of ASIC-regulated RS Finance (Aust) Pty Ltd. PetoFX was acquired by Global Forex Service Limited, another registered agent of RS Finance (Aust.) Pty Ltd.
Key Data
| Trading names | Peto, PetoFX Peto Global Global Forex Service (GFS) |
| Business activity | Forex, CFD broker |
| Domains | https://petofx.com https://gfs-markets.com/ |
| Legal entities | Peto Global Ltd, UK Peto Global Ltd, SVG Peto Global Ltd, Hong Kong Peto Global (Aust.) Ltd Global Forex Service Limited, Hong Kong Global Forex Services Pty Ltd, Australia |
| Related individual | Guidong Zhang |
| Jurisdictions | St. Vincent & The Grenadines United Kingdom, Hong Kong, Australia |
| Authorization | Registered agent of RS Finance (Aust.) Pty Ltd |
| Payment processors | East West Bank, Perfect Money, help2pay, evirtualpay |
Short Narrative
According to an email announcement, the two platforms will merge in mid-October. In our review on 14 Oct 2022, new registrants on the Global Forex Service website have already been redirected to Peto.
Regulatory violations
Both brokers PetoFX and Global Forex Service solicit clients in EEA, offering maximum leverage of 1:500. However, the maximum leverage allowed in EEA regulatory regimes is 1:30.
In addition, PetoFX also allows pre-KYC deposits via bank transfer. Before our identity was verified, we could have deposited up to $500,000 into Peto Global Limited‘s bank account at East West Bank in California.
Share Information
If you have any information about PetoFX, Global Forex Service, and their partners, please let us know through our whistleblower system, Whistle42.
