Who is GMGroup broker and is it worth your money? We’re here to show you everything about this offshore firm, and the final verdict is on you. Read our GMGroup review and find it all out.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | gmgroup.pro |
| Blacklisted as a Scam by: | FCA |
| Owned by: | Infinium Solutions Ltd |
| Headquarters Country: | Commonwealth of Dominica |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | 15-25% |
| Types of Assets: | Available – BTC, XRP, ETH |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | Available |
| Accepts US clients: | US traders are not accepted |
Is GMGroup Regulated? – Important Facts
GMGroup is owned by Infinium Solutions Ltd from the Commonwealth of Dominica. Whenever we face an offshore entity, we have to be skeptical about its legitimacy. Once we’ve searched for the owner, we have what to see. Infinium Solutions Ltd has another brand – FCTrading. This brand has been blacklisted in Spain, the UK, Portugal and Italy for conducting fraudulent activities. Which kind of made us suspicious towards the broker GMGroup as well.
In addition, we strongly advise you not to invest inGMGroup,24Funds and FX Tradingfraudulent brokers.
What’s Wrong With A License? – Beware Of Fraud
It turns out that GMGroup regulation is nowhere to be found. Not with the FSC of Dominica nor reputable Tier1 regulators such as FCA, ASIC, or BaFin. All in all, you should do yourself a favor and avoid the GMGroup trading scam.
Scam Warnings Against GMGroup
It seems that GMGroup presents itself as a UK-regulated firm, using the name of a legitimate company. That’s how we got an official FCA warning.
Official Warning Issued by FCA – Evidence of Fraud
According to the FCA, GMGroup Forex broker presents itself as a part of Global Markets Group Limited, a legitimate UK company. It’s another scheme tactic offshore brokers use to lure innocent clients into a scam.
Where Is GMGroup Trading Scam Active?
GMGroup scam is active in:
- Canada
- UK
- Australia
- Germany
- Spain
Other countries are also affected, so pay great attention to any offers from this investment firm.
Also remember the names of theTradixa,RTALiveandWinHycm trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
GMGroup.pro Trading Reviews – The Truth About Trading Scam
Instead of us talking and convincing you, we will show you a couple of examples of GMGroup reviews.
“Do not use this company. Do not give them your details, such as debit card passport. This company are scammers. When they get your money and supposedly invest it for you they will ask you to upgrade when you see the figures they are showing which look really good. Then try and get money withdrawn and you hit a brick wall nobody replies to your emails. Please avoid this company or you will loose your money.”
– Trustpilot customer
“Don’t invest money this fake company
I’m scammed already so don’t listen chit people”
– Trustpilot customer
Trading Platform Review – Trading Software
GMGroup’s trading platform is not as representative as you may hope. The broker offers a plain WebTrader, not even close to MT4 or MT5.
GMGroup WebTrader
While it may look like a trading opportunity, GMGroup WebTrader is far from that. Even if we put aside the lack of charts and indicators, this platform has no special tools or features. Social trading is impossible, while you will find limited tools, such as Stop Loss and Take Profit.
Also, GMGroup login via mobile is not enabled, so you will have to use your browser each time.
What Products Does GMGroup Offer?
GMGroup offers a standard range of trading instruments, including:
- Forex
- Commodities
- Indices
- Shares
- Cryptocurrencies
Trading Accounts Overview – Demo & Real Accounts
Here’s the list of GMGroup account types:
- Basic – $250
- Bronze – $5,001
- Silver – $15,001
- Gold – 50,001
- Platinum – 150,001
- Diamond – $500,001
- Black – 1M+
As you can tell, GMGroup’s initial deposit is $250, pretty much standard for the investment industry.
GMGroup.pro Demo Account As a Lure
GMGroup’s Demo account is available upon request, but it’s just a lure. Once you invest real money, withdrawals will be impossible.
GMGroup Deposit Methods – How To Deposit?
There’s not a variety of deposit methods. Clients can use:
- Debit/credit card
- Wire transfer
- Bitcoin
There’s nothing about fees, but we’re sure the company will make sure that you will pay for any transfer fee there is.
GMGroup Welcome Bonus Scam
Here we have come to the utmost scam – GMGroup bonus. The company offers 15-25% on the initial deposit, depending on the starting amount. However, you will not be able to make any withdrawals before you repay the bonus plus the initial deposit 25 times. It means that even if you start with the minimum deposit, you will have to repay $7,187 to be able to withdraw your funds.
Scammed By GMGroup Broker? – Talk To Our Recovery Experts
If you fall victim to the GMGroup scam, let us know. Our recovery specialists may assist you with the chargeback procedure and help you get your money back. Don’t let scammers run with your money.
Contact us via online chat to book your FREE consultation, and let’s refund you right away!