GM4EX (Gm4ex.com) is a rotten Forex scam broker out to cause havoc in the lucrative trading world. With claims of offering expert financial advice, GM4EX is nothing but a calamity waiting to happen. Investors are asked to read this detailed and honest GM4EX review and find out the truth. Complaints have been sent by a majority of traders who have lost with this broker. Read on to find out more.
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According to what some of the users are complaining about, is lack of communication. Who can blame them? This broker has no live chat support option. This means the broker will communicate with users at their own convenience. What’s more interesting is how well these scammers have built a professional looking website. From the look of things, this broker has cooked up a neatly built website. With such enticing pictures, newbie traders will sign up.
Let your eyes not deceive you; there are a lot of flaws with their website. This website lacks a proper and detailed information guideline. This website fails to give users the required information when it comes to trading. Where is their legal agreement’s page? These scammers have created a visually appealing Forex brokerage firm to entice users into signing up. This is what scammers do, try as much as possible to grab users attention. There’s more!
Who is the person or company behind this bogus brokerage firm? Disclaimer at the footer of the homepage does not give proper details as to who actually owns this platform. And this is the first red flag we spotted with GM4EX. How do they expect users to deposit funds to an unknown third party? Why have they failed to post their legal address or ownership details? Where is GM4EX located? These are some of the hard questions we need answers to.
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Global Market Forex is the actual full name of this brokerage site. Where is this brokerage firm located? According to the disclaimer, this brokerage firm is located in Sowwah Square Tower 1, Abu Dhabi, Dubai. What we found odd is how they have used a famous spot to claim location. From our own experience, we know scammers will do or say anything to make their products appear legit. Is this brokerage firm truly registered in Abu Dhabi? We highly doubt this.
And this is where their plans get short-lived in trying to convince us this is a legit platform. Where are they licensed and can they prove to have a license number? These scammers are using fake details to try and convince investors this is a legit platform. Where are their licensing and registration certificates? GM4EX is not licensed anywhere on the face of the planet, they are not regulated. This means users are trading with an unauthorized Forex broker platform.
Make sure to stay away from these platforms as they tend to leave a bad taste. Lack of these vital documents is proof we are dealing with a quack. Make sure to stay away from this broker as they are simply out to collect funds. Even their mission statement sounds sleazy, “Your Gain. Your Goal”. Who comes up with such fake slogans? Professional scam artists based offshore.
GM4EX is enticing users using a very simply and well thought out trick, their demo account. These scammers have rigged their own demo account to entice users with fake results. Their demo account is making over 98% successful win trades every time. Even a newbie trader who doesn’t have a clue is making insane profits. Note this broker is offering virtual money to trade with their demo account.
Investors are led to believe they can make real money with this platform. They blindly do so in the hope they will mirror wins to a real account. Sadly, this is not the case, after depositing funds; they end up losing their initial deposit. And this is when the broker insists you add more funds, second time luck will occur.
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GM4EX is offering four different account types for users to trade with. These account types include Mini, Classic, Standard, and pro accounts. In order to start trading with these accounts a required deposit of $100, $1,000, $5,000, and $10,000. What we found odd was the low minimum set depository requirement. This means GM4EX is targeting all types of traders, especially newbies.
This is where it gets interesting as users will pay for the welcome bonus. And this is impossible as users will be asked to pay the bonus after money has been lost. Once your account reads zero, funds will be lost immediately.
How can funds be safe with a broker who is refusing to grant withdrawal requests? This broker has failed to issue users with valid legal agreement page. Did you know investors are depositing funds straight to owner’s personal bank account?
Where do they bank money deposited by investors? Sadly, this broker does not participate in a compensatory scheme. Investors should not expect any compensation in case this broker goes bankrupt. Could this be a money laundering scheme? These scammers give sketchy details about their trading methods which makes us question everything. Stay away from any broker who shares same character as GM4EX.
Without a shadow of doubt, this is a brutal scam out to steal funds from Forex investors. GM4EX is a scam which must be exposed for their dirty tricks. In order to stay away, make sure to ignore all their calls and sent emails. They have a nagging call agency which asks for personal details. Mark these emails as Spam and don’t click on any links sent. Warn your family and friends from investing into this shady brokerage firm.
Only way to ensure our readers stay safe is to add this broker to our scam blacklist. This will hopefully prompt authorities to investigate and shut their website down. Completely shutting down this website is the only way to prevent further destruction. Stay away from this broker and any of their affiliate programs.
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Lastly, we wish you all the best in your future Forex trading experience.
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