GMI Edge (Gmiedge.com) is a CFDs and Forex broker scam to hit the lucrative industry of Forex trading. Reason why we had to write this review is because of a Member who lost money with GMIEDGE. An investigation was underway to determine why so many people are complaining in regards to GMI Edge. Below are details of what we found in regards to this broker. Get the whole truth here!
Every trader wants the same thing, make money with Forex trading. Problem with this statement is that some Scammers take advantage of the need to make money. What GMIEdge has done is promise users that they can make this happen. How? By providing the best execution and being transparent. For a scam to take root, it must have some similar properties with a real Forex platform.
GMI Edge is no different from other scams that we have seen. They have created a website that is appealing to the eye. Don’t forget that they have also thrown in some promises that will make unsuspecting investors sign up. As an investor, don’t be fooled by the user-friendly interface, there’s more than meets the eye with GMIEdge. Here, we will reveal all the dirty tricks used by this scammer to swindle victims.
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According to the disclaimer at the bottom of the page, GMI EDGE is part of the GMI Group of companies. What they bluntly show us at the disclaimer is that they are registered in Vanuatu. This clearly means that we are dealing with an offshore broker. Offshore brokers are notoriously known to flaunt set rules and regulations. Plus, GMI Edge Limited is also apparently registered in China.
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There are a dozen registration numbers used by these scammers that’s meant to throw our investigation off. What this means is that these scammers are trying to legitimize their platform. All these registration numbers are useless if they can’t show us the registration certificates. Why haven’t they posted the registration certificates in their homepage? This is a clear sign we are dealing with a fake broker.
Certainly not registered by any regulatory body. This broker is fake.
Another disturbing detail with this broker is that the domain was recently registered. Claims that they have years of trading experience is a total lie. Using the domain checker, Whois.net, we found that this platform was registered on August 2018. This means that we cannot believe anything these scammers tells us. Why should we believe anything they tell us when everything is a lie?
What’s more disturbing with GMI Edge is that they have a rigged demo account. This means that the demo account is rigged on your behalf. Users might think that this is a good idea, but it’s not. A rigged demo account is meant to make investors believe that the platform will make money for you. Notice that over 90% of all trades are successful in the demo account? This is not a coincidence.
These scammers want investors to believe they can really make money with GMIEDGE. Once investors see that they are making money with a demo account, they will want the real deal. And this is when they open a real trading account with real money. Sadly, this does not go well since most users lose all their money with GMI Edge. Don’t think of opening a real account just because of successful trades with a demo account.
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Only thing that these scammers got right was the deposit option. They have clearly covered all areas where users can deposit money with. Users can use Neteller, FasaPay and other options. However, this is not a genuine reason to sign up with this fraud. There’s a reason why we are against signing up with GMI Edge. This broker has something hidden in their sleeves. You are about to find out.
When it comes to withdrawals, all hell breaks loose. As we conducted our investigation, and after, no member had made any withdrawals. Want to know why? These scammers come up with all sorts of lies as to why members can’t withdraw. One notable lie they constantly use is that users haven’t reached the required trading volume. Why on earth would they prohibit people not to deposit money? They simply want to steal your money.
This is a question that all investors should ask themselves before signing up with any platform. Reason we are sure your funds are not safe is the level of anonymity with GMI EDGE. Do they even segregate accounts? Members could be depositing money straight to the owner’s personal bank account.
Another disturbing factor is that the don’t participate in a compensatory scheme. Once members lose their money, it’s all gone. This means that you should never trust this broker with your money. Always sign up with a broker who will insure your funds from losses and any unforeseen errors.
This broker offers three types of accounts to users. These accounts include Standard, Cent, and ECN account. Minimum required deposit is between $25 and $100. This is way too little considering the required industry standards of $250. GMI Edge simply wants to trap low income earners by ensuring they sign up in their dozens. Only ECN account holders get a $4 commission on lots.
There’s no live support with GMIEDGE. This is proof that we are dealing with a broker who is totally unprofessional and should be terminated. Live Support page does not work and users are left with email response. Problem with emails is that they may take forever for your message to get a response. This is surely a shameless Forex broker.
Folks, this is indeed a scam that all investors should avoid with all their might. Make sure to mark all their emails as Spam. Ignore all emails sent by their email marketing team.
Only option left for us is to blacklist this broker for the scam they really are. We hope that the relevant authorities will look into this broker and shut down their operation. Always stay safe with Forex trading by choosing better and safe alternatives.
At all times go for Industry Advocated and Endorsed Forex brokers who are Commended by the Forex world. Sign up with Forex brokers who will ensure your safety when trading. Wish you all the best with Forex trading. You will never go wrong with Authentic Forex brokers.
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