Menu

GMT Crypto Review: Alert over Scam CFD broker

GMT Crypto Review: Alert over Scam CFD broker

Share This!

GMT Crypto is supposed to be a CFDs broker which provides trading instruments involving Crypto coins. The brokerage claims that they have a valid license from the UK financial regulator FCA and are allowed to provide their services to residents of the UK as a whole. However, the FCA has warned that this is not the case. The website is definitely using a license belonging to another firm and this is undermining its credibility in a severe way.

GMT Crypto is actually using the licensing details of a legit and authorized firm called  GMT Communications Partners LLP. This is an attempt to mislead clients into believing that GMT Crypto is licensed when it is not. This is what we call cloning and GMT Crypto is clearly cloning another website. The intent is to scam clients. There is no reason why a site owner would go ahead and clone another one. In addition to this, the shameless operators of GMT Crypto also claim that they are regulated by the CySEC but that has also turned out to be lies.

If you check the database of CySEC (which is freely available for scrutinize on the web), you will not find the name of this broker. Having said that, our advice is to always trade with authentic brokerages whose licenses can be verified. You should always check this fact because if you don’t, you will most likely lose money through a clone website.

GMT Crypto Review

One way to lose money is to be misled by a clone website that pretends to be legit when that is far from the truth. Usually, this game starts at some website where you will see an ad claiming that they have a sophisticated trading app that can make huge returns fast. These websites have been reviewed by us several times before. Their job is to send over customers to brokers like GMT Crypto. All you have to do in order to get started is to sign up with your email and phone number so you can start using the robot in question.

GMT Crypto

To use that robot, you need to activate it with real money by simply funding a scam broker like GMT Crypto with at least $250. Of course the robot is not sophisticated, so it will start losing one trade after the other because its trading randomly. On the other hand, the broker in question will be smiling all the way to the bank because someone on the other end is trading against you unknowingly. That means you can’t win with a rogue broker even if you were using legit trading apps for that matter.

? ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade!
Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.

PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.

Even if you manage to make a few dollars in profit, brokers like GMT Crypto will never let you withdraw your funds because they will lose. They are market makers and such people thrive when they steal your money. But when you are smart enough to beat them so that your profits can accumulate to the point of withdrawing, they will simply refuse your withdrawal request.

Features of GMT Crypto

GMT Crypto claims to offer trading in various financial instruments, 200 in total. This information is hard to verify because it is not possible to find out if the only way to test the broker’s service is by depositing some money. We are not willing to lose our hard earned money.

In addition to this, the site GMT Crypto does not reveal their trading conditions except the minimum deposit and the bonus which they are allegedly awarding clients who make deposits for the first time. You need to be wary of this bonus because a dubious broker will use that clause to steal your money. So if you find yourself scammed because you sent your money into their bank accounts, the best way to make things simpler is to ignore the offer asking you to accept deposit bonus.

To withdraw any deposit, the scam site might tell you that they need you to fulfull certain trading volume requirements. This is going to be tricky because already the market maker is trading against you and making sure that you will never win. So that means achieving the ridiculous trading volume is an impossible thing to do.

The site is also showing us that they are not transparent at all. If they were legit, they would have easily disclosed this critical information because it is very important to customers who come here wanting to trade any of the assets offered on the site.

GMT Crypto claims to have won awards

This is a very funny one. They claim that the site has received a number of awards but no actual details are being shared in any way. This false claims backfires on them when we discover that they are only lying to us. It makes them lose credit because such discoveries only confirm that the broker in question is a scam.

Things that you should remember

Before you get scammed by GMT Crypto, there are many red flags that come to mind. Victims tend to ignore these red flags but they do carry weight when it comes to engaging whether a site is real or scam.

In this case, they are using the licensing details of various companies which are listed with the FCA and CySec as safe. They are cloning and hoping that we will get convinced. But that is not the case. We treat this as a crime and an attempt to mislead clients.

Our best advice for you

You should do all it takes to stay away from a pathetic scam like this one. If you’re not held at gun point, there is no need to ignore these red flags and think that something good can come out of this brokerage.

GMT Crypto is a scam going by the reports that we have received from a number of online users. And as we have said, anyone who is not sure should never trust the site and instead choose our trusted recommendations. 

If You'd Like to Get Notified When This Site is Updated, Subscribe Below...

Leave a Reply

Your email address will not be published. Required fields are marked *

IQ Mining

Binary Option Scams, Warnings, Reviews & Updates...

Binbotpro

Popular Articles

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Show Buttons
Hide Buttons