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GSL Markets Review: Is gslmarkets.com a scam?

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GSL Markets Review: Is gslmarkets.com a scam?

Before investing with GSL Markets, you need to know a couple of issues. First, GSL Markets is not the trading platform you think it might be. The platform is a complete sham and likely going to block your withdrawals. After some time, the platform blocks access to your account’s tab. Several clients have lodged complaints against gslmarkets.com. Here’s what we found out in our clear GSL MARKETS REVIEW.

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A Brief Analysis of GSL Markets

The about us page sells the platform as a leading CFDs and forex brokerage. You get to read the story of how ‘great’ this platform has been to members. It’s all an attempt to lure investors into depositing funds with the platform.

GSL Markets Review: Pros and Cons

Those who have engaged with the platform are now ruing the decision. Likely, you won’t get ahead with the platform. Chances are, you will fall victim to the current crop of members. And worse, GSL Markets is not responding to withdrawal queries.

That’s what you get for investing in a platform that doesn’t enjoy any regulation. Such platforms are a nuisance and a problem in the forex world. And that’s why we recommend investing and trading with regulated platforms.

With a regulated platform, you get one guarantee, the safety of funds. Unregulated platforms don’t even have such guarantees or even cover your risks. These are the platforms that will offer large bonuses and risky trading features.

GSLMarkets is a classic example of why you should avoid unregulated platforms. These platforms are only interested in your deposits. The moment you deposit, the platform knows when to block access to your trading account.

It has happened more times than we can count. We must expose each platform and protect the next investor from falling into the same trap. Our gslmarkets.com review will help reveal the rot happening on the platform.

Experts recommend doing due diligence. You need to research a platform first before depositing any funds. Then, learn about customer experience and how the platform fairs in the real world. That’s the best way to protect yourself from such platforms.

Are there advantages of dealing with GSL Markets?

The platform deceives investors into believing the platform is genuine. There’s no actual trading taking place as no members get to withdraw funds. Without enjoying the fruits of your labor, that’s not trading.

Most traders usually sign up with such platforms due to the available features. Some of these features seem enticing to the eye. An excellent example would be a deposit bonus available on all trading platforms.

These platforms don’t even manage to handle funds. As a result, you can easily get sidetracked by what seems like additional and advantageous features. For those who haven’t signed up, we recommend going through this post for more.

Accessible trading platform

You get a custom-built trading platform that isn’t a match to the world-class MT4 and MT5 trading terminals. In addition, the platform is unstable and lacks necessary trading tools such as charting analysis.

Members get a short introduction to the platform that doesn’t make sense. The platform is, at this moment, an extension of a false trading platform. You get a trading terminal whose robots are ineffective and inaccurate.

Accounts and plans

Accounts GSL Markets

There are five available plans to choose from Bronze, Silver, Gold, Premium, and Platinum. Each of these plans offers a different set of features. Let’s take a closer look at each available account;

Bronze

You have to deposit a minimum of $10,000 to get started. After that, members get a personal account manager on all accounts. There’s also an introduction to the trading platform and risk management strategies.

Silver

Members have to deposit a minimum of $20,000 to enjoy the features of this account. However, it has the same features as the silver account. The only additional feature is members getting personalized trading alerts.

Gold

$50,000 is the minimum acceptable deposit with this tier. You get the features available on the bronze and silver accounts. Additional features include practical guided trading sessions and risk-free trades.

Premium

There’s a minimum acceptable deposit of $100,000. Apart from the three above, the additional feature is just eligibility for a managed account. That means the managed account is still not on offer until you’ve traded more.

Platinum

You have to deposit $250,000 with this account. With this account, you get all the above trading features. An additional feature is getting higher leverage on all trading assets. Make a note of no mention of acceptable leverage.

Account features

The platform fails to make a note of available forex trading features. There’s no set leverage or spreads available for the different trading instruments. We must educate naïve investors on the maximum acceptable leverage with forex trading assets.

You have to use maximum leverage of 1:100 on leverage. Most platforms that scuttle the law offer way too much high leverage. And that means putting your trading position at risk. The platform ends up profiting from the commissions made by your losses.

There’s no demo account available for traders to test the set conditions. However, a serious trading platform will ensure there’s a demo account. Thanks to a demo account, you can feel the trading platform before opening a live account.

Assets and trading instruments

Members get to trade five classes of trading instruments with the platform. These include commodities, cryptocurrencies, forex, indices, and stocks. Available commodities include sugar and wheat.

Is gslmarkets.com Licensed or regulated? NO

Cryptocurrency trading is a volatile market making it a perfect avenue to earn trades. Unfortunately, the platform fails to list available pairs. Some of the cryptocurrencies expected include major cryptos such as Bitcoin and Ethereum.

Forex trading is at the epicenter of the platform’s activities. You get to trade major and minor currency pairs. These include EUR, GBP, JPY, and USD. However, it’s not clear whether the platform pairs currencies with crypto.

Some available indices include DAX, Dow Jones, NASDAQ, and NIKKEI 500. Thanks to indices, it makes it possible for day traders to earn a living. You also get to dictate market prices of commodities in the international market.

Stocks are an integral part of trading. Some of the available stocks include those from leading companies. Expect to trade stocks from all sectors, including manufacturing, tech, and textile industries.

Are there guarantees of the safety of funds with GSL Markets?

NO, the platform doesn’t guarantee the safety of funds. You get a platform that won’t help you with any form of trading. Go for platforms that allow investors to improve trading with safety measures.

The platform fails to segregate funds or offer insurance cover for deposits made. In addition, there’s no DDoS protection or SSL encryption on the platform. As a result, it makes it possible for hackers to gain access to the platform.

Compliance and license GSL Markets

GSL Markets doesn’t comply with trading regulations.

Final verdict on gslmarkets.com

Please stay away from GSL Markets or risk losing your entire investment.

NOTE: Get better at investing with proven crypto strategies.

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