GMT Trading Review: Is It a Trustworthy Broker?

Overview of scam broker GMT Trading

GMT Trading Review, At first glance we can only see a GMT Trading webpage that looks entirely suspicious. Not to mention inaccurate, fake data are abundant. If you want to protect your finds, stay away from this broker scam. Let’s dive into this GMT Trading review for more valuable information.

HeadquartersZurich, Switzerland
Minimum Deposit$250
Review Rating1/5
Broker TypeForex
PlatformsWeb trader
Spread2.3 pips

GMT Trading License and Regulations

The first step while doing your research is to check the regulation and learn about certifications. This will help you see if the broker is regulated by a central authority or if it’s entirely bogus. 

GMT Trading swears to be founded in Zurich, Switzerland. However, if that was true, they should have been authorized by the Swiss Financial Market Supervisory Authority (FINMA).

Of course, they are not regulated at all. You don’t even have to check the FINMA records. Why? Well, all legit Swiss brokers are required to provide clear licensing data. That information is not available on GMT Trading’s site.

And that is an obvious hint that we are dealing with fraudsters who wish to remain incognito for all practical intentions. Staying away from anonymous deceitful brokers like GMT Trading is the wisest thing you can do.

Trading Platform Overview

GMT Trading Platform Overview

GMT Trading broker keeps deceiving people. This fraudulent broker claims to offer to trade on the avant-garde MetaTrader4 (MT4). However, the reality is that it provides a basic platform with no extended features. Nobody should waste time with this broker. 

This fake platform is in no way similar to MT4. In addition, scam brokers like this one usually do not offer trading at all. They may tell you that your money is being invested. However, they are just ripping off your money. Always make sure to check that the broker is legitimate before you use it. With the platforms such as MT5 or MT4, you cannot go wrong.

Note: What occurs if you by any chance get scammed? You have a right to ask for a chargeback or a refund. Yet, this likelihood is only feasible if you have paid with a credit or debit card for the transactions. Visa and MasterCard let this be completed within 540 days. Bear in mind that wire transfers and crypto transactions are non-refundable.

Trading Instruments Offered at GMT Trading

Let’s discuss trading instruments for a moment. You may notice that the main instruments are there, but don’t fall for this trap. Currency pairs, crypto, indices, stocks, and commodities can be traded apparently.

Crypto trading is unique because this asset class keeps on growing in popularity. Most traders today wish to incorporate crypto into their portfolios. This broker scam claims to offer access to a wide range of tokens. 

Spreads are low, trade undertaking is solid, and customer service is suited for both newbies and experts. However, all of this is fake as this broker is a scam.

GMT Trading Deposit and Withdrawal

GMT Trading promised that you could deposit with a credit or debit card. However, that is just a lie. The so-called broker only accepts deposits in BTC. This is quite irritating since crypto transactions are not traceable. 

Cryptocurrency deposits mean that you would never be able to get a refund on your payment. That is why a lot of fraudulent brokers would encourage you to deposit in crypto. Try to stay safe and keep this in mind.

Note: If you see any broker implicated in scammy trading activities, be sure that you report it. This will smash the nasty plans of a scammer and perhaps prevent some further scams.

How Do Offshore Brokers Implement Their Scam?

You should keep one thing in mind: trading carries considerable risk. That is a reality! You should be mindful of this before you make a decision to open an account with any forex broker. Even experienced investors who employ the services of reliable brokers know this. 

Newbies are also likely to be deceived by the many fraud firms posing as brokers. These will lure you with warranties of easy profits and avant-garde mentorship. Always be careful about easy earnings and stay with authorized brokers only.

These scam artists promise huge profits for a small investment. After you find the platform, they will tell you that you are already making substantial profits. So, they will keep telling you to invest even more.

You will never see a dollar from these promised returns. You will never get to the minimum withdrawal amount. As they hide behind fake names and addresses, you won’t be able to hold them accountable.

Top Forex Brokers

Let’s take a look at the list of the most reliable forex brokers at the moment. Stay tuned! 

BrokerCountryRatingMin. DepositWebsite
FXTM BrokerCyprus, UK, Mauritius4.5$10Forextime.Com
OctaFX BrokerCyprus, SVG4.4$100OctaFX.Com
FP Markets BrokerAustralia, Cyprus4.7$100FpMarkets.Com
XM BrokerCyprus, Belize, Australia4.7$5XM.Com
HFM HF Markets BrokerCyprus, UK, South Africa, UAE, Kenya4.3$5HFM.Com
FBS BrokerCyprus, Belize, Marshall Islands4.85$100FBS.Com

GMT Trading Summary

We really enjoyed writing this comprehensive GMT Trading review. We hope you could learn something new from it. It is clear that this broker is a trading scam.

Try to stick with legitimate companies only, as this will save your funds. Also, it will save you many headaches. However, bear in mind that even if you trade with a legitimate broker, your funds may be at risk. 

FAQs About GMT Trading Broker

Is My Money Safe with GMT Trading?

Your money is not safe with GMT Trading at all. They are a dishonest scam broker.

Is GMT Trading Regulated?

GMT Trading broker is a suspected scam. It is not a regulated broker, so stay away from it.

Does GMT Trading Offer a Demo Account?

It is not quite clear if this broker offers a demo account. Anyhow, it is not safe.