GLMarkets has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I was contacted by GLMarkets through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
Tried to withdraw my funds from GLMarkets and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
GLMarkets has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Good analytical tools|Clean UI
Cons: No live chat on mobile|Limited social trading features
For anyone considering GLMarkets, please be aware that this company has been flagged by Financial Services and Markets Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Flagged by international regulators|Due diligence required
I was about to invest with GLMarkets but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Services and Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database