GM Markets (gm-markets.com) has been flagged by ASIC (Australia) for "Unlicensed". ASIC Investor Alert: https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!goldman-markets-goldmanmarkets-com--2448 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: gm-markets.com.
If you are reading this considering GM Markets (gm-markets.com) - run. I wish I had read more negative reviews after hearing about them at a conference. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Full transparency|API access
Cons: No integrated tax optimization
I gave GM Markets (gm-markets.com) a fair chance. After for just over a year of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Economic calendar|Excellent charting|No hidden fees|Clean UI
Cons: Limited cryptocurrency options|Minimum deposit could be lower
GM Markets (gm-markets.com) changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Good analytical tools|Real-time alerts|Segregated accounts|Professional team
Cons: No crypto staking|No live chat on mobile
GM Markets (gm-markets.com) has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Multiple order types|Real-time alerts
Cons: Wait times can be long during peak hours
The only good thing about GM Markets (gm-markets.com) is that they remind you why regulation matters. I found them after seeing their ad online. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Reliable uptime|Wide product range
Cons: Desktop app not available on Linux|None so far
I referred a friend to GM Markets (gm-markets.com) after seeing their ad online. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Instant funding|Economic calendar
Cons: Limited cryptocurrency options|Desktop app not available on Linux
I experienced a security concern with my GM Markets (gm-markets.com) account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Helpful community forum|Real-time alerts
Cons: No fractional shares|Limited social trading features
I wanted to transfer my portfolio from another broker to GM Markets (gm-markets.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: High security standards|Multiple order types
Cons: Search feature is basic
Where do I even begin with GM Markets (gm-markets.com)? for a couple of months now of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Regular platform improvements|Quick verification
Cons: Help articles are sometimes vague|Inactivity fee applies after 12 months
Do not be fooled by the professional-looking website. Behind the scenes, GM Markets (gm-markets.com) is disorganized and incompetent. I found them through a forum discussion and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Stable platform|Comprehensive tools|Automated trading options
Cons: Minimum deposit could be lower|Help articles are sometimes vague