Is GMFX24 Scam or Legit Broker?

GMFX24 is not a safe broker as it does not hold any serious license. It is registered in St. Vincent and the Grenadines and does not provide proper safety terms and conditions. 

  • Saint Vincent and the Grenadines (SVG) is a popular offshore jurisdiction for forex brokers due to its low set-up requirements and minimal regulation. However, the lack of regulatory oversight and lax requirements can also lead to potential risks for traders who choose to sign up with brokers registered with the SVG Financial Services Authority.

About GMFX24
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is GMFX24 safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is GMFX24?

GMFX24 is a Forex and CFDs broker, owned and operated by Goldman 24 Limited, a company registered in St. Vincent and the Grenadines. According to the website the head office is located in St. Vincent and the Grenadines. They don’t provide the contact phone numbers, although mention the main hotline’s time availability.

  • Also, the terms and conditions state that the company is under Cyprus’ jurisdiction, which is supposed to mean GMF24 is regulated by Cyprus regulator CySEC. We have checked the register on the regulator’s website and there are no records about the broker’s license. It seems that GMFX24 is just one more offshore-based unregulated forex broker that tries to get investors’ trust with fake information about its regulation.

GMFX24 - official websiteGMFX24 Review Conclusion

We advise avoiding GMFX24 as it has no regulation and no legal right to provide financial services. Instead, we recommend checking the list of the CySec-regulated brokers, as this regulator is well-known and trustworthy. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BlackBull Markets.

GMFX24 Update

We found the GMFX24 website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

No news available.

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