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GramMarkets Co., Ltd (GMEX) is foreign exchange trading service provider headquartered in Canada. Despite these claims the broker doesn’t have a license to operate in Canada or any other country. It is regulated by the Financial Market Conduct Authority (FSA) of Saint Vincent and the Grenadines. We have warned about this type of license many times, as St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Read more about St. Vincent and the Grenadines regulation by the link.
We would recommend to stay away from GMEX and choose from the Regulated Brokers.
I just can tell about my experience.
With the help of a “promoter” i opened an account, with very little funds.. (about 1500 USD)
The promoter put me in contact with one “analyst” that told me that he could give me 3 investing suggestion, then, as i was a TOO LITTLE investors, I should have been investing at least 30.000 USD.
Well… no thanks… so after the using the three helps, I continued to “invest” by myself.
I was lucky, s after a while, due to the high leverage, the profit was good already.. so I asked to tranfer back some money.
After a few days, they told me that my transaction were “sospicious of money laundry” (money laundry for 1500 USd.. ?????= so I should has been providing them all the analysis of each transaction i had done, my revenue declaration and other stuff…
i repled them to tell mw for what law or rules i should provide those documents, because it is written nowhere!!!
Well, they send me back the initial money depodit. I told them that, even if I was not providing them my analysis, the first three were done by THEIR ANALYST, so they should have been paing at least those profits…
And they closed my account… 🙂
Hi, i am trying to get back my initial deposit too but they wont even answer, how did you di that, if I can ask?