Is gramfxmarkets a scam? www.gramfxmarkets.com
is this broker spam?
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.