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GMQ Group foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://c2c.gmqfin.com/#/register?flag=fo, about the company's legal and temporary regulatory information, the company's address .

GMQ Group Forex Broker

Basic Information

Registered Region

Philippines

Operating Period

Company Name

Golden Millenial QUICKPAY

Abbreviation

GMQ Group

Company employee

Customer Service Email Address

support@gmqfin.com

Company Website

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Company profile

Note: GMQ Group official site - http://www.gmqfin.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. GMQ Group Review Summary in 5 Points Founded 5-10 years Registered Country/Region Philippines Regulation Unregulated Customer Support Email What is GMQ Group？ GMQ Group, with full name Golden Millenial QUICKPAY, claims to be an online trading provider based in Philippines. However, due to the current unavailability of its website, it's difficult to verify its compliance with regulations and its general trustworthiness. Furthermore, the fact that it's unregulated raises further concerns about its legitimacy. In this article, we strive to give a comprehensive review of GMQ Group by looking at different aspects of the platform. If you are considering this service, we recommend reading further for in-depth information. The article concludes with a summary highlighting the platform's main features for quick reference. Pros & Cons Pros Cons • None • Unregulated • Website inaccessible • Lack of transparency • Negative feedbacks from their customers Currently GMQ Group does not seem to have any discernable advantages to present to customer, which is a red flag cannot be ignored. However, the broker has significant downsides. Its unregulated status raises concerns about its legal compliance and reputability. The inaccessibility of its website is another obstacle, which limits potential clients' ability to evaluate services or contact support. A lack of transparency adds to these issues, creating uncertainty around the broker's operation and trading conditions. Lastly, negative feedback from customers indicates potential challenges with customer satisfaction. As always, traders are advised to fully consider these pros and cons when selecting a broker. Is GMQ Group Safe or Scam？ When considering the safety of a brokerage like GMQ Group or any other platform, it's important to conduct thorough research and consider various factors. Here are some steps you can take to assess the credibility and safety of a brokerage: Regulatory sight: Currently, this broker is under no valid regulation, which is a cause for concern about its legitimacy and reliability. This situation is further exacerbated by the non-functional state of the broker's website. It's imperative to conduct thorough research and due diligence for any financial organization, especially when glaring red flags such as these are present. User feedback: 13 reports regarding scams and unable to withdraw on WikiFX significantly impose doubts of the brokers liquidity and necessitates caution for those considering its services, underscoring the importance of utilizing reliable, user-friendly platforms. Security measures: Currently, there is no publicly available information regarding the security measures implemented by this broker. Ultimately, the decision whether to engage in trading with GMQ Group or not is a personal one, necessitating a careful evaluation of the pros and cons before arriving at a conclusion. User Exposure on WikiFX You can note on WikiFX that there're 13 reports about scams and withdrawal issue, which should be acknowledged as a warning sign. We urge traders to meticulously examine all available information. You can refer to our platform prior to trading for pertinent details. If you come across any rogue brokers or if you've fallen prey to such practices, kindly report it in our “Exposure” section. It would greatly aid our cause and our expert panel would take necessary steps to address the problem as soon as possible. Customer Service At GMQ Group, support service is exclusively via email, keeping aside instant-response channels like phone or live chat. It is notable for customers to be aware of this limited support structure and understand that immediate assistance might not be readily available. This implies that in case of any urgent requirements or immediate concerns, it might take some time for the resolution. Email: support@gmqfin.com. Conclusion While GMQ Group identifies itself as an online trading platform based in Philippines, a host of red flags, including its unregulated status, cast doubts regarding its legitimacy. The lack of regulation creates a perilous environment for traders, with the potential for contravening standard financial practices. Additionally, issues with its website's accessibility and negative customer reviews on WikiFX point towards an imbalance in its professional handling and responsibility, adversely impacting the user experience. It is advised that any prospective trader should tread cautiously when dealing with GMQ Group. Understanding the significance of transparency and regulatory compliance is imperative and it is suggested to choose platforms that adhere to these regulatory standards. Frequently Asked Questions (FAQs) Q 1: Is GMQ Group regulated？ A 1: No. It has been verified that this broker currently under no valid regulations Q 2: Does GMQ Group offer the industry leading MT4 & MT5？ A 2: No. Q 3: Is GMQ Group a good broker for beginners？ A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its unavailable website and negative customer feedbacks. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

GMQ Group broker review

Is GMQ Group safe or scam

Rating Index

GMQ Group Forex Broker - Complete Information Guide

1. Broker Overview

GMQ Group, officially known as Golden Millenial Quickpay, has been operating for approximately 5 to 10 years. The company is registered in the Philippines and is classified as a private entity. GMQ Group claims to provide online trading services, primarily targeting retail traders in the Forex market. However, due to the current inaccessibility of its website, it is challenging to verify its operational legitimacy and compliance with regulations.

Throughout its operational history, GMQ Group has faced several challenges, including an unregulated status that raises concerns about its credibility. The broker's primary business model appears to focus on retail Forex trading, but there are significant red flags regarding its operational practices and customer feedback.

The lack of a functional website further complicates matters, as potential clients are unable to access essential information about the broker's services or reach customer support. The company's development has been marked by a suspicious regulatory license and negative customer experiences, which may indicate underlying issues within its business practices.

2. Regulatory and Compliance Information

GMQ Group operates without any valid regulatory oversight, raising significant concerns regarding its legitimacy. The absence of regulation is a major red flag, as it implies that the broker does not adhere to industry standards designed to protect traders. Currently, GMQ Group does not hold licenses from any recognized financial authorities, which further emphasizes the potential risks associated with trading through this broker.

The company's regulatory status is characterized by:

Main Regulatory Bodies: No valid regulatory authority overseeing GMQ Group.
Regulatory License Numbers: None available.
License Validity and Scope: The broker claims to have a license, but it is deemed suspicious and unverifiable.
Legal Entities in Different Regions: Registered in the Philippines, but no other legal entities are mentioned.
Client Funds Segregation Policies: There is no publicly available information regarding the segregation of client funds.
Participation in Investor Compensation Schemes: GMQ Group does not participate in any investor compensation funds, putting client funds at risk.
KYC and AML Compliance Measures: There is no clear information on the implementation of Know Your Customer (KYC) or Anti-Money Laundering (AML) policies.

Given these factors, it is crucial for potential traders to exercise extreme caution when considering GMQ Group as a trading partner.

3. Trading Products and Services

GMQ Group offers a limited range of trading products primarily focused on Forex trading. The broker claims to provide access to various currency pairs, but specific details regarding the number and types of pairs available are not disclosed.

The trading products and services include:

Forex Currency Pairs: The exact number of currency pairs is unspecified, but major pairs are likely included.
CFD Product Categories: GMQ Group appears to offer Contracts for Difference (CFDs) on commodities, indices, stocks, and cryptocurrencies, although the specifics are not clearly outlined.
Unique or Special Products: There is no indication of any unique products or trading instruments offered by GMQ Group.
Product Update Frequency: Information regarding the frequency of product updates or the introduction of new trading instruments is not available.
Retail Trading Services: GMQ Group focuses primarily on retail trading services, catering to individual traders.
Institutional Client Services: There is no mention of services tailored for institutional clients.
White Label Solutions: No information is provided about any white label solutions offered by the broker.
Asset Management Services: GMQ Group does not appear to offer asset management services.

Overall, the limited transparency regarding product offerings and the lack of detailed information raise concerns about the broker's reliability and the quality of services provided.

4. Trading Platforms and Technology

GMQ Group's trading platform options are limited. Currently, there is no indication that the broker supports popular trading platforms like MetaTrader 4 or MetaTrader 5. The broker may offer a proprietary web-based trading platform, but details about its features and functionalities are scarce.

Key aspects of GMQ Group's trading technology include:

MetaTrader 4/5 Support: GMQ Group does not support MetaTrader 4 or 5.
Proprietary Platform Details: The specifics of any proprietary trading platform offered by GMQ Group are not disclosed.
Web-Based Trading Platform: The broker appears to provide a basic web-based trading platform, lacking advanced features.
Mobile Applications: There is no information regarding the availability of mobile applications for trading on iOS or Android.
Execution Models: The execution model (ECN, STP, Market Making) is not clearly defined, which raises questions about order execution quality.
Server Locations and Technical Infrastructure: There is no publicly available information about the broker's server locations or technical infrastructure.
API Access and Automated Trading Support: The availability of API access or support for automated trading is not mentioned.

The lack of a robust trading platform and technological support may hinder traders' ability to execute trades efficiently and effectively.

5. Account Types and Trading Conditions

GMQ Group offers limited account types with unclear trading conditions. The specifics of account types, including minimum deposit requirements, spreads, and commissions, are not transparently communicated.

Account types and trading conditions include:

Standard Account Conditions: The minimum deposit, spreads, and commissions are not clearly stated.
Advanced Account Types: There is no indication of any advanced account types such as VIP or professional accounts.
Special Accounts: Information regarding Islamic accounts or corporate accounts is not available.
Demo Account Policy: GMQ Group may offer a demo account, but the terms and conditions are not specified.
Leverage Ratios: The leverage ratios available for different products are not disclosed.
Minimum Trade Sizes: The minimum trade sizes applicable to different account types are not mentioned.
Overnight Fees Policy: There is no information on overnight fees or swap rates.

The lack of clarity regarding account types and trading conditions can lead to confusion for potential traders, making it challenging to assess the broker's offerings accurately.

6. Fund Management

GMQ Group provides limited information regarding fund management practices. The methods available for deposits and withdrawals are unclear, and the processing times for transactions are not specified.

Key aspects of fund management include:

Supported Deposit Methods: The broker may support various deposit methods, including bank transfers, credit cards, and e-wallets, but specifics are not provided.
Minimum Deposit Requirements: The minimum deposit requirements for different account types are not disclosed.
Deposit Processing Times: There is no information on how long deposits take to process.
Deposit Fees: The broker does not specify any fees associated with deposits.
Withdrawal Methods and Restrictions: The withdrawal methods available and any associated restrictions are not clearly outlined.
Withdrawal Processing Times: Information regarding the time taken to process withdrawals is not available.
Withdrawal Fee Structure: The broker does not disclose any fees related to withdrawals.

The lack of transparency regarding fund management practices raises concerns about the safety and accessibility of clients' funds.

7. Customer Support and Educational Resources

Customer support at GMQ Group appears to be limited, with few channels available for traders to seek assistance. The broker primarily offers support via email, which may not provide immediate responses.

Customer support and educational resources include:

Support Channels: The primary support channel is email, with no mention of phone or live chat support.
Service Hours and Time Zone Coverage: There is no information on the operating hours or time zone coverage for customer support.
Multilingual Support: The languages supported for customer service are not specified.
Types of Educational Resources: There is little information available on the educational resources provided, such as webinars, tutorials, or e-books.
Market Analysis Services: GMQ Group does not appear to offer in-depth market analysis services or research reports.
Trading Tools: The availability of trading tools such as calculators, calendars, or signal services is not mentioned.

The limited customer support and educational resources may hinder traders' ability to access assistance and improve their trading knowledge.

8. Regional Coverage and Restrictions

GMQ Group's regional coverage and service limitations are not explicitly detailed. However, the broker appears to primarily serve clients in the Philippines and potentially other regions.

Key points regarding regional coverage include:

Primary Service Markets: GMQ Group seems to focus on the Philippine market primarily.
Regional Offices Distribution: There is no information regarding the distribution of regional offices.
Countries/Regions Not Accepted: Specific countries or regions from which clients are not accepted are not disclosed.
Special Restrictions: There are no detailed restrictions mentioned regarding trading activities or client eligibility.

In conclusion, GMQ Group presents several concerns regarding its regulatory status, transparency, and overall reliability as a Forex broker. Potential traders are strongly advised to conduct thorough research and consider these factors before engaging with GMQ Group broker.

GMQ Group Forex Broker has an overall rating of 1.57, Regulatory Index 0.00, License Index 0.00, Business Index 7.49, Software Index 4.00 Risk Control Index 0.00.

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