Search
GSM Forex broker specializes in providing foreign exchange trading services, the company's official website https://www.gsmfx.ne..., the company's legitimate regulatory information AustraliaASICAppointed Representative(AR) to enhance the security of the company's address 41 DEVONSHIRE STREET, GROUND FLOOR OFFICE 1

GSM Forex Broker

Basic Information

Registered Region
United Kingdom
Operating Period
--
Company Name
Grand Signal Markets Limited
Abbreviation
GSM
Company employee
--
Customer Service Email Address
info@gsmfx.net
Contact Number
+442084323088
Company Website
Company address
41 DEVONSHIRE STREET, GROUND FLOOR OFFICE 1
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Rating Index

How to login to GSM?
gsm Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a gsm Account Registering for a gsm account is the first step to accessing the platform's features and services. Follow these detailed steps to successfully complete

  

GSM Forex Broker - Complete Information Guide

  

1. Overview of the Broker

  GSM, officially known as Grand Signal Markets Limited, was established on October 23, 2019. The broker is registered in the United Kingdom, although it claims to operate in various international markets. GSM is a private company that primarily serves retail clients interested in forex trading and other financial instruments. The broker's operational model focuses on offering trading services in precious metals, stock indices, futures, and crude oil, catering to a diverse clientele that includes both novice and experienced traders.

  Over the past few years, GSM has gained attention for its aggressive marketing strategies, promising high returns and leveraging up to 1:200. However, the company has faced scrutiny due to its suspicious regulatory status and numerous negative reviews from users. The firm has been associated with Wintersnow Limited, which has raised further concerns about its legitimacy and operational practices. The business model revolves around online trading, providing clients with access to a range of trading instruments through the MetaTrader 5 platform, which is popular among forex traders.

  The GSM broker has experienced significant milestones since its inception, including the expansion of its product offerings and the establishment of a customer support system. However, it has also faced allegations of fraudulent activities and has been marked as a suspicious clone by various regulatory bodies.

  

2. Regulatory and Compliance Information

  GSM operates under a suspicious regulatory status. The broker claims to be regulated by the Australian Securities and Investments Commission (ASIC), with a license number of 001281851. However, this claim has been disputed, as GSM is not listed in the ASIC registry, indicating a lack of legitimate oversight.

  The broker does not provide clear information regarding the validity and scope of its regulatory licenses, and there are no indications of client funds being held in segregated accounts. Furthermore, GSM does not participate in any investor compensation schemes, which raises significant concerns regarding the safety of client deposits.

  In terms of compliance, GSM states that it follows Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, yet the lack of regulatory oversight diminishes the effectiveness of these measures. As a result, potential clients are advised to exercise caution when considering investments with this broker.

  

3. Trading Products and Services

  GSM offers a variety of trading products, primarily focusing on forex trading. The broker provides access to a wide range of currency pairs, including major, minor, and exotic pairs. In addition to forex, GSM also facilitates trading in Contracts for Difference (CFDs) across several asset classes, including:

  • Precious Metals: Gold, Silver
  • Stock Indices: S&P 500, FTSE 100
  • Futures: Crude Oil, Natural Gas
  • Cryptocurrencies: Bitcoin, Ethereum

  The broker claims to update its product offerings regularly, although specific details on the frequency of updates or the introduction of new instruments are not readily available. GSM primarily caters to retail traders, providing various account types designed to meet different trading needs.

  GSM also offers institutional services, although information regarding these services is limited. The broker does not appear to provide white-label solutions or asset management services, focusing primarily on retail forex trading.

  

4. Trading Platforms and Technology

  GSM utilizes the MetaTrader 5 (MT5) platform, which is available for PC and is known for its advanced trading capabilities. MT5 is favored by experienced traders for its comprehensive tools for technical analysis, automated trading, and the ability to implement various trading strategies.

  The broker does not mention any proprietary trading platforms, and there is no indication of a web-based trading solution. Mobile applications for iOS and Android are not specified, which may limit accessibility for traders who prefer mobile trading.

  GSM operates on a market-making model, which allows it to facilitate trades directly. The broker claims to have a robust technical infrastructure, although specific details regarding server locations and technology are not disclosed. There is no mention of API access or support for automated trading strategies, which may be a drawback for algorithmic traders.

  

5. Account Types and Trading Conditions

  GSM offers several account types, including:

  • Classic Account: Minimum deposit of $100, spreads starting from 1.6 pips, and no commission.
  • Pro Account: Minimum deposit of $100, spreads starting from 0.0 pips, and a commission of $2 per side per $100,000 traded.
  • VIP Account: Minimum deposit of $5,000, with similar spread and commission structures as the Pro Account.

  The broker provides an option for Islamic accounts, which are compliant with Sharia law, and a demo account for traders to practice their strategies without financial risk.

  GSM offers a maximum leverage of 1:200, allowing traders to magnify their potential profits (and losses). The minimum lot size is 0.01, enabling flexible trading options. However, information regarding overnight fees and other trading conditions is not clearly outlined, making it difficult for potential clients to assess the cost-effectiveness of trading with GSM.

  

6. Fund Management

  GSM supports various deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement is $100 for standard accounts, with specific processing times not disclosed.

  The broker does not provide clear information on deposit fees, and the withdrawal process appears to be opaque, with potential restrictions and processing times that are not specified. GSM's withdrawal methods are limited, and there are concerns regarding the efficiency and transparency of the withdrawal process, as numerous users have reported difficulties in accessing their funds.

  Withdrawal processing times are also unclear, raising further concerns about the broker's reliability. The lack of a detailed fee structure for withdrawals adds to the uncertainty for potential clients.

  

7. Customer Support and Educational Resources

  GSM provides customer support through various channels, including phone, email, and online chat. The support team is available during regular business hours, although specific time zones and availability are not clearly stated.

  The broker claims to offer multilingual support, although the exact languages available are not specified. Educational resources include webinars, tutorials, and market analysis services, which aim to help traders improve their skills and knowledge.

  GSM also provides market analysis tools, including daily analysis, news updates, and research reports. However, the availability and depth of these resources are not extensively detailed, which may limit the educational support for new traders.

  

8. Regional Coverage and Restrictions

  GSM primarily serves clients in the United Kingdom and other international markets, although the specific regions covered are not explicitly mentioned. The broker's operations appear to be focused on reaching a global audience, but it is crucial for potential clients to verify whether GSM accepts clients from their respective countries.

  Certain jurisdictions may impose restrictions on trading with GSM due to its unregulated status, and specific countries where GSM does not accept clients are not disclosed in the available information. The lack of transparency regarding regional limitations may deter potential clients who are looking for a reliable and compliant trading environment.

  In conclusion, while GSM presents itself as a forex broker offering a range of trading products and services, potential clients should exercise caution due to its regulatory status and numerous negative reviews. The absence of clear information regarding its operations, fund management practices, and customer support may pose significant risks for investors considering trading with this broker.

GSM Similar Brokers

Revoked
Aperture
No license plate
1.53
Score
Revoked
KKR
KKR Forex Broker - Complete Information Guide   1. Broker Overview   KKR, offici
1.53
Score
ORYX
Oryx Forex Broker - Complete Information Guide   1. Broker Overview   Oryx, offi
1.53
Score
DBS
DBS Forex Broker - Complete Information Guide   1. Broker Overview   DBS Vickers
1.53
Score
ABX
ABX Forex Broker - Complete Information Guide   1. Broker Overview   ABX Trade,
1.54
Score
TMX
TMX Forex Broker - Complete Information Guide   1. Overview of TMX Broker   TMX,
1.53
Score
Dana
Dana Forex Broker - Complete Information Guide   1. Broker Overview   Dana Broke
1.54
Score
BingX
BingX Forex Broker - Complete Information Guide   1. Broker Overview   BingX, es
1.53
Score
Binary Options
Binary Options Brokers - Complete Information Guide   1. Overview of the Broker
1.53
Score
TradeZero
TradeZero Broker - Complete Information Guide   1. Broker Overview   TradeZero,
1.62
Score
NetDania
NetDania Forex Broker - Complete Information Guide   1. Broker Overview   NetDan
1.53
Score
Clone Firm
CALIBUR
No license plate
1.53
Score
1.56
Score
1.57
Score
1.56
Score
Unverified
Broker Junction
No license plate
1.56
Score
Unverified
Eagle Commodities
1.56
Score
1.56
Score
HBC
1.56
Score
1.56
Score
1.56
Score
Unverified
Financial integration
1.56
Score
1.56
Score
Unverified
Okato
No license plate
1.56
Score
Unverified
Cunningham
No license plate
1.56
Score
1.56
Score
Unverified
GMI Edge
No license plate
1.56
Score

Latest Reviews

Rymond Lus

Rymond Lus

Australia

Getting money in and out is no sweat, but verifying your account takes forever.

37130

2024-08-07

OM 6551

OM 6551

United Kingdom

from internet far east people scamming europian it seems like the company register in uk but reality after police review is scam and fraud chiness man behind it . don’t trust this scammer i have lost lot with them . totally fraud .

Exposure

2024-02-19

OM 6551

OM 6551

United Kingdom

I was contracted by Viber to register the group as they have over 200 people crowed group everyone talking about it how great platform is it . girl calm Wendy contract me and talk to her lots of time over the phone also I was convince to invest over all for Rocket project I hav invested £50000 and start trading with company call Wintersnowx . after few weeks is Chnage to GSM company still trading with MT5 and few weeks later it’s Change to OBFX and traded for month made 508 usd total . in return of withdraw they clear my account and block my account without access . all the money was vanish from account also . need support and help to recycler the funds as well as warn to people about fraud . this company and group of people play some game to take your money . simply they are farud . Wintersnowx WintersnowFX . GSM OBFX this all Company are same and they all fake and fraud . I have full pack of evidence for communication , emails , MT5 account details and account details . also evidence of company and money deposit through BInace . I hope I will get some help .

Exposure

2023-01-22

GSM Forex Broker has an overall rating of 1.54, Regulatory Index 0.00, License Index 0.00, Business Index 7.20, Software Index 4.00 Risk Control Index 0.00.