Search

GTMX Forex Broker provides real users with 2 positive reviews, * neutral reviews and 13 exposure review!

GTMX Broker Review

1.92

WikiFX monitor

Software Index

Full License

License

No license

GTMX Review 15

Latest All(15) Positive(2) Exposure(13)
Exposure

This platform is a scam, everyone. You can deposit money, but you cannot withdraw it. They deceive investors from experts to salespeople and the platform itself. Stay away, everyone.

FX3651395261
2024-11-05
Exposure
The support person intentionally burned NDT's account

I have ID number 999370 at GTMX exchange, under Keily's exchange group; I have been participating for 1 month but only trading stocks. After 1 month of participation, I want to extend the bonus, but the support staff told me that my trading volume is not enough. I have to follow the orders given by the support staff to be eligible for the bonus extension. The support staff's name is Hoàng Linh on Telegram. On October 2, 2024, the support staff instructed me to place an order for Ita40; buy 1.0; but I couldn't place the order; then they told me to place an order for COTTON buy 1.0. I asked about stocks. They said "Yes"; and told me to buy 1 stock to meet the requirements for bonus extension. I placed the order and lost $8150. I tried contacting the support staff but couldn't reach them. When I asked the team leader, they didn't respond, and the deputy team leader told me to contact the support staff again, but they also disappeared. I tried contacting the hotline and the exchange's email, but couldn't reach anyone.

FX1276769427
2024-10-29
Exposure
TK MT5 is out; unable to close withdrawal orders

I have been participating in GTMX exchange for 4 months, under the support of Mr. Chí Thành. However, in the past month, I have been unable to contact both the support team and the staff of the exchange. It happened on October 27, 2024. My account was logged out of MT5. I am stuck with GSHI stock orders, unable to close the positions and withdraw the funds. I sincerely hope that the esteemed Exchange can assist me in closing the stock orders and withdrawing all the funds. Thank you very much.

FX1276769427
2024-10-28
Exposure
Report

The ib team of this exchange is extremely deceitful, engaging in unethical business practices and deceiving many investors, causing them to lose their accounts. They profit from the blood and sweat of investors. They need to be removed from society immediately, as they will face consequences sooner or later. Many investors have fallen into financial ruin. Everyone should stay away from the GTMX exchange.

FX4158600022
2024-10-26
Exposure
Fraud

Deducting money without knowing the reason, Adjusting overnight fees without notifying customers, It takes 2-5 days to approve withdrawals (and once approved, the money is gone). The first time I participated in the stock exchange, I encountered this platform. I couldn't withdraw money even though there was a lot of money in my account. Then my account was deducted $195 without knowing the reason. When I asked for advice, they didn't respond. And the salesperson lost contact on Zalo (the account was deactivated). After that, I was able to withdraw $250. The next day, I lost over $2000. I warn everyone not to participate in this platform. I stubbornly let my emotions be manipulated and jumped in. In the end, I lost $2120 of capital.

FX1337931398
Verified
2024-10-25
Exposure
I cannot withdraw money

I made a withdrawal order of $200 from September 19th to September 21st and received the money. Then I made a withdrawal order of $400 from October 8th to October 10th and received the money. After that, I made a withdrawal order of $8400, but I didn't receive it for a week. I reported to the support person named Tuấn Anh on Zalo, and he said that I had to buy 3 stocks, 1 lot each, and wait for 5 minutes to activate in order to withdraw all the money. I said that I would withdraw $5000 and wait for the money to come in before buying those 3 stocks. Tuấn Anh said that I couldn't withdraw $5000. I said it was illogical because if I couldn't withdraw, then I wouldn't have been able to withdraw from the beginning. They intentionally told me to buy expensive stocks to burn my account. I didn't follow because I found it unreasonable. I hope WK can help me report the platform so that I and many others can receive the money back.

Grateful
2024-10-25
Exposure

The IB team burns investors' accounts! Fraudulent, unable to withdraw money!

FX4158600022
2024-10-20
Positive

Ok, standard orders, signals from this side are well supported

FX7640177952
2024-09-27

  

GTMX 2025 Review: Everything You Need to Know

  

Summary

  The GTMX forex broker has garnered significant attention due to its controversial reputation, marked by numerous user complaints and allegations of fraudulent practices. While it offers a range of trading instruments and the popular MetaTrader 5 platform, the absence of regulatory oversight raises serious concerns about its trustworthiness. Users report difficulties in withdrawing funds and lack of effective customer support.

  Note: It is important to consider that GTMX operates across various jurisdictions, which may complicate regulatory accountability. This review synthesizes information from multiple sources to ensure fairness and accuracy.

  

Rating Overview

Criteria Rating (Out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 2
Trading Experience 3
Trustworthiness 1
User Experience 2

  

How We Rated the Broker

  Our ratings are based on user reviews, expert opinions, and factual data regarding the broker's operational practices.

  

Broker Overview

  GTMX, established in 2023, is registered in Saint Vincent and the Grenadines and operates without significant regulatory oversight. The broker primarily utilizes the MetaTrader 5 platform, which is popular among forex traders for its robust features and user-friendly interface. GTMX offers a variety of trading instruments, including forex, cryptocurrencies, shares, commodities, and indices.

  

Detailed Section

  

Regulatory Environment

  GTMX operates without any valid regulatory authority overseeing its activities, which is a significant red flag for potential investors. According to sources, it has been flagged for suspicious practices and has received numerous complaints regarding its operational integrity. For instance, WikiFX has assigned a low score of 1.84/10 to GTMX, indicating a high risk of fraud.

  

Deposit/Withdrawal Currencies

  Currently, GTMX allows deposits and withdrawals primarily through cryptocurrency wallets, which could pose additional risks for investors. Users have reported issues with withdrawals, often citing that once funds are deposited, accessing them becomes increasingly difficult.

  

Minimum Deposit

  The minimum deposit required to open an account with GTMX is $100, which is relatively standard in the industry. However, this low entry barrier may attract inexperienced traders who may not be aware of the associated risks.

  

Bonuses/Promotions

  While GTMX does not prominently advertise any specific bonuses or promotions, user feedback suggests that there may be incentives tied to trading volume or account activity. However, these bonuses often come with complicated conditions that can be difficult to satisfy.

  

Tradable Asset Categories

  GTMX offers a range of tradable assets, including:

  • Forex
  • Cryptocurrencies
  • Stocks
  • Commodities
  • Indices

  This diversity may appeal to traders looking to diversify their portfolios, but the lack of regulatory oversight raises concerns about the safety of these investments.

  

Costs (Spreads, Fees, Commissions)

  Spreads start from 0.1 pips, which is competitive; however, users have reported hidden fees and unexpected costs, particularly regarding withdrawals. The absence of transparency in fee structures is a common complaint among GTMX users.

  

Leverage

  GTMX offers a maximum leverage of 1:500, which can be enticing for traders looking to maximize their potential returns. However, high leverage also increases the risk of significant losses, especially for inexperienced traders.

  

Allowed Trading Platforms

  GTMX primarily operates on the MetaTrader 5 platform, which is well-regarded in the trading community. The platform is available for desktop, PC, and mobile, providing flexibility for traders who prefer to manage their accounts on the go.

  

Restricted Regions

  There is limited information regarding specific restricted regions, but the lack of regulation suggests that GTMX may not operate in jurisdictions with stringent financial regulations.

  

Available Customer Service Languages

  Customer support at GTMX is primarily available in English, with limited options for other languages. Users have reported significant difficulties in reaching customer support, often citing unresponsiveness and a lack of effective assistance.

  

Repeated Rating Overview

Criteria Rating (Out of 10)
Account Conditions 4
Tools and Resources 5
Customer Service and Support 2
Trading Experience 3
Trustworthiness 1
User Experience 2

  

Detailed Breakdown

  

Account Conditions

  GTMX's account conditions are relatively standard, but the low minimum deposit might attract inexperienced traders who could be unaware of the potential risks involved.

  

Tools and Resources

  The broker offers the MetaTrader 5 platform, which provides various tools for trading. However, the lack of educational resources and transparency regarding fees is concerning.

  

Customer Service and Support

  Customer service has been rated poorly, with numerous complaints about unresponsive support. Users have reported being unable to reach customer service representatives, leading to frustration and unresolved issues.

  

Trading Experience

  The trading experience is marred by reports of difficulties in executing trades and withdrawing funds. Many users have expressed dissatisfaction with the platform's reliability.

  

Trustworthiness

  The trustworthiness of GTMX is highly questionable due to the lack of regulation and numerous user complaints regarding withdrawal issues and alleged fraudulent practices.

  

User Experience

  User experiences vary widely, but many have reported difficulties with the platform and significant challenges in accessing funds after deposits.

  In conclusion, while GTMX offers a variety of trading options and the use of a popular trading platform, the lack of regulatory oversight, numerous user complaints, and issues with customer service make it a broker that potential investors should approach with caution. It is advisable to conduct thorough research and consider regulated alternatives before engaging with GTMX.