Gusto Fortune Forex Broker provides real users with * positive reviews, * neutral reviews and 5 exposure review!
Wide range of account types catering to different trading styles, including Islamic accounts.
High leverage options available, up to 1:500, allowing traders to maximize their potential returns.
Robust customer support available 24/5 via multiple channels, including live chat and phone.
Currently unregulated, which may raise concerns about the safety of clients' funds.
Limited range of trading instruments, excluding popular options like cryptocurrencies and agricultural commodities.
Some users report slower response times for email support, which can affect timely trading decisions.
Unable to withdraw
Is there any solution if I can't withdraw the money?
Withdrawals are now unavailable from July to September.
Unable to withdraw funds, it has crashed
No withdrawal
GDMFX, the trading name for Global Derivative Capital Markets NZ Limited, has been operational since 2012, providing a platform primarily for forex and commodity trading. The broker promotes competitive trading conditions, including a low minimum deposit of $100, high leverage up to 1:500, and various promotional bonuses that may appeal to beginner and intermediate traders. However, GDMFX's lack of regulatory oversight raises serious questions about fund safety and overall trustworthiness, particularly for those who prioritize regulatory compliance when selecting a broker. Potential clients should weigh the attractive features against the numerous negative reviews circulating online regarding withdrawal issues and customer service responsiveness. While GDMFX may present an appealing opportunity for risk-seeking new traders, its unregulated status and mixed reviews should be approached with caution.
Risk Disclaimer: Trading with unregulated brokers like GDMFX poses significant risks. Clients may encounter difficulties in withdrawing funds and face a lack of legal recourse in case of disputes.
Potential Harms:
Industry reputation indicates a considerable amount of negative feedback, particularly regarding fund withdrawal and overall support efficiency. As one disgruntled user noted:
“I tried to access my funds multiple times with no luck, and customer service was unhelpful in resolving the issue.”
| Criteria | Rating (out of 5) | Justification |
|---|---|---|
| Trustworthiness | 2 | Lack of regulation and numerous negative reviews raise significant concerns. |
| Trading Costs | 3 | Competitive trading costs exist, but high non-trading fees may hinder profitability. |
| Platforms & Tools | 4 | Offers MT4 platform, well-known for user-friendliness and custom features. |
| User Experience | 3 | Mixed reviews on user experience; some users report difficulties with withdrawals. |
| Customer Support | 2 | Noted issues with response time and effectiveness in addressing customer concerns. |
| Account Conditions | 3 | Appealing account types with competitive leverage, but with associated withdrawal risks. |
Founded in 2012, GDMFX is headquartered in Auckland, New Zealand. The firm has built its reputation on offering forex trading services to a diverse range of clients. However, GDMFX has not maintained regulatory compliance in recent years, prompting concerns about its operational legitimacy. As of now, it operates without regulation, which is a significant deterrent for risk-averse traders.
GDMFX primarily deals in forex trading, but it also provides access to trading in precious metals, commodities, and indices. Its trading framework utilizes the popular MetaTrader 4 platform, which is accessible both on desktop and mobile devices. Although GDMFX claims to adhere to stringent operational parameters, the lack of regulatory oversight puts client funds at risk and diminishes the platform's appeal to more security-focused traders.
| Feature | Details |
|---|---|
| Regulation | Unregulated |
| Minimum Deposit | $100 |
| Maximum Leverage | 1:500 |
| Account Types | Classic, Blade, Blade Pro, Prime, Binary |
| Major Fees | 1% for withdrawals |
| Customer Support Availability | 24/5 via chat, email, phone |
| Trading Platform | MetaTrader 4 |
GDMFX's regulatory status is ambiguous. While registered in New Zealand, it currently operates without oversight from recognized financial authorities. This lack of regulation triggers caution from potential investors, especially in the context of customer reviews pointing to withdrawal struggles and slow customer support responses.
GDMFX's reputation is mixed at best. Many user reviews highlight significant dissatisfaction with user experience, particularly regarding funds withdrawal processes. The overarching sentiment is one of caution against this broker, especially for those who emphasize regulatory compliance for fund safety.
“Numerous traders have shared their concerns about the efficacy of GDMFX, particularly regarding withdrawal issues.”
GDMFX presents a competitive commission structure, especially for its Classic account where there are no commission fees. Traders can benefit from variable spreads, often as low as 0.1 for the Blade accounts, providing an enticing opportunity for cost-effective trading.
Despite low trading costs, GDMFX imposes various non-trading fees that can impact overall profitability. Users have reported a 1% fee on all withdrawals, leading to frustrations for many:
“It was frustrating to be charged extra every time I wanted to withdraw my funds. Every $100 withdrawal felt like $101 after fees.”
While GDMFX can be appealing for beginner traders due to its low minimum deposit and competitive trading costs, the potential for high non-trading fees represents a cautionary note. For new traders, these costs can quickly accumulate and eat into potential profits.
GDMFX operates primarily through the MetaTrader 4 platform, which is widely recognized for its robust features and customizability. This platform supports various order types, advanced charting tools, and automated trading strategies which are crucial for many traders.
Traders can access an array of tools, including expert advisors, financial news, and trading indicators. Additionally, GDMFX offers a rich library of educational resources through its Hermes Academy, promoting a learning environment for novice traders.
Feedback on the MT4 experience remains largely positive, with users praising its flexibility and functionality. However, experiences diverge when dealing with customer support.
“While MT4 works great for trading, getting issues resolved through support was a different story.”
Users frequently note that the GDMFX platform is intuitive and user-friendly, particularly for those less experienced in trading.
GDMFX offers mobile accessibility through the MT4 mobile application, which allows users to trade on the go. However, issues with app functionality have been noted.
GDMFX customer support operates 24/5 and offers multiple communication channels, including email, live chat, and phone support. However, customer feedback indicates inconsistency in response times and effectiveness.
“I often found myself waiting for several hours or even days to get a satisfactory answer.”
GDMFX provides a variety of account types suited to different trading strategies. The minimum deposit of $100 for a Classic account establishes a low-entry point for new traders.
While leverage options can be attractive—up to 1:500 for certain accounts—traders need to weigh this against the risks inherently involved with high-leverage trading.
In summary, GDMFX offers appealing aspects, such as competitive account options and robust platform capabilities. Still, its lack of regulation and the multitude of negative user experiences surrounding fund withdrawals are significant red flags. Beginner and intermediate traders should proceed with caution, thoroughly researching and analyzing their trading needs in alignment with what GDMFX provides. As always, potential investors are encouraged to practice due diligence before committing funds to any broker.
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