GIC Markets Review: Lies About This Broker

Overview of GIC Markets

Many brokers try to look legit with some shady statements. However, if those are not backed up with regulations everything falls down the drain.

In this case, the GIC Markets broker is one of those primarily because of missing transparency. Neither that ownership information nor contact information is available. So, what is to expect from them except to scam you?

Who Is GIC Markets Broker?

According to the T&Cs, the company is coming from Seychelles. That’s an offshore country without some strict laws. Thus, they have at least some regulator – FSA.

With active operations since 2016 according to WHOIS analytics, they have established themselves in many countries.

However, it’s just a matter before some regulators warn about their activities.

GIC Markets
Legal name: N/A
Regulation: Unregulated
Registered in: Seychelles (allegedly)
Established: 2016
Website: Gicmarkets.com
Financial Authorities Warnings: BAPPEBTI
Contacts: N/A
If withdrawal is possible: Highly unlikely
Fees: 1.5% Withdrawal fee
If Active on Social Media: Yes – Facebook, Twitter, Instagram
Investor Protection: Not available

 GIC Markets Regulation and Security

To make sure we are on the right path, we are checking the regulation first. Starting with the Financial Services Authority of Seychelles. But as expected from such an anonymous broker like GIC Markets, the results were bad.

But even without looking in Tier 1 registers, you can feel the results. In this case, we reviewed many regulators like FCA, CFTC, BaFIN, ASIC, etc. However, the outcome was always the same. The moment we gave up is when we found the warning. Here it is, from Indonesian BAPPEBTI.

GIC Markets Broker Profile

Here you can find some of the most important key points about trading conditions. Even though it’s quite a solid offer, it’s not reliable due to a missing trading license. But check it out.

Trading platforms: MT5
Account types: Classic, Pro, VIP
Financial Instruments On Offer:
  • Crypto (BTC, LTC, DASH)
  • Commodities (crude oil, cotton, gold)
  • Indices (DAX 30, FTSE 100)
Maximum leverage: 1:500
Minimum Deposit: $50
Commissions/bonuses: Commissions not available / Bonuses up to 10%
Mobile app: Available
Desktop app: Available
Autotrading: Yes
Demo account: Yes
Education or Extra tools: PAMM accounts

Is GIC Markets Broker Safe?

The broker doesn’t promote any funds protection measures. Such as negative balance protection, segregated funds or compensation funds.

But even if they do, it would be questionable. Simply because GIC Markets company is missing crucial regulations. And there is a warning against them.

GIC Markets Traders Reviews – Sharing Experiences

What’s even more suspicious is that the broker only has one review available online. For almost 10 years of existence.

Thus, that one is enough to confirm everything said so far. Take a look by yourself:

If you had any similar experiences with this or any other broker, let us know. Our expert team can at least advise you on the next step.

How Does the GIC Markets Platform Reach Clients and Who Are They?

Since the company promotes their social networks they probably lure traders there. In this case, Instagram, Twitter and Facebook. However, these platforms don’t make them anything more reliable.

Through the analysis, we discovered that the broker is mainly scamming traders from:

  • Canada 
  • United States
  • India 
  • Indonesia
  • Singapore     

Once they get you onboard, they use different tactics to extort money from traders. But in this case, the most efficient one is through non-existent withdrawal fees. Unfortunately, the broker doesn’t have transparent T&Cs which leaves enough room for all dirty scamming tricks.

Deposits and Withdrawal Methods

An overview of  GIC Markets' fast and efficient withdrawal methods in the broker review

According to the company presentation, there are few depositing methods available. Those are:

  • Debit and Credit cards
  • Bank transfers
  • Skrill
  • Neteller

Even though the minimum deposit is quite low and starts at $50, it’s too much for a shady company. After completing the GIC Markets login form you reveal your personal details to the scammer. Which has a way higher value than $50.

After all, the company doesn’t have a transparent withdrawal policy. Therefore, they can make up any reason not to allow your withdrawal to happen.

All companies have different withdrawal conditions. Therefore, it’s important to analyze different brokers to be able to recognize differences. For that reason, we encourage you to check our updated Uptos, Bullexo, and Lionetix reviews.

GIC Markets Bonuses and Promotions

Another trick from the sleeves is the bonus and IB Program. Either way, you are not rewarded with cash, but only with bonus funds in your trading account. Which is fictive, by the way.

IB Program is designed to get more clients. Firstly, they will try to manipulate you into believing they are legitimate. Of course, you can bring more traders because you see good results, etc. But once you or your referral requests a withdrawal, the nightmare starts.

Reasons To Avoid GIC Markets Broker

As you can see there are many. Except for Meta Trader 5, there are not so many positive things about this broker. Firstly, they are not regulated and there is a warning against this broker. On top of that, for almost 10 years they don’t have many reviews.

They may be paying for those to be removed. Lastly, but most importantly, GIC Markets Withdrawals are quite suspicious. Without a transparent withdrawal policy, you can expect the unexpected.

Our Safe Trading experts’ opinion of GIC Markets broker

The list of reasons to avoid GIC Markets scam broker won’t end. Therefore, it’s important to choose the right one on time. Before you lose interest in the amazing trading world because of a bad broker.

Instead, raise your awareness and keep your money safe. Even if you were a victim of a scam, it’s not the end of the world. Our expert team can assist you with filing a chargeback and getting a refund. But most importantly, advise you on future expeditions. The first consultation is free of charge, Don’t hesitate to get in touch already today!

FAQ Section

Is GIC Markets Trustworthy?

No. The company doesn’t provide any protection for traders, but most importantly they are not licensed to provide these services.

How To Start Trading Safely?

To be able to trade safely, you should know the benefits of regulated ones. Therefore, the best option is to talk to our experts. Contact us today!

How Can You Help Me Choose the Best Forex or Crypto Broker?

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