GMT Trading Review: Don’t Risk Trading with This Firm

Overview of scam broker GMT Trading

GMT Trading is an online broker scam, created for the purpose of impeaching their client’s finances. The website that was used to offer their services is now non-functional, but even during its time it was a lackluster and unfinished site that didn’t contain much of the necessary information. 

Evidence that GMT Trading is a fraudulent entity and not just a badly devised business plan is a rather large number of warnings that have been issued by financial regulators. You may read these warnings yourself by visiting the following links:


Finma warning on GMT Trading

German BaFIN

BaFin warning on GMT Trading

Canadian OSC

OSC warning on GMT Trading

Furthermore, we highly recommend that you avoid the scam brokers Gitex Capital, Marlpark LTD, and Duvaro.

Broker Status: Defunct investment scam
Regulated by:  Unregulated
Operating Status:  Non-operational
Scammers Websites:  gmttrading.io
Blacklisted as a Scam by: Switzerland, Germany, Canada
Broker Owner:  Anonymous
Headquarters Country: Switzerland (claimed)
Foundation Year:  2022
Online Trading Platforms: Web Trader
Mobile Trading:  Not provided
GMT Trading Minimum Deposit: $250 (Bitcoin equivalent)
Deposit Bonus:  First deposit bonus
Crypto Asset Trading: Yes
CFD Trading Option: No
Available Trading Instruments: Forex, Crypto Pairs
Maximum Leverage: 1:400
Islamic Account:  No
Free Demo Account:  No
Accepts US clients: N/A
Warning:  FINMA, BaFIN, OSC

GMT Trading Reliability – License and Fund Security 

This broker provides us with a company address – Zürich, Hauptbahnhof Lagerstrasse 105, Zip code 8004 Switzerland. This is a very important piece of information, as it gives us great pointers as to where to start looking for regulatory information.

Switzerland is a politically neutral country that thrives on its banking industry. Such a nation naturally has a very strict financial law, and obtaining a banking license is very difficult there.

Swiss companies that wish to provide broker-related services must comply with these conditions that are required by FINMA:

  • Operating capital of 20,000,000CHF
  • Insurance fund of 100,000CHF
  • The maximum allowed leverage is 1:30
  • Client fund segregation in an established Swiss bank
  • Negative balance protection on client trading accounts
  • Periodic financial reports to the regulator
  • Bonuses are forbidden

Most of these risk mitigation rules have been completely ignored by GMT Trading. We can tell they are phonies by the way they offer leverage as high as 1:400 and various bonuses to their new clients.

GMT Trading has been under the watchful eyes of multiple international regulators. The well-educated professionals that work in these agencies have issued warnings about this company predatory behavior. The agencies in question are Swiss FINMA, BaFIN from Germany as well as a local regulator from Ontario, Canada named OSC.

We can now conclude that GMT Trading is not just some fledgling broker with poorly developed financial strategy, but a full-blown scam. This unregulated anonymous group is not a broker, but an investment fraud!

Trading Platform Overview

GMT Trading used to brag about a “world-class” trading platform, and indeed we could see it featured on a mobile device on their website. In truth, the Web Trader was above average in functionality, offering some interesting features. 

It was not available on a mobile device as a separate program, however. This scam seemingly offers Metatrader4 as a platform, but this is simply not true.

The Web Trader is a far cry from what a truly world-class platform most reliable brokers would use. Metaquotes’ software is the flagship of the online financial market. MT4 is a program that has seen continuous improvements since 2010, and now boasts the fastest market execution available, complete with stop orders. 

MT5 is a new and completely separate solution that focuses on automated trading, with features like expert advisors and technical indicators.

Trading Accounts 

Reputable brokers usually offer different accounts that allow a client’s business success, as well as profitability to the broker. 

Different accounts with a good broker are based on spread, fees, or different pricing and market execution technology. A demo account is a must because rookies need their risk-free environment for practice.

We can see something is off by examining GMT Trading accounts, as none of them feature different trading conditions, only different deposit amounts and varied “perks”. As expected, there is no demo account, only live trading accounts.

These were the accounts this company offered:

  • Basic – $250 deposit, leverage of 1:200
  • Standard – $10,000 deposit, leverage of 1:200
  • Silver – $50,000 deposit, leverage of 1:200
  • Gold – $100,000 deposit, leverage of 1:200
  • VIP – $250,000 deposit, leverage of 1:300
  • Pro – $1,000,000 deposit, leverage of 1:400

Deposits and Withdrawals

Although recently some rarely regulated brokers have begun allowing for cryptocurrency transfers, with GMT Trading this is the norm. Crypto transfers are untraceable and may be kept in secure offline wallets, preventing 3rd party tampering. This goes hand in hand with the policies of swindlers like GMT Trading.

GMT Trading has created a pseudo-legal document called Terms and Conditions. In it, we can see the problem that comes with withdrawals. Many frauds will give an unrealistic condition about trading that must be satisfied before the client is allowed to withdraw. With this company, the client must trade more than 25x the bonus amount before they may withdraw currency.

Trading Instruments

As the website is now non-accessible, we can’t say for certain which exact trading instruments GMT Trading used to offer. On what’s left of the site we saw mentions of Forex and Crypto pairs.

We need to point out that scammers don’t want you to trade any real assets. Every piece of information on their web trading platform is manipulated to encourage more deposits. Their goal is not to trade, but unlawfully acquire money. Any mention of trading instruments is another layer of lies added to attract more victims.

How is the Scam Performed?

Fraudulent groups like GMT Trading will usually advertise great trading conditions on their website but offer very little substance. GMT Trading is guilty of this as well, by promising a good trading platform and above-average market pricing. All the claims of financial regulation are either missing or outright false.

Every asset of the GMT Trading operation has been carefully tailored to take as much money as possible while giving nothing in return. We can see this in their crypto-only depositing method, and outrageous withdrawal conditions.

GMT Trading Summary

GMT Trading is anonymous investment fraud. The front that was used by the people behind GMT Trading was a website that is currently non-operational. This group was using deception and obfuscation of information to attract their victims.

Because of their fraudulent behavior, this company has fallen under the watchful eye of at least 3 financial regulatory agencies. FINMA from Switzerland, German BaFIN, and OSC from Ontario in Canada have issued legal warnings about GMT Trading and their antics.

FAQs About GMT Trading Broker

What Kinds of Accounts Does GMT Trading Have?

GMT Trading offers accounts based on the deposited amount. There is no demo account.

How is My Security Ensured When Using GMT Trading?

GMT Trading is an unregulated entity, and there are no financial safety mechanisms implemented with this faux broker.

What Funding Methods Are Accepted at GMT Trading?

GMT Trading accepts only cryptocurrency transfers, which are notorious for being untraceable and offer no chargeback on transactions.

Turn Your Trading Skills
Into Capital!
Unlock funded trading accounts now
your Success, our Investment!
Content navigation