Goldmar Review: Fraud Behind Goldmar.Co Broker
Goldmar forex broker has many indications of a scam behind its name. In regard to this, there is a warning issued against it by the regulatory body that controls the Italian markets. However, even without it, you should know this broker has no good intentions.
Investing in a fraudulent business is an awful idea. Let’s hop into this Goldmar review in more detail and see why it’s advisable to stay away from this broker scam.
Furthermore, you should stay away from trading with dishonest brokers like Caplita, Maddex Capital, and Topinvesttrader.
|Company||Combobulating Group LLC|
|Address||St. Vincent and the Grenadines|
|Leverage||1:200 – 1:500|
Is Goldmar a Reliable Broker? Regulation and Security
It’s evident that this broker is not regulated. Goldmar is a part of Combobulating Group LLC, located in St. Vincent and the Grenadines. What is the issue here? Well, first and foremost, the FSA of SVG doesn’t handle FX and CFD corporations. Virtually, if you want to run a company, you need to register with the FSA and acquire permission from the government of service.
Now, let’s focus on more details. Try searching for Goldmar regulation in the databases of CONSOB, ASIC, FCA, BaFin, and other big-name Tier 1 license providers. Of course, you won’t be able to find even a trace of it.
Ultimately, you can see that Goldmar is unauthorized, and blacklisted by one of the regulators. Accordingly, it’s highly advisable to stay away from this broker scam.
Broker’s Trading Platform Overview
It’s time to say a few things about trading software. You’ll find some essential charting tools here, for example. This trading medium is the baseline when it comes to FX trading. Generally, the issue is not that the platform lacks the advanced features of Metatrader 4 or 5. As a result of its association with a big broker scam, this software is a bad one.
Bogus FX firms tend to exploit their customers by showing them cash being traded on the medium. That does not contemplate reality. Don’t forget that your money is stolen when the people behind the company get hold of it.
Be that as it may, any trading activity shown is unreal! Stick to regulated brokers with legit software.
Tip: Goldmar delivers up to 1:100 leverage. Leverage is limited in certain jurisdictions but not for skilled traders. Be that as it may, Goldmar tries to lure you with high leverage and terrible spread.
Goldmar Account Types Available
Let’s examine the account types this broker has to offer. You will see three account types. It’s a bit strange that they have no name at all. Instead of a name, you’ll see minimum deposit amounts.
- €250 – 1:100 leverage
- €2.500 – 1:200 leverage
- €25.000 – 1:500 leverage
In addition to leverage, there are differences in service expertise and spread between accounts.
Note: Trading with leverage is risky. There is always a slight risk of losing your funds, even with legitimate brokers. Keep this in mind at all times.
Goldmar Funding Methods Available
The deposit options include card and crypto payments. It is familiar for fraudsters to use crypto assets because of the hardly reversible nature of the deposits made with them. On the flip side, card deposits are eligible for a chargeback, which you should pursue if you gave this broker scam any cash.
This is vitally important because of the extremely high minimum deposit amount. It is set to $250, which is a substantial sum that you may lose if you can’t or do not seek a chargeback.
In most cases, brokers do not require their clients to put so much money on the line outright – most legitimate firms are more than happy to provide them with access to the markets for just $10 – the price for a micro account with any credible firm today!
How Does the Scam Implement?
Bogus brokers have many fraudulent practices. Many withdrawal problems will be encountered, along with unfavorable reviews. Additionally, you will encounter excessively high fees. These huge fees often go exceeding 20%.
What’s more, they will include some sort of a profit fee. Fraudulent websites will want to rob you before you initiate a withdrawal. Know that this is almost always the case!
Aside from that, there are always huge profits that they swear by. This is another typical fraud pattern that you should keep in mind. These bogus firms will promise you guaranteed returns. Trading with leveraged instruments carries certain risks. Beware of that!
Nearly every broker scam will keep telling you that the profits are guaranteed. Try never to dismiss this red flag.
Trade with legitimate FX brokers only. Regulated brokers come from the EU, the US, the UK, and Australia. These need to publish a note about the percentage of customers who suffer losses on their venues.
Recommended Forex Brokers
By now, you’ve seen how to avoid trading scams. Nevertheless, it is the perfect time to discuss some regulated and recommended forex brokers. Take a closer look at the table below!
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Writing this Goldmar review was a fantastic experience. It’s critical to review all the companies before you use them. Make sure that you always do this before you execute any transaction. It would be our pleasure to see that this Goldmar review was helpful to you.
Would you like to start trading? If so, please do it with a reliable, secure broker. You can always choose a company from our list in this article.
FAQs About Goldmar Broker
Is Goldmar Regulated?
No. Goldmar is not a regulated broker and you should stay away from investing your money here.
Is my Money Safe with Goldmar?
Your money is not safe with this broker scam. Make sure that you stay away from it.
Does Goldmar Offer a Demo Account?
No, this so-called broker only has a live trading account. Keep this in mind as well.