Dubai in general and the United Arab Emirates, in particular, are considered some of the wealthiest places on Earth and are strongly associated with luxury and success. It is no wonder that many financial and investment firms try to build their brand on these associations. A prime example of this is the broker we will discuss today. However, our GMG (Dubai) Limited review reveals that there are many questions about this company’s reliability and trustworthiness.
Is GMG (Dubai) Limited a Trusted Platform?
Officially, the company operates out of the UAE, Dubai. There is no direct information about registration or licensing on their website. However, if you download the file with the terms and conditions of cooperation with the platform and account creation, you can obtain a lot of additional information: specifically, some of their contact details and the fact of registration with the DFSA (Dubai Financial Services Authority). This is an officially functioning agency regulating the activities of brokers, investors, and other similar firms in Dubai’s special economic zone. A check on the official site matches the information in the terms and conditions document. Based on this, one might even think that the organization’s activities can be recognized as legal. But there is a catch.
The subject of our review is simply posing as the original firm named GMG (Dubai) Limited. Here is their real official website: gmg-brokers.com. The scammers have simply created a phishing site with a similar domain. So, be careful and do not risk your money!
Concerned About Withdrawal?
The information sections of the site promise a convenient, well-developed infrastructure and a simple, accessible interface that will make operations much faster and easier. In theory, this should apply to all transactions conducted with the user’s linked account. However, in reality, the information is quite limited. The timeframes for GMG (Dubai) Limited transactions are not specified, nor are some other aspects. However, it is stated that there are different account levels, each offering various advantages. The conditions for opening them mainly differ in the required starting deposit amount. For example, the basic account is free to register but allows leverage up to 1:10 and charges a commission of 0.1% per transaction. Meanwhile, the highest-level account allows trading with a commission of $2.5 per lot and leverage up to 1:3000. Suspiciously, the available currencies are tied to the account level.
In the “free” version, you can only trade using MBT, a specific type of cryptocurrency. To use more common currencies like euros and dollars, you need to open higher-status accounts.
How Long Does The Broker Work?
There is very little information about the company’s history on their website. Its goals, mission, and history are described only in general terms, with a focus on simple marketing tricks to promote their services. The original company was registered in 2009. However, according to Whois data, our review subject, GMG (Dubai) Limited, created its gmg-limited.com website only in 2024. Attention! This review belongs to InvestExpertHub.
Other Signs of Fraud
âť—Fake reviews. All existing reviews on the Internet, as well as the reviews, are clearly commissioned to present the company in the best light. This is obvious because most of these aggregator sites are directly named after the firm and act as brand influencers.
âť—Clone site. There is a site cgl-limited.com, formally belonging to another firm. But its content and operation method are too similar to the company under review, with some text even being identical. Coupled with a very similar adjacent address in Dubai, it is reasonable to assume that GMG and CGL are part of the same fraudulent lineup.
âť—Secrecy. No data is provided about the company’s history or even specific individuals and contact details of the organization’s management.
GMG (Dubai) Limited Review Conclusions
At first glance, GMG (Dubai) Limited appears to be a reputable and successful investment company. However, upon closer inspection, we won’t choose this platform due to insufficient transparency and questionable practices such as publishing paid reviews and using the legal details of another firm.
âž•Convenient, customizable interface.
âž–Insufficient level of transparency.
âž–Excessively high leverage.
âž–Signs of fraud.
FAQ
How is GMG (Dubai) Limited regulated?
It is not regulated and merely pretends to be a legitimate company.
Is it safe to work with this broker?
No, as the company is not transparent and is just an anonymous website on the internet.
How can I get my money back?
The only reliable way is to contact law enforcement agencies; a chargeback through the bank does not guarantee the return of your money.
Brief Conditions
|
Type |
Forex |
|
Location |
UAE |
|
Establishment Year |
2024 |
|
Regulation |
❌ |
|
Customer Service |
+442038469816 |
|
Languages |
En |
|
Demo Account |
❌ |
|
Mobile Trading |
âś… |
|
Web-based Trading |
âś… |
|
Bonuses |
❌ |
|
Minimum Deposit |
❌ |
|
Max. Leverage |
1:3000 |
|
Scalping Allowed |
âś… |