GMZ GLOBAL Review – Should You Trust This Broker?

The GMZ GLOBAL review will introduce you to another broker that offers clients the ability to trade cryptocurrencies, indices, stocks, and other assets. We will examine the reputation of this company and whether you can safely transfer your money without fearing loss.

Is GMZ GLOBAL a Trusted Platform?

A detailed examination of this so-called broker reveals that it cannot be considered reliable. The company’s website claims it is a subsidiary of Xenom Group LTD and provides a registration location in the Comoros Islands (Comoros). Here’s where things get interesting. According to the broker, it has clients from 42 countries, and the website is available in several languages:

• English
• Spanish
• German
• Japanese, among others.

This means that clients from many countries can become customers of the company. But why register on the Comoros Islands, located between Madagascar and Africa? The reason is that the Comoros government has created an offshore zone, where businesses are not asked about the origin of their funds and are subject to minimal taxes. This environment attracts not only legitimate entrepreneurs but also fraudsters, as the Comoros do not question the origin of stolen money.

Returning to Xenom Group LTD, the parent company of GMZ GLOBAL, we find that while Xenom Group LTD does exist, its website (http://xenomgroupltd.com) is non-functional. This means that GMZ GLOBAL operates independently, without oversight from Xenom Group LTD. To verify this, you can visit the Comoros Services website (https://www.comorosservices.com) in the International Business Companies section and enter the registration number.

However, this is not enough to consider the organization trustworthy. For instance, how would a client from Germany deposit money with a broker registered on offshore islands? Who would they turn to if conflicts arise?

GMZ GLOBAL provides a document issued by the Comorian regulator, the Anjouan Offshore Finance Authority. The problem is that this is not an official regulator, much like the more well-known MISA on MWALI. A license there can be bought, and naturally, such a document offers no real protection for traders.

Concerned About Withdrawal?

To start trading, a minimum deposit of $250 is required. This can be done using bank cards or electronic wallets. There is no information on how long it takes for funds to be credited. To make a deposit, you need to register and pass verification, which is a bit unusual since most brokers allow deposits without requiring documentation upfront. Little information is provided about withdrawals, only that it takes up to 5 business days. It’s likely that withdrawals must be made using the same payment method used for deposits.

How Long Does The Broker Work?

This broker began operating in May 2024, meaning it has been in business for only a few months. Such a short period is not enough to consider the company reliable. Interestingly, the company does not mention its operating time on its website, which is a good thing compared to brokers that falsely claim long years of experience. However, this does not change the fact that you should not trust a company that gives traders access to financial markets while existing for only a few months. If this company is involved in fraudulent activity, negative reviews may not have surfaced yet, and client feedback is crucial in trading. After all, users must deposit their money with a company that has a proven positive reputation. Attention! This review belongs to InvestExpertHub.

Other Signs of Fraud

❗GMZ GLOBAL has its own loyalty program, promising bonuses for the first deposit, subsequent deposits, and referrals. However, the size of these bonuses is not specified. This is not particularly important, as legitimate companies typically do not offer bonuses. Clients usually trade using their own money, and bonuses generally come with strings attached, though GMZ GLOBAL does not clarify this on its website.

❗Questions also arise regarding account types. It is unclear what deposit amount is required to open them. For the Standard account, it’s likely that a minimum deposit of $250 is sufficient, but what about the other account types? This information probably needs to be requested from a manager.

❗Notably, a financial analyst is only provided to clients with a “Silver” account, leaving traders on their own until they reach this level. Furthermore, the leverage offered goes up to 1:400, a risky level that beginners should avoid as it significantly increases the risk of financial losses.

GMZ GLOBAL Review Conclusions

Working with GMZ GLOBAL is not recommended, as there is a high risk of losing your money. The company lacks licenses from the countries where it operates, except for Comoros. Therefore, in case of disputes, complaints can only be filed with the Comorian regulator.

➕Formal registration in the Comoros and a license from that country.

➖Dubious registration in an offshore zone.

➖No documents to conduct brokerage activities in several European countries.

➖The company has only been in operation for a few months.

FAQ

Brief Conditions