Before you begin trading with GSL Markets or get in touch with the company, read this GSLmarkets.com review first. Beware! GSL Markets is an international broker! Your investment could be in danger.
General Information- GSL Markets:
Even though we admired GSL Markets’ straightforward layout, we still had to examine it critically. As we did so, we discovered the actual purpose behind this broker’s existence. This website is nothing more than a cover for the shady activity going on behind the scenes, as gslmarkets.com is nothing more than an investment fraud!
There was no registration page, simply login pages throughout the site, implying that this company selects its users based on their susceptibility. Only when the broker is sure that the user will invest does it show the sign-up page. This is a foolproof method used by thousands of illegal brokers.
According to the website, there are foreign currency pairs, stocks, commodities, indexes, and cryptocurrencies. According to the home page, the leverage is capped at 1:500 and the cost of trade begins at 0 pips. However, we have no confirmation that any of these assertions are accurate!
How Does the GSL Markets Scam Work?
Scammers employ a few methods that combine to form a large plan that has not altered since its start, making it very simple to avoid.
The fraud begins when the broker contacts the user, who has previously unknowingly provided his or her contact information through some seemingly innocent method. Communication with the broker may appear to be a pleasurable experience while the other party sweet talks its way into your cash.
The majority of frauds target non-traders because they are more susceptible to this type of verbal manipulation. Otherwise, customers may begin receiving emails claiming extraordinary investment opportunities, none of which are truly profitable.
The first deposit, which scammers are eager to sell, is the tipping point. The user has fallen into the hands of the fraudster following this initial investment. Either he will be urged to invest more by false promises of additional “profit,” or the client will want their initial deposit returned, to which he will be told that additional investments are required.
Regardless of whose side of the coin you are on, she/ he will almost certainly never be able to withdraw. Every withdrawal request will be denied for a variety of equally absurd reasons.
Gsl Markets: Is It Regulated And Licensed?
GslMarkets.com is a brand that is regulated globally in several nations, according to the website’s footer. However, Bulgaria is the only jurisdiction that is ever mentioned, and as we will show in the following section, this claim is fairly unconvincing given that the organization is not even licensed in that country.
Therefore, referring to “different jurisdictions” is more like an intentional effort to deceive clients. Finally, the terms and conditions include a disclaimer that the broker’s services may not be legal in all jurisdictions, contradicting the broker’s earlier assurances and adding another layer of dubiety.
Simply said, GslMarkets.com is not regulated in any jurisdiction, hence it poses a risk to its consumers as a whole. Don’t put your money here!
Can You Request Withdrawals?
Unregulated websites like GSL Markets have been known to engage in scam activities, which are unfortunately all too widespread. Scammers typically entice their victims with the promise of high profits or trade bonuses. After an initial investment, the thieves would continually demand more cash but never allow any withdrawals.
They will find any excuse to block or delay your withdrawal requests indefinitely, but in the most common scenario, this will be an attractive bonus that you received after making your first deposit. With such trading incentives, scammers have an easy out when customers request a withdrawal.
The only option available in our case was to collect all the payment information directly from the website. There is no guarantee here, and while there is enough information, it could all be wrong.
Please keep this in mind. In reviewing the terms and conditions, we discovered that there is a 5% withdrawal fee for all card types, in addition to a commission, and that all bank transfers incur a fee of $10 in addition to a “rest” fee of $25, the application of which remains unclear to us. Furthermore, it appears that this fee applies to both deposits and withdrawals. In any case, this is a RED FLAG that the broker is up to no good. GslMarkets.com is unregulated and poses a risk to everyone!
How Can You Save Your Money?
If you want to invest, you should only work with licensed brokers. It may be difficult to tell them apart, but there is a method that makes it a lot simpler. The most important thing is to verify the broker’s claims about their regulation or registration status. If you don’t find what you’re looking for, you can leave the page and try another legitimate broker in Europe, the United Kingdom, the United States, or Australia.
How Should You Respond To A Scam?
When you’ve been scammed, your best choice is to file a chargeback. Get in touch with the firm that issued your card, and then proceed. It’s useful to note that MasterCard and VISA have a 540-day chargeback period.
Bank investments are more difficult, but not impossible, to recover. Most banks have some form of policy for dealing with lost capital, so the client’s best bet is to call their relevant bank and follow the bank’s plan of action from there. We also advise consumers to update their bank account username and password if they have been conned. Still, email us at firstname.lastname@example.org if you need assistance with any step or if you are experiencing any difficulties.
Unfortunately, there are no genuine means to recover lost money from crypto investments through these channels. All crypto investments are untraceable, and it is impossible to predict where the investor’s money will end up.
Don’t put your faith in recovery agents or agencies. These are either independent scammers searching for “service fees” from users, or extensions of illegal broker operations.
Final Words: GSL Markets
The first thing most experienced traders and investors look for when evaluating a new brokerage is security. Because even the best conditions aren’t worth it if you’re always in danger. If the broker can steal from you at any time, it adds another degree of risk to the already volatile world of trading.
Many traders find it difficult to research each brokerage before joining. This is where this section of our GSL Markets review comes into play. We evaluated and graded the broker’s safety and have presented our findings. There is no doubt that GSL markets are a scam brokerage out to take advantage of any trader it can. If that does not raise any red flags, we are at a loss as to how to alert you to the SCAM!