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The WikiFX Score of this broker is reduced because of too many complaints!

GTM

Hong Kong|5-10 years|
Suspicious Regulatory License|MT4/5 full license|The server is only located in China.|Suspicious Overrun|High potential risk|

https://www.gtmmarket.com/en/index.html

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
GTM-Demo MT4
Server Location China

Contact

00852-81932551
cs@gtmmarket.com
https://www.gtmmarket.com/en/index.html
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

00852-81932551

Broker Information

More

Company Name

Global Transaction Market LLC

Company Abbreviation

GTM

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 4
Previous Detection : 2024-03-02
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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GTM · Company Summary

Note: GTM's official site - https://www.gtmmarket.com/en/index.html is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

GTM Review Summary
Registered Country/Region Hong Kong
Regulation FCA (Suspicious Clone)
Market Instruments Forex, precious metals, energies, indices
Leverage Up to 1:400
EUR/USD Spreads Minimum 0.0 pip
Minimum Deposit $100
Trading Platforms MT4
Customer Support Phone, email

What is GTM?

      GTM

GTM is a Hong Kong-based brokerage firm offering a range of financial services. While it provides access to various market instruments including forex, precious metals, energies, and indices, potential investors should exercise caution due to its regulatory status as a “Suspicious Clone” of the FCA. GTM offers competitive trading conditions with leverage of up to 1:400 and tight spreads on popular pairs like EUR/USD, making it an option for traders seeking cost-effective trading. The minimum deposit requirement is $100, and the platform of choice is the widely used MT4. Investors can contact GTM's customer support via phone and email for assistance and inquiries. However, given the regulatory concerns, thorough due diligence is advised before considering this broker for your trading needs.

Pros & Cons

Pros Cons
• Competitive Leverage • Suspicious regulation by FCA
• Access to Various Market Instruments • Lack of transparency
• Tight spreads

Pros:

• Competitive Leverage: GTM offers high leverage, allowing traders to potentially amplify their positions, which can be attractive for those seeking higher returns. However, it also increases the risk of significant losses, so traders should use it cautiously.

• Access to Various Market Instruments: GTM provides access to a variety of market instruments, including forex, precious metals, energies, and indices. This diversity allows traders to explore different trading opportunities.

• Tight spreads: The broker provides tight spreads on a popular currency pair, EUR/USD, which can result in lower trading costs for traders focusing on this pair. Tight spreads can enhance profitability.

Cons:

• Suspicious regulation by FCA: Doubts surrounding a platform's regulatory status can be concerning. Proper regulation guarantees that the broker adheres to lawful and ethical standards, safeguarding traders from potential malpractices.

• Lack of transparency: The suspicious regulatory status, along with limited information available about the broker, contributes to a lack of transparency. Investors may find it challenging to assess the broker's credibility and trustworthiness.

Is GTM Safe or Scam?

GTM is regulated by the Financial Conduct Authority (FCA) in United Kingdom. However, the license is labeled as a suspicious clone.

suspicious clone FCA license

As with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.

Market Instruments

Forex (Foreign Exchange): GTM offers trading opportunities in the forex market, allowing traders to speculate on the price movements of various currency pairs. Forex trading is popular for its high liquidity and potential for profit in both rising and falling markets.

Precious Metals: Traders using GTM can invest in precious metals like gold and silver. These assets are often seen as safe havens during times of economic uncertainty and can provide diversification in a trading portfolio.

Energies: GTM provides access to energy commodities such as crude oil and natural gas. These commodities are influenced by factors like global supply and demand, geopolitical events, and weather patterns, making them appealing to traders looking for volatility.

Indices: GTM allows traders to speculate on the performance of stock market indices from around the world. Trading indices provides exposure to a basket of stocks, offering diversification and opportunities to profit from overall market trends.

Each of these market instruments offers unique trading opportunities, and GTM's platform facilitates access to these assets, giving traders the flexibility to create a diversified portfolio based on their strategies and preferences.

Account Types

GTM Market offers two distinct account types to cater to the varying needs of traders. Both account types provide access to a wide range of financial products and the complete suite of trading platforms offered by GTM Market.

Standard Account:

  • Minimum Deposit: $100

  • Product Offering: Over 70 financial instruments, including FX, Precious Metals, Energies, and Indices.

  • EUR/USD Spread: As low as 1.5 pips

  • Maximum Leverage: 1:400

  • Minimum Trading Lots: 0.01 lots

  • Margin Call: 100%

ECN Account:

  • Minimum Deposit: $2,000

  • Product Offering: Over 70 financial instruments, including FX, Precious Metals, Energies, and Indices.

  • EUR/USD Spread: As low as 0.0 pips

  • Maximum Leverage: 1:100

  • Minimum Trading Lots: 0.01 lots

  • Commission: $6 per lot traded

  • Margin Call: 100%

These account options offer traders flexibility in choosing their trading conditions, including spreads, leverage, and commission structures, allowing them to tailor their trading experience according to their specific preferences and strategies.

Trading Platforms

GTM provides its traders with the popular MT4 (MetaTrader 4) trading platform, widely recognized for its exceptional stability and versatility. MT4 is celebrated for its capacity to facilitate automated trading through the use of Expert Advisors (EAs), allowing traders to automate their trading strategies and execute trades with precision and efficiency. Moreover, the platform boasts a comprehensive suite of charting and analysis tools, equipping traders with the resources needed to conduct in-depth technical analysis and make well-informed trading decisions. With its user-friendly interface and powerful features, MT4 is an invaluable tool for traders, offering a seamless and effective trading experience on the GTM platform.

Deposits & Withdrawals

GTM Market provides traders with a variety of convenient deposit and withdrawal options to facilitate seamless transactions. These options include widely recognized payment methods such as VISA, Union Pay, MasterCard, Skrill, and bank transfers. Additionally, the availability of Poli and wire transfers further enhances the flexibility and accessibility of financial transactions, ensuring that traders can easily fund their accounts and withdraw their profits with ease. This diverse range of payment options caters to the preferences and requirements of traders, making the deposit and withdrawal process efficient and hassle-free.

Users should note that while GTM ensures flexibility in deposits, withdrawal of funds might be subject to commissions from the payment system. These commissions can change without prior notice as determined by the respective payment systems.

User Exposure on WikiFX

On our website, you can see reports of scams and being unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section. We would appreciate it and our team of experts will do everything possible to solve the problem for you.

User Exposure on WikiFX

Customer Service

Customers can visit their office or get in touch with customer service lines using the information provided below:

Telephone: 00852-81932551

Email: cs@gtmmarket.com

Conclusion

In conclusion, GTM Market, based in Hong Kong, offers traders a comprehensive trading experience in the financial markets. With a range of market instruments spanning forex, precious metals, energies, and indices, traders have ample opportunities to diversify their portfolios. The leverage of up to 1:400, tight spreads, and a minimum deposit of $100 make trading accessible to both novice and experienced traders. The brokerage's use of the popular MT4 trading platform further adds to its appeal, providing a user-friendly interface and robust tools for analysis. While the FCA regulation adds credibility, potential investors should exercise caution due to its clone status. Investors should exercise with caution.

Frequently Asked Questions (FAQs)

Q 1: Is GTM regulated?
A 1: Yes. It is regulated by FCA, but it is labeled as a suspicious clone.
Q 2: What is the minimum deposit amount required by GTM?
A 2: $100 for standard account.
Q 3: Can I still trade on GTM?
A 3: Currently their website is out of service. Investors are advised to wait until their service is back on.
Q 4: Can I trade commodies in Togo?
A 4: No.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

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FX1094788557
more than one year
Bad platform. After trading and making a profit, it is natural that I want to withdraw my money: I want to treat myself, reward myself. However, they said that because of my suspicious behaviors (in quotes), they would freeze my account to find out. Until now, my account is not unlocked!
2022-12-01 15:47
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黄钜龙
more than one year
These scammers all have a routine - they run away when they get enough money. No one answered the phone, no one answered the email, the address didn't exist, everything was terrible!
2022-11-29 11:11
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FX1063508980
more than one year
The worst broker I ever met. Just stay away, their customer support is totally a joke. When you made a withdrawal, you need to wait for at least 2 weeks. Then you have to contact their poor customer supports which takes a long time to answer. A totally trash platform, just stay away!
2022-11-28 17:54
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