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Resolved
Providing false information to induce transactions
Mediating Parties
GMI GMI
Issue

Scam

Requirement

compensation

Settlement Amount

$3,701(USD)

Time

33day16hour

Mediation Status
Resolved
FX4023668255
Reply
GMI
Dear customer, currently, our account manager remains actively engaged in following up on this matter while maintaining open communication channels.

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WikiFX Overseas Customer Service

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Verified
WikiFX Mediation Center

Verified

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FX4023668255
On March 4th, I deposited $11,000. Based on my analysis of the recent market environment, I believed that the global UK index would experience a decline, so I decided to trade the 100gbppro product. Later, I checked the official website of the GMI platform and learned about the dividend mechanism for index products this week. I found that the official website did not disclose any information about dividend distributions. Then I contacted the platform's account manager to inquire about the dividend situation. After inquiry, the account manager clearly informed me that the 100gbppro product would not charge any dividends this week! This would save me the cost of shorting the UK index, so I placed an order for the 100gbppro product on the 5th, and successfully closed the position with a profit on the 6th. Subsequently, I submitted a partial withdrawal request and discovered that the platform had deducted a total of $3,701 in dividend distributions for my short position in the 100gbppro product. I was very puzzled, so I consulted customer service and also communicated with my account manager. After multiple rounds of discussions, GMI still insisted on deducting this dividend distribution. This behavior made me extremely angry. When I initially consulted with your GMI salesperson, they clearly told me that GMI would not charge dividends on the UK index this week. Based on this premise, I chose to short 100gbppro with GMI. Isn't this clearly a trap to deceive investors? Initially, they said no charge, but after seeing my profitable short position, they changed their story and said a charge was necessary. I trusted GMI because I considered it to be a relatively old and reputable brokerage, but I never expected such a breach of promise! I hope to use the power of the media to expose GMI's unscrupulous behavior and recover my losses.

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