GTS Financial has gotten a lot of attention thanks to its misleading name. The company falsely claims to belong under SEC jurisdiction while being an anonymous swindler.
Without further add-ons, we’ll take you through this GTS Financial review. There’s a lot to learn.
GTS Financial claims to be a brand of GTS Financial LLC, registered in the US. However, we found no relation between the two. In fact, GTS Financial LLC operates through the domain gtsfinancial.com and is not related to gtsfinancial.net.
Since this is the case, we’ve checked their second office, allegedly in Denmark. It should give the broker authorization to solicit EU investors. As an EU member state, Denmark complies with ESMA directives, regulates the Forex market through the DFSA, and limits leverage for retail traders to 1:30.
As you can already guess, the DFSA register shows no results regarding GTS Financial regulation. In fact, no EU regulator has ever authorized this firm to run the business. On the other hand, German authorities marked this brokerage firm a fraud.
All of this indicates that you should avoid gtsfinancial.net by all means.
What’s more, gtsfinancial.net was registered in August 2022, while the actual GTS Financial LLC was approved to work from Minnesota in January 2021.
Finally, the address on the website is New York, while the genuine GTS Financial LLC has no headquarters there, according to the SEC database.
While all this was supposed to build GTS Financial’s reputation, it actually crushed it.
Since the website is in German by default, we can conclude this financial intermediary preys on German-speaking consumers. Upon numerous complaints, the official regulator, BaFin, issued a warning against the scam in September 2022.
According to it, the German Federal Crime Police and financial authorities are investigating this firm for fraudulent activities. As per the warning, BaFin was unable to confirm the broker’s regulation with SEC, just as we were. It’s the final proof of our claims so far.
GTS Financial trading platform is advertised as proprietary software called GTS trading platform. However, if you scroll to the bottom of the main page, you will see the firm advertising MT4 and MT5.
Scammers often abuse the name MetaTrader as it’s the most popular trading software today. They falsely advertise to offer it so that more traders would register with them. Since there’s no Demo account, it’s easy for the employees to sell fake stories and get clients onboard.
Once you pay the money, it’s too late to get out. Since we were unwilling to make an initial deposit, we were unable to review the software and confirm if there actually is one.
There is too much misinformation regarding available trading assets. The main page suggests that you can trade in the following markets:
However, the Markets page also advertises commodities like gold and crude oil, and shares. Without access to trading software, we are unable to confirm what’s true and what’s another lie.
We were unable to find a list of GTS Financial account types. The company says to offer services to the following categories:
However, without specifying the terms for any or providing us with the minimum deposit. There’s an indication that you can trade from 25 EUR, but it’s unclear whether it’s a minimum position size or a minimum necessary to open an account.
Whatever the case, you better not engage with this fake brokerage firm.
Once again, we’re short on information. There’s no list of available payment methods for the GTS Financial withdrawal. In fact, there’s no mention of a payout whatsoever. Is it even possible? Guess you will have to deposit and then find out.
If the company were actually legitimate, as it claims, it would need to be transparent about all the trading terms and fees. A lack of transparency indicates that there’s no way for you to get your money back. It also suggests that you should search for a real broker with a real license.
If you find yourself a victim of the GTS Financial scam, don’t hesitate to report it immediately. As you can see throughout this review, authorities are already starting their investigation.
Let’s get your money back before it’s too late! Global Fraud Protection has dedicated chargeback experts assisting victims of bogus financial brokers. Share your story with us, and we’ll book a free consultation for you.
GTS Financial is not a legitimate broker, despite false claims. If you lose your money with this scheme firm, we might be able to help you out.
GTS Financial advertises a proprietary platform, MT4, and MT5, without giving access to any.
The minimum deposit with GTS Financial is not disclosed.
GTS Financial is not a legitimate broker, despite false claims. If you lose your money with this scheme firm, we might be able to help you out.
GTS Financial advertises a proprietary platform, MT4, and MT5, without giving access to any.
The minimum deposit with GTS Financial is not disclosed.
The post A Detailed Review of Gtsfinancial.net Brokerage Firm appeared first on Global Fraud Protection.
