If one were to check the Garant Market broker’s website, they’d have what to see. This company tried so hard to prove its legitimacy that it made it obvious. It’s cyber-fraud after your money.
While there are no legal documents whatsoever, the company claims to have eight different licenses to conduct its business. The owner’s name is missing, which is impossible with a legitimate company. They comply with all the rules, one of them being full transparency.
Read this in-depth Garant Market broker review to learn more about how the scam is perpetrated.
Once we were able to review this brokerage, we were astounded by the amount of mismatching information. In the disclaimer, the company added an address from the UK with a license from Cyprus and Mauritius.
Furthermore, there’s a section called Accreditations and Licenses, showing Garant Market regulations from six major authorities and two financial firms.
Upon researching all the alleged licenses, we found nothing. Simply put, the broker Garant Market is unlicensed and conducts financial services illegally. Therefore, you cannot count on help from the financial ombudsman, regulatory compensation fund, or anything else.
Garant Market is not a regulated financial services provider. The company has been established offshore, away from regulatory oversight. The Russian Central Bank issued a warning against scammers.
Here’s what we found on the company’s website:
According to it, Garant Market Forex broker is heavily regulated by Tier 1 authorities, including DFSA, ASIC, CFTC, and CySEC.
Additionally, it has a license from South African FSCA, IFSC of Belize, and accreditations from BlackRock Inc. and Ameriprise Financial. In the website footer, the company also stated to have a license from the FSC of Mauritius.
Upon checking the regulatory registers, we found no proof of these claims. CySEC license number 48368 is false, and so is the Mauritius Investment Dealer License.
With so much false information, it’s no wonder that the Garant Market trading scam has been noticed and sanctioned.
Furthermore, they’ve provided us with the broker’s other domains, those being garant-market.org and trade.garant-market.store. If you stumble up on any of these, make sure to decline an offer, regardless of how tempting it may sound.
Negative Garant Market reviews mainly come from:
The company has been in the business since May 2022 and has already earned many complaints and a regulatory warning. All this is a bad sign for the broker’s reputation.
The broker goes a step ahead, promising the following:
Additionally, employees are there to sell anything you want to hear, including high returns. Account managers will make fake financial plans, promising high gains if you invest more money each time.
They might connect to your PC or a mobile device using remote desktop access apps, such as AnyDesk or TeamViewer. If you grant them access to your device, they’ll be able to access more than the trading platform.
They have direct access to your online banking and crypto wallet.
While promising access to global trading platforms, this investment company doesn’t deliver. The only Garant Market trading platform clients have on offer is a plain WebTrader.
It’s a primary tool with not as many features. Clients have several charts and indicators, trading history overviews, and pending orders.
Yet, it’s not an option if you are looking for more advanced tools, such as EAs. That’s why it’s always better to choose a brokerage with MT4 or MT5, as these are industry standards and enable sophisticated trading.
Garant Market login is only possible through a mobile web browser. There are no dedicated Android or iOS apps.
Once again, MetaTrader wins the battle if you’re looking for better functionality. Both versions come with mobile apps, enabling easy access to your trades.
The company offers access to around 200 trading instruments. Here’s a market overview if you’re still interested in this broker.
The broker offers access to crypto trading regardless of the account type. The leverage ranges from 1:10 to 1:50, well above the regulatory cap.
Due to high volatility and trading risks, most Tier 1 authorities have set a crypto leverage limit to 1:2. Note that cryptocurrencies are traded as CFDs, meaning that customers are investing in the price, not purchasing actual crypto coins.
The spread starts at 3 pips, which is relatively high. The industry average for Forex majors, such as EUR/USD, is 1.5 pips. Therefore, not only will you get unregulated market conditions, but you will also be overcharged for it.
You have all the reasons to avoid the Garant Market scam.
You can choose one of the three account types called tariffs:
Each account brings higher leverage and access to more assets. A real trader account is swap-free, while the Major player brings deposit insurance.
Garant Market Demo account is not enabled. Once you register an account, you can overview the platform and confirm trading conditions.
Garant Market minimum deposit is $150 and can be made using Bitcoin or USDT.
On the other hand, withdrawals are not mentioned. No Garant Market Withdrawal Policy or any other document would specify the procedure for us.
We only found that you can withdraw your profit in total because the broker charges no fees. Since everything else we’re told is fake, we wouldn’t be surprised to learn about hidden fees or malicious bonus clauses.
We’re here to guide you through the recovery procedure!
Garant Market is a wannabe trading firm that pretends to have valid regulations. It’s not worth your time or money. If, however, you already fall for their story, contact us for help with a refund.
Broker offers access to the platform but doesn’t provide a risk-free Demo account.
Company requires its customers to deposit a minimum of $150 to start trading.
Since the firm is anonymous and banned by the Central Bank of Russia for scam activities, your funds are not safe with a Garant Market broker.
Garant Market is a wannabe trading firm that pretends to have valid regulations. It’s not worth your time or money. If, however, you already fall for their story, contact us for help with a refund.
Broker offers access to the platform but doesn’t provide a risk-free Demo account.
Company requires its customers to deposit a minimum of $150 to start trading.
Since the firm is anonymous and banned by the Central Bank of Russia for scam activities, your funds are not safe with a Garant Market broker.
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