After receiving several Goldmar complaints, we decided to do a detailed overview. Who is the scheme firm behind the operations, and how can you recover your funds?
All this and more will be answered through this detailed Goldmar broker review. Let’s highlight the main issues and how to avoid them.
Goldmar Forex brand belongs to Combobulating Group LLC, registered in Saint Vincent and the Grenadines. The main issue here is that the FSA of SVG doesn’t regulate Forex and CFD firms. Practically, if you want to run a business, you need to register with the FSA and obtain a license in the country of service.
Knowing this, we searched for the Goldmar regulation in the databases of CONSOB, FCA, ASIC, BaFin, and other eminent Tier1 license providers. As you can guess, we haven’t found anything.
To summarize, broker Goldmar is offshore, unlicensed, and blacklisted by one of the regulators. Thus, it’s not worth your time or money.
Goldmar is an offshore broker based in Saint Vincent and the Grenadines. It provides financial services with no license. The company was blacklisted by the Italian CONSOB.
Most of these companies are established by third parties and avoid being connected to any person. That’s how those in charge avoid legal actions and responsibilities of any kind.
Once we’ve researched Goldmar reviews, we’ve seen lots of negative experiences. Therefore, we believe other regulators will follow CONSOB and ban this scheme.
The majority of victims of the Goldmar scam come from:
As you can see by the CONSOB warning, Italy as well. It’s a matter of time before Goldmar.co will vanish. Report the scam before it happens and recover your funds!
Goldmar fraud has been active since May this year. It’s aggressively advertising on social media and via Google, luring victims into deception. Customers see typical “get-rich-quick” ads, but they are wrapped into somewhat believable scenarios this time.
Once an unsuspecting client subscribes and leaves phone and email, the broker is ready to attack. Employees start sending numerous messages and call to offer various promotions and send all of this via email as clickbait.
If you deposit the funds, you may be added to WhatsApp and Telegram groups, where account managers send special signals to VIP investors. In reality, this is just a lure to make you deposit more.
Finally, even if you have never registered for trading, scammers may get ahold of you through social media – Facebook, Instagram, and even dating apps such as Tinder and Bumble. Be careful.
Goldmar’s trading platform is solid ground for Forex beginners. It’s a WebTrader with a substantial choice of charts, pending orders, and several indicators. However, it’s unsuitable for any advanced trading strategies.
Social trading, EAs, and other advanced features are not supported. We advise you to find a legitimate trading brokerage offering MT4 or MT5. Then, you’ll be sure that you have the most reliable software offering the best fund security.
There are no mobile apps available for Android or iOS. Phone users will have to use their web browsers for the Goldmar login feature.
This is rather inconvenient and doesn’t invoke trust. Once again, using MetaTrader is a far better option.
We’ve prepared an overview of trading assets if you’re still interested.
Like most online brokers nowadays, Goldmar enables CFD trading. CFDs or contracts for difference allow investing in the price of an asset instead of purchasing it physically. It increases the chances of market success as clients can earn even if the price drops.
Note that this kind of trading carries certain risks that are even higher when dealing with phony wannabe brokers.
The spread starts at 2 pips for EUR/USD benchmark. This is rather pricey and above the industry average. According to the Account Types section, the firm doesn’t charge any trading commissions.
Therefore, their utmost goal is vanishing with your deposit.
The offer for Goldmar trading account types is rather poor. There are only 3 options:
Besides leverage, accounts differ in service expertise and spread.
Goldmar Demo account is not enabled. Clients can take a peek at the platform before depositing but cannot place any trades.
Scam brokers usually force their customers to invest on the spot without giving them a chance to check the offer. Instead, you may find yourself in debt to the firm when you realize there’s no negative balance protection.
There’s a significant discrepancy between the Deposit Policy and actual options for depositing. Goldmar’s minimum deposit is 250 EUR and can be made using:
The Deposit Policy also mentions wire transfer, but the deposit page doesn’t provide this option.
We always advise you to use your credit card as you’re entitled to a chargeback within up to 540 days. It’s your safety net for scammers such as this one.
The broker charges some hefty fees of 50 units for wire transfers and 25 units for card withdrawals. Additionally, clients are prompted to pay taxes and bank fees upfront.
Brokers cannot charge a commission for anything other than trading. Since this commission is deducted from profit, there are no reasons to pay more.
Note that if a trading firm demands any monetary transfers from your bank account or a credit card, you are about to be defrauded. Time to file a report!
Being a scam victim is never easy. You keep thinking about what could be done differently. The truth is, instead of looking at the past, you should focus on the present. You should fight scammers and recover your funds.
Goldmar is a fraudulent online trading brokerage without a trading license. We advise you not to engage. If you were already defrauded, allow us to help with the recovery process.
No, Goldmar broker doesn’t offer a Demo account but only a platform overview upon registration.
Goldmar gives you a deposit bonus requesting you to repay the amount plus the deposit 25 times before being eligible for a withdrawal.
Goldmar broker asks customers for a minimum deposit of 250 EUR.
You can trade both crypto and CFDs, but we strongly advise against it since the firm is not legitimate.
Goldmar is a fraudulent online trading brokerage without a trading license. We advise you not to engage. If you were already defrauded, allow us to help with the recovery process.
No, Goldmar broker doesn’t offer a Demo account but only a platform overview upon registration.
Goldmar gives you a deposit bonus requesting you to repay the amount plus the deposit 25 times before being eligible for a withdrawal.
Goldmar broker asks customers for a minimum deposit of 250 EUR.
You can trade both crypto and CFDs, but we strongly advise against it since the firm is not legitimate.
The post Goldmar Review – Watch Out For Goldmar.com Trading Scam appeared first on Global Fraud Protection.
