The financial services provider GMM Invest guarantees favorable conditions and instant order execution. However, finding real reviews about the company is almost impossible, which raises some thoughts considering the claimed 10 years of experience. Let’s investigate how well-deserved the reputation of GMM Invest is and clarify all the nuances.
Interesting Facts About the Company
The website gmm-invest.com was created on May 18, 2016.
Interesting fact: the website archive shows that it previously belonged to a body repair center. This resource was acquired and redesigned to suit the needs of GMM Invest. It is worth noting that the website was updated on July 1, 2021, which likely coincides with the broker’s launch. Due to its novelty, the company has not received much online feedback yet.
The GMM Invest website states that the broker is regulated by the Financial Conduct Authority of the United Kingdom, but there is no confirmation in the form of a scanned license copy. Verification in the FCA register disproved this fact. Additionally, the company does not have a license from the Central Bank of the Russian Federation, indicating illegal activities in Russia.
Company’s Inner Tricks
- Clause 3.3 of the user agreement allows the company to unilaterally terminate the contract, accusing the client of fraud,
- Clause 3.4 removes the broker’s responsibility for recommendations made, shifting the blame for losses onto the client,
- Clause 6.1 holds the client responsible for the safety of the deposit, opening doors to possible fund theft,
- Clauses 6.2 and 6.3 enable GMM Invest to cancel trades and change conditions without detriment to itself.
Based on the above, cooperation with GMM Invest poses serious risks and can lead to financial loss.
Terms of Cooperation
Information about the available account types is sometimes contradictory: from 290 to 80 instruments. Their overview is as follows:
- The “FIX” account requires a deposit of $250, promises a fixed spread, 75% margin, 1% stop out, leverage up to 1000, fast execution, and other benefits,
- The “Standard” account with the same deposit, but with a spread from 1.2 pips and other conditions,
- The “ECN” account with a lot commission of $4, best spreads, and other characteristics,
- The “VIP” account with a minimum deposit of $20,000, favorable conditions, and a personal manager.
Although there are few reviews about trading with GMM Invest, the presence of fraud signs makes them untrustworthy.
Negative Aspects of GMM Invest
Experts warn against collaboration with this company, citing the likelihood of capital loss and characteristic deceptive behavior. The decision is yours, but the risks are evident.
Review of Reviews
GMM Invest operates on a standard fraud scheme, singling you out, manipulating your investments, and trader reviews. Hoping for honesty and stable income is unlikely to be worth it.
Summary
Therefore, GMM Invest is not the best choice for investing. The company operates without licenses, is prone to fraud, and does not provide reliable conditions for clients. Conclusion: avoid this broker.
My experience with GMM Invest was highly disappointing and I would not recommend their services to anyone. The broker constantly provides unreliable advice. The spreads are unnecessarily high, and the hidden fees are astounding. Their customer service is non-responsive, which leads to unnecessary confusion and misunderstandings. The conditions that they operate under are vague and unprofessional. My whole trading experience was full of stress and frustration due to the poor platform performance, leading to a significant loss on my investments. Trading with GMM Invest was a decision I regret.