At first glance, GLEMarkets.com appears to be a trustworthy new broker. Its website is attractive and promises security and dependability. Yet, this business is unlicensed and makes promises that no broker based in the same country as GLEMarkets.com could. The broker’s Terms and Conditions are loaded with extra costs and dubious phrases, and you aren’t even allowed to register an account to discover what kind of terms this business actually provides. Although we were willing to give this organisation the benefit of the doubt by merely labelling them a broker who is too new and not actually operational yet, that is most likely not the case — this is just another risky fraud. Read a complete GLE Markets review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.
GLE Markets Review – Regulation
GLEMarkets.com asserts to be a recent broker situated in the UK. The fact that this broker offers bonuses and very high leverage to even retail traders violates several important UK legislation. Furthermore, they don’t appear to be currently subject to regulation by the FCA, the UK’s financial regulator.
We were not actually permitted to sign up for an account at GLEMarkets.com or check out the broker’s platform. This broker does not appear to be currently accepting new clients as there was no “Sign Up” option, only a “Sign In” one. Scammers frequently limit who may open accounts and only give out credentials over the phone or by email, which is not unusual. This would enable the scam to operate covertly for longer.
Deposit And Withdrawal Methods And Fees
We are unable to verify GLEMarkets.com’s claim that wire transfers or credit or debit cards are acceptable forms of payment for deposits because we do not have an account. Standard withdrawal costs were $25 for wire transfers and 5% for credit/debit card withdrawals. However, because this broker has clearly not shown themselves to be dependable, we highly advise against making a deposit with them.
Even if the broker doesn’t intentionally rob you, they will make sure of it by charging you extra fees. The broker plainly indicates that most consumers allegedly tend to invest $10,000 solely over the first 30 days. As a result, there is a yearly management of 2% of the funds in your account, which is quite a lot. Also, there is a performance charge of 20%, which means that the broker will take 20% of all of your gains, which is clearly not standard practise among professional trading businesses.
How does GLE Markets Scam Work?
Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.
They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is GLE Markets broker Legit or a scam: Conclusion
It is clear from the GLE Markets review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from GLE Markets and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by GLE Markets? Scam Helpers can help
If you are a victim of the GLE Markets scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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