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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

GSM

United Kingdom|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.gsmfx.net

Website

Rating Index

Contact

+44 2084 323 088
info@gsmfx.net
https://www.gsmfx.net
41 DEVONSHIRE STREET, GROUND FLOOR OFFICE 1
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

Licensed Institution:H Four Glory Pty Ltd

License No.:001281851

Warning: Low score, please stay away!
2025-01-18
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
3

Basic Information

Registered region
United Kingdom
Operating period
5-10 years
Company Name
Grand Signal Markets Limited
Customer Service Email Address
info@gsmfx.net
Contact number
00442084323088
Company website

OM 6551

United Kingdom

from internet far east people scamming europian it seems like the company register in uk but reality after police review is scam and fraud chiness man behind it . don’t trust this scammer i have lost lot with them . totally fraud .

Exposure

2024-02-19

OM 6551

United Kingdom

I was contracted by Viber to register the group as they have over 200 people crowed group everyone talking about it how great platform is it . girl calm Wendy contract me and talk to her lots of time over the phone also I was convince to invest over all for Rocket project I hav invested £50000 and start trading with company call Wintersnowx . after few weeks is Chnage to GSM company still trading with MT5 and few weeks later it’s Change to OBFX and traded for month made 508 usd total . in return of withdraw they clear my account and block my account without access . all the money was vanish from account also . need support and help to recycler the funds as well as warn to people about fraud . this company and group of people play some game to take your money . simply they are farud . Wintersnowx WintersnowFX . GSM OBFX this all Company are same and they all fake and fraud . I have full pack of evidence for communication , emails , MT5 account details and account details . also evidence of company and money deposit through BInace . I hope I will get some help .

Exposure

2023-01-22

FX1212733337

Saudi Arabia

He's a crook. He closed my account and there was 4000 dollars in it

Exposure

2023-01-14

FX57947855

United States

During the time I was investing on this platform, I made about $51000, GSM formally called wintersnow using their online platform, I was unable to withdraw. My deposit was swiftly transferred to my wallet when I submitted a chargeback through Cyb3rNub/net . my account manager executed trades without my knowledge because I have little knowledge of trading. This company have scammed a lot of people and they are not stopping soon

Exposure

2023-01-06

Tommy54353

United Kingdom

This company is a scam company. They told me to give out money within 1-3 working days. They just found various reasons not to give out, and then closed my account, and I couldn’t get in. Then I changed the account password, and they can still do whatever they want. Into my account, all the amount in my transaction was lost, and then they withdrew all the remaining money to their account, and said that it was my own operation that framed me for the loss. Look, God will definitely bring retribution

Exposure

2022-12-29

FX244677432

United Kingdom

I have deposited $340,000 to this broker GSM when i request to withdraw profit they told me that i have to pay personal income tax before i could withdraw

Exposure

2022-11-04

Abby9157

Oman

I registered my account with this company ‎(GSM) ‏and made a large deposit to them. ‏I started trading on mt5 ‏platform. ‏When I wanted to withdraw my money, ‏they started inventing stories for me, ‏and every time I sent them an amount they asked me a new story and kept doing it. ‏I finally realized it is a fake and misleading company and they closed my account and I couldn't open my mt5 ‏account. ‏Until today I don't get my money back. ‏Among them, ‏I don't know if you can help me withdraw my money from this fake company, ‏this is my account with them.950558

Exposure

2022-11-01

Mr773

Saudi Arabia

I registered in Grand signal markets limited by MetaTrader 5 for two months now I want to withdraw my money but they told me can’t withdraw until you transfer more money .. What I can do now ? Who can help me ?

Exposure

2022-10-30

Fx3578064

Australia

They denied my withdrawal and closed my account on the grounds of suspicious behaviour, sending me emails that follows as their justification. Security checks were conducted on my trading account, and they were forced to stop it as a result of suspicious activity on it which i don’t understand . They assured me that all of my deposits would be returned, and I gave them my beneficiary account information in text form so they could transfer my funds which they rejected it was devastating when i realize it’s a scam this is second time posting about GSM my uploaded photo explained further.

Exposure

2022-10-26

Hasegawa

United States

I traded with GSM and was close to losing it all brutally. I had invested in february and traded with them all through till august but they wanted me to keep trading or risk losing the entire investment i managed to initiate withdrawal eventually but it wasn't through GSM 

Exposure

2022-10-26

Fx4679443

United Kingdom

GSM held my $56,000 money hostage without showing any regret, and nobody will told me what to expect. They requested more money as a deposit to help me increase my investment, but when they rejected it, I requested a little withdrawal of my profit. Even though I had completed all of my paper work correctly, the withdrawal did not happen. of AssetsClaimBack . (Without their services, they would have kept my money forever). Instead, look for a different legitimate broker most online investment firm are scam

Exposure

2022-10-24

Евгений Пикунов

Russia

The presented withdrawal receipt is not real.

Exposure

2022-10-20

lung6586

Taiwan

The 65,819USD in my account was swindled by this platform.

Exposure

2022-10-02

FX5743883

United States

GSM is a scam broker I requested a withdrawal a month ago, but it was never processed, they sent me an email saying that because I might have a low balance in my account after withdrawing, I was advised to deposit before requesting a withdrawal. But even after following their request to keep depositing the money the withdrawals were not processed. I started trading and there was a huge delay in my orders and slippage, that's why asked for a withdrawal. It's been 2 weeks and I haven't gotten any more replies!!! Stay away!

Exposure

2022-09-25

YKK2828

Taiwan

Hong Kong netizens were induced to download Binance, metatrade5, and the traders were GSM lunboux limited, Naturalseven limited, and they were unable to withdraw funds in the end.

Exposure

2022-09-24

lung6586

Taiwan

The original account of 65819USD disappeared for no reason, even the mailbox URL could not be found and the platform disappeared for no reason

Exposure

2022-09-24

Tay1

Turkey

this company is not to be trusted at all, withdrawal was a very big problem, my name here aided and did it. first photo here

Exposure

2022-09-24

FX5743883

United States

Unable to withdraw with GSM is all scam stay away from them big liners and trade manipulator

Exposure

2022-09-23

Withdraw by Finrecoup

United States

wish i read the reviews more closely, GSM previously known to be wintersnowFx asked for a tax deposit for me to withdraw my money then reduced my balance to the absolute minimum and blamed it on the volatility of the market 

Exposure

2022-09-23

Nick94770

Singapore

I was introduced to MetaTrader 5 by my online friend and opened an account at Wintersnow Limited and made a 10000USD deposit. Wintersnow Limited informed me that Broker changed from Wintersnow-Server to GrandSignalMarkets-Server; I logged in with the new account and the account funds remain unchanged; I deposited up to 42000USD. I requested the withdrawal from my account on 24th August 2022, the Platform Customer Service requested a 5% of service fee; and Platform Customer Service told me that I was unable to withdraw my fund without paying the 5% service fee. My friend and I paid the service fees on 26th August 2022 and the Platform Customer Service told me that I would receive the withdrawal after 2 working days. I realized that I am unable to log in to my account since 29th August 2022. The fraud platform Grand Signal Markets Limited allows trade and does not allow fund withdrawal. The account cannot be logged in and the Platform Customer Service disappeared. I sent a few emails to them and no reply from them.

Exposure

2022-09-16

38
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Official website

Website

  • gsmfx.net

    Server Location

    Hong Kong

    Website Domain Name

    gsmfx.net

    Server IP

    47.91.164.210

Company Summary

GSMReview Summary
Founded2019-10-23
Registered Country/RegionUnited Kingdom
RegulationSuspicious Clone
Market InstrumentsPrecious metals/Stock index futures/Crude oil
Demo Account/
LeverageUp to 1:200
SpreadFrom 0.0 pips
Trading PlatformMT5(PC)
Min Deposit$100
Customer SupportPhone: +44 2084 323 088
Email: info@gsmfx.net

GSM Information

Registered in the United Kingdom, GSM is a brokerthatprovides investors with precious metals, stock indices, futures, crude oil, and other internationally popular trading products. The tradable instruments with a maximum leverage of 1:200. The broker also provides three accounts with a maximum leverage of 1:200. The minimum spread is from 0.0 pips and the minimum deposit is $100. GSM is still risky due to its suspicious clone status, and bad reviews about stock fraud.

GSM Information

Pros and Cons

Pros Cons
Leverage up to 1:200Suspicious Clone
MT5 availableInaccessible official website
Spread from 0.0 pipsStock fraud
Unspecific transfer time and fee information
No 24/7 customer support

Is GSM Legit?

GSM is regulated by ASIC with license number 001281851, but the current status is 'suspicious clone'.

Is GSM Legit?
Is GSM Legit?

What Can I Trade on xx?

xx offers various market instruments, including precious metals, stock index futures, crude oil, and more.

Tradable Instruments Supported
Crude Oil
Stock Index Futures
Cryptocurrencies

Account Type

GSM has three account types: classic, pro, and VIP. Traders who want low leverage can choose classic and pro accounts, while those with a sufficient budget can open a VIP account.

Account Type ClassicProVIP
Minimum deposit$100$100$5000
Spreads from1.6 pips0.0 pips0.0 pips
Max leverage1:2001:2001:200
Min. lots0.010.010.01
Commission$02 per side per 100000 traded1 per side per 100000 traded
Swap-free Islamic account option

GSM Fees

The spread starts from 0.0 pips, the commission is from $0. The lower the spread, the faster the liquidity.

Leverage

The maximum leverage is 1:200 meaning that profits and losses are magnified 200 times.

Trading Platform

GSM cooperates with the authoritative MT5 trading platform available in PC to trade. Traders with rich experience are more suitable for using MT5. MT5 not only provides various trading strategies but also implements EA systems.

Trading PlatformSupported Available Devices Suitable for
MT5PCExperienced traders
Trading Platform

Deposit and Withdrawal

The minimum deposit is $100. However, the official website is inaccessible, so transfer processing times, methods, and associated fees are unknown.

Keywords

  • 5-10 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk

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