GBG Limited- Impersonates A Properly Regulated Firm

It is unclear what kind of impression the GBG Limited website is trying to leave. Surely, by impersonating a UK regulated business, they can fool newbie investors, but only to some extent. If the firm was indeed operating out of the UK, why would the only site language be Spanish?

Otherwise, the anonymous entity behind the brand claims to provide safe and reliable trading on more than 15,000 instruments. Financial authorities have something different to say about this illicit firm. Read all about it in our GBG Limited Review.

Just A Clone

GBE, as the company behind the site is allegedly named, doesn’t exist in any register of authorized broker dealers. Our search through the respective databases has proven so. What the search also showed were the warnings on this conduct, issued by FCA, CONSOB, and IOSCO.

As the authorities report, the platform is a result of a poor attempt of cloning a well-regulated firm operating in the UK. This proves that the nameless bunch running the site doesn’t provide the necessary fund protection in form of segregated accounts, compensation funds and transparency. 

Additionally, the business ethics in work are against the legal framework in the very jurisdiction where they claim to be based in. 

How Con Artists Operate

Our inquiry into the WhoIs database revealed that gbglmtd.com was launched in March of 2023. The majority of the website traffic originates in the following countries:

• Mexico
• Germany
• United Kingdom
• United States
• Australia

Fraudsters are active on the Facebook social platform, where they disseminate misleading articles about easy earnings on the market. While their profile does not have many followers, their content is widespread.

The brunt of the work is performed by boiler room agents, who in a fashion similar to the Forex48, pick up the phone and pester people to invest. They usually present themselves as finance professionals, or experienced traders with sure-fire knowledge about the market.

With the amount of persuasion and sheer number of unsolicited phone calls, some people eventually crack. Once the money is in the schemer’s hands, however, it’s difficult to recover it without professional help.

Clients Are Not Satisfied

Besides the social network activity, the company doesn’t have much of a digital footprint. If you check the review websites like TrustPilot, however, you will learn the ugly truth first hand. All of the client testimonials are universally critical of the firm, with 100% 1-star ratings.

Be warned that this may not be the case with every deceptive platform, as firms like SPmarket24 use so-called review seller networks to artificially raise their reputation!

High Leverage And Hidden Costs

Any pages on gbglmtd.com that should allegedly contain detailed data on spreads, fees, commission or swap for instance, are identical to the homepage.

Nowhere will you find the Terms and Conditions either, so it’s impossible to discern how much trading here costs. Something that the broker openly advertises is a leverage of 1:500, which is much higher than the UK regulatory maximum of 1:30.

Cashback On Deposits

The company compels any website visitors to make an instant payment through a pop-up. It advertises a 20% cashback for clients that use the Antares payment service. The link leads straight to this payment platform, which is, in all honesty, as shady as the broker themselves.

Zero Trading Insight

The platform makes numerous allegations and claims, and provides nothing to substantiate them. Problem here is two-fold, as not only is the website opaque about trading features, the GBG Limited login is also blocked.

In order to access any trading facilities, you must first obtain a promo code, which is disseminated only through company agents.

Inaccessible Platform

There’s only a single picture showing the GBG Limited platform, and that’s all the information about it. Although the platform is shown as operating on a tablet and a smartphone, there are no download links.

The situation is much different when trading on a regulated terminal. Reputable companies nearly always provide cTrader, MT4 or MT5 to their clients, as these programs are considered industry standard.

TradingView Instruments

The imported charts show the price movement of instruments provided by TradingView. These groups of tradable assets are what the trading portal only claims to provide, but without proof of it:

• Forex (EUR/USD, USD/GBP, EUR/JPY)
• Indices (SPXUSD, NSXUSD, DJI)
• Commodities (Gold, Crude Oil, Natural Gas)
• Bonds (T-Bond, Euro Bund, Eurodollar)

Single Live Trading Account

The “One Account For All” policy is only good as a propaganda slogan, and not much else. This means that all clients basically have to make a leap of faith, since there’s no info on minimum deposits or other account parameters. A demo account is not provided either.

Legitimate brokers always provide several account types that feature different pricing strategies. The current industry average for minimum deposits is $10 or less.

Unsafe Transfers

The illusion of facilitated funding is created with the claims about fast and seamless transfers through dozens of different methods.The GBG Limited withdrawals are supposed to be available via:

• Credit Cards
• Wire
• Crypto 
• E-wallets

Without access to the client area and the concrete payment conditions and channels, we cannot confirm any of these are available at all. In addition, no legal documentation exists to explain how these processes work and what is the exact method of charging the transaction services.

Unreachable Customer Service

The GBG Limited support should be available via phone and online form during business days. Not only that, but the platform allegedly provides multilingual support that is supposed to ensure the most enjoyable trading experience. 

All these claims aside, it is highly questionable if one wannabe brokerage agency has what it takes to provide such high-ranking service. Most probably not.

There Is A Way Out! Start Your Chargeback Today!

This broker is all bragging and no substance. Their website contains no tangible data, and the little info that does exist cannot be verified unless you’re willing to cough up the cash first. It’s a trap laid by the swindlers, and fully exploited by boiler room agents, who urge their targets to act on impulse.

It’s difficult to resist these persuasion experts. If you invested with this so-called broker, and now find yourself in a bind, we can help you recover your assets. Book a free consultation with our chargeback experts today, and start your chargeback!

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