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Saint Vincent and the Grenadines
Within 1 yearSuspicious Regulatory License
High potential risk
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Quantity 6
Exposure
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Regulatory Index0.00
Business Index3.87
Risk Management Index0.00
Software Index7.98
License Index0.00
No valid regulatory information, please be aware of the risk
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40G
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Company Name
Grow Trade Matrix Limited
Company Abbreviation
GTMX
Platform registered country and region
Saint Vincent and the Grenadines
Company website
Company summary
Pyramid scheme complaint
Expose
Only deposits are accepted, no withdrawals allowed, everyone stay away from scams
The team of Tran Anh, Bao Ngoc, Quang Huy specializes in luring prey into the Zalo group, adding expert instructions, matching orders from GTMX exchange, creating negative account balances and matching orders. They pressure customers to deposit money to cancel orders, otherwise their accounts will be burned. If customers do not follow the expert's instructions, the exchange intentionally adjusts prices up to 3.4 times, adjusts overnight fees, and I enter an order of 0.8 to be deducted $1600 over 3 nights. They deceive customers into buying stocks to receive dividends, but the exchange does not pay on the dividend payment date. They manipulate accounts to burn them, then use the excuse of strong market news to inflate ridiculous fees. Meanwhile, throughout the month, there are still very few overnight fees for regular transactions. They only stop adjusting the overnight fees up to 3.4 times when the account is burned. Everyone should be careful not to deposit money, as the account will be burned and there will be no way to withdraw any money. If someone no longer has money to deposit, they will be forced to burn their account. I hope everyone will join hands to report these scammers at GTMX exchange. I have lost all my money because of them.
Unable to withdraw deposits, I lost 15,500 USD on this platform. The staff manipulated orders and caused investors' accounts to burn out. The employee named Tony claimed to be an expert and gave orders, then manipulated the orders, causing the account to be at risk of burning out and enticing additional deposits, leading me to incur debts outside of society. Now my family is deeply in debt and has fallen apart.
Can't withdraw money, empty orders, can't withdraw many times, can't withdraw the first time but can't do it the next time, forced to trade more crap orders so the customer burns their account and can't withdraw anymore. Anyone who does not comply will not be allowed to withdraw money
Embezzlement of assets. Unable to withdraw money. From sales to technical, all are deceptive.
I have just started learning about TT but I got involved with this GTMX platform and all kinds of ridiculous reasons. They cleverly manipulate the time to make the account balance almost negative, sometimes even exceeding the balance. They manipulate the negative margin to play with the investors' psychology, forcing them to deposit more to close the positions. After more than a month of trading, I haven't received any stop-loss orders from the so-called experts, I had to cut the positions myself. When the capital and margin balance have a surplus of a few thousand units, I tried to withdraw 500 units each time, but I had to wait for 4-5 days and still couldn't withdraw. When asked about it, they gave me countless ridiculous reasons. When I deposited more to close the positions, they placed random orders to prevent me from having enough funds to withdraw. If I place a large order to close the positions, they immediately issue a warning as if they are afraid that I will be able to close them, but if my account burns, I have to bear the loss myself. And that so-called platform manager, he talks to investors as if he is their father, giving recommendations and then saying "do you understand?" in a fatherly tone. When I turn on the platform, he turns it off immediately. From the platform manager to the so-called experts, they all have the same voice, pay attention and you will discover it. I wish all traders to always be vigilant in this increasingly sophisticated market full of scams. ❤️🔥
Broker Name | GTMX |
Founded in | 2023 |
Registered in | Saint Vincent and the Grenadines |
Regulated by | Not regulated |
Market Instruments | forex, cryptocurrencies, shares, commodities, indices |
Account Types | Standard, Islamic, ECN, and Pro |
Minimum Deposit | $100 |
Maximum Leverage | 1:500 |
Spreads | From 0.1 |
Commission | Account-based |
Trading Platform | MetaTrader 5 Desktop/PC/Mobile |
Customer Support | support@gtmx.com; +6622547228 |
GTMX, registered in Saint Vincent and the Grenadines, offers a wide range of market instruments including forex, cryptocurrencies, shares, commodities, and indices. The brokerage provides multiple account types such as Standard, Islamic, ECN, and Pro, catering to diverse trading preferences. Utilizing the MetaTrader 5 platform across desktop, PC, and mobile devices, GTMX ensures robust trading capabilities with features like advanced charting and automated trading options. Spreads start from 0.1, with commissions structured based on account types.
GTMX appears to operate without regulatory oversight, as there is no information indicating any regulatory authority overseeing its activities. This lack of regulation can be a concern for investors seeking assurance of compliance with industry standards and protections. Potential clients should carefully consider the implications of choosing an unregulated brokerage, as it may involve increased risk due to the absence of regulatory scrutiny and investor safeguards typically provided by regulated entities.
GTMX offers a diverse array of trading instruments and provides flexibility with spreads, making it appealing to traders seeking variety and competitive pricing. The use of the popular MetaTrader 5 platform enhances trading capabilities with advanced features and cross-device accessibility. GTMX also caters to different trading preferences through multiple account types. However, the brokerage has limitations with deposit and withdrawal methods restricted to crypto wallets, potentially inconvenient for those preferring traditional banking methods. Operating without regulatory oversight also poses inherent risks, as investors may lack the usual protections and assurances provided by regulated entities. Investors should weigh these factors carefully when considering GTMX for their trading needs.
Pros | Cons |
• Various trading instruments to trade | • Operates without regulatory oversight, potentially exposing traders to risks |
• Offers multiple account types | • Lack of educational resources or transparency regarding company policies and procedures |
• Utilizes the popular MetaTrader 5 platform | |
• Provides flexibility with spreads |
GTMX offers a variety of financial instruments for trading including forex, cryptocurrencies, shares, commodities, indices, and social trading. This suggests GTMX might be a suitable platform for investors interested in diversifying their portfolios across multiple asset classes.
GTMX offers four account types: Standard, Islamic, ECN, and Pro.
GTMX offers traders a significant advantage, particularly when it comes to leveraging their positions. Leverage is a powerful tool in the Forex market, allowing traders to control a large position with a relatively small amount of capital. GTMx stands out by offering Forex Leverage for all account types of up to 1:500.
GTMX ensures secure deposits through trusted payment providers via a dedicated client portal. Clients must deposit funds from an account bearing the same name as their trading account. To deposit, access the Client Portal, select the trading account, and choose a deposit method. Complete all required fields as instructed for seamless transactions.
GTMX ensures a simple, secure withdrawal process using advanced technology for transparency and efficiency. Withdrawals are processed promptly, with same-day options available for credit cards and Visa debit cards to enhance user convenience. Like deposits, withdrawals require funds from an account bearing the same name as the trading account. Access your Client Portal, select the trading account, and choose the withdrawal option. Follow instructions to complete required fields for smooth transactions.
GTMX offers a versatile trading platform based on MetaTrader 5, available for desktop, PC, and mobile devices. MetaTrader 5 is renowned for its advanced trading features, including charting tools, technical analysis capabilities, and automated trading options through Expert Advisors (EAs). This platform supports a wide range of financial instruments, providing traders with flexibility and accessibility across different devices. GTMX's adoption of MetaTrader 5 underscores its commitment to delivering a robust trading experience that caters to both novice and experienced traders alike.
GTMX's Customer Support is accessible primarily through email at support@gtmx.comand via phone at +6622547228. While specific details on service responsiveness and support channels are not detailed, clients can expect assistance through these communication channels. It is advisable for potential customers to inquire directly with GTMX regarding the availability and scope of their customer support services to ensure their needs are adequately met.
GTMX offers a diverse range of instruments and the popular MetaTrader 5 platform, potentially appealing to both new and experienced traders. However, the lack of regulation raises concerns. Carefully consider the risks before using an unregulated broker and prioritize platforms with established regulations for investor protection.
Is GTMX regulated?
No, GTMX is not regulated, which means it operates outside of established financial safeguards.
What are GTMX's deposit and withdrawal methods?
Currently, GTMX only uses crypto wallets for deposits and withdrawals.
What platform does GTMX use?
GTMX utilizes the MetaTrader 5 platform, accessible on desktops, PCs, and mobile devices.
Trading online carries inherent risks, including the potential loss of your entire investment. It's essential to recognize that online trading may not be suitable for everyone, and individuals should carefully consider their risk tolerance before participating. Additionally, please be aware that the details provided in this review are subject to change as companies update their services and policies. Therefore, it's advisable to verify the most up-to-date information directly with the company before making any trading decisions. Ultimately, the responsibility for utilizing the information in this review lies solely with the reader.
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