Note: GTS's official website: https://en.gtsforex.com/ is currently inaccessible normally.
GTS Information
GTS is a financial company founded in 2015 and operates under suspicious ASIC clone status. With minimal information through Internet, we can only get that the GTS is a forex brokerage company and offers the famous and user-friently MT4 trading platform. No more details about its background and trading conditions can be found.
Is GTS Legit？
GTS claims to hold four regulatory licenses: a suspicious clone Australia Securities & Investment Commission (ASIC) license numbering 486229, a revoked license from Australia Securities & Investment Commission (ASIC) with license no. 001274363 and two revoked FCA (Financial Conduct Authority) license numbers at 815179 and 784199 respectively. With either revoked or suspicious clone status of all these licenses, there's huge problem about GTS's regulatory compliance.
Downsides of GTS
Unavailable website: GTS's website cannot be opened currently. Not any reliable broker will behave like this.
Regulatory concerns: The regulatory status with revoked ASIC, FCA and suspicious ASIC cloning indicates less customer protections and compliance to industry standards of the broker. Trading with GTS is of high risk.
Limited transparency: Important info on accounts, leverage, spread, commission even market instruments are not publically available.
Plenty of negative customer reviews: WikiFX recorded 141 exposures about withdrawal issues and fraud, which is very serious warning sign that the company is a scam.
Market Instruments
We are not sure about GTS's business scope due to the company's extremely limited transparency. It claims to be a forex brokerage on its previous webpage, suppose forex is its main trading instrument.
Trading Platform
GTS claims to provide the most renowned and reputable trading platform MetaTrader4. It's a world recognized platform highly appreciated for its one-stop functionality for market updates, charting tools, technical analysis and trade executing.
Negative GTS Reviews on WikiFX
On WikiFX, “Exposure” is posted as a word of mouth received from users.
Traders are encouraged to review information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.
As of now, there are 141 pieces of GTS exposure in total. I will introduce two of them.
Exposure 1. Withdrawal issue
An Australian investor reported that he did not receive his withdrawals even though request had been submitted more than three months.
Exposure 2. Fraud
An investor from Hong Kong reported fraud of this broker since his withdrawal hadn't reached his account since Mar 2020. The police didn't file case for him either.
Customer Support
The company can only be accessed through Phone: +44 2035146999, Email: backoffice@gtsforex.com and QQ: 3080134024.
Conclusion
In conclusion, GTS was established in 2015 and operates under revoked ASIC/FCA and suspicious ASIC clone status. Limited transparency and its unavailable website give us reasons to believe that the company might have been absconded. 141 exposures recorded on WikiFX further corroborate its unreliability as a scam broker who set unreasonable barriers for traders to withdraw their funds.
Therefore, keeping away from untrustworthy and risky brokers like GTS saves you money.
2024-01-16 12:25
2023-12-28 12:14
