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Global Markets Association (GM-associations.com) is one of the new, suspicious Forex brokers operating from the controversial Marshall Islands.
Nothing should compel you to create an account with a scam Forex brokers if the market is already producing decent and well-regulated Forex brokers.
This broker is running their business from the GM-associations.com web address and promising transparency, safety of client funds and state-of-the art technology.
GM Markets Association boasts of “award-winning customer service’ but in the real sense this broker has not won any awards just yet.
GM-associations.com seems to provide only two account types for trading.
The first one is the normal account for all clients and the second one being Islamic trading account.
I was not able to explore features on these account types because the broker did not publish them on their website.
They require people to sign up with personal information like name, email and phone number before they can even disclose minimum deposit.
In my opinion, this is creepy and many traders who are conscious of their privacy will not even sign up.
At the moment, GM-associations.com is not telling traders what their spreads are, leverage and every other crucial information that is associated with a Forex trading account.
Global Markets Association review
There’s nothing to write home about.
As I have said before, GM-associations.com is not keen on disclosing the most fundamental things that are associated with Forex trading on a broker’s platform.
This is the number one red flag or even a full blown smoke sign which I will not ignore, starting with their suspicious location.
The only information concerning trading that we have is that their platform provides a demo account, MT4 web and mobile in addition to MT4 for macOS.
In addition to this, they claim that their Islamic Account type will not charge interest and will be operated according to the terms of Riba al-Nasi’ah.
With a broker that is not transparent, one can’t expect 100% honesty in everything they say.
This is actually a disqualifying factor, and I even fail to understand how GM-associations.com is supposed to be a fast-rising, award-winning Forex broker.
Who is GM-associations.com (Global Markets Association)?
The website is being used for the purposes of running a Forex brokerage business.
Secondly, this broker is only 3 months old and is associated with no company or names of individuals.
I don’t know why a trader would pick them when there are several established brokers with a reputation spanning decades.
Information on the footer of this website makes reference to a company called BI Level World LTD.
There’s literally no information about this company on the internet.
In fact, the Marshall Islands company register is not transparent either, so it’s not helping me gain any meaningful information.
How do we know whether GM Markets Association is lying in the first place?
There have been similar incidences where a website claimed to be associated with another company only to find that the company is either not registered or was dissolved.
This is why we can’t take their word for it.
It’s risky because when GM Markets Association decides to commit massive fraud, where do victims launch their complaints?
The rogue Forex brokers of Marshall Islands
GM Markets Association is sharing an infamous physical address with hundreds of other Forex brokers and shady financial entities.
The address in question is:
Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960.
Mainstream financial regulators like the FCA have blacklisted more than 5,000 purported Forex brokers operating from this very same physical location.
And there are those unreported cases where brokers defrauded victims or disregarded the law but their names never made it to the blacklist.
In fact, the Marshall Islands, where GM-associations.com is operating from is coming second, after the global investment fraud hub, Tel Aviv, Israel.
Any broker with their headquarter being situated on this address is neither registered nor licensed.
This is a far-away place where financial regulations either do not exist or are disregarded.
For this reason, I cannot recommend Global Markets Association.
Predatory terms and conditions
I was dismayed at their rude terms and conditions where GM Markets association insisted they will not be transparent with their pricing.
3.12. All price levels in the trading terminal are determined at the Company’s discretion. Any references of the Client to prices of other trading or information systems shall be disregarded.gm-associations.com
They want to increase or decrease spreads at will when traders don’t even know what spreads they are paying:
3.16. The Company has the right at its discretion to increase or decrease spreads on Financial Instruments depending on market conditions.gm-associations.com
Withdrawals are processed within the first 30 days of opening an account with GM Markets Association.
But there is absolutely no reason why a broker should take more than 1 day to release your money.
The minimum withdrawal is $50 while other Forex brokers let their clients withdraw any amount below this threshold.
I clearly disagree with these silly rules.
I did not mention the bonus but rest assured that accepting a deposit bonus from this broker isn’t a good idea either.
It seems that this broker has other intentions as opposed to being transparent and loyal to its customers.
One look at their terms and conditions page will tell you that they have unfair business practices on their clients.
They also can’t explain why they are unregulated.
Their location address is a huge turn off as most scam Forex and Crypto brokers fly under the radar of authorities by setting up base here.
The risks of trusting GM-associations.com are too huge to disregard.
Thanks for reading.