Table of Content
GLE Markets Review – Sign That This Broker Is A Scam
Table of Content
GLE Markets presents itself as the fastest-growing broker in the world. It’s strange because we haven’t heard anything about such a company. The impression of the official GLE Markets broker website is not so good. The design is reminiscent of hundreds of other similar platforms many other scam brokers use.
At the same time, the broker does not hesitate to call its trading conditions the best. The broker’s Terms and Conditions are full of additional fees and questionable clauses and you would not even be able to open an account to see what sort of conditions this company offers.
So, without further ado, let’s dive into this GLE Markets broker review to shine the light on this investment scam that claims to be legit. Also, we recommend you not to invest in the fraudulent broker’s Globe Invest Hub, SolidusX, and InetMarkets.
|Broker Type||Forex, crypto, commodities, indices|
Regulation of GLE Markets and Fund Security
GLEMarkets.com claims to be a recently created UK-based broker. However, this broker violates some key UK regulations. They offer bonuses and very high leverage even to retail traders. Moreover, they do not seem to be regulated by the UK financial regulator, the FCA, at least as of yet.
On top of that, as we have already mentioned their Terms and Conditions say the platform belongs to GLE Markets Management Ltd, registered in Saint Vincent and the Grenadines. There are several reasons why we’re inclined to believe the second story. For a start, all brokers registered in the UK belong under the strict supervision of the local authority, FCA. Once we searched for GLE Markets regulation, we found nothing.
GLE Markets Trading Platform Overview
GLE Markets claims to be offering “an award-winning web-based platform” and they also mention the industry standard MetaTrader4 and MetaTrader5, but in reality, we were not able to access a trading platform at all.
There was no “Sign Up” option, just a “Sign In” one. This broker does not seem to accept new clients at the moment. This is not unusual for scammers since they prefer to only allow certain people to open accounts and distribute credentials via phone or email. This way, the scam could remain undetected for a longer period.
Available Account Types
Oddly enough, there are no GLE Markets account types. The company doesn’t list any perks you can get if you pay a higher sum. It’s quite unusual since most legit brokers give certain benefits for larger investments.
In addition, GLE Markets Demo or Islamic accounts are also unavailable. Clients cannot review the platform or exercise their right to trade swap-free. All in all, this brokerage is unfavorable and completely non-transparent.
Let’s see what the website lists as available trading instruments. Note that none of this can be verified without platform access.
- Forex pairs
Shares aren’t listed, and we’re unsure whether it’s just an oversight or whether the broker doesn’t allow investing in one of the most popular assets.
Deposit and Withdrawal Procedures
On the website, GLE Markets mentions several payment methods that it accepts, and those include the following:
- Visa or Master credit or debit card
- Wire transfers
No matter what payment options this broker offers it won’t be a good idea to invest here. Be extra careful especially when it comes to any transactions where someone is asking for your card info as they will be able to make them later on without your knowledge.
And always remember to stay away from fraudulent brokers that will push you to start with higher amounts and that will also push you to invest only with crypto.
GLE Markets Scammed Me How Do I Procure a Refund?
If you have already deposited with GLE Markets or any other scam broker you are probably wondering whether you could get back your money.
You have already opted for a withdrawal many times and all your attempts have been turned down because scam brokers like this one simply don’t process withdrawal requests as a rule.
In this case, your only option would be filing a chargeback and this is possible if you have deposited with a credit card like Visa or MasterCard. This scam broker claims to accept such cards, bank wire transfers, and some of the most popular eWallets.
So, hopefully, you’ve paid with a credit card. If you haven’t, though, you just have to accept you have been scammed and watch out for people trying to pass as“recovery agents’ and offering to retrieve your money for a fee.
Beware, this is just another type of scam!
GLE Markets Summary
While conducting this broker review we found that GLE Markets is an offshore broker that follows no regulations and therefore offers no safety for trader’s funds.
Not only are they unlicenced, but they have been falsely claiming to be. Additionally, they are also claiming to be operating from the UK, but for this to be true, they must be regulated by FCA, which they are not.
The minimum deposit requirement is also set at $300, which is just too high and rarely seen with a regulated firm. On top of that, their trading platform is just a basic web trader that doesn’t even work properly. Overall, they are not worth your time.
Lastly, the broker doesn’t even offer a demo account for potential traders, which never happens with licensed brokers.
A good rule of thumb is to carefully review as many forex companies as possible before you swipe a card. And also remember to always think twice before investing anywhere and make sure you read the reviews first.
FAQs About GLE Markets Broker
Is GLE Markets a Trustworthy Broker?
No, GLE Markets is not a trustworthy broker as they follow no regulations and have no license for providing trading services.
What Is the Minimum Deposit at GLE Markets?
The minimum deposit with GLE Markets is set at $300, which is just too high but common with trading scams.
What Funding Methods Does GLE Markets Accept?
GLE Markets accepts these funding methods: credit/debit cards and wire transfers.