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Score
Cyprus
Regulated in Cyprus
Straight Through Processing (STP)
MT4 Full License
Global Business
High potential risk
Offshore Regulated
Influence
Add brokers
Comparison
Quantity 14
Exposure
Score
Regulatory Index6.32
Business Index6.89
Risk Management Index0.00
Software Index9.99
License Index6.32
Single Core
1G
40G
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Company Name
GVD KORIMCY LTD
Company Abbreviation
GVD Markets
Platform registered country and region
Cyprus
Company website
Company summary
Pyramid scheme complaint
Expose
It's rubbish, my account was inexplicably disabled.
I encountered malicious pin bar on the GVD platform, which caused liquidation. The market price plus the spread did not reach my liquidation price. I communicated with the customer service and manager but got no reply, so I complained to the platform. As a result, my account was blocked the next day. If this is not a scam platform, what is it!
Normal operation, without using any means, the platform claims it is a violation. Is it necessary to use high technology to make money? Is losing money the only normal trading? I must be given my principal and profits.
When I open the official website of the platform, my backend account is not displayed, I cannot withdraw funds, and I cannot contact the backend business personnel.
Directly block my account. No withdrawals will be processed.
My account is 623087, and my USDCHF order on June 21 was maliciously closed. The highest price at that time was 0.89416 with a spread of 20, and my forced liquidation price was 0.89569. There was no such price in the market at that time. I referred to the quotes of other platforms and compared them repeatedly, but communicated with the platform customer service and manager to no avail. It is unscrupulous.
Despite having a consistent long and short position with about $300 in equity remaining, my account inexplicably blew up. I hope the regulatory authorities will supervise and investigate this matter and help me restore my orders.
Exposing the platform for escaping; can no longer log into the account backend. I have reported to police. But even after several months, the issue remains unaddressed.
Inducing customers to trade and defrauding customer's funds. Please solve it as soon as possible.
Before depositing, the agent's attitude was very gentle. After depositing, the agent's attitude became bad, so I don't want to trade anymore. However, this platform requires a $50 fee, or I must make a trade to allow me to withdraw. The agent's attitude is clear, I don't want to trade, but I have no choice but to reluctantly place a order😪😪😪 So please be careful when opening an account. The photo below was provided by the agent.
Rubbish platform, only allows customers to lose money and not make money, now the account cannot be operated, and the agent commission has also been deducted. Is it only considered non-violation if you lose money? Please forward it.
A company without strength, after the account made a profit of more than $400, the withdrawal request has been left unprocessed for half a month, and in the end, only the principal was returned.
The platform do not withdraw money, and agents take positions together. Everyone should be careful not to be cheated.
My friends and I, a total of five people, traded together on this platform and all experienced margin calls. They quit, but I continued and made several deposits, each resulting in a margin call. During my last attempt, despite being cautious and careful, the platform froze, there was slippage, and even attempts to lock were unsuccessful, leading to an immediate margin call. My account number is 627073, and I lost 12582.15 USD in just one order.
GVD Markets Review Summary | |
Founded | 2023 |
Registered Country/Region | Cyprus |
Regulation | CYSEC, FSC/FSA (Offshore) |
Market Instruments | CFDs on forex, indices, metals, energies, stocks |
Demo Account | ✅ |
Leverage | / |
Spread | / |
Trading Platform | MT5 |
Min Deposit | / |
Customer Support | 9:00 to 18:00 Monday - Friday Cyprus local time (EEST or GMT+2 during the summer months and EET or GMT+2 during the winter months) |
Contact form | |
Email: gvdcncs@gvdmarkets.com | |
Phone/Fax: +0035725250025 | |
Address: 61, Griva Digeni A&V COURT office/Flat 401 Agios Nikolas, 3301, Limassol Cyprus |
GVD Markets abides by the regulations set forth by CySEC, FSC and FSA. Traders can access a wide selection of financial products through MT5 trading platform. However, the trading conditions are not clarified openly on their website.
Pros | Cons |
Regulated by CYSEC | Limited information about trading conditions |
Security measures provided | Deposit and withdrawals fees charged |
Demo accounts available | No 24/7 support |
MT5 available |
GVD Markets is regulated by three authorities: the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Commission in Mauritius (FSC), and the Seychelles Financial Services Authority (FSA).
The license type with CySEC is Straight Through Processing (STP), and the license number is 411/22. This means that GVD Markets operates as an intermediary between traders and liquidity providers without intervening in the trade execution process.
With the FSC in Mauritius and the FSA in Seychelles, GVD Markets holds Retail Forex Licenses. But both of them belong to offshore regulation.
Besides, it also offers many security measures including segregation of funds, Negative Balance Protection and investor compensation fund. The Investor Compensation Fund aims to protect covered clients by compensating them for claims against Fund members who fail to meet their obligations. Additionally, they provide Negative Balance Protection, the balance available in their trading accounts.
GVD Markets provides more than 100 financial derivatives, such as foreign exchange, indices, metals, energies (Brent crude oil and West Texas Intermediate crude oil) and stocks.
Tradable Instruments | Supported |
Forex | ✔ |
Indices | ✔ |
Metals | ✔ |
Energies | ✔ |
Stocks | ✔ |
Cryptocurrencies | ❌ |
Bonds | ❌ |
Options | ❌ |
ETFs | ❌ |
To open a live account, simply complete an online questionnaire and submit the necessary documents. Once your registration is reviewed and approved, you can fund your account and begin trading. You will need to provide clear color copies of the following documents:
- A copy of your passport or ID card that clearly displays your full name, date of birth, passport or ID number, and expiration date.
- A recent utility bill (dated within the last 3 months) that includes your full name and address.
GVD Markets offers MT5 trading platform to trade on their products. With its advanced and user-friendly interface, the MT5 platform facilitates trading experiences, allowing clients to analyze markets, execute trades, and manage their portfolios with precision and ease.
GVD Markets provides numerous money transfer options, including bank cards, bank wire transfers, and credit cards like VISA and Mastercard. They accept USD and EUR, with no fees for deposits. However, GVD Markets does not permit deposits made using a third party's credit card; the name on the account must match the name on the card. More details can be learn about through: https://www.gvdmarkets.eu/deposits-withdrawals/
Payment Methods | Accepted Currencies | Deposit Fee | Withdrawal Fee | Deposit Time | Withdrawal Time |
Visa | EUR, USD | ❌ | 3.25% + 2.50 Euro per transaction | Instant | 1 Work Day |
Mastercard | EUR, USD | ❌ | |||
Bankwire | EUR | Depends on different services, i.e. account opening fee: €150; Account Maintenance Fee: €20 and so on | Depends on different services, i.e. account opening fee: €500; Account Maintenance Fee: €20 and so on | 3-5 Work Days |
Recently, we identified a series of fabricated claims about GVD Markets made by a self-media personality from the Arab region. These claims, disseminated through videos on YouTube and WIKIFX , maliciously attack and smear the brand and website of GVD Markets. These baseless allegations were designed to blatantly attack GVD Markets and harm our company’s long-standing reputation and transparent business operations. In light of this, we are issuing this statement to clarify the facts and set the record straight.
Recently GVD Markets has become a trending topic in forex markets. WikiFX made a comprehension review to help you better understand this broker. we will analyze the reliability of this broker from specific information, regulations, etc. Let’s get into it.
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