GTS Financial Review: Who Is Behind GTSFinancial.Net?
The most important thing to know about GTS Financial is that it is not the established and regulated forex broker it claims to be. This website is first and foremost a reminder of the importance of doing careful fact checking before putting your money on the line.
GTS Financial is an unlicensed offshore broker. If you are a savvy reader, you will know that this means the firm is best avoided since such companies turn out to run various scams. And in this GTS Financial broker review we will tackle all the lies this investment scam has stated.
|Broker Status:||Unregulated scam broker|
|Blacklisted as a Scam by:||BaFIN|
|Broker Owner:||GTS Financial LLC|
|Online Trading Platforms:||WebTrader|
|Crypto Asset Trading:||Yes|
|CFD Trading Option:||Yes|
|Available Trading Instruments:||Forex, CFDs, Stocks, futures, metals, crypto.|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Regulation and Fund Security of GTS Financial
The most interesting fact about GTS Financial is that it claims to be operating within the United States, with regulation from there, and offering its services to clients in the EU. That is not possible, because of a quirk in the regulatory regime of the States, which mandates that any brokers registered there are to limit themselves to the markets of the US.
On top of that, to operate as this type of broker in the United States, a company must be registered with the Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association (NFA). GTS Financial Llc is not listed among the members of the NFA.
There is a company with that name in the US, but it is an investment advisor, not an authorized broker. Furthermore, the company operates under a different domain name, gtsfinancial.com. It appears that GTS Financial is using the name and details of this company illegally, which is common in online financial scams.
Another thing we found regarding this fraudulent broker is that they have an official warning issued by BaFIN. So, with this said, it’s best to stay away from this and other scam brokers alike that pretend to have regulation.
GTS Financial Trading Platform Overview
The Gts Financial website promises advanced trading software and specifically mentions MetaTrader 4 and MetaTrader 5, the two most popular platforms among brokers and traders worldwide. But nowhere are there links to download these or other trading software.
The only thing we managed to find was a basic Web Trader that offers very little things and doesn’t actually provide a very good trading experience at all.
On top of that, there is no form to register a new account, only to log in to an existing one. This means that registering an account requires sending a request via the contact form.
This is not standard practice at all and is typical of scammers who attract potential victims by spamming social networks and online forums. Genuine brokers allow easy Demo account registration for new clients.
Trading Instrument Available
Here’s a rundown of the GTS Financial trading assets with some examples:
- Forex pairs – EUR/USD, GBP/JPY, AUD/CHF
- Indices – NASDAQ100, DAX30, S&P500
- Commodities – gold, silver, natural gas
- Shares – Adidas, Microsoft, Netflix
- Crypto – BTC, BNB, ADA
GTS Financial exposes its retail clients to a higher level of danger than usual with its excessive leverage of 1:200. Such amounts tend to cause margin calls with a high frequency, but are attractive, which is why such unlicensed firms provide clients with them. As for spreads, they are not knowable without the broker’s platform being available.
Deposit and Withdrawal Method
The complete lack of information on the website also affects available payment methods and transaction fees. Again, these are aspects for which legitimate brokers provide clear and detailed information.
All regulated and legit brokers will offer you a possibility to activate your account using credit/debit cards, wire transfers and e-wallets.
The Terms and Conditions of Gts Financial do not specify withdrawal conditions and fees. But experience has shown that with this type of scammers you are always in for unpleasant surprises in the form of hidden fees and predatory terms that are designed to block withdrawal requests.
GTS Financial Account Types
The only thing that we managed to find that resembles the trading account types on the GST Financial is the following:
There is no demo account and there is also no mention of how much you need to deposit. So just stay away from this illicit broker.
How Does Offshore Brokers’ Fraudulent Works?
Like many scam brokers, GTS Financial will make an ad where they will state people have made huge amounts of money by investing with them and using their trading software. Once you have your details, that’s when the scheme tactics begin.
The company’s agents will start by sending you emails which then will turn into constant phone calls. When they get you on the line, agents will do anything and everything in their power to get you on board. And of course, the more you invest the more you will make.
Don’t fall for those cheap tricks and always do the needed diligence and research before you invest.
One common tactic that these offshore brokers use in order to seem more legit is to falsely claim to be regulated by one of well-known regulatory bodies, be aware as these are all just lies.
GTS Financial Summary
In this GTS Financial broker review, we tried to warn you about this online trading scam and the many tactics they use to deceive people. They allegedly give their clients the opportunity to invest in forex, CFD and much more but in reality they are just stealing their hard-earned money.
In addition to this, GTS Financial has also been issued a warning by BaFIN which is a German regulatory body. These types of warnings should always be taken seriously and never overlooked as they often indicate that the broker is no more than a cheap scam.
Be sure to always do proper research on the broker you want to work with so you know what you are getting yourself into. Online reviews could also help you get a clearer picture.
In case you had any negative experience with this or any other fraudulent broker, we would greatly appreciate it if you could share it with us as we can assist you by reporting your scammer.
FAQs About GTS Financial Broker
Is GTS Financial Regulated?
No, GTS Financial is not a regulated and licensed broker you can trust, so avoid them at all cost.
Does GTS Financial Offer a Demo Account?
GTS Financial does not offer a demo account for any of their potentially new clients.
What is the Minimum Deposit for GTS Financial?
The minimum deposit for GTS Financial clients is set at $5,000 which is just ridiculously high.