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Score

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The WikiFX Score of this broker is reduced because of too many complaints!

GTMX

Saint Vincent and the Grenadines|1-2 years|
Suspicious Regulatory License|MT5 Full License|Global Business|High potential risk|

https://gtmx.com

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

8
Server Name
GTMX-Demo MT5
Server Location United Kingdom

Contact

+66 22547228
support@gtmx.com
https://gtmx.com
Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent And The Grenadines.
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Warning: Low score, please stay away!
2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
2

Basic information

Registered region
Saint Vincent and the Grenadines
Operating period
1-2 years
Company Name
Grow Trade Matrix Limited
Abbreviation
GTMX
Company employee
--
Customer Service Email Address
support@gtmx.com
Contact number
006622547228
Company website
Company address
Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent And The Grenadines.
Keywords 5
1-2 years
Suspicious Regulatory License
MT5 Full License
Global Business
High potential risk

FX3651395261

Vietnam

This platform is a scam, everyone. You can deposit money, but you cannot withdraw it. They deceive investors from experts to salespeople and the platform itself. Stay away, everyone.

Exposure

11-05

FX1276769427

Vietnam

I have ID number 999370 at GTMX exchange, under Keily's exchange group; I have been participating for 1 month but only trading stocks. After 1 month of participation, I want to extend the bonus, but the support staff told me that my trading volume is not enough. I have to follow the orders given by the support staff to be eligible for the bonus extension. The support staff's name is Hoàng Linh on Telegram. On October 2, 2024, the support staff instructed me to place an order for Ita40; buy 1.0; but I couldn't place the order; then they told me to place an order for COTTON buy 1.0. I asked about stocks. They said "Yes"; and told me to buy 1 stock to meet the requirements for bonus extension. I placed the order and lost $8150. I tried contacting the support staff but couldn't reach them. When I asked the team leader, they didn't respond, and the deputy team leader told me to contact the support staff again, but they also disappeared. I tried contacting the hotline and the exchange's email, but couldn't reach anyone.

Exposure

10-29

FX1276769427

Vietnam

I have been participating in GTMX exchange for 4 months, under the support of Mr. Chí Thành. However, in the past month, I have been unable to contact both the support team and the staff of the exchange. It happened on October 27, 2024. My account was logged out of MT5. I am stuck with GSHI stock orders, unable to close the positions and withdraw the funds. I sincerely hope that the esteemed Exchange can assist me in closing the stock orders and withdrawing all the funds. Thank you very much.

Exposure

10-28

FX4158600022

Vietnam

The ib team of this exchange is extremely deceitful, engaging in unethical business practices and deceiving many investors, causing them to lose their accounts. They profit from the blood and sweat of investors. They need to be removed from society immediately, as they will face consequences sooner or later. Many investors have fallen into financial ruin. Everyone should stay away from the GTMX exchange.

Exposure

10-26

FX1337931398

Verified

Vietnam

Deducting money without knowing the reason, Adjusting overnight fees without notifying customers, It takes 2-5 days to approve withdrawals (and once approved, the money is gone). The first time I participated in the stock exchange, I encountered this platform. I couldn't withdraw money even though there was a lot of money in my account. Then my account was deducted $195 without knowing the reason. When I asked for advice, they didn't respond. And the salesperson lost contact on Zalo (the account was deactivated). After that, I was able to withdraw $250. The next day, I lost over $2000. I warn everyone not to participate in this platform. I stubbornly let my emotions be manipulated and jumped in. In the end, I lost $2120 of capital.

Exposure

10-25

Grateful

Vietnam

I made a withdrawal order of $200 from September 19th to September 21st and received the money. Then I made a withdrawal order of $400 from October 8th to October 10th and received the money. After that, I made a withdrawal order of $8400, but I didn't receive it for a week. I reported to the support person named Tuấn Anh on Zalo, and he said that I had to buy 3 stocks, 1 lot each, and wait for 5 minutes to activate in order to withdraw all the money. I said that I would withdraw $5000 and wait for the money to come in before buying those 3 stocks. Tuấn Anh said that I couldn't withdraw $5000. I said it was illogical because if I couldn't withdraw, then I wouldn't have been able to withdraw from the beginning. They intentionally told me to buy expensive stocks to burn my account. I didn't follow because I found it unreasonable. I hope WK can help me report the platform so that I and many others can receive the money back.

Exposure

10-25

FX4158600022

Vietnam

The IB team burns investors' accounts! Fraudulent, unable to withdraw money!

Exposure

10-20

FX1553953454

Taiwan

Only deposits are accepted, no withdrawals allowed, everyone stay away from scams

Exposure

09-13

HT4824

Vietnam

The team of Tran Anh, Bao Ngoc, Quang Huy specializes in luring prey into the Zalo group, adding expert instructions, matching orders from GTMX exchange, creating negative account balances and matching orders. They pressure customers to deposit money to cancel orders, otherwise their accounts will be burned. If customers do not follow the expert's instructions, the exchange intentionally adjusts prices up to 3.4 times, adjusts overnight fees, and I enter an order of 0.8 to be deducted $1600 over 3 nights. They deceive customers into buying stocks to receive dividends, but the exchange does not pay on the dividend payment date. They manipulate accounts to burn them, then use the excuse of strong market news to inflate ridiculous fees. Meanwhile, throughout the month, there are still very few overnight fees for regular transactions. They only stop adjusting the overnight fees up to 3.4 times when the account is burned. Everyone should be careful not to deposit money, as the account will be burned and there will be no way to withdraw any money. If someone no longer has money to deposit, they will be forced to burn their account. I hope everyone will join hands to report these scammers at GTMX exchange. I have lost all my money because of them.

Exposure

09-11

FX3076593896

Vietnam

Embezzlement of assets. Unable to withdraw money. From sales to technical, all are deceptive.

Exposure

09-02

FX3987148612

Vietnam

Unable to withdraw deposits, I lost 15,500 USD on this platform. The staff manipulated orders and caused investors' accounts to burn out. The employee named Tony claimed to be an expert and gave orders, then manipulated the orders, causing the account to be at risk of burning out and enticing additional deposits, leading me to incur debts outside of society. Now my family is deeply in debt and has fallen apart.

Exposure

08-22

DJ7249

Vietnam

I have just started learning about TT but I got involved with this GTMX platform and all kinds of ridiculous reasons. They cleverly manipulate the time to make the account balance almost negative, sometimes even exceeding the balance. They manipulate the negative margin to play with the investors' psychology, forcing them to deposit more to close the positions. After more than a month of trading, I haven't received any stop-loss orders from the so-called experts, I had to cut the positions myself. When the capital and margin balance have a surplus of a few thousand units, I tried to withdraw 500 units each time, but I had to wait for 4-5 days and still couldn't withdraw. When asked about it, they gave me countless ridiculous reasons. When I deposited more to close the positions, they placed random orders to prevent me from having enough funds to withdraw. If I place a large order to close the positions, they immediately issue a warning as if they are afraid that I will be able to close them, but if my account burns, I have to bear the loss myself. And that so-called platform manager, he talks to investors as if he is their father, giving recommendations and then saying "do you understand?" in a fatherly tone. When I turn on the platform, he turns it off immediately. From the platform manager to the so-called experts, they all have the same voice, pay attention and you will discover it. I wish all traders to always be vigilant in this increasingly sophisticated market full of scams. ❤️‍🔥

Exposure

07-14

duy5046

Vietnam

Can't withdraw money, empty orders, can't withdraw many times, can't withdraw the first time but can't do it the next time, forced to trade more crap orders so the customer burns their account and can't withdraw anymore. Anyone who does not comply will not be allowed to withdraw money

Exposure

06-28

FX7640177952

Vietnam

Ok, standard orders, signals from this side are well supported

Positive

09-27

Raphaël Hu

Spain

I used to be skeptical about trading signals, but GTMX's have been surprisingly accurate! Besides, their order execution is lightning fast, and my trades go through exactly at the price I request.

Positive

07-10

15
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Official website

Website

  • gtmx.com

    Server Location

    United States

    Website Domain Name

    gtmx.com

    Server IP

    172.67.220.89

Company Summary

Broker Name GTMX
Founded in 2023
Registered in Saint Vincent and the Grenadines
Regulated by Not regulated
Market Instrumentsforex, cryptocurrencies, shares, commodities, indices
Account TypesStandard, Islamic, ECN, and Pro
Minimum Deposit$100
Maximum Leverage1:500
SpreadsFrom 0.1
CommissionAccount-based
Trading Platform MetaTrader 5 Desktop/PC/Mobile
Customer Support support@gtmx.com; +6622547228

Overview of GTMX

GTMX, registered in Saint Vincent and the Grenadines, offers a wide range of market instruments including forex, cryptocurrencies, shares, commodities, and indices. The brokerage provides multiple account types such as Standard, Islamic, ECN, and Pro, catering to diverse trading preferences. Utilizing the MetaTrader 5 platform across desktop, PC, and mobile devices, GTMX ensures robust trading capabilities with features like advanced charting and automated trading options. Spreads start from 0.1, with commissions structured based on account types.

Overview of GTMX

Regulation

GTMX appears to operate without regulatory oversight, as there is no information indicating any regulatory authority overseeing its activities.

Regulation

Pros & Cons

Pros Cons
• Various trading instruments to trade• Operates without regulatory oversight, potentially exposing traders to risks
• Offers multiple account types• Lack of educational resources
• Utilizes the popular MetaTrader 5 platform
• Provides flexibility with spreads

Market Instruments

GTMX offers a variety of financial instruments for trading including forex, cryptocurrencies, shares, commodities, indices, and social trading. This suggests GTMX might be a suitable platform for investors interested in diversifying their portfolios across multiple asset classes.

Market Instruments

Account Types

GTMX offers four account types: Standard, Islamic, ECN, and Pro.

  • Standard: This appears to be the most basic account type, designed for new traders with a minimum deposit of $100. It offers spreads from 1.5 pips and no commission fees.
  • Islamic: This account type is suited for Islamic residents who adhere to Sharia law, prohibiting overnight fees. It has the same features as the Standard account but without swap charges.
  • ECN (Electronic Communication Network): This account is designed for experienced traders who prefer tighter spreads and lower commissions. It has a minimum deposit of $2,000 and offers spreads from 0.6 pips with a commission of $10 per trade.
  • Pro: This account type is designed for professional traders with a minimum deposit of $5,000. It offers the tightest spreads from 0.1 pips and a commission fee of $6 per trade.
Account Types

How to open an account

  1. Sign Up: Provide your basic information likely including your email address, and phone number, and create a password.
  2. Verification: The platform may require Know Your Customer (KYC) verification to ensure a safe trading environment. This typically involves submitting government-issued identification documents and potentially proof of address.
How to open an account

Leverage

GTMX offers traders a significant advantage, particularly when it comes to leveraging their positions. Leverage is a powerful tool in the Forex market, allowing traders to control a large position with a relatively small amount of capital. GTMx stands out by offering Forex Leverage for all account types of up to 1:500.

Leverage

Deposit & Withdrawal

  • Deposit

GTMX ensures secure deposits through trusted payment providers via a dedicated client portal. Clients must deposit funds from an account bearing the same name as their trading account. To deposit, access the Client Portal, select the trading account, and choose a deposit method. Complete all required fields as instructed for seamless transactions.

Deposit & Withdrawal
  • Withdrawal

GTMX ensures a simple, secure withdrawal process using advanced technology for transparency and efficiency. Withdrawals are processed promptly, with same-day options available for credit cards and Visa debit cards to enhance user convenience. Like deposits, withdrawals require funds from an account bearing the same name as the trading account. Access your Client Portal, select the trading account, and choose the withdrawal option.

Withdrawal

Trading Platform

GTMX offers a versatile trading platform based on MetaTrader 5, available for desktop, PC, and mobile devices. MetaTrader 5 is renowned for its advanced trading features, including charting tools, technical analysis capabilities, and automated trading options through Expert Advisors (EAs). This platform supports a wide range of financial instruments, providing traders with flexibility and accessibility across different devices.

Trading Platform

Customer Support

GTMX's Customer Support is accessible primarily through email at support@gtmx.comand via phone at +6622547228. While specific details on service responsiveness and support channels are not detailed, clients can expect assistance through these communication channels.

Customer Support

Conclusion

GTMX offers a diverse range of instruments and the popular MetaTrader 5 platform, potentially appealing to both new and experienced traders. However, the lack of regulation is risky. Carefully consider the risks before using an unregulated broker and prioritize platforms with established regulations for investor protection.

FAQs

Is GTMX regulated?

No, GTMX is not regulated, which means it operates outside of established financial safeguards.

What are GTMX's deposit and withdrawal methods?

Currently, GTMX only uses crypto wallets for deposits and withdrawals.

What platform does GTMX use?

GTMX utilizes the MetaTrader 5 platform, accessible on desktops, PCs, and mobile devices.

Risk Warning

Trading online carries inherent risks, including the potential loss of your entire investment.

Keywords

  • 1-2 years
  • Suspicious Regulatory License
  • MT5 Full License
  • Global Business
  • High potential risk

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