Score
GANAR MARKETS
United Kingdom|2-5 years| https://ganarmarkets.com/
Website
Rating Index
Contact
Licenses
Licensed Institution：GANAR MARKETS PTY LTD
License No.：001288656
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United KingdomAccount Information
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Website
ganarmarkets.com
Server Location
Singapore
Website Domain Name
ganarmarkets.com
Server IP
43.229.86.103
Company Summary
Note:GANAR Markets's official website:https://nz.sp-investment.com/ is currently inaccessible normally.
GANAR Markets Information
Founded in 2023 and with headquarters in the United Kingdom, GANAR Markets runs under a previously repealed ASIC regulation,but now is revoked. With leverage up to 1:500 for Forex, the site has three account types: Standard, Zero, and Pro; indices and commodities have 1:100. For Standard accounts, spread is one pip; for Pro accounts, two pip. Among the several market tools available from GANAR Markets are Forex, commodities, indices, stock CFDs, metals, and cryptocurrencies. Customer service may be found email at support@ganarmarkets.com and phone at +61 272019.
Is GANAR Markets Legit or a Scam？
Previously,Commonwealth of Australia Regulatory Authority (ASIC) wasin charge of GANAR Markets under an Appointed Representative (AR) license.
Under license number 001288, Australia licensed GANAR MARKETS Pty LTD, therefore underlining corporate control. Originally active on June 4, 2021, the license was revoked August 20, 2021.
GANAR Markets is unregulated now.
 | Australia Securities & Investment Commission(ASIC) |
| Current Status | Revoked |
| Regulated by | ASIC |
| License Type | Appointed Representative(AR) |
| License No. | 001288656 |
| Licensed Institution | GANAR MARKETS PTY LTD |
Downsides of GANAR Markets
GANAR Markets is unregulated, therefore depriving the business of any reasonable regulatory control and so increasing investment risk.
Several reports of forced liquidation, account manipulation, and reluctance to execute withdrawals point to a great possible risk related to the platform.
The website of the company presents insufficient information on deposit and withdrawal policies, which raises doubts on the dependability and transparency of their financial operations.
Market Instruments
GANAR Markets offers among the numerous market instruments Forex, commodities, indices, stock CFDs, metals, and cryptocurrencies. This range allows traders to engage in numerous financial markets, thereby providing opportunities for portfolio diversification and maybe returns across several asset classes.
Account Types
GANAR Markets offers three account types for varying trading requirements and degree of expertise.
The Standard Account should be used by beginners and those looking for basic trading experience. For Forex it has a 1 pip minimum spread and leverage up to 1:500; for indices and commodities it has a 1 pip minimum spread. This explanation simplifies trading.
The Zero Account is for traders looking for lower fees and closer spreads. Zero spreads allow more exact trading and larger earnings. 1:500 Forex leverage and 1:100 indices and commodities leverage still apply from this account.
The Pro Account's 2-pip minimum spread appeals to seasoned traders. Advanced traders are ready to pay a bigger spread for improved market execution and additional features should choose this account type.
Negative GANAR Markets Reviews on WikiFX
An essential comment part in WikiFX is exposure.
Before trading on unofficial platforms, we recommend users to check this part.It shows material and evaluate dangers. Please kindly visit our website for details.
It has 7 exposures on WikiFX. I will introduce 2 of them.
Exposure.1 Scammer behavior
| Classification | Scammer behavior |
| Date | September 7th,2021 |
| Post Country | Philippines |
The client said they were shocked to see scammers locked and deleted their accounts after receiving threatening texts; others going through similar circumstances have confirmed this approach is true.You are able to go:
https://www.wikifx.com/en/comments/detail/202109076872879574.html
Exposure.2 Fraudulent activity
| Classification | Fraudulent activity |
| Date | September 4th,2021 |
| Post Country | Hong Kong,China |
The customer claimed the Li Chengang group guided consumers to make deposits, resulting in significant losses and stopping withdrawals.You can go:
https://www.wikifx.com/en/comments/detail/202109076872879574.html
Conclusion
Finally, GANAR Markets' canceled ASIC regulation, great potential risk, and many client complaints about dishonest behavior and withdrawal problems make trading there dangerous. To guarantee a safer and more secure trading experience, users are highly urged to select controlled brokers with open and publicly available information.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- Australia Appointed Representative(AR) Revoked
- High potential risk
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FX2046354843
Philippines
I was initially flabbergasted. But now that many others have shared the same story as mine, I can say for certain that this is the new script of these scammers. They even locked and deleted their accounts upon receiving confronting texts from their ‘prey’," M.Y. said.
Exposure
2021-09-07
FX3042614573
Hong Kong
The scammer Li Chengang cheated users and disappeared.
Exposure
2021-09-05
FX4156941913
Hong Kong
The group of Li Chengang led users to deposit and liquidated the account, which caused large losses. They blocked me from the group. Unable to withdraw.
Exposure
2021-09-04
FX4156941913
Hong Kong
Forced liquidation due to the operation of the platform, which caused a great loss of 2,600,000.
Exposure
2021-09-04
FX2045146332
Australia
It promised 160% profits but actually it rejected withdrawals.
Exposure
2021-09-03
FX2954858672
Hong Kong
I joined their group through the stock exchange group.They said (and another two "teachers") they wanted to earn money with stock friends and won votes from stock friends to compete for the right to trade in the 1.5 billion fund. At the beginning, they shared stock knowledge and several stocks in the group, and I was able to make a few points occasionally. After half a month, they played a trick to make everyone realize that stocks were too slow to make money, so they moved to the Bitcoin leveraged contract market. Through their internal links, after entering the internal, they have been asking everyone to rush all the funds in it, and they also said with all their heart that they promised to make profits 10 times more than before. On the first three days, I got a normal profit. But withdrawal was evaded by various reasons,including system problems, operation problems, back office not working, and no customer service. On the fourth day, it was said that the live broadcast could only take everyone to make one order, and there was a big market, so we had to set up a special team to do it offline. Moreover, it was stipulated that the requirements for members of the four major special forces were: 10 million funds in the first stage and 6 million funds in the second stage. . . If you didn’t have enough funds, you need to recharge (a large number of people are induced to recharge). However, on the sixth day, the backstage operation suddenly fluctuated by 7000, and the funds of stockholders were all liquidated. As a result, they comforted everyone, and then lured you to inject funds, and the teacher subsidized you as much as five times money (induced recharge again). Then on the eighth day, after all the stockholders had recharged, the backstage operation floated 26,000 again, and everyone was liquidated. Now They ask all stock friends to find a way to recharge again. . . . . It's utterly unconscious! This is the broker they sent https://www.ganarmarkets.com
Exposure
2021-09-02
FX3762915768
Hong Kong
Fraud platform. Unable to withdraw.
Exposure
2021-09-01