GTS Financial Review
Is GTS Financial a scam or legit broker? Read GTS Financial Review
GTS Financial is an unauthorized broker. The most interesting thing about GTS Financial is that it says it is based in the United States, is governed by US law, and serves clients in the European Union. Due to the way regulations are set up in the US, brokers who are licensed there can only do business on American markets, so this is not possible. Of course, the broker has no regulatory authority’s approval for a license.
The website of this broker is https://gtsfinancial.net/, which utter lack of data has an impact on both the payment options and transaction costs. Once more, reputable brokers give clear and thorough information on these areas.
A wide range of open payment options, including credit/debit cards, bank transfers, and well-known e-wallets are frequently made available to customers by trustworthy brokers. Because cryptocurrency transactions are not liable to returns, scammers typically prefer them.
The Federal Financial Supervisory Authority (BaFin) in Germany also says that this broker is providing financial services in a way that is against the law. According to BaFin, “GTS Financial LLC contacts German investors and recommends specific shares. The company also operates a trading platform with the following domain: gtsfinancial.net. In accordance with Section 37(4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make it clear that GTS Financial LLC, USA, has not been granted authorization under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin. The company mentions two business addresses in the USA on its website. The website also refers to additional alleged business addresses in Denmark and Belgium. In addition, the company claims on its website that it is regulated by the U.S. Securities and Exchange Commission, but this cannot be verified.“
Possible scam activities of GTS Financial
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this GTS Financial review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative GTS Financial Reviews and Complaints
GTS Financial has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative GTS Financial Review
After Searching internet you will find many negative GTS Financial Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and GTS Financial reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by GTS Financial? How to get your lost money back from GTS Financial?
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GTS Financial Review: Conclusion
To begin with, GTS Financial is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging GTS Financial as a possible scam in this GTS Financial Review. Are you planning to trade with GTS Financial and invest your money? Report Scam suggests you to read this GTS Financial Review first.