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GSL Markets Review – Learn More About Scam

GSL Markets Review

GSL Markets broker has some good marketing right there. The company advertises raw spreads, personal mentors, super-fast execution, and 24/7 support. Sadly, it’s not everything so shiny in reality.

This in-depth GSL Markets broker review will highlight the main issues of trading with this unregulated firm, including lack of license, mismatch of information regarding legal jurisdiction, and more.

But firstly, we want to invite you to read TrustGatesGainMetaFX and Finex Trader scam broker reviews. Your funds are in danger with them!

Broker Status:Unregulated Scam Broker
Broker Regulation:Unlicensed Forex Provider / No Regulation
Scammers (site is active, verified 09/26/2022)
Operating Status:Active Forex Trading Scam
Blacklisted as a Scam by:N/A
Broker Owner:Fizaliya EOOD
Headquarters Country:Bulgaria
Foundation Year:2022
Trading Platforms:MetaTrader 5 (MT5)
Mobile Trading:Available via MT5 App
Minimum Deposit:250 USD
Deposit Bonus:100% bonus
Crypto Trading:Available – BTC, XRP, ETH
CFD Trading:Yes, you can trade CFDs
Trading Instruments:Forex / Commodities / Indices / Shares / Cryptocurrencies (Cryptos)
Maximum Leverage:1:500
Islamic Account:Not Available
Demo Account:No, only live trading accounts
Accepts US Clients:US traders are accepted
Global Fraud Protection Team:Don’t Invest in This Scam Broker!

Is GSL Markets a Scam Broker Without Regulation?

GSL Markets Forex brand belongs to Fizaliya EOOD, a company registered in Bulgaria. As an EU country, Bulgaria supervises financial firms through its regulator, FSC.

Upon checking this register, we found nothing about GSL Markets regulation, and it was just the first of many red flags.

The Terms and Conditions suggest that the governing law is the law of Hungary, and all the issues are to be resolved in front of Hungarian courts. As another EU member, Hungary has strict control over Forex and CFD trading providers through its authority body, HFSA.

Just in case, we went through databases of other Tier1 license providers, including FCA, ASIC, BaFin, and CONSOB. As you can guess, the broker GSL Markets is nowhere to be found.

Finally, the Bonus Policy says that the company is located in Saint Vincent and the Grenadines, the only country without Forex supervision, which explains a lot.

GSL Markets is an unauthorized financial services provider. The firm operates from Bulgaria but has not been licensed by the FSC or any Tier1 authority body.

In addition to the above, If you have already deposited your money with a Supreme CapitalTrustGarden or IB Finanzas scam brokers, we can assist you.

Where Do GSL Markets Scam Victims Live?

GSL Markets trading scam has been active since May 2022. Based on complaints, the firm is mainly operating in:

  • Austria
  • Australia
  • Switzerland
  • Norway
  • US
  • Ireland

GSL Markets MT5 Trading Platform

Another red flag was noticed upon opening the broker trading platform. The company provides MT5, which, per se, is fantastic. MetaTrader has been voted the best software in the industry, and MT5 is the latest version, with the largest number of trading features.

However, the platform belongs to the already notorious Stockton Ltd. It’s another Bulgarian-based boiler room renting MT5 to numerous fraudulent firms.

Your funds and trades are practically exposed to a third party, which is never recommended. It reduces fund safety and increases the chances of being defrauded.

Mobile Trading App – iOS and Android Trading

Each MT5 comes with a dedicated mobile app for Android and iOS devices. Therefore, login is enabled through the app with the same features as the desktop version.

Again, we realize that this MT5 belongs not to GSL Markets but to another firm. 

CFD Trading

The broker enables CFD trading on its MetaTrader5. Clients can access various assets, including CFDs on stocks, commodities, indices, and cryptocurrencies. 

The leverage on all assets is fixed to 1:500, while EU regulators allow only 1:30 for retail traders. It’s just another proof that GSL Markets cannot be regulated.

What Can I Trade With a Broker? – Trading Instruments

As mentioned, customers can trade on various CFDs and the Forex market. You can choose one of the following tradable assets:

  • Currency Pairs (Forex) – EUR/USD, AUD/CHF, GBP/JPY
  • Commodities – Gold, Oil and Natural Gas
  • Indices – Dow Jones, S&P 500, NASDAQ
  • Shares – Alphabet, Meta, BOA
  • Cryptocurrencies (Cryptos) – TRX, DOT, BNB

Fees and Spreads

The spread is advertised as 0.1 pip for EUR/USD pair, which itself is terrific. On the other hand, there are no further commissions.

Note that legit firms profit from spreads, swaps, and other fees. If a broker charges close to none, it’s clear that their utmost goal is vanishing with your entire deposit.

GSL Markets Trading Accounts

GSL Markets Trading Accounts

There are 5 trading account types, including the following:

  • Bronze Trading Account – Minimum deposit $10,000, platform introduction, risk management strategies
  • Silver – $20,000, basic market education, personalized alerts
  • Gold – $50,000, risk-free trades, guided trading sessions
  • Premium – $100,000, VIP trading signals, managed account services
  • Platinum – $250,000, exclusive access to WhatsApp group, higher leverage

Each account requires more funds and brings alleged perks.

Is GSL Markets Demo Account Available?

GSL Markets Demo account is not enabled. You can overview the platform upon registering an account, but you’ll have to invest before being able to place any trades.

While brokers’ minimum deposit stands at $250 and cannot be considered too high, the firm is unregulated. It should be enough to dissuade you from depositing by all means.

How Do I Withdraw Money From GSL Markets?

According to GSL Markets Withdrawal Policy, customers can use the following methods:

  • Visa
  • MasterCard
  • Maestro
  • Wire transfer

Withdrawal fees are set to 5% for credit/debit cards and 10 units for SEPA bank transfers or 25 units for other banks.

Allegedly, the withdrawal time is 4-7 business days. According to GSL Markets reviews, most customers were never refunded.

Is GSL Markets Deposit Bonus Available?

GSL Markets Deposit Bonus

GSL Markets bonus is available to each customer that opens and funds their account. However, according to policy, clients cannot withdraw their funds before reaching a rollover of 1 lot, equal to $100,000.

Suppose you get $250; you must trade 400 times more. And that’s a scheme you don’t want to be dragged into.

Were You a Victim of the GSL Markets Scam? – Try to Get a Refund

If you have been a victim of the GSL Markets scam, you can get in touch with Global Fraud Protection and our chargeback experts.

While losing funds to online fraud can be a devastating experience, you’re not alone. We’re here to help you file a dispute and recover what’s rightfully yours.

Get in touch immediately, and let’s start the procedure before it’s too late!

All In All, Don’t Let the Scammers Get Away for Free!

FAQ Section:

What Is GSL Markets, and Should I Invest Money In It?

GSL Markets is an online brokerage without trading license. Since the company operates illegally, there’s a high chance of finding yourself unable to withdraw money. If this is the case, contact us so we may assist you with the refund.

Does GSL Markets Offer a Demo Account?

GSL Markets doesn’t offer a Demo account but only a platform overview upon registration.

Does GSL Markets Give a Deposit Bonus?

Yeah, company gives a one-time bonus of 100% with a limitation on your withdrawals.

Can I Trade Crypto and CFDs With GSL Markets Broker?

You can trade in both crypto and other CFDs, but we recommend you stay away from the GSL Markets scam.