GMOTrading Review – SCAM or Legit Broker? Withdrawal Problems & Complaints?

When it comes to simplicity and user-friendliness, GMOTrading stands out. The platform features simple yet effective tools, education material, and a reliable software, i.e. MT4…

GMOTrading Broker Website Screenshot

GMOTrading is a recently introduced trading platform. You might have not even heard its name before. Only a few of our followers have visited this platform and requested a detailed review. So here we are!

In this review, we’ll go through a brief overview of the company, its legitimacy, GMOTrading scam complaints, and the basic features to help our readers know exactly what they need to know about this broker.

GMOTrading Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: GMOTrading portrays itself as a leading broker however our research indicates that the company hasn’t even been running for as long as a year yet at the time of writing this review, and given the nature of the amount of scams in the binary options industry this is a major red flag in our opinion. The broker is indeed licensed which may seem reassuring but do not forget Banc De Binary (one of the biggest binary options scams in history) was also licensed too so this alone cannot be trusted. We do not personally recommend GMOTrading as we are too wary about their operation – especially since withdrawal complaints have also started surfacing too.

Quick Navigation

We appreciate that you may have just come here looking for some specific information about GMOTrading & as a result you might not want to read our full review so we’ve put together some quick navigation links for you to use below:

GMOTrading Background

Royal Forex Ltd. owns and operates GMOTrading.

  • Address: 2 Prodromou & Demetracopolou, 4th Floor, 1090 Nicosia, Cyprus.
  • Email: support@gmotrading.com , docs@gmotrading.com
  • Phone: +357 2528 1660 (Cyprus) and +44 203 936 4444 (UK)

We are surprised after going to the About Us section of the website. It isn’t specific and doesn’t offer anything that could attract the traders. On the other hand, the overall website content is exceptional.

The support team is professional and the clients don’t have to wait for too long. We think that this platform is arguably the best choice for beginners.

The Demo account allows the beginners to test their skills. Getting used to the tools is fairly easy with GMOTrading. The broker offers exceptional charting options. In addition, the technical indicators are quite handy. The website also serves with trading cubes and visual trends. We’ve never seen such an impressive advanced charting with any other online trading platform. It allows you to customize and save templates. The website also facilitates its users with the Expert Advisors (Auto-Traders).

Till now, GMOTrading has really impressed us. Let’s move on to the most important question, the licensing!

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Is GMOTrading Regulated?

GMOTrading is REGULATED by CySEC. The license # is 269/15.

We were surprised by the license number. The platform was introduced in 2017 but the license was issued in 2015. It seems as if Royal Forex Ltd. had planned long ago and acquired the license even before launching the platform. But it doesn’t make a difference. There are scores of brokers who never care about acquiring a license. Some of these platforms kept lying by spreading fake news about waiting for the approval of the application for the license. Finally, we are reviewing a legitimate broker that is properly regulated by CySEC.

GMOTrading is also registered with AFM (Netherlands), FI (Sweden), FCA (UK), and Finanstilsynet (Denmark and Norway). It means that the broker doesn’t accept the US traders. It also doesn’t entertain the traders outside EU.

This is indeed a transparent broker. They are complying with the legal requirements related to KYC, AML, and Trader Funds. The Terms and Policies are clearly stated on the website. We don’t see anything fraudulent.

GMOTrading Complaints

Some traders are not happy about the lack of crypto trading. In addition, the clients are not happy with the fewer assets and trading options available with the Demo account. The Demo account has to be like this because you can’t offer each and every feature via a Demo account. There has to be something intriguing to attract the clients towards real accounts.

High-pressure tactics are often used by scammers. We are surprised to witness that some clients are bullying GMOTrading for using pressure tactics. The complainers don’t provide reliable proof. There is no email thread and no screenshot. This is why we can’t second their opinion. It could have been the case of paid reviews against the broker.

GMOTrading Withdrawal

GMOTrading withdrawal policy suggests that the platform is perhaps the fastest withdrawal processor. According to the website, the withdrawals are processed on the same day if the withdrawal request is submitted before 9:00 am (GMT+2). Otherwise, the request will be processed on the next working day. The withdrawals are entertained five days a week.

How long does it take to complete the transaction? Well, it depends on your bank. There is a $50 withdrawal fee. There is no minimum withdrawal limit. But you need to be careful because you’ll have to pay additional if you want to withdraw anything less than $100. The fee isn’t mentioned though! But we can conclude that $100 is the minimum withdrawal limit because how will opt for less than $100 withdrawal when there is a fixed $50 fee plus an additional fee that is not even mentioned. The policy is just another way to discourage withdrawal of lesser amounts.

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Is GMOTrading a Scam?

GMOTrading scam complaints are not reliable. We have seen nothing unconvincing. The broker is regulated by CySEC and is registered with many other regulatory authorities as well. We could not find any public warning against GMOTrading. Nobody has come up with a reliable complaint. The company is also transparent. Finally, we’ve something to cheer about. It feels so good to review a transparent and legitimate broker. We want to thank our followers who requested for a third-party review on GMOTrading.

Our Verdict on GMOTrading

Thumbs Down

MT4 (Desktop and Mobile), CySEC license, transparency, registration with EU regulatory authorities, and a clean track record encourages us to recommend GMOTrading. If you are tired of unregulated and off-shore trading platforms then you need to consider GMOTrading, one of the most promising trading opportunity we have ever reviewed.

Scammed By GMOTrading? Get Your Money Back!

Since initially publishing this GMOTrading review we have actually come across some scam complaints regarding this broker. We don’t know how true they are – they could potentially be written by competition, but given the nature of the binary options industry & the many scams that exist we take all complaints we see very seriously.

Anyway, if you have come across this review & you have already traded with GMOTrading & you feel you have been scammed by them then whilst that is obviously far from an ideal situation, the good news is that you’ve landed in the right place because we’ve put together a free money reclaim guide which can help you get your money back.

To date our guide has helped thousands of people to successfully get their money back from binary options scams & therefore if you have lost money to GMOTrading then we are confident it can help you too.

You can get access to the guide for free by clicking here now.

A Better Legitimate Way To Make Money Online

If you haven’t yet begun trading with GMOTrading then to be honest you should know that here at Stopping Scammers we don’t really recommend trading – especially not binary options trading & that’s because there’s far too much risk involved.

But the real reason we don’t recommend it is because we know there are so many better, legitimate & risk-free ways to make money online. There is simply no need to risk funds with trading.

Whilst carrying out our investigations we have actually come across many legitimate opportunities to make money online but there has been 1 in particular which has stood out from all of the rest. As a result we have named it our number 1 opportunity for working from home.

If you’d like to get access to it then you can do so by clicking the link below now:

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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