Xenom Group LTD is an offshore company registered in the Comoros Islands, a favorite location for dishonest and dubious brokers. In this GMZ Global review, we will closely examine the CFD platform: review its terms, check its legitimacy, and identify potential signs of fraud. If you’re interested in these details, join us.
Brief Overview
- 🖥Official Website: https://gmzglobal.com/
- ✈️Contact Address: Hamchako, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros
- 📞Customer Support: [email protected], [email protected], +447441937733
- 🔐Licensing and Accreditation: No
- ⏳Track Record: 2024
- 🧰Specialization: Brokerage service
- 🤝Terms of Cooperation: $250, 1:400
- 💰Additional Services: Daily market updates, account manager
Gmzglobal.com Examination
The official website is the most important tool for any brokerage company. Clients should be able to access complete information: key data about the broker’s operations and trading conditions. However, some important details about GMZ Global are missing from the site, such as the company’s operating period. The trading conditions are also not fully presented, and even the English version of the site contains sections that are not translated.
The site supports several languages besides English: German, Hindi, Japanese, Korean, Portuguese, and Spanish. However, support for the Japanese is puzzling, considering that GMZ Global cannot legally operate in Japan. Similar to the United States, CFD brokers are prohibited there.
Summing up our brief review of gmzglobal.com, it can be said that the website leaves much to be desired: errors and incomplete information make the company appear non-transparent and raise doubts about its seriousness.
Company Contacts
You can contact the staff through one of two email addresses or by phone. The phone number with a +44 code indicates the UK, although GMZ Global is registered in the Comoros Islands. There is also an online chat, which requires you to provide your name and email. Operator responses are often delayed, and sometimes there is no response at all. The only listed office is located in the city of Mutsamudu. A check of the contact details revealed nothing, and we will verify the addresses and licenses later.
Key Conditions
The next part of our GMZ Global review will focus on analyzing the trading conditions, where suspicious aspects are immediately noticeable. First, trading here is hardly advantageous. The minimum deposit is quite high — $250, and the withdrawal fee is 3.5%. However, nothing is mentioned about trading commissions. Even the spreads are not indicated. Essentially, without practical experience, it’s impossible to determine whether the trading conditions are favorable. A demo account is supposedly offered, but the process of opening one is unclear — there’s no such option in the personal account. Access to it may be only granted through a manager, which is itself questionable.
Secondly, excessive leverage ranging from 1:100 to 1:400 clearly contradicts the requirements of serious regulators. Let us remind you that financial commissions prohibit brokers from offering retail traders leverage higher than 1:30. Therefore, the likelihood of a serious license is extremely low.
Thirdly, the functionality of the trading platform leaves much to be desired. It is only available in a web version — it cannot be installed on a smartphone or computer. Moreover, the platform’s capabilities are limited to basic trend lines, Fibonacci levels, and standard indicators.
In addition, traders are only given access to CFDs. There is no spot trading or futures available. As is well known, CFDs are often used by dishonest brokers to manipulate prices, which leads to client losses. If you think GMZ Global isn’t interested in doing this, we must quickly correct that notion. The broker uses a dealing desk model, which implies a conflict of interest: the platform profits when traders lose money, as otherwise, it wouldn’t earn anything.
In conclusion, GMZ Global cannot boast of either favorable or convenient trading conditions. Clients are required to deposit at least $250, while commissions and spreads remain unknown. All of this looks like a random set of conditions. The platform is not suitable for full-fledged trading, and the 1:400 leverage carries significant risks.
Exposing GMZ Global
After studying the trading conditions, we concluded that the broker is unlikely to have licenses from serious regulators. Now, let’s check this in more detail. We will also see how long the platform has been operating and whether it is officially registered.
Let’s start with the operating period, which can be easily checked by looking at the domain registration date. After all, no online broker can offer its services without a website. The personal account and web platform are hosted on the site. The domain name gmzglobal.com was registered only in May 2024, meaning just a few months have passed — this is an extremely short period. GMZ Global simply could not have built a reputation as a reliable broker in such a short time.
The platform is managed by Xenom Group LTD. This legal entity claims to have a license from the Anjouan Offshore Finance Authority (AOFA). To be honest, this is the first time we’ve heard of this regulator, although it has existed since 2001. We checked the AOFA register and indeed found Xenom Group LTD — it was registered on June 10, 2024.
However, this does not mean that the broker can be trusted with your money. Anyone can register in Anjouan. The cost of a remote office is 2,500 euros per year, and a nominal director will cost 1,500 euros. This regulator issues licenses to any company without a real check of their operations. The main business in Anjouan is selling licenses. Therefore, trusting such “financial control” makes no sense. Essentially, GMZ Global does not have a serious license, and the AOFA regulator is more of a red flag than a guarantee of reliability.
This is far from the only concerning issue. In the “FAQ” section, the question “Where is GMZ Global located?” is answered with the claim that its headquarters are in London, UK and that it has 7 offices and many partners worldwide. In that case, let’s verify this statement.
To legally operate in the UK, a broker must obtain a license from the FCA, one of the strictest and most incorruptible regulators. Unsurprisingly, a search in the FCA register yielded no results — GMZ Global is not registered in the UK and has no offices there. This is just another lie used by scammers to appear credible and trustworthy.
What Reviews Do Users Leave?
Considering that the company is very young and has only been around for a few months, there are practically no reviews online. Nevertheless, the broker somehow managed to get an average rating of over 4 stars, which raises serious doubts. We examined the positive GMZ Global reviews — they are literally identical texts, slightly modified to give the appearance of uniqueness. All of them have 2-3 sentences about CFDs, the platform, and how everything is wonderful and profitable here. It’s obvious that these reviews are fake, which is yet another reason to avoid dealing with this firm.
Conclusions
The broker bought the cheapest license in an offshore jurisdiction and publishes fake positive reviews because it simply doesn’t have the funds for legitimate advertising. What else is there to add? GMZ Global is a classic example of a company that is extremely dangerous to do business with. You risk losing your money, and the so-called “serious” financial commission AOFA won’t take any action to help you.
Pros/Cons
- The company is officially registered in Anjouan.
- The website is translated into several languages.
- No serious regulation.
- Very short operating period.
- The broker posts fake reviews.
- Huge risk of losing money.
- No guarantees of reliability.
Don’t even think about investing here! I foolishly trusted the scammers at their word. I genuinely believed that their license from an unknown offshore regulator meant reliability and safety. But how wrong I was! I realized I had made a serious mistake when I wanted to withdraw part of my money, and the broker didn’t even confirm the request. For over a month now, my request to withdraw $800 has been pending with no action. The scammers don’t care that I want to get MY MONEY. They’ve taken it for themselves, and in my account, it’s just numbers, not real dollars. These vile fraudsters are scamming people out of their money. Honestly, I’ve already come to terms with it. But I’m sharing my story to help protect other traders’ deposits from GMZ Global.