GCMFX.com Review

Gcmfx declared itself bankrupt (see the text on their website:

Dear Customers,
Gallant Capital Markets, herein referred to as “the Company”, announced on Friday, April 14th, it has commenced a formal proceeding to restructure its balance sheet to better position itself for future opportunities. To facilitate this restructuring, the company filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in the Eastern District of New York. While the company regrets having to take such actions, it does so in the best interests of the company and its clientele. The decision to voluntarily file results from an inability to withdraw funds from one of its regulated counterparties in order to meet liquidity demands. The decision to file was not an easy one, and was done only after a comprehensive review of all options available to the company. The firm has notified its regulatory body and will do all it can to provide information in a timely and transparent fashion to its client base as the court allows. We thank you for your continued patience and hope for a quick and satisfactory resolution for our clients and vendors.


Sincerely,

Gallant Capital Markets )

For a "regulated" broker (BVI regulation) who told to keep the money in a segregated account, the explanations seem curious. You can read the site leaprate.com who reveals the suspicion of frau again the owner of GCMFX.

Obviously, I've tried to contact Gallant by mail or by phone but there's nobody to answer my questions.

Trying to close the account since more than 10 days. No contact possible through telephone, e-mail or chat.
They're simply ignoring my account closure application.

I deposited £14000 and received £14000 matching bonus last month, I am very happy with Gallant.

I have withdrawn £30,000 last week from my profit via Skrill, and I got £30,000 in my Bank account now. No problems to withdraw money.

Very easy to trade with them, so far Best Broker.

I have traded aggressively without any problem, and my account balance is over £128,000 just under four weeks of trading. I can send proof if any body needs it.

I highly recommend Gallant Capital Market to any trader.

Sorry it's my 2nd post because I didn't rated last time.

Today I finally got my funds. It took exactly 1 month for funds to travel from MT4 to my bank account. Gallant says that intermediary bank were to blame. Well maybe... In the end I am happy but can`t give them more than 3 stars because it took 1 month and I never experienced such delays with other brokers (banks).

2014-10-23 2Star Ordered withdrawal of funds at 29th september 2014. (MT4 account number 207564)
At october 16th received this e-mail:
"Please be advised our bank provided us a translation of the narrative and it appears the intermediary bank returned the wire due to compliance reasons. Our bank informed us they will attempt to find out more specific details. We will revert once we have additional information regarding this transaction. "
Now is october 23rd and the funds are still not received.
Will update when there will be new info.

I did trade for 8 months with Gallant, after few months and when i start to ask for withdrawal then there it starts the real problems to appear. first 2 times I requested withdrawal where almost fine with some delay on the second one, when i closed my account few days ago and requested for withdrawal since 8th of August 2014 and until now still the status is pending and they didn't reply on my emails. the previous withdrawal took one month exactly and each time they come up with an excuse, the first excuse was please provide us with your bank account and not the Master card which we transferred to you the money the it first 2 times, then after 15 days they asked more information about my bank account which was not required on the withdrawal form, then they said sorry the bank account you provided was wrong so i sent the same information and after one month i received the withdrawal. now i am waiting my money as i closed the account and I got no respond from their side so far.

GCMFX invited me to a contest by email with first prize 25,000$ and I went on their website to read the rules. I believe this is unethical and decided to post here to protect beginners from scam.

If you win a prize, then you have to deposit 2,500$ of your own money, and then trade for 12 months, doing more than 5000 round turns of 1 lot, without having an account drawdown of more than 20%. This is statistically impossible, but in the case you could do it, they reserve the right to disqualify any participant at their own discretion, and yes, they will do it.

Had a similar experience to the negative posts on here. My second deposit goes missing, they don't reply to my emails and close trades before tp hits, unlike my other brokers. See thread in scam alerts folder as, until my second deposit is loaded, I have to assume that they're not going to be around much longer.
Would like to give it a one star but I can't truly justify if from the rating description.
If I ever get my deposit loaded I'll be withdrawing and testing a different broker.

Good traders, the average slip points less than 10 points, more than FXCM, fxopen, forex.com slip point a lot less.

I’ve been trading with Gallant for going on a year now. I’ve never had any issues with them and whenever I had a question their support team was always on hand and ready to assist. There execution and spreads are top rate. I’ve recommended several friends who have also had the same trading experience as I’ve had. If you’re looking for a legit STP broker I would highly recommend Gallant.

I belive that gallant is a good bunch of people that helped me to setup my account and give me good help with metatrader. I have not been able to take our profits yet as I am still learning, but I have a good relationship with the customer service and dont think I will have an issue.