2018-04-30: GDMFx just received 4 more FPA Traders Court guilty votes for failure to pay money owed to customers. This makes a total of 6 guilty votes against the company.
The FPA now considers GDMFx to be a scam. The FPA recommends against depositing any money with GDMFx. If you have money with this broker, the FPA recommends you try to withdraw it as soon as possible.
The FPA is disappointed in how the CEO of GDMFx has handled these complaints.
GDMFx.com profile provided by GDMFX, Jan 19, 2018
Global Derivative Capital Markets NZ Limited (GDMFX) is a global broker providing online currency trading services. The company is registered in New Zealand and listed on the New Zealand Company’s Office site under Number 3945518 with its regional headquarters based in Auckland New Zealand since August 2012.
GDMFX, these scammers are still working!!
Apr 24, 2018 - 1 Star As many of the traders on this site GDMFX has stolen my money, They were working ok since I began with them in June 2017, then in October 2017, after doing a lot of trading with them, they refused to withdraw my money. They don't answer my emails, neither the phone. I have contacted a lawyer in NZ. I guess they are in bankruptcy.
Feb 20, 2018 - 0 Stars Serious warning against GDMFX!
GDMFX dont want to process my withdrawals of total 41 754 USD. The first withdrawal was submitted on 20.10.2017 (4 months ago). Since then, I am getting only useless excuses and ignorance.
First of all, I was getting excuse that they cannot pay me because of limits from their bank. 13 days after my first withdrawal request, my GDMFX account manager Andrey Grinkevich called me to inform me that there was extreme volatility on the pair I traded, their liquidity provider doesnt want to to pay because of it and they cannot process my recent 15K withdrawal. Instead of it, they kindly offered me 15k bonus that I can withdraw after I trade some insane volumes. I answered that they can keep their generous offer and I wanted the profits that belong to me. He also ensured me that I will get the rest of the money on my GDMFX accounts (26 754 USD). After few days, he called one again and told me that they will have a meeting where they decide what to do next and he will inform me about the result. Since then he provided no update to me, he promissed me updates several times but I recieved nothing. Only thing he can say to me is "still no updates from financial dep" or "GDMFX has right to hold your funds according to its ToS".
Their ToS say that they have right to put on hold withdrawals for up to 6 months once a big movement in the market happens and affect an open trade. They claim that a market move over 1k pips during 48 hours period is an extreme market movement. But with USDTRY pair, it happens time to time (just opening spread was over 40 pips) and who hold positions on this pair for longer time, such trader experiences such move for sure. This rule is pretty unethical and serves as a perfect excuse to not pay traders for long time.
I discovered there is more traders in the exact situation as me so it is indicates that GDMFX is now in situation that they cannot (or dont want) to pay profits and deposits anymore.
Now they even dont respond on forums or facebook. Even their live chat is gone. During the times they were still responding, they claimed the whole problem comes from their liquidity provider who refused to pay the USDTRY profits. So I thought we are on the same boat and together with GDMFX I will be fighting against an evil liquidity provider. But the reality changed. They dont want to pay me even the older profits and deposits and what more, they disabled my accounts and put them "under investigation". They claim that I had been trading on bad prices and they need to review the trades. This is total BS - my trades duration was in weeks, sometimes even months - I was after the long term market movements. I compared the entry and close prices with another brokers and it fits. With this excuse, they already deleted profits of my brother. To another trader, they offer a settlement of three payments, 5k USD each. So far they sent only one, now they are in big delay already and he claims they dont respond to him anymore. You can also read reviews on FPA or their facebook that they have now general problems with withdrawals. Seems they are really going to leave the market with our funds in their pockets.
What also really sucks is that GDMFX dont want to reveal who their liquidity provider is. There are rumors out there that they are b-booking trades on all account types so there is no liquidity provider and they just use this as excuse to not pay out profits. They cannot just say "Hey, our liquidity provider doesnt want to pay your profits and sorry for that, but we cannot tell you who it is."
After all that happened, it seems there is only a little chance that they are willing to return our money. If their intentions were good, why on earth they dont return at least our deposits for the start?
We have a small group of traders who are involved in this mess and we are considering legal actions and even solving with help of international police organizations. If you want to join our group action, contact me in the forums.
GDMFX : SCAM!
GDMFX IS FRAUD !! I have been waiting for two months to complete my takedown operation. initially attempted to justify the delay by claiming that there were a large number of requests in the & quot; queue. Exactly as answered to others here. Now, they just ignore my emails. That is ... unfortunately, I am already considering lost my investment. Blow !!!!
Gdmfx its a SCAM
Its not enough know how to do graphic analysis, understand markets, indicators, spend time, energy and everything else, if you are at the mercy of a rubbish broker company...
GMD SUCKS!! YOU're A LIER!
Withdraw and manipulation issues
I am file this complain on behalf of my account and my clients accounts as I have PAMM account with GDMFX and under my account I have 4 accounts.
Account numbers as below
Master Account : 8159012
client 1 : Satpal Patel :8159098
client 2 : Sanjesj kumar :8159097
client 3 : Prabhat Ranjan :8159138
client 4 : Akash Patel : 8158872
We all have our total deposited $ 5000 in november 2017. After some issue my clients do not want to trade anymore so we apply for withdraw our account fund in january 2018. and company keep saying lie to us and now they declare that they are scam company and government blocked their accounts. So please beware from this company and We are now doing legal process against this company and keep you updated here.
May 17, 2018 - 1 Star THE WORST broker ever i seen in my life. have issue with withdraw from more than 6 months and now they stop live chat and also they do not reply to my emails as well.
Jan 8, 2018 - 1 Star nothing to say just read the online chat below, waiting for withdraw for more than one month...
Please Please Please Stay away from GDMFX.COM
better to give that money in charity......
Mr. PetrovSupport Agent
Mr. Petrov Hello akash. How may I help you?
akash Ticket #F2GS8
please update the status
Mr. Petrov Unfortunately, we do not have any new information from our accounting department
I will send them a reminder and as soon as they reply we will inform you
akash its been more than one month
Mr. Petrov We are sorry for the delay
akash how long more ?
Mr. Petrov I can not give you an exact time
akash so i need to wait for life time?
Mr. Petrov No, at the moment we are experiencing issues with our payment processors
akash you are keep saying this from one month
you are a big company and how you can not have payment processors?
tell the truth please
Mr. Petrov They are experiencing issues at the moment and as soon as they are fixed, your withdrawal is processed
akash i want to write a review on FPA Read
Mr. Petrov Ok
Dec 14, 2017 - 1 Star The worst experience i ever had in my 4 to 5 years of trading history.
(1) I withdraw $350 on 5th of november 2017 and still they do not have any update for the withdraw
(2) after create a ticket there is no answer for two days
(3) this one is the worst one, I had an open trade 1.60 lots of EURUSD BUY, I close my PC at 10:00 pm night as regular shedule. In the morning what i see is really rediculas. the 1.60 lots trade was close partially two times with 0.49 lots and it blew my $1600 in midnight at 12.30 - 1.00 am.
When i complain regarding this they keep saying that it was execute by me. How can i execute the trade in night at 1.00 am???
Friends please keep away from this broker. might be declare as scam in short future.
Withdrawal Problems. No live support.
The same situation. I created gdmfx account in 2016. Now my balance is near 2,7 k. I tryed withdrawal to Skrill 2 times: 500$ (three weeks ago) and 100$ (one week ago). Still now - no results, no money in my Skrill account. My requests's answers by gdmfx support bot: "Due to a massive amount of withdrawal requests recently, we are sorry your withdrawal request was put on hold causing it to be a delay." and "We are unable to provide you a specific time frame due to a massive amount of withdrawal requests recently. We are sorry your withdrawal request was put on hold causing it to be a delay. We will try to process it as soon as possible".
Worse still today i m not able to login to my MT4 and wonder how to make a full withdrawal since my small amount of 750 USD was not success since 2 months ago and the money still not yet bank into my account.
What can i do...next ?
Anyone can help or any advice ?
I need help about GDMFX!
these days I found out that this broker has financial problems.
I have a small amount of money (2,3k) which I have not yet draw.
What would you recommend me before I make draw?
I will enjoy your advice and recommendations.