GDMFx.com Review

Scam!
1.824 · 71 REVIEWS
Updated: Nov 5, 2021 · Visit site  · Is this your company?

GDMFX is an online forex broker. GDMFX offers the MetaTrader 4 and MT Mobile forex trading top platforms. GDMFX.com offers over 20 currency pairs, and metals for your personal investment and trading options.Traders should be aware that GDMFx does not appear to feel obligated to process withdrawal requests.

GDMFx.com
2019-04-29:  The CNMV of Spain has issued an unregistered firm warning against gdmfx.com/Global Derivative Capital Markets NZ Ltd.  CLICK HERE to verify.
2019-04-16:  The New Zealand Companies Office lists Global Derivative Capital Markets NZ Limited (3945518) as being In Liquidation.  CLICK HERE and search  for company 3945518 for confirmation.
SCAM CONFIRMATION

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.

SCAM CONFIRMATION
2016-07-08:  GLOBAL DERIVATIVE CAPITAL MARKETS NZ LIMITED (FSP238465) has been deregistered by the New Zealand Financial Service Providers registry.  CLICK HERE to confirm.

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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.

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Scam!
1.824 · 71 REVIEWS
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Traders Reviews

Beaune, France,
Feb 8, 2018,
Registered user

GDMFx does not honor withdrawals, or even scheduled payments

As promised here is my update: unfortunately GDMFx broke its promise on the schedule we agreed upon. I was supposed to receive a third of my withdrawal on the second week of January and so far I received nothing. The new account manager M. Grinkevich is not giving explanation and it all looks like GDMFx can not process withdrawals anymore. On top of it, they refuse to honor the solutions previously agreed with their customers. My advice is to stay away from this broker until they solve their internal problems and pay what they owe to their customers.

Nov 24, 2017 - No Rating Just a quick note to let people know that the scheduled withdrawal is going smoothly so far. Not that I got all my money back (far from it), but the company kept its promise on the installments, which proves they are saying the truth and not trying to steal from clients. Will keep you posted as soon as all the money reached my account.

Nov 16, 2017 - No Rating After a bad period where GDMFX tried to cover its internal issues, it seems they finally decided to explain themselves and offer a solution to their harmed customers. So far, we agreed on a scheduled withdrawal that will take much longer than normal but could prove to be the best solution in these circumstances. As soon as all the money finishes reaching my account I'll be more than happy to rate them fairly as this company would have proven its honesty and ability to provide a fair service during good and bad times. But until then, I'll reserve my judgment and will keep you posted.

Nov 13, 2017 - No Rating I don't want to provide any rating so far because the issue is still pending, but I requested a withdrawal of 14522 EUR on october 26th and have not yet received my money. Chat support assured me that my personal account manager, Mr Vasil Dikov, would contact me on 9/11 to resolve the issue and so far I did not received any call. I will keep you posted on the resolution of this withdrawal so everyone can judge of their practice. In order to be fair, I already had delay issue when withdrawing with GDMFX in the past, but it has always been sorted out, so we'll see how they handle it this time.
 
Canada,
Jan 24, 2018,
Registered user

Gdmfx is not paying my withdrawals

I withdrew $600 from GDMFX about two week ago and I have not received my payment from them . I was told that it will take only seven working day to get my money. Seven working has past still no money in my account.

Anytime I contact them I keep getting this information from them.
Your withdrawal is not processed yet. We are experiencing issues with the payment processors, which is leading to delays. We are fixing the issues and will complete the withdrawal procedure as soon as possible.

I think I am being scammed by them I will not see my money again. Reading from other peoples comment who have not being paid for the past four months, it signify that this broker is a scammer. I do not know what to do getting my money back.
here is no dispute about any of the trades.....they simply fail to give me my money back.
I am also reading many similar stories on their facebook page.

It is worth noting that, although domiciled in New Zealand, they claim that they do not need to be registered with the financial authorities. Whilst this may or may not be true, the bottom line is that they are no more regulated than any of the bucketshops located in any other lawless jurisdiction.

I will survive their theft of my money, but I will take them down since online reputation is the only thing that such a company has going for it.

I am registering a domain gotscammedbygdmfx.com where I will build a website in the coming weeks. If you have had an issue with these thieves, there will be a facility to contact me there in due course.
 
Prague, Czech Republic,
Jan 23, 2018,
Registered user

Bad communication, you never know what's going on with your money.

Issue escalated to Traders Court peci1 vs gdmfx.com | GUILTY
They voided my profits on trading USDTRY as they did for other traders. One month ago they told they'll send me my funds, but so far they only sent a half of them. They really lack in communication with the clients.
 
Dhaka, Bangladesh,
Jan 15, 2018,
Registered user

Withdrawal of USD 17,700 withheld.

They disabled all of my accounts without any reason.

I am waiting to receive my $17,700 for over 3 months. They always were saying that they were processing that shortly. Now, they even stopped replying to my email.

If I don't get my funds within this month, I am going to take serious action against them.

Jul 25, 2017 - 5 Stars Very competitive market conditions. Fast withdrawals. High level services. Never had any problem. A good choice!
 
Iowaboy,
USA,
Jan 15, 2018,
Guest

GDM is a big scam

They are scammers. They dont let me get money out of my account. Plus they are in deep trouble. I think they are running out of money. Sooner or later they go out of business. Stay away from them if you dont want to lose your money
 
Lars,
Cologne, Germany,
Jan 9, 2018,
Guest

I have been waiting for the transfer of my money from GDMFX since 5th of december now (Account number: 8159089).
The amount was deducted from my trading account the same day, but never transferred.

I received everytime the same information to process the request as soon as possible from the support team but nothing happens. They will tell you allways "We are checking with our Accounts team on a daily basis.Unfortunately this is all we can do on our side to make sure that it is processed as soon as possible."

I must warn everyone and advise against investing money with GDMFX. At the moment it seems for me that i will not receive my withdrwawal. in the next step I opened an official complaint aganist GDMFX.
 
Portia Rabany,
South Africa,
Jan 4, 2018,
Guest

my name is Portia Rabany I really don't know what to do any more GDMFX it's been 4week now still no answer waiting for my withdraws , school are about to open I was hoping my funds will be out by now to pay off the school fees, am really in a situation. can you please help me out here
 
john,
Canada,
Dec 31, 2017,
Guest

This scammer fake price to make your balance negative to take all your profit and money. I had a buying position of Dowjone at 22900 which is in profit and they fake the price down to 19900 to take all my money. In fact, DowJone has never slumped to 19900.
 
Reply by GDMFX submitted Jan 3, 2018:
Hello, John.

Please send all specifics to our Support team so they can check. We could not find a complaint from a Canadian client regarding Dow Jones.
Pretoria, South Africa,
Dec 13, 2017,
Registered user

Update since told "normal services restored"

Hi, update on my withdrawals and a question no one at GDMFX want to answer even on the review channel.

1) I mentioned that my account never traded anything with the TRY currency before and still my withdrawals are affected greatly, I am bringing this up because they claim the source of the situation come from that in other review replies, and they mention the word 'accounts'. So why am I so affected?
2) After an update from their agents confirming services have been restored to normal, Two weeks later my withdrawals have not been process yet, in the review below I have stated my withdrawals dates.
3) In the first week of December while trying to get the status of my situation I was told by a different agent that GDMFX is still trying to resolve the issues and that the problem is not solved. NOW IMAGINE MY SURPRISE AND LITTLE TRUST I HAD BEEN TORN TO PIECES reason being I had agents conveying completely opposite information. SOLVED THEN NOT SOLVED.
4) When in need of real help my account manger replied to my first email but not giving an answer to the main question in the email, so I send the second email acknowledging the information he provided but insisted on an answer to the main question I asked, Now the conversation went cold (No reply).

I really hope I get my withdrawals before the 2 months lapses. During this situation I had hoped for better information and communication especially between clients and account managers as agents are often very generic. I am not trying to encourage anyone from not working or working with GDMFX as experiences are different, some are very happy some not so. This is my personal experience.


Dec 1, 2017 - No Rating Hi everyone, Spoken to an agent on the 30th November 2017 and they told me everything (services) is back to normal meaning all this trouble we been having should with our withdrawals should be solved in normal timeframe. Now I personally will wait 3-7 days from 30th and give them a chance to process my withdrawal made on the 25th Oct and 10th Nov 2017. Will keep an update my initial review till this issue is sorted out completely.

Nov 21, 2017 - No Rating 1000USD withdrawal made on the 25th Oct 2017 and another on 10th Nov 2017, To this day 21 November 2017 I still don't have my payments or an email saying they processed them at least. Live chat agent from GDMFX keep saying it will be processed "soon" for the past 2 weeks, Now I don't know how to take it because "soon" can also be 2 years. The review below submitted a their withdrawal request on the 26th October 2017 and luckily for them they eventually received their funds now why I am still waiting I do not know. Also the account have not been traded for over a month prior to the withdrawal and never attempted to trade any Turkish Lira pairs. This is worrying. Asked them about an alternative to get my funds, They have none.
 
Switzerland,
Dec 5, 2017,
Registered user

Problem solved!

gdmfx has now transferred my money. It seems the problems are solved..................

Nov 7, 2017 - 1 Star I have been waiting for the transfer of my money from GDM FX (gdmfx.com) for 40 days now. The amount was deducted from my trading account the same day, but never transferred. I did not receive any information about this from GDM FX (gdmfx.com) support as of now.

I must warn everyone and advise against investing money with GDM FX. (gdmfx.com) At the moment GDM FX (gdmfx.com) could be a scam!