Global Market Index Limited (www.gmi-marketpro.com) is a fraudulent platform that misuses information from various brokers. Its website domain was registered on August 26, 2024. This scam broker claims to offer investment services in markets such as stocks, forex, commodities, precious metals, indices, and cryptocurrencies.
Company Registration Information and Regulatory Status
Public information on gmi-marketpro.com shows its company entity as Global Market Index Limited. The company claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC), with license number 123/10, and also by the South African Financial Sector Conduct Authority (FSCA), with license number 46990. Additionally, the broker claims to hold a U.S. NFA license, with license number 0558058.
Furthermore, the website does not disclose additional registration information about the company entity and lacks legal documents such as terms of service, privacy policy, and risk disclosure.
Upon verification, the Cyprus Securities and Exchange Commission (CySEC) website shows that license number 123/10 belongs to Colmex Pro Ltd, while the South African FSCA website indicates that license number 46990 belongs to COLMEX PRO LIMITED. These licenses actually belong to the broker Colmex Pro and not to Global Market Index Limited. Additionally, the U.S. National Futures Association (NFA) website shows that no company exists with NFA ID 0558058.
Moreover, the design and content of gmi-marketpro.com are copied from the Colmex Pro website, and the company name and brand logo are plagiarized from GMI Markets.
Trading Instruments
gmi-marketpro.com offers trading in various financial derivatives, including stocks, forex, commodities, precious metals, indices, and cryptocurrencies.
- Stocks: Represent ownership in a company. Investors gain partial ownership and the right to receive dividends. Stock prices are influenced by company performance, market sentiment, economic conditions, and other factors.
- Forex: Currency exchanges between different countries. The forex market is the largest financial market in the world, operating 24/7. Exchange rates are influenced by global economic data, geopolitical events, interest rate changes, and other factors.
- Commodities: Include raw materials and basic products like agricultural goods (e.g., wheat, soybeans), energy (e.g., crude oil, natural gas), and metals (e.g., copper, aluminum). Commodity prices are affected by global supply and demand, climate change, geopolitical situations, and other factors.
- Precious Metals: Typically include gold, silver, platinum, and palladium. Precious metals are considered safe-haven assets, and investors often buy them to protect their assets during times of market uncertainty.
- Indices: Stock indices reflect the overall performance of a group of stocks, such as the S&P 500 or the Dow Jones Industrial Average. Indices are often used to measure the overall performance of a specific market or industry.
- Cryptocurrencies: Digital currencies that use encryption technology, such as Bitcoin and Ethereum. Cryptocurrency markets are highly volatile, with prices influenced by market demand, technological development, regulatory changes, and macroeconomic factors.
Account Opening Process
The account opening steps on gmi-marketpro.com are as follows:
- Visit their website and click the "Open an Account" button on the homepage to access the account registration page.
- Fill in the account application form with your name, email address, and set a login password. Upload both sides of your ID and submit the application form.
- Once the application is submitted, the account will be successfully registered and accessible.
Account Types
gmi-marketpro.com claims to offer various trading accounts, including Multi-asset accounts, Stocks CFDs accounts, MT5 Accounts, Retail Traders accounts, and Professional Traders accounts.
Retail Traders
- Major currency pairs: Leverage 1:30
- Non-major currency pairs, indices, and gold: Leverage 1:20
- Commodities and metals other than gold: Leverage 1:10
- Stocks and ETFs: Leverage 1:5
- Cryptocurrencies: Leverage 1:2
Automatic stop-loss: 50% account equity. The least profitable positions will be closed until the margin level is above the minimum requirement.
Professional Traders
- Currency pairs: Leverage 1:200
- Metals except silver: Leverage 1:100
- Commodities, indices, and silver: Leverage 1:40
- Stocks and ETFs: Leverage 1:20
- Cryptocurrencies: Leverage 1:5
Global Market Index Limited accounts: Positions will be closed when the account balance reaches $50.
MT5 accounts: Automatic stop-loss when account equity reaches 10%. The least profitable positions will be closed first.
Trading Platform
Public information on gmi-marketpro.com shows that it offers users the MT5 trading platform, available only on the web and mobile versions. However, clicking the mobile download link on their website reveals that the broker provides the MT5 PC test version. Also, the MT5 platform shows that the broker Global Market Index Limited's website is gmimarkets.com and not gmi-marketpro.com.
Deposits and Withdrawals
gmi-marketpro.com claims to support deposits and withdrawals through VISA, Mastercard, Skrill, and other methods.
Conclusion
Traderknows alerts investors that Global Market Index Limited (www.gmi-marketpro.com) is actually a fraudulent website that has stolen information from two brokerage firms. Investors are advised to choose brokers that are transparent, strictly regulated, and reputable to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
