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GBI Capital Group
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Caution Investors GBI Capital Group – This entity is likely to be offering financial services to Australian consumers. It does not hold an Australian financial services licence or Australian credit licence from ASIC, and is not authorised by a licensee
Overview of GBI Capital Group
GBI Capital Group is a financial services provider that claims to offer trading and investment opportunities in various markets, such as forex, commodities, indices, stocks, and cryptocurrencies. The company claims to have a global presence, with offices in Australia, New Zealand, Singapore, Hong Kong, and the UK. The company also claims to have a team of experienced professionals, advanced technology, and competitive pricing.
However, the Australian Securities and Investments Commission (ASIC) has recently issued a warning against GBI Capital Group, stating that the company is not registered or licensed to provide financial services in Australia. ASIC also stated that the company may be involved in a scam, as it has been using false or misleading information to solicit customers. ASIC advised investors to avoid dealing with GBI Capital Group and to report any suspicious activity to them.
Regulation and Compliance of GBI Capital Group
According to the ASIC warning, GBI Capital Group is not regulated or authorized by any reputable financial authority. The company does not have an Australian Financial Services Licence (AFSL) or an Australian Credit Licence (ACL), which are required for providing financial services in Australia. The company also does not have a New Zealand Financial Service Providers Register (FSPR) number, which is required for providing financial services in New Zealand.
Furthermore, the company does not comply with the reporting requirements of the securities and derivatives markets. The company does not provide any information on its legal status, ownership structure, financial statements, risk disclosures, or dispute resolution mechanisms. The company also does not adhere to the anti-money laundering and counter-terrorism financing (AML/CTF) rules or the client money protection rules.
Customer Reviews of GBI Capital Group
The customer reviews of GBI Capital Group are mostly negative and alarming. Many customers have reported that they have been scammed by the company and have lost their money. Some of the common complaints are:
– The company uses high-pressure sales tactics and false promises to lure customers into depositing money.
– The company does not allow customers to withdraw their money or close their accounts.
– The company charges hidden fees and commissions that are not disclosed upfront.
– The company manipulates the trading platform and the market prices to make customers lose money.
– The company ignores or blocks customer inquiries and complaints.
Products and Services Offered By GBI Capital Group
GBI Capital Group claims to offer a variety of products and services for trading and investing in different markets. Some of the products and services are:
– A web-based trading platform that supports multiple languages and devices.
– A range of trading instruments, such as forex pairs, commodities, indices, stocks, and cryptocurrencies.
– A selection of account types, such as standard, premium, VIP, and Islamic accounts.
– A variety of payment methods, such as credit cards, debit cards, wire transfers, e-wallets, and cryptocurrencies.
– A range of educational resources, such as webinars, videos, articles, and e-books.
– A range of trading tools, such as market news, analysis, signals, charts, and indicators.
However, these products and services are not verified or endorsed by any reputable authority. The quality and reliability of these products and services are questionable and may be fraudulent.
Location of GBI Capital Group
GBI Capital Group claims to have a global presence with offices in several countries. However, these claims are not substantiated by any evidence. The company does not provide any physical addresses or phone numbers for its offices. The company only provides an email address and a live chat option for contacting them.
Moreover, the location of the company’s headquarters is unclear. The company’s website domain is registered in Panama, which is a notorious offshore jurisdiction for shady businesses. The company’s terms and conditions state that the governing law is the law of Saint Vincent and the Grenadines, which is another offshore jurisdiction with lax regulation. The company’s privacy policy states that the personal data of customers may be transferred to third parties in other countries, which may pose a risk to their privacy and security.
Customer Service Provided By GBI Capital Group
GBI Capital Group claims to provide 24/7 customer service via email and live chat. However,
the customer service provided by the company is poor and unprofessional. Many customers have reported that they have been unable to reach the customer service representatives or get any satisfactory answers from them. Some customers have also reported that they have been harassed or threatened by the customer service representatives when they tried to withdraw their money or close their accounts.
Defensive Measures Against Fraudulent Brokers
GBI Capital Group is a typical example of a fraudulent broker that operates in the online trading industry. The company uses deceptive and illegal practices to scam unsuspecting customers and steal their money. To avoid falling victim to such scams, investors should take the following defensive measures:
– Do not trust any unsolicited offers or promises that sound too good to be true.
– Do not provide any personal or financial information to unknown or unverified entities.
– Do not deposit any money with unregulated or unauthorized brokers.
– Do research on the background and reputation of any broker before dealing with them.
– Check the official websites of the relevant financial authorities for any warnings or alerts against any broker.
– Report any suspicious or fraudulent activity to the appropriate authorities.
Conclusion
GBI Capital Group is a scam broker that should be avoided at all costs. The company is not regulated or licensed by any reputable authority and does not comply with the reporting requirements of the securities and derivatives markets. The company uses false or misleading information to solicit customers and does not provide any transparency or accountability for its operations. The company does not offer any quality or reliable products or services and does not provide any customer service or support. The company manipulates the trading platform and the market prices to make customers lose money and does not allow them to withdraw their money or close their accounts. The company is likely to disappear with the customers’ money and leave them with no recourse.
Investors should be aware of the risks and dangers of dealing with such fraudulent brokers and take the necessary defensive measures to protect themselves and their money.
