is this site legit, i tried to do some research of my own,
i feel i get warning signs,
can you please help me out?
Tom.
Hi there,
Thank you for your message. I have looked into GDMAX LTD and you’re right, it seems to be a scam.
There are numerous red flags:
- First of all, GDMAX is not regulated at all. They claim to have a license from the “Financial Services Authority (NFA)”, however, NFA stands for National Futures Association, so their claim is already false.
- Secondly, under the ‘About us’ page, they talk about a company called Blue Whale which seems to be out of place.
- Also, numerous data on their website is outdated which raises some concerns (e.g. data for EURUSD spreads was obtained in 2019).
- Lastly, the design and structure of the website is similar to other fake brokers.
So taking all these red flags into consideration, please don’t use GDMAX. If you’re looking for reliable and regulated brokers, you can find them here: https://brokerchooser.com/broker-reviews.
Please let me know if you have any further questions.
Best wishes,
Andris