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GCMAsia

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Operating status: SCAM

Website: https://www.gcmasia.com/my; https://www.gcm-asia.com/

Broker violations and abnormal records
  • 2018-01-16 The Malaysia BNM Added GCMAsia into Its Financial Consumer Alert List

    On 17 Jan 2018, the Central Bank of Malaysia issued a warning against GCMAsia that this firm may have been wrongly perceived or represented as being licensed or regulated by Bank Negara Malaysia (BNM). You may visit: https://www.bnm.gov.my/financial-consumer-alert-list.

    On 17 Jan 2018, the Central Bank of Malaysia issued a warning against GCMAsia that this firm may have been wrongly perceived or represented as being licensed or regulated by Bank Negara Malaysia (BNM). You may visit: https://www.bnm.gov.my/financial-consumer-alert-list.
  • 2023-01-05 BrokersView has Reviewed that GCM ASIA is an Unregulated Broker

    GCM ASIA claims that it is Fortrade Limited's agent, Fortrade Limited under the regulation of Financial Conduct Authority（FCA）, The Finacial Services Commission of Mauritius（FSC）, and Australian Securities & Investment Commission(ASIC）, but we found that these regulations only belong to Fortrade Limited after we checked the regulators. Since there is no information matching GCM ASIA in the relevant regulatory details shown on the regulators. That means this company may be a clone company that falsely uses the regulations of a licensed firm.
    Moreover, the National Bank of Malaysia issued a warning that GCM AISA may provide financial services or products without authorization.
    The truth is, GCM ASIA is not under valid regulations by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

    GCM ASIA claims that it is Fortrade Limited's agent, Fortrade Limited under the regulation of Financial Conduct Authority（FCA）, The Finacial Services Commission of Mauritius（FSC）, and Australian Securities & Investment Commission(ASIC）, but we found that these regulations only belong to Fortrade Limited after we checked the regulators. Since there is no information matching GCM ASIA in the relevant regulatory details shown on the regulators. That means this company may be a clone company that falsely uses the regulations of a licensed firm.Moreover, the National Bank of Malaysia issued a warning that GCM AISA may provide financial services or products without authorization.The truth is, GCM ASIA is not under valid regulations by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.
  • 2023-08-10 Malaysian Police Arrest 101 in Crackdown on GCMAsia

    On August 7, 2023, Malaysian police conducted a raid agianst GCMAsia, arresting 101 suspects. https://www.brokersview.com/news/malaysias-fraudulent-investment-group-gcm-asia-cracked-down-by-the-police-109031

    On August 7, 2023, Malaysian police conducted a raid agianst GCMAsia, arresting 101 suspects. https://www.brokersview.com/news/malaysias-fraudulent-investment-group-gcm-asia-cracked-down-by-the-police-109031

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