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Operating status: SCAM
Website: https://www.gmtcapitals.com/; https://www.gmtplatform.com/; https://www.gmtdirect.com/
On April 12, 2024, the Italian Companies and Exchange Commission (CONSOB) ordered three websites of GMT to be blacked out since they offer financial services illegally in Italy, they are: gmtdirect.com, gmtplatform.com and gmtcapitals.com. https://www.consob.it/web/consob-and-its-activities/news-in-detail/-/asset_publisher/kcxlUuOyjO9x/content/press-release-of-12-april-2024/718268
The "GMT" series encompasses three websites: GMT Capitals (gmtcapitals.com), GMT Platform (gmtplatform.com), and GMT Direct (gmtdirect.com). Despite their different brand names, logos, and website colors, these websites share identical content, company profiles, and a specific claimed address, 2 SQUARE DE MEEUS 35/37, Bruxelles. They also feature similar graphic designs.
Notably, none of these websites provide regulatory information, which suggests they lack the necessary authorization to operate as trading platforms. It's important to highlight that they claim to be based in Belgium, a country where the distribution of certain derivatives, such as binary options and leveraged CFDs, is prohibited, as are certain distribution practices. Consequently, these websites are technically operating illegally in Belgium.
Furthermore, the Italian Companies and Exchange Commission (CONSOB) has recognized the connection between these three websites. It has classified them as fraudulent investment sites and issued an order for their closure, adding them to its warning list.
In essence, these three GMT websites are not regulated by any governing body. Entrusting them with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. They appear to be scams.
On May 16, 2024, the Belgian Financial Services and Markets Authority (FSMA) added GMT to its warning list as a fraudulent trading platform operating in the Belgian market and advised investors to stay away from it. https://www.fsma.be/en/warnings/look-out-traps-beware-these-fraudulent-trading-platforms
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