Major Risk Alert: GMZ Global Disappears Amid Client Complaints and Fraud Allegations

The website of forex broker GMZ Global is currently inaccessible. This issue seems to have arisen in early February when a trader reported losing access to the site. Another trader similarly stated that he could not access his account on GMZ Global and had no means of contacting them via email. 

On February 14, a GMZ Global client submitted a complaint to BrokersView, claiming that he deposited more than $1,700 on the platform, but his withdrawal request was denied. 

This issue seems to be affecting others as well, as another trader left reviews inquiring whether anyone had successfully received a refund or withdrawal.

GMZ Global may have absconded with client funds

Reports of similar issues suggest potential fraudulent practices by GMZ Global. Coupled with the inaccessibility of its website, it appears that GMZ Global may have ceased operations.

A check on its regulatory status reveals that GMZ Global remains authorized by the Anjouan Offshore Finance Authority (AOFA), the regulatory authority for the financial sector in Anjouan, Comoros. This license is set to expire on 10 June 2025.

It is suspected that GMZ Global may have absconded with client funds before the authorization becomes inactive.

With GMZ Global's online presence disappearing and no response from the broker, traders have been voicing their frustration and demanding refunds in recent days.

A trader has spoken out on the social media platform Facebook, stating that GMZ Global "is the biggest fraud company." He revealed that there has been no communication and no updates after the company took people's money.

BrokersView has made efforts to relay the above-mentioned client complaint to GMZ Global but was unable to contact them. We encourage affected traders to file a complaint with their local police, law enforcement agencies, and the regulatory bodies overseeing the financial market in their respective countries.

Alternatively, traders can report GMZ Global's misconduct and suspicious behaviors to the AOFA.

Meanwhile, we remind traders who have lost money on this platform to be wary of recovery room fraud. Scammers may pose as officials from regulatory agencies or as employees of purported law firms, claiming to help recover lost funds. These fraudsters can only cause further financial losses to victims. Do not send money to them.