The multinational Ponzi scheme finally meets its end after years of leading investors into loss. At first advertised as a regulated investment portal, GSPartners Global broker had nothing but an offshore banking license they hid behind.
Today, the perpetrators of the campaign are being sued by multiple governments and we can only hope they get what they deserve for robbing thousands. More on how the financial scandal went down in the following GSPartners Global review.
| Regulated by: | Unregulated Investment Firm |
| Is This Company Safe? | Absolutely not – they’re unregulated and are being pursued by authorities. |
| Known Websites: | gspartners.global – inactive |
| Have Warnings from: | OSC, BCSC, CSA, FCAA, IOSCO, ASIC, FSCA, FMA |
| Registered in: | Union of Comoros – Island of Moheli |
| Operating since: | 2020 |
| Trading Platforms: | Proprietary app |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | No |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | As authorities slowly resolve the scheme, victims still need help with withdrawals, so contact us promptly for chargeback advice. |
Legal Information: Is GSPartners Global Regulated?
GSPartners Global is part of GSB Gold Standard Bank Ltd, just like GSTrade. The company is registered in the Union of Comoros – Autonomous Island of Moheli. It holds a banking license from the local authority, Mwali International Services Authority. The website says you’re dealing with Swiss Valorem Bank, the carrier of the said license.
However, a banking license doesn’t cover offering investment services abroad. And yet, our company here claims to provide blockchain-based banking and digital asset investments. For this, they would need to be regulated by the local authorities in the countries of service.
Simply put, if a company has no license to trade in securities in your jurisdiction, you cannot file a complaint with the Financial Ombudsman or request reimbursement from the compensation fund. This is why it’s of utmost importance to verify all the facts before investing your hard-earned money.
The authorities finally confirmed our suspicions in May 2023. The Canadian regulator of the province of British Columbia issued an official warning against GSB Gold Standard Bank Ltd and all the related entities for offering to trade and advising in securities without being properly authorized. The same notice was republished on a national level by the Canadian Securities Administrators. This closes the question you all had – is GSPartners Global legit.
2024 Brings Warnings From Multiple Governments
Previously known under the name of GSPartners, the fraudulent scheme under the leadership of the con artist Josip Heit, has rebranded to GSPro. This happened near the end of 2023, when regulators started cornering the fraudster, as FinTelegram reports.
In the wake of 2024, besides the regulators previously blacklisting the tax haven scheme, new warnings came in. The fact that ASIC, FMA, FSCA and IOSCO confirmed the fraudulent activities of the business suggests their global reach.
Most recent warnings against the GSPartners Global scam came from various US securities commissioners, the latest one being issued in Georgia, on January 24th, 2024. The lawsuit came with a $500,000 fine imposed on the mastermind and his main US representative – Michael Dalcoe.
GSPartners Global Countries of Service – Who Are the Victims?
The company promotes its services mainly in the following countries:
- US,
- Canada,
- South Africa,
- UK.
GSPartners Global website, gspartners.global, was registered in the GoDaddy WHOIS database on the 9th of April 2020. Ever since, the company has been onboarding customers without being adequately authorized for their services. Note that US investors are forbidden from investing with any firm with no local headquarters, CFTC, or SEC approval.
Traders Reviews – What Clients Have to Say?
GSPartners reviews are definitely not impressive. Namely, the company ended up on Reddit, where users dissected the operations and explained how this swindler was lurking on victims. On Trustpilot, the situation is a bit different, thanks to many dishonest comments. Yet, those who decided to elaborate more on their experience claim this is nothing but a Ponzi scheme.
The company added the logo of BDSwiss, a CySEC-regulated brokerage that they allegedly cooperated with. In January 2023, the broker denied this and warned investors that it was not in any way related to Gold Standard Bank or its representatives.
What concerns us is the fact that we found no GSPartners Global contact information. The only way to reach out is through a website form where you may or may not get an answer. All in all, we’d stay away.
Trading Terms – Leverage, Fees, and Spread
It’s unclear what kind of investment services this company offers. They claim to provide you with a hot and cold wallet and investment in digital assets. However, they don’t elaborate on whether it’s investing in CFDs, trading, or typical buy/sell.
Hence, the trading terms are unclear as well. We know nothing about the spread, leverage, or any kind of trading fees. It’s a red flag after a red flag.
GSPartners Global Trading Features – Trading Platform and Accounts
So far, we believe it doesn’t even matter what you’ll get. It’s obvious that you need to stay away from GSPartners Global. However, let’s elaborate on the most important aspects.
Trading Platforms Choice
It seems that there’s some sort of proprietary platform connected to the digital wallet. However, no Demo account would give a glance at it. We won’t comment as much as we’re unwilling to risk our money with a company that’s been blacklisted by Tier 1 authorities.
Available Investment Assets
From all it seems, you can invest in cryptocurrencies and nothing else. The assets are allegedly held in hot and cold wallets and safely stored. Again, the firm has no authorization to provide services, so it doesn’t matter what kind of investment it is. In addition, they didn’t clarify the minimum deposit to get you started.
GSPartners Global Withdrawal – How Does it Work?
It’s unclear how you can deposit with the company, and it’s even more unclear what the terms of GSPartners Global withdrawal are. There are no available payment options, and the legal documents refer to “user’s own e-wallet” without specifying anything.
As we had a chance to learn through other people’s experiences, getting a payout seems impossible. In fact, this company seems to be abusing its existing banking license and trying to build credibility and reputation through other legit brokers.
What About the Stolen Capital?
If you are also one of the victims left behind the greedy and malicious MLM culprits, please do not hesitate to ask for professional advice and help with your GSPartners Global withdrawal.
Our chargeback professionals will guide you through the process of fund recovery – you deserve to have back what is rightfully yours. Contact us today and book your free zoom consultation with our legal advisors.
Key Details to Consider About GSPartners Global
To conclude this review, GSPartners Global holds an offshore banking license that doesn’t authorize it to offer trading services in Tier 1-regulated countries. Therefore, Canadian regulators issued official warnings against the firm.
According to reviews, the GSPartners Global support team is unreachable when customers want their money back, which creates problems for them. If you experience any issues, you should know there’s a chance to get your money back.
Contact us to book a free consultation, and we’ll gladly assist you with the matter. Our chargeback experts and CipherTrace crypto analysts will look into your case and evaluate it thoroughly. We’ll then know your chances of recovery.
What Is GSPartners Global?
GSPartners Global is a company holding offshore banking licenses while also offering unregulated investment services. If you experience any issues, let us know immediately.
Is GSPartners Global Available in the United States or the UK?
The company is available in both the US and the UK but without appropriate regulations.
Can I Trade Cryptocurrencies And CFDs With GSPartners Global?
The only investment option with GSPartners Global is crypto.
