Goldmar Review – Is This Untrustworthy Broker Reliable?
Goldmar Review – Is This Untrustworthy Broker Reliable?

Welcome to the Goldmar Review. We’ll explain exactly why this offshore broker is dangerous and why you should avoid investing.�

If you’ve been presented with this offer, make sure to read this review and think twice before investing. Now it’s time for some real evidence and facts that indicate fraud.

Also, remember the names of the GSL Markets, Royal Oak Investment and Bullexo trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Broker status:Unregulated Broker
Regulated by:Unlicensed Scam Brokerage
Scammers Websites:goldmar.co
Blacklisted as a Scam by:CONSOB, CNMV, FSMA, Bank of Russia
Owned by:Combobulating Group LLC
Headquarters Country:SVG
Foundation year:2022
Supported Platforms:WebTrader
Minimum Deposit:250 EUR
Cryptocurrencies:Yes – BTC, ETH, USDT…
Types of Assets:Forex, Indices, Commodities, Shares, Digital Assets
Maximum Leverage:1:500
Free Demo Account:Unavailable
Accepts US clients:No

Is Goldmar a Scam Broker?

Goldmar is an offshore broker from Saint Vincent and the Grenadines (SVG) that’s being run by Combobulating Group LLC. That’s all great but there’s one big problem.

Namely, SVG’s regulator, the Financial Services Authority (FSA), does not regulate the Forex markets, implying that Goldmar is unlicensed. That’s why the vast majority of SVG-based providers are con artists.�

Goldmar is an offshore broker from Saint Vincent and the Grenadines that runs a very suspicious business and aims to defraud traders from Canada, Poland, Spain, Croatia, Germany and Australia.

Arguments For Trading With a Licensed Broker

We recommend licensed brokers purely because of security and transparency. Offshore brokers are shady and operate under weak jurisdictions, i. e. they don’t follow strict rules.

If you want a reliable broker, look for those regulated by top authorities such as the FCA, ASIC, BaFin, CySEC, etc. That way, you’ll get certain perks such as negative balance protection and segregation of funds.

Warnings From Financial Regulators

Now it’s time to spice things up for Goldmar. We found four warnings issued against this phony broker.�

Goldmar Warning From Consob

Italy’s CONSOB, Spain’s CNMV, the Bank of Russia and Belgium’s FSMA all flagged Goldmar and its owner as fraudsters. Check out the warnings that will surely deter you from investing.

Overview of Goldmar’s Trading Platform

Did we expect to find a reliable and cutting-edge trading platform? No. Did we anticipate a poor browser-based platform? Yes, and that’s precisely what we got. Goldmar offers WebTrader and no other platform, which is pretty unsophisticated.

Goldmar’s WebTrader

Essentially, WebTrader is an online platform that’s pretty ineffective and lackluster. Aside from some basic charts and indicators, there’s not much else there.

In addition, Goldmar is unlicensed, so the validity of the platform is questionable. That’s always the case with these financial swindlers.

Trading From a Desktop or Mobile Device?

Since WebTrader is accessed via a browser, traders can use it on any device. Both desktop and mobile versions are available. Neither one is safe though.

In general, mobile versions are good for trading on the go while desktop versions are better for a more calculated approach.

What Financial Instruments Does Goldmar Include?

Here’s a quick overview of the available trading assets with a couple of examples for each:

  • Forex pairs – EUR/USD, CAD/AUD, GBP/NZD…
  • Indices – NASDAQ100, GER30, US100…
  • Commodities – crude oil, natural gas, coffee…
  • Shares – Google, Bank of America, BMW…
  • Crypto – BTC, ETH, BNB…

We won’t lie, the list is pretty good. However, it’s meant to be enticing. Don’t forget that Goldmar is not licensed to provide financial market services.

Areas Of Goldmar’s Scam

We decided to do some additional research on this scam. It’s important to discover where Goldmar engages in its fraudulent activities in order to warn traders and alert regulators.

  • Canada;
  • Poland;
  • Germany;
  • Spain;
  • Australia;
  • Croatia.

If you have any useful information about this scheme, please share it. Only one regulator from this list has issued a warning against Goldmar, which is not enough.

Furthermore, we strongly advise you not to invest in the bogus brokers Bitcoin Convert, CoreGeneric Capital, and SevenSeasFX. If you want to save money, don’t trade with these unlicensed brokers!

Goldmar And The Types Of Accounts Offered

Goldmar And The Types Of Accounts

According to Goldmar’s website, there are three different account types available:

  • Beginner – minimum deposit of 250 EUR;
  • Premium – 2,500 EUR;
  • Business – 25,000 EUR.

As you can see, the price of each subsequent type is 10 times higher than the last. All the aforementioned instruments are available with every type.

When it comes to trading conditions, i.e. leverage, spreads and commissions, the illicit broker promises very tight spreads (0.1-0.5 pips), no commissions, and leverage ranging from 1:100-1:500.

You instantly know you’re dealing with a scammer when it offers favorable spreads without commissions. The extremely high leverage is a dead giveaway as well. The legal limit for retail clients ranges from 1:30 (UK, EU, AUS) to 1:50 (US, Canada).

Goldmar’s Deposit and Withdrawal Policies

As mentioned, the minimum deposit that Goldmar requires is 250 EUR. If you ask us, it’s simply too much to risk with such an uncertain broker.

The funding methods that Goldmar accepts include credit/debit cards and wire transfers. Allegedly, withdrawals take up to 4-7 business days. Fees weren’t disclosed but we believe they exist.

Goldmar’s Deposit Bonuses

Of course, we have pesky bonuses. Goldmar, like most scammers, included bonuses and a shady clause behind them. There’s a reason why bonuses are banned.�

Precisely because of conditions like this one – traders are required to make an insane volume before being able to withdraw funds.

Goldmar’s Deposit Bonuses

Goldmar Scammed You? – Please Tell Us Your Story

There’s no doubt that this is a foul online investment scam. As such, it’s tempting and we understand why you may have fallen victim to it.

Nevertheless, we’re here to offer you help in getting your money back. Consider requesting a chargeback. Book a consultation with us so we can go through the process together.

What Is the Chargeback Procedure?

  • For credit/debit card transactions, clients can request a chargeback to reverse them.
  • A chargeback is performed by the issuing bank within 540 days.
  • If you’ve deposited money via wire transfer, you’ll need a recall.
  • A recall is only possible if the transaction hasn’t gone through yet.

Contact us today and start your chargeback process.

What Is Goldmar?

A dubious offshore scam broker from Saint Vincent and the Grenadines.

Is Goldmar a Scam Broker?

Yes. Aside from being unlicensed, the fraudster has also been blacklisted by four authorities.

Is Goldmar Available in the US or the UK?

According to the registration page, UK traders are accepted but the ones from the US are not.

Does Goldmar Offer a Demo Account?

No. There is no free demo account available on the website.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied