Gulf Brokers DMCC is Being Investigated: Find Out Why (2024)

gulf Brokersdmcc

Gulf Brokers DMCC makes an effort to appear trustworthy, but it does little to win your confidence. They make exaggerated claims about their services while concealing all of their sales terms. Finding someone else would be preferable, as they do not even disclose their fees.

Gulf Brokers DMCC

Gulf Brokers DMCC is a brokerage firm based in Dubai, UAE. It has a Securities and Commodities Authority license and is a corporate member of the Dubai Gold and Commodities Exchange (DGCX).

Their phone number is +971 42 42 4120, and their address is Gulf Brokers DMCC, Office No. 905, Palladium Tower, Cluster C, JLT Dubai, UAE. This broker’s website is straightforward. There are no standout bargains. Furthermore, nothing on their platform appears to encourage consumers to sign up, which is extremely suspicious. Furthermore, the company regularly says that it has a SCA license and works as a broker for the Dubai Gold and Commodities Exchange.

Gulf Brokers DMCC Has No Useful Details

On its website, Gulf Brokers DMCC presents an outline of the benefits it offers to its clients. However, the benefits they provide are the least you should expect from a forex broker based in the UAE. The organization claims to provide 24-hour customer support and speedy deal execution. Doesn’t every forex broker provide this to their clients?

Other benefits they claim to offer include financial protection and SCA regulatory control. I am done now. There are no appealing trading terms or promotions supplied by the company to attract clients. The same four benefits are provided again on the Gulf Brokers DMCC trading conditions website.

The company specifies in its legal documents that it reserves the right to charge you for the different services it provides. However, it is unknown how much this cost would be. Furthermore, Gulf Brokers DMCC fails to explain the types of services for which it would charge.

The only positive thing to mention about Gulf Brokers DMCC is that company has a SCA license. Unfortunately, this is insufficient to demonstrate the broker’s reputation.

Is Gulf Brokers DMCC Trustworthy?

The founders of this company have evil intents, judging by how monotonous and pointless their website is and how much information they keep from clients.

This broker looks to be a hoax attempting to take advantage of the Middle East’s mostly unexplored markets. The company makes no attempt to highlight any features that distinguish it from the competition. Perhaps because it doesn’t have any. It also withholds all cost information and does not disclose any business terms.

All of this advises that you limit your use of Gulf Brokers DMCC. You do not have to continue working with the worst UAE broker when there are several alternatives accessible.

Exposing Gulf Brokers DMCC

The OffshoreLeaks investigation shows organized criminal networks, like Gulf Brokers DMCC, that are responsible for a number of scams perpetrated against investors in countries such as India, Cambodia, and Indonesia while operating out of the UAE.

Gulf Brokers DMCC

OffshoreLeaks needed nearly a year to expose the Gulf Brokers DMCC fraud. The time-consuming study meant looking over hundreds of documents and speaking with dozens of credible sources to learn everything there was to know about Gulf Brokers DMCC, its sister firms, and their operators.

Since 2018, this network of organized criminals has been responsible for several trading fraud schemes that have impacted several countries, wiping out millions of dollars each month and killing thousands of people.

Most of the time, victims have no other option but to accept the loss of their money. Gulf Brokers DMCC primarily targets investors in South-East Asia, Africa, and countries where brokers are not generally registered. Gulf Brokers DMCC is a Seychelles-registered limited liability corporation. A visit to the Seychelles? Neither do I.

This means that your money is not guaranteed, controlled, or protected by the government. You’re sending money to an offshore account and putting your trust in their investing decisions. They don’t, and we’ll show you the receipts.

OffshoreLeaks recently identified the gang’s leaders and has a complete record of their criminal history as well as detailed personal information on all of their key associates, including the types of cars they drive, the restaurants they frequent, and the individuals they date. Except for the photographs and names of the individuals, we are revealing all of the information. This is because it is illegal until OffshoreLeaks.com makes the information available to the public.

Check if Gulf Brokers DMCC is regulated and if they provide trading or financial advice, as this may violate the law.

The phrase “HYIPs” (high-yield investment programs) refers to websites that are well-known for scamming clients out of their money by making grandiose claims but delivering nothing.

Gulf Brokers DMCC appears to target customers primarily in Europe and the United States using phone calls and social media posts on platforms such as Tiktok and Instagram. The majority of phishing call centers are in South India. The material will be made public in an OffshoreLeaks.com article.

Gulf Brokers DMCC’s fraud scheme involved several associates, including Copreus Pvt Ltd from Sri Lanka.

Victoria Partners – ZPH Marketing.

How does the fraud work?

In addition to evaluating the brokerage based on the information supplied on its website, understanding how a scam works is useful in the trading arena. The normal three steps are as follows.

When you click on an advertisement promising fast money, you will be directed to a website where you must register and provide your address, email address, and phone number. After revealing your personal information, brokers will call you and encourage you to invest with them so you can make a fortune. After hearing their pitches for a while, you decide to deposit $200-250. The scammers quickly take a large fee on the initial deposit.

Once they’ve finished with you, senior con artists begin asking you to provide additional money. They claim that this is the only way to increase your trading profits. You’ll want to get out of this and withdraw your remaining funds after making the mistake of investing even more.

Unfortunately, con artists don’t think in these terms. They will now try to persuade you to stick it out and not go right away. The motive is very obvious: traders have a limited amount of time to file a chargeback with their bank and recover their money back. The “recovery department”‘s main objective is to trick you into missing this critical window of time, destroying any chance you might have of getting your money back.

Conclusion

Gulf Brokers DMCC makes an effort to appear trustworthy, but it does little to win your confidence. They make exaggerated claims about their services while concealing all of their sales terms. Finding someone else would be preferable, as they do not even disclose their fees.

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