Grand Union Markets
1/5
Grand Union Markets Details
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Grand Union Markets looks like your common broker, never raising the bar. This is not a bad thing, however this particular brokerage firm had us asking questions earlier on, which led to the following review.
The website alleges it is located in Honk Kong, holding a registration there, which should also put it under the local financial regulator.
Hong Kong is one the financial hubs of the world, which immediately puts an aura of great importance and gravity for any broker that is regulated there, or claims to be. The official regulator of the forex market in Hong Kong is the Hong Kong Securities and Futures Commission (SFC), which also oversees the Hong Kong Stock Exchange. Abiding by the SFC's rules is no easy task; brokers under its wing must hold a minimum paid-up capital of at least 5 million HKD ($645k USD), as well as be an active participant in the Investor Compensation Fund which insures all users of up to 150 000 HKD should a broker fall into insolvency. However, this compensation fund covers only trading and futures and securities contracts.
As most regulatory agencies have it, so does the SFC have an official online database of all its regulated brokers, and other entities. We went in to check for both the broker's name and it's holding company name, Sky Tech Solutions Ltd, and did not find any results. This means that the broker does not hold a license from the Hong Kong Securities and Futures Commission. Furthermore, there is no info that the broker is a holder of another type of regulation.
Thus, we are left with the conclusion that Grand Union Markets is UNREGULATED, and as such is a risk to any investment.
We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
The registration process was simple enough, but the broker has to approve an account for the user to use the very lacklustre client dashboard. For now, we can only look without touching, and we are certain that Grand Union Markets will never approve us because we will not give in to its scammer schemes.
Needless to say, without a registration all info on trading conditions is entrusted onto the unlicensed broker. It goes without saying that it cannot be trusted. And it shows. The Account page reveals that the average spread for the EUR/USD spread on the Bronze account is 2.8 pips, a value not in any way profitable for the user. The leverage is capped at 1:300, or so it says. Finally, we have the supposed trading conditions: Currency Pairs, Commodities, Indices, Futures, and Shares.
Users are given English, Italian, Russian,and German as languages in which the website can be translated.
GRAND UNION MARKETS LOGIN
We confirm that the MT4 platforms has been granted to Grand Union Markets, somehow. However, the trading conditions it holds are not within reach.
The MT4 should never be doubted, for it has achieved the highest status a trading platform can wish for in the world of forex. A solid portion of the brokers still hold this as their most trustworthy terminal for reasons that will exhaust our writing capabilities. Here as some of the main ones: multiple time frames, pending order types, over 500 customizable trading indications, trades in centralized markets, and Expert Advisors.
GRAND UNION MARKETS MINIMUM DEPOSIT
According to the details on the website, a user can deposit via Credit/ Debit cards and Wire Transfer, with a minimum requirement of $250.
Due to he broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
GRAND UNION MARKETS WITHDRAWAL TIME AND FEES
Withdrawals are processed “within the first 30 days of an account being opened”, what ever that means. What happens if one wishes to withdraw after 3 months? Best not try and answer this question… However, it does say further down in the Terms and Conditions that the processing times are up to 3 days. There are withdrawal fees.
ADDITIONAL FEES AND TAXES
There are no real eye-opening clauses that are worth mentioning. However, we must caution users that unregulated brokers can be remorseless by launching unsuspecting fees. Any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
ACCOUNT VERIFICATION
We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
Filing for a charge back is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.
Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defence for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
BOTTOM LINE
There is literally no incentive for anyone to invest in Grand Union Markets. This unlicensed broker should be avoided at all cost.
Grand Union Markets compared to other brands
Brand
Rating
Bonus
Min Deposit
Company
Country
Grand Union Markets
1/5
-
$250
N/A
ForexTime
4/5
Copy trading
$10
United Kingdom, Cyprus, South Africa, Mauritius
OctaFX
4/5
50% Bonus
$50
Cyprus, Saint Vincent and the Grenadines
David Bottomley
Grand Union Markets, definitely avoid them, have requested the return of my small deposit, they tell yoi to contact your broker, the phones disconnect as soon as they’re answered, they’re emails come back as domain unknown, if you put a negative review on trustpilot, it is quickly removed, avoid these filthy scum like the plague, I have told my bank and cancelled the credit card.
Raymond jenkins
i also have been conned by the Grand Union Market,i would not put any
more money into it,ie 10k slight argument but stood my ground
and insisted no more money,The system was change put me on some duff
company and watch my money disappeared phoned my 2 managers,texed,emailed
no joy complete scam.unable to get my deposit back I can use some
inappropriate language to describe this shower of con merchants
Regards
Ray Jenkins
Colm McGurk
Grand Union Markets are scam artists!! They have you invest more and more and then trap you when you want to withdraw! Please do not invest – these people are smart but very dishonest people!!
MHA Rafioeddin
I am a niewe klant from Grand Union Markets since 3 juni 2020, i have already paid a deposit of 250 euros.
My Grand Union Markets MT4 login number is 2109499348. i couldnt contact with grand Union markets for trade or for asking the information. Therefore I want to ask how can I contact Grand Union markets so I can ask the information how i can get my deposit back. I want to trade but no one at Grand Union has contacted me or provided information.
Please help me how I could back my litle deposit,
Thank you for help in advance.
Rosa Maria Am
Due to serious illness I wanted to cancell my account at Grand Union Market. Never could reach anyone, seems my money is lost. My advice: Never start business with them!
someone
I am still waiting for them to return my money.
AVOID them
…
Robert Maier
Grand Union Markets – Hong Kong or London Investment Fraud?
The apparent online broker Grand Union Markets poses as an impeccable market participant for online trading. However, there is ample evidence that things are not right at Grand Union Markets. Reports from traders about Grand Union Markets are gathering, talking about telephone terror, rip-offs and investment fraud. The traders have lost all of their money wagered on Grand Union Markets. Doubts are spreading. Meanwhile, many investors in Grand Union Markets fear that it is an investment fraud. The Grand Union Markets website is no longer accessible. All Grand Union Markets investors wonder whether they have been the victims of investment fraud? And what can the traders of the Grand Union Markets do if the suspicion of investment fraud is confirmed? Will Grand Union Markets Investors Get Their Money Back? Does it make sense to file a criminal complaint against Grand Union Markets with the police? Where can I get help with investment fraud?
Grand Union Markets: Unfounded promises on Gum-markets.com!
What is presented to the surprised interested parties on the Grand Union Markets website? “Grand Union Markets is an international brokerage company that relies on trust, reliability and innovation. We provide a safe trading platform for both novice and experienced traders in the global market. From a dedicated support service to a powerful trading platform, we promise everything you will ever need to become a successful trader. What are you waiting for? Open an account with Grand Union Markets and feel the difference today. ” This is just a small part of the exaggerated promises investors find on the Grand Union Markets website. Not one of these full-bodied assertions from Grand Union Markets was kept. Disappointingly, the suspicious business practices only lead to deceived investors and miserable experiences!
Grand Union Markets: hide and seek when registering a domain!
What is remarkable for the business practices of the Grand Union Markets makers is that the website does not contain any imprint with complete information on the legally responsible operators of the website. However, this is a legal obligation for companies that address customers directly in the German market. The operator of the website is therefore legally obliged to provide a summons address for the owner of the website in the imprint. If these minimum requirements of the Telemedia Act are violated by the operator of a website, this is also a cause for concern. If you look at the corresponding domain data on the website http://www.gum-markets.com, you will not find any information about the operator and you will see that the website was only registered on 08/14/2020 and that the real domain owners are behind hide from the anonymization service provider Whoisprotection.cc. But that’s not all, the organizers of Grand Union Markets have already registered other websites, such as the website http://www.grandunion-system.com on July 3rd, 2020 and the website http: //www.gumarkets on August 13th, 2020. net. Can it be a coincidence?
Grand Union Markets: who is it?
Answering this question will be very difficult for many traders and investors, as the Grand Union Markets makers do everything to cover up the true circumstances. However, this is not unusual, as the perpetrators often operate various of these websites with the supposedly same business model and quickly get them online, but also switch them off again just as quickly. In many cases, the operator designation is often changed, possibly also to deceive the financial supervisory and law enforcement authorities.
Grand Union Markets: Who is the Operator?
If you examine the website http://www.gum-markets.com more closely, you will find the following information in the footer in mini font: “This site is owned and operated by Sky Tech Solutions Limited, Unit 1411, 14 / Floor, Cosco Tower, 183 Queen’s Road Central, Sheung Wan, Hong Kong. “Sky Tech Solutions Ltd? In Hong Kong? If you look at the address given, you will not find a company Sky Tech Solutions Ltd there, but a service provider who also offers so-called virtual offices, which are also often used by investment fraudsters from the cybertrading industry. And what about Sky Tech Solutions Ltd? You won’t find anything in the Hong Kong company register here. However, if you search worldwide, you will find a company Sky Tech Solutions Ltd in the English company register. This company Sky Tech Solutions Ltd was registered in 1997 with the company number 03430628 and deleted on 04/07/2020. And now? After all, you can find this information on the invoices for the traders:
● Grandunionmarkets LTD, Safe, Secure & amp; Convenient
● 32 London Bridge St, London, SE1 9SG
However, a company Grandunionmarkets Ltd is not listed in the English company register and whether the company Grandunionmarkets Ltd can be found on one of the 87 floors of the London skyscraper “The Shard” is highly doubtful. Investors must rightly ask themselves how the business practices of Grand Union Markets should be classified in this game of hide and seek? Is that serious or dubious? What judgment will investors come to?
Grand Union Markets: The customer acquisition of the investment fraudsters
The same procedure can be found here again and again: In order to win traders, the offers from Grand Union Markets are propagated in all conceivable media and channels. For example, advertising is placed in social media such as Facebook and other online media. Often these are false promises. In addition, they upload advertising films on YouTube in which interested investors are convinced with false references. Alleged celebrities report here, often with the erroneous reference to the TV program “Die Höhle der Löwen”, about their experiences with online trading and crypto currencies. However, this is an absolute fake in order to deceive unsuspecting investors. At the same time, a mostly aggressive affiliate program is started to encourage others to beat the drum for Grand Union Markets.
Grand Union Markets: Dubious Business Practices!
Cold calls are often made via dubious call centers; these are prohibited, anti-competitive advertising calls intended to lure investors. As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their many years of experience and their satisfied customer base. In many cases, however, the makers of this business model are suspected fraudsters, which the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) warn against. Does Mr. “Black” also belong to it? Usually the traders start with a small amount as a stake. Before that, investors are often motivated to install remote maintenance software such as AnyDesk or TeamViewer on their computers so that they can allegedly help with the first steps. In many cases, the computer is subsequently tampered with and unwanted transactions carried out. The investment fraudsters often gain access to the online banking of their victims. However, it is particularly dubious when supposed profits are displayed on the trading platform in order to seduce the customer into further high stakes. but how does it continue?
I was also cheated by GrandUnionMarkets, and I have been active at GUM since April 2020.
When it came to the disbursement in September, the disbursement of GUM was deliberately directed to a bottle bank link and you blamed me as a trader customer. The money is gone now and it will be difficult to get the money back. Only an external financial company will be able to get the money back, but they also charge high fees. Ultimately, GUM said the money is only paid out when the fees are paid. But the money was not paid out even after the fees had been paid. Then I was puzzled and realized that it was fraud. The whole time the broker tried to convince me with confidence that everything is serious and honest. You will make good profits with GUM. But the opposite was true, just cheating and riping off the money from customers as much as possible. Be careful with GUM, don’t invest money in GrandUnionMarkets. These scammers have to go to jail !!!
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Grand Union Markets – Anlagebetrug über Hongkong oder London?
Der scheinbare Online-Broker Grand Union Markets gibt sich als einwandfreier Marktteilnehmer für das Online-Trading aus. Es gibt jedoch zahlreiche Indizien, dass es bei Grand Union Markets nicht mit rechten Dingen zugeht. Es sammeln sich Berichte von Tradern über Grand Union Markets, in denen von Telefonterror, Abzocke und Anlagebetrug die Rede ist. Die Trader haben ihr gesamtes bei Grand Union Markets eingesetztes Geld verloren. Zweifel machen sich breit. Inzwischen haben viele Anleger der Grand Union Markets die Befürchtung, dass es sich um einen Anlagebetrug handelt. Die Webseite von Grand Union Markets ist nicht mehr erreichbar. Alle Anleger der Grand Union Markets fragen sich, ob sie Opfer eines Anlagebetrugs geworden sind? Und was können die Trader der Grand Union Markets tun, wenn sich der Verdacht des Anlagebetruges erhärtet? Werden die Anleger der Grand Union Markets ihr Geld zurückbekommen? Macht es Sinn, bei der Polizei eine Strafanzeige gegen Grand Union Markets zu erstatten? Wo gibt es Hilfe bei Anlagebetrug?
Grand Union Markets: Haltlose Versprechen auf Gum-markets.com!
Was wird den überraschten Interessenten auf der Website von Grand Union Markets da vorgesetzt? “Grand Union Markets ist ein internationales Brokerunternehmen, das auf Vertrauen, Zuverlässigkeit und Innovation setzt. Wir bieten eine sichere Handelsplattform für Anfänger und erfahrene Händler auf dem globalen Markt. Von einem engagierten Support-Service bis zu einer leistungsstarken Handelsplattform versprechen wir Ihnen alles, was Sie jemals brauchen werden, um ein erfolgreicher Trader zu werden. Worauf warten Sie noch? Eröffnen Sie ein Konto bei Grand Union Markets und spüren Sie den Unterschied noch heute.” Dies ist nur ein kleiner Teil der übertriebenen Versprechen, die Anleger auf der Webseite von Grand Union Markets finden. Nicht eine dieser vollmundigen Beteuerungen von Grand Union Markets wurde gehalten. Enttäuschenderweise sorgen die suspekten Geschäftspraktiken nur für betrogene Anleger und miserable Erfahrungen!
Grand Union Markets: Versteckspiel beim Domain-Eintrag!
Bemerkenswert für die Geschäftspraktiken der Grand Union Markets-Macher ist, dass die Website keinerlei Impressum mit vollständigen Angaben zu den rechtlich verantwortlichen Betreibern der Website enthält. Dies ist allerdings eine rechtliche Verpflichtung für Firmen, die sich direkt an Kunden auf dem deutschen Markt wenden. Mithin besteht für die Betreiber der Website die rechtliche Verpflichtung zur Mitteilung einer ladungsfähigen Anschrift des Inhabers der Website im Impressum. Werden diese Mindestanforderungen des Telemediengesetzes durch die Betreiber einer Website verletzt, ist auch dies ein Grund zur Besorgnis. Schaut man sich die entsprechenden Domaindaten der Website http://www.gum-markets.com an, so findet man dort keinen Hinweis auf die Betreiber und stellt fest, dass die Website erst am 14.08.2020 registriert wurde und sich die wirklichen Domaininhaber hinter dem Anonymisierungsdienstleister Whoisprotection.cc verstecken. Doch damit nicht genug, die Grand Union Markets-Macher haben bereits weitere Websites registriert, so am 03.07.2020 die Website http://www.grandunion-system.com und am 13.08.2020 die Website http://www.gumarkets.net. Kann das ein Zufall sein?
Grand Union Markets: Wer ist das?
Diese Frage zu beantworten, wird vielen Trader und Anlegern sehr schwer fallen, da die Grand Union Markets-Macher alles tun, um die wahren Verhältnisse zu verschleiern. Dies ist allerdings nicht ungewöhnlich, da die Täter häufig diverse dieser Websites mit dem vermeintlich gleichen Geschäftsmodell betreiben und diese schnell ins Netz bringen, aber auch genauso zügig wieder abschalten. Vielfach wird dabei auch die Betreiberbezeichnung häufig verändert, möglicherweise auch um die Finanzaufsichts- und Strafverfolgungsbehörden zu täuschen.
Grand Union Markets: Wer ist der Betreiber?
Untersucht man die Website http://www.gum-markets.com genauer, so findet man in der Fußzeile in Minischrift folgende Information: „This site is owned and operated by Sky Tech Solutions Limited, Unit 1411, 14/Floor, Cosco Tower, 183 Queen’s Road Central, Sheung Wan, Hong Kong.“ Sky Tech Solutions Ltd? In Hongkong? Schaut man sich die angegebene Anschrift an, so findet man dort keine Firma Sky Tech Solutions Ltd, allerdings einen Dienstleister, der auch sogenannte virtuelle Büros anbietet, die auch gern von Anlagebetrügern aus der Cybertrading-Branche zum Einsatz gebracht werden. Und die Firma Sky Tech Solutions Ltd? Hier wird man im Firmenregister Hongkongs nicht fündig. Allerdings findet man bei der weltweiten Suche eine Firma Sky Tech Solutions Ltd im englischen Firmenregister. Diese Firma Sky Tech Solutions Ltd wurde im Jahre 1997 mit der Firmennummer 03430628 eingetragen und am 07.04.2020 gelöscht. Und jetzt? Auf den Rechnungen für die Trader findet man immerhin diese Angaben:
● Grandunionmarkets LTD, Safe, Secure & Convenient
● 32 London Bridge St, London, SE1 9SG
Indes ist eine Firma Grandunionmarkets Ltd nicht im englischen Firmenregister verzeichnet und ob man die Firma Grandunionmarkets Ltd in einer der 87 Etagen des Londoner Wolkenkratzers „The Shard“ findet, ist stark zu bezweifeln. Anleger müssen sich zu Recht die Frage stellen, wie bei diesem Versteckspiel die Geschäftspraktiken von Grand Union Markets einzuordnen sind? Ist das seriös oder unseriös? Zu welchem Urteil werden die Anleger kommen?
Grand Union Markets: Die Kundenakquise der Anlagebetrüger
Hier findet sich immer wieder die gleiche Vorgehensweise: Um Trader zu gewinnen werden die Offerten von Grand Union Markets in allen nur denkbaren Medien und Kanälen propagiert. Es wird beispielsweise Werbung in den sozialen Medien, wie Facebook und anderen Onlinemedien geschaltet. Oft handelt es sich dabei um falsche Versprechen. Daneben laden sie Werbefilmchen auf Youtube hoch, in denen interessierte Anleger mit falschen Referenzen überzeugt werden. Hier berichten angeblich vermeintliche Prominente, gern auch unter dem irrigen Verweis auf die TV-Sendung „Die Höhle der Löwen“, über ihre Erfahrungen mit dem Onlinetrading und Kryptowährungen. Dies ist allerdings absoluter Fake, um nichtsahnende Anleger zu täuschen. Parallel wird ein meist aggressives Affiliate-Programm gestartet, um andere anzuspornen, die Werbetrommel für Grand Union Markets zu rühren.
Grand Union Markets: Unseriöse Geschäftspraktiken!
Häufig erfolgen auch über dubiose Callcenter Cold Calls, dabei handelt es sich um verbotene, wettbewerbswidrige Werbeanrufe, mit denen Anleger geködert werden sollen. Sobald sich der Kunde auf der Handelsplattform registriert hat, erhält er Anrufe von angeblichen Finanzbrokern, die gern auf ihre jahrelange Erfahrung und ihren zufriedenen Kundenstamm verweisen. Vielfach handelt es sich allerdings bei den Machern dieses Geschäftsmodells um mutmaßliche Betrüger, vor denen auch das Bundeskriminalamt und die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) warnen. Gehört Herr „Schwarz“ auch dazu? Meist starten die Trader mit einer kleinen Summe als Einsatz. Zuvor werden die Anleger auch vielfach motiviert, eine Fernwartungssoftware, wie AnyDesk oder TeamViewer auf ihren Computern zu installieren, damit angeblich Hilfestellung bei den ersten Schritten geleistet werden kann. In vielen Fällen wird der Computer im Nachgang manipuliert und unerwünschte Transaktionen durchgeführt. Dabei verschaffen sich die Anlagebetrüger auch häufig Zugriff auf das Onlinebanking ihrer Opfer. Besonders dubios ist dann allerdings, wenn auf der Handelsplattform vermeintliche Gewinne angezeigt werden, um den Kunden zu weiteren hohen Einsätzen zu verführen. Aber wie geht es weiter?
Auch Ich wurde betrogen von GrandUnionMarkets, war seit April 2020 aktiv bei GUM.
Wo es im September um die Auszahlung ging, wurde die Auszahlung von GUM vorsätzlich auf einen flaschen Banklink geleitet und Sie haben mir als Traderkunden die Schuld zugewiesen. Das Geld sei jetzt weg und es wird schwer werden das Geld wieder zurück zu bekommen. Nur durch ein externes Finanzunternehmnen wird es möglich sein, das Geld zurück zu bekommen, aber die verlangen auch hohe Gebühren. Letztendlich hat GUM gesagt das Geld wird nur ausbezahlt wenn die Gebühren bezahlt werden. Aber dass Geld wurde auch nach zahlen der Gebühren nicht ausbezahlt. Da wurde ich stutzig und habe gemerkt das es sich um Betrug handelt. Die ganze Zeit wurde mir mit Vertrauen vom Broker versucht einzureden, das alles seriös und ehrlich ist. Sie werden gute Gewinne mit GUM machen. Aber das Gegenteil war der Fall, Nur Betrug und Abzocke des Geldes vom Kunden soviel wie möglich. Seien Sie Vorsichtig bei GUM, kein Geld investieren bei GrandUnionMarkets. Diese Betrüger müssen ins Gefängsnis !!!