GstRel

GstRel is a messy broker. It’s one of those that offer flashy information on their website, most of which is completely misleading. See where we’re getting at?

GstRel claims to be regulated by the GSC on the Isle Of Man. GSC stands for the Gambling Supervision Commission, which as as the name conveys, regulates land-based gambling operation, but not online forex brokers. Yet, the contact in the footer gives away an address in New York. It’s these two things that staple GstRel as an UNLICENSED brokerage firm, making it a risk to all investments.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

This broker is a complete mess, with a website that does not function properly, and a client area that offers no access to a trading platform meaning that there is no need to talk about a spread, a leverage, or trading assets, for there is no platform to which to apply them to.

The languages made available are English, French, Arabic, German, Spanish, and Portuguese.

GSTREL LOGIN

As mentioned the broker has simply decided not to offer a trading terminal, making it not only unregulated, but also lazy and not even a proper broker.
The Client Dashboard offers three simple options: to deposit, to see withdrawal earning, and to change the basic account info. There is nothing else left.

However, on the Home Page, the broker gives away a binary options trading platform, conveying that GSTREL is actually a binary options broker, yet on the client area we had no way to access this small platform.

GSTREL MINIMUM DEPOSIT

The client portal gives us the following depositing methods: Bitcoin, Etherium, MoneyGram, and WesternUnion.

We could not proceed to making a deposit. A user first must make a payment order, which we did and got no results thereafter. Furthermore, a minimum deposit from the website texts we could not gather either. So a minimum deposit sum is not available.

Nevertheless, we would not deposit with this one if we were you. This broker is clearly not legitimate and not regulated, meaning that who knows what they will do with your investment. Traders should deal exclusively with brokers regulated by exemplary agencies such as the FCA or CySEC, for they oversee a brokers activities from head to toe with a severe case of diligence.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

For safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Another novice mistake that has been numerously repeated and taken advantage of is providing access to your computer and bank account via AnyDesk or TeamViewer. These two softwares allow for others (in our case the people behind the shady brokerage) to log-in to your PC and flip through all files and browsers, essentially taking over your computer as another user and having access to your personal information like bank account passwords, credit card information etc. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

GSTREL WITHDRAWAL TIME AND FEES

The only info on withdrawal, that we found, was at the FAQ section. There is says that the minimum withdrawal amount is 70% of the traded account, whatever that means

Withdrawal requests are processed within 48 hours, as per the FAQs.

It does not say if there are withdrawal fee, but seeing as this broker will most certainly never give back your deposit, there isn’t a prerequisite for withdrawal fees.

ADDITIONAL FEES AND TAXES

If an account is dormant for 36 months, the broker will charge you with $30 per month until the account becomes active again:

There are no additional fees worth mentioning in any of the Legal Documents. Don’t let this soften you up. Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. 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

GstRel doesn’t require ID or proof of address for depositing, but be warned that once you start requesting for a withdrawal they will suddenly raise the question and demand these from you. They will use this to build a stronger case against you in the event that you request a chargeback.

Best to completely avoid this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a charge back with you credit card company.

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.

Victimized traders will have their guards down looking for every opportunity to get their money back. This is where the fake recovery agents come in, seeing an opportunity in your desperateness. First of all, they will promise to recover all your money, but they will ask a fee to cover their services. Once this fee is paid rest assured that you will never again hear from them

The last line of defense 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

GstRel is not a broker, but a messy and quite frankly, ugly website that tries to lure you to deposit money in return for absolutely nothing. Do not invest here!