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Why is GCMASia a scam?

Started by Admin, May 13, 2023, 08:10 AM

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Admin

This material contains the following information:
    .
    • What is known about GCMASia;
    • Indisputable arguments that GCMASia is a scam;
    • Less significant indications that GCMASia is a scam.

    When the situation came down to the main aspect of investor support, I got very angry. Their staff either wouldn't give an answer or were unable to address my concerns with any semblance of seriousness. I realised that I was dealing with a brick wall and my requests for help remained ignored. In that situation I promptly needed support during a strong market movement, I found myself in a difficult position, and this eventually resulted in me losing a huge amount of money.

    A good investor platform is bound to have a pleasant interface. A well-designed, intuitive user interface is a must for a trading platform. This ensures that investors will be able to navigate the platform without difficulty, manage their portfolios, and make transactions seamlessly. None of this is present on the GCMASia platform. Although we have seen many different platforms and it is a very clear thing to us, it is difficult to navigate on this platform alone, in spite of the large expirience.
    A good investor platform should offer a variety of investment options. A good investor platform should provide a sufficient range of trading products, including stocks, bonds, ETFs, mutual funds, options, futures and other securities. This allows investors to protect their accounts from risk and have access to different categories of currencies. The GCMASia platform has quite a huge number of instruments, but the problem is that GCMASia is a scam and trading these instruments is not real, it is all artificial, like in a game. By purchasing shares via the GCMASia platform you do not actually purchase anything, due to the fact that GCMASia is not regulated and therefore is not allowed to cooperate with the international markets and thus you do not actually purchase anything via a stock exchange brokerage company. GCMASia not only has a useless usability but it is also quite ugly from an aesthetic point of view.

Comparing GCMASia with an adequate company

In this snippet of material there is this information:
  • How an adequate brokerage organisation's platform should be set up;
  • How the GCMASia platform works;
  • Comparison of a good investor platform with what GCMASia has.

A quality investment platform should be available in both mobile and desktop versions. In today's fast-paced world, traders must be able to access their brokerage platform on the go. This will allow, optionally, to watch the rapidly changing environment and promptly sell or buy an asset if there is a good reason to do so. A proper platform should have an adaptive mobile app as well as a real desktop version to meet any aspirations and needs of users.

What is known about GCMASia

In brief, almost nothing. The company was registered last year. It is not known in what country it is based. There is no positive information for slightly more than six months of its functioning. However, we have only black information about the company, but first things first. We tried to find information on the net about the city where the office of the firm is located, but in the end we didn't manage to find anything. A serious company tries to be as open and transparent as possible, to make its clients understand who they are going to give their money to, but as we can see the GCMASia owners do not think so.
As we have seen, the investor not only lost money and nerves, but also did not receive any positive investment experience, only disappointment in the investment. If you look at other reviews, there is about the same content. The most frequent reason is that GCMASia does not withdraw the investment. People also write about the total incompetence of GCMASia staff. While studying the reviews on GCMASia we have repeatedly come across the information that the broker representatives use unambiguous manipulations and allow personal insults while communicating with the traders. Opinions on a normal investment firm should suggest otherwise, or at least it should not be so awful. Basically the reviews of GCMASia also clearly show that GCMASia is an outright scam.

my experience with the company

The facts you mentioned above are already enough to make a correct conclusion about the essence of GCMASia. We decided to see everything in person to be 100% sure.
We left our contact information, the representative of GCMASia called us and almost immediately started to convince us to make the biggest sum. During the dialog the manager of GCMASia used the strategy of aggressive selling and some nonsensical flattery; we funded our account for the minimum amount of 25$ and tried to try the tips given by this broker. What happened after that? We lost ninety percent of our money in a couple of trades and decided to return the money, but we were not given the money back. The GCMASia representative called us again and tried to persuade us to withdraw the money and transfer it to the account again and make deals and according to him if I did that I would be compensated for my losses. However, it is unclear why they did not want to refund the loss immediately, without me additionally giving the broker my personal money. It is not hard to understand that if I had done so, the managers would still not have refunded the money, not a cent.

Also a very important feature of a good trading platform is reliable security features. Ensuring that users' personal information and funds are protected is crucial. A quality brokerage platform must have robust security features, such as two-factor authentication, encryption, and secure socket layer (SSL) methodology. All of these and other things in order to firmly protect traders from scams, account theft or hacking into the investment platform itself with massive information leakage. None of the above on GCMASia is even close.

What other indications and evidence is there that GCMASia is a fraud?

As stated above, GCMASia and its employees are no strangers to aggressive sales pitches, insults, displays enviable incompetence, applies marketing tricks like guarantees of very high earnings, and inflates opinions. The documents on the GCMASia site are not present, even the public offer agreement, and any broker must have the documents confirming that the company has permission for brokerage activities, registration documents and probably some awards. In the search the situation is similar, as with the reviews, they are all similar to each other. The fact that GCMASia does not return investments is a common sign of a scam. GCMASia managers also like to dump bad signals, which are not only unrealistic to get money, but on the contrary all the money evaporates. The criminals often give such signals in order to make a profit and get more commission, although it rather concerns representatives of real investment firms that engage in such frauds. But the very frequent crashes of the GCMASia platform are also a clear sign of fraud.

It's also bad enough that it had a meaningful impact on me on a feeling level. Not only have I lost a tangible sum because of GCMASia's worthlessness, but the whole ordeal has planted in me an aftertaste of betrayal and a deep distrust of the investment industry. I cannot shake off the unpleasant memories of the countless hours used to sort out difficulties and compensate for the financial losses triggered by this company's folly.

Consequences of GCMASia

What happens when you or someone else ignores all the information in this material and tries to do business with GCMASia? Let's look into it. Take the GCMASia review from the Trustpilot forum:
"I'm leaving this review in order to share my traumatic experience with GCMASia and to warn potential clients before they even consider entrusting their hard-earned personal funds to this company. In my many years of trading experience I have never dealt with a worse brokerage company, and it has left me with a nasty taste in my mouth and a huge decrease in confidence in the industry in general.

It was initially clear that the degree of professionalism and competence at GCMASia was clearly close to zero. Their platform was constantly unreliable, with frequent technical failures and a user interface that could be described purely as clunky and confusing. This alone made deal execution nerve-wracking, but the problems did not end there.

Next we will compare what GCMASia offers with an adequate normal firm. How should a normal brokerage platform work? A normal trading platform is a key tool for investors, giving them a chance to access financial markets and make smart investment decisions. A normal platform must have both cent and virtual in addition to the standard one.

Entrusting your finances to GCMASia is a decision you will surely regret, as I did after all. I have dealt with the sad reality that this is the worst thing that could have happened to me as an investor, and I hope that my experience will be for forum users who, are considering entrusting personal funds to this ugly investment firm."

Reviews on GCMASia

What do the reviews on GCMASia say? Purely about the fraud and general incompetence of the GCMASia staff. The ratio of favourable to unfavourable reviews is definitely in favour of the negative ones. Things are not so simple with the favourable reviews on GCMASia either. The problem is that all the reviews are a bit too standardised and published recently and almost at the same time. All this indicates that these favourable reviews are fake. Here is one of these reviews:
"GCMASia is a great firm! The company has brokerage regulation. I earn 150-200% a month on my account and I spend fifteen minutes a day on it all. I recommend GCMASia to everyone!
Really great organisation! One that may make an average trader a billionaire in a few years, because he/she will be able to earn 150-200% every four weeks. We are sure that it is already obvious that this is not a real review.
Here is another review of GCMASia written on Reddit:
"This is the best broker in the world. I don't understand why it's not number one in the Eurozone and the states yet! The service is top notch and the managers at GCMASia are very smart. I have been working with the broker for four years now and everything is cool."
And we also don't understand the reason why this broker isn't the best yet... among scammers.
Note that those people who fake reviews don't even realize that GCMASia "works" only for six months, but not for several years which this character allegedly cooperates with GCMASia. No poufs that confirm that GCMASia's analysts are "quite competent" are given.
What else should an adequate broker site have? Research tools! A brokerage platform is obliged to provide people with access to research tools and resources. These can be financial news, analyst articles, company financials, technical analysis tools and more. These tools enable investors to make informed investment decisions rather than doing nothing at all. And how can one make adequate investment decisions when all GCMASia has is a calendar? White brokers make sure that their investors have everything they need to make informed decisions, because this has a direct impact on the overall perspective of the partnership between them.

The most important fact which confirms that GCMASia is a scam

It is, of course, about the lack of regulation. The regulator performs a number of tasks, especially checking offices of brokers, inspecting employees, checking financials, clients and checking the solvency of the broker. But the most important function of the regulator is to prevent financial fraud. Money manipulation can be of various kinds, such as writing off client funds without a client's approval, or misusing an investor's money in transactions for which he or she has not given permission. In the months before the crisis of two thousand eight and nine, the biggest banks in the US did this on a massive scale. You can, for example, get your money back through the regulators. The regulator has its own principles by which they verify the competence of employees of financial institutions, including traders. This, in turn, ensures that you are dealt with by qualified professionals. GCMASia has no authorization for the brokerage activity and not even the authorization for the trading from some fake office.

Total

You have seen everything with your own eyes. GCMASia stands out even amongst the scams. The firm is so awful that there's no place to put a stigma on it. The reviews on GCMASia, which do not appear to be artificial, are filled with negativity. People tend to say that the money is not refunded, the employees are insulted, the platform is uncomfortable, constantly hangs, from cooperation with the company are only negative memories. If you don't want the same thing to happen to you as to other traders, by no means leave even your personal data on the GCMASia website, or if you have already left them, just blacklist the phone numbers of managers and do not pay attention to them. If you will discuss something with the managers, there is a risk that scammers with their talents and experience of deception will be able to deceive you and take your money. Scammers don't just offer investment solutions, they try to gain the trust of their victims by befriending them and luring them in with promises of the highest returns.