Originally Syndicated on June 13, 2024 @ 5:44 am
Gulf Brokers DMCC is the name of a broker located in Dubai, United Arab Emirates. The company has obtained a license from the Securities and Commodities Authority and is also a corporate member of the DGCX (Dubai Gold and Commodities Exchange).
Please find their contact number at +971 42 42 4120, and their office address at Gulf Brokers DMCC, Office no. 905, the Palladium Tower, Cluster C, JLT Dubai, UAE. This broker’s website is very easy to navigate. There are no standout bargains.
Furthermore, there appears to be a lack of incentives for users to create an account on their platform, which raises suspicions. Additionally, the company consistently emphasizes its licensing from the SCA and its role as a broker for the Dubai Gold and Commodities Exchange.
Gulf Brokers DMCC Lacks Valuable Information
You can find a comprehensive list of the advantages Gulf Brokers DMCC offers to its clients on its website. However, the benefits they provide are the minimum you can expect from a forex broker located in the UAE. The company emphasizes its commitment to providing fast trade execution and 24/7 customer service. Isn’t that a common offering among all forex brokers?
They claim to offer additional benefits such as safeguarding your money and ensuring regulatory oversight by the SCA. I have completed my task. The business does not offer any attractive trading terms or promotions to entice customers. The trading conditions website of Gulf Brokers DMCC also highlights the same four benefits.
The company states in its legal documents that it has the authority to bill you for the various services it provides. However, the specific amount of this fee remains uncertain. Furthermore, Gulf Brokers DMCC fails to provide clear details regarding the services it would charge for.
The only positive aspect of Gulf Brokers DMCC is the fact that it has a SCA license. Unfortunately, that is not enough to establish the broker’s credibility.
Can Gulf Brokers DMCC be trusted?
The owners of this business seem to have questionable intentions, evident from the lackluster and uninformative nature of their website, as well as their tendency to withhold important information from customers.
This broker seems to be exploiting the potential of the mostly untapped market in the Middle East. The business fails to highlight any unique qualities that distinguish it from its competitors. Maybe because it doesn’t have any. In addition, it fails to provide any information regarding its pricing and remains silent on the specifics of its trading terms.
It is advisable to minimize your involvement with Gulf Brokers DMCC. There are plenty of other brokers available in the UAE, so you don’t have to stick with the worst one.
Unveiling Gulf Brokers DMCC
The OffshoreLeaks investigation uncovers the activities of organized crime networks, such as Gulf Brokers DMCC, responsible for multiple fraudulent schemes targeting investors in countries such as India, Cambodia, Indonesia, and others. These networks are based in the UAE.
It took nearly a year for OffshoreLeaks to expose the fraudulent activities of Gulf Brokers DMCC. The extensive research involved collecting all relevant information about Gulf Brokers DMCC, its affiliated companies, and the individuals involved through thorough examination of numerous documents and conversations with multiple reliable sources.
Since 2018, this network of organized criminals has been involved in various trading fraud schemes that have had a significant impact on multiple nations, resulting in substantial financial losses and loss of life.
Unfortunately, in many cases, individuals are left with no choice but to accept the financial loss they have experienced. Gulf Brokers DMCC focuses on attracting investors from South-East Asia, Africa, and countries where brokers are not commonly registered. Gulf Brokers DMCC is a company registered in Seychelles with limited liability. Considering a trip to Seychelles? Me neither.
This suggests that your money is not assured, regulated, or protected by the government. You are transferring funds to an offshore account and relying on their investment expertise. They don’t, and we have the evidence to prove it.
OffshoreLeaks has recently uncovered the identities of the individuals leading this group and possesses extensive records of their criminal history, along with detailed personal information about their close connections. This information includes specifics such as their preferred vehicles, frequented restaurants, and romantic partners. We are disclosing all of this information, except for the images and names of the individuals.
This is because it is against the law unless OffshoreLeaks.com decides to release this information to the public.
Gulf Brokers DMCC Domain Analysis
Investigate whether Gulf Brokers DMCC is regulated and whether they are providing trading advice or investment opportunities, as this may potentially violate legal regulations.
These types of websites, commonly referred to as “HYIPs” (high-yield investment programs), have gained notoriety for deceiving consumers with grandiose claims and ultimately leaving them empty-handed.
Gulf Brokers DMCC seems to focus on attracting customers primarily in Europe and the USA by reaching out through phone calls and social media platforms such as TikTok and Instagram. Many phishing call centers are located in South India. The information will be disclosed in a report by OffshoreLeaks.com.
One of the associates involved in Gulf Brokers DMCC’s fraudulent operation is Copreus Pvt Ltd from Sri Lanka.
-Victoria Partners -ZPH Marketing
How does the scam work?
Aside from assessing the brokerage in advance using the information available on its website, having knowledge of how scams work is crucial in the trading industry. Here are the three standard steps:
You will be directed to a website where you need to provide your personal information, including your address, email address, and phone number, after clicking on an advertisement that claims to offer immediate financial gain. Once you’ve shared your personal information, brokers will give you a call and try to convince you to invest with them, promising great returns. After carefully considering their pitches, you decide to deposit an amount between $200 and $250. The scammers quickly pocket a substantial commission from this initial deposit.
Once they have finished with you, experienced con artists will begin to exert pressure on you to provide additional funds. They claim that it is the sole method to enhance your trading profits. It would be wise to reconsider your current situation and minimize any further losses by withdrawing your remaining funds.
Regrettably, individuals who engage in fraudulent activities do not consider such concepts. They will now attempt to persuade you to stay and not leave immediately. The reason behind this is quite evident: traders have a limited timeframe to request a chargeback from their bank and get a refund. The primary objective of the “recovery department” is to trick individuals into missing a crucial timeframe, ultimately destroying any possibility of reclaiming their funds.
Conclusion
Gulf Brokers DMCC attempts to present itself as trustworthy but fails to establish a sense of trustworthiness. They exaggerate their services and hide important selling terms. It would be preferable to find someone else since they don’t even provide details about their fees.
