Global Market Index Limited is a contract-for-difference (CFD) broker whose official website domain was registered on April 27, 2024. This broker primarily offers investment services in markets including forex, commodities, stocks, and indices, and does not provide services to countries and regions where doing so might violate local laws or regulations.
Company Registration Information and Regulatory Status
According to its official website (www.gmigldgodfx.com), Global Market Index Limited claims to be a financial services institution regulated by the Vanuatu Financial Services Commission (VFSC), offering various trading products such as forex currency pairs, CFDs, commodities, and indices.
Upon verification, Global Market Index Limited was not found on the list of licensed brokers by the Vanuatu Financial Services Commission (VFSC). Hence, Global Market Index Limited (www.gmigldgodfx.com) appears to be engaging in false advertising and is actually an unregulated scam broker website.
Account Opening Process
To open a trading account with Global Market Index Limited, visit their official website, click on "Open an account" to navigate to the registration page, fill in personal information such as name and email address, and set a login password as required. The broker will then send a verification code to the email provided. Enter the verification code and submit it. After the account is verified, registration will be successful.
Trading Accounts
Global Market Index Limited offers two types of trading accounts: a standard user account and a partner account.
Standard User Account:
- Leverage: 1:100 (forex, stocks, indices), 1:500 (commodities)
- Trading Instruments: 52 currency pairs, 12 stocks, 120 global indices, gold, oil, silver, and others
- Variable spreads
- Demo account availability
Partner Account:
- Commission for LKLEE ECN accounts is 2 pips per currency pair.
- Commission for LKLEE standard variable/fixed accounts is 5 pips per currency pair.
- Commissions are only paid to ECN, standard VAR, and standard Fix accounts.
- When the balance is below zero, bonuses can be used for trading but no rebates can be earned from these trades.
- The difference between the open and close prices must be at least 10 pips.
- The interval between opening and closing a trade should be at least 1 minute.
- Rebates are credited to the account once every 24 hours.
- Commissions are credited to the partner account and can be withdrawn using any available payment method after the partner introduces at least 3 active trading clients.
- No commissions are granted for accounts with no deposit bonuses.
Trading Platform
Global Market Index Limited offers the MT5 trading platform for both desktop and mobile. However, information about this broker cannot be found on the MT5 platform.
Deposits and Withdrawals
Global Market Index Limited has not clearly disclosed on its website the supported methods for deposits and withdrawals, the associated fees, or the minimum deposit/withdrawal amounts.
Summary:
Traderknows reminds investors that Global Market Index Limited is actually an unregulated scam broker website. Investors are advised to choose brokers with transparent information, strong regulation, and a good reputation to avoid unnecessary financial losses.
Currently, this broker is marked as "Suspected Fraud" on Traderknows.
