Gann Markets review – 5 things you should know about

Gann Markets review – 5 things you should know about

Beware! Gann Markets is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Gann Markets is Forex brokerage registered in Montenegro. It provides the MetaTrader4 platform and an extremely generous leverage. Traders are extended a leverage of up to 1:400 but the spread on EUR/USD is 1.8 pips which is a bit above the industry average. Furthermore, there is a wide range of trading products from which to choose and the required minimum deposit is $100 which is quite below the industry average and certainly an advantage for the brokerage.

Gann Markets regulation & safety of funds

Through the posted contact address we learn that the company behind Gann Markets is registered in Montenegro. It further claims to be regulated by The Financial Services Commission (IFSC) in Belize. Here is a screenshot:

Brokers operating in Belize have to be issued a licence by the International Financial Services Commission (IFSC). Among the requirements for guaranteeing legitimacy is having at least $500 000 in starting capital. A license by the IFSC is better than nothing but it does not carry the same weight in Forex trading as a license by the NFA in the US or the FCA in the United Kingdom.

However, going on the online registry of the regulatory agency we find no mention of the company’s name which leads us to conclude that the information presented on the website is faulty and that the brokerages does not fall under any regulatory oversight whatsoever.

The brokerage purports to provide the MetaTrader 4 trading platform and we were able to test it. We saw a floating spread of about 1.8 pips on EUR/USD which is a bit higher than what we consider favorable for traders. However, the required minimum deposit is quite low at $100 and the leverage extended to traders is generous – up to 1:400. Putting all that aside, the lack of credible regulation inclines us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

Gann Markets deposit/withdrawal methods and fees

As is not uncommon with unregulated brokerages – there is no information regarding the available payment methods. There is also scant information in the terms and conditions of the brokerage regarding the withdrawal and deposit conditions. We do not find any explicitly stated withdrawal fees, but brokerage such as this one may always surprise traders with unexpected fees once they have already deposited. We always remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Besides judging the brokerage beforehand through the info given on its website, a valuable piece of information in the trading world would be precisely how a scam would go about. Here is a description of the typical three steps:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. The growth of scammers that are spawning everyday in forex trading has forced both financial services giants Visa and Mastercard to step up and take action. MasterCard has already increased the previous time period of six months for filing a chargeback to a year and a half, effectively bypassing the “recovery department” part of the scam.

If, however, you have provided the broker with your credit card number and CVV code, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
Gann Markets
Broker Rating

Top Forex Brokers

Broker Country Rating Min. Deposit Website
US 5/5 $50 Click for a special offerWebsite
UK, Cyprus, Belize 4.95/5 $5 Click for a special offerWebsite
Australia 4.90/5 $100 Click for a special offerWebsite

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