Goldmans Banc review – 5 things you should know about

Goldmans Banc review – 5 things you should know about

Beware! Goldmans Banc 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.


Goldmans Banc is a CFD brokerage based presumably in the UK. It provides  the MetaTrader 4 trading platform with a balanced leverage of just 1:50 but an excessive required minimum deposit of $400. However, further trading conditions remain undisclosed.

Goldmans Bans regulation & safety of funds

The brokerage claims to be part of a UK-based conglomerate registered under the name GMB. We remind readers that brokerages operating on the territory of the UK have to be regulated by the Financial Conduct Authority. Upon running a check through the online registry of the FCA we did find the company’s name listed among the licensees of the British financial watchdog. However, while researching the brokerage on the web we came upon an official warning issued by the Financial Conduct Authority which reads that the brokerage is suspected in providing financial services without proper authorization and is acting as a clone firm of the legitimate company GMB Portfolio Services Limited. The FCA warning and the the lack of regulation  puts tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading options.

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.

Goldmans Banc trading software

 The brokerage does provide the MetaTrader 4 trading platform which is something we always consider an advantage since the MT4 is among the foremost trading terminals in Forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). However, there isn’t an available test-drive which isn’t surprising since unregulated brokerages usually do not offer a demo account. The trading conditions of the brokerage remain a mystery. We only read that the required minimum deposit is well above the industry average and definitely not in favor for traders. The leverage is also weirdly lower than what you would expect from an unregulated broker. Probably part of the whole act in deceiving traders it is actually part of the legitimate GMB.

Goldmans Banc deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via Visa and MasterCard, as well as bank wire. E-wallets such as Skrill, Neteller are missing.

We did not find any stated withdrawal fees either, however, dealing with unregulated brokerage we may never be sure whether they wont charge unexpected fees once the clients have deposited their funds. But we did come across quite ill-minded provisions. There are also withdrawal conditions pertaining to accounts that have taken advantage of the bonus promotion. A trader has to achieve a certain trading volume in order to be eligible for withdrawal which is purposefully excessive in order to impede any trader from actually receiving his money.

Such website are also the reason we advise traders 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?

Even though the forex trading world is extremely large and encompasses millions of people around the globe, the most common scamming is pretty simple and straightforward and as such – it’s not particularly daring to avoid. Here is a quick overview of how it is done:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Cashless PayGroup 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 angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case Btcoinpro – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

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. 

If, however, you have provided the broker with your credit card details, 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
Goldmans Banc
Broker Rating

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  1. Hello,
    I am traying to delete my account with (I am nt sure how they got my information).

    Anyone knows how to do it?


    1. It’s a scam Cloned company, beware…

      1. Yes, but I am trying to delete my account and there is no available option. They don’t have an email (the ones on their website doesn’t work, doesn’t exist). I only have the the address they send me to tell me that I have an account with them asking for funding ( [email protected] ) but he/she/it doesn’t answer. What can I do to delete the account they created? Do you know where or to who/which organization can I report this issue?

        1. They are already reported to highest UK authorities but unfortunately they are still trading, you will not be able to delete your account and they are fraudulent and only respond when you want to deposit money… Sorry for you.. Report them ASAP to your countries financial authority

        2. Try this link it my work . As is a link they send to me with the idea of investment with them.
          As I looking the reviews I can see that already myself as was victim exactly with the some tactics
          As this side it offers too.
          I have started with £ 250 ,and they’re on, and on to encourage you to invest more ,for the great
          Benefit , I have lost a total £23,000. By that time I realise what it was going on .
          By them not one was answered any emails or phone calls.Their name it was VALENSKI COMPANY
          I never manage to get any money back., is More I think this one’s they’re the some people but with a
          Different name . Otherwise how they did manage to get my email and phone details to continue calling me and offer me their products?…

  2. Beware. Fraudulent company.
    FCA have stated Cloned company. Mario Novak is broker.
    Refuses to return money until you invest more.
    Do not fund deposit your account with bitcoin. That’s what they want as its not regulated.
    Unregulated company, based in St Vincent, most scam companies based at exact same address.

    Please stay away from them.

    Action fraud police and FCA ongoing investigation taking place.

  3. Kértem a pénzem kifízetését és azt mondták,hogy fizessem meg a nyereségem 20 %-át!Tudna valaki segíteni,hogy legalább a befizetett összeget visszakapjam?
    I asked for my money to be paid out and I was told to pay 20% of my profits! Can someone help me get at least the amount paid back?

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