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Today in our GVD Markets review, we are looking at yet another Forex/CFD broker that claims to hold multiple licenses. In reality, however, it only operates under a single offshore license issued by the MISA regulator (the autonomous island of Mwali, Comoros Union). Over 2+ years of presence in the market prompted us to carefully examine the company’s offerings and analyze all available information about the brand. We wanted to determine whether we are dealing with a solid platform that could truly be a reliable partner for traders, or with another fraudulent project successfully hiding behind regulator names. We are sharing the results of this research here.
We began our gvdmarket.com review with general information about the brand. At first glance, it looks fairly solid:
This group also includes GVD PRO CAPITAL (CY) LIMITED, registered in Cyprus, which handles payment operations on behalf of GVD Markets Capital Ltd.
However, all of this apparent legitimacy is purely superficial. The company registered in Mauritius will not even be discussed — its license is essentially useless since it does not accept or serve clients. The Seychelles-registered firm seems to be intended to provide brokerage services, but on its website it is impossible to even register, there are no trading conditions or account types listed. It appears this licensed platform does not work with traders either, despite the license being officially confirmed by the Seychelles regulator. The same applies to the company with the CySEC license — the website offers market news, but opening a trading account is impossible.
The conclusion seems clear: the companies listed above, although licensed, have, at least at the moment, ceased active operations. Moreover, there is no evidence that they are connected to the broker under review. Honestly, even the design of their websites is very different from what we see with GVD Markets. Yes, the sites look somewhat similar, but the site we will focus on later does not even follow a consistent corporate style.
Incidentally, if we consult the OpenCorporates database, which stores information on over 223 million companies, there are additional firms that could be included in this group. For example, in the UK, there is an active company GVD Markets LTD. Another member of the group?
As for GVD Markets Capital Ltd, the information provided about it is fully confirmed in the MISA databases. The company is indeed registered on Mwali (Moheli), Comoros Union, and has held license № T2023331 since July 31, 2023.
Everything would be fine, but…
Pay attention to the website listed in the documents, gvdmarkets.com, and compare it with the one used by the “subject” of our review. Yes, the difference is only one character, but these are completely different web platforms! According to WHOIS data, gvdmarkets.com is indeed registered to GVD Markets Capital Ltd, while gvdmarket.com is registered to an unknown entity, Ricky.
After examining both websites, we realized they are almost identical, except for the single character in the domain name, so we can reasonably assume they belong to the same company. However, the reason for creating a mirror of the official site remains unclear.
It is worth noting that the financial regulator of the Comoros Union Banque Centrale des Comores (BCC) has repeatedly stated that self-proclaimed regulators of autonomous islands, including MISA, operate illegally. According to the BCC, they have no authority to license financial organizations, so the documents they issue are legally null and void. In fact, the license from the Mwali regulator is not taken seriously by experienced traders, experts, analysts, or reputable regulatory bodies. Even other brokers do not value this document highly: it is inexpensive and requires minimal effort to obtain and renew. Therefore, MISA licenses are often purchased by scam project owners who want to make their platforms appear regulated.
Moreover, the company does little to inspire confidence. For example, it offers clients leverage of up to 1:2000. Novices might find this attractive, as even a small deposit can generate significant returns per trade. However, experienced traders view such offers differently, calling extreme leverage a “deposit killer.” The risks involved are unacceptable even for professional investors.
Regarding the company’s duration of existence: we see that it was registered and received its license on July 31, 2023. The operational domain, gvdmarkets.com, where the official website is hosted, appeared on June 28, 2023, almost a month before the official company registration. This aligns with a typical online broker launch roadmap: the website is finalized by the time approval from the registrar and regulator is obtained.
The second domain, gvdmarket.com, where the mirror is currently hosted, was registered a little later — on September 21, 2023. Thus, we can reasonably consider that the company has been operating online for almost two years. This is confirmed by snapshots from the Web Archive, showing that by the end of 2023 and early 2024, the broker’s website was fully functional.
As we mentioned earlier, the official company website differs significantly from those on gvdmarkets.sc and gvdmarkets.eu. To be honest, it seemed rather dull. Most of each page is occupied by the main menu and the footer, which, with its detailed menu, company presentations, and risk notices, is disproportionately large. Black text on a white background, without thematic images or highlighted elements, looks unappealing, forcing users to make an effort to read it. Each page contains minimal content, with the homepage setting the record: besides the main menu and footer, only a primary banner is displayed. Moreover, the banner does not scale properly, and the link on the logo does not work (it does not redirect to the Home Page).
In short, the GVD Markets website looks frankly poor. Honestly, we would not work with a broker whose online “face” looks like this. If it cannot handle such a simple task, how can it organize trading, configure web and trading servers, maintain the user database, and ensure data security? We seriously doubt it is capable.
Do you think the website content is much better? You are deeply mistaken. While the broker’s site contains a lot of useful information, it avoids publishing the most important details. For example:
In short, the broker has tried to make the content somewhat resemble that of popular regulated platforms. Some elements succeeded, but overall, it remains typical of most offshore and nearly all scam brokers. Such a website certainly cannot inspire trust among potential clients.
Trading conditions on the GVD Markets website look much better than those of the vast majority of offshore brokers. The company offers four types of accounts:
As we can see, the broker offers nothing unexpected. High leverage, not the tightest spreads, and a minimal StopOut (only 10% for all account types). Let’s be clear: even a professional trader would struggle to manage risks effectively under these conditions. In fact, the company has created all the conditions for clients to lose their deposits as quickly as possible.
There is another serious issue: it is impossible to accurately calculate trading costs based on the information provided by the company. Yes, each page in the Markets section contains a table that can be considered a contract specification sheet. But first, it does not include swap rates, without which calculating trading costs is meaningless (or only suitable for intraday trading).
However, the broker is not eager to share contact information or other important details about itself. Yes, the footer of the pages easily lists the addresses of all companies in this alleged group. However, as we mentioned, we have reasonable doubts about the connections between them. As for the Mwali address, which appears multiple times across the pages, it is just a regular mailbox used to register several dozen companies. For the local registrar, this is sufficient, but it cannot be considered a “physical” office.
At the same time, on the Contact Us page, the company provides only:
Additionally, the website has an online chat. Operators are not on duty; initially, a bot interacts with the user and then forwards requests to a support agent. This is a typical setup for offshore brokers, and you should not expect prompt assistance: the operator’s response can take anywhere from several minutes to several hours.