Spanish regulator CNMV has warned against offshore broker Global Market Index (GMI). This is operated through some offshore companies in St. Vincent & The Grenadines, Vanuatu, and Mauritius. Global Market Index Limited in Mauritius is registered as an investment dealer with the FSC Mauritius. The broker is mainly active in the Asian region and has no authorization for European activities.
Key Data
| Trading name | GMI Global Market Index |
| Fraud acitivity | Multi-asset broker scheme |
| Domains | https://gmimarkets.com https://gmiwh.com https://ma.gmimarket.be |
| Legal entities | Global Market Index LLC (SVG) Global Market Index Limited (Vanuatu) Global Market Index Limited (Mauritius) |
| Jurisdiction | St. Vincent & The Grenadines Mauritius, Vanuatu |
| Leverage | up to 1:2000 |
| Payment options | Credit and debit cards, bank wire, crypto |
| Authorization | FSC Mauritius as Investment Dealer |
| Trustpilot | 2.9-star rating with “Average” trust level |
| Compliance Rating | Red Compliance |
| Warnings | CNMV |
Short Narrative
Our review on May 17, 2023 found that you could not register with GMI as an EEA resident. The EEA countries and other jurisdictions were not included in the drop-down list. However, this restriction was easy to work around.
After registration, no per-KYC deposits were possible. You had to verify your identity and address before deposits were possible. In this respect, we have nothing to criticize.
However, the CNMV’s warning prompted us to add GMI to our Orange Compliance list.
Report Scammers
If you have any information about the Global Market Index scheme, operators, and facilitators, please let us know via our whistleblower system, Whistle42.
