GCM Forex Misled Me and Took ₺323,500 – Unauthorized Transactions and Manipulated Prices

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September 05, 2024 12:08 pm
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GCM Forex, along with their investment advisor E** K**, convinced me to open an account after numerous calls. Even though I told them I had no experience in investments, they assured me they would help. However, every penny I invested was lost due to their manipulation and misleading guidance. They didn’t allow me to make any profit, and I noticed money constantly disappearing from my account—₺300, ₺500, or even larger amounts, especially during the night. They opened spreads with prices that didn’t exist in the market, and my orders were constantly changed without my approval.

When I pointed out to E** K** that my screen was not syncing with the actual market prices, he admitted there was a 15-minute delay. Whenever I closed a position, the market would behave normally, but as soon as I opened a new one, there were huge discrepancies. I opened hundreds of trades, all with the same issue, and none closed with profit. The market would show calm movement, but my screen displayed sudden sharp changes within seconds, causing all my trades to close in a loss. When I tried to close positions during important market announcements, they wouldn’t let me, showing a “busy” message on my screen. After a delay, my trades would close with significant losses.

After filing a complaint with CİMER, I was contacted by I** from GCM Forex, who suggested reaching a settlement with E** K**. When I accused them of manipulating my trades and screen to take my money, I was told, “How do you know the TV is showing real data? Maybe the TV is wrong.” I will be filing a formal complaint against them for their unfair practices.

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