Jump to content


Next High Impact Market News Event:
Retrieving events...

Toggle shoutbox The Traders Chat Open the Shoutbox in a popup

If someone starts flaming you PM me with a screenshot of the incident and I will ban them if its legit. Do not flame them back, it makes our work as admins harder figuring out who started it. So if you flame them back, you may get banned too.
@  Shahram : (22 November 2017 - 07:52 PM) binary option
@  MTH2014 : (22 November 2017 - 05:33 PM) lol you don't believe me right ? I really see selena gomez in red orange like a crab : https://i.gyazo.com/...22e035ac7ca.jpg
@  Tripack : (22 November 2017 - 05:17 PM) Rofl
@  MTH2014 : (22 November 2017 - 05:16 PM) I see selena gomez..
@  Tripack : (22 November 2017 - 05:16 PM) now ppl see crabs and stuff
@  Tripack : (22 November 2017 - 05:15 PM) Then you have forms within forms etc, too much of a headache, when I was a kid I looked at clouds in the sky and I saw a cat while my buddy saw a dog :P
@  Tripack : (22 November 2017 - 05:11 PM) if a form is not confirmed and fails it will start forming another one etc
@  Tripack : (22 November 2017 - 05:10 PM) @zee harmonics do repaint by nature
@  Tripack : (22 November 2017 - 05:04 PM) I guess it happens everywhere
@  MTH2014 : (22 November 2017 - 05:03 PM) it happen in my country too... lol
@  Tripack : (22 November 2017 - 05:02 PM) Nope, lol.
@  MTH2014 : (22 November 2017 - 05:02 PM) @Tripack that my country ...lol
@  Tripack : (22 November 2017 - 05:01 PM) Someone once told me in a completely different context than trading that in his country, if someone starts to make shoes and his business works well, the the whole village will make shoes too, instead of be creative and make something else
@  MTH2014 : (22 November 2017 - 05:01 PM) maybe because of Thanksgiving.. ??
@  Tripack : (22 November 2017 - 04:58 PM) Good question
@  MTH2014 : (22 November 2017 - 04:57 PM) why people looking for Legends and not looking for profit ?
@  Tripack : (22 November 2017 - 04:55 PM) Heh
@  MTH2014 : (22 November 2017 - 04:53 PM) as far as I know his leg ends here... lol :P
@  MTH2014 : (22 November 2017 - 04:53 PM) @Tripack :D :wub:
@  Tripack : (22 November 2017 - 04:52 PM) Lol uncle

Photo

GDMfx Experiences/Problems

deposit withdrawal problems

  • Please log in to reply
106 replies to this topic

#1 russukarian

russukarian

    Member

  • Members
  • PipPip
  • 13 posts
  • LocationUK

Posted 05 December 2016 - 08:25 PM

I'm based in UK and have used GDMfx for around 9 months now as they have good MT4 based binary trading with good choice of BO currency pairs offered.  I've made several deposits using my debit card in the past months.  I was just informed, however, that they are no longer allowing deposits from UK customers by card,  only deposit option now is by bank transfer (which is expensive and slow). They never accepted deposits in UK by Skrill/Nettler etc for some unknown reason.

 

I have not yet tried to withdraw any funds myself from GDMfx and would like to get  feedback  from other users here of  recent experiences with GDMfx when it comes to withdrawing funds back from their trading account. 

Any problems? How would you rate GDMfx?

 

Thanks for any feedback

 



#2 jeanjean

jeanjean

    Member

  • Banned
  • PipPip
  • 384 posts

Posted 05 December 2016 - 08:43 PM

When u did ur deposit on your Skrill, did u select that the money would be used for gambling purposes?! Because when they ask u "For what putpose will u use your money",u have to select gambling purposes! Otherwise your money could be denied when u try to transfer it to GDMFX!
AND THAT'S THE BOTTOOOMMMM LINE!

zrgeaIQ.jpg

#3 russukarian

russukarian

    Member

  • Members
  • PipPip
  • 13 posts
  • LocationUK

Posted 05 December 2016 - 08:53 PM

Hi Jeanjean.   No GDMfx has NEVER offered facility to deposit/withdraw by Skrill or Nettler to customers in UK. 

Until a few weeks ago you could deposit by credit card of bank debit card but now they are not allowing this for UK customers only.  

 

I am asking also from other posters their own recent experiences of whether GDMfx are trustworthy when it comes to withdrawing funds.  Is it easy or difficult to withdraw funds?



#4 jeanjean

jeanjean

    Member

  • Banned
  • PipPip
  • 384 posts

Posted 05 December 2016 - 09:09 PM

Ohhhh :( Sorrynfor it! Can't help then! I had issue with Skrill as well, I thought ur prob was the same as mine!

Hope u'll find a solution!
AND THAT'S THE BOTTOOOMMMM LINE!

zrgeaIQ.jpg

#5 konkistadorr

konkistadorr

    Member

  • Members
  • PipPip
  • 90 posts

Posted 06 December 2016 - 03:39 AM

bad experience for me, i advice to avoid it.

 

Weeks to withdraw, with issues and fees.

 

Go with binary.com for exemple, no issues, nor fees, and all instant !


  • happyjas likes this

#6 RM1

RM1

    Member

  • Members
  • PipPip
  • 295 posts
  • LocationSunny England

Posted 06 December 2016 - 04:38 AM

GDMFX are based in New Zealand. I'd recommend using a broker based in the EU or even here in the UK. I know Markets World is based in the Isle of Man. If you want to do Forex, there's Trader's Way (also UK-based).

 

I've only ever opened a demo account with GDMFX. Since then, I've been bombarded with phone calls and emails from them and from the tone of their messages they just seem to ring alarm bells for me, if you know what I mean. Luckily I don't give out my 'proper' email address and phone number to these brokers, but still a broker shouldn't hassle you all the time and obviously want you to deposit lots of money. Although in your case, it seems they don't want your money!


  • russukarian likes this

#7 charli

charli

    Member

  • Members
  • PipPip
  • 148 posts

Posted 06 December 2016 - 04:07 PM

GDMFX are based in New Zealand. I'd recommend using a broker based in the EU or even here in the UK. I know Markets World is based in the Isle of Man. If you want to do Forex, there's Trader's Way (also UK-based).

I've only ever opened a demo account with GDMFX. Since then, I've been bombarded with phone calls and emails from them and from the tone of their messages they just seem to ring alarm bells for me, if you know what I mean. Luckily I don't give out my 'proper' email address and phone number to these brokers, but still a broker shouldn't hassle you all the time and obviously want you to deposit lots of money. Although in your case, it seems they don't want your money!

Same thing here, 2 weeks ago i open demo acc. and they call me lot of times and email me as well to "looking forward to discussing Trading Interest"... I almost start trade but saw a lot of complains so i don't know,myb is better traders way,because i want to start forex as well, what do you think?
Regards

#8 RM1

RM1

    Member

  • Members
  • PipPip
  • 295 posts
  • LocationSunny England

Posted 06 December 2016 - 04:25 PM

Trader's Way only does Forex so if you want to do Bins you'll need to use a different broker.


  • charli likes this

#9 GDMFX Representative

GDMFX Representative

    Member

  • Members
  • PipPip
  • 28 posts

Posted 07 December 2016 - 06:12 AM

Hi, everyone. First of all, thank you for your interest in GDMFX. We are flattered to be mentioned in your forum. My name  is Stefan and I am managing the English Customer Support at GDMFX. I will do my best to visit this forum regularly and update you on your questions, but in order to get the fastest service it is best to contact our Support team directly via the chat on www.GDMFX.com, email [email protected] or phone (+64) 9951 8201. We are always available to talk to you. 
 
With regards to our temporary restrictions on payments from the UK, I would like to reassure you that we are also very disappointed and concerned with this situation. Sadly, there've been a lot of changes to payment regulations this year, including to the terms of Visa, Mastercard, Skrill, Neteller and others, due to which it has become challenging for brokers from outside the EU to receive payments from certain more highly regulated countries. In short, banks right now are making it really difficult for accepting card payments from the UK, but we are working very hard on this and are interested to have it fixed as soon as possible, as in honesty some of our best clients come from the UK. I assure you that we are doing everything to process withdrawals as fast as possible, as it is in our interest and whatever happens GDMFX cannot simply not pay you without a valid reason because you can always go to the FDR and file a complaint for up to 200 000 NZ Dollars. We did have an issue with Skrill and Neteller earlier this year so clients from certain countries who insisted on receiving a withdrawal to Skrill or Neteller, had to wait for it to be fixed, but in all cases regardless which payment processor fails or can't be used for any reason, we can always send you your money back via bank transfer.  With regards to withdrawal fees, our fees are very low and they are capped at a maximum of 30 GBP, and if you don't want to have any withdrawal fees you can always ask about our custom PRO accounts.
 
I would like to very much thank you for reaching out and raising these questions as they are obviously important. Please do not hesitate to contact us at any point in time. We are always very happy to assist!


#10 mr.march

mr.march

    Member

  • Members
  • PipPip
  • 46 posts

Posted 07 December 2016 - 06:30 AM

 

Hi, everyone. First of all, thank you for your interest in GDMFX. We are flattered to be mentioned in your forum. My name  is Stefan and I am managing the English Customer Support at GDMFX. I will do my best to visit this forum regularly and update you on your questions, but in order to get the fastest service it is best to contact our Support team directly via the chat on www.GDMFX.com, email [email protected] or phone (+64) 9951 8201. We are always available to talk to you. 
 
With regards to our temporary restrictions on payments from the UK, I would like to reassure you that we are also very disappointed and concerned with this situation. Sadly, there've been a lot of changes to payment regulations this year, including to the terms of Visa, Mastercard, Skrill, Neteller and others, due to which it has become challenging for brokers from outside the EU to receive payments from certain more highly regulated countries. In short, banks right now are making it really difficult for accepting card payments from the UK, but we are working very hard on this and are interested to have it fixed as soon as possible, as in honesty some of our best clients come from the UK. I assure you that we are doing everything to process withdrawals as fast as possible, as it is in our interest and whatever happens GDMFX cannot simply not pay you without a valid reason because you can always go to the FDR and file a complaint for up to 200 000 NZ Dollars. We did have an issue with Skrill and Neteller earlier this year so clients from certain countries who insisted on receiving a withdrawal to Skrill or Neteller, had to wait for it to be fixed, but in all cases regardless which payment processor fails or can't be used for any reason, we can always send you your money back via bank transfer.  With regards to withdrawal fees, our fees are very low and they are capped at a maximum of 30 GBP, and if you don't want to have any withdrawal fees you can always ask about our custom PRO accounts.
 
I would like to very much thank you for reaching out and raising these questions as they are obviously important. Please do not hesitate to contact us at any point in time. We are always very happy to assist!

 

This is not normal that traders have no other choice but to suffer because of your problems. You have signed the T&C as your clients and you have to provide them with the promised serives. We tend to be very sensitive about our withdrawals and the fact that your UK clients have to open a PRO account with you or pay 30 GBP is not all right either. If we do not have any normal withdrawal options, clearly we would want to stop trading with you, not to go futher instead.



#11 jeanjean

jeanjean

    Member

  • Banned
  • PipPip
  • 384 posts

Posted 07 December 2016 - 06:38 AM

This is not normal that traders have no other choice but to suffer because of your problems. You have signed the T&C as your clients and you have to provide them with the promised serives. We tend to be very sensitive about our withdrawals and the fact that your UK clients have to open a PRO account with you or pay 30 GBP is not all right either. If we do not have any normal withdrawal options, clearly we would want to stop trading with you, not to go futher instead.


From my opinion, bank withrawal is a normal withrawal option.
AND THAT'S THE BOTTOOOMMMM LINE!

zrgeaIQ.jpg

#12 mr.march

mr.march

    Member

  • Members
  • PipPip
  • 46 posts

Posted 07 December 2016 - 07:04 AM

From my opinion, bank withrawal is a normal withrawal option.

It might be normal, but I do not see why a guy has to take it for his withdrawal with its fees instead of the method, which he have deposited with. Unexpected situations happen, of course, but in such case they could have compensate transaction losses for all who suffered at least.



#13 BOedge

BOedge

    Member

  • Members
  • PipPipPip
  • 585 posts

Posted 07 December 2016 - 08:26 AM

 

Hi, everyone. First of all, thank you for your interest in GDMFX. We are flattered to be mentioned in your forum. My name  is Stefan and I am managing the English Customer Support at GDMFX. I will do my best to visit this forum regularly and update you on your questions, but in order to get the fastest service it is best to contact our Support team directly via the chat on www.GDMFX.com, email [email protected] or phone (+64) 9951 8201. We are always available to talk to you. 
 
With regards to our temporary restrictions on payments from the UK, I would like to reassure you that we are also very disappointed and concerned with this situation. Sadly, there've been a lot of changes to payment regulations this year, including to the terms of Visa, Mastercard, Skrill, Neteller and others, due to which it has become challenging for brokers from outside the EU to receive payments from certain more highly regulated countries. In short, banks right now are making it really difficult for accepting card payments from the UK, but we are working very hard on this and are interested to have it fixed as soon as possible, as in honesty some of our best clients come from the UK. I assure you that we are doing everything to process withdrawals as fast as possible, as it is in our interest and whatever happens GDMFX cannot simply not pay you without a valid reason because you can always go to the FDR and file a complaint for up to 200 000 NZ Dollars. We did have an issue with Skrill and Neteller earlier this year so clients from certain countries who insisted on receiving a withdrawal to Skrill or Neteller, had to wait for it to be fixed, but in all cases regardless which payment processor fails or can't be used for any reason, we can always send you your money back via bank transfer.  With regards to withdrawal fees, our fees are very low and they are capped at a maximum of 30 GBP, and if you don't want to have any withdrawal fees you can always ask about our custom PRO accounts.
 
I would like to very much thank you for reaching out and raising these questions as they are obviously important. Please do not hesitate to contact us at any point in time. We are always very happy to assist!

 

 

1) 30 GBP are exorbitant fees for a bank to bank wire transfer. Most of your competitors charge up to $10, some top out at $20. 30 GBP is closing in on $40. That also doesn't reflect personal banking fees for intl wires.

 

2) You offer no BO Pro account, at least that is not visible on your website. Your Blade Pro Account is for FX requires a minimum deposit of $5000.

 

Neither of these two options are very competitive. I am sure you can do better. Perhaps you will... :)

 

 

And

3) You are a NZ based company yet you do not accept NZ residents as your customers! How come????



#14 GDMFX Representative

GDMFX Representative

    Member

  • Members
  • PipPip
  • 28 posts

Posted 07 December 2016 - 09:45 AM

1) 30 GBP are exorbitant fees for a bank to bank wire transfer. Most of your competitors charge up to $10, some top out at $20. 30 GBP is closing in on $40. That also doesn't reflect personal banking fees for intl wires.

 

2) You offer no BO Pro account, at least that is not visible on your website. Your Blade Pro Account is for FX requires a minimum deposit of $5000.

 

Neither of these two options are very competitive. I am sure you can do better. Perhaps you will... :)

 

 

And

3) You are a NZ based company yet you do not accept NZ residents as your customers! How come????

 

Hi,

 

Excellent questions and thank you for posting them!

 

1) With regards to the withdrawal fee and whether it is competitive, a lot can be speculated, but it is a matter of opinion and priorities really. Just for the record, I would like to clarify that it is not fixed at 30 GBP. It is actually 1%, with a minimum of 10 and a maximum of 30. Furthermore, we are always looking for ways to reduce the costs for our clients and reviewing  our fees is something we do on a regular basis, so the current fees are not something set in stone. Additionally, I can mention that one can always contact any one of our representatives and ask for a custom arrangement. We are very proud of how flexible we can get when a custom account is needed.

 

2) Actually, we are preparing to launch brand new BO Account Types together with a new platform. We've been working very hard recently to add a new BO platform, developed with some of the leading BO Tech providers. It should be out within a few weeks and it will come packed with new Option Types, higher payouts and new Account Types. Our current MT4 system for Binary Trading will remain in place as well and clients will be able to use both at the same time. With GDMFX you can have up to 10 Trading Accounts of different types at no extra cost and internal transfers in between them are free.

 

3) This is not a company position, but rather an informal personal opinion. It is quite a complicated matter, but in short, I can say that it is for Tax and Compliance reasons. The current legislation in NZ puts a lot of additional requirements and tax strain on Brokers who accept local citizens and residents and on top of that Binary Options are still a bit of a gray area as far as the FMA is concerned. Therefore at this stage the company has more flexibility and peace of mind with international clients. Nevertheless, we do plan to remove that restriction as soon as the rules and regulations surrounding Binary Trading in NZ become more favorable, which we feel is happening already.

Regardless of the above, it is important to point out that in case of a valid complaint to the FDR our clients can be awarded with compensation of up to 200K NZD, regardless which part of the world they are from. The FDR is a very potent dispute resolution scheme and in operates entirely online, so it is very comfortable as well. I really hope that none of you will have to use it and we are always doing everything possible to resolve any complaint without the need to escalate it to third-parties.

  • chalan8 and BOedge like this

#15 GDMFX Representative

GDMFX Representative

    Member

  • Members
  • PipPip
  • 28 posts

Posted 08 December 2016 - 01:17 AM

It might be normal, but I do not see why a guy has to take it for his withdrawal with its fees instead of the method, which he have deposited with. Unexpected situations happen, of course, but in such case they could have compensate transaction losses for all who suffered at least.

Hi. Just to clarify further, as I believe there is a misunderstanding here. Actually, our withdrawal fee is the same regardless if it is a wire transfer or Skrill, so clients are not being overcharged.



#16 BrianC

BrianC

    Member

  • Members
  • PipPipPip
  • 825 posts
  • LocationSpain

Posted 08 December 2016 - 03:04 AM

I have been trading with GDMFX for some months now, but I'm still not trading big money, so my deposits and withdrawals have been rather small, but without any real problems.

I say real problems, because to begin with I had now problems with Skrill (I'm based in Spain), but then I was told that I can't use Skrill anymore, however, withdrawal was fast and went into my bank account in a matter of a couple of days.

As for the withdrawal fee, well, I don't like it either, but it is stated int their terms before we make the first deposit, so really, if you can't accept it, don't make a deposit in the first place.

 

Finally, I think that the fact that a broker is willing to answer our questions here is positive. I don't think that scam brokers will show up here and give explanations, they usually show up badly disguised as fellow traders with an awsome new strat.

 

What I like about them: I simply can't find any other broker that offers bins in MT4 and who can match their payouts. I have not found any MT4 broker offering 80-83% on M5 and higher expiry (on live accounts, don't trust payouts on demo accounts). (If you know any, please let me know). I simply refuse to risk my money for anything less than 80% payout. Also, I find their MT4 platform fast and reliable.

 

What I don't like: well, their withdrawal fees, but I can live with that. What I absolutely do hate though, are the phone calls.


  • Mowgli and chalan8 like this

#17 RM1

RM1

    Member

  • Members
  • PipPip
  • 295 posts
  • LocationSunny England

Posted 08 December 2016 - 04:12 AM

What I don't like: well, their withdrawal fees, but I can live with that. What I absolutely do hate though, are the phone calls.

 

 

That's what raises alarm bells for me. I tend to avoid brokers that constantly bombard their clients with phone calls and emails - usually in an effort to get them to deposit more money. Note how their 'rep' hasn't said anything about that in this thread...



#18 GDMFX Representative

GDMFX Representative

    Member

  • Members
  • PipPip
  • 28 posts

Posted 08 December 2016 - 05:25 AM

I have been trading with GDMFX for some months now, but I'm still not trading big money, so my deposits and withdrawals have been rather small, but without any real problems...

 

Hi, BrianC. Thank you for your post! Maybe we should consider a special free withdrawal once per month for members of this forum because we really appreciate the constructive discussion that is going on. We just have to check with the Admins to see if such thing would not break any of the house rules because I do not want to be considered a spammer/advertiser.

 

 

 

That's what raises alarm bells for me. I tend to avoid brokers that constantly bombard their clients with phone calls and emails - usually in an effort to get them to deposit more money. Note how their 'rep' hasn't said anything about that in this thread...

 

Hi. Actually, I didn't comment on it because I didn't think it was such a  big deal. We don't have huge call centers with 60+ guys. We only have a couple of people who would provide an occasional courtesy call. Anyone who does not want to receive any more phone calls can just say on the phone, and that will be the end of it. If you say to the GDMFX rep who calls you, that you do not want to receive any phone calls, and he continues anyway, please contact our Support Team and report it so we can take the appropriate measures!


  • Mowgli likes this

#19 Tripack

Tripack

    Trader

  • Moderators
  • 2,169 posts

Posted 08 December 2016 - 05:33 AM

My first bad experience about trading was in fact incessant calls from fx and bins companies.
I think by now I tend to categorise brokers in two categories:
- The serious ones: they never call you, the only thing you may see is occasional emails. Those are usually perceived as the most reliable in everything else somehow.
- The less serious ones: they call you all the time and act like your best buddy and press you to deposit. Those are often perceived as scam brokers. On top of that the worst ones will sell your details to others who will sell them again to others.

So really if you want your customers to have a safe feeling about you, don't bug them :)
  • cofferic, happyjas, Svalbard and 4 others like this

#20 leon74

leon74

    Member

  • Members
  • PipPip
  • 63 posts

Posted 08 December 2016 - 07:47 AM

gdmfx i think you should stop the callings personaly i dont think that callings fit with the profile of a serious broker also from friends i know that is not so occasional ,other than this nice to be here answering clients and potencial clients questions






0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users


USA REGULATION NOTICE: There are many binary options companies which are not regulated within the United States. Most of these offshore companies are not supervised, connected or affiliated with any of the regulatory agencies such as the Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA).

It is our STRONG opinion that you do not operate with any unregulated brokerage firm as they may steal or try to scam you out of every dime you have. Please take notice that any unregulated trading activity by U.S. Citizens should be considered unlawful.

Risk Disclosure: Binary Options Edge does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors. Binary Options Edge doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site. The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.