Garant Market – The Scam Signs to Identify

Garant Market

If you have come to this Garant Market review, then you are probably trying to make up your mind about whether to open an account with the broker or not. When people decide to engage in online trading, they are first required to select a brokerage to open an account with. While this should not be too complex, most people are overwhelmed due to the ton of options they have to choose from. It can be challenging to navigate through their offerings because each tries to outdo the other and this can leave you unsure of which one to go with.

Nonetheless, you should take note that this decision can have long-term consequences because the brokerage is responsible for providing you all the ingredients needed for trading online. If they are unable to do so, or do not offer quality services, you are the one who is going to suffer. This can make it difficult for you to achieve your trading goals as well. You should also remember that it is not just about choosing a platform that it is not right for you; it is also about avoiding scammers in the market.

Their numbers have grown exponentially due to the heavy traffic, as it means more potential victims for them. They are the ones behind the trading scams you have heard about and you want to avoid them at all costs. Therefore, it is vital that you be choose a brokerage with utmost care in order to ensure it is not a scam. Bear in mind that it is not necessary for such platforms to come with obvious signs that tell you they are fraudulent. You will have to make an effort to identify them, but it is worth it because it helps you make the right choice for your trading journey.

One of the many brokers you will come across is Garant Market and it appears to be an attractive offering, as it allows you to trade a variety of assets and is promising great conditions. But, if you put in some effort, you can see the signs of a scam. What are they? Check out below.

Lying about regulation

Most people will be extremely impressed with the regulatory claims that Garant Market makes because they sound fantastic, only if they were true. First off, it claims to be owned and operated by BlackRock Inc., which has its headquarters in New York. In order to do so, it has to have a license from the Commodity Futures Trading Commission (CFTC) and be a member of the National Futures Association (NFA).

But, when you check the online register of both these entities, you will not find Garant Market listed anywhere, which means it is lying about being based in the US. Moreover, it is also going against the rules of the US regulatory authorities, as they do not allow brokers under their oversight to operate in other markets. Yet, Garant Market is offering its services to global clients.

Apart from that, you will find that Garant Market also claims to be licensed by the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investment Commission (ASIC), but it is breaking their leverage rules for crypto assets. Other regulatory authorities it has mentioned include the Financial Services Authority of South Africa (FSCA), the Dubai Financial Regulation and Supervision Authority (DFSA) and the International Financial Services Commission (IFSC) in Belize.

You can check the registers of all these entities and not find Garant Market listed, which shows that the brokerage is lying about its regulation. Only a scam would ever do so.

No professional trading platform

The trading platform provided by an online broker is key in your overall trading experience, but you will not find a decent offering available at Garant Market because it is clearly not an authentic broker. Most professional brokerages would provide their clients access to market-leading trading solutions like the MT4, or the MT5, which are integrated with advanced trading tools and powerful technology for ensuring a seamless trading experience.

Yet, when you check out the trading platform that Garant Market offers, you will find a web-based trading solution that is severely lacking in terms of features. Even beginner traders will not be able to get much use out of the platform in the long run. It is common for shady brokerages to offer such basic trading platforms to their clients to create the illusion of authenticity and Garant Market is no different.

Poor trading conditions

The trading conditions of Garant Market also provide you another sign of a scam because they are downright poor and cannot help you achieve your trading goals. First off, you should look at the spreads, which start at 3 pips for FX major pairs and this is too high. Most reliable brokers would offer average spreads of about 1 pip and this is three times higher than that.

The leverage ratios that you are offered at Garant Market are also disappointing. This is because they go as high as 1:5, which reflects the incompetence of the brokerage. Such low ratios are of not much use for assets like forex currency pairs, commodities and more and they are too high for crypto assets. CySEC and ASIC have limited leverage for crypto assets at 1:2, but Garant Market is not following the rules, as it lies about its regulation.

High deposit and only crypto payments

The fact that you have to make a minimum deposit of $1,000 at Garant Market is another problem because the standard deposit is $250 and this is four times that. The fact that you can only make deposits in bitcoin and tether should tell you that you are dealing with a scam. Crypto deposits do not come with the option of chargeback, as in the case of credit card payments and more, allowing fraudsters to keep your funds.

Bottom Line

These are clear signs that Garant Market is nothing more than a scam and you should not opt for this brokerage.