Gulf Brokers DMCC: Shady and Suspicious
Gulf Brokers DMCC is a broker in Dubai, United Arab Emirates. It is a corporate member of the DGCX (Dubai Gold and Commodities Exchange) and has a license from the Securities and Commodities Authority.
Their office is located at Gulf Brokers DMCC, Office no 905, the Palladium tower, Cluster C, JLT Dubai, UAE and their contact number is +971 42 42 4120.
The website of this broker is quite simple. There are no flashy offers. Also, there is nothing enticing the user to sign up on their platform, which seems quite suspicious.
Furthermore, the company mentions multiple times that it is a broker of the Dubai Gold and Commodities Exchange and has a license from the SCA.
However, having only a license doesn’t make a broker reliable. Gulf Brokers DMCC has to reiterate multiple times that it’s a licensed company because the rest of their website makes them seem like a generic trading scam and nothing more.
Gulf Brokers DMCC Shares No Helpful Information
When you visit the website of Gulf Brokers DMCC, you will see a brief list of advantages they offer to their clients.
However, their offered advantages are the bare minimum you can expect from any UAE-based forex broker. The company claims to provide 24/7 customer support and fast execution of trades. Isn’t that something every forex broker provides its users with?
The rest of the advantages they claim to offer is the regulatory oversight of the SCA and safeguarding of your funds. That’s it.
The company doesn’t have any attractive trading conditions or offers to attract clients.
In the trading conditions page of Gulf Brokers DMCC, you will see the same 4 advantages reiterated again. However, the company does mention that they offer a wide variety of instruments to trade such as equities, hydrocarbons, currencies and metals.
However, the company doesn’t highlight or share any additional details about its trading conditions such as minimum deposit limits, withdrawal information, etc.
In its legal documents, the company shares that it can charge you fees for the various services it provides you with. But there is no specific information on how much this fee would be. Also, Gulf Brokers DMCC doesn’t say what kinds of services they would charge for.
The only positive quality of Gulf Brokers DMCC is that it has a license from the SCA. But sadly, that doesn’t suffice to make the broker seem credible.
Should You Trust Gulf Brokers DMCC? The Answer is No
Considering how bland and useless their website is and how much information they hide from their clients, it’s obvious that the intentions of the people running this company aren’t good.
This broker seems like a scam targeting the relatively untouched market of the Middle East. The company fails to highlight any qualities that make it stand out from the competition. Maybe because it doesn’t have any.
Furthermore, it hides any information related to its fees and doesn’t share any information on its trading conditions.
All of this indicates that you should stay miles away from Gulf Brokers DMCC. There are plenty of other UAE brokers out there so you don’t have to stick with the worst one.