Gemstone Holdings purports to be an international Forex trading platform with world-class status. Allegedly based in Switzerland and Seychelles with a UK legal department, the website promises users a simple web platform and yet expects users to pay a minimum of 5,000 USD!

It sounds fishy, so we decided to investigate. In our Gemstone Holdings review, you will learn the truth about this business and why you should stay away from it.

Legal Info: Is Gemstone Holdings Regulated?

Scroll down to the bottom of the website. You’ll read that Gemstone Holdings’ head office is in Switzerland, its legal department in the UK, and that the company is registered in Seychelles. We checked all three and got no results.

This entity exists nowhere but on its own website. It’s not a transparent and legally approved firm. Trading on such a platform carries enormous risks, as these suspicious dealers often turn out to be scammers! Just look at Vertex Market. 

We thus recommend sticking to regulated firms operating under the supervision of reputable financial market authorities such as the FCA (UK), ESMA (Europe), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.

Such companies are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.

Who Are Gemstone Holdings’s Targets?

According to WHOIS, the active gemstone-holdings.com website domain was created on December 18, 2023. Since then, the financial swindler has been accepting traders from the following jurisdictions: 

• United States
• Netherlands
• South Africa
• Canada

The four countries have unique regulations but share many common ground. For instance, each of them requires all market participants to obtain a license/permit to operate. Their respective market watchdogs meticulously supervise the markets to prevent imposters from deceiving traders and investors.

As mentioned, Gemstone Holdings is not authorized to provide services; it’s an anonymous website. To avoid such tricksters, look up your provider in regulatory databases. Note that some like ET Finance, although licensed, are limited to specific regions. 

Trader Reviews – Sharing Experiences

This is where it gets tricky. If you search for Gemstone Holdings reviews on trustpilot.com, you’ll see the dubious broker has received 46 positive comments and an average score of 4.6/5. However, we doubt this is candid feedback. The website is simply too “young” to have received so many positive organic reviews.   

Two complaints against the platform are posted on scamadviser.com. Both stress that withdrawal issues are guaranteed. In any case, user feedback is crucial for determining whether a provider is legit. Before investing, you should always read what traders and investors think about a specific company. 

Which Trading Platform Is Available?

The Gemstone Holdings trading platform is a web-based interface featuring fundamental tools from TradingView. Users can utilize basic charts, graphs, and indicators, but that’s about it. There are no advanced tools or mobile versions.

Given the broker’s fraudulent status, the platform is likely rigged. Therefore, we recommend you opt for a licensed provider offering reliable third-party software, such as MetaTrader 4, MetaTrader 5, or cTrader.

MT platforms offer a wide range of advanced tools, including automated and algorithmic trading, superb charting, multiple timeframes, live market reports, expert advisers, branch optimization, and more.

Gemstone Holdings account types

Trading Info – Leverage, Spreads, Commissions

The maximum leverage scales from 1:100 to 1:500, which is pretty high and, more importantly, illegal. European brokers cannot offer more than 1:30 to retail clients. Trading with high leverage is extremely risky. While you can significantly amplify potential profits, the same applies to potential losses. Many have taken the risk and lost everything.

Spreads seem decent, but the commissions remain undisclosed. Deceptive brokers are known for including hidden fees. We would’ve checked ourselves, but the Gemstone Holdings login page blocked us.

Since there’s no demo account, our attempts to try out the platform were in vain. Nevertheless, we stand by our statement that this broker is terrible.

AnyDesk – Fake Customer Support

The website also supplied download links for AnyDesk, an application that permits one user to access another’s PC and assume control. While the program can be helpful in certain situations, it can also wreak havoc if misused. 

Considering the potential financial damage scammers could inflict with access to your personal information, please avoid granting them access.

Deposit and Withdrawal Process

The website mentions two payment methods for depositing money and withdrawing funds:

• Credit/debit cards
• Wire transfers

The Gemstone Holdings minimum deposit is 5,000 USD, which is insane, considering legit brokers charge 20 times less. Per the negative reviews, withdrawal issues are inevitable. In that case, you can only explore alternative refund options.

For MasterCard or Visa credit/debit card payments, you can request a chargeback at the issuing bank within 120 days to get a refund. To make a strong case, provide bank officials with sufficient evidence and relevant documents. 

On the other hand, reversing wire transfers is possible via a recall. You can request it at your bank, but keep in mind that wires are only reversible if the money has not yet been transferred.

Key Facts To Consider About Gemstone Holdings

Gemstone Holdings is not a real brokerage firm; it’s a cunning scheme designed to fool unwary individuals and steal their money. Forex trading is just a ruse here. These criminals mainly target American, South African, Canadian, and Dutch traders.

We do not recommend trading on this platform due to its unregulated status. If you are a victim of the Gemstone Holdings Forex scam, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

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