Scam

Gulf Brokers

Gulf Brokers stole $15,000 from me!!!

Gulf Brokers scam

I lost FIFTEEN FREAKING THOUSAND DOLLARS because of Gulf Brokers. It was the money I had accumulated in my trading account. They just never processed my withdrawal request. They kept the money and gave me a bunch of pathetic excuses. AVOID GULF BROKERS. That’s the best measure you can take against these scammers.

About Gulf Brokers:

GulfBrokers is a Seychelles based online Forex brokerage. They are owned by “GULF BROKERS DMCC” and operate from Dubai. I wonder how these criminals are still allowed to run an operation like this. These people should be rotting in jail. They are a bunch of notorious scammers. Unfortunately, I didn’t know their reality. I was looking for a trustworthy broker and they were the ones who caught my eye. They have multiple trading instruments and currencies available there so it made me feel like they are credible. The mistake I made was not checking their reputation before handing them my money.

They have a very authentic-looking website and even a mobile app for those who use smartphones more than their laptops. To enhance their deceptive appearance, they have added tons of content on their website about trading and related topics. It makes them appear like they are real experts which they certainly aren’t. They claim they are regulated by the Financial Services Authority, which I think is another big fat lie. If they were really regulated, they wouldn’t scam their customers.

The most astonishing detail on their website is the ‘Professional Indemnity Insurance’. Their insurance is another big scam. They will deduct money from your trading account and call it ‘insurance premium’. Gulf Brokers are running a major scam and all the things you see on their website and app are lies. They are only meant to steal from you.

How GulfBrokers stole my $15k:

I found out about GulfBrokers through their website. Like I said before, I hadn’t hired a broker before so I had no experience. I went through a number of websites and they were the ones who caught my eye. I’ve already mentioned before how they seem legit online. I contacted those people and they gave me a response within a day. They told me about their services and asked me how much I was planning to invest. They kept telling me about their high-quality service and how they can help me get high returns.

After hearing their sugar-coated words, I chose to hire them. I opened a trading account with them and made a deposit of $50 at first. They called me and told me that they can help me get 10x returns through their technical analyses if I just follow their advice. I went on to invest around $10,000 into their different schemes. The total balance of my Gulf Brokers trading account had reached $15,000. It took a lot of months to turn my $10,000 into $15,000 but I was happy with the result and chose to withdraw my money. I also had some personal requirements for which I needed that money. Things took a bad turn as soon as I requested a withdrawal. These scammers didn’t process my withdrawal request!

I was told that I’d get my money within 14 days when I entered my withdrawal request. I thought something was fishy at that moment. These people were taking too long to transfer my funds but I chose to wait. Those two weeks passed and I didn’t get anything. So I contacted the customer support of Gulf Brokers. They told me that it was some technical issue and they’d release my funds as soon as possible. I waited for a week but nothing happened. By this time, I had gotten mad. These people were avoiding the transfer of my funds and I just couldn’t take it anymore. So I complained to the customer support again and demanded that they transfer my funds within a day. They stopped replying. They notified me a few days later that they had deducted the entire balance of my trading account for some reason. I can’t express the level of anger I had at that time. I tried getting their ‘Professional Indemnity Insurance’ but they told me that according to the policy, my situation wasn’t eligible for that.

I’ve tried everything but I couldn’t get access to those $15,000. Gulf Brokers are a bunch of fat liars and thieves who believe in scamming people. They make money by stealing from others. I recommend avoiding them at all costs. Gulf Brokers act all nice and friendly in the beginning to suck out all the money you have. Once they have your money, they’ll stop caring about you and your interests. I made a huge mistake by not checking their online reputation. I found later that they have plenty of negative reviews online. Many people have faced a variety of issues with these people. Gulf Brokers are notorious because of their malicious practices.

They have scammed many others:

I found articles online stating the reality of Gulf Brokers recently. I was looking for some advice on my situation and I wanted to see if there were other people who had faced such issues with Gulf Brokers. To my surprise, there are many victims of these vicious scammers. People have pointed out that the terms and conditions of Gulf Brokers are shady and have plenty of loopholes so they can exploit them. I have added a bunch of important links below so you can check other people’s reviews of these thieves.

Gulf Brokers Review 2021 Conclusion

I shared my experience here in the hope that some people would be saved from these thieves. Losing money sucks and it gets worse when you’ve worked hard for it. Don’t do any business with these scammers and you’ll be safe. You can spread awareness about Gulf Brokers by telling other people too. The more people know about these scammers the better. Thank you for reading.

Important Links:

  • https://theforexreview.com/2019/03/25/gulfbrokers-review/
  • https://www.valforex.com/2019/04/gulf-brokers-review-gulfbrokers-com-hostile-forex-broker-uncovered.html
  • https://scamshunter.com/review/gulf-brokers/
  • https://scamonline.net/scam-companies/gulf-brokers-review/
  • https://scamrecovery.net/gulf-brokers-review/
  • https://www.scamwatcher.org/gulf-brokers-review/
3 Total Score
Avoid Gulf Brokers For Forex

Gulf Brokers stole $15,000 from me and there are hundreds of other people like me who are victims of this Forex scam. Please avoid these scammers.

2.9Expert Score
Trust
2.5
Reputation
3
Customer Service
3
Reliability
3
3User's score
Trust
3.1
Reputation
3
Customer Service
3
Reliability
3
PROS
  • None
CONS
  • Forex Scam
  • Stole $15K From Me
  • Multiple Victims
  • Manipulate Masses
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44 Comments
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  1. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Companies like Gulf Brokers are ruining the name of Dubai and UAE. It’s because of them that people have started thinking that UAE-based forex brokers are scammers. The government should look into such brokers and take them down.

    Helpful(0) Unhelpful(0)You have already voted this
  2. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Can’t withdraw my deposit from Gulf Brokers Bahrain.

    They are not responding to me. Maybe they will start responding after I post this review.

    Horrible service.

    Helpful(0) Unhelpful(0)You have already voted this
  3. Forex isn’t a good way to earn money. Very few people re actually making enough to manage their expenses. Most people lose their deposit. It would be better to learn a better skill that earns you real money. Forex is more like gambling.

  4. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    This company is operating only because it thinks it can scam people and get away with it. As soon as some authorities start taking action against them they will run away to a distant place. Like some other nation or something. Just look at the number of people who have lost money to this broker. How sad.

    - CONS: Poor company
    Helpful(0) Unhelpful(0)You have already voted this
  5. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Has anyone been able to withdraw their money successfully? As I am having a similar issue regarding this topic.

    + PROS: None
    - CONS: Sketchy
    Helpful(0) Unhelpful(0)You have already voted this
  6. Reply
    Don't use Gulf brokers app
    June 29, 2021 at 3:19 pm
    0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Tried gulf brokers’ app a few weeks ago. It wasn’t worth it. They have created an app to steal from forex traders only.

    When I installed the app, I was very excited. I expected something like Olymptrade or IQoption. Gulfbrokers is nothing like those guys. I lost my entire deposit in a day. In a freaking day.

    At first I was making gains then all of a sudden I lost the entire investment. my orders weren’t going through. I could have mitigated my losses. But the app is rigged.

    Definitely not worth using. Look someplace else.

    Helpful(0) Unhelpful(0)You have already voted this
  7. 0.6
    Trust
    10
    Reputation
    20
    Customer Service
    10
    Reliability
    10

    The app sucks… No replies even after 10 msgs.

    I wanted a refund but there’s no reply from Gulf Brokers team anywhere. They are the worst!!!

    I want my money back and they don’t answer. Where’s the customer support huh? You people claim you want to serve your clients but when the client wants to talk you are nowhere to be found.

    Dogs.

    - CONS: Dogs.
    Helpful(0) Unhelpful(0)You have already voted this
  8. 0.6
    Trust
    20
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    I had posted my review on Play store but it got removed somehow. I had given them one star because I did not like anything there. Customer support staff is not responding for days. Where is my money?

    Helpful(0) Unhelpful(0)You have already voted this
  9. 0.6
    Trust
    20
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Gulf Brokers stole from me too. I don’t know where these 5-star reviews are coming from. Maybe the marketing team is posing as customers????🤔🤔🤔 🤨

    - CONS: Scam😡😡😡😡
    Helpful(1) Unhelpful(0)You have already voted this
  10. 4.6
    Trust
    100
    Reputation
    90
    Customer Service
    90
    Reliability
    90

    One of the most advantageous business methods is, in my opinion, the Difference Agreement. It offers the opportunity to open short or long positions. If you’re interested in online trading, this should be your choice. The security is seriously taken. You can try the demo account, it’s well worth the time.

    Helpful(0) Unhelpful(0)You have already voted this
  11. 0.25
    Trust
    10
    Reputation
    0
    Customer Service
    10
    Reliability
    0

    I used to think, they were a decent company but I was wrong, they did not care.

    These people are crooks. They take away your money. Disable your account and freeze the funds in your account at the same time. I was trading there for quite some time, now I won’t anymore.

    They claim to win awards for customer service and that’s a blatant lie. The only award they deserve is the worst forex broker in Bahrain.

    Helpful(0) Unhelpful(0)You have already voted this
  12. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Scammers.

    I cannot get my money from gulf brokers. it was a good run until it lasted but now it is waste.

    Gulf brokers is the worst

    Helpful(0) Unhelpful(0)You have already voted this
  13. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Gulf brokers is not a good forex company. They make big claims that you can earn a lot of money by using their platform but there’s no guarantee. I lost all my deposit in a few days. At first I was gaining a lot of profit then all of a sudden my money was gone. When I contacted the customer support and told them about my problems they said they can’t do anything about it. I must add, they usually give an automated response no matter what you ask. Terrible people terrible

    - CONS: Scammers
    Helpful(0) Unhelpful(0)You have already voted this
  14. 0.6
    Trust
    10
    Reputation
    10
    Customer Service
    20
    Reliability
    10

    Gulf brokers app is the worst forex app in the market. I had deposited $200 in my account and I can’t log into it anymore.

    Helpful(1) Unhelpful(0)You have already voted this
  15. 0.85
    Trust
    20
    Reputation
    10
    Customer Service
    20
    Reliability
    20

    The app is terrible and is filled with bugs. I can’t login and lost the funds in my account. When I contact support it tells me to use the app. How can I use the app if I can’t login my account?! Total scam.

    - CONS: Can't login my account
    Helpful(1) Unhelpful(0)You have already voted this
  16. 0.6
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    20

    Gulf Brokers cheat. They have rigged platform which shows you’ll earn profits but you don’t. Either their indicators are horrible or they are showing you different numbers so they can steal from you. Stay away from these scammers!!!

    - CONS: Rigged Scam customers
    Helpful(1) Unhelpful(0)You have already voted this
  17. 4.6
    Trust
    90
    Reputation
    90
    Customer Service
    100
    Reliability
    90

    I appreciate fast business transactions and security of client resources. I am delighted that I do not have to look for information on various sources. Financial market reports are regularly updated on the broker’s website. It was very easy to register, the website is also clear and fast.

    + PROS: Clear Fast Security Various Soursces Market Reports
    - CONS: non
    Helpful(1) Unhelpful(1)You have already voted this
  18. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Terrible customer support. Does not respond to my refund request. Delays in payment.

    - CONS: terrible customer support does not respond to my refund request delays in payment
    Helpful(2) Unhelpful(1)You have already voted this
  19. Gulf Brokers – ideal broker for retail traders. Fully licensed, regulated and award-winning broker

  20. 0.1
    Trust
    0
    Reputation
    0
    Customer Service
    0
    Reliability
    10

    Fake reviews everywhere about them. I’ve heard that they post 5-star reviews to manipulate their clients. Scammers 100%

    Helpful(1) Unhelpful(1)You have already voted this
  21. 4.1
    Trust
    80
    Reputation
    80
    Customer Service
    80
    Reliability
    90

    I look at what is written here, and I am very surprised, my money has multiplied here several times, so I have no reason to be unhappy

    + PROS: multiplied the invested funds, I do not complain
    - CONS: personally have no bad experience
    Helpful(3) Unhelpful(0)You have already voted this
  22. 0.6
    Trust
    10
    Reputation
    10
    Customer Service
    20
    Reliability
    10

    Someone named Aazman Navos from this company lost me 150000. Very dangerous company. Staff is full of fraudsters who take money from your account and leave you crying.

    - CONS: Corrupt staff
    Helpful(1) Unhelpful(1)You have already voted this
  23. 2.5
    Trust
    50
    Reputation
    50
    Customer Service
    50
    Reliability
    50

    broker like many other brokers, no miracle, but no disaster

    Helpful(1) Unhelpful(1)You have already voted this
  24. 1
    Trust
    20
    Reputation
    20
    Customer Service
    20
    Reliability
    20

    Picking legitimate brokers is so tricky these days. I hope you were able to get your money back OP. The authorities should look into Gulf Brokers for stealing funds from their customers like this.

    Helpful(1) Unhelpful(0)You have already voted this
  25. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Poor experience. The customer support ignores you all the time and doesn’t respond quickly. Why are they running a forex company if they can’t provide decent customer support. If I could, I would give them -5 star rating.

    - CONS: no Customer Support
    Helpful(1) Unhelpful(0)You have already voted this
  26. 3.85
    Trust
    80
    Reputation
    70
    Customer Service
    80
    Reliability
    80

    Appropriate platforms, easy and fast account opening. Wide range of products. Free and fast deposit and withdrawal. Regulated by the financial authority.

    + PROS: Licensed broker No fee for withdrawals Demo account Customer support
    - CONS: Inactivity fee Higher spreads
    Helpful(1) Unhelpful(1)You have already voted this
  27. 0.85
    Trust
    10
    Reputation
    30
    Customer Service
    10
    Reliability
    20

    Worst app…try using a decent forex company’s app for once…then launch an app of your own. Gulf Brokers is the best example of how a forex scam works. NOT RECOMMENDED.

    Helpful(1) Unhelpful(0)You have already voted this
  28. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Gulf Brokers is a complete sham. Those people fool you by showing you profits initially so you’d think you will get some good returns. Then they will take away all your funds in losses. If you would complain to them about this, they will tell you that it is based on luck and your skills and there’s nothing they can do about it.

    I don’t care about all that. No matter how good of a strategy you use, if you are using that strategy on Gulf Brokers, you will lose all of your investment. They are vultures. They will eat away all of your funds, I’m telling you. AVOID Gulf Brokers. They are a scam.

    - CONS: Sham & liars
    Helpful(0) Unhelpful(1)You have already voted this
  29. Reply
    Gulf Brokers is a scam
    May 17, 2021 at 7:03 pm
    0.6
    Trust
    10
    Reputation
    20
    Customer Service
    10
    Reliability
    10

    Gulf Brokers is a scam. The app has too many technical issues. Every time I have to uninstall the app and signup again to use the app properly. When I tried to complain to the customer support, received no response.

    I had signed up on Gulf Brokers Bahrain. These people are scammers and definitely not a good forex broker. Best to avoid working with these guys.

    + PROS: None
    - CONS: Customer support is not responding unistall app every time Terrible
    Helpful(0) Unhelpful(0)You have already voted this
  30. 4
    Trust
    100
    Reputation
    80
    Customer Service
    60
    Reliability
    80

    GULF BROKERS offers CFD trading of major companies such as Apple, Bank of America, eBay or Google.

    Gulf Brokers is the best FX Broker in Asia, named by the Forex Expo. Trade safely with Forex, stock indices, currencies, shares and commodities with an award-winning broker with a VIP service with access to a thousand financial markets.

    + PROS: quick registration Welcome bonus for new traders $0 fees on deposit & withdrawals $100k free demo account
    - CONS: 24/5 support
    Helpful(2) Unhelpful(0)You have already voted this
  31. Great app with an intuitive design and good support, the app is designed for both newcomers and experienced brokers offering a wide range of trading tools for your portfolio. Creating a Gulf Brokers account takes minutes and you can start trading online directly from your mobile phone. Index investing, Commodities and Stocks …

  32. 3.85
    Trust
    80
    Reputation
    80
    Customer Service
    70
    Reliability
    80

    Great platform, Eu trusted, login issue solved with the new update,,,

    + PROS: trader platform
    - CONS: customer service – technical helpline app limitation
    Helpful(3) Unhelpful(0)You have already voted this
  33. 4.5
    Trust
    90
    Reputation
    90
    Customer Service
    90
    Reliability
    90

    so they have a demo everywhere for only 30 days, it would be good to have it for a year what? not somewhere some premium longer demo does anyone know?

    + PROS: so far, everything without a problem, support and selection of the product in order
    - CONS: will show you the time I don't like here, I don't give all the resources here
    Helpful(3) Unhelpful(0)You have already voted this
  34. 1.1
    Trust
    10
    Reputation
    10
    Customer Service
    40
    Reliability
    30

    I invested $200 on 20th April 2021 though it showed profit of $74 in a week but in 10 days I have lost all my 200 USD. I recommend you not to go for Gulf Brokers.

    Helpful(0) Unhelpful(0)You have already voted this
  35. 3.75
    Trust
    80
    Reputation
    80
    Customer Service
    70
    Reliability
    70

    Forex, stock indices, shares, and commodities.

    + PROS: experienced professionals EU Trusted Licensed Metatrader 5 platform
    - CONS: realtime Trading app limitation
    Helpful(5) Unhelpful(0)You have already voted this
  36. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    Gulf Brokers is one of the worst forex brokers out there. These people are running a scam! Their Gulf Brokers App is horrible too.

    I had installed their app in the hopes that I would start forex trading and would make a little side income. But the app has so many glitches that it has become unbearable. I would rather stop using my phone than install that Gulf Brokers app ever again!

    The glitches of the app caused me to lose several hundred dollars within a day or two. It’s really infuriating to lose your money like that. Gulf Brokers should concentrate on spending a little extra on their mobile app. Also, it’s impossible to contact the customer support of this broker through the app. If you don’t want people to contact your customer support, why do you even provide this feature? Just remove it altogether then.

    Helpful(0) Unhelpful(0)You have already voted this
  37. 0.5
    Trust
    10
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    One of my friends had recommended me to open an account with Gulf Brokers. It was one of the worst recommendations I have ever got.

    I don’t why or how, my account at Gulf Brokers was frozen randomly and I lost all the funds I had deposited there. The only information I received on why they froze was the notification.

    I have tried to reach their customer support but they do nothing. They promise to look into the matter or give an automated response, which does nothing for me. I always had my suspicions that forex is a scam. Gulf brokers showed me that my suspicions were right.

    - CONS: terrible support thieves steal your money
    Helpful(2) Unhelpful(1)You have already voted this
  38. 3.6
    Trust
    70
    Reputation
    70
    Customer Service
    80
    Reliability
    70

    Hi everyone, so I decided whether to go or not. I was pretty good at the demo. It’s clear and everything can be calculated and easily set up.

    + PROS: good demo
    - CONS: could be a better spread
    Helpful(3) Unhelpful(1)You have already voted this
  39. 0.6
    Trust
    20
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    They have probably the rudest customer support system among any forex brokers out there. Definitely not recommended to do business with Gulf Brokers. Avoid them!!

    Helpful(1) Unhelpful(0)You have already voted this
  40. 4
    Trust
    80
    Reputation
    70
    Customer Service
    90
    Reliability
    80

    I have been with Gulf brokers for almost 1 year and never had an issues. Their customer service is very expeditious and very efficient. Their platform is without problem.

    Helpful(5) Unhelpful(1)You have already voted this
  41. 0.6
    Trust
    20
    Reputation
    10
    Customer Service
    10
    Reliability
    10

    It’s really sad that there are scammers like Gulf Brokers who steal money from innocent people like this. I’m really sorry that you had to go through all that. I hope you’re doing okay now.

    - CONS: Morally bankrupt scammers Stop scamming people
    Helpful(1) Unhelpful(0)You have already voted this
  42. Reply
    They stole from me too. Please help!
    February 4, 2021 at 4:33 am
    1
    Trust
    30
    Reputation
    20
    Customer Service
    20
    Reliability
    10

    Gulf Brokers have deducted $560 from my trading account saying it’s their trading fee. I had complained to their customer support but they aren’t responding to it. After reading your review, I realize I might’ve lost all the money I have there.

    - CONS: I need a refund!
    Helpful(1) Unhelpful(0)You have already voted this
  43. 1.1
    Trust
    20
    Reputation
    30
    Customer Service
    20
    Reliability
    20

    I had opened an account with Gulf Brokers in August 2019 and I lost all the $400 I had invested there. I’m facing a similar issue here. I don’t know how to get my money back.

    - CONS: Terrifying scam
    Helpful(1) Unhelpful(0)You have already voted this

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