6 reviews of GBE brokers are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
I would never trust my money with this company. After their license was revoked due to malpractice in Malta, they have moved to Cyprus and changed name to GBE Brokers, but the owners and employees are still the same - disgusting!
"On the 8 March 2016, the Malta Financial Services Authority (the MFSA or the Authority) has decided to cancel the Category 2 Investment Services Licence of FX-CAM Consulting and Advertisement Ltd (C57386), formerly Sensus Capital Markets Limited (Sensus or Company) in terms of the powers granted to the Authority under Article 7 of the Investment Services Act (ISA).
Sensus was found in breach of:
- Article 3(1) of the ISA and Standard Licence Condition (SLC) 1.13 of Part BI of the Investment Services Rules for Investment Services Providers (the Rules) for acting beyond its licence by dealing on own account when it was not licensed to do so;
- SLCs 2.94, 2.95, 2.96 and 2.97 of the Rules in breach of the conflicts of interest requirements;
- SLCs 1.06(m), 2.133, 2.134 and 2.141 of the Rules in relation to Sensus' appointment of Introducing Brokers;
- SLCs 2.83, 2.84 and 2.85 in relation to breaches relating to record keeping and retention of data;
- SLCs 1.17(c), 1.17(e), 1.18(c) and 1.25 of the Rules with respect to breaches of the general organisational requirements;
- SLCs 1.06(o) and 1.06(k) of the Rules for failure to notify the MFSA of material information concerning the Company;
- SLCs 7.16 and 7.17 for failure to submit the annual audited financial statements and related documents within the required timeframes;
- SLCs 1.04 and 1.22(b) of the Rules in relation to the appointment of company officials;
- SLCs 1.02 and 1.09 of the Rules as well as Article 13 of the ISA for failure to cooperate in an open and honest manner with the MFSA and for providing inconsistent information to the MFSA;
- SLC 1.20 of the Rules for providing the Company's Compliance Officer with incomplete and /or misleading information;
- SLC 1.06(b) of the Rules for failing to formally notify the MFSA about its change in registered address.
The seriousness of Sensus' above breaches is aggravated by a number of factors including the following:
- The Company does not appear to have acted in good faith and has not shown any degree of openness or co-operation; rather, it has, on numerous occasions, attempted to conceal information and mislead the MFSA whilst undertaking activities that went beyond its licence;
- There are circumstances suggesting that, Sensus consciously concealed information and/or attempted to mislead the MFSA;
- The seriousness of the Company's infringements may have potentially caused losses to its clients as well as impacting its financial soundness, particularly since it failed to obtain a licence to operate as a Category 3 licence holder, and hence was not subject to more onerous licence conditions, including those related to capital requirements and reporting obligations; and
- Sensus engaged in these actions in a repeated and systematic manner and hence its infringements cannot be described as being isolated incidents.
Sensus has therefore been found in breach of a number of requirements which are inter alia intended both to protect investors and to ensure the financial soundness of the Company.
It should be noted that the MFSA decision to cancel Sensus' licence shall not become operative until the expiration of the period within which an appeal lies, and if an appeal is made within such period, the decision shall become operative on the date of the decision of the Tribunal dismissing the appeal or the date on which the appeal is abandoned."
Top end broker. One of the best spreads actually available and a speed of light and reliable trading execution.
Trading live with them from 1 year , simply stellar.
10/10 customer support too, bank accounts availbale in 5 currencies for deposits.
- they provided RAW-spreads on "c-feed" until 5/2014 and then introduced a spread-markup of ~0.2 to 0.4pip
- support: No ticket system, not well organized. There are some that are very responsive, others don't talk to you. Quality is not consistent, not reliable. If you have difficult questions about slippage or trade refund questions, nobody cares.
- very high commission rates. They are not competitive without IB
- execution is fast, slippage is low (BeeksNY4).
The broker is too jung. They still have to learn what customer service is. It's a no-go or now.
Fantastic Managed Account! Low risk, good performance.
10 of 10 stars!
very reliable broker with fast execution.
The execution works perfectly and the support and services are great. The statements of their website correspond to the truth. Thank you
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