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Gales Bank

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Operating status: SCAM

Website: https://galesbank.com/

Broker violations and abnormal records
  • 2022-11-27 The Spain CNMV Added Gales Bank into Its Warnings

    On 28 Nov 2022, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that Gales Bank was not authorised to provide the investment services in Spain. You may visit: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=galesbank.com


    On 28 Nov 2022, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that Gales Bank was not authorised to provide the investment services in Spain. You may visit: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=galesbank.com
  • 2022-11-29 BrokersView has Reviewed that Gales Bank is an Unregulated Forex Broker

    Gales Bank claims to be a reliable without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. 

    According to its website, the broker is located in the UK. As per United Kingdom law, almost all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we did not find any matching results in UK FCA.

    Moreover, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that Gales Bank was not authorised to provide the investment services in Spain.

    The truth is that Gales Bank is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

    Gales Bank claims to be a reliable without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag. According to its website, the broker is located in the UK. As per United Kingdom law, almost all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we did not find any matching results in UK FCA.Moreover, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning that Gales Bank was not authorised to provide the investment services in Spain.The truth is that Gales Bank is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.

Related Complaints

Q&A

Could you please review this broker? I just wondered if it is legit.

moncsicsi
South Georgia and South Sandwich Islands
2022-12-08
ANSWER Gales Bank is not a licensed or regulated broker even though it states offers that look good to be true.According to Gales Bank's website, the broker is located in the United Kingdom. As per United Kingdom law, almost all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (FCA). However, we did not find any matching results in FCA. That means Gales Bank is not an approved broker to offer financial services or products in the UK.Moreover, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning against Gales Bank was not authorised to provide the investment services. You can check the full warning from here.The truth is, Gales Bank is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Gales Bank and trade with licensed brokers.
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