Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighThree genuine licences confirmed in force, but the entity holding client money sits under light-touch Anjouan supervision, and the Australian licence covers wholesale clients in a different company.
Identity & transparency
5/10 · ModerateEntity, registration number and registered address are disclosed consistently and match the registry and the app stores, but the site claims multiple regulators while naming only one and links no issuing authority.
Withdrawals & conduct
6/10 · HighTwo independent, highly specific fund-integrity reports describing the same AML-review-then-balance-withheld mechanism, set against several credible accounts of fast payouts.
Reputation
5/10 · ModerateNet positive but very thin for a broker marketing in 16 languages: seven Trustpilot reviews, no community discussion, and one large unresolved public claim.
Website claims
6/10 · HighA strategic partnership with CICC and fully protected client capital are asserted without support, and an earlier version of the homepage described market making as a global financial regulatory body.
Operational history
5/10 · ModerateVerified operating history of roughly two years on an aged domain that was parked for a decade, though the broker does not advertise a longer history than it has.
Who they are
A quick desk file on the company behind the brand.
- Brand: GRAND MARKETS
- Legal entity: Grand Markets Ltd, written as Grand Markets Limited on the website. Comoros company number 15998, incorporated 6 December 2024.
- Registered: Hamchaku, Mutsamudu, Autonomous Island of Anjouan, Union of Comoros. Comoros law governs the client agreement.
- Website: grandmarkets.com, with my.grandmarkets.com for client logins and download.grandmarkets.com for the mobile app.
- Only licence named on the site: Anjouan Offshore Finance Authority, L15998/GML, in force to 29 August 2027.
- Also on record, undisclosed by the broker: a Financial Services Commission of Mauritius Investment Dealer licence dated 20 August 2025, and Australian financial services licence 554475 held by Grand Markets Pty Ltd for wholesale clients only.
- Offers: forex, metals, indices, commodities and crypto CFDs on MetaTrader 4, MetaTrader 5, TradingView and an in-house app, with leverage advertised up to 1:1000.
- Not accepted: residents of the United States, Canada, Israel, New Zealand, Iran, North Korea, the United Kingdom, Russia and Belarus.
- Age claim: the site advertises no founding year. The oldest Grand Markets company we could date was formed in 2024, and the website carried its first broker content in January 2025.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Anjouan Offshore Finance Authority (AOFA)
Found by our investigation (3) — the broker does not list these on its own site
Financial Services Commission of Mauritius (FSC)
Found by us — not listed by the broker
Australian Securities and Investments Commission (ASIC)
Found by us — not listed by the broker
ASIC authorised representative registration 001313699
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
Three things decide this: the licences are genuine, the operation is new, and a small number of clients say their money did not come back.
- The regulation checks out, but it is thinner than it looks. The Anjouan authority's own entry for Grand Markets Ltd shows licence L15998/GML as Active with an end date of 29 August 2027. Anjouan is a light-touch offshore regime with no investor compensation scheme, so that licence gives a client very little to fall back on. The Mauritius regulator's register separately lists GRAND MARKETS with an Investment Dealer licence from 20 August 2025, which is real supervision, but the broker does not mention it and the register publishes no licence number for it.
- The Australian licence does not cover you. ASIC's licensee register records financial services licence 554475 for Grand Markets Pty Ltd since 7 October 2024. Its conditions limit advice and dealing in derivatives and foreign exchange to hedging and risk management, and limit market making to wholesale clients. A retail CFD customer is not a wholesale client, and the licence holder is not the company that takes the deposit.
- The number our record carried as an ASIC licence is not a licence at all. ASIC's register of authorised representatives shows 001313699 as a representative registration for Grand Markets Group Pty Ltd, acting under other firms' licences. It ran under Kiwix Pty Ltd from 13 February to 15 April 2025 and under VSTAR Finance Pty Ltd from 8 May to 24 June 2025, both ceased. A third appointment under Trade Prime Pty Ltd ran to 31 December 2025 and also ceased. Three short arrangements with three different licensees in one year, none of them current.
- The track record is about two years, not eleven. The domain dates from 2015, but it sat as a for-sale parking page and has no archived content between 2015 and the end of 2024. Ownership changed in November 2024, the Comoros company was incorporated on 6 December 2024, and the first Grand Markets pages appeared in January 2025. The broker does not claim to be older, which counts in its favour, but the operating history is short.
- The fund complaints share one mechanism. A client published a claim in July 2026 for 42,918 US dollars on MT4 account 11002927: the account was placed under KYC and AML review, emails on 29 May and 16 June 2026 said the review was continuing, and the balance was then reduced to zero with only general allegations of abnormal trading and no trade-level evidence. A separate client in August 2025 reported 1,096 US dollars held with withdrawal and internal transfer disabled while the account was under review. Different people, different places, same failure, with amounts and an account number attached.
- The published figure reflects the profile, not proven misconduct. On the evidence alone the score lands near 58. Because the operating entity is under three years old, our rules lift the published figure to 65 and cap confidence at medium. We did not find a regulator warning, an enforcement action or a fraud-related court record naming this entity.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Anjouan Offshore Finance Authority's own register entry for Grand Markets Ltd, company number 15998, licence L15998/GML, incorporated 6 December 2024, licence end date 29 August 2027, status Active.
E2The Financial Services Commission of Mauritius lists GRAND MARKETS with a SEC-2.1B Investment Dealer licence, Full Service Dealer excluding Underwriting, dated 20 August 2025. The register publishes no licence number for it.
E3ASIC's licensee register records Australian financial services licence 554475 for GRAND MARKETS PTY LTD, ABN 80 672 887 099, from 7 October 2024, with conditions limiting advice and dealing to hedging purposes and market making to wholesale clients.
E4ASIC's authorised representative register shows number 001313699 held by GRAND MARKETS GROUP PTY LTD under Kiwix Pty Ltd licence 503908 from 13 February to 15 April 2025 and under VSTAR Finance Pty Ltd licence 526187 from 8 May to 24 June 2025, both ceased, plus number 001316465 under Trade Prime Pty Ltd licence 421246 ceased 31 December 2025.
E5A client complaint dated 14 July 2026 for 42,918 US dollars on MT4 account 11002927: the account was put under KYC and AML review, emails on 29 May and 16 June 2026 said the review continued, and the balance was then reduced to zero with only general allegations of abnormal trading and no order-level evidence. Still shown as unresolved.
E6A separate client complaint from August 2025 reporting 1,096 US dollars held while the account was under review, with withdrawal and internal transfer functions disabled. Same mechanism as the larger claim, different user and different platform.
ModerateA third-party broker directoryE7The broker's own footer and client agreement name only Grand Markets Limited and the Anjouan licence L15998/GML. The Mauritius and Australian authorisations are not mentioned anywhere on the site, and no link to any issuing regulator's register is published.
ModerateGrand Markets websiteE8Domain records for grandmarkets.com: created 19 August 2015, last changed 27 November 2024, registrar NameSilo, nameservers at Cloudflare. The ownership change sits nine days before the Comoros company was incorporated.
ModerateVerisign RDAP recordE9Archived copies of grandmarkets.com show a for-sale parking page in February 2015, no captures at all between 2015 and the end of 2024, and the first Grand Markets broker content on 29 January 2025. The 2015 domain age carries no continuity with this business.
E10The January 2025 version of the homepage stated that the broker was regulated by MM, described as a global financial regulatory body. MM stands for market making and is not a regulator. The same page carried a Sydney business address at 683-689 George St, Haymarket and an Australian phone number, both since removed.
E11The November 2025 footer described Grand Markets Limited as an operating subsidiary of a Grand Markets Group whose headquarters was incorporated in Sydney, Australia. The current site removes every Australian reference, matching the period in which the Australian representative appointments ended.
E12IOSCO's cross-regulator alert network, which aggregates warnings from more than 150 regulators, returns no warnings matching grandmarkets. A search for the brand returns only unrelated entities on other domains.
StrongIOSCO I-SCANE13ASIC's Moneysmart investor alert list, which names entities not licensed to offer investments in Australia, returns no results for either grandmarkets or grand markets.
E14The domain's Trustpilot page carries 7 reviews at 3.7, 86 percent five star and 14 percent one star, with the profile claimed since December 2025. The company replies to positive reviews, and Trustpilot notes it has not replied to negative ones.
ModerateTrustpilotE15The Google Play and Apple listings both publish Grand Markets Limited as the developer with grandmarkets.com as the developer website, and Google Play shows more than 10,000 installs. The developer identity matches the entity named in the client agreement.
ModerateGoogle Play store listingE16ASIC's company register lists Grand Markets Pty Ltd, ACN 672 887 099, formerly Grand Markets Australia Pty Ltd, in Sydney, and Grand Markets Group Pty Ltd, ACN 682 086 139, in Rhodes, alongside four further Grand Markets companies in New South Wales. The ABN for the licence holder is active from 1 March 2025 and for the representative entity from 1 November 2025.
ModerateAustralian Business RegisterE17The homepage claims a strategic partnership with CICC in global commodities markets and states that client capital is fully protected. No public source confirms a CICC relationship, no custodian bank is named, and an Anjouan licence carries no compensation scheme behind any such protection.
ModerateGrand Markets homepageE18The site publishes 16 language versions, including a Russian one, while its own terms exclude residents of Russia, the United Kingdom, Canada and other jurisdictions. Marketing reach is broader than the licence scope.
The other side
The strongest case in this broker’s favour.
Several things point the other way, and some of the worst that has been written about this broker is simply out of date.
- The widely repeated claim that nothing matches on the registers is wrong. A broker review site concluded in June 2025 that no record existed at ASIC or the Anjouan authority, and that assessment has been copied widely since. Both registers now show entries, and the Mauritius regulator shows a third. The licences exist.
- Three real authorisations is unusual for a shell. An Australian financial services licence is not bought casually, even a wholesale one, and a Mauritius Investment Dealer licence requires capital and local substance. A pure scam does not normally bother.
- Nothing on any warning list. ASIC's investor alert list returns no match for the brand or the domain, and IOSCO's network, which aggregates alerts from more than 150 regulators, returns none either.
- Identity is consistent wherever it is published. The entity named in the footer, the client agreement, the Apple and Google app listings and the corporate registry is the same company, and the apps are published under Grand Markets Limited with grandmarkets.com as the developer site.
- Most reported experiences are good. Six of the seven reviews on the domain's Trustpilot page are five star, several describing withdrawals arriving the same day or within minutes, and the company replies to them. Other users on a third-party broker directory report the same.
- Dropping the Australian framing was the honest move. The site once described a group headquarters in Sydney. Once the representative appointments lapsed, that language came off rather than staying up as a false claim.
- No advance-fee pattern. Nobody reports being asked to pay a tax, a fee or an unlock charge before funds would be released, which is the single most incriminating complaint type and it is absent here.
What would change this
What we would need to see to revise the verdict.
This sits in the middle because the operation is young, not because we found theft. Specific things would move it in either direction.
- Lower: the 42,918 US dollar claim being resolved and the funds returned, or the broker publishing the trade-level evidence behind the alleged breach.
- Lower: the operating company passing three years with the complaint rate staying where it is. That alone removes the age adjustment that carries the current figure.
- Lower: the Comoros contracting entity, rather than a sister company, becoming the holder of the Mauritius or an equivalent licence, so the regulator supervising the firm is also the one holding client money.
- Lower: the site naming every authority it is licensed by and linking each to the issuing regulator's own register, instead of the single Anjouan line it publishes today.
- Higher: more clients describing the same sequence of an AML review followed by a zeroed balance, especially clustered in one window.
- Higher: any regulator warning naming grandmarkets.com, or the Anjouan licence lapsing at its 29 August 2027 end date without replacement.
- Higher: any demand for a payment before a withdrawal is released. One credible instance would change the verdict on its own.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
Anjouan Offshore Finance Authority licence verification
The issuing authority's own entry for licence L15998/GML, including the licence end date.
Financial Services Commission of Mauritius register of licensees
Type Grand Markets into the Name field to see the Investment Dealer licence dated 20 August 2025.
ASIC financial services licensee register record
ASIC's published licensee record for licence 554475 and its wholesale-clients-only conditions.
ASIC authorised representative register record
Shows representative number 001313699 and the dates each appointment ceased.
IOSCO cross-regulator alert search for this broker
Warning-list search across more than 150 regulators, returning no match for this broker.
ASIC Moneysmart investor alert list
Australia's list of entities not licensed to offer investments; Grand Markets does not appear on it.
Grand Markets client agreement
The contract itself, naming the Comoros entity and Comoros governing law.
Frequently asked questions
Quick answers about this broker’s safety.
Is Grand Markets a scam?
We found no evidence that Grand Markets is a scam. Its Anjouan licence is genuine and current, it also holds a Mauritius Investment Dealer licence, and no regulator warns about it. We still rate it 65 percent risk because the company that holds client money was only incorporated in December 2024 and one large fund complaint is unresolved.
Is Grand Markets a fraud?
No regulator or court has found Grand Markets guilty of fraud, and we found no enforcement action, no warning-list entry and no fraud-related court record naming this entity. What we did find is one detailed, unresolved client claim that a 42,918 US dollar balance was reduced to zero after an internal review. That is a serious dispute, not a proven crime.
Is Grand Markets regulated?
Yes, but weakly where it counts. The company you contract with holds an Anjouan Offshore Finance Authority licence, L15998/GML, valid to 29 August 2027. Anjouan is a light-touch offshore regime with no compensation scheme. A sister company separately holds a Mauritius Investment Dealer licence and an Australian licence for wholesale clients only.
Does Grand Markets have an ASIC licence?
A Grand Markets company does. Australian financial services licence 554475 has been held by Grand Markets Pty Ltd since 7 October 2024. Its conditions restrict it to wholesale clients and to hedging-related derivatives and foreign exchange, so it does not authorise the retail CFD business and does not protect a retail client.
What is the number 001313699 that appears against Grand Markets?
It is an ASIC authorised representative number, not a licence. It belonged to Grand Markets Group Pty Ltd acting under other firms' licences, and ASIC's register shows every appointment under it has ceased, the last on 24 June 2025. Anyone presenting it as an ASIC licence is presenting something that no longer exists in that form.
Can I withdraw my money from Grand Markets?
Most reported experiences are positive, with several clients describing withdrawals arriving within minutes or on the same day. The exception matters though: at least two clients report balances frozen under a KYC or AML review, including one case where 42,918 US dollars was reduced to zero. Keep balances modest and withdraw regularly.
Is my money safe with Grand Markets?
There is no compensation scheme behind it. The site says client funds sit in segregated accounts at custodian banks, but it names no bank, and the Anjouan licence carries no investor protection fund. If the firm failed or refused to pay, there is no regulator-backed route to recover your deposit.
Who owns and runs Grand Markets?
The contracting company is Grand Markets Ltd, company number 15998, registered at Hamchaku, Mutsamudu, on the Autonomous Island of Anjouan in the Union of Comoros. Several related Australian companies carry the same brand, including Grand Markets Pty Ltd and Grand Markets Group Pty Ltd, both registered in New South Wales. Individual owners are not published.
How old is Grand Markets?
About two years as a working business. The grandmarkets.com domain was first registered in 2015, but it sat as a for-sale parking page with no archived broker content until the end of 2024. Ownership changed in November 2024, the Comoros company was incorporated on 6 December 2024, and the broker's first pages appeared in January 2025.
Is Grand Markets a clone of another broker?
No. Every licence number and entity name we checked resolves to a Grand Markets company, not to someone else's firm. There is no impersonation of a known brand, and no regulator has published a clone warning naming this domain.
What is an Anjouan licence actually worth?
Not much. The Anjouan Offshore Finance Authority sits on an autonomous island of the Comoros and operates a light-touch regime: it issues and lists licences, but it does not supervise trading conduct, set retail protections or run a compensation scheme. It is best read as evidence the firm exists on paper, not as protection for your deposit.
What should I check before depositing with Grand Markets?
Confirm the Anjouan entry still shows an end date in the future, read the client agreement to see that your contract is with the Comoros company under Comoros law, test a small deposit and withdrawal before committing more, and keep every statement and support email. Do not rely on the Australian licence, which covers wholesale clients in a different company.
I think I have been scammed by Grand Markets. What do I do?
Put your demand in writing and ask for the specific order numbers and evidence behind any alleged breach of terms. File a complaint with the Anjouan Offshore Finance Authority and with the Mauritius Financial Services Commission. If you paid by card, contact your bank about a chargeback immediately, because that window is limited. Ignore anyone who offers to recover your funds for an upfront fee.
What we recommend
The practical takeaway from everything above.
Treat this as an offshore broker with a short history. That means sizing your exposure to what you could afford to lose entirely.
- Check who you are actually contracting with. The client agreement is with the Comoros company, governed by Comoros law. The Australian licence belongs to a different company and covers wholesale clients only, so an Australian regulator will not help you with a retail dispute.
- Verify the licence yourself. The Anjouan entry is public and shows the end date, which matters more than the status wording. The Mauritius register is searched by name rather than by a shareable link.
- Keep deposits small and withdraw regularly. Several clients report fast payouts; the risk concentrates in large balances left on the platform, which is exactly the pattern in the unresolved complaint.
- Document everything from day one. Keep deposit receipts, statements, ticket numbers and every support email. The one serious complaint we found turned on what the client could show about an AML review.
- Be careful with the leverage. Up to 1:1000 on a CFD account will wipe an account out on an ordinary move, with no regulator-backed protection behind it.
- If you are already stuck: ask in writing for the specific trades and order numbers behind any alleged breach, raise it with the Anjouan authority's complaints route and with the Mauritius regulator, and if you funded by card ask your bank about a chargeback quickly, because that window closes.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed October 8, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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