Gem Forex

Founded in 2010 as GemTrade by a group of Japanese traders, GemForex grew into a prominent offshore brokerage firm offering forex and CFD trading services. The company primarily targeted the Asian market, particularly Japan, providing services like free Expert Advisors (EAs), mirror trading on platforms like MT4 and MT5, and high-leverage accounts. However, in May-June 2023, the company abruptly suspended all services, including client withdrawals, citing alleged fraudulent activities by a third-party payment provider and abusive trading by some clients. These events led to a widespread operational collapse, leaving many clients unable to access their funds.