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In my experience as a trader who relies heavily on regulatory clarity and clear operational transparency, GMCU shows a mixed picture regarding legitimacy. They are registered in Australia and their background as Goulburn Murray Credit Union Co-Operative Ltd spans several decades, which would generally inspire a degree of confidence. They have held an Investment Advisory License from ASIC, which is usually a positive indicator of oversight. However, I am cautious because their ASIC regulatory status is marked as "Exceeded." In the industry, this often suggests that the license may have lapsed, surpassed its intended scope, or is not fully active, which could present a regulatory risk for users relying on protections and compliance typically enforced by a live financial authority. From what I see, GMCU mainly offers standard banking products—such as loans, savings, and insurance—rather than the typical leveraged trading instruments found at most forex brokers. There is no mention of demo accounts, forex trading services, or platforms like MT4 or MT5 that professional traders would expect. This makes me wary if someone is considering GMCU as a forex trading provider, as the infrastructure for actual trading appears absent. Moreover, user feedback on customer service is a bit concerning, mentioning delays and lack of helpful guidance. For me, reliable support is essential, especially when dealing with financial matters. The risk indices and the "medium potential risk" warning reinforce my conservatism here; I cannot ignore these red flags. Overall, while GMCU may be a legitimate financial institution for traditional banking, I would be extremely cautious and conduct further research before considering them for anything related to forex trading or investment management.