14 Dic GCI Brokers Review 2020 Are They Trustworthy?
Before deciding to join a broker and start trading, a potential trader needs to establish whether a broker like GCI Trading is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions. Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market. GCI Trading does not charge any commission and offers fixed spreads starting from 1 pip. Spreads depend on current market conditions and may vary causing the spreads to be narrower or wider.
You can visit our feedback page to see what some of our satisfied clients have to say about our services. We’d also be happy to answer any questions you may have by email or through our Live Chat. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. As mentioned by GCI Payments Dpt, company policy is to not provide statements directly but rather have our clients being able to generate them from their end and at their own convenience.
GCI does not charge for sending wire payments, however transfer fees that are applied by their remitting banks or payment system providers are automatically passed through to the customer. A forex account is a trading account held by a trader with a company like GCI Trading, that is issued with the primary purpose of trading through its platforms. It is the most common practice of unregulated brokers that they provide incomplete information to hide their identities. Likewise, GCI brokers have not provided the details related to their minimum withdrawal amount policy, withdrawal fee policy, dormant account policy, and the fee of inactive accounts.
Compatible with all major platforms.
In all respects, he is a very attentive and professional GCI representative. And for the record, since this also appears to be a major concern on the forums, I confirm that I have made a few https://forexarena.net/ withdrawals from my trading account in 2017 and a recent one in 2018. I asked them some days ago about sending me a statement about deposits and withdrawals, but they simply don’t answer.
When it comes to actually trading on the GCI Financial platform, two main options are provided. Firstly, you can use the proprietary trading platform developed in-house by GCI Financial—the ICTS trading platform. Or secondly, you can opt to use the MetaTrader 4 platform that is a familiar site across the industry. There are many nice features at GCI Trading but the one I found the most impressive was the actual website. All the information any trader could need to clearly outlined on the various pages of the site and the tabs at the top of the page cover all topics. Although the graphics are few, the text is easy to read and is neatly outlined.
GCI Financial deposit and withdrawal methods are not many. The funds are transferred either by bank transfers or an e-wallet – Perfect Money. Deposits can be made by the GCI account holder only.
Is IQ options a good broker?
Overall, IQ Option can be summarised as a trustworthy broker with a good reputation that provides a user-friendly trading dashboard, and quality educational materials. IQ Option is very competitive in terms of its trading fees with spreads well below industry standards. IQ Option has a trusts score of 89 out of 100.
GCI also offers Forex and CFD trading on the popular MetaTrader 4 trading platform. Trading directly from charts, fractional lot capabilities, the ability to program trading signals, and unlimited charts and technical indicators are among the many benefits. MetaTrader4 is ideal for novice traders and professionals alike. All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays. Demo accounts are free with 50,000 in virtual cash. One of the first and most basic decisions related to trading forex involves the selection of a forex broker that suits your style and desire for safety and soundness.
The accuracy of the quotes that are provided by your broker must also be checked because this will have an impact on the success of your trades. As for GCI Financial, there weren’t any re-quotes and closing most of the deals was very fluid as it didn’t experience any lags. The primary reason why forex trading has gained so much popularity is because the profits are promising. In terms of the trading conditions on offer, GCI Financial offers a pretty decent trading environment all things considered.
Is GCI Financial A Safe Forex Broker? ForexFraud Review
Furthermore, GCI has years of experience managing risk and a strong balance sheet with net capital in excess of most minimum regulatory requirements. •Low margin requirements.GCI provides access to Forex, share, and index trading with margin requirements of 0.5% on Forex, 1% on Share Indices, and 5% on individual shares. Tickmill continues to grow from strength to strength by offering traders just what they need to be successful in the markets. This is in addition to any bonus margin or other promotions. At the time of this review the only other bonus was a 30% welcome bonus on ECN accounts.
This is where i think a few of people are also missing it. Again, given scalping is not allowed on their platform, it makes sense to know that EAs are a no no. Personally, my trading strategy looks at Supply and demand interplay, with few good indicators and a look into how futures market is playing out. For me, I think they have a very amazing price feed and conditions if you really know what you are doing as a trader. Most traders seek out brokers who can offer some level of safety and security for their investments within the highly volatile forex market.
If you are looking for a well-established online broker with a strong balance sheet and commitment to providing a no-fuss approach to trading, you could do a lot worse than choosing GCI Financial. The MetaTrader4 platform is accessible from PC, iPhone, iPad, Android, or other mobile devices and there are free demo videos available that explain the download process for these as well as for PC’s and Mac’s. There are two trading accounts to choose from at GCI Trading. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. I have been in direct contact on live chat and over the phone with Jacques Debruyne.
What is the most trusted regulated forex broker?
- IC Markets.
- Saxo Bank.
- CMC Markets.
Although the processing time is quite fast, the method of cashing out is quite a disadvantage and takes a lot of effort. GCI Financial was a bit boring when it comes to the layout and design of their trading platform. They claim to offer a very modern and sleek design but in reality it wasn’t as contemporary although it was as fluid as they promised. Browsing through the trading instruments and various sections doesn’t take a lot of getting used to and even placing a trade was pretty easy.
GCI Financial Overall Ranking is 3 out of 10 based on our testingand compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers. Besides, the company was previously regulated by the Belize IFSC, yet withdrew its license and is not regulated by any authority. Moreover, there were warning against the company by some of the authorities, as well as negative feedback from many investors with cases to withdraw money. Despite this, St. Vincent and the Grenadines is in a known offshore zone, while the company operates without any license to perform its services. GCI Financial is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Thus, the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.
GCI Trading is an established forex broker company in the West Indies. Finding a reputable gci trading review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. Below is an in-depth review regarding GCI Trading to help you make an informed decision before opening your account or trading on their platform.
Technical Analysis – Price Action Trading (Part
Also I have 2nd account with another company, but I cannot find it in this list. So this broker is well-known in our country and seems they are worried about their reputation. They have few instruments, other brokers have much more. No problems with withdraw and deposits, but executions is random – from 2 to 5 secs.
And with over eighteen years in operation, GCI Financial is one of the more established players in an increasingly crowded market. I left a review with GCI some few months ago and I promised to update it with time. Apparently the 4 digit server which gci gives clients are actually market made so in other words, there is a dealing desk so when you make money on that server, be sure you will be stopped! GCI gives this as default to clients because they are very aware 80-90% of traders will face so the odds is good for them. I won’t penalise them for having a business strategy but I still find it not ethical to open up.
This relationship may introduce bias where a firm or related person recommends certain securities with which they are affiliated, rather than others that may have higher returns. The firm’s website is not secure by modern internet standards. Unlike HTTPS connections, HTTP connections are not encrypted.
In the past ten years, a regulatory agency other than the SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Hello everyone stop losing your hard earn money to fake brokers, if you are interested in trading binary option, recovery of lost funds from those heartle… Employees of GCI are engaged in multi-registrations and, under the guise of users and traders, they are advertising their own fraudulent company that simply does not withdraw money. If you invest into this broker, you can consider your money gone. Some might try to open small fund into them at first and withdraw them for trials.
GCI Trading Safety and Security
If the broker can not provide a minimum service to its traders for withdraw funds – it does not deserve any trust ! Apply to the relevant lawyers or write to regulators, if they are of course still there. GCI Financial is not the smallest Forex broker but that doesn’t mean that it’s a reliable one.
- GCI does not charge for sending wire payments, however transfer fees that are applied by their remitting banks or payment system providers are automatically passed through to the customer.
- •Client Service.GCI’s professional staff is available 24 hours a day to answer questions and provide assistance via Live Chat, and their technical and administrative support is second to none.
- Please be aware of your investment into trading markets which is high risk and not suitable for everyone.
- 7.25 % difference in 8 days for AUDUSD swap long.
- Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties.
We go beyond the quantities or amounts to make a real and measurable review that is based not just on the pros but also on the cons. With GCI Financial, contacting their support team can be done via phone, chat, fax or email. The live chat was the one I presumed to be the easiest since I was already online and it was quite indeed fast as it only took less than 30 seconds before I was able to start a chat session with a person named Roger. I must say, he was very helpful and very quick in responding to my queries. •Zero commissions.Client trading performance is enhanced by eliminating all commissions and fees.
Which is the most trusted brokerage in the world?
- Best Overall: Fidelity Investments.
- Best Broker for ETFs: Fidelity Investments.
- Best Broker for Low Costs: Fidelity Investments.
- Best Broker for Beginners: TD Ameritrade.
- Best Broker for Mobile: TD Ameritrade.
- Best Broker for Advanced Traders: Interactive Brokers.