Available deposit currencies include EUR and USD, and deposits can only be made by account holders. GCI Trader offers two account types, namely the ActTrader account and the MetaTrader account. Leverage is essentially a loan granted by the broker to the trader, and is expressed as a ratio. While the mechanism does allow for more potential profits, it also carries the heavy risk of severe losses, especially for those intending on investing a large sum of money. Leverage is a widely used mechanism in the forex industry today, as it allows traders to open larger and more potentially profitable positions than they would have been able to do on their initial investment. This security is best provided by brokers who operate within jurisdictions that have strong governmental oversight and are authorized by reputable regulatory bodies, such as the FCA in the UK and CySEC in the EU.
Forex Scams
I was disappointed to find that GCI Financial only offers funding via bank wire transfer or Perfect Money. The lack of flexibility will be limiting for traders since most brokers like XTB offer bank transfers, credit cards, and a range of e-wallet payments including Skrill or PayPal. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms. Founded in 2002, GCI Financial Ltd offers over 300 tradable financial assets and educational tools for both beginners and experienced traders. The company has clients from all over the world, including Europe, India, and Australia.
GCI Trading Customer Support
However, the broker does not support deposits in GBP, which means traders may be subject to currency conversion fees. In addition, many popular transfer methods are not available, which further adds to the broker’s inaccessibility for UK traders. Add in the lack of FCA oversight and British traders may want to https://traderoom.info/gci-broker-overview/ think twice. In terms of security, the broker’s site is fully encrypted, and the trading platforms offered also provide their own encrypted transactions. The ActTrader platform provides newer traders with a powerful, easy-to-navigate interface, whilst MT4 is ideal for implementing complex trading strategies.
Trading Platform
- 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.
- The lack of flexibility will be limiting for traders since most brokers like XTB offer bank transfers, credit cards, and a range of e-wallet payments including Skrill or PayPal.
- DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.
- GCI Financial Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this GCI Financial Review.
- The landscape of available brokers is broad, making the decision a difficult one at best.
- With that said, online customer reviews don’t suggest that the broker is a scam.
Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker. On both accounts, the minimum deposit required is $500 and investors can also opt for a managed account with a minimum deposit of $10 000. GCI Financial has been in operation since 2002 and has a good standing in the market as proven by the user comments which are generally positive. They are highly regarded by many traders as a reputable Forex and CFD broker with reliable services.
GCI Trading Information 2024
The minimum deposit for a basic account with GCI Trading is $500, and investors can also opt for a managed account with a minimum $10,000 investment. Deposits and withdrawals for GCI Trading clients can be made via wire transfer, credit card, WebMoney, Moneybookers, Liberty Reserve or cashU. While access to such a high leverage is a strong incentive to sign up with this broker, the mechanism should only be used in full by experienced traders who have a sound understanding of the forex market. GCI offers six basic research and analysis tools that can be fully utilized by all of its clients.
With almost twenty years’ experience behind it, and numerous industry awards to their name, there are few brokers with the same reputation in this space as GCI Financial have. Should you run into any problems, the customer service team are always on hand to provide you with fast and effective support. Members of the support team are available 24 hours a day, five days each week, with support provided via email, phone, and live chat. GCI Trading offers excellent multilingual customer support in English, German, Spanish, French, Turkish, Russian and Arabic.
In the world of forex broker companies, it counts much for the company’s reputation if it has been honored with awards from esteemed organizations or publications. GCI Financial’s minimum size is 0.01which isa tad higher than the standard range. That means the risks are a bit increased so this may disappoint investors who want to start out with a very lowlot size.
The MetaTrader account also gives you a choice of ECN or traditional execution, no requotes or delays, and NDD instant execution in major currencies. All applications are subject to GCI Financial review, and then accounts may be funded via wire bank transfer. Original account documents may be filed online or printed and mailed to GCI Financial to allow review of each account for security. Traders are also able to monitor both usable margin and used margin in real-time from the “Account Information” window of the online trading platform.
Daily trading signals are posted online as well as real-time Forex price quotes and there is a full economic calendar with up-to-date events scheduled to take place throughout the world. Overall, the security measures provided are not enough to protect traders sufficiently. It is always worth thoroughly read the terms and conditions of any bonuses before committing, especially https://traderoom.info/ at unregulated brokers. We often find difficult to meet volume requirements that make withdrawals challenging. GCI offers a customer support help desk in eight different languages, including English, German, Russian, and Japanese. The apps are compatible with both iOS and Android devices and can be downloaded for free from the Apple App Store or the Google Play Store.
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