GCI Trading Review 2023 ️Pros and Cons Revealed

All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Only the NFA regulated brokers featured on this site are available to U.S. customers. 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 landscape of available brokers is broad, making the decision a difficult one at best. If you want to deal with an innovator and seasoned broker, then GCITrading.com is for you. GCI Financial (“GCI”) is a securities and commodities trading firm, specializing in online Foreign Exchange (“Forex”) brokerage. In addition to Forex, GCI is a primary market maker in Contracts for Difference (“CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services.

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While contract for differences trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument. Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. As a result, we do not support personal reviews on the site.

Binary Options trading is also available which allows traders to bet on Forex, Gold, Crude Oil, and Stock Indices, receive a 15% consolation for any losing bets or make 100% per bet. I was pleased to see when doing this review that a demo account can be set up with either of the two accounts. With the demo account, a trader can practice trading Currencies, Gold, Crude Oil, Stock Indices, and more with no risk while earning 4% interest on his balance. Forex brokers often lure new traders with offers of deposit bonuses.

• 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.
• All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays.
• You can access your VPS using the Remote Desktop Connection at any time and you will see that your platforms are still running as you left it.
• If there is a choice, the trader should keep in mind what he would like to trade.

GCI Trading’s margin requirements are $25 per lot on all Forex instruments for the ActTrader account. On the MetaTrader account, it is $250 per lot on Forex, $25 per 0.1 lots, equivalent to approximately 0.25% margin. GCI Trading can maintain these low margin requirements by enabling automatic liquidation of positions once a margin call is reached. GCI Trading does not charge any commission and offers fixed spreads starting from 1 pip.

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In the past ten years, firm or an advisory affiliate has been convicted of or pled guilty or nolo contendere («no contest») in a domestic, foreign, or military court to a felony. Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. Paste link of the video with a detailed description of your claims. Internet Connection Stability – Our VPS solution offers a professional setup. We have a high grade Internet connection and multiple backup connections in case one or more go down.

If there is a choice, the trader should keep in mind what he would like to trade. GCI Trading offers ActTrader and MetaTrader4 as the two trading platforms which are also linked to their respective account types. 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. Firm performs side-by-side management with accounts that have differing fee structures. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their clients.

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. In terms of the trading conditions on offer, GCI Financial offers a pretty decent trading environment all things considered. GCI Financial a zero commissions broker, and provide relatively low spreads with similarly low margin requirements. GCI offers online trading in both Gold and Silver – commission free with low margin requirements. GCI offers Binary Option trading from the ActTrader platform.

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This is definitely bad news for newbie traders because they will be required to fork out a considerably high amount in order to open an account and be able to trade. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. For instance, research has shown that mutual funds that use incentive fees take on more risk than funds that do not, and tend to double down and increase their risk following a poor performance. This could be detrimental to a client during down markets. You can fund your GCI account with a Bank Wire Transfer, Credit Card, or major online e-payment services. Withdrawals are processed within three business days after the receipt of the necessary regulatory paperwork.

Some traders lost thousands of dollars due to these adjustments are not happy about it to say the least. 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. GCI Financial deposit and withdrawal methods are not many. The funds are transferred either by bank transfers or an e-wallet – Perfect Money.

Based on our finds about the safety and regulations issues of GCI Financial, we do not rank positively GCI Financial, based on our Expert Opinion with over 10 Years of experience in Forex Trading. •Rapid and fair trade execution.GCI also has a “zero slippage guarantee” for all Forex Stop and Entry Stop orders. •Hedging Capability.Clients have complete control over whether they close or hedge their positions to reduce risk.

Generally, we do not advise investing with unregulated brokers. Even though the offering and the trading capabilities may offer a very attractive package, safety always goes first. Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds. He has an inside knowledge of how the financial markets work, thanks to roles including trader on a $750m Event-Arbitrage desk and CRO and COO of hedge funds running a variety of strategies. From stat-arb and trend-following CTA to fixed-income relative value. Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D.

Open real account or open demo account with GCI

There is no indication of how long a withdrawal takes. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account. There is no indication on the company’s website whether a demo account can be converted into a live account.

There is no dealing desk execution, no re-quotes and scalpers and scalping EAs are welcome. Only $500 is needed to start and there is a bonus of 30% on first deposits. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. 7.25 % difference in 8 days for AUDUSD swap long.

Withdrawals can be made via the same methods listed above. Traders will need to complete a withdrawal form available from the client portal, and email it back to the broker. There are no withdrawal fees and most payment requests are processed within 24 hours. •Zero commissions.Client trading performance is enhanced by eliminating all commissions and fees. 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.

It’s quite impressive that they covered almost all the possible payment options which is an advantage for all types of traders since they don’t need to worry how to transfer funds to their account. A lot of forex traders usually complain about the deferrals in their withdrawals with extended waiting times reaching almost a month. Although the processing time is quite fast, the method of cashing out is quite a disadvantage and takes a lot of effort.

So, after about a year with GCI, I started introducing some of the people I train to them. I contacted my account manager who said they will look into it. They never really did although he came back to me that it was sorted. When I left, they contacted me that they would like to set up a «win-win» deal between us which sounded like a good idea but after over a month I just do not think any serious win-win situation will will come handy.

With over eighteen years in operation, GCI financial are one of the more experienced brokers currently around. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

No problems with withdraw and deposits, but executions is random – from 2 to 5 secs. Orders take very long time to be executed are all market orders are executed at the defavor of the trader since they sytematically requote the price you see on the chart. I would recommend that everybody stays away from this broker since they clearly are frauding their clients. The only good point for those who want to risk going with them is that they offer lot of different instruments . 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.

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. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

gci trading review offers mutual funds that carry 12b-1 fees, which increases the total annual cost of owning the fund . Some firms receive these fees as payments, which creates an incentive to promote them. A regulatory agency other than the SEC or CFTC has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. 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…

By this I mean someone who can read charts, interpret indicators accurately and take https://traderoom.info/s with confidence and not scared to lose on some trades. Their platform is designed mainly for positional/medium/long term trades. You must speak to your account manager and seek clarifications if you are not sure of anything. Secondly, if you are into manipulative trades such as swaps trading, latency arbitrage etc you should also not consider using GCI . This is where i think a few of people are also missing it.

• FX trading can yield high profits but is also a very risky endeavor.
• After 5 days i posted about my problem here, my withdrawal sent.
• Secondly, if you are into manipulative trades such as swaps trading, latency arbitrage etc you should also not consider using GCI .
• So if you are trying out GCIs demo software, beware that it does not behave in any way like their live accounts and you will have no recourse when their rigged system robs you.
• Recent enhancements include the ability to “hedge” .
• Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.

This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus. As a financial advisory firm, GCI Financial Group can provide a variety of financial planning services for Americans. Financial advisors help you achieve your life goals, such as saving for retirement, by creating a comprehensive financial plan and managing your investment portfolio (e.g., stocks, ETFs, mutual funds, bonds). Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. GCI brokers provide a trading platform with the name of VertexFX which is custom-made web-based trading software of their own development.

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. Accounts are commission-free, so its just the spread to take into account. Overall, trading fees are around the industry norm.