Low spreads, easy deposit and withdrawal, convenient customer support.
High fees and other non-trading payments charged.
GFT Forex offers low spreads, which is the biggest selling point of the company. Choose GFT if low spreads are your topmost priority.
GFT Forex Trading Broker Review - Does it really pay to trade with GFT? Let's find out...
GFT or Global Forex Trading was established in 1997, and since then it has grown globally with clients in more than 120 countries. The company is a member of the FCM, and registered with the CFTC in the United States, which makes it a well-regulated online forex broker.
Trading Services Offered
GFT Forex Trading offers trades in seven leading currencies from the developed countries and 12 from developing countries, and their cross exchanges. Details such as currency name, size of tic, sizes of spread and point, time of largest liquidity, middle day transaction volume, and terms of delivery are listed on each currency. Trade in all currency exchanges is offered with variable financial leverages ranging from 400:1 to 1:1.
Supporting margin size is set to 25 percent. Minimum deposit requirements to open an account range from $250 to $10,000, depending on the type of account. Deposits and withdrawals can be done easily through traditional methods such as cashier’s checks or wire transfers. Hard copy agreement must be signed while opening an account with GFT. The company charges fees and payments for several non-trading activities such as account passivity, money withdrawal, and funds transfer from one account to another.
Customer Support and Training
Customer support is available in English and Japanese when using GFT. Demo accounts are offered for beginners. Interactive customer support is available via phone, live chat, and online forum. A free of charge calendar of events is provided for the customers. News and analysis reports are chargeable. Another chargeable set of services is provided for experienced traders.
Innovative Trading Platform
Dealbook 360, the innovative trading platform of GFT provides both basic trading facilities and graphic analysis. The unique feature of Dealbook 360 is that it allows direct trading “with the graph” and order changes can be done by moving the line, which gets illustrated on the graph. The platform can realize the sets of popular technical indicators, which is another original feature.
Dealbook 360 offers a wide range of charts and tools, which can be customized to suit your trading style. Dealbook WEB allows you trade from any computer anywhere in the world with real time pricing and charts. Dealbook Mobile enables trading through your mobile phone, iPhone or Blackberry with price alarms and multiple order types.
One of the strong points of GFT Forex Trading is its low spreads for various currencies. GFT provides spreads as low as one pip on major currencies. It offers quick order execution on over 120 currency pairs. EUR/USD and USD/JPY, which are the leading currency pairs, can have spreads as low as 0.8.
What Others are Saying
Customer reviews about the GFT Forex Trading platform remain mixed. Some users are happy with the company’s round the clock customer support and service, convenient deposit and withdrawal of funds, and an excellent charting package. Spreads are low compared to several leading online forex brokers, which is an attraction for many. However, the non-trading costs and fees disappoint many customers. They feel the company’s pricing is not transparent. GFT claims to offer the lowest spreads or costs but they hit you up in other ways balancing out their impressive spread fees. In essence, the effective costs of trading are just the same as other brokers.
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Company and Product Information
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