GCI Trading Review Unbiased Pros & Cons Revealed️
You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money. The trading platforms are described as user-friendly, intuitive, and customizable, with charting tools and news, analysis reports, and financial calendars. Both platforms are offered in several languages which include English, German, Spanish, French, Turkish, Russian, and Arabic. A perfect fit for traders who desire a streamlined and intuitive platform, the ActTrader Account offers a holistic trading experience.
GCI Financial Alternative Brokers
GCI Trading offers ActTrader and MetaTrader4 as the two trading platforms which are also linked to their respective account types. The minimum deposit at GCI Financial is $500 which is higher than the standard deposit requirement of most forex brokers. 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.
Empowering Introducing Brokers: A Comprehensive Suite of Resources by GCI
Or secondly, you can opt to use the MetaTrader 4 platform that is a familiar site across the industry. GCI Trading provides two platforms each linked to their respective account types, namely the ActTrader and MetaTrader 4 platforms. GCI maintains a balance sheet with Net Capital in excess of most minimum regulatory requirements.
GCI Regulation and Security
- 72% of retail investor accounts lose money when trading CFDs with this provider.
- Despite what they may try to convince you, GCI Financial is unregulated.
- The broker offers over 300 tradable assets and two powerful trading platforms, although its regulatory status and trust score has been called into question by our experts.
- 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.
Trading successfully relies heavily on knowledge and understanding of the markets, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with. Most traders seek out brokers who can offer some level of safety and security for their investments within the highly volatile forex market. GCI Trading is an offshore broker which is not regulated by any governing body.
Such a number will certainly give you more opportunities to find an asset which you are most comfortable to place your investments and convert them into sizable revenues. For such a high minimum deposit requirement, GCI Financial gets a score of 1/5. GCI Financial is an unregulated offshore trading brokerage offering Forex and CFD. You have to get your money back using the same method you used for a deposit up to the amount you deposited. Then, the remaining sum will be transferred through a bank wire or PerfectMoney account.
As part of its security management, it only partners with top-rated banks in storing the funds of its clients. It also ensures that accounts are segregated from one another and that these are also separated from the broker’s corporate funds. This assures clients that even in an unlikely scenario where GCI declares bankruptcy, their own money will not be affected. Potential traders need to do as much as possible research about speculative trading before commencing to do it and while trading.
Withdrawals are processed within three business days after the receipt of the necessary regulatory paperwork. 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 https://traderoom.info/gci-broker-overview/ customer. GCI Financial is a forex and CFD broker who prides itself on offering industry-leading trading conditions through advanced trading software. And with over eighteen years in operation, GCI Financial is one of the more established players in an increasingly crowded market.
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. Spreads depend on current market conditions and may vary causing the spreads to be narrower or wider.
DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with GCI please share your personal review of the broker and what you think are strong and weak points. Traders need to evaluate their objective, level of risk exposure and willingness to be exposed to risks, according to research done in South Africa. He has more than 10 years of experience in trading and helps people get rich. Anna’s lessons, interesting articles in the field of financing will always help you manage your money properly.
The broker’s regulatory status and safety measures ensure the protection of client funds. Educational resources further enhance the trading experience for both new and experienced traders. While there are some areas where improvement could be made, overall GCI Financial presents a reliable choice for traders looking to engage in forex and CFD trading. The ActTrader Account is ideal for traders wishing to trade currencies and other major financial products with a low minimum transaction size and user friendly interface. Only $500 is needed to open, traders can trade up to 10,000 currency units per lot and can maintain several accounts simultaneously. 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.
However, it offers a nice range of functionalities, including automated trading and full customization. If you choose this software, you will be able to trade on currencies, indices, and metals, with the spread ranging https://traderoom.info/ from 1-2 pips for Forex majors. GCI proudly introduces ECN trading capabilities on our renowned MT4 trading platform, presenting a unique blend of state-of-the-art technology and optimal trading conditions.
Positions will be automatically closed once usable margin drops below zero. GCI Trading offers commission-free trading with some of the most competitive fixed spreads on the markets, which start as low as 1 pip. Traders should always note that spreads depend on current market conditions and they may vary causing the spreads to be narrower or wider. The broker offers the MT4 and ActTrader platforms and if you opt in for MT4, you will be able to choose between a dealing desk and ECN execution. Strange as it may seem, ECN spreads are higher than traditional ones, which are as low as 1 pips on EUR/USD.
For those seeking a more comprehensive trading experience, MT4 is one of the most popular online trading platforms for traders of all experience levels. GCI offers a decent breadth of tradeable financial assets on the MetaTrader 4 and ActTrader platforms. The broker also offers commission-free accounts as well as a fully-featured demo account.
This means that the firm has no oversight over its business handling, and thus is not forced to protect traders to the same degree that licensed brokers are. GCI is also not required to submit any revenue data or annual financial statements for auditing, which is concerning. With that said, the broker assures clients that funds are segregated in top-rated bank accounts.
At GCI, we recognize the pivotal role that money managers and trading managers play in steering the financial landscape. To that end, we’ve marshaled an impressive array of dealing and technological tools tailored to cater to the diverse needs of these financial stewards. When you’re eager to embark on GCI’s ECN journey, simply choose any instrument listed under the «ECN» folder within your GCI MetaTrader account. This can be easily accessed by right-clicking in the MarketWatch window and selecting «Symbols». A financial glossary is available and an ebook on the most beneficial use of their two trading accounts can be downloaded.
