It is the recipient of multiple industry awards over 13 years, including the Best Forex Broker Europe 2014. The ActTrader and MetaTrader 4 platforms at GCI Financial both facilitate market analysis using customisable charts and intuitive technical tools. With that said, we recommend https://traderoom.info/ ActTrader to newer traders due to its more user-friendly design, whilst MT4 would suit those looking to implement more complex strategies, or those seeking comprehensive analysis tools. GCI is an unregulated broker with limited safety features or financial oversight.
Recommended Brokers:
Namely, ActTrader enables browser-based software, while MT4 brings in ECN trading. Venture into the shimmering world of online gold and silver trading with GCI, where you trade commission-free, leverage cutting-edge software, and benefit from minimal margin requirements. Embarking on your trading journey with GCI opens the door to a vast ecosystem of over 50 currency pairs available on our Electronic Communications Network (ECN). With trades facilitated through our consortium of bank liquidity providers, you can be assured of a trading experience that is transparent, prompt, and devoid of unnecessary interruptions.
Spreads and Leverage
Despite what they may try to convince you, GCI Financial is unregulated. The company claims to be registered in Saint Lucia, trading under GCI Financial Limited. However, upon checking the register of the country’s authority, Financial Services Regulatory Authority, we didn’t find the owner or the brand.
GCI Financial Company Details
All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays. GCI Financial is a reputable forex and CFD broker with a long-standing history in the industry. They offer a wide range of trading instruments, competitive spreads, and leverage ratios. The MetaTrader 4 platform provides traders with a user-friendly and feature-rich trading experience.
- The broker offers trading in over 30 currency pairs, across various trading platforms, with fixed spreads.
- As such, trader funds and interests may not be protected and we urge potential clients to exercise caution.
- Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
- The platform provides a vast selection of tools for traders to use to develop detailed trading strategies, including scalping and swing trading.
GCI offers both the ActTrader and MetaTrader 4 platforms in mobile app versions, allowing traders to access the markets and manage their accounts from portable devices. Users have access to many of the same features as the desktop platforms. You can fund your GCI account with a Bank Wire Transfer, Credit Card, or major online e-payment services.
Features at a Glance:
Deposits less than this will be subject to the regular 25% bonus margin. Traders will need to complete a withdrawal form (online or PDF) 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. Accounts are commission-free, so it’s just the spread to take into account. GCI Trading is able to maintain these low margin requirements by enabling automatic liquidation of positions once a margin call is reached.
Investing.co.uk has been helping British traders find the right broker for over 20 years. Individual assets may vary, with all margin requirements detailed on the GCI website. I was also happy to find that GCI does not charge deposit or withdrawal fees, though external bank or third-party fees may still apply. GCI offers five different asset classes with a total of over 300 tradable CFD instruments. This isn’t the widest selection compared to leading brands like XTB and CMC Markets, but would still offer good opportunities to diversify a beginner’s portfolio. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry.
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. Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade.
Or perhaps a seasoned trader eager to elevate their trading experience? There’s never been a more opportune moment to introduce them to GCI’s stellar offerings. For every individual you usher into our fold who proceeds to open a Live Account, GCI reciprocates your trust. Both your account and that of your referral will be enriched with a Real Cash Deposit. This tangible token of our appreciation is over and above any other promotional bonus or margin incentives we might be offering.
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. 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. GCI Financial offers ActTrader and MetaTrader platforms which are both very stable.
The final grade is given based on GCI Trading FX broker performance and features. Even though the offering and the trading capabilities may offer a very attractive package, safety always goes first. We were happy to see demo accounts on both the ActTrader and MetaTrader 4 platforms, which are ideal for novices looking to browse the platform’s features and practise their skills risk-free. We found spreads at GCI Financial not the most competitive, averaging around 1 pip for the EUR/USD pair and 2 pips for GBP/USD. With that said, there are no commissions on any products, nor any charges for deposits or withdrawals, which helps to keep costs down. The platform provides a vast selection of tools for traders to use to develop detailed trading strategies, including scalping and swing trading.
It offers an extensive product portfolio with competitive trading conditions on two platforms. However, GCI Financial has over 14 years of experience in the forex business and has earned a fairly good reputation among traders – most user reviews about this brokerage are positive. So, if you prefer offshore brokerages for some reason, GCI Financial is a good choice. To make a withdrawal the money will be paid into the trader account via credit or debit card, eCash, or bank wire transfer after a formal withdrawal request has been lodged with GCI Trading. There is no indication of any sign-up or other bonuses offered on the company website.
GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. The platform also offers a wide range of Expert Advisors (EA), allowing clients to fully automate their https://traderoom.info/gci-broker-overview/ trades. In this regard, the broker also provides the use of VPS services to its clients. The broker offers trading in over 30 currency pairs, across various trading platforms, with fixed spreads.