GCI Financial is an offshore forex and CFD broker based in Saint Lucia and established in 2002. 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. This review will cover GCI’s safety and security features, plus market access, fee structure, account types, how to open an account, and more. GCI Financial Ltd is an award-winning forex and CFD broker offering the MetaTrader 4 (MT4) and ActTrader platforms. Our review of the broker’s services covers the software downloads, available markets, demo accounts, and customer support.
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- The MT4 platform is a classic in forex and CFDs trading, which doesn’t make it surprising that this is one of GCI’s main platforms.
- Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss.
- The ActTrader account requires 10,000 currency units for every parcel, while the MetaTrader account requires 100,000 currency units for each part.
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 think twice. We were pleased to see that GCI offers several avenues for customer support, including multilingual 24/5 live chat and telephone support, as well as account managers (only for certified, high-value traders).
How To Place A Trade
Trading directly from charts, fractional lot capabilities, the ability to program trading signals, and unlimited charts and technical indicators are among the many benefits. All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays. GCI has become one of the most recognized and leading online forex brokers with a global client base of over 10,000 that includes professional money managers, financial institutions and individual traders. 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.
Mini Account
As expected, swap rates do apply for the standard account types, with overnight rollover fees varying depending on the asset’s trading conditions. There are many nice features at GCI Trading but the one I found the most impressive was the actual website. All the information any trader could need to clearly outlined on the various pages of the site and the tabs at the top of the page cover all topics.
This tangible token of our appreciation is over and above any other promotional bonus or margin incentives we might be offering. Potential traders need to do as much as possible research about speculative trading before commencing to do it and while 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. 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. However, the broker does not support deposits in GBP, which means traders may be subject to currency conversion fees.
Compare GCI with Other Brokers
All applications are subject to verification by GCI Trading and when you are accepted accounts can fund it with USD or EUR currencies using several payment methods. Overall, the education section is disappointingly outdated and bare, providing little value for traders. Nonetheless, I did like that you get a free Forex e-book upon registration and receive 4% interest paid on the account balance.
GCI Forex allows traders to implement any trading strategy they prefer, including scalping, hedging, and automated trading. 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. One of the benefits of being so long in operation is that GCI Financial has really streamlined their back-office operation. New accounts can be set up and processed very efficiently, meaning you can be up and trading within a matter of hours.
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. 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. Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Before starting to trade, potential GCI Trading clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If GCI Trading’s website itself does not provide enough means, a trader should explore other information https://traderoom.info/ sources to obtain that skills and knowledge. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. GCI Trading’s margin requirements are $25 per lot on all Forex instruments for the ActTrader account.
For its Muslim clients, GCI trading offers SWAP trading accounts for use in trading according to Sharia law. The GCI forex broker’s trading platform is available in a variety of languages, including English, Spanish, French, German, Russian, Chinese, Japanese and Arabic. GCI Trading India is overseen by numerous regulatory agencies, including the Ministry of Finance, Insurance Regulatory Authority of India and more. However, the platform is not available as browser-based, meaning the download and installation are required. GCI offers both the ActTrader and MetaTrader 4 platforms in mobile application forms, permitting brokers to get to the markets and deal with their records from compact gadgets.
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. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI has come to be one of the greatest recognized and important online forex brokers with a worldwide customer base of over 10,000 that comprises expert money managers, individual traders and financial institutions.
This GCI Financial Review concludes that the GCI Trading forex broker is highly respected in the industry and offers a wide range of financial assets for trading in international marketplaces. Although the CGI Trading broker does not accept clients in the United States, it serves a broad global client base and has received numerous industry awards and recognition. Investing in assets such as stocks, bonds, cryptocurrencies, https://traderoom.info/gci-broker-overview/ futures, options, and CFDs involves considerable risks. CFDs are especially risky with 74-89% of retail accounts losing money due to high leverage and complexity. Cryptocurrencies and options exhibit extreme volatility, while futures can also lead to significant losses. Even stocks and bonds can depreciate quickly during market downturns, and total loss can ensure if the issuing company fails.
