GCI Trading Review Forex Brokers Reviews & Ratings

Accounts are commission-free, so its just the spread to take into account. Read through our introductory course to financial advisors. While GCI Financial Group advises clients across a variety of portfolio sizes, the average client balance is currently $822,327.

Usually, we don’t say that because there are always two sides of the medal and there are always trader that call a broker a scam but in this case it’s pretty obvious. 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. In comparison a Home Internet connection has no backup and can vary in reliability. We provide all services on a month-to-month basis (unless you have chosen to pre-pay for multiple months).

They are highly regarded by many traders as a reputable Forex and CFD broker with reliable services. Having a broker that provides a wide range of assets allows you to increase your chances of making a profit and fortunately, GCI Financial has a total of 283 tradable assets to offer. 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. GCI Financial offers ActTrader and MetaTrader platforms which are both very stable. I highly appreciate that they’ve tried to offer something completely new to the public and the end result is a platform that is quite easy to navigate and understand most especially for novice traders.

Recommended broker

To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Financial advisory firms charge fees in different ways, such as a percentage of your assets (aka AUM, or assets under management), an hourly fee, or a fee for a specific service. Find out what fees GCI Financial Group charges by checking out its Form CRS (“Customer Relationship Summary”), which lists the company’s specific prices. To learn more about different types of pricing models, see our article on how much a financial advisor costs. 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.

Up to $500 is available for the referred traders and up to $1000 for the referrer. The cash deposit is made as soon as both accounts have been funded. Only $500 is needed to open this account and in addition to the other products available, traders can also trade gold and equity shares. They can choose either ECN or traditional execution and there are no requotes or delays. GCI Financial has been in operation since 2002 and has a good standing in the market as proven by the user comments which are generally positive.

Client trading performance is enhanced by eliminating all commissions and fees. The GCI trading software provides real-time prices in all major currencies, market indices, shares, and commodities. In addition to Forex, GCI offers trading in indices, shares, and commodity CFDs, as well as options on most products. Clients have complete control over whether they close or hedge their positions to reduce risk. GCI also has a “zero slippage guarantee” for all Forex Stop and Entry Stop orders. GCI provides access to Forex, share, and index trading with margin requirements of 0.5% on Forex, 1% on Share Indices, and 5% on individual shares.

Frequently Asked Questions

Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Questions to ask
Regulatory disclosures state that firm sells proprietary investments and products. Please provide me a list of the products and a summary of how much your firm earns from them. Firm or an affiliate actively engages in business as a law firm or lawyer.

Traders with this account also receive 4% on their account balance. 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.

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GCI Trading, established in 2002, (formerly GCI Financial), is a Forex and CFD broker headquartered in Anguilla, British West Indies. It is the recipient of multiple industry awards over 13 years, including the Best Forex Broker Europe 2014. 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.

With almost twenty years’ experience behind it, and numerous industry awards to their name, there are few brokers with the same reputation in this space as GCI Financial have. When it comes to actually trading on the GCI Financial platform, two main options are provided. Firstly, you can use the proprietary trading platform developed in-house by GCI Financial—the ICTS trading platform. Or secondly, you can opt to use the MetaTrader 4 platform that is a familiar site across the industry. Their range of trading instruments and the assets may be good but the spreads are not that enticing and falls within the midrange. Overall, GCI Financial scored moderately well on our key parameters.

Forex VPS hosting for MT4 and Expert Advisors

GCI Financial maintains an insurance policy from Allied International Group () covering all customer funds. Furthermore, GCI has years of experience managing risk and a strong balance sheet with net capital in excess of https://traderoom.info/ most minimum regulatory requirements. GCI’s professional staff is available 24 hours a day to answer questions and provide assistance via Live Chat, and their technical and administrative support is second to none.

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. 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 customer. GCI offers online trading in both Gold and Silver – commission free with low margin requirements.

GCI offers Binary Option trading from the ActTrader platform. 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. Our service is not exclusive to trading, and can be used with any regular Windows application, as well as all types of trading, all brokers, and all software platforms. Each VPS is deployed with an isolated installation of Windows Server 2008 R2 (or 2012), which looks and responds just like a normal PC. You can launch Chrome or Firefox to browse the internet, access email, etc., and download any applications that you might need.

We accept Credit/Debit Cards, PayPal, Skrill and Coingate (Bitcoin & Cryptocurrencies) payments. If you overpay, credit will be applied to your account; this allows you to prepay if desired. Account credit is always used before charging other type of payments for ongoing service (if there is no active PayPal subscription). Any EA requires the trading terminal to be running 24/7. If the trading platform is offline or shutdown the EA ceases to function. We offer you access via any smartphone, tablet or PC so you can log in and check on the status of your platform at any time.

Another good perk of third-party platforms is the accessibility of a Demo account. Instead of being pressured to decide immediately, you can test both platforms through a risk-free Demo and see if you wish to invest. You can visit our feedback page to see what some of our satisfied clients have to say about our services. We’d also be happy to answer any questions you may have by email or through our Live Chat. Our client is a financial organization providing banking services to individuals and businesses in North America.

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. While the minimum deposit is the same, accounts differ slightly in terms of platform and how you trade.

It is our organization’s mission to provide unbiased and objective information. The investor.com website utilizes verified data from reputable sources, which includes the Securities and Exchange Commission (SEC); however, it can vary from time to gci financial review time. Investor.com is not endorsed by or affiliated with the SEC or FINRA. A regulatory agency has previously denied, suspended, or revoked the firm’s or an advisory affiliate’s registration or license or otherwise restricted their activities.

• For this reason GCI Financial’splatform gets a score of 9/10 points on our charts.
• GCI Trading offers everything a Forex and CFD trader needs.
• Their staff deliver modern banking solutions tailored to the needs of their individual clients.
• Clients have complete control over whether they close or hedge their positions to reduce risk.
• GCI Financial (“GCI”) is a securities and commodities trading firm, specializing in online Foreign Exchange (“Forex”) brokerage.

Firm can legally elect to accept commissions for their investment advisory services. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. While this allows for a broader range of investment options and management styles to be offered by a firm, it can create an incentive for the firm to put their financial interests ahead of your own. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest.

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. For more information on how investor.com rates and reviews firms, please see the Trust Algorithm page. This situation may lead the firm or a related person to recommend proprietary investments and products that could generate larger commissions than other similar non-proprietary products. This could also limit the number and diversity of investment options available and may impact their transferability. Firm offers products that have performance-based fees; the managers of those products may be incentivized to take inappropriate risks to beat their performance benchmark.

I would have liked to see a few more interesting bonuses or promotions but this doesn’t take away from the other features offered by this broker. The Refer-a-Friend promotion is available for all account holders who refer a friend that opens a live account. A Real Cash Deposit is deposited into the referrer’s account as well as the account of the referral.

We are committed to the fair handling of reviews and posts regardless of such relations. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.

GCI Financial was a bit boring when it comes to the layout and design of their trading platform. They claim to offer a very modern and sleek design but in reality it wasn’t as contemporary although it was as fluid as they promised. Browsing through the trading instruments and various sections doesn’t take a lot of getting used to and even placing a trade was pretty easy. ECN, or Electronic Communication Network trading, means that the broker gives customers access to a pool of liquidity providers who trade against them. At the same time, the broker is charging a commission for middleman work. We found two trading platforms on offer – ActTrader and MetaTrader.