GCI Forex Broker

BASIC INFORMATION: Founded in 2002, GCI Financial Ltd offers over 300 tradable financial assets and educational tools for both beginners and experienced traders. The company has clients from all over the world, including Europe, India, and Australia. REGULATORY INFROMATION: LICENSE No valid regulatory information Please be aware of the risk! MARKETS GCI Financial offers over 300 instruments across several asset classes: · Forex – Trade 40 major, minor, and exotic currency pairs including EUR/USD, EUR/GBP, and AUD/USD · Indices – Trade 17 world stock market indices including the FTSE 100, Dow Jones, and S&P 500 · Metals – Trade on gold, silver, platinum, palladium, and copper · Commodities – Trade on oil and natural gas, as well as commodity-backed bonds · Shares – Trade on a range of global shares including Facebook, Deutsche Bank, and Sony SPREADS & COMMISSIONS Spreads start at 1 pip for the EUR/USD and around 2 pips for the GBP/USD and EUR/GBP. Typical spreads on major indices, such as the FTSE and Dax, start at 3 points. Spreads on gold and silver are 45 and 5 respectively. Accounts are commission-free, so its just the spread to take into account. Overall, trading fees are around the industry norm. LEVERAGE Across both MT4 and ActTrader, maximum leverage on currencies is 1:400 while on shares, its 1:20. ACCOUNT TYPES GCIs account offering is based on the two platforms available: MetaTrader 4 and ActTrader. Both accounts require a $500 initial deposit and offer trading in forex, indices, metals, crude oil, individual shares, and commodities. The ActTrader account requires 10,000 currency units per lot, whilst the MetaTrader account requires 100,000 currency units per lot. The MetaTrader account also gives you a choice of ECN or traditional execution, no requotes or delays, and NDD instant execution in major currencies PAYMENT METHODS Deposits Traders can fund their account using several fee-free methods: · Wire transfer – 1 – 3 business days · Perfect Money – 1 business day · Neteller – 1 business day · Skrill – 1 business day The minimum deposit is $500 and there is no maximum deposit limit. Note some methods may charge their own commission fees. Withdrawals Withdrawals can be made via the same methods listed above. 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. TRADING PLATFORMS · MetaTrader 4 · ActTrader TRADING HOURS Forex can be traded 24 hours a day, however for other assets, trading times vary: · North American shares – 9:30 am – 4:00 pm EST · European shares – 3:00 am – 11:30 am EST · Asia-Pacific shares – 8:00 pm – 2:00 am EST, or 8:00 pm – 10:00 pm and 12:30 am – 2:00 am EST, depending on the share. · Commodities – Sunday 6:00 pm – Friday 4:00 pm EST · Forex futures – Sunday 5:00 pm – Friday 4:00 pm EST CUSTOMER SUPPORT GCI offers a customer support help desk in eight different languages, including English, German, Russian, and Japanese. The broker can be contacted via: · Email – info@gcitrading.com · Telephone number – +1 800 604 2457 (24/5 GMT) · Live chat ACCEPTED COUNTRIES GCI accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders cannot use GCI from Afghanistan, Bosnia and Herzegovina, Cuba, Eritrea, Ethiopia, Iran, Iraq, Kyrgyzstan, Laos, Libya, Korea, Sudan, Syria, Venezuela, Yemen, Uganda, United States