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GCM Prime Forex broker specializes in providing foreign exchange trading services, the company's official website http://www.gcmprime...., the company's legitimate regulatory information United KingdomFCAStraight Through Processing (STP) to enhance the security of the company's address

GCM Prime Forex Broker

Basic Information

Registered Region

United Kingdom

Operating Period

Company Name

GCM Prime Ltd

Abbreviation

GCM Prime

Company employee

Company Website

http://www.gcmprime.com

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Clone Firm United Kingdom

High potential risk

Company profile

Aspect Information Registered Country/Area Estonia Founded year 2-5 years Company Name Aspida Solutions OÜ Limited Regulation Unregulated Minimum Deposit VIP: $150,000, Platinum: $50,000, Gold: $25,000 , Silver: $10,000 , Basic: $5,000 Maximum Leverage Up to 1:10 Spreads Average spread for EUR/USD: 1.2 pips , Average spread for GBP/JPY: 2.5 pips Trading Platforms MetaTrader 5 (MT5) Tradable assets Spot FX, Forwards, Swaps, CFDs, Options Account Types VIP, Platinum, Gold, Silver, Basic Demo Account Not specified Islamic Account Not specified Customer Support Email: support@fx-live.com , Phone: +442038076554 (German) Payment Methods Credit/Debit cards, Bank Transfers, E-wallets Educational Tools Not specified Overview of FX LIVE FX LIVE is an Estonian-based trading platform operated by Aspida Solutions OÜ Limited. As of now, the company does not have valid regulation, which may raise concerns for potential customers due to the associated risks of dealing with an unregulated broker. Traders should exercise caution and thoroughly research alternatives that adhere to proper regulatory standards to protect their investments. FX LIVE offers a variety of market instruments, including Spot FX, Forwards, Swaps, CFDs, and Options. These instruments allow traders to speculate on currency price movements, future exchange rates, and exchange interest payments on different currencies. The platform provides several account types, such as VIP, Platinum, Gold, Silver, and Basic, each offering different leverage levels and requiring varying minimum deposits. The maximum leverage provided is 1:10, allowing traders to amplify their positions. FX LIVE operates with MetaTrader 5 (MT5) as its sole trading platform, offering advanced trading capabilities and mobile access for both Android and iOS devices. However, potential customers should be aware of reviews and allegations suggesting exposure to pyramid scheme complaints and withdrawal issues, particularly in relation to collaboration with foreign entities to deceive investors. Pros and Cons FX LIVE offers a wide range of trading instruments, including Spot FX, Forwards, Swaps, CFDs, and Options. However, it operates without valid regulation, which poses potential risks for traders. The platform provides various account types with leverage options, but there have been reviews suggesting involvement in pyramid schemes and withdrawal issues. While it offers the advanced MetaTrader 5 platform, customer support options are limited. FX LIVE allows for multiple deposit and withdrawal methods, but the minimum deposits for account types may be high. Additionally, mobile trading is available on Android and iOS, but withdrawal fees may apply. It's important to note that the main website is currently inaccessible, which may raise concerns for potential users. Pros Cons Offers Spot FX, Forwards, Swaps, CFDs, and Options Operates without valid regulation, posing potential risks Provides multiple account types with leverage Reviews suggest involvement in pyramid scheme and withdrawal issues MetaTrader 5 platform with advanced features Limited customer support options Multiple deposit and withdrawal methods Minimum deposits for account types may be high Mobile trading available on Android and iOS Withdrawal fees may apply Main website inaccessible Is FX LIVE Legit？ FX LIVE operates without any valid regulation at the moment. It is crucial to exercise caution and be mindful of the associated risks when dealing with an unregulated broker. Potential customers should conduct thorough research and consider alternatives that adhere to proper regulatory standards to ensure the safety of their investments. Market Instruments Spot FX: FX LIVE provides the fundamental Spot FX trading service, enabling simultaneous buying and selling of various currencies, including major, minor, and exotic ones. Forwards: FX LIVE offers Forwards, a type of FX derivative that enables traders to lock in future exchange rates for different currencies, with maturities ranging from one day to one year. Swaps: FX LIVE provides Swaps, an FX derivative enabling traders to exchange interest payments on two currencies, with maturities ranging from one day to one year. CFDs: FX LIVE offers Contracts for Difference (CFDs), which permit traders to speculate on currency price movements without owning the underlying currencies. Options: Traders can access Options through FX LIVE, a type of derivative granting the right, but not the obligation, to buy or sell a currency at a predetermined price on or before a specific date. Customizable strike prices and maturities are available to cater to individual trading preferences. Pros and Cons Pros Cons Allows traders to access various currency types Limited information on specific features and benefits of each account type Limited information on margin requirements and contract specifications Limited information on trading volume and market depth Account Types VIP: The VIP account type at FX LIVE offers a maximum leverage of 1:10, requiring a minimum deposit of $150,000. It supports the use of Expert Advisors (EA). Platinum: FX LIVE's Platinum account type provides a maximum leverage of 1:5 and requires a minimum deposit of $50,000. It also supports the use of Expert Advisors (EA). Gold: The Gold account type offers a maximum leverage of 1:4 and requires a minimum deposit of $25,000. Traders can use Expert Advisors (EA) with this account. Silver: FX LIVE's Silver account type provides a maximum leverage of 1:3 and requires a minimum deposit of $10,000. It also supports the use of Expert Advisors (EA). Basic: The Basic account type at FX LIVE offers a maximum leverage of 1:3 and requires a minimum deposit of $5,000. It supports the use of Expert Advisors (EA). Pros and Cons Pros Cons Multiple account types with different leverage Minimum deposits for some accounts may be high Expert Advisors (EA) supported on all accounts Leverage up to 1:10, too conservative Leverage FX LIVE provides leverage up to 1:10. Spreads & Commissions The average spread for major currency pairs, such as EUR/USD, is around 1.2 pips, while for GBP/JPY, it is approximately 2.5 pips. The commission charged is $7 per standard lot traded. Minimum Deposit The minimum deposits for FX LIVE accounts are as follows: VIP requires $150,000, Platinum requires $50,000, Gold requires $25,000, Silver requires $10,000, and Basic requires $5,000. Deposit & Withdrawal FX LIVE offers a variety of deposit and withdrawal methods, including credit/debit cards, bank transfers, and e-wallets. There are no fees for deposits. Withdrawal fees vary depending on the method used. Processing times are typically 1-3 business days for bank transfers and instant for e-wallets. Trading Platforms FX LIVE provides a single trading platform, MetaTrader 5 (MT5), which offers advanced trading capabilities and features. MT5 allows traders to access various financial markets, including forex, stocks, commodities, and cryptocurrencies. It offers a wide range of technical indicators, charting tools, and order types. The platform supports automated trading with Expert Advisors (EAs) and allows for mobile trading on both Android and iOS devices. Pros Cons Offers Meta Trader 5, a widely recognized and popular trading platform Limited variety of trading platforms Access to multiple financial markets (forex, stocks, commodities, cryptocurrencies) Potential risks associated with automated trading (EAs) Wide range of technical indicators, charting tools, and order types Customer Support FX LIVE offers customer support through email at support@fx-live.com. Additionally, they provide a German phone line at +442038076554 for customers who prefer to communicate via phone. Reviews FX LIVE's WikiFX review (ID: FX2165038301) on May 22, 2021, at 09:03 reveals exposure to a pyramid scheme complaint and recurring issues with withdrawal. Allegations suggest collaboration with foreigners to deceive Thai investors. Conclusion In conclusion, FX LIVE, operated by Aspida Solutions OÜ Limited in Estonia, has several pros and cons. On the positive side, the platform offers a variety of market instruments, including Spot FX, Forwards, Swaps, CFDs, and Options, catering to diverse trading preferences. They also provide different account types with varying leverage options. Additionally, FX LIVE offers the MetaTrader 5 (MT5) trading platform, which supports advanced trading capabilities and automated trading with Expert Advisors (EAs). On the negative side, FX LIVE lacks valid regulation, posing risks for potential customers. Additionally, the company has received complaints regarding a pyramid scheme and withdrawal issues, which raises concerns about its trustworthiness. Traders should exercise caution, conduct thorough research, and consider regulated alternatives to ensure the safety of their investments. FAQs Q: Is FX LIVE a legitimate company？ A: FX LIVE currently operates without valid regulation, so it's essential to exercise caution and consider the associated risks when dealing with an unregulated broker. Conduct thorough research and consider regulated alternatives for safety. Q: What market instruments does FX LIVE offer？ A: FX LIVE provides Spot FX trading for various currencies, Forwards, Swaps, CFDs, and Options with customizable strike prices and maturities. Q: What are the different account types at FX LIVE？ A: FX LIVE offers VIP, Platinum, Gold, Silver, and Basic accounts, each with different leverage ratios and minimum deposit requirements. Q: What is the maximum leverage provided by FX LIVE？ A: FX LIVE offers leverage up to 1:10. Q: What are the average spreads and commissions？ A: The average spread for major currency pairs is around 1.2 pips, and the commission is $7 per standard lot traded. Q: What are the minimum deposit requirements for FX LIVE accounts？ A: The minimum deposit requirements are: VIP - $150,000, Platinum - $50,000, Gold - $25,000, Silver - $10,000, and Basic - $5,000. Q: What deposit and withdrawal methods are available？ A: FX LIVE offers various methods, including credit/debit cards, bank transfers, and e-wallets, with no fees for deposits. Withdrawal fees vary, and processing times differ based on the method used. Q: What trading platform does FX LIVE provide？ A: FX LIVE offers MetaTrader 5 (MT5), which supports advanced trading, multiple financial markets, technical indicators, and automated trading with Expert Advisors (EAs) on Android and iOS devices. Q: How can I contact FX LIVE customer support？ A: You can reach FX LIVE customer support via email at support@fx-live.com or through the German phone line at +442038076554. Q: Are there any reviews of FX LIVE available？ A: A WikiFX review (ID: FX2165038301) on May 22, 2021, reveals concerns about a pyramid scheme complaint and issues with withdrawal, along with allegations of collaboration with foreigners to deceive Thai investors.

GCM Prime broker review

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gcm prime Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a gcm prime Account Registering for a gcm prime account is the first step toward accessing a range of trading services offered by the platform. Follow these det

GCM Prime Forex Broker - Complete Information Guide

1. Broker Overview

　　GCM Prime, officially known as GCM Prime Ltd, was established in 2012 and is headquartered in London, United Kingdom. The company operates as a private entity and primarily serves retail forex traders and institutional clients. Over the years, GCM Prime has developed a reputation in the forex trading community, focusing on providing a variety of trading services and products.

　　The broker's history is marked by significant milestones, including its initial establishment and subsequent growth in client base and trading volume. GCM Prime aimed to cater to both retail and institutional markets, offering a range of financial instruments. However, the company faced challenges leading to its insolvency in 2017, which resulted in a temporary halt of its services. In 2021, GCM Prime was acquired by a Chinese investor, Xiaoliang Lyu, and rebranded as EC Markets, marking a new chapter in its operational journey.

　　GCM Prime broker primarily operates in the retail forex market, providing various trading options and services designed to meet the needs of its diverse clientele. The company has also established relationships with institutional clients, offering tailored solutions to meet their trading requirements.

2. Regulatory and Compliance Information

　　GCM Prime operates under the regulatory oversight of the Financial Conduct Authority (FCA) in the United Kingdom. The broker's regulatory license number is 571881. However, it is essential to note that the FCA license has been classified as a clone firm, raising concerns about the legitimacy of the broker's regulatory status.

　　The company claims to maintain a segregated account policy, ensuring that client funds are kept separate from the company's operational funds. This practice is designed to enhance the security of client deposits. However, the lack of a robust regulatory framework raises questions regarding investor protection and compliance.

　　GCM Prime is also subject to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are standard practices in the financial services industry. These measures are intended to prevent illicit activities and ensure that the broker operates within legal boundaries.

3. Trading Products and Services

　　GCM Prime offers a diverse range of trading products, primarily focusing on forex currency pairs. The broker provides access to over 50 currency pairs, including major, minor, and exotic currencies. In addition to forex trading, GCM Prime also offers Contracts for Difference (CFDs) on various asset classes such as indices, commodities, and metals.

　　The broker continuously updates its product offerings, introducing new instruments to cater to the evolving needs of traders. GCM Prime also provides retail trading services, allowing individual traders to engage in the forex market, while also offering institutional services tailored to the requirements of professional clients.

　　For those interested in alternative investment options, GCM Prime has been known to explore unique trading products, although specific details on these offerings were not extensively covered in the available sources.

4. Trading Platforms and Technology

　　GCM Prime supports the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface and advanced trading capabilities. The platform allows traders to execute one-click trades, access various technical analysis tools, and utilize automated trading strategies.

　　In addition to MT4, GCM Prime has developed its proprietary trading platform, providing clients with an alternative option for executing trades. The broker also offers a web-based trading platform for users who prefer to trade directly from their browsers without the need for software installation.

　　Mobile trading is supported through dedicated applications for both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go. GCM Prime employs an ECN (Electronic Communication Network) trading model, which facilitates direct market access and enhances trade execution speed.

　　The broker's servers are located in the United States, ensuring reliable connectivity for traders. Furthermore, GCM Prime provides API access for automated trading, allowing clients to integrate their trading strategies seamlessly with the platform.

5. Account Types and Trading Conditions

　　GCM Prime offers several account types to meet the diverse needs of its clients. The account options include:

Basic Account: Requires a minimum deposit of $5,000 with competitive spreads.
Silver Account: Requires a minimum deposit of $10,000 with enhanced trading conditions.
Gold Account: Requires a minimum deposit of $25,000, offering additional benefits.
Platinum Account: Requires a minimum deposit of $50,000 with exclusive features.
VIP Account: Requires a minimum deposit of $150,000, catering to high-net-worth individuals.

　　The broker provides leverage options of up to 1:10, allowing traders to amplify their positions. The minimum trade size typically starts from 0.01 lots, accommodating both novice and experienced traders. GCM Prime also has policies regarding overnight fees, which apply to positions held beyond the trading day.

6. Fund Management

　　GCM Prime supports a variety of deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirements vary by account type, with the basic account starting at $5,000. Deposits are processed promptly, typically within 1-3 business days, depending on the payment method used.

　　The broker does not charge any deposit fees, making it easier for clients to fund their accounts without incurring additional costs. However, withdrawal methods are limited to bank transfers, which may take up to 7 days to process. GCM Prime does not impose withdrawal fees, but clients should be aware that their banks may charge fees for incoming transfers.

7. Customer Support and Educational Resources

　　GCM Prime offers customer support through various channels, including email, phone, and live chat. The support team is available during business hours, providing assistance in both English and Turkish. However, the availability of support in multiple languages is limited.

　　The broker also provides educational resources, including webinars and tutorials aimed at enhancing traders' knowledge and skills. Market analysis services, such as daily reports and research updates, are also available to help traders make informed decisions.

8. Regional Coverage and Restrictions

　　GCM Prime primarily serves clients in the United Kingdom and various regions in Asia. The broker has established a presence in several countries, providing localized services to meet the needs of its clients. However, GCM Prime does not accept clients from certain jurisdictions, including the United States.

　　The broker's operational restrictions may vary based on local regulations, and potential clients are encouraged to review the specific terms applicable to their regions before opening an account.

　　In conclusion, GCM Prime broker presents a range of trading products and services tailored for both retail and institutional clients. Despite its challenges in the past, including regulatory concerns and operational difficulties, the broker continues to evolve under new ownership, aiming to provide a reliable trading environment for its clients. However, prospective traders should conduct thorough research and consider the associated risks before engaging with GCM Prime.

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