GICM Forex Broker

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Detail Regulation No regulation Market Instrument Forex, cryptocurrencies, commodities and metals Account Type Classic, Pro and VIP Demo Account yes Maximum Leverage 200:1 Spread From 0.05 pips Commission N/A Trading Platform MT5 for Web, Desktop, Android and iOS Minimum Deposit $50 Deposit & Withdrawal Method MasterCard, Visa, Neteller, Bank Transfer, UnionPay and Skrill GICM, a trading name of GIC Markets, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 200:1 and floating spreads from 0.05 pips on the MT5trading platform via three different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site: As for regulation, it has been verified that GICM currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.45/10. Please be aware of the risk. Market Instruments GICM advertises that it offers access to a wide range of trading instruments in financial markets, including forex, cryptocurrencies, commodities and metals. Account Types Apart from demo accounts, GICM claims to offer three types of trading accounts, namely Classic, Pro and VIP, with minimum initial deposit requirements of $50, $100 and $50 respectively. Leverage The specified leverage for different account types at GICM varies between 100:1 and 200:1. Clients on the Classic and Pro accounts can enjoy the maximum leverage of 200:1, the Pro and VIP accounts can experience leverage of 100:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads GICM claims to offer spreads from 0.05 pips on all account types. Trading Platform Available The platform available for trading at GICM is one of the most notable and preferred trading platforms the market offers - MT5 for Web, Desktop, Android and iOS. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Deposit & Withdrawal From the logos shown at the foot of the home page on GICMs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of MasterCard, Visa, Neteller, Bank Transfer, UnionPay and Skrill. The minimum initial deposit requirement is said to be $50. Bonuses GICM claims to offer $10 no deposit bonus and $5 sign up bonus. Customer Support GICM‘s customer support can be reached by telephone: +44 2032393863, email: support@gicmarkets.com. You can also follow this broker on social networks such as Twitter, Facebook and Instagram. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer. Pros & Cons Pros Cons • Demo accounts available • No regulation • Low minimum deposit • MT5 supported • Multiple payment options offered Frequently Asked Questions (FAQs) Q 1: Is GICM regulated？ A 1: No. It has been verified that GICM currently has no valid regulation. Q 2: Does GICM offer demo accounts？ A 2: Yes. Q 3: Does GICM offer the industry-standard MT4 & MT5？ A 3: Yes. GICM offers the MT5 trading platform. Q 4: What is the minimum deposit for GICM？ A 4: The minimum initial deposit at GICM to open the most basic account is $50. Q 5: Is GICM a good broker for beginners？ A 5: No. GICM is not a good choice for beginners. Although it offers demo accounts on the MT5 trading platform, it lacks legitimate regulation.