GRAND FT Market foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.gftmarketrade.com/en/register, about the company's legal and temporary regulatory information, the company's address Suite 305, Griffith Corporate Center, Beachmont, P.O.Box 1510, Kingston, St. Vincent & the Grenadines.
GRAND FT Market Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Insurance
Cent
Grand FT Market Broker - A Comprehensive Information Guide
1. Overview of the Broker
Grand FT Market, officially known as Grand FT Market Limited, was established in 2021. The broker is registered in Saint Vincent and the Grenadines, a location known for its lenient regulatory environment. Grand FT Market operates as a private entity, focusing primarily on retail forex trading and various other financial instruments.
The broker caters to a diverse clientele, including individual traders and investors looking for opportunities in the global financial markets. Over the years, Grand FT Market has positioned itself as a versatile trading platform, offering a range of account types and trading options, although it has faced scrutiny due to its unregulated status.
The company has made significant strides in providing trading services, but its journey has not been without challenges. Notably, it has received warnings from various financial review platforms regarding its operations, which raises concerns about its credibility.
Grand FT Market operates under a business model that primarily focuses on retail forex trading, providing clients with access to a variety of financial instruments, including forex pairs, commodities, and cryptocurrencies. The absence of a solid regulatory framework has led to questions about the safety of client funds and the overall reliability of the broker.
2. Regulation and Compliance Information
Grand FT Market is characterized as an unregulated broker, lacking oversight from recognized financial regulatory authorities. This absence of regulation poses significant risks for investors. According to various sources, including WikiFX, there is no valid regulatory information available for Grand FT Market, indicating potential issues regarding its legitimacy.
The broker is registered in Saint Vincent and the Grenadines, which does not require financial service licenses for its operations. This means that Grand FT Market is not bound by the strict compliance requirements that regulated brokers must adhere to, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) measures.
Due to its unregulated status, clients of Grand FT Market do not benefit from investor compensation schemes that are typically offered by regulated entities. This lack of protection raises concerns about the safety of client funds, as there are no guarantees in place to safeguard investments.
3. Trading Products and Services
Grand FT Market offers a wide array of trading products, catering to various trading preferences. The broker provides access to:
- Forex: A broad selection of currency pairs, including major, minor, and exotic pairs.
- CFDs: Contracts for difference on various instruments, such as indices, commodities, stocks, and cryptocurrencies.
- Cryptocurrencies: Trading options for popular cryptocurrencies, including Bitcoin and Ethereum.
The broker claims to update its product offerings regularly, although specific details on new additions are not readily available. Grand FT Market primarily focuses on retail trading services, but it also claims to provide solutions for institutional clients, including white-label services.
The diversity of available trading instruments positions Grand FT Market as a competitive player in the online trading space, despite its regulatory shortcomings.
4. Trading Platforms and Technology
Grand FT Market supports MetaTrader 4 and MetaTrader 5, widely recognized platforms in the trading community. These platforms are known for their robust features, including advanced charting tools, automated trading capabilities, and a user-friendly interface.
In addition to the MetaTrader platforms, Grand FT Market offers a web-based trading platform for clients who prefer to trade directly from their browsers. Mobile applications for both iOS and Android devices are also available, allowing traders to manage their accounts on the go.
The broker operates on a Market Making execution model, which can sometimes lead to conflicts of interest. However, it claims to utilize advanced technology infrastructure to ensure fast order execution and reliable trading conditions.
API access for automated trading is supported, enabling traders to implement algorithmic trading strategies effectively.
5. Account Types and Trading Conditions
Grand FT Market provides several account types to accommodate different trading styles and preferences:
- Standard Account: Requires a minimum deposit of $500, with spreads ranging from 1 to 1.5 pips and no commission.
- Pro Account: Also requires a minimum deposit of $500, offering a floating spread of 1 pip and no commission.
- Raw Spread Account: Requires a minimum deposit of $500, with spreads starting at 0.6 pips and a commission of $3 per lot.
- Cent Account: Designed for low-budget traders, requiring a minimum deposit of $10, with spreads starting at 1.5 pips and a maximum leverage of 1:1000.
- Insurance Account: Requires a minimum deposit of $500, offering a floating spread of 1 pip and a commission of $3 per lot.
Leverage options vary by account type, with the cent account offering up to 1:1000 leverage, while other accounts provide leverage up to 1:500. The minimum trade size across all account types is 0.01 lots.
6. Funds Management
Grand FT Market supports various deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement varies by account type, with the cent account requiring as little as $10.
Deposit processing times are generally quick, although specific time frames are not detailed on the broker's website. There are no specified deposit fees, but clients should be aware of potential bank charges.
Withdrawal methods include the same options as deposits, but clients have reported challenges in processing withdrawals. The broker's withdrawal policies are not clearly outlined, raising concerns about transparency.
Withdrawal processing times can vary, and clients have expressed frustration over delays in receiving their funds. Fees associated with withdrawals are not explicitly stated, leading to further ambiguity regarding the cost of accessing funds.
7. Customer Support and Educational Resources
Grand FT Market provides customer support primarily through email, although it also offers telephone support. However, the absence of online chat support may limit immediate assistance for clients. The support team is available in multiple languages, catering to a diverse client base.
The broker offers educational resources, including a trading academy and market news updates, to assist traders in enhancing their skills and knowledge. However, the depth and quality of these resources may vary.
Market analysis services, such as daily insights and research reports, are also available, but specific details about the frequency and format of these analyses are not clearly stated.
8. Regional Coverage and Restrictions
Grand FT Market primarily serves clients in various regions, although it does not accept clients from certain countries, including the United States, Canada, and several others. The broker's operations are focused on regions where regulatory oversight is less stringent, which may appeal to some traders seeking higher leverage options.
The lack of a physical presence in major financial hubs raises questions about the broker's commitment to transparency and client service. Clients should exercise caution and conduct thorough research before engaging with Grand FT Market, especially given its unregulated status.
In conclusion, while Grand FT Market offers a range of trading products and services, potential clients should be wary of its unregulated nature and the associated risks. It is advisable to consider regulated alternatives that provide greater security and investor protection.
GRAND FT Market Similar Brokers
Latest Reviews
FX1466994611
India
This broker is a big scammer. He doesn't give withdrawal to anyone. He doesn't reply to mails. His support team doesn't help. I have already placed 2 requests. My 3rd request is also pending.
Exposure
2023-04-06
FX1466994611
India
hold withdrawal unable to response my mails
Exposure
2023-04-05
GRAND FT Market
News
Exposure “This broker is a big Scammer" victim stated
Maharashtra user from India Complaint against Grand FT Market regarding a withdrawal issue.
FX1466994611
India
This broker is not giving me withdrawal even after 1 month. I have come across 2 websites of this. I asked for help from both of them but I did not get any help from them. Both of them are fake websites. This broker is doing scam. But it is all hollow.
Exposure
2023-04-16