GTFX foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://member.wyxfjz.com/index.php?r=user/login/sign, about the company's legal and temporary regulatory information, the company's address .
GTFX Forex Broker
Basic Information
China
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
GTFX Forex Broker - Complete Information Guide
1. Broker Overview
GTFX, officially known as Global GT Forex, was established in 2020. The broker is headquartered in Gauteng, South Africa, and operates under the auspices of the GT Group, a well-known entity in the forex industry. The company is privately held and focuses on providing forex trading services to a global audience, particularly targeting markets in Asia and Africa.
Since its inception, GTFX has aimed to establish itself as a leading player in the international forex market. The broker has made significant strides in developing its infrastructure and service offerings, which include a diverse range of trading instruments and account types. With a commitment to security and transparency, GTFX has implemented strict compliance measures to ensure a safe trading environment for its clients.
The parent company, GT Group, has a long history in the forex sector, having created several successful forex brands over the years. GTFX operates on a retail forex model, offering services to individual traders and institutional clients alike. The broker's business model emphasizes accessibility and user-friendliness, making it an attractive option for both novice and experienced traders.
2. Regulation and Compliance Information
GTFX is regulated by two primary authorities: the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Services Authority (FSA) in Seychelles. The FSCA license allows GTFX to provide services to South African citizens, while the FSA license enables the broker to cater to the international community. The regulatory framework in place is designed to protect clients and ensure fair trading practices.
The regulatory numbers for GTFX are as follows:
- FSCA License Number: [Specific number not provided in the sources]
- FSA License Number: [Specific number not provided in the sources]
GTFX has established policies for client fund segregation, ensuring that client funds are held in separate accounts to protect them in the event of financial difficulties. The broker adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are essential for maintaining compliance and safeguarding client interests.
Despite its regulatory status, it is important for potential clients to conduct their own due diligence, as the broker does not participate in an investor compensation fund, which may limit recourse options in the event of disputes.
3. Trading Products and Services
GTFX offers a wide range of trading products, including more than 500 trading assets across various categories. Traders can access a diverse selection of forex currency pairs, CFDs on indices, commodities, and cryptocurrencies. The broker provides opportunities to trade major, minor, and exotic currency pairs, catering to a broad spectrum of trading strategies.
Forex Currency Pairs
GTFX provides access to 48 different forex currency pairs, including popular options such as EUR/USD, GBP/USD, and USD/JPY. This extensive selection allows traders to engage in both short-term and long-term trading strategies.
CFD Products
The broker also offers trading in CFDs, which include:
- Indices: Major global indices such as the S&P 500 and FTSE 100.
- Commodities: Precious metals like gold and silver, as well as energy products like crude oil and natural gas.
- Cryptocurrencies: GTFX supports trading in over 13 cryptocurrencies, reflecting the growing interest in digital assets.
GTFX continuously updates its product offerings, ensuring that traders have access to the latest market trends and instruments. The broker also provides retail trading services, allowing individual clients to trade with competitive spreads and flexible leverage options.
4. Trading Platforms and Technology
GTFX supports the widely recognized MetaTrader 5 (MT5) trading platform, known for its advanced analytical tools and user-friendly interface. The platform is equipped with numerous features that cater to both novice and experienced traders, including automated trading capabilities through Expert Advisors (EAs).
In addition to MT5, GTFX offers a web-based trading platform that allows traders to access the market without the need to download software. This flexibility is complemented by a mobile application, enabling traders to manage their accounts and execute trades on the go.
Execution Models
GTFX operates under a Straight Through Processing (STP) model, which facilitates direct market access and ensures fast order execution. The broker's servers are strategically located to minimize latency and enhance trading performance.
API Access
For traders interested in algorithmic trading, GTFX provides API access, allowing for automated trading strategies and integration with third-party tools. This feature is particularly beneficial for professional traders seeking to optimize their trading experience.
5. Account Types and Trading Conditions
GTFX offers a variety of account types to accommodate different trading preferences and experience levels. The available accounts include:
Standard Account
- Minimum Deposit: $5
- Leverage: Up to 1:1000
- Spreads: Competitive, starting from 0.3 pips
- Commission: None
Advanced Accounts
- ECN Account: Requires a higher minimum deposit of $3,000, offering raw spreads starting from 0.0 pips with a commission of $3.50 per lot traded.
- Swap-Free Account: Available for clients who adhere to Islamic finance principles.
Demo Account
GTFX provides a demo account option, allowing traders to practice their strategies without risking real funds. This account mirrors the conditions of a live account, enabling users to familiarize themselves with the trading platform and its features.
Trading Conditions
GTFX offers flexible leverage options, with a maximum of 1:1000 available on most accounts. The broker charges no fees for deposits or withdrawals, although clients should verify potential charges from their payment providers.
6. Fund Management
GTFX supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. The minimum deposit requirement is set at $5, making it accessible for traders of all levels. Available funding options include:
- Bank Transfers
- Credit/Debit Cards
- E-Wallets such as Skrill and Neteller
- Cryptocurrency Payments including Bitcoin and Ethereum
Processing Times
Deposits are typically processed within 30 minutes, while withdrawal requests may take longer depending on the method chosen. GTFX does not impose any fees for deposits or withdrawals, although clients should be aware of potential charges from their payment providers.
Withdrawal Limits
Withdrawals can be made using the same methods as deposits, and GTFX has a straightforward withdrawal process. However, clients should note that an inactivity fee of $10 applies after 90 days of account inactivity.
7. Customer Support and Educational Resources
GTFX is committed to providing comprehensive customer support to its clients. The support team is available 24/7 through various channels, including:
- Live Chat
- Email Support
- Phone Support
- Social Media
The broker supports multiple languages, ensuring that traders from diverse backgrounds can receive assistance.
Educational Resources
GTFX offers a range of educational materials, including webinars, video tutorials, and e-books. These resources cover fundamental trading concepts, technical analysis, and market strategies, providing valuable insights for both novice and experienced traders.
8. Regional Coverage and Restrictions
GTFX primarily serves clients in Asia and Africa, with a focus on emerging markets. The broker has established a presence in various regions, although it does not accept clients from certain countries, including the United States, Canada, and several European nations.
Regional Offices
While GTFX is headquartered in South Africa, it also operates in Seychelles to cater to the international market.
Client Restrictions
Due to regulatory limitations, GTFX does not provide services to clients from countries such as Russia, Iran, and North Korea, ensuring compliance with international laws and regulations.
In conclusion, GTFX broker presents a compelling option for traders seeking a diverse range of forex and CFD products, competitive trading conditions, and a user-friendly trading environment. With its focus on security and compliance, GTFX aims to establish itself as a reliable partner in the global forex market.
GTFX Similar Brokers
Latest Reviews
依依东望
Hong Kong
I am Yan Kaihong. I signed an agreement with GTFX on December 12, 2018. The agreement promised to pay me 633,792.648 yuan if I withdrew the case. When I submitted all the withdrawal notices, the platform only gave me 281,629 yuan, and then sent a message to me saying that the payment was completed within three working days. I believed in the platform. I still waited until 12.20, and there are still 300,000 yuan unpaid. The customer service supporter who handled the problem does not reply me. I have never received the rest of compensation.GTFX has repeatedly deceived me, so I am here to expose it so that everyone knows what GTFX is doing. I would like to warn you with my personal experience. Be alert to everyone, lest you be deceived!
Exposure
2018-12-20
FX6389497772
Hong Kong
GTFX platform in bad faith, they said handle with my complaint years ago , the result until today no one to contact me, give me said before processing are also blocked me directly, I don't know is what circumstance, what to open their website is now retreat city, it obviously is to deceive us consumers, I was with them in the platform into the gold lost 660000 operation, is not just a few days time, it is a lie, I have all the chat logs, this is evidence, I also call the police, the police also accepted, this is telecom fraud, hope you all can see, don't be fooled.
Exposure
2019-02-12