GFT Group Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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Golden forex trade Is this company closed down? It doesn't even have a regulatory license. My guess is that a lot of companies failed because they didn't have enough capital in the first place, couldn't apply for a license, and therefore couldn't attract customers.
In the ever-evolving landscape of forex trading, GFT Group emerges as a broker with a mixed reputation. While some users appreciate its trading platform and customer service, others raise concerns regarding its regulatory status and withdrawal processes. This review aims to provide a comprehensive overview of GFT Group, highlighting both the positive and negative aspects based on user experiences and expert evaluations.
Note: It is essential to recognize that GFT Group operates under different entities across regions, which may impact user experiences. This review aggregates information from multiple sources to ensure fairness and accuracy.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 7 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Regulatory Compliance | 3 |
We rate brokers based on user feedback, expert opinions, and factual data.
Founded in 1997, GFT Group, also known as Global Futures & Forex Ltd, has a long-standing presence in the forex industry. While it primarily focuses on forex trading, it also offers a range of other financial instruments. GFT Group provides its users with the DealBook 360 trading platform, known for its user-friendly interface and advanced charting capabilities. However, the broker has faced scrutiny regarding its regulatory status, as it currently lacks valid regulation from recognized authorities.
GFT Group is registered in Saint Vincent and the Grenadines but does not hold any valid regulatory licenses, which raises significant concerns about its trustworthiness. According to WikiFX, the broker received a low score of 1.27 out of 10 due to its lack of regulation. This absence of oversight can pose risks for traders, especially for those new to the forex market.
GFT Group supports various funding methods, including Bitcoin direct deposits and PayPal, with a minimum deposit requirement of just $5 for micro accounts and $100 for premium accounts. However, users have reported delays in the withdrawal process, with some stating that it can take up to a week to receive funds, which is considered unacceptable by many traders.
While GFT Group claims to offer various bonuses, potential traders should approach these with caution. Bonuses often come with stringent conditions that may not be favorable for clients. Notably, bonuses are not recognized as client funds and can complicate withdrawal processes.
The broker primarily focuses on forex trading, offering a limited selection of currency pairs. Specific details regarding additional tradable assets are sparse, with many users expressing a desire for a more diverse range of instruments.
GFT Group advertises spreads as low as 0.1 pips for certain currency pairs, but there are concerns about the transparency of these claims. User experiences suggest that spreads can widen significantly during volatile market conditions, leading to unexpected costs. Additionally, while there are no explicit commissions listed, users have noted hidden fees that can erode profits.
GFT Group offers leverage up to 1:1000, which can be attractive for traders looking to maximize their positions. However, higher leverage also increases the risk of substantial losses, making it crucial for traders to use this feature judiciously.
The primary trading platform offered by GFT Group is DealBook 360, which is complemented by MetaTrader 4 (MT4). While DealBook 360 is generally well-received for its functionality, some users have reported technical issues, including platform crashes and slow execution speeds.
GFT Group does not provide clear information on restricted regions, but its regulatory status and the lack of oversight may limit its appeal to traders in heavily regulated markets.
GFT Group offers customer support primarily in English, with options for email and phone support. While some users have praised the responsiveness of the support team, others have reported dissatisfaction with the level of assistance provided.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 7 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
| Regulatory Compliance | 3 |
GFT Group offers a low minimum deposit, which can attract new traders. However, the lack of regulatory oversight and reports of withdrawal delays significantly detract from its appeal.
While GFT Group provides a robust trading platform, the limited range of educational resources and market analysis tools may not meet the needs of all traders.
Customer service has received mixed reviews, with some users reporting positive experiences while others cite slow response times and inadequate support.
Many users appreciate the functionality of the DealBook 360 platform but have raised concerns about technical issues that can hinder trading performance.
The absence of valid regulation and reports of hidden fees contribute to a low trust rating for GFT Group. Potential traders should exercise caution and consider these factors before engaging with the broker.
User experiences vary widely, with some praising the platform's features while others express frustration over withdrawal processes and customer support.
The lack of regulatory oversight is a significant drawback, as it raises concerns about the broker's legitimacy and the safety of client funds.
In conclusion, GFT Group presents a mixed bag for prospective traders. While its trading platform offers some appealing features, the lack of regulation and reports of withdrawal issues warrant careful consideration. As always, potential clients should conduct thorough research and weigh the pros and cons before committing to any broker.
