GPS Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
Risk Control
Thank you for the solution, it is very beneficial. If it weren't for the support of your professional team, I wouldn't have been where I am now. Fantastic, I don't know how to put into words how to express my gratitude to you guys, you are always so patient, so empathetic, and so professional, I really learned a lot from you!
In the ever-evolving landscape of forex trading, GPS Capital Markets has emerged as a notable player since its inception in 2002. However, the reviews surrounding this broker paint a complex picture. While some users appreciate its diverse service offerings, others raise concerns about its regulatory status and customer support. This review will delve into the key features of GPS, highlighting both its strengths and weaknesses based on user experiences and expert opinions.
Note: Its essential to recognize that different entities operate under the GPS brand in various regions, which can impact user experiences and regulatory compliance. Therefore, thorough research is advised for potential investors.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup/Experience | 6 |
| Trustworthiness | 3 |
| User Experience | 5 |
We rate brokers based on a combination of user feedback, expert analysis, and factual data.
Founded in 2002, GPS Capital Markets is headquartered in the United Kingdom. It provides a range of foreign exchange products and services, including balance sheet hedging, corporate foreign exchange, and international payments. The trading platform offered is the FXpert platform, which is tailored for managing foreign exchange transactions. However, it is crucial to note that GPS operates under a regulatory status that has been described as "exceeded," indicating potential legal implications.
Regulatory Status and Geographical Reach:
GPS Capital Markets is regulated in the United Kingdom; however, its license has been noted as "exceeded," which raises concerns about its operational legitimacy. According to multiple sources, including WikiFX, this could lead to significant risks for investors [source]. The broker's activities are primarily focused in the UK, Australia, and several cities in the United States, which may influence the level of protection afforded to clients in different jurisdictions.
Deposit and Withdrawal Options:
While specific minimum deposit requirements are not clearly defined, users have reported varying experiences with withdrawal processes. The lack of transparent policies regarding deposits and withdrawals has been a point of contention among users, with some expressing frustration over delays and complications in accessing their funds [source].
Bonuses and Promotions:
GPS Capital Markets does not prominently feature any bonuses or promotional offers, which may appeal to traders looking for straightforward trading conditions without the complications of bonus terms. However, the absence of promotional incentives could also be seen as a drawback compared to other brokers that offer competitive bonuses to attract new clients.
Asset Classes Available for Trading:
The broker primarily focuses on foreign exchange, providing clients with access to various currency pairs. However, there is limited information available regarding other asset classes like commodities or indices, which might restrict trading opportunities for more diverse strategies.
Cost Structure:
The cost structure, including spreads and commissions, has not been thoroughly detailed in the reviews, making it difficult for potential clients to gauge the overall trading costs. Users have noted that the FXpert platform offers tools for managing transactions but have not provided specific details on costs associated with trading [source].
Leverage Options:
Leverage options available through GPS Capital Markets are not explicitly stated in the reviews, which could be a concern for traders looking to maximize their trading potential. The lack of clear information on leverage can lead to uncertainty regarding risk management strategies.
Trading Platforms Allowed:
The primary trading platform offered by GPS is the FXpert platform. While it provides a robust set of tools for managing foreign exchange transactions, some users have expressed a desire for additional platform options, such as MT4 or MT5, to enhance their trading experience [source].
Restricted Regions:
There is limited information regarding specific regions where GPS Capital Markets is restricted. However, the reviews suggest that it operates primarily in regions where it is not under stringent regulatory oversight, which could pose risks for traders in those areas.
Available Customer Service Languages:
GPS Capital Markets offers customer support in multiple languages, including English. However, users have reported mixed experiences with customer service, citing long response times and inadequate support when issues arise [source].
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 5 |
| Tools and Resources | 6 |
| Customer Service and Support | 4 |
| Trading Setup/Experience | 6 |
| Trustworthiness | 3 |
| User Experience | 5 |
Detailed Breakdown:
Account Conditions (5/10): Users have expressed mixed feelings about account conditions, particularly regarding transparency in deposit and withdrawal processes.
Tools and Resources (6/10): The FXpert platform provides a decent range of tools for managing forex transactions, but users desire more options.
Customer Service and Support (4/10): Customer service experiences have been largely negative, with reports of slow responses and inadequate assistance.
Trading Setup/Experience (6/10): While the platform is functional, the lack of alternative trading options limits flexibility for traders.
Trustworthiness (3/10): The exceeded regulatory status raises significant concerns about the safety of funds and the legitimacy of the broker.
User Experience (5/10): Overall user experiences are mixed, with some appreciating the service offerings while others voice concerns about regulatory compliance and customer support.
In conclusion, GPS Capital Markets presents a mixed bag for potential forex traders. While it offers a range of services and a dedicated platform, significant concerns about regulatory compliance, customer service, and transparency persist. Prospective clients are strongly advised to conduct thorough research and consider their risk tolerance before engaging with this broker.
