GCI Financial- how reliable is this broker?

GCI also offers Forex and CFD trading on the popular MetaTrader 4 trading platform. Trading directly from charts, fractional lot capabilities, the ability to program trading signals, and unlimited charts and technical indicators are among the many benefits. MetaTrader4 is ideal for novice traders and professionals alike. All major currency orders are filled directly in the Interbank market, with no dealer intervention or delays.

• I think that, this is very good forex broker for bgneenirs.
• They took my profits from my account for reasons I don’t understand.
• Accounts are commission-free, so its just the spread to take into account.
• Myfxbook is a free website and is supported by ads.
• Consequently, if you choose to trade with this scammer, you will surely lose your money, as any government authority does not regulate them who can ensure the safety of funds.
• Regardless of your billing cycle, there is never any obligation to renew, and no penalties for cancelling your service.

• GCI was founded in 2002 and is one of the pioneers in online currency and CFD trading. Trading with an experienced broker like GCI that has been in the business for over a decade does have its advantages. •Client Service.GCI’s professional staff is available 24 hours a day to answer questions and provide assistance via Live Chat, and their technical and administrative support is second to none. 100% Deposit Bonus — Receive a 100% Bonus on Deposits (Max Bonus $5,000). The MetaTrader4 platform is accessible from PC, iPhone, iPad, Android, or other mobile devices and there are free demo videos available that explain the download process for these as well as for PC’s and Mac’s. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up.

Trading Instruments

Regardless, I do share the same perception as yours and do acknowledge that your enquiry has not been addressed in a timely manner. GCI has been experimenting a pic of business activity that explains, at least partially, these delays. I trust that this email will find you well, regardless of Covid taking a toll on Germany these days…

Then if you complain you are treated as if you are stupid and basically ignored. So if you are trying out gci trading reviews demo software, beware that it does not behave in any way like their live accounts and you will have no recourse when their rigged system robs you. Their range of trading instruments and the assets may be good but the spreads are not that enticing and falls within the midrange. Overall, GCI Financial scored moderately well on our key parameters.

GCITrading Review

As with the research tools, GCI Trading also offers a comprehensive education section on its website under the link Education and Resources. It includes items such as trading strategies and decision making, controlling risk, an overview of the forex market, and a helpful glossary of words. Before starting to trade, potential GCI Trading clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If GCI Trading’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

The primary reason why https://traderoom.info/ trading has gained so much popularity is because the profits are promising. GCI Financial was a bit boring when it comes to the layout and design of their trading platform. They claim to offer a very modern and sleek design but in reality it wasn’t as contemporary although it was as fluid as they promised. Browsing through the trading instruments and various sections doesn’t take a lot of getting used to and even placing a trade was pretty easy. GCI offers Forex and CFD trading on the popular MetaTrader 4 trading platform where they can trade directly from charts.

This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Firm can legally elect to accept commissions for their investment advisory services. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. While this allows for a broader range of investment options and management styles to be offered by a firm, it can create an incentive for the firm to put their financial interests ahead of your own. It is the most common practice of unregulated brokers that they provide incomplete information to hide their identities. Likewise, GCI brokers have not provided the details related to their minimum withdrawal amount policy, withdrawal fee policy, dormant account policy, and the fee of inactive accounts.

GCI Financial Review Conclusion

GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. EToro is a multi-asset platform which offers CFD and non CFD products. 79% of retail investor accounts lose money when trading CFDs with this provider. Therefore, due to such shady aspects of this broker, your money is not protected if you choose this broker to trade with them.

Even when you will examine their terms and conditions section, you will find many scam clauses in the withdrawal section. To hide their profile from the law, GCI brokers have not provided such crucial and important information to the customers, which is the major evidence of fraud. It seems that the GCI software is highly rigged to impede the traders ability to take a profit but to maximise GCIs ability to take your money.

Firm or an advisory affiliate was previously found to have made false statements, omissions, or being dishonest and unfair by a regulatory agency other than the SEC or CFTC. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. In the past 10 years, a domestic or foreign court has issued an injunction against the firm or an advisory affiliate in connection with an investment-related activity.

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable. The process to open an account can be started from links on the company homepage. Traders need to complete an account application and send it with your identification documents and verification of address.

We recommend taking a look at our reliable forex broker instead. Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for. One of the primary factors that must be included in choosing a broker is the quality of support that they provide. It is very important that their support team is capable of answering customer queries and providing immediate assistance when issues arise. Another issue is the handling time which usually takes long which really frustrates a lot of traders. Adding funds to a GCI Financial account can be done using bank wire transfer, credit cards , Moneybookers, cashU, Perfect Money or check.

Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. While this can be seen as «eating your own cooking,» there are conflicts that may arise. For example, front-running is when a financial professional buys or sell securities ahead of their client. Financial professionals should disclose all positions they hold that they will also be recommending to their clients. Questions to askRegulatory disclosures state that firm sells proprietary investments and products. Please provide me a list of the products and a summary of how much your firm earns from them.

Products

The company aims to provide superior trading and customer service. It offers spreads from as low as 1 pip, interest paid on your account balance, direct interbank trading access, and the lowest margin requirements for all products. The minimum deposit amount that GCI brokers require you is $1000, which is insanely high as compared to the rest of the forex market industry. Whereas, with legit forex brokers, you can open a micro account with a cost that is 100 times less than this. Even you can open a standard account with only a $200 minimum deposit with an authentic legitimate broker. The minimum deposit at GCI Financial is $500 which is higher than the standard deposit requirement of most forex brokers.

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market. Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile. Deposits or withdrawals can only be made by account holders and no third-party deposits are accepted. Read through our introductory course to financial advisors.

GCI Financial Discussion

All you will need to do is log in to your MetaTrader 4 account, or download and install other software you would like to use. We have included Chrome browser and a number of other applications pre-installed for your convenience. Optimal connectivity for financial software cannot be achieved with all servers and ISPs. Who earn money anytime no need to worry about power c… If you invest into this broker, you can consider your money gone. Some might try to open small fund into them at first and withdraw them for trials.

•Safety of Funds.GCI Financial maintains an insurance policy from Allied International Group () covering all customer funds. Furthermore, GCI has years of experience managing risk and a strong balance sheet with net capital in excess of most minimum regulatory requirements. •Low margin requirements.GCI provides access to Forex, share, and index trading with margin requirements of 0.5% on Forex, 1% on Share Indices, and 5% on individual shares.

• Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
• I was pleased to see when doing this review that a demo account can be set up with either of the two accounts.
• A lot of forex traders usually complain about the deferrals in their withdrawals with extended waiting times reaching almost a month.

The IFSC won’t do anything about it and I think they belong together somehow. Sites like the Forexpeacearmy tried to communicate with GCI Financial because there were several traders complaining about them. GCI Financial just stopped to talk to traders that lost money there and also did not get back to Forexpeacearmy any more. This is very sad and already proves that something is wrong there. You don’t have to say much about GCI Financial because it’s pretty obvious that it’s a scam. Usually, we don’t say that because there are always two sides of the medal and there are always trader that call a broker a scam but in this case it’s pretty obvious.

GCI Trading Review

I use everyday strategy so can evaluate company’s service very clear. Also I have 2nd account with another company, but I cannot find it in this list. So this broker is well-known in our country and seems they are worried about their reputation. They have few instruments, other brokers have much more.

As if you have an issue you would like to speak or chat to someone immediately. It is our organization’s mission to provide unbiased and objective information. The investor.com website utilizes verified data from reputable sources, which includes the Securities Exchange Commission ; however, it can vary from time to time. Investor.com is not endorsed by or affiliated with the SEC or FINRA. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges.

All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. GCI Financial Overall Ranking is 3 out of 10 based on our testingand compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers. Despite this, St. Vincent and the Grenadines is in a known offshore zone, while the company operates without any license to perform its services. GCI Financial is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority.