GFTrade Review 2019 | Is GFTrade a Scam or Legit Forex Broker?

Read our GFTrade review to find out if GFTrade is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.5/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
GFTrade
GFTrade Overview

GFTrade is a global Forex and CFD broker that is primarily based in Singapore as well as St.Vincent and Grenadines. It is regulated by the FSA and offers low entry for minimum capital requirements, as well as low spreads on the trading of 60 assets across currencies, metals, cryptos, indices, energies and stocks.

# Broker's Features GFTRADE Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review GFTrade.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. GFTrade offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Crypto.

Tradable Products: On GFTrade, you have access to trade over 60 assets, spread out across various asset groups such as 54 currency pairs, 8 stocks, energies, 10 indices, 7 commodities and 5 cryptocurrencies

Broker Type: Many types of brokers can be found in the most dynamic market in the world. GFTrade is DMA, ECN, No dealing desk, STP.

Features: The MT4 offers sophisticated tools for trading and analysis. Trade with expert advisors, custom indicators, create and load templates, and test your strategies with the Strategy Tester. There is also an economic calendar for you to stay on top of key events and indicators.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. GFTrade recommended minimum capital is $10.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. GFTrade is regulated by FSA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Languages Available: Next lets have a look at each broker's different Language options. GFTrade offers Chinese, English, German, Hindi, Indonesian, Itali.

Payment methods: Next lets have a look at each broker's payment options. GFTrade offers bitcoin, Credit Card, FasaPay, Neteller, Skrill, Union Pay different payment methods for each account types.

Deposit and withdrawal: Several options are available for deposits and withdrawals. Use e-wallets, bank wires or credit/debit cards to deposit and withdraw funds from your GFTrade accounts. Do not pay fees to GFTrade. Transactions are processed same day

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, GFTrade makes MetaTrader 4 available to clients.

Web & Desktop Trading Platforms: Only the popular MT4 trading platform is provided by GFTrade. You can trade with the desktop and mobile versions of the GFTrade MT4 platform and use various tools and add-ons that are provided
Mobile Trading Platforms: “GFTrade offers the MT4 trading platform on mobile devices. This gives their clients the liberty to trade anywhere and at anytime. The MT4 mobile apps are user friendly, free and available in multiple languages. Trade executions are fast and secure.

Other

Trader Education
GFTrade compensates for its lack of quality forex research materials by providing a good variety of forex eBooks. These ebooks are available at no cost and great for beginners

Promotions
GFTrade provides a deposit bonus of 50% of the value of every deposit made to an account, bonus maxing out at $10,000. Terms and conditions apply

Support
GFTrade has won a major award for the quality of its customer service. Get support 24/5 via available via live chat, email or social media. Quality of customer support is high

Recup
GFTrade is a global forex and CFD broker that has its HQ in Singapore, but also operates a branch from St. Vincent and the Grenadines.

Final Thoughts
Security of traders’ funds is ensured through fund segregation, various risk management techniques and a comprehensive Know-Your-Customer (KYC) Protocol. Privacy protection is also in place and in compliance with existing international laws

Trading Experience
The experience is geared towards both beginner and more experienced traders alike. You can start trading with just $10 which is great for newbies to practice with and a high maximum leverage of 1:500 is available. Plus there is a good selection of assets of more experienced traders

People Also Asked

Is GFTrade regulated?
Yes, GFTrade is regulated by top-tier regulators, FSA inclusive.
Where is GFTrade based?
GFTrade is based in N/A
How does GFTrade make money?
GFTrade charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in GFTrade account?
With GFTrade you can deposit money via the following means; bitcoin, Credit Card, FasaPay, Neteller, Skrill, Union Pay.
How do I withdrawal in GFTrade account?
GFTrade lets you request a withdrawal of funds from your account via the following means; bitcoin, Credit Card, FasaPay, Neteller, Skrill, U.
What is the minimum deposit for GFTrade?
GFTrade has $10 minimum deposit.
What are the available account base currencies with GFTrade?
GFTrade trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in GFTrade?
GFTrade has a maximum leverage is 1:N/A for professional traders.
How do I open an account with GFTrade?
Opening an account with GFTrade is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does GFTrade use MetaTrader?
GFTrade platforms: Yes, GFTrade use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is GFTrade?
GFTrade appears to be a DMA, ECN, No dealing desk, STP broker which offers market access to a variety of traders.
Does GFTrade accept US clients?
No
Does GFTrade offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with GFTrade: You can trade a wide variety of instruments with GFTrade: Currencies, Commodities, Indices, Stocks, Crypto