GTCM Review 2019 | Is GTCM a Scam or Legit Forex Broker?
Rating breakdown
GTCM Overview
GTCM, Global Trading Capital Market, is owned and operated by a Cypriot investment firm named Depaho Ltd. This Forex trading brokerage is fully registered by CySEC and is fully compliant with ESMA (European Securities and Markets Authority) standards. The broker offers Forex, indices, stocks, commodities, options, ETFs and Crypto assets for trading on PROfit web platform.
| # | Broker's Features | GTCM 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 GTCM.
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. GTCM offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency, Options.
Tradable Products: GTCM offers a great mix of financial instruments, which cover 43 currencies, 8 options, 2 ETF’s, 6 cryptos, 18 indices, 79 shares and 18 commodities.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. GTCM is STP.
Features: The Trading Insider shows the trading trends of GTCM clients for each asset. FPP protects new traders against loses while the charting feature is great for technical analysis. These are just two of the trading features that can be found on GTCM.
As GTCM offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
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. GTCM recommended minimum capital is $200.
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. GTCM is regulated by CySEC, FSCA. 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.
Investor Protection & Regulations: GTCM is a brand name of Depaho Ltd which is authorized and regulated by CySEC and FSCA. To protect investors, the brand has implemented the following security measures: SSL encryption, segregation of funds and membership in the ICF.
Payment methods: Next lets have a look at each broker's payment options. GTCM offers Credit/Debit Cards, E Merchant Payment Solutions different payment methods for each account types.
Deposit and withdrawal: Credit/debit card, Bank Wire Transfer and e-Wallets like Skrill, Klarna and SafeCharge are the acceptable payment options. Requests for withdrawal are processed on the same day. There are withdrawal minimums for each payment method.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, GTCM makes PROfit available to clients.
Web & Desktop Trading Platforms: The ‘WebPROfit’ is the only trading platform available for GTCM clients.
Mobile Trading Platforms: The GTCM Mobile Trading platform is the WebPROfit app. It is designed for use on the Android and iOS devices.
Trader Education
GTCM provides training videos, a glossary and forex eBook. The GTCM trading education resource is best suited for beginner traders.
Promotions
GTCM Markets does not offer any bonuses, which is in keeping with the regulatory requirements of CySEC.
Support
The customer support desk is available on phone, email, fax, chat and social media. The support assistants are swift to respond and willing to help.
Recup
GTCM is a forex and CFD broker operating from Cyprus. It operates an EU-specific brand which is regulated by CySEC, and a global brand (not under ESMA jurisdiction) which is regulated by FSCA. Over 150 trading instruments are provided for trading on the WebPROfit platform. The web-based platform is replete with tools for market analysis. Mobile trading is also supported using the WebPROfit mobile app.
Final Thoughts
UK Forex traders will have no problem navigating this platform. Whether you’re on mobile, or PC, the tailored account types and all the tools and resources available to you will help you to make the right trading decisions based on your strategic goals. A wide range of Forex major pairs, minor pairs, and exotic currency pairs is available, and you can easily get in touch with customer support at your leisure.
Trading Experience
GTCM offers certain tools and services which are at best, suitable for beginners and new traders.