GFT good broker?

[jlmac27]

Hello everyone I was wondering if anyone out here has had any info on GFT? I am currently with them now I have a demo and a small account open.Just wondering if anyone has had a good or bad experience with them.Thank you all, and good pippin to all!!!!!!!!!!

[LasVegasForex]

If you like having to decipher almost impossible to read account reports, paying a fee for no activity and having to pay the amount of your swap for the day (if a negative carry) They are fine...


I won't recommend anyone as I don't really think any are all that great, its just a matter of how much and what type of BS you are willing to accept.
My broker ( interbankfx) didn't close my position at my limit level the other day, It hit on a quick spike, then it reversed and hit my stop loss, I lost 103 pips because of that, but whatever it happens everywhere and the grass is always greener.
I am just happy it was a micro lot and the value was only $10.36. ( I get bored and sometimes I "play" with micro lots) I didn't even bother contacting them....no use

[jlmac27]

Thanks vegas,
What do you mean by carry the amount of my swap if negative? You pay what you lose with any broker. I don't quite understad.I like the platform 360 they use.I don't know if I am just use to it because I started out with it or what, but I am very comfortable with it.I have heard alot abot metatrader platform.Is it a good one?

[LasVegasForex]

Thanks vegas,
What do you mean by carry the amount of my swap if negative? You pay what you lose with any broker. I don't quite understad.I like the platform 360 they use.I don't know if I am just use to it because I started out with it or what, but I am very comfortable with it.I have heard alot abot metatrader platform.Is it a good one?

Yes, but with most brokerages you have to settle the swap when you close the trade, with GFT the swap is negative will be deducted each day, per day the trade is open. So if you scalp then it doesn't matter much, but I hold positions for up to a month and I would not like my account drained everyday.

I use MT4 and love the platform, also check out esignal.

[jlmac27]

What broker do you use Vegas?

[LasVegasForex]

What broker do you use Vegas?

I currently am using interbankfx, I am only using them because of three reasons, 1) the MT4 platform
2) the fact I can trade micro lots
3) They issue you a visa debit card so you can access your account if you need a quick withdrawal

I would like to note that they are not perfect and they are horrible if you want to trade news events.

***I am not promoting this brokerage, do not take this as such.***

[jlmac27]

I have seen some brokers offer a free start up account with like a $100 they give you to start up.Is this a gimmick or are they really doing this?What is the catch? thanks in advance..

[LasVegasForex]

I have seen some brokers offer a free start up account with like a $100 they give you to start up.Is this a gimmick or are they really doing this?What is the catch? thanks in advance..

All I know is the word FREE scares me. I have learned in my sales carreer (thats what I do) that the word "FREE" is used to attract people that don't have very much money. Always be cautious of FREE

[eurofx]

Hello everyone, this is my first post and I would line to thank this website for the great job they are doing!

I currently use GFT as a broker but I am just about to report them as they have not honour the profit someone made a couple of weeks ago claiming that the price shown on their own platform was incorrect!!?? They also stop all trades for 3 weeks last May, this time the problem was the server...not good at all.

Thanks again.

[rck66]

I have been using GFT for almost 3 years now and I would recomend them. Do I love them 100%? No way. Statements are a hassle, even though they tried to improve them. Charts have to be refreshed if you are disconnected and relogin in order to get the real price action.

but I like their charts, they have honored my price, even though sometimes I get requotes when I try to enter after major news (but that is normal). I have placed stop buy or sell as well as stop losses before major news and they have been honored. Getting your money back has never been an issue. I usually get checks in the mail and the most that they take is 4 to 5 days after request. I had a wire transfer requested the other day and it went flawless.

The number of pairs to trade is another plus, plus the spreads are ok. Also they will start offering futures by November of this year and the commisions will be cheap according to my acct rep.
Ability to program indicators and strategies as well as the number of indicators they have available already.
Wish they did away with the trading desk (even though I dont like that fluctuation because 1 min you might have a spread of 1 pip and the next have a spread of 5). Will like to see more support on how to program on chart studio as well.
Overall I give them an 8 out of 10.