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!!!
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 
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.
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.
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
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.
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.
Is that what IBFX does?
I’ve never heard of a broker that waits until you close the trade to settle the swap. That would mean that they would have to carry the cost for you if you’re in the negative.
Every broker has a rollover time each night, which is when the swap is calculated. If you’re negative, you pay. If you’re positive, they pay you. It’s standard practice to settle each night. Wednesdays are the worst if you’re negative because they have to account for the weekend.
Here’s a quote from EFX’s site:
Spot Forex market transactions have a value date that is two business days forward. Rollover involves exchanging the current position for a position expiring the following settlement. Industry practice is if a trade is executed on Tuesday, then Thursday would be considered the value date. An exception occurs if a position is opened and held overnight on Wednesday.
The normal value date for Wednesday would be Saturday, but because banks are closed on Saturday the value date is actually the following Monday. Positions that are held overnight on Wednesdays will earn or incur an extra two days of interest. Additionally, positions with a value date that fall on a holiday also incur or earn additional interest.
To avoid rollover interest debits or credits on your positions, simply make sure your position is closed prior to 5 p.m. EST (the established end of the market day).
Terry
Hi All,
I am about to venture on this adventure with GFT. Well, from what you’ve all been saying, feels like, it would be okay to give them a try. Atleast the trainings they gave ( 1 on 1 ) were really good and so far my a/c rep’s been nice.
I will keep you all posted for sure. for one thing’s sure, this is how we know about other brokers and options, right.
hey
this response may be a bit late to have any impact on your decision…but i’m currently with gft. they’re alright
they definately have the best charts around
however, they do this annoying thing with your positions everyday called “roll over”
roll over is like resetting your positions (buying you out and then get you in again at the same price). it doesn’t really do anything to your positions but it’s quite annoying when you’re trading longer timeframes (4h, d1, weeklies) i often wake up in the morning and go wtf, why is my position sitting at -30 pips, yesterday it was at +170, how can it go from that to -30 in 8 hours
To Wliu84
Rollovers are a standard forex practice. If you stay in long term you will get your 1st one after 24 hours.
From +170 to -30 ?
Simple :
a) The price changed in 8 hours and you are now in loss territory.
b) When you were in loss territory, the rollover was exercised (-2 pips) and your loss position was charged to your account.
GFT is an excellent broker. I have an account with them as well as Oanda. Those, in my opinion, are the ONLY two Fx brokers worth trading with.
The exception with GFT, is to not fall for the account minimum. Always open a trading account with at least $2500 if you are going to trade mini lots.
To Muddbuddha :
GFT is an excellent broker. I have an account with them as well as Oanda. Those, in my opinion, are the ONLY two Fx brokers worth trading with.
I am so glad you say this about GFT. It gives me confidence.
I am trading the GFT platform thro an introducing broker in Australia. The advantage of the introducing broker is that I get to keep the demo charting platform indefinitely instead of the 30 day limit.
I,v been with GFT for just over a year.I,m a 5 min trader.I,v never had a problem except once and that was due to internet problem on there side.Once in a year is pretty good.I don’t set stops so i can’t tell you how they chase them. I have a trading system on FXDD and there price action is bang on,sometimes if it studders its only out 1 or 2 pips.
I get my money the next day when i withdraw it.Never had a problem in that department.
There invoices are confusing but they changed it a bit so people would stop thinking there ripping them off.
My base currency is CAD so my account changes everyday to what that pair closed at.I noticed alot of people complaining cause of money changes in there account.Thats what it probably is.
If i had to find something to complain about. I would say i,m pissed that the woman with the hot voice left accounting.I’ve been reviewing brokers for the past few months and have finally settled on GFT (it was between GFT and interbankfx).
I’m from Grand Rapids, MI, so when I saw that GFT’s global HQ was in Ada, MI, I just about pee’d my pants with delight and gave them a visit. I was able to meet face-to-face with my forex specialist and other staff members, and it was just very reassuring to have a physical location to go to if problems arise. That was the deciding factor for me. They all seem really nice, and they are definitely not a “scam” company.
Hello moreliator,
I am also interested in forex trading. I was also been reviewing broker as u were. GFT is a very nice broker apart of GFT i have found a forex broker AVAFX which is also a very nice broker and i ahve studied about AVAFX i have found many things about AVAFX very nice. You can also study about AVAFX.
Hello moneyman,
You are right this i have found with GFT althoug i have not worked too much with GFT but i have come to know that GFT has many good features. The same thing i have found with AVAFX as well.