To achieve this, the company has adopted a comprehensive order execution policy that ensures all orders are executed at the best possible prices, without any undue delays or slippage. This commitment to transparency and fairness in trading practices further solidifies FXGT.com’s position as a trustworthy online broker. Additionally, FXGT.com employs stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) policies to prevent financial crimes and illegal activities on its platform. These policies require clients to provide identification documents during account opening to verify their identity, ensuring a secure and transparent trading environment. These features, combined with FXGT.com’s renewed commitment to empowering traders with choice, access, and trust, make it a strong contender in the online brokerage industry. The platform is very intuitive and easy to navigate, even for those who are new to trading.
Hybrid refers that it allows trading through fiat as well as cryptocurrency as the base currency of the account. A unique thing about trading with Global GT is the synthetic trading pairs that the broker has created, which combines crypto with traditional assets. For example, a trader could choose to trade Bitcoin against the Nasdaq or the Dow Jones index rather than against the US dollar, or even trade Bitcoin against single stocks like Apple and Facebook.
Is gt.io regulated by FSCA in South Africa?
They are a hybrid regulated broker that offers fiat as well as crypto based trading accounts. Their spreads is as low as 1.4 pips on major like EUR/USD, support is good & bonus offers are attractive. Read to check our honest review and opinion on GT.IO for South African traders. According to our review, the standard trading account is fairly suitable for South African traders due to the availability of ZAR based account. The cryptocurrency based trading account is a unique and fruitful feature for a regulated broker that gives gt.io the upper hand over many regulated brokers in South Africa.
The very 1st thing to be concerned about while reviewing or deciding to trade with any broker is checking its authenticity and licenses along with the regulatory obligations. All those brokers which are properly regulated can be traded with and invest in as they are safe and secure, on the other hand, we would recommend you to be cautious and avid offshore brokers. Our reviews found that the GT Group offshore retail brokers do not accept clients from Europe or North America. In this respect, we cannot identify any regulatory issues for the jurisdictions of these regions. However, the regulatory situation in Asian countries seems questionable to us. Moreover, FXGT.com is committed to providing its clients with a fair trading experience.
Distinctive features
Additionally, they offer a range of educational resources such as webinars, weekly newsletter, educational e-books and video tutorials to help traders improve their skills and stay informed. ForexBrokers.co.za is a broker comparison & education website for South Africans. The only non-trading fees applicable to traders is the inactivity fees but it will only be incurred if no trades are executed for more than 12 consecutive months.
Deposit Options
And although Global GT has been innovative in terms of the trading instruments it offers, the broker has chosen the traditional path when it comes to trading platforms, offering the classic MetaTrader 5 (MT5) as its only platform. As most of our readers probably know, this is a platform that has stood the test of time, having been one of the most popular retail trading platforms since its inception in 2010. However, the platform still remains highly relevant today, with for example an unmatched selection of so-called Expert Advisors (trading algorithms) to choose from. Overall, the number of capital markets and trading instruments is decent when compared to other regulated brokers in South Africa. The customer support service at gt.io is decent as traders can reach out to support executives through live chat but there is no local phone support for traders in South Africa. Gt.io is a recently launched STP forex and CFD broker based in South Africa and Seychelles.
- Gt.io was launched in 2020 and allows traders to trade with cryptocurrencies as base currency along with traditional fiat currencies.
- The standard trading account can be opened with ZAR, USD, EUR, JPY, BTC, ETH, and USDT as base currencies by the South African traders.
- Additionally, we should mention that working hours for the broker’s support team are missing from the website, which makes us doubt that 24 hour support is really available here.
- For example, a trader could choose to trade Bitcoin against the Nasdaq or the Dow Jones index rather than against the US dollar, or even trade Bitcoin against single stocks like Apple and Facebook.
Updated Review For GT Group And Its Offshore Broker Schemes With A Green Compliance Rating.
The spread on BTC/USD starts from 1.75 pips per lot while for ETH/USD, it is 0.08 pips per lot. After sign-up, all new clients need to gt io markets deposit some funds to their account to start trading. With Global GT, this can be done via traditional bank wire transfers, MasterCard, Sticpay, Neteller, Skrill, as well as directly with the cryptocurrencies Bitcoin, Ether, and USD Tether. Note that the minimum deposit amount for bank transfers to Global GT is USD/EUR 100 (ZAR 2,000), while the other funding methods have much lower minimum deposit amounts. Overall, we liked the non-trading fee structure but the trading fees or spreads are slightly higher than many of the regulated forex and CFD brokers in South Africa. However, to get started with them, they at first offer a demo account on trial basis.
Account Types
- Additionally, they offer a range of educational resources such as webinars, weekly newsletter, educational e-books and video tutorials to help traders improve their skills and stay informed.
- Instead, clients who need support are asked to contact the broker either via live chat, email or a message form on the website.
- Gt.io is a recently launched STP forex and CFD broker based in South Africa and Seychelles.
- ForexBrokers.co.za is a broker comparison & education website for South Africans.
This user-friendly design is essential for both novice and experienced traders who need to access information quickly and efficiently. Yes, gt.io offer ZAR base currency account to South African Trader with several benefits. Right after opening of your account, you will be facilitated with the services like trading of money, managing it as well as transferring of money with all the relevant reports are provided to your personal account. Traders can transact through 3 cryptocurrencies namely BTC, ETH, and USDT with no additional charges. The processing time is less than 30 minutes for a deposit while withdrawals through cryptocurrencies can take up to 24 hours. FinTelegram is a cyber finance intelligence platform focused on exposing financial crime, regulatory violations, and high-risk investment schemes.
FXGT Review
In summary, it’s pretty clear to us that Global GT has taken the recent wave of crypto trading seriously by integrating this new universe with the existing world of stocks and forex pairs. We believe their “hybrid broker” approach is pretty unique and original, and that it could open up many new opportunities for traders looking to diversify their exposure. Unfortunately, this broker has not made any phone numbers to customer support available on its website. Instead, clients who need support are asked to contact the broker either via live chat, email or a message form on the website. Additionally, we should mention that working hours for the broker’s support team are missing from the website, which makes us doubt that 24 hour support is really available here. The offshore broker schemes are operated by a group of companies, including the FSCA-regulated GT IO Markets (Pty) Ltd.
For fiat currency deposits, gt.io does not accept local bank deposits from South African banks but traders can transact through credit/debit cards, bank wire transfers, and various e-wallets. The minimum deposit amount and processing time of the transactions are different for each selected method. This means that in case if the account balance depreciates below 0, the negative balance will automatically be converted to 0. We have comprehensively compared every component of fees at gt.io for South African traders.
