GFC Markets
GFC Markets Review
GFC Markets is a relatively new online Forex broker based in Cyprus and owned by Safecap Investments Limited. The broker is fully licensed with the European Union and is also CFD regulated. They offer a wide range of financial products and services and are quickly making a name for themselves on the market due to their top notch trading platform, excellent services and uncompromising financial standards.
| Broker | Broker Details | Spread | Min Deposit | Max Leverage (p.a.) | Min Trade Size | Pairs | |
|---|---|---|---|---|---|---|---|
 GFC Markets |
Open a Free $100,000 Practice Account with GFC Markets | 3 | Min $100 | Min 1:200 | Min 5,000 | 44 |   |
An Overview of GFC Markets
GFC Markets is a new online Forex broker that is becoming quite a powerful player in the market due to their professional setup. The broker is based in Cyprus and is regulated under the European Union’s Financial Instruments Directive, which demands that the broker adhere to strict regulations. GFC Markets is authorized to operate in all the member states of the European Economic Area and as such is registered with eight regulatory bodies spanning the EEA, including with the Financial Services Authority in the UK and the Netherlands Authority for the Financial Markets, to name a few. Being based in Cyprus, they are also subject to the Cyprus Securities and Exchange Commission.
GFC Markets: The Trading Platform
GFC Markets makes trading as easy as possible by offering four different platforms so that traders may choose the most efficient solution. Three of the platforms are proprietary software while the last, but definitely not least, is the ever popular MetaTrader 4.
Their proprietary software is available both in a downloadable, Windows based platform as well as an online version. It is a comprehensive, yet easy to use platform based on ACT Forex technology, which means that it has all the standard features such as entry orders, stop losses, market orders, take profit, trailing stops, OCO (one cancels the other) orders and more. It also comes with charting and analysis tools built in and it is very flexible allowing traders to customize it to their heart’s content, both from an operational as well as a design viewpoint.
Traders using other operating systems, such as Linux or Mac, can use the online version of the proprietary software, which is practically identical to the downloadable platform. Additionally, this is also an excellent way for customer to conduct trades from any terminal.
Additionally, GFC Markets offers traders the ability to trade while on the go via their GFC Mobile platform designed to work on any mobile device, from mobile phones to PDAs, as long as there is Internet access.
For traders who prefer the flexibility of installing their own expert advisers and writing their own indicators, then MetaTrader 4 is the perfect solution, another platform offered by GFC Markets. This platform is preferred by professional traders due to the incredibly advanced analysis tools it comes with as well as the level of customization, including charts on custom time frames, automated trading with expert advisers and much more.
GFC Markets: Accounts
GFC Markets offers a wide range of accounts from mini accounts that require a minimum deposit of only $50 and offer 200:1 leverage to VIP accounts that require a minimum $20,000 deposit but offer top notch services. These include unlimited access to a Personal Market Dealer, free trading signals and the latest news, both delivered via SMS and more. New customers receive a bonus depending on the size of their deposit as well as the account type. So, for example, mini account holders can receive up to $250 in bonuses, standard accounts qualify for up to $2,000 and have free access to the GFC Markets News to Mobile service and VIP accounts receive special welcome bonuses tailored to each individual account.
GFC Markets also offers practice accounts for beginner traders looking to sharpen their trading skills, or for those looking to test their trading platform and services. Traders receive 100,000 in virtual funds and can trade any of the instruments GFC Markets offers. The practice accounts include real-time charts as well as news and analysis. It should be noted, however, that free practice accounts have a 30 day limit.
All accounts have tight, fixed spreads, starting at 3 pips for the majors, which account for GFC Markets’ revenue as they have a strict no commission policy. However, it should be noted that spreads are doubled after 22:00 GMT until 04:00 GMT.
Customers can fund their accounts with any major credit card, fast wire transfers, regular wire transfers and with WebMoney. Besides Forex, GFC Markets also enables their customers to trade CFD, stocks, commodities and indices.
GFC Markets: Resources
GFC Markets also offer novice traders a comprehensive list of educational materials covering the basics of trading for the Forex and CFD markets, fundamental analysis techniques, technical analysis strategies and more. All the educational materials are very informative but easy to understand, even for those who have no idea what the Forex market is all about.
They also provide the latest news from the Foreign exchange market and as well as an in-depth analysis of the events. There is also coverage of indices and commodities available and an economic calendar covering all the important data releases. Furthermore, for live accounts, GFC Markets offers trading signals through their proprietary platform under the Technical Analysis Tab.
GFC Markets: Customer Service
The broker offers a multi-lingual 24 hour customer support service via phone or email. GFC Markets offers customers over 25 local phone numbers spanning the entire globe, making it easy to get in touch with them whenever a trader may have a problem or require guidance. However, it is rather surprising that they have not implemented a live chat feature, especially since most online Forex brokers offer support via this communication channel.
GFC Markets: Conclusion
Overall, GFC Markets appears to be a highly reputable broker and are truly customer oriented as they try to make the trading experience as pleasant and as profitable as possible. Proof of this is the flexible trading platform as well as the fact that they continually update and expand their education and news centers with breaking news, market overviews and in-depth analysis as well as the latest in trading trends and techniques.
