Gtcfx

GTC FX Review: Is GTC FX Broker Good?

Broker overview and general information

GTC FX is a globally recognized and regulated broker founded in 2012, focusing on providing financial derivatives services to over 985,000 clients in over 100 countries. Using cutting-edge technology and high service standards, the broker excels in providing a wide range of online trading products with a focus on innovation and compliance with financial regulations.

Broker Licensing and Regulation

If you ask whether GTCFX is good or not, you must first consider the license factor. The broker has the following licenses:

• Vanuatu Financial Services Commission (VFSC), Republic of Vanuatu, License No. 40354 under GTC GLOBAL TRADE CAPITAL CO. LIMITED.

• Mauritius' Financial Services Commission (FSC) License No. GB22200292 under GTC GLOBAL LTD.

• Securities and Commodities Authority (SCA), United Arab Emirates, License No. 20200000007 under GTC MULTI TRADING DMCC Company.

• Australian Securities & Investments Commission (ASIC), Australia, License No. 496371 under Gtc Global Pty ltd.

Products and services

Trading products

Brokers offer a wide range of investment products to suit all needs, covering Forex, metals, stocks, commodities, indices and energies.

• Trade Forex: Trade Forex on a variety of popular currency pairs, Major, Minor and Exotic, with the advantage of having a narrow spread starting at 0.0 Pips and being able to increase Leverage up to 1:2000, allowing investors to make hundreds of thousands or millions in profits.

• Metals: You can trade a variety of metals, whether it's the XAGUSD pair or gold like XAUUSD. You can trade and make profits in the highly volatile metal market.

• Indices: Trade global indices in the most popular indices worldwide such as S&P 500, NASDAQ, NIKKEI 225, etc.

• Commodities: Allows investors to choose to invest in many types of commodities that are in high demand in the market, and there are many types to choose from, helping investors' portfolios to be flexible, which is a good way to spread investment risk.

• Stocks: Trade world-famous stocks in all types of businesses, whether it's the technology market like Apple INC (AAPL), Amazon INC (AMZN), the automotive business like TESLA (TSLA), or the entertainment business like NETFLIX INC (NFLX).

• Energy: Trade a wide range of energies, especially high-value ones like oil. Trade CFDs to profit from market analysis and oil price readings.

Trading Platform

Brokers support investment through 2 main platforms: MT4 (MetaTrader 4) and MT5 (MetaTrader 5).

1. MT4:MetaTrader 4It is a trading platform suitable for beginners. It is easy to use. There are many Indicators tools that will help you trade efficiently. It is not complicated. It can be used via PC, Mac and Mobile (iOS, Android).

2. MT5:MetaTrader 5It is a trading platform that has been further developed from MT4 to be more detailed. It is suitable for investors with a certain level of expertise. However, if you are proficient in using MT5 with a variety of tools that are more detailed, it will help you trade more efficiently.

GTCFX Review: Account Types  

Brokers divide their trader accounts into three types: Standard Account, Pro Account and ECN Account.

Standard Account

• Minimum deposit $0

• Leverage  Maximum 1:2000

• Average spread 1.4 Pips

• Commission 0$

• Direct access to leading banks

• Access 7 markets with over 27,000 trading instruments.

• Prevent negative balance

• There are no trading restrictions.

Pro Account

• Minimum deposit $50

• Leverage  Maximum 1:2000

• Average spread 0.9 Pips

• Commission 0$

• Direct access to leading banks

• Access 7 markets with over 27,000 trading instruments.

• Prevent negative balance

• There are no trading restrictions.

• 80+ technical analysis tools

ECN Account

• Minimum deposit $3,000

• Leverage  Maximum 1:500

• Spread 0.0 Pips

• Commission starts at $5/lot

• Direct access to leading banks

• Access 7 markets with over 27,000 trading instruments.

• Prevent negative balance

• There are no trading restrictions.

• #1 Liquidity with ECN Technology

• Market analysis assistant

• Trading tools to view trading signals for free

Deposit and Withdrawal

Deposit

Deposit channels Third party payments are not allowed. Users must use a bank account or card in the same name as registered. Deposits can be made via bank accounts, payment systems, credit/debit cards. In the case of new customers or those who want to use a new card, they must go through the "Whitelisting" process. PSP does not charge a deposit fee from the company, but banks or e-wallets may charge a fee. The deposit period will appear in the system within 48 hours.

Withdrawal

For withdrawals, users must have sufficient margin in their account to cover the withdrawal. Withdrawals cannot be made in excess of the amount deposited via credit card. In the event of profits or if the card has expired, withdrawals will only be made via the registered bank account. The processing time is 24 hours for e-wallets and 3-5 business days for bank transfers. Additional fees may be charged by the recipient's bank.

Support and Customer Service

For foreign investors or Thai investors who want to invest, you can contact customer service 24 hours a day through this channel.

• E-mail:support@gtcfx.com

• Website:https://gtcfx.com/

• Facebook:https://www.facebook.com/gtcfxofficial

• Supported languages:Total 21 languages

Broker Review Overview Summary

GTCFX has some interesting advantages, such as offering a wide range of account types, including PAMM accounts. However, the broker also has quite a few disadvantages, and they are quite significant. Many users have reported problems with unauthorized trades, resulting in huge losses of funds. Withdrawals have also been heavily criticized, with withdrawals being canceled or rejected without any clear reason. There are also concerns about the lack of transparency in operations, and many users have raised concerns about the reliability of the license from the UAE's SCA authority.

Frequently Asked Questions about GTCFX

1. What platforms can I use to trade Forex?

A: You can trade via MetaTrader 4 (MT4), MetaTrader 5 (MT5) platforms.

2. What assets are available for trading?

A: There are a wide range of assets to trade, covering Forex, Metals, Stocks, Commodities, Indices and Energies.

3. What is the maximum leverage?

A: Standard and Pro accounts can trade up to 1:2000, while ECN accounts can trade up to 1:500.

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GTC FX Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide on the broker that suits your needs.