8 reviews of GFT Forex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
I have something to add here about GFT.
I had a live account with them for a few months and never had a problem with executions. On the other hand, I was losing money so good execution is hardly to their credit (not GFT's fault, I was trading a bad system.) After about 2 months I realized my system was flawed and stopped making live trades. A few weeks later GFT notified me that I would be charged an "inactivity fee" of something like $10 monthly unless I started trading live again. However I had the option of placing my account on an "inactive status" which meant that I couldn't place any live trades but also wouldn't be charged any inactivity fees. I went ahead and did that without issue.
A few months later I pulled all my money out to fund a futures account. Absolutely no issues with that transaction...had my money in a few days and they even helped me fill out the online form.
So far, so good.
Well, maybe 6 months after I closed my account I decided to get back into Fx trading. I immediately thought of GFT because my experience there had been so positive. Getting the money back in was a snap...even though I had pulled all my funds out they had kindly left the account open (without informing me of that) so all I had to do was fill out another online form to debit my card and I was good to go.
THEN the problems started...
Immediately after my funds posted into my old account I was charged a $50 inactivity fee. Huh??? From their perspective, when I had pulled my funds out before it somehow cancelled the "inactive status" I had arranged previously and so the old inactivity fees started building up against the empty account. As soon as my money went back in...WHAMMO! they hit me with the fee. It's almost as though they had been just waiting there for it to happen.
I protested on the basis of common decency...I mean how could I have known?...but they wouldn't budge. That fee was all important to them.
I closed my account re-withdrew my funds and moved on. I certainly don't want to do business with a company where shady, highly questionable fees are more important than client relationships.
GFT is the most bureaucratic broker!!!
You must make copy ID and bank statement – it is normal.
You muss make copy of credit card (it is yet ok),
however and then you must send copy bank statement of card transaktion (after make deposit)!!!!
Registration is very very difficult process.
GFT, the name i hate to hear anytime it's mentioned. I deposited $30,000 with them and once you are making profit, they block you until you positive turn negative. One day, my $3,000 profit turned negative and many more. The system they operate again, is that when you place a wrong order, then you are finished. You be blocked until you money runs off and when asked they will tell you to try logging in with "DEALBOOK 360". You to dealbook360, you can't still log-in. Very bad broker, run away.
Stay away from them, they charge hidden fees..
look i am confused the training group i waas going to join up with reccommended gft as broker but the reviews i am getting about them are not flattering shall i run and keep the hell away
250 $ is the mini account, but with a mini account you cannot use indicators!
Yes, you read well: no indicators at all!! Not even the simple average!
To use indicators you need at least a 2500$ account.
The demo account expires in 30 days and there is no way to renew it!
It is not written anywhere in their website... But after 30 days you just get an alert: "Demo account expired, open a real one to continue".
So, even if their platform, Dealbook 360, is a very good piece of software I definitely do NOT recommend this broker!
I have never come across this and wonder if you have! It involves GFT FOREX FX FDM aka GLOBAL FOREX TRADING BROKER uses DEALBOOK 360 not equal to Currenex. Dukascopy Mann Financial Propfx division FXCM Dollar Euro pound GBP JPY currency trading.
1. I liquidate my position and it displays a profit or loss.
2. The settlement date is 2 days from the date I liquidate.
3. GFT claims I am liable for any loss they incur from the time I liquidate my position to the settlement day.
4. GFT uses a trading desk so my orders do not reach the Interbank. My profit or loss shows immediately.
5. GFT Charged me for pip movement between the time I liquidated and the date set for settlement by the Interbank seems most unfair.
6 I pay GFT in advance and GFT takes my money on the spot therefore the settlement day should not affect my transaction.
7. GFT took money out of my account without notification to cover their loss because they chose to take advantage of the two day float. I will give them the benefit of doubt here because I really do not know if they placed my trade or not, but I do know GFT uses a balancing engine and hedges against your trade. Simply put GFT trades against you but you will never get GFT FOREX to admit it. If you are curious how their game works HERE IS THE FORMULA… 55% are long and 45% are short. They only have to trade the difference or 10% give or take a few pips for safety. If you think the bank gets all the spread think again.
8. Test this if you wish… Ask Wayne McDonald and or FXbootcamp or GFT’S internal sales team then go to your dentist and have a tooth pulled…. COMPARE THE TWO
Has anybody come across a Broker with this policy? I have not and if you wish copies of their conflicting emails just ask.
A dreadfull experience from start to finish. Impossible to make any money with a mini account - even when you win, you loose - hidden fees and charges more than take any profit.
And now I can't get my remaining funds returned. Closed my account 5 weeks ago and my wired funds appear to be lost in 'cyber space' and no one gives a rats arse. Get out now if you can - GFT could be next to go to the wall!
Complaint made to NFA.