General Information
GCMasia is a forex and CFD broker and works in association with fortrade, promoting its services and platforms in the asian region. fortrade is the trading name of fortrade ltd, llc “fort securities blr”, and fort securities australia pty ltd. for trade ltd. is authorized and regulated by the financial conduct authority (fca) with firm reference number (frn) 609970. llc “fort security blr” was registered by the minsk city executive committee on may 8, 2018 under the number 193075810.
Pros and Cons
Is GCM legal?
GCM is being described as suspicious and potentially involved in a scam. the text mentions that GCM It claims to be regulated by the Financial Conduct Authority (FCA) in the UK under license number 609970. However, this FCA regulation is claimed to be suspected of being a clone.
Market Instruments
Customers can trade more than 300 products on GCM Asia , including forex, bonds, stocks, indices, precious metals, commodities, etc.
market instruments offered by GCM They include currency pairs, CFDs on precious metals, CFDs on commodities, CFDs on shares, CFDs on indices and Treasury bonds.
Currency pairs:
GCMprovides access to the foreign exchange market, which is known for its high liquidity, with approximately $5 trillion traded daily. Traders can choose from over 50 currency pairs, including popular options such as eur/usd, gbp/usd, aud/usd, and usd/jpy. the advantages of trading currency pairs with GCM they include zero commissions, high leverage, and the ability to trade the forex markets 24 hours a day, five days a week.
CFDs on precious metals:
GCMoffers traders the opportunity to trade precious metals, which are often sought after as safe-haven assets in times of uncertainty and market volatility. Traders can participate in CFDs (contracts for difference) on metals such as gold, silver, platinum, and palladium. the benefits of trading precious metals cfds with GCM they include precise execution with no requotes, zero commissions, and high leverage.
Commodity CFDs:
GCMIt allows traders to diversify their portfolios by trading CFDs on commodities. This includes fixed spreads on commodities such as oil, natural gas, soybeans, corn, and other energy and agriculture related CFDs. traders can speculate on the price movements of these commodities without taking actual ownership. Like other instruments, CFDs on commodities come with zero commissions and high leverage.
CFDs on shares:
for portfolio diversification, GCM offers stock CFDs on a variety of US, Australian and European stocks. Traders can choose from over 200 stocks from popular marketplaces like Facebook, Amazon, Alibaba, and more. With stock CFDs, traders can enjoy zero commissions, high leverage, and accurate execution.
CFD index:
GCMProvides the opportunity to trade indices CFDs, allowing traders to engage in spot indices CFD trading. Traders can choose from more than 20 indices from the US, European and Asian markets. Index CFDs offer zero commissions, high leverage, and fast order execution.
Treasures:
GCMAllows CFD trading on United States Treasury securities issued by the United States Department of the Treasury. Traders can participate in CFDs on 5-, 10-, and 30-year US Treasury securities. the advantages of trading treasury bonds with GCM they include zero commissions, high leverage, and enhanced execution.
Account Types
STANDARD ACCOUNT
The standard account offered by CMAsia is suitable for traders who want to start with a relatively small deposit of $100. This account allows traders to execute trades with a minimum trade size of 0.01 lots. With a maximum leverage of 1:200, traders can expand their trading positions. However, it is important to note that higher leverage also comes with higher risk. The standard account has an average margin of 2.5 pipes, It represents the difference between the buy and sell price of a currency pair.
PREMIUM VIP ACCOUNT
CMAsia provides the Premium VIP account for high-level clients seeking additional benefits and personalized services. VIP clients have the opportunity to participate in professional training courses that can enhance their knowledge and understanding of investment strategies. They also receive access to free forex training materials, allowing them to expand their trading skills. In addition, the Premium VIP account grants exclusive access to expert risk management advice, allowing clients to apply advanced investment techniques and minimize potential risks.
ECN PRO ACCOUNT
The ECN Pro account is designed for high volume traders who require direct access to the interbank market. This type of account offers the advantage of operating with low transaction costs through a commission-based model. By paying a small fee per transaction, merchants can lower their costs and potentially increase their overall profits. ECN Pro account benefits are tied to trading volume, which means that as traders execute more trades, they gain access to additional benefits and features.
DEMO ACCOUNT
CMAsia also offers a Demo account, which serves as a practice platform for traders. This account allows people to get familiar with the trading platform and test various strategies without risking any real money. Traders can simulate real market conditions and assess the effectiveness of their trading strategies without fear of financial loss.
Leverage
leverage in the context of GCM Asia refers to the ability provided to traders to enlarge their trading position size by a specified multiple. GCM Asia offers standard leverage options to its traders, allowing them to increase the size of their trades. the maximum leverage available is 200:1, which means that traders can control a position that is 200 times larger than their trading account balance.
Non-commercial rates
non-commercial fees refer to charges collected by GCM Asia that are not directly associated with commercial activities. an example of such a fee is the inactivity fee. this fee is applicable to accounts that remain inactive for a continuous period of 180 days or more. GCMAsia imposes a monthly fee of $10 or an amount equal to the Inactivity Fee.
Spreads and Commissions
GCMAsia offers spreads starting at 2.5 pipes and it's not impose a minimum deposit requirement for traders. the spreads offered by GCM Asia It can affect trading costs and profitability, so it is crucial for traders to assess the implications of their spread and commission structure.
Business platform
GCMAsia offers two trading platforms: GCMasia pro y metatrader 4.tThese platforms cater to traders who are looking for different features and functionality, giving them options based on their preferences and trading styles. Both platforms are designed to be accessible from a variety of devices, including Apple and Android mobile devices, PCs, and tablets.
GCMasian professional is a trading platform available as an android/ios app, which allows users to trade a wide range of more than 300 products. The mobile app allows traders to access the platform anytime, anywhere, giving them the freedom to manage their trades on the go. GCM Asia pro offers a user-friendly interface, making it easy for traders to navigate through the platform and execute their trades efficiently. Additionally, the platform incorporates a range of features that enhance the trading experience, providing users with tools and resources to make informed trading decisions.
Metatrader 4, on the other hand, it is a widely recognized and popular trading platform in the industry. It is accessible from Android devices, mobile devices, PCs and tablets, allowing traders to choose their preferred device.
Trading tools
GCMasia offers a range of trading tools designed to assist traders in their decision-making process and enhance their overall trading experience. These tools can be classified into various types, each with a specific purpose.
Economic Calendar: The Economic Calendar is a valuable tool that displays important economic announcements and events. It provides traders with information on key economic indicators such as interest rate decisions, GDP releases and employment data. By staying up to date on these events, traders can anticipate market volatility and adjust their trading strategies accordingly.
Currency calculator: The currency calculator allows traders to quickly convert between different currencies. It helps them assess the value of different currency pairs and make informed trading decisions. This tool eliminates the need for manual calculations and provides accurate currency exchange rates in real time.
Interchange Fee Calculator: The Swap Rate Calculator is designed to help traders calculate overnight swap rates for holding positions overnight. This information is crucial for traders who are engaged in long-term trading strategies and need to take into account any costs or benefits associated with holding positions overnight.
Pipe Calculator: Pip Calculator is a simple tool that allows traders to calculate the value of a pip for various currency pairs. It helps traders determine the potential profit or loss on a trade based on pip movement, allowing for better risk management and position sizing.
Margin Calculator: The Margin Calculator is an essential tool for traders as it helps them calculate the margin required to open or hold positions. It helps traders understand the amount of leverage they can use and the potential risk involved in their trades.
Strategy, daily analysis and weekly analysis: GCMAsia also offers various strategies, daily analysis and weekly analysis to provide traders with valuable information and research. These resources help traders identify potential trading opportunities, analyze market trends, and make informed decisions based on fundamental and technical analysis.
Deposit and Withdrawal
- CHINA (Credit/Debit Card, WeChat Pay, Alipay): in China, GCM Asia offers various deposit options to meet the preferences of Chinese merchants. Customers can use credit/debit cards (china union), wechat pay or alipay to fund their business accounts. these options provide a familiar way for Chinese traders to add funds and start trading.
- MALAYSIA (FPX Payment, Online Banking): for customers in malaysia, GCM Asia offers two deposit options: fpx payment and online banking.
- INTERNATIONAL (Credit/Debit Card, BitPay, Neteller, Skrill, Bank Transfer): International customers have a wider range of deposit options. They can choose to deposit funds via credit/debit card (VISA, MASTER, AMEX), BitPay, Neteller, Skrill or bank transfer.
GCMAsia recommends a minimum initial deposit of €/$/£500, depending on the base currency chosen by the merchant. However, it is also possible to start trading with a smaller amount as low as 100€/$/£.
Educational Resources
In addition to webinars, GCM Asia it also offers educational materials in the form of articles and guides. These resources cover a wide range of trading-related topics, including risk management, trading psychology, trading strategies, and market indicators. The articles are written by experts in the field and aim to provide traders with in-depth knowledge and practical advice.
Customer Support
customer service in GCM Asia involves providing assistance and addressing user queries. They offer various channels such as phone, email, facebook and instagram to make it easy to communicate with their support team. the telephone numbers available for English-speaking users are +1 800-81-9796 and +62 212-7899-369. users can also contact customer support via email at cs@ GCM Asia .com. GCM Asia customer support operates 24/5, allowing users to seek help during most trading hours.
Conclusion
in conclusion, GCM (either GCM Asia ) seems to be a broker with several drawbacks and risks. The broker is labeled as suspicious and potentially involved in scams, and its UK Financial Conduct Authority (FCA) regulatory license is suspected to be a clone. complaints and negative reviews further raise concerns about the credibility of the broker. on the positive side, GCM offers a wide range of market instruments, including currency pairs, CFDs on precious metals, CFDs on commodities, CFDs on shares, CFDs on indices and Treasury bonds. it also provides different types of accounts to suit the preferences of traders and offers two trading platforms, GCM pro and metatrader 4.
2023-03-23 18:10
2022-12-15 11:10
