GFT

WikiFX | 2022-10-25 16:16

Abstract：GFT, a trading name of GoldFxTrading, is allegedly a forex and CFD broker registered in the United Kingdom, claiming to provide its clients with various tradable financial instruments with leverage up to 1:1000 and floating spreads from 0.2 pips on the MT4 trading platform via three different live account types.

Note: GFT is to operate via the website - https://web.goldfxtrading.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

The claimed United Kingdom FCA regulation (license number: 438879) is verified as a clone firm. Please pay attention to the risk!

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

GFT, a trading name of GoldFxTrading, is allegedly a forex and CFD broker registered in the United Kingdom, claiming to provide its clients with various tradable financial instruments with leverage up to 1:1000 and floating spreads from 0.2 pips on the MT4 trading platform via three different live account types. Here is the home page of this brokers official site:

As for regulation, it has been verified that GFT holds a cloned Financial Conduct Authority (FCA) license. That is why its regulatory status on WikiFX is listed as “CLONE” and receives a relatively low score of 1.89/10. Please be aware of the risk.

Market Instruments

GFT advertises that it offers its customers online trading of currencies, commodities and major stocks via CFDs.

Account Types

Apart from demo accounts, GFT claims to offer three types of live trading accounts - Basic, Professional and Extended, with minimum initial deposit requirements of €500, €5,000 and €20,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.

Leverage

The leverage provided by GFT is capped at 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

The EUR/USD spread provided by GFT varies from 0.2 to 1.8 pips.

Trading Platform Available

The platform available for trading at GFT is one of the most notable and preferred trading platforms the market offers - MetaTrader4. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

GFT accepts payments with credit/debit cards like VISA and MasterCard, as well as bank wire. The minimum initial deposit requirement is said to be €500. There is no deposit fee charged.

Customer Support

GFTs customer support can be reached by telephone: +44208144 0609 +390550107790, email: info@goldfxtrading.com. Company address: 1st Floor, First St.Vincent Bank Ltd Bldg, James st, PO. Box 1574, Kingstown, St.Vincent and The Grenadines.

Pros & Cons

Leverage Broker Currency Pair Dealer Forex Broker Forex Currency pair leverage in forex forex pips forex market Stock

Related broker

Not Regulated

GFT

Company name：GoldFxTrading

Score

1.58

Website：https://web.goldfxtrading.com/

5-10 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.58

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