GBE brokers-Overview of Minimum Deposit, Spreads & Leverage
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| GBE Review Summary | |
| Company Name | GBE brokers Ltd |
| Founded | 2015 |
| Registered Country/Region | Cyprus |
| Regulation | CYSEC (Regulated) |
| Demo Account | Available |
| Market Instruments | Indices, shares, forex, metals, commodities, energies, bonds |
| Leverage | 1:30/1:400 |
| Spread from | 0.7 pips (classic) |
| Minimum Deposit | 1000 EUR/USD/CHF |
| Trading Platform | MT4/5 |
| Customer Support | Phone: Cyprus - +357 25 281736 Germany - +49 40 605 90 10 40; Dubai - +971 45547500; Email: info@gbebrokers.com; Live Chat, Contact Form, Social Media: Facebook, LinkedIn, Instagram, Youtube |
What is GBE？
GBE Brokers Ltd is a Cyprus-based Contract for Differences (CFD) broker, operating since 2015. It has a presence in multiple regions, including Germany, with an office situated in the Port of Hamburg.
As a regulated entity under the Cyprus Securities and Exchange Commission (CySEC), holding a CIF license number 240/14, GBE Brokers is bound by stringent guidelines designed to ensure transparency, security and customer protection in its operations.
Pros & Cons
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Pros:
Abundant Market Instruments Provided: With over 500 different trading instruments, GBE brokers offers a broad range, enabling portfolio diversification.
Regulated by CYSEC: Its regulatory status under the Cyprus Securities and Exchange Commission (CYSEC) provides assurance of transparency, security, and customer protection.
Support Wide Range of Countries: GBE brokers Ltd. demonstrates global customer acceptance, as suggested by multiple customer support phone lines from different countries.
Cons:
Not Very Well-made Interface: Despite its impressive service offerings, GBE brokers might seemingly have some areas for improvement in terms of its interface, such as enhancing user experience, navigation, and overall design.
Is GBE Safe or Scam？
GBE Brokers Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) under CIF license number 240/14. This regulatory status confers a higher level of security as financial firms under CySEC are required to operate with transparency and fairness. Clients' funds are typically held in segregated accounts, separate from the company's own funds, and regular audits are conducted to ensure the firm sticks to best practice.
GBE implements two primary measures for fund security: segregation of client accounts and a policy against negative balances. Segregation implies that the client funds are stored separately from the operational funds of the company, thus ensuring that client funds are shielded in case financial issues occur within the company. Additionally, the policy of protection against negative balances restricts client losses to the amount deposited, preventing situations where clients owe more than their initial investment due to volatile market shifts.
Trading Instruments
GBE Brokers Ltd. provides its investors a wide-ranging portfolio of more than 500 various trading instruments to invest in. This diversification better equips clients to develop a varied investment portfolio in line with their personal financial goals and risk tolerance. These include:
Indices: Also known as indexes, these represent a particular section of a financial market, allowing investors to trade on the performances of whole sectors rather than individual companies.
Shares: This represents equity investment in individual public companies.
Forex (Foreign Exchange): This pertains to the trading of diverse currencies against each other, aiming to profit from fluctuations in exchange rates.
Metals: Commodities like gold, silver, platinum, and others that can be traded.
Commodities: A broad category including grains, oil, food, and other raw materials.
Energies: This could entail trading oil or natural gas contracts, among others.
Bonds: These are fixed-income securities where an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a pre-determined interest rate.
Account Types
GBE Brokers Ltd. provides two types of accounts to cater to the different needs and preferences of its clients: GBE Classic and GBE Plus.
The GBE Classic account requires a minimum deposit of 1,000 units (in either EUR, USD, CHF), making it more suitable for clients who are looking to invest a larger amount of money.
On the other hand, the GBE Plus account has a lower barrier for entry with a minimum deposit requirement of only 500 units (in either EUR, USD, CHF), making it more accessible for those who prefer to start with a smaller initial deposit.
Leverage
In terms of leverage, the maximum offered by GBE brokers depends on the client's classification. For retail clients (individual investors), the maximum leverage is limited to 1:30. This level of leverage allows clients to trade positions up to 30 times their initial deposit.
For professional clients (usually institutions or individuals with significant trading experience and portfolio size), the maximum leverage increases substantially to 1:400. This level allows a much larger trade size, which can lead to increased potential for profits, but also a higher risk of losses.
Spreads & Commissions
GBE Brokers Ltd. uses a commission and spread structure based on the type of account and trading instrument.
For the GBE Classic account, spreads without commission start from 0.7 pips, which means that the trading cost for most currency pairs is low, offering more economical trades for its clients.
On the contrary, the GBE Plus account has spreads starting from 2.0 pips without commission.
When commissions are taken into account (marked as EURUSD), spreads start from an extremely competitive 0.0 pips for both account types.
In terms of commissions, there are no additional charges for Forex pairs such as EURUSD as well as for shares. However, GBE Brokers Ltd. does charge a commission of 0.4% of the trading volume for transactions involving cryptocurrencies. This is a cost that traders involved in crypto must bear in mind.
Trading Platforms
GBE Brokers Ltd. provides its clients with two of the most popular and largely utilized trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Both platforms come with their own suite of analysis tools, charts, indicators, and automated trading capabilities, which are immensely beneficial for traders looking to gain an edge in the fast-paced world of financial trading.
Moreover, GBE brokers has ensured accessibility by providing these platforms across multiple formats. They are available on Desktop systems for those who prefer a more robust, full-featured trading experience.
The Web version provides the convenience of trading directly from your browser without needing to download or install any software.
Finally, the Mobile version of the MT4 and MT5 platforms allows clients to monitor and manage their trades on-the-go from their smartphone or tablet devices.
Deposit & Withdrawal
GBE Brokers Ltd. caters to a wide array of deposit and withdrawal methods, offering flexibility to its clients. To deposit funds, clients can use several banks including Raiffeisen Bank Austria, Hellenic Bank Cyprus, Astro Bank Cyprus, and Sutor Bank Germany or choose from other options such as Credit Card PaySafe, Neteller/Skrill Great Britain, and PayPal (for EU citizens only).
The minimum deposit required is 1,000 EUR/USD/CHF, setting a creative benchmark for account funding. In terms of withdrawals, SEPA Transfers in Euro are free of charge which could be a cost-effective method for clients operating their account in Euro.
However, for other withdrawal methods, GBE brokers applies a fee of 0.15% of the withdrawal amount with a minimum charge of 15 EUR/20 USD/20 CHF. This cost should be considered when planning withdrawals.
It is important to note that GBE brokers does not accept cash deposits and maintain strict policies against third-party payments, probably aimed at increasing the security and preventing potential fraudulent activities.
Customer Support
GBE Brokers offers comprehensive customer service through various methods. Customers can reach out to them through telephonic support available in Cyprus at +357 25 281736, in Germany at +49 40 605 90 10 40, and in Dubai at +97145547500. The available time period is from 9:00 - 18:00.Email support can be received at info@gbebrokers.com. Moreover, they provide a Live Chat feature on their website, which can be utilised for instant assistance and inquiry resolution.
GBE Brokers also has a Contact Form provided on their website that their customers can use to send detailed inquiries. They maintain a presence on several social media platforms as well, such as Facebook, LinkedIn, Instagram, and Youtube, where clients can keep up with updates and announcements, or even forward inquiries.
⚠️Attention
As of February 2, 2022, GBE Brokers Ltd, along with various other financial institutions, has been flagged by the Indonesian Commodities and Derivatives Trading Regulatory Authority (BAPPEBTI). The BAPPEBTI, operating under the supervision of the Indonesian Ministry of Finance, has taken actions to block 1,222 websites, by orders of the Ministry of Trade, for allegations of illegal commodity futures trading and gambling under the guise of trading.
GBE Brokers Ltd. is amongst the list of institutions whose operations have been regarded as suspicious and potentially dangerous. This means that traders and potential investors should exercise extreme caution when dealing with this broker. Ensure you conduct further rigorous research and potentially seek advice from a financial advisor to ensure the validity and safety of their operations.
It is highly recommended that traders and investors examine the track record of their chosen broker thoroughly and ensure they are dealing with a regulated entity before committing any capital to the platform.
Conclusion
In conclusion, GBE Brokers Ltd, a Cyprus-based CFD broker, offers clients robust trading experience through the use of MetaTrader 4 and MetaTrader 5 platforms. Regulated under the CYSEC, it provides a high level of security and transparency. With over 500 market instruments, including Forex, Indices, and Commodities among others, the broker offers wide diversification options. Despite these advantages, potential users should note that GBE brokers has been flagged by the Indonesian authority BAPPEBTI for suspicious and potentially dangerous operations.
Frequently Asked Questions (FAQs)
Q: How is GBE brokers regulated？
A: GBE Brokers is regulated by the Cyprus Securities and Exchange Commission (CYSEC) under CIF license number 240/14.
Q: What are GBE's transaction fees？
A: For withdrawals other than Sepa Transfer, GBE brokers charges 0.15% of the withdrawal amount (minimum 15 EUR/20 USD/20 CHF).
Q: What trading platforms does GBE brokers offer？
A: GBE Brokers provides access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, available for Desktop, Web and Mobile.
Q: Why was GBE brokers flagged by the Indonesian authority BAPPEBTI？
A: Reportedly, GBE Brokers, along with other institutions, were flagged for alleged illegal commodity futures trading and gambling under the guise of trading. Traders are urged to exercise caution.
Risk Warning
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 provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
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