GCITRADING – A Quick Review

This broker makes it possible to trade over the internet with a program that requires no installation. The broker also offers a program that you can download and install on your computer. It is possible to trade in currency pairs, commodities, shares, indexes and future all on the same platform.

GCITRADING offers average commission and spreads. However, this does not mean that the broker is expensive. Trading with this particular broker can be difficult because he demands that traders have a larger trading portfolio. The broker offers a time restricted demo option and it is also possible to open a mini account. It should be noted that trading values on your account would fit the kind of account that is opened.

However, you will not be able to have an account opened with a small deposit. People who are willing to put forth the effort to work with this broker will find that the process is rather easy and there are a number of deposit methods available to them.

“Demo Trading” – It is possible to trade with virtual member. However, you will only be able to do this for a thirty day period. This is not always enough time. You will probably need more time if you want to experiment trading in other channels and not just Forex. Score: 5

Initial Investment – For two thousand dollars you can start a mini account. This account is referred to as a mini account before the “LOT” is low. You will have to deposit about the same sum of money if you want to trade with a program that has to be installed onto your computer. If you want to open a standard account then you will have to deposit a minimum of five thousand dollars. Score: 6

Withdrawals and deposits from your account – You can easily open an account over the internet in a short period of time. The process of opening an account is relatively easy. You can deposit money using a number of online options. You can withdraw funds using bank transfer. Score: 9.8

Spread – You will be provided with a spread ranging between 3-5 PIPS on currency pairs whenever you deposit the minimum amount. When a standard account is used, you will get a spread that starts at two PIPS. This is often cheaper from the other types of account referred to earlier. Check with the broker to make sure that the spread remains the same under all kinds of market conditions. Score: 8.1

Stop Point – There is no a definite stop point guarantee. It is a good idea to clarify with the broker to see whether or not he offers a stop point guarantee and if it available under market conditions of all kinds.

Leverage – The broker offers you a 1:200 leverage for all types of account. Score: 8

Interest – Interest is always calculated with respect to open transactions (rollover).

Regulations – The broker claims that he is under the IFSC regulation. Score 7.5

Trading Tools:

Professional and technical support – 24 hours a day.

Literature, on-line tools and professional articles – Financial news.

Trading courses – An On-line course is available.

Market surveys and reviews– None offered.

Trading alerts – You will be provided with free of cost trading alerts from a different company that the broker works with when you open an account.

Traders help guide – None.

Range of foreign currency pairs offered – This will range depending on the type of program that you decide to use and the kind of account that you open. The currency pairs offered range from the basics to a wider range of depending on the options mentioned above.

Languages – Support is available for eight different languages.

Trading room online– None.

Personal coaching – Not available.

Bonuses, free gifts – It is possible to trade with your cell phone.

Downloading trading platform – If you choose to utilize the online program available on the broker’s site then you will not have to install anything. The broker also offers the MetaTrader4 as an alternative trading problem. If you decide to use it then you will have to get it installed it onto your computer.

Trading programme “friendliness” – The broker offers an online trading program that is very basic but it isn’t always simple to work with for every trading strategy. There are a few trading tools that are missing including analytical tools. The MetaTrader4 is a program that anyone can use comfortably.

Score: 8

Advantages – The main advantage offered by the broker is his ability to give traders the opportunity to use the MetaTrader4 trading program. The broker also offers a wide range of investment opportunities besides foreign currencies such as commodities and indexes. It is possible to trade in all of the options using the same trading platform.

Disadvantages – Although the broker provides a demo function, the demo function is limited to a shower period of time. You are not given enough time. Compared to what the requirements are by many competitors, this broker requires a large initial investment. The spreads offered with standard accounts are really not as enticing as what other brokers offer. Experienced and professional brokers who have a limit amount of money will find the restrictions on the leverage too restricting. The broker doesn’t offer the trading tools that a veteran trader will need.

Brokers score: 7.5

Note: the businesses, commercial companies and brokers may change their offers, conditions and terms from time to time. It is also possible for the broker to change the bonuses that they provide to their traders. Therefore, you should clarify with the broker before basing your decision on this article as things can change.