GCI Trading Review

GCI Trading

* Ranked #61 of 316 in DailyForex's top broker list

Info

Name : GCI Trading
Website : gcitrading.com
Established : 2002
Country : Anguilla
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Choice of Trading Accounts
  • Demo Accounts
  • Multi-language Customer Support

Disadvantages

  • Not Many Bonuses or Promotions

GCI Trading Review

GCI Trading Review

GCI Trading, established in 2002, (formerly GCI Financial), is a Forex and CFD broker headquartered in Anguilla, British West Indies. In addition to Forex, GCI offers trading in indices, shares, and commodity CFDs, as well as options on most products. It is the recipient of multiple industry awards over 13 years, including the Best Forex Broker Europe 2014.

Accounts

There are two trading accounts to choose from at GCI Trading.

Account Types
Account Types

The ActTrader Account is ideal for traders wishing to trade currencies and other major financial products with a low minimum transaction size and user friendly interface. Only $500 is needed to open, traders can trade up to 10,000 currency units per lot and can maintain several accounts simultaneously. Currencies, indices, crude oil, and metals can be traded.

GCI Trading is one of the few brokers that offer interest on deposits and monies in the ActTrader account receive 4% interest paid on their account balance.

ActTrader Charts
ActTrader Charts

The MetaTrader Account offers a wider product range and the use of the MetaTrader software platform. While default lot sizes are 100,000 currency units, traders can select as little as 0.10 lots to transact. Unlimited charting and programmable trading signals are among the features offered in GCI's MetaTrader account.

Only $500 is needed to open this account and in addition to the other products available, traders can also trade gold and equity shares. They can choose either ECN or traditional execution and there are no requotes or delays.

Traders with this account also receive 4% on their account balance.

I was pleased to see when doing this review that a demo account can be set up with either of the two accounts. With the demo account, a trader can practice trading Currencies, Gold, Crude Oil, Stock Indices, and more with no risk while earning 4% interest on his balance.

Features

GCI offers online trading in both Gold and Silver - commission free with low margin requirements. GCI offers Binary Option trading from the ActTrader platform. Binary Options trading is also available which allows traders to bet on Forex, Gold, Crude Oil, and Stock Indices, receive a 15% consolation for any losing bets or make 100% per bet.

GCI also offers a zero-commission ECN or Electronic Communication Network. Their fees are built into the spread so no commissions are added. Traders benefit from direct access to deep liquidity and interbank pricing and execution. ECN trading uses inter banks prices and spreads with no commissions and straight through processing with banks liquidity.

There is no dealing desk execution, no re-quotes and scalpers and scalping EAs are welcome. Only $500 is needed to start and there is a bonus of 30% on first deposits.

All instruments in the "Forex-ECN" folder are ECN.

Bonuses/Promotions

The Refer-a-Friend promotion is available for all account holders who refer a friend that opens a live account. A Real Cash Deposit is deposited into the referrer’s account as well as the account of the referral. Up to $500 is available for the referred traders and up to $1000 for the referrer. The cash deposit is made as soon as both accounts have been funded.

This is in addition to any bonus margin or other promotions. At the time of this review the only other bonus was a 30% welcome bonus on ECN accounts.

There is another contest offered on their Facebook page where the most accurate forecaster wins $1000 in cash and the next four most accurate forecasters win up to $800 Bonus Margin.

Education

GCI offers a large array of educational material. In addition to the video tutorials and a free trading demonstration, the broker offers lengthy textual lessons on a host of subjects such as Forex Markets, Risk Management and others.

Daily trading signals are posted online as well as real-time Forex price quotes and there is a full economic calendar with up-to-date events scheduled to take place throughout the world.

Traders can stay informed of current market conditions, support and resistance levels as well as fundamental commentary on major currencies through GCI daily market research and there is a separate FAQ sheet on the different trading platforms offered at GCI.

A financial glossary is available and an ebook on the most beneficial use of their two trading accounts can be downloaded.

Deposits/Withdrawals

Funding to accounts at GCI Trading can be done via bank wires, credit cards and online payment programs such as Neteller and Skrill.

Withdrawals are made using the same methods as well as with eCash.

Customer Support

Customer support is offered via email, telephone or by filling out an online form. Chat is also available Sunday 5:00 PM EST, through Friday 4:00 PM EST. Representatives speak several languages including Chinese and Russian.

Conclusion

GCI Trading offers everything a Forex and CFD trader needs. The website is user-friendly and easy to navigate. I would have liked to see a few more interesting bonuses or promotions but this doesn’t take away from the other features offered by this broker.

Advantages

  • Choice of Trading Accounts
  • Demo Accounts
  • Multi-language Customer Support

Disadvantages

  • Not Many Bonuses or Promotions
Review info :
Broker reviewed : GCI Trading Rating : 8 out of 10
Reviewed By : Review Date :