Ranking of brokers are subject to change. Elements that impact our ranking include general Broker Information, such as regulation, year estableshed, avaliable languages, trading platform features, ease of use and customer service. Additional elements that effect the ranking too are the number of consumer visits, percentage of sign ups and purchased services, the user device, operating system, location, the day of the week and time of day.
If you’re familiar at all with the world of Forex trading, you may have heard of Gallant Capital Markets, an FSC regulated broker serving Forex traders since 2007 under the brand name GCMFX. Yet Gallant Capital Markets (also known as Gallant) realized that they weren’t meeting the needs of all types of traders, which pushed the brokerage to expand its offerings and to provide one of the only regulated binary options platforms in the world. Read this complete GCM Binary review to see if this is the right binary options solution for you.
Founded in: 2009
Headquarters: British Virgin Islands
Minimum Deposit: $250
Minimum Trade Amount: $25
Maximum Per Option: The maximum number of options that can be purchased at a particular time is 30 Options. The exposure limit is typically $7,500 USD.
Languages available: English
One of the most noteworthy aspects about GCM Binary is the company’s unique trading platform, with the simplicity of a binary options platform. GCM Binary's platform is easy to use but seemingly designed for the more sophisticated trader. It took us only a few moments to familiarize ourselves with the unique scrolling interface on the top of the platform that allowed us to look at the available options in a horizontal way rather than the typical vertical list.
GCM Binary Platform
We noticed relatively quickly during our GCM Binary review that the company does not offer all of the trading options presented by other binary options brokers, such as Range Trading or 60 Second Options. Nevertheless, we were not disheartened, because the High/Low and One Touch options offered within the GCM Binary platform should be more than sufficient for most binary options traders.
Traders do have the option to display all available options or to choose the type of option they prefer with distinct tabs for stocks, commodities, currencies and indices. The platform was a refreshing change from so many of the uniform binary options platforms out there, and will be appreciated by both new traders and those who have traded binary options in the past but are looking for a more refined service.
One of the features we noticed instantly upon beginning our GCM Binary review is the existence of a demo account, where traders can practice placing trades and employing different trading strategies. It is clear that Gallant Capital Markets understands the need for a demo, not just in Forex trading, but also for binary options trading, and GCM Binary is one of the few emerging binary options brokers that offer this critical service.
GCM Binary also offers the standard technical analysis that most binary options providers offer, but it is not available for demo accounts. We found this specifically confusing many traders prefer to practice with technical analysis before trading with real funds.
Tradable assets available with GCMBinary include 6 major currency pairs, 8 popular stocks, 4 indices, as well as gold and silver. Although this isn’t the widest range of assets we’ve seen, it was definitely more than adequate.
Like the Forex branch of its company, GCM Binary has stellar chat support for potential inquiries and email for live account holders. We tested the chat support, and found there to be no wait time and the representative to be entirely responsive.
Chat with GCM Binary customer support
It only took us a few minutes to become familiar and comfortable with the GCM Binary platform, and we actually appreciated the different experience that the platform provided. We also appreciated the company’s transparency regarding the company and its regulations, something which is rare in the binary options industry.
We were a bit disconcerted by the fact that there is no technical or fundamental analysis provided for traders who have not opened a live account, but Gallant Capital Markets is not the only company that employs this strategy as a means to encourage registration. Moreover, we’ve seen the analysis offered by this company and found it to be of excellent quality.
The field of binary options is relatively new, and it is refreshing to see a binary options broker that is regulated and licensed by a known entity. We felt doubly confident in GCM Binary since we’ve already tested GCMFX and are familiar with the company’s reliability and responsiveness to customer needs.
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Review info: GCM Binary
Review Date: 2015-06-23
Rating : 3.5
Reviewed By : Sara Patterson (Google+)