Global GT Review

Review

Global GT is carving out a market position as a hybrid Forex and cryptocurrency broker. It provides traders with access to the MT5 trading platform on a live account for a minimum deposit of only $5. I reviewed Global GT to determine if it delivers on its statement of paving the way for a new generation of traders, innovative instruments, and trading models.

Pros

Cons

Low minimum deposit and high leverage with negative balance protection

No educational and research content available

Good cryptocurrency selection, including synthetic cryptocurrency pairs

MT4 trading platform not supported

Tier1 liquidity aggregation and low latency trade execution

No MT5 add-ons provided

Deposit bonuses and financial transactions in cryptocurrencies

 

 

Global GT Overview - The First Hybrid Forex and Cryptocurrency Broker

Headquarters

South Africa, Seychelles

Regulation

FSCA, FSA

Established

2020

Execution Type

Market Maker/ECN Hybrid

Minimum Deposit

$5

Maximum Retail Leverage

1:1000

Trading Platform(s)

MT5

 

I like that Global GT embraces cryptocurrencies as well as the more traditional Forex and attempts to create a new hybrid kind of broker. There are exciting trading opportunities in cryptocurrencies, and it is a shame that many Forex traders are finding these opportunities difficult to access. The $5 minimum deposit ensures Global GT remains accessible to all traders, another fact I appreciate. Traders also get an edge with a very high maximum leverage of 1:1000 and two deposit bonuses, which can boost beginner traders if they understand the terms and conditions and use them properly.

Global GT Main Features

Retail Loss Rate

Undisclosed

Regulation

Yes

Minimum Raw Spreads

0.3 pips

Minimum Standard Spreads

1.6 pips

Minimum Commission for Forex

$10.00 per round lot

Commission for CFDs/DMA

Not applicable

Commission Rebates

Not applicable

Minimum Deposit

$5

Demo Account

Yes

Managed Account

No

Islamic Account

Yes

Inactivity Fee

Yes

Deposit Fee

No

Withdrawal Fee

Third-Party

Funding Methods

5

Back to Top

Regulation and Security

Trading with a well-regulated broker will strongly limit the potential for fraud and malpractice. I always recommend traders ensure they choose a regulated and verify the regulatory details by checking the quoted regulatory license within the regulator’s database. Global GT offers clients the ability to trade under one of two regulated subsidiaries that maintain competitive trading environments:

Country of the Regulator

Name of the Regulator

Regulatory License Number

South Africa

Financial Sector Conduct Authority

FSP48896

 

Seychelles

 

Financial Services Authority

SD019

 

The FSCA and the FSA have emerged as two of the best Forex regulators, with more Forex brokers seeking licenses in these jurisdictions. Global GT provides a link to the regulators’ main websites, but it would be nice to see direct links to the individual licenses.

Client deposits remain segregated from corporate funds held at Tier1 banks. Unfortunately, Global GT does not list which ones, which would have been a nice detail to see. All traders get negative balance protection, a definitive security measure given the maximum leverage of 1:1000. The capital adequacy ratio of 40%, three times the regulatory recommended level, and the additional security layer through the €1,000,000 indemnity insurance policy offered, make Global GT a financially stable and secure Forex broker.

I applaud Global GT for taking additional security measures beyond regulatory requirements. Global GT has a clean track record, but of course as this broker is relatively new – only having been founded in 2020 - it does not have a long track record yet. Given the level of security overall though, I am confident about the trustworthiness of Global GT.

Global GT remains one of the most secure brokers with licenses from two of the most trusted regulators.

Global GT Regulation and Security

Back to Top

Fees

Minimum Standard Spread

Commission per Round Lot

Cost per 1.0 Standard Lot

1.6 pips

$0.00

$16.00

0.3 pips

$10.00

$13.00

Here is a screenshot of the Global GT MT4 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.

Global GT MT4 Trading Platform

 

The Forex trading costs at Global GT are not especially cheap for the non-ECN account types, but for smaller depositors this is nothing surprising, and this broker does have a minimum deposit of only $5. The minimum mark-up for the benchmark EUR/USD currency pair on one account type is 1.6 pips. However, depositors with over $250 can choose the ECN account which has considerably better trading fee conditions. I focused this review on the ECN account, where Global GT presents the best conditions, and which is likely to be the most popular product offered by this broker. The $10 commission per 1.0 standard lot, and the swap rates on leveraged overnight positions, are not cheap deals by industry standards. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check these rates before evaluating the total trading costs.

MT5 traders can easily access swap rates from their platform by following these steps:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Swap Long and Swap Short.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Global GT trading account.

Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for one night will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.3 pips

 

$10.00

-$5.65

X

$18.650

0.3 pips

 

$10.00

X

-$1.25

$14.250

Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for seven nights will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.3 pips

 

$10.00

-$39.550

X

$52.550

0.3 pips

 

$10.00

X

-$8.75

$21.75

Global GT also levies a non-trading fee in the form of a small inactivity fee. This is quite normal in the industry. It is levied at $10 every 30 days after 90 consecutive days of account inactivity. 

 

Back to Top

What Can I Trade

Traders are offered a selection of currency pairs, cryptocurrency pairs, and synthetic cryptocurrency pairs. Commodities, Index CFDs, and equity CFDs are also available. The cryptocurrency selection remains above average compared to other brokers, and I like the synthetics as they offer additional trading opportunities with many brokers covering major cryptocurrencies do not offer. The rest of the asset selection, especially commodities, remains below average in terms of diversity. However, most traders will find the range of assets available more than enough for their trading needs.

Leverage

Global GT provides dynamic leverage across all account types with a maximum of 1:1000. Together with negative balance protection, it represents an excellent offer. The six-tier system increases the margin, protecting traders in leveraged accounts. I find this approach the proper way to ensure competitiveness and security from misuse.

The dynamic leverage at Global GT is an excellent example of competitiveness and security.

Global GT Dynamic Leverage

 

Trading Hours

Forex and commodity trading is available 24/5 (from Monday morning in New Zealand until Friday evening on the eastern seaboard of the U.S.), cryptocurrency trading 24/7. Equity and index CFDs’ opening hours depend upon the market covered and have set opening and closing times between Monday and Friday. Generally, they will be offline between the New York close and the Tokyo open.

 

Back to Top

Account Types

I prefer the ECN account the most of all the account types on offer at Global GT as it provides the lowest trading costs, and the minimum deposit is a relatively low $250. The Standard account is ideal for testing new strategies and EAs due to its $5 deposit requirement. All four account types offer maximum dynamic leverage of 1:1000.

Global GT offers four account types with nearly identical trading conditions.

Global GT Account Types

 

Demo Account

A $100,000 demo account is available and should be made use of for anyone wanting to test out the feel of this broker. Like all demo accounts, fails to precisely simulate real trading conditions for retail traders, which should always be kept in mind.

Back to Top

Trading Platforms

Global GT offers clients the out-of-the-box MT5 trading platform. It features a better user interface and improved trading functions, though it lacks backward compatibility with MT4, which is a shame. MT5 supports automated trading solutions, and Global GT has no restrictions on trading strategies. New traders without existing trading solutions, EAs, and custom indicators will have no problem with this.

Overview of Trading Platforms

MT4

No

MT5

Yes

cTrader

No

Proprietary Platform

No

Automated Trading

Yes

Social Trading / Copy Trading

Yes

MT4/MT5 Add-Ons

No

Guaranteed Stop Loss

No

Negative Balance Protection

Yes

Unique Feature One

MT5 integrated copy-trading platform

Unique Feature Two

Advanced technical analysis tools

 

Back to Top

Unique Features

The unique feature that stands out is the availability of account base currencies in Bitcoin, Ether, and Tether. It makes Global GT an attractive choice for traders who desire cryptocurrency accounts. I also want to point out the insurance policy and the dynamic leverage, which add to a secure and competitive trading environment.

Back to Top

Research and Education

Global GT is in the process of developing research and education for its clients. It offers a client-based sentiment indicator and an economic calendar, from where it can build on a more extensive research offering. The South African FSCA proposes educating new traders as a priority, and Global GT could fulfill this role by offering a high-quality and in-depth trading academy. Since Global GT is a relatively new broker, and there is plenty of free research and education online, I do not view the absence as a deal-breaker, but I look forward to what Global GT will hopefully add here in days to come.

Back to Top

Customer Support

Global GT offers 24/7 multilingual customer support via e-mail, webform, or live chat. Live chat is available in Arabic, English, and Spanish. Regrettably, a phone number is not listed, making the live chat the best method of contact. Traders can access it from each page, but I found the automatic reminder somewhat intrusive. The GT Help Center answers multiple frequent questions. Based on 404 reviews on Trustpilot, Global GT has a 5.0 rating.

Global GT offers 24/7 customer support but does not list a phone number.

Global GT Contact Form

Back to Top

Bonuses and Promotions

Global GT offers a 60% Welcome Bonus limited to $600 and a 30% Loyalty Bonus limited to $6,000. Terms and conditions apply, and traders must understand that the bonuses are non-withdrawable bonus credit used for trading purposes only. It should be noted that if traders request a withdrawal, Global GT will cancel the bonus.

The bonuses at Global GT can assist long-term traders in building their portfolio size.

The bonus program at Global GT offers traders a notable boost.

Global GT Bonuses

Back to Top

Opening an Account

I found it extremely easy to open an account with Global GT, which was refreshing. It took me less than 30 seconds to complete the online account opening form, and Global GT does not ask unnecessary questions. Upon completion, I received a confirmation e-mail and had access to my back office in literally less than one minute after I started the application. Before depositing into a live account, new traders must verify it by sending a copy of their ID and one proof of residency document. I also appreciate the ease of opening accounts in the back office, demo, or live. It is a swift three-step system. Overall Global GT maintains an excellent, unintrusive onboarding and account management process.

Global GT has an outstanding account opening process.

Global GT Account Opening Form

Opening new accounts begins by selecting live or demo.

Global GT Account Selection

Next is the account type selection.

Global GT Account Selection

The last step consists of the account base currency choice.

Global GT Account Base Currency Selection

 

Minimum Deposit

The minimum deposit for all Global GT accounts is just $5, except for the ECN option, where it is $250. I find both minimums competitive demands.

Payment Methods

Global GT currently offers cryptocurrencies and Skrill. It notes that SticPay and Neteller will become available soon, together with credit/debit card deposits.

Back to Top

Deposits and Withdrawals

Traders may use cryptocurrencies and Skrill as deposit and withdrawal methods. Global GT intend to add credit/debit cards, SticPay, and Neteller soon, which will be welcome as the choice of methods right now is not extensive. The minimum amounts and processing times depend on the payment processor. While Global GT does not charge internal fees, third-party payment processor costs apply with all options.

The back office lists two deposit methods.

Global GT Back Office Payment Options

The processing times at Global GT are fast, which I appreciate.

Global GT Deposit Information

The processing times for withdrawals are good, but I recommend traders check third-party costs.

Global GT Withdrawal Information

Back to Top

Bottom Line

I like the Global GT trading experience because it offers a hassle-free system for opening and managing accounts. The dynamic leverage, negative balance protection, and secure trading environment make Global GT an excellent choice for cryptocurrency traders. Traders who wish to have their base account currency in cryptocurrencies will also like Global GT’s offering here. Minimum deposits remain competitive, and the higher-end ECN account competes well within its segment too.

Back to Top

General Information

Company Information

  • Broker's Name : Global GT
  • Headquarters : South Africa
  • Regulation : FSA, FSCA

Account Information

  • Type of Broker : 35,38
  • U.S. Clients Allowed :
  • Minimum Deposit : $5
  • Maximum Leverage : 1:1000
  • Commissions / Spreads : both
  • Account 1 : Cent
  • Account 2 : Mini
  • Account 3 : Standard
  • Account 4 : ECN/STP
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 5
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
  • Support Hours : 24/7
  • E-mail Support :
  • SMS Support :
  • Chat :
Back to Top

FAQs

Is Global GT legit?

Global GT is a new but legit broker, operating under the oversight of two regulators with a clean track record and one of the most secure trading environments.

What is the minimum deposit at Global GT?

The minimum deposit at Global GT is $5.

Is Global GT regulated?

The South African FSCA and the Seychelles FSA, two of the best global Forex regulators, regulated Global GT.

What trading platforms does Global GT offer?

Global GT offers the core MT5 trading platform.

Back to Top

User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



0 User Reviews
Comments
Add Comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Back to Top