- Name : GTMFX
- Website : gtmfx.com
- Established : 2011
- Regulation : None
- Country : United Kingdom
U.S. Clients Allowed :
NoDue 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.
GTMFX ReviewGTMFX Review
On a routine check of this broker in June 2017, we discovered that the website is no longer active and that GTMFX no longer exists. For a full list of regulated and active Forex brokers , click here.
GTMFX is a Forex broker with offices in the United Kingdom, Hong Kong, France, Germany, Italy, Greece, Australia and Japan. In addition to the more than fifty pairs of currencies, the company provides a variety of financial products such as contracts difference, including gold, silver, copper and other metals. Natural gas is also an option as are several other popular commodities. In addition, trading indices is a very popular choice and GTMFX offers a wide choice of European stock indexes and Asian stock indices. In addition, GTMFX is one of the few foreign brokers that trade in American oil.
There are three different accounts to choose from at GTMFX and they differ mostly by the amount of minimum deposit is required for each. The Mini account requires a deposit of $500; $2000 opens the Standard account and for the Gold account, a whopping $10,000 is necessary. All members with any of the accounts can benefit from a host of different educational features such as daily market analysis, video tutorials, e-books and webinars. In addition, a dedicated account manager is on hand for all of them to provide assistance when needed.
Standard and Gold account holders also are able to make use of the other educational features available at GTMFX such as a variety of live seminars, periodic reports of market trends and a schedule of reduced spreads. In addition, holders of the Gold account receive access to the GTMFX trading floor as well as VIP customer service.
A fourth account, the Micro, is mentioned on the site but there is no further information provided.
I was pleased to see that GTMFX offers a demo account for beginner traders who wish to practice their trades in a live account without risking any of their money. There were few details given about the demo account, however and there was no way of knowing how long one can keep the demo account or how much virtual funds were made available to the trader.
When it comes to trading signals, GTMFX has teamed up with several well-known sources, such as Trading Central, to provide free Forex signals to all their members. A Forex signal is nothing more than a hint to the trader to open a buy or sell position on a trading instrument at a given price and closing it when a certain price is achieved. But trading signals are considered an important tool for Forex traders and the more signals offered the better the broker. GTMFX offers a selection of different trading signals.
Online trading or electric trading, as it is sometimes called, is the key to successful trading at GTMFX and the broker offers a good explanation of how this works and why it is so important to a Forex trader.
GTMFX has upgraded its system and offers its clients free Forex signals as an additional tool to help its traders to enhance their strategy in FX trading. Each trader receives his/her own personal Forex trading tips with the hope that they will provide clients with a better understanding of the Forex markets. Signals are especially important for beginner traders, who do not have any fixed trading strategy. Following the right forex signals can give them a huge advantage.
GTMFX offers a full range of assets to choose from. Indices are a form of CFD and are very popular with traders. It trades through IC Markets which has a large range of Indices from around the world including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500 and US DJIA Index.
With a stock index being a good indicter of market performance, stock indices such as the FTSE 100 and DJIA Index are baskets of blue chip stocks listed on the exchange and are generally a good measure of the current market sentiment. A change in the performance of any constituent stock in an index is reflected in a change in the overall value of that index.
Indices also have the advantage of allowing traders to take a wider view of a basket of stocks rather than taking a view on one individual stock alone.
The economic calendar at GTMFX provides useful information about future such as financial pre-announcements and news reports about government economic indicators that affect the development of the financial market.
Although there was a section entitled ‘Education’ ,when I clicked on it, it took me a section about online trading and not to any additional educational material presented offered by the broker.
GTMFX presents a good explanation about their social trading and the benefits it provides to Forex traders. Social trading is always beneficial for beginners as well as more experienced traders as the entire process helps them to take advantage of as much information as possible from the experts in this field.
GTMFX Social Trading
I found the news section somewhat lax. There were no daily or even weekly news reports or analysis. This is most unusual for a Forex broker where daily, weekly and monthly news reports are a mainstay of the firm’s communication with their account holders.
GTMFX is regulated by the FSA and is registered in St. Vincent and the Grenadines by FSP.
Chat is available 24/7 at GTMFX as is telephone contact at its UK address.
All in all GTMFX is a well-positioned Forex broker with many interesting features and choices that should help make Forex traders successful and profitable.
- Professional Signaling
- Full Choice of Assets
- Limited Educational Material
- Few Details About the Demo Account
Review info: GTMFX
Review Date: 2017-06-27
Rating : 2
Reviewed By : Sara Patterson (Google+)