GCI Financial Review: Crucial Information About the Broker
GCI Financial Review: Crucial Information About the Broker

Since GCI Financial has been on the market for so long, we felt the urge to warn you about it. There are some things you ought to know before investing your hard-earned money.

Without further add-ons, we’ll go to business. Let’s begin this GCI Financial review.

Broker status:Offshore Broker
Regulated by:Unlicensed Trading Scam
Scammers Websites:Gcitrading.com
Blacklisted as a Scam by:OSC, AMF, A-TVP
Owned by:GCI Financial Ltd
Headquarters Country:Saint Lucia
Foundation year:2002
Supported Platforms:ActTrader, MT4
Minimum Deposit:$500
Cryptocurrencies:No
Types of Assets:Forex, indices, commodities, shares
Maximum Leverage:1:400
Free Demo Account:Yes
Accepts US clients:Yes

Is GCI Financial an Unregulated Forex and CFD Broker?

Despite what they may try to convince you, GCI Financial is unregulated. The company claims to be registered in Saint Lucia, trading under GCI Financial Limited. However, upon checking the register of the country’s authority, Financial Services Regulatory Authority, we didn’t find the owner or the brand. 

GCI Financial main

Considering this is an offshore location, we tried our luck with Tier 1 databases such as FCA, ASIC, and BaFin. And once again, our search yielded no results. Simply put, GCI Financial, also known as GCI Trading, runs without a license.

GCI Financial is an unregulated offshore trading brokerage. While being on the market for almost two decades, the firm has earned some regulatory warnings.

This is quite dangerous because you cannot request regulatory assistance or reimbursement if something goes wrong.

Warning Issued by Financial Authorities

Throughout its long history, the brokerage has earned several regulatory bans. Namely, in August 2013, the Canadian regulator of the province of Ontario issued an official warning against GCI Financial and its owner, GCI Financial LLC. According to it, the company is not allowed to offer financial services.

In November of the same year, the French AMF republished its own warning from July 2011 regarding the same firm. Since the company didn’t stop soliciting investors, they reacted once again. Finally, Slovenian A-TVP republished this warning.

Where Does the Broker Operate? – Countries Of Service

According to our research, GCI Financial registered its domain, gcitrading.com, in the GoDaddy WHOIS�database�on the 30th of April, 2002. Since then, they have mainly onboarded investors from the following countries:

  • India,
  • US,
  • Canada,
  • France,
  • South Africa.

Note that Canadian and French authorities have already issued warnings, while the rest is yet to come.

Trading Platforms Comparison

We found two trading platforms on offer – ActTrader and MetaTrader. We’ll compare their features as well as trading costs with GCI Financial.

First of all, ActTrader is a bit less known than worldwide famous MT4. However, it offers a nice range of functionalities, including automated trading and full customization. If you choose this software, you will be able to trade on currencies, indices, and metals, with the spread ranging from 1-2 pips for Forex majors. Additionally, you will gain access to WebTrader. You’ll be charged 4% interest on your account balance.

MT4 offers similar trading conditions and the same interest charge. However, the platform is not available as browser-based, meaning the download and installation are required. You can also access MT4 mobile apps for Android and iOS.

What Trading Instruments Are on Offer?

You can choose from one of the following asset classes:

  • Currency pairs – EUR/USD, GBP/AUD, CAD/ZAR
  • Commodities – gold, silver, crude oil
  • Indices – AU200, DAX30, FTSE100
  • Shares – Amazon, Apple, Google.

Leverage, Spreads, and Fees

The spread for EUR/USD starts with 1 pip on both platforms, which is exceptionally solid. However, the company doesn’t offer crypto trading, which is a considerable drawback. The leverage is relatively high, going up to 1:400 for Forex majors. Usually, Tier 1 regulators have a limit of 1:30 or 1:50 due to increased risks.

GCI Financial Trading Accounts�

There are only two trading accounts, depending on your chosen platform.

GCI Financial Trading Accounts
  1. ActTrader account – $500
  2. MetaTrader account – $500

While the minimum deposit is the same, accounts differ slightly in terms of platform and how you trade. Namely, ActTrader enables browser-based software, while MT4 brings in ECN trading.�

ECN, or Electronic Communication Network trading, means that the broker gives customers access to a pool of liquidity providers who trade against them. At the same time, the broker is charging a commission for middleman work.

Can a Trader Use a Demo Account?

Another good perk of third-party platforms is the accessibility of a Demo account. Instead of being pressured to decide immediately, you can test both platforms through a risk-free Demo and see if you wish to invest.

Withdrawal Options with GCI Financial

GCI Financial or GCI Forex offers the following payment options for withdrawals:

  • Wire transfer,
  • Debit/credit card,
  • PerfectMoney.

You have to get your money back using the same method you used for a deposit up to the amount you deposited. Then, the remaining sum will be transferred through a bank wire or PerfectMoney account.

If you wish to request a withdrawal, you will need to print, sign, scan, and email the form to the broker’s payments department. Additionally, you will need to send a valid ID, or the request will not be approved.

What Should I Do If I Have a Withdrawal Issue?

If you cannot get a withdrawal directly from the broker or your request is unreasonably delayed, you can contact us for help. Our chargeback experts will evaluate your case during a free consultation to ensure that you’re on the right track with evidence collection.

Don’t be ashamed, and don’t hesitate to share everything. We’ve helped thousands of clients like yourself, and we know it all. Book a free consultation now!

What Is GCI Financial?

GCI Financial is an unregulated offshore trading brokerage offering Forex and CFD.

Does GCI Financial Offer a Demo Account?

GCI Financial offers a risk-free Demo through both ActTrader and MT4.

Does GCI Financial Give a Deposit Bonus When Opening an Account?

GCI Financial doesn’t mention deposit bonuses, but they can offer incentives as an offshore broker.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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