GT Markets Review – Can You Consider Funds Safe Here?
This Vanuatu-based investment firm is a trading brand of Pure M Global Limited. The firm claims to keep the funds in top-tier banks protected by Etana Custody.
Surprisingly, for the last three years, nobody has been talking about this such a secured brokerage. What might be the reason, you will find out in this GT Markets review.
|Is This Company Safe?||No|
|Have Warnings from:||N/A|
|Trading Platforms:||MT4, MT5, API|
|Trading Assets:||Cryptocurrencies, Forex, Indices, Commodities, Shares|
|Free Demo Account:||Yes|
|How to Withdraw from This Company?||Once you want to withdraw the funds you can contact the company’s customer representatives to assist you. If any issue occurs, book a consultation with our refund experts for detailed advice.|
Legal info: Is GT Markets legit?
The key advantage of licensed brokers is the funds protection. However, not all regulators require companies to provide such features. For instance, offshore authorities only require a certain amount of money to get the license.
On the other hand, with the FCA, BaFin or ASIC, requirements are quite strict. Companies must provide segregated bank accounts for deposits, compensation schemes and negative balance protection. However, some of these features are not a part of the deal with GT Markets simply due to their offshore licensing.
Even though they claim to have segregated accounts in top-tier banks, that’s not necessarily the reality. However, the company is indeed licensed by the Vanuatu Financial Services Commission (VFSC).
Who are GT Markets’ Clients?
Interestingly, most clients are coming from strictly regulated countries. However, this brokerage doesn’t have any of the licenses in those countries. While an offshore license is general, some places require domesting regulations for brokers to operate legally. One such is the US, where most of their traders come from.
The list is as follows:
- United States
We encourage you to let us know about your experience with this firm. Ultimately, we can help other traders get more details and make an educated brokerage choice. But if you have a bad experience, contact us directly as well for in-detail advice.
Leverage, Commissions, Spreads, Fees and Taxes
Standardly, the leverage with offshore companies breaches trusted regulatory rules. The company offers leverage up to 1:400. Yet, if are not experienced trader, your balance can vanish in seconds. Not to mention you can get in debt due to missing negative balance protection.
The company offers highly competitive spreads from 0.3 pips. As for the commissions, these stand between $4.5-$6 per round per lot. If you want to know, what tricks some brokers are using with costs, read our JAFX review.
GT Markets Trading Features
What the company promotes as advantages is deep market liquidity, execution speeds and professional support. Even the PAMM program is available.
However, they have quite poor instruments on offer. There are only a few indices and commodities available. Also, only 5 cryptos are available.
Trading Platforms Available
On the positive side, this investment firm provides highly trusted platforms, such as MetaTrader 4 & 5. Besides, you can use FIX API.
FIX API is a messaging protocol that is widely used in the electronic trading industry. It is by no means exclusive to forex trading. In fact, FIX API is used by stock, metals, futures, and options exchanges.
Available Trading Assets
The company is offering assets from 5 classes. Those are:
- Forex – USD/JPY, AUD/HKD
- Commodities – gold, platinum
- Indices – US500, FRA40
- Shares – Microsoft, Walt Disney
- Cryptos – BTC, ETH, LTC
Practically, there is nothing you can’t find with any other tier 1 licensed brokerage. Just with way better protection.
Surprisingly, there are only two account types, both without any drastical differences. You can choose:
- Standard account – $100-$1.000 (MT4/MT5) – STP spreads from 0.3 pips – $6 commission
- VIP account – $5.000 (MT5) – STP spreads from 0.1 pips – $4.5 commission
Mobile Trading App
We are rushing nowadays 24/7. Many traders are doing that as well and they need to have their account available at all times.
Accessing the trading account via a browser can be frustrating. That’s why iOS and Android apps play a key role for traders. Luckily, GT Markets brokerage has it offered as part of the MT agreement.
Another great feature of this brokerage is a demo account availability. Of course, you have to register first and leave a bunch of details, which some traders wouldn’t find convenient. To find out why, read our Roldex Pro review.
GT Markets Withdrawal
One of the worrying things about this firm is the lack of a precise withdrawal policy. Since the company doesn’t reveal processing time and fees, you can expect anything. Not to mention that none of the funding and withdrawal methods are transparent.
After all, the company claims to provide insurance up to $500K. Is it a trick or not, you decide. In any case, there are too many unclear things. Therefore, you might as well rethink your choice of investing here.
Another worrying fact is that they don’t have a call center available. At least not for support. Instead, they provide customers with e-mail and web forms for contact options. Also, there is a live chat.
However, none of these options are something that represents a fully transparent and legitimate firm. If you compare it to any Tier 1 licensed company, you will quickly realize the difference.
Key Information To Consider About GT Markets
Primarily, the company is not operating with Top-Tier licenses. Even though their software choice is good, the withdrawal transparency is missing. Not to mention that for these three years, nobody has been talking about the brokerage. You could be the first one by leaving a comment below about your experience.
However, if you have any doubts about this broker’s legitimacy, feel free to contact us. Also, keep in mind that our refund team can advise you on any withdrawal-related issues. Of course, if something like that happens with any brokerage. Book your free first consultation today!
What Is GT Markets?
GT Markets is a company incorporated in Vanuatu in 2020. Their services are focused on FX and CFD trading services in countries like the US, Australia and Japan.
Is GT Markets Legit?
Might be. However, the company operates in strictly regulated countries without required authorizations. In any case, there are far more secure brokerages to choose from.
How GT Markets Work?
Since nobody shared its opinion it remains unknown. But if you have experienced any irregularity in their service, contact our refund specialists as soon as possible.