Note: GMT4X's official site - https://gmt4x.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
What is GMT4X？
GMT4X, also known as Global Market Trade Forex Ltd, is a broker based in Saint Vincent and the Grenadines (SVG) in 2019. It is currently a non-regulated broker with a dead official website.
Pros & Cons
Pros:
High Maximum Leverage: The maximum leverage provided by GMT4X is up to 1:1000, which is very high in the industry. It is risky but very much increases the potential profit.
MT5 Supported: It supports MetaTrader 5 (MT5), a powerful and popular trading platform that can enhance the trading experience.
Cons:
Limited Customer Support Channels: The customer support channels provided by GMT4X are limited to email only and it does not provide any immediate way to contact. This limited customer service will lead to delayed responses.
No Regulation: GMT4X operates without any specific regulatory oversight. This is a significant risk factor as uncertainty regarding standards adherence and investor security arises.
Dead Website: The company's official website is dead. This makes access to important trading information, news, and customer support challenging for customers or potential investors.
Is GMT4X Legit？
Regulatory Sight: GMT4X is currently without regulatory oversight and any licenses that would enable it to conduct its operational standards in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
GMT4X offers a certain range of market instruments. These include:
Forex: Forex trading involves the exchange of one currency for another, and it is the largest and most liquid market in the world.
CFDs (Contract for Differences): These derivatives allow traders to speculate on the rising or falling prices of fast-moving global financial markets or other instruments.
Account Types
GMT4X provides users with 4 account types. These are Mini, Classic, Standard, and Pro. Mini account users enjoy the highest leverage but the spreads are loose, and for Pro users the spreads are tight but the leverage is less flexible. The minimum deposit required is $500 for Mini accounts. The minimum deposit requirements of all account types are listed in the table below.
Leverage
GMT4X offers different leverage options for its 4 account types. Mini accounts enjoy the highest leverage, and the Pro has a less risky leverage option. The maximum leverage it provides is up to 1:1000, which is considered very high and dangerous. While this high leverage can incredibly increase your profits, it can also lead to huge losses. So if users are not familiar with the markets or they cannot afford to lose all of their capital, they shouldn't enable high leverage. The leverage for all account types are listed in the table below.
Spread
GMT4X provides different spreads for different account types. Mini account users can access only relatively loose spreads starting from 3.5 pips, which are not quite competitive in the industry. A Pro user can enjoy the tightest spreads provided by GMT4X, which starts from as low as 1.0 pip. The spreads provided by GMT4X for all account types are listed in the table below.
Trading Platform
GMT4X provides the MetaTrader 5 (MT5) trading platform with the following features.
Advanced charting tools: Analyze price movements with a variety of technical indicators, chart types, and drawing tools.
Market analysis: Access real-time market news, economic calendars, and analysis tools to make informed trading decisions.
Order execution: Execute trades quickly and efficiently with one-click trading and multiple order types, including market orders, limit orders, and stop orders.
Algorithmic trading: Develop, test, and deploy automated trading strategies using the built-in Expert Advisors (EAs) and MQL5 scripting language.
Multi-asset trading: Trade a diverse range of financial instruments, including forex, stocks, commodities, and cryptocurrencies, all from a single platform.
Mobile trading: Stay connected to the markets and manage your trades on the go with the MT5 mobile app, available for both iOS and Android devices.
Conclusion
As a broker, GMT4X provides very high maximum leverage and supports MT5. However, its customer support is limited. It holds no regulations and has no accessible website.
Frequently Asked Questions (FAQs)
Is GMT4X regulated？
No, it is not regulated.
Does GMT4X support MT4/5？
Yes, it does support MT5.
What is the maximum leverage provided by GMT4X？
The maximum leverage provided is up to 1:1000.
What is the minimum deposit required to open an account？
The minimum deposit required is $500.
What is the tightest spread GMT4X can provide？
The tightest spread GMT4X provides is as low as 1.0 pips.
Is my money safe with GMT4X？
Not at all. GMT4X is not a regulated broker and it does not apply extra security protocols either. What's worse, its official website is dead already.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
