Note: GFT Group is to operate via the website - https://goldenforextrade.net/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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 contained in this article is for general information purposes only.
General Information & Regulation
GFT Group, a trading name of GFT Group Ltd, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:1000 and floating spreads from 0.1 pips but without any available trading platforms via 2 different live account types.
As for regulation, it has been verified that GFT Group currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.27/10. Please be aware of the risk.
Market Instruments
GFT Group advertises that it is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.
Account Types
Apart from demo accounts, GFT Group claims to offer two types of live trading accounts, Micro and Premium, with minimum initial deposit requirements of $5 and $100.
Leverage
The leverage provided by GFT Group is capped at 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
GFT Group offer spreads as low as 0.1 pips on EUR/USD currency pairs, however, we cannot verify if it is available due to its broken links.
Trading Platform Available
GFT Group has no platforms whatsoever. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
The funding methods at GFT Group are Bitcoin direct deposits, PayPal and Bitcoin via Paxful. The minimum initial deposit requirement is said to be only $5.
Bonuses
GFT Group claims to offer various bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Customer Support
GFT Group‘s customer support can be reached by telephone: +1 (562) 247-3430, email: tradegoldenforex@gmail.com. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
