GCM Forex

To get started, you are offered to immediately open a new account. Its registration does not take much time and requires potential clients to fill out a questionnaire. You will need to enter your contacts, as well as some personal data. At the same time, the broker provides verification, which involves providing the service administration with your documents. Only after this will consultants contact you and tell you about further actions. After logging in GCM Forex personal account you will get full access to the trading terminal, as well as the mobile application. This will help you constantly monitor the market situation and analyze further steps to implement trading orders.

They try to lure users in a variety of ways. In particular, they are guaranteed the provision of a demo account on which inexperienced traders can test the operation of the financial platform using virtual deposits. However, this option also involves certain fees and commissions, which makes it not so attractive to clients. Among the main accounts, the following options stand out:

• Standard Account – does not provide a brokerage commission, hedging and scalping are available, high spreads up to 15 points;
• ECN Account – designed for professional traders, the service of preliminary brokerage processing of orders is included.

It is important to note that both accounts have the same minimum deposit, which starts from 50,000 Turkish lira. Swaps are also provided, which are charged if a position is rolled over to the next day.

Representatives of the financial company also claim that users can count on a high-quality educational platform that contains a lot of materials regarding trading. The scammers emphasize the maximum assistance from specialists, which will be provided to beginners immediately after registering on the official page of the service. However, at the same time broker GCM Forex does not provide an affiliate program that could guarantee traders a guarantee of additional passive income. Instead, clients are promised high-quality technical analysis of the account, which inherently will not bring any benefit to traders.

Security of working with a broker

There is a separate tab on the official page of the service, which provides information regarding security. However, they all raise very fair suspicions. Among other things, it is worth noting that GCM Forex not officially registered, as the registration data turned out to be fake. There are also questions regarding the license. The website says that the broker is controlled by one of the most authoritative regulators in the UK, the FCA. However, in reality it turned out that the name of this office does not appear in any register of financial commissions. It is also important to note that contacts are just as fake as other data.

As a result, users will not be able to contact service representatives or consultants to solve a specific problem related to the operation of the terminal. Our experts also highlighted the lack of a high-quality client agreement. The scammers decided not to bother with this and provide only one provision containing data regarding the terms of use of the platform. However, all the points in this document are standard pitfalls that are designed to deprive traders of the opportunity to independently manage their money. This is aimed at depriving customers of their deposits and putting them in their own pockets in the shortest possible time.