GTTC Trade is a forex and CFD broker that offers online trading services to clients worldwide. The broker was founded in 2018 and is headquartered in St. Vincent and the Grenadines. GTTC Trade provides its clients with access to a range of financial instruments, including forex currency pairs, cryptocurrencies, commodities, and indices.
The broker states on its website that it takes measures to ensure the security of its clients’ funds, including the use of secure server connections and advanced encryption technology. Let us examine if it is true.
GTTC Trading Instruments and Platforms
GTTC Trade provides a wide range of financial instruments for trading, including:
- Forex: GTTC Trade offers access to over 50 currency pairs, including major, minor, and exotic pairs.
- Commodities: Traders can trade in popular commodities such as gold, silver, crude oil, natural gas, and more.
- Indices: GTTC Trade offers CFDs on over 20 indices, including major indices such as S&P 500, NASDAQ, and FTSE 100.
- Cryptocurrencies: Traders can trade in popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
- Stocks: GTTC Trade provides access to a wide range of stocks from around the world, including popular companies such as Apple, Google, Amazon, and Facebook.
GTTC Trade offers its clients the popular MetaTrader 4 (MT4) platform, which is available in both desktop and mobile versions. The MT4 platform is known for its advanced charting features, wide range of technical indicators, and the ability to automate trading strategies using Expert Advisors (EAs).
Account Types
GTTC Trade offers a range of five different account types to suit the needs of traders with different experience levels and trading preferences. The minimum deposit required to open an account with GTTC Trade is $1,000, which may be higher than what some traders are comfortable with.
The Bronze account is the entry-level account that requires a minimum deposit of $1,000, and offers a limited range of trading instruments with floating spreads starting from 0.01. The Silver account requires a minimum deposit of $5,000 and provides traders with access to a wider range of instruments, with lower commission fees of $20 per lot.
The Gold account requires a minimum deposit of $10,000 and provides traders with further benefits such as reduced commission fees of $15 per lot. The Platinum account has a minimum deposit requirement of $25,000 and offers fixed spreads and a commission fee of $10 per lot. Scalping is also allowed for Platinum account holders.
The most exclusive account type is the Exclusive account, which requires a minimum deposit of $100,000. This account provides traders with access to fixed spreads and no trading commissions.
In summary, GTTC Trade offers a range of account types to suit the needs of traders with different preferences, although the minimum deposit requirements may be higher than what some traders are comfortable with.
Trading Conditions
GTTC Trade offers its clients a range of trading conditions that are designed to provide a flexible and customizable trading experience. Some of the key trading conditions offered by GTTC Trade include:
Leverage: GTTC Trade offers leverage of up to 1:500, which allows traders to open positions with a larger exposure than their account balance. However, it’s important to note that higher leverage also increases the risk of potential losses.
Spreads: GTTC Trade offers competitive spreads on all of its trading instruments, which can help to reduce trading costs. Spreads start from as low as 0.1 pips for major currency pairs.
But is GTTC Trade really a reliable and profitable broker or is it another scam?
Regulation and Security
Unfortunately, GTTC Trade does not appear to be regulated by any reputable financial regulatory authorities. The broker claims to be registered in St. Vincent and the Grenadines, a well-known offshore jurisdiction with low regulatory standards, but it does not hold a license from the local financial regulator.
Additionally, the broker is not registered with the UK’s Financial Conduct Authority (FCA), which is the main regulatory body overseeing financial services firms in the UK. This means that GTTC Trade is not authorized to provide investment services in the UK and is not subject to the strict regulatory standards imposed by the FCA.
The lack of regulation raises serious concerns about the safety and security of clients’ funds with GTTC Trade. There is no guarantee that the broker operates with transparency and fairness, or that it has adequate measures in place to protect clients’ funds and personal information.
It is important to note that unregulated brokers often attract clients by offering attractive trading conditions, such as high leverage and low minimum deposits, but these benefits come at a high risk. Clients may be vulnerable to fraudulent practices, such as price manipulation, and may have limited or no recourse in the event of a dispute or financial loss.
In terms of security, GTTC Trade claims to use advanced encryption technologies to protect clients’ data and transactions. However, without regulatory oversight, there is no way to verify the effectiveness of these measures or ensure that the broker is following industry best practices for cybersecurity.
Overall, the lack of regulation and transparency at GTTC Trade raises serious concerns about the safety and security of clients’ funds and personal information. Potential clients should exercise caution and carefully consider the risks before trading with this broker.
| Advantages of Trading with GTTC Trade | Drawbacks of Trading with GTTC Trade |
|---|---|
| ✅ The broker offers a range of trading instruments. | ⚠️ The broker is not regulated by any reputable financial authority, which may raise concerns about its credibility and trustworthines |
| ✅ GTTC Trade provides clients with the popular MetaTrader 4 (MT4) platform for desktop and mobile devices. | ⚠️ The entry threshold for opening an account with GTTC Trade is relatively high compared to other brokers, which may deter some traders. |
| ✅ GTTC Trade offers a range of account types to suit different trading needs and preferences. | ⚠️ The commission rates for trading with GTTC Trade are relatively high, especially for the Bronze account type, which may reduce profitability for some traders. |
| ✅ The broker provides clients with educational resources, including video tutorials, e-books, and webinars. | ⚠️ There have been some negative reviews and reports online about GTTC Trade, with some traders claiming that the broker engages in unethical practices, such as delaying withdrawals and offering misleading investment opportunities. |
Conclusion on GTTC Trade
GTTC Trade appears to be an unregulated and potentially risky broker. While it offers a variety of trading instruments and account types with competitive trading conditions, the lack of regulation and negative reviews raises concerns about the safety and security of trading with this broker.
Traders should exercise caution and thoroughly research any broker before investing their money. It’s important to choose a regulated broker that offers transparent trading conditions, secure platforms, and reliable customer support.
I do not have a single good experience with them.
I have not received any payment and numerous teasing, I have been waiting for my credit for 3 months, they are to be reported .. be wary of brokers like this, they could make your money disappear overnight without explanation.
If the way they treat their affiliates is the same as their customers then god help them. The spreads are simply awful anyway. Terrible customer service. Withdrawals get declined and delayed as a stalling tactic hoping you’ll be tempted into trading some more. Terrible all round.