Forex eBook: This book is aimed at training beginner traders to be familiar with trading terms, read and understand charts as well use other trading aids and tools provided by GTCM.
GTCM also has a glossary of terminologies related to trading on its website. There are about 150 trading terms defined and explained.
“GTCM offers certain tools and services which are at best, suitable for beginners and new traders.”
As demo accounts are only provided upon request, it can be discourageable to many traders, and certainly intermediate-level and experienced traders will not find this amusing. Furthermore, there is no comprehensive education suite on the website.
Although, the training material provided on the platform is not comprehensive they do offer one-to-one training to make up for it. But we are not sure about the depth of the training provided.
Expert traders who use sophisticated trading systems, expert advisors, VPS and other complex trading strategies will not be able to patronize this broker, as their offering is really very basic. It can be deduced that GTCM is best suited for beginners who have only just started to learn the ropes in trading.
Here are some of the “Frequently Asked Questions” about GTCM:
Where is GTCM based?
The GTCM broker is based in Nicosia, Cyprus.
How does GTCM make money?
GTCM makes money from spreads and commissions. The broker is both a dealing desk and STP broker, so offers trades with a combination of spreads and commissions depending on the type of account you are trading with.
How do I deposit in GTCM account?
The payment options accepted are: Bank Transfers, Credit/Debit Cards like Mastercard, Maestro and Visa card. e-wallets like Klarna, Neteller, Skrill and SafeCharge are accepted.
What is the min. deposit for GTCM?
The minimum deposit is $200 for the Basic Account.
What is the maximum leverage in GTCM?
Maximum leverage is 1:200 for Professional clients.
How do I open an account with GTCM?
Fill the form titled “Register” on the right hand side the website.
Does GTCM use MetaTrader?
No, only the WebPROfit web and mobile platforms are provided.
GTCM is a forex and CFD broker operating from Cyprus. It operates an EU-specific brand which is regulated by CySEC, and a global brand (not under ESMA jurisdiction) which is regulated by FSCA. Over 179 trading instruments are provided for trading on the WebPROfit platform. The web-based platform is replete with tools for market analysis. Mobile trading is also supported using the WebPROfit mobile app.
The education and research tools provided are limited. Overall, it must be said that GTCM has to up its game if it is to compete with the hundreds of brokers that are located in Cyprus and other parts of the EU. GTCM has made a good start by offering a diversified asset index. It must do more to become a name to be reckoned with. It must push harder in order to compete with the rest of the market-place.