GTCM Video Review
Investor Protection & Regulations
“GTCM is a brand name of Depaho Ltd which is authorized and regulated by CySEC and FSCA. To protect investors, the brand has implemented the following security measures: SSL encryption, segregation of funds and membership in the ICF.”
Global Trading Capital Markets (GTCM) is a brand name of “Depaho Ltd” which a Cypriot investment firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). The license number is 161/11.
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Depaho Ltd is also regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The authorization number is 47709. The broker is also registered in Italy, Spain, Sweden, Finland, Poland, Germany, Norway and the UK.
GTCM is a member of the Investor Compensation Fund (ICF). The ICF should pay GTCM’s clients compensation if for any reason there is a proven instance that traders lost money from broker-related causes or from the broker becoming insolvent.
GTCM maintains investors’ deposits in separate bank accounts from its own funds. This is to keep it safe, in case GTCM runs into financial crisis in the future; investors will still get their money.
GTCM has also implemented standard security procedures in order to protect its clients from hackers. The broker has protected its website and platform with a Secured Socket Layer (SSL) issued by Amazon Web Services (AWS). This ensures that all data is encrypted before it is transmitted over the internet.
“GTCM offers a great mix of financial instruments, which cover 43 currencies, 8 options, 2 ETF’s, 6 cryptos, 18 indices, 84 shares and 18 commodities.
Here is a list of the assets available for trading on the GTCM platform.
Number of Instruments
Exchange-traded funds (ETFs)
“Seven accounts types are offered by GTCM: Basic, Discovery, Silver, Gold, Diamond, VIP and VIP+ accounts. The minimum opening balances are $200, $2 000, $5 000, $10 000, $15 000, $30 000 and $50 000 respectively.”
GTCM groups traders into “Professional” and “Retail” clients. A retail client is an individual trader without professional training. To qualify for a Professional Account, prospective clients must apply and show that they have received sufficient training as well as have access to large trading capital: hallmarks of institutional trading setups. Professional clients trade with leverage up to 1:200 and enjoy various promotions (like Spread Cash back and Rollover Discount) along with Negative balance protection, which is also provided to Retail clients.
The following are the types of Retail Accounts:
Basic Account: The account opening balance is $200- $1,999. Free trainings, pop up alerts, one-click trading and a personal account manager are some of the benefits attached to this account. Free webinars are available.
Discovery Account: The amount required to open this account is $2,000-$4,999. A price discount of 10% is offered to Discovery account holders in addition to all the benefits received by Basic Account owners.
Silver Account: Opening balance is $5,000-$9,999. Price discount is 20%. In addition to other benefits, analysis by “Trading Central” is available from this account to higher accounts. Trading Central is an investment and financial research services provider.
Gold Account: A balance of $10,000-$14,999 is required to open this account. In addition to all the benefits of the Silver Account, a prices discount of 30% and a rollover discount of 17% are applicable to this account.
Diamond Account: The account opening balance is $15,000-$29,999. Price discount is 40% and rollover discount of 20% is given to Diamond Account holders.
VIP: Opening balance is $30,000-$49,999. A Price discount of 50% and Rollover discount of 33% are offered to account holders.
VIP +: The account opening deposit is $50,000 or more. The unique benefits of the VIP+ account are 50% Rollover discount and 60% price discount.
To open a new account, click on “Open a new account” found on the homepage of the website. Alternatively, fill the ‘Register’ form found on the right hand side of most WebPages of the website. The form below is displayed.
Fill the form and click ‘Start’. A congratulatory page with the username and password is displayed.
Click on ‘proceed’ and you are automatically logged onto the web based trading platform.
Deposit & Withdrawals Options
“Credit/debit card, Bank Wire Transfer and e-Wallets like Skrill, Klarna and SafeCharge are the acceptable payment options. Requests for withdrawal are processed on the same day. There are withdrawal minimums for each payment method.”
Withdrawal requests are processed on the same day. Complete account verifications are required before deposits and withdrawals are completely processed. For card payments, proof of card ownership is required. It entails scanning the debit/credit card (with some of the secret details blocked off) and sending the scanned copy to the GTCM accounts team. Here are the available payment methods:
Credit/Debit Card: The accepted cards are those issued by VISA, Maestro and MasterCard. Card payments are instantly processed. The minimum deposit is $200 and the minimum withdrawal amount is $50.
Bank Wire Transfer: Depending on the banks involved in the transfer, bank transfer processing can take up to 5 business days.
e-Wallets: The acceptable platforms are Skrill, Neteller, SafeCharge, ecoPayz, Trustly, Easy EFT and eMerchantPay. Deposits using any of these methods are processed instantly.
Web & Desktop Trading Platforms
“The ‘WebPROfit’ is the only trading platform available for GTCM clients.”
The only computer-based trading platform provided for GTCM clients is the ‘WebPROfit’ platform. It is web-based and therefore requires no download and installation processes. It works on all computer devices and operating systems. The WebPROfit platform is available in 19 languages. The platform is packed with tools for fundamental and technical analysis. It has over 160 indicators, 14 chart styles and 11 timeframes. News and the economic calendar are streamed on the platform.
Symbols can be seen in either cube format or list format as per the images below, depending on your preference.
Symbols include a variety of asset classes like FX, Commodity, Stocks, Index, Derivatives and Crypto.
A wide variety of indicators include trend lines, volume indicators and oscillators are available to overlay on the charts.
My portfolio at the bottom of the screen includes open positions, closed positions, exposure, entry orders and log
Mobile Trading Platforms
“The GTCM Mobile Trading platform is the WebPROfit app. It is designed for use on the Android and iOS devices.”
GTCM Mobile Trading app is available for Android and iOS devices. The apps are downloadable from the respective app stores. It gives GTCM clients the opportunity to trade anywhere and at any time from the smartphones and tablet devices.
Here are some of the features of the mobile app:
Real-time market quotes
Market news is streamed on the app.
Account deposit funds and withdrawals.
Complete order placement including pending order management.
Real-time charts, indicators and other tools used for technical analysis.
Traders insight is available from the mobile app, where you can see how other clients of the company are trading and follow the trends.
Other options from the app include the news feature and economic calendar. You can also see your portfolio details from this screen.
“The Trading Insider shows the trading trends of GTCM clients for each asset. FPP protects new traders against loses while the charting feature is great for technical analysis. GTCM Clients are also provided with SMS notifications free of charge. The notifications include: market updates, news and general information on global financial issues.”
Trading Insider: This is a statistical presentation of the trends of GTCM clients for a specific asset. The trader is shown the percentage of clients buying or selling an asset, which provides some information as to whether to go with the majority flow or not.
First Protected Positions (FPP): This is designed to give new traders a security for their funds and to allow them familiarize themselves with the platform. It also helps traders to understand the risk involved in trading forex and CFDs. For a verified and approved account, FPP is applied to provide a loss return on the first 10 trades. If the trader loses these trades, the invested capital is returned. If the trades are winners, the trader keeps the accrued profits.
SMS services: GTCM clients are provided with SMS notifications free of charge. The notifications include: market updates, news and general information on global financial issues.
Charts: GTCM offers a charting feature in the WebPROfit trading platform. Different types of charts are available. Charts are very important for technical analysis.
Commissions & Spreads
“GTCM offers competitive spreads which are on par with some of the spreads provided by the industry’s brokerage bigwigs.
GTCM charges commissions and spread depending on the asset traded. Below are
some of the spreads on the available tradable assets for Retail clients.
Note: Lower spreads are provided for professional clients for certain instruments.
Aurora Cannabis Inc
MTN Group Ltd
All figures are taken directly from the broker’s website and were correct at time of writing.
Bonus & Promotions
“Bonus promotions are available to Clients categorized as Professional, who have verified their account and are approved by the Compliance Department.”
There are no welcome bonuses offered to new clients. Also there are no demo contests or other trader contests. This is due to CySEC’s stringent regulatory measures concerning bonuses, which are also prohibited by the European Securities and Markets Authority (ESMA). However the broker is able to offer promotions to professional clients. These include cashback on Spreads, rollover discounts, rebate discounts and Position insurance.
They provide First Protected Positions to clients. Under this promotion any funds lost from the first ten (10) protected positions will be credited back to the trading account. Any profits generated may be withdrawn by the client, as long as there are no open positions. This promotion is very unique to GTCM.
“The customer support desk is available on phone, email, fax, chat and social media. The support assistants are swift to respond and willing to help.”
The GTCM support desk operates from 7am to 9pm GMT, Monday to Friday. The following support channels are available:
Chat: Instant web chat is available on the website. WhatsApp chatting is available on +35 79 78 77 504. WhatsApp chatting hours is 8:30-19:00GMT Mon-Fri. On Sat: 8:30-12:00GMT
email@example.com, firstname.lastname@example.org Phone Number: Office number +357 22 300 500, Toll free number: 800-727-400, Customer Support: +357 22 008 345, +357 22 008 346, Brokerage: +357 22 300 542
Fax Number: +357 22 766 333
Assistance Request Form: This form is on the ‘Contact Us’ page of the website. Clients are to fill in their request and also the means of communication, either email, chat of phone. The support desk will respond with answers.
Social Media: The following social media channels are available:
It took a few minutes in order to get a response from the customer desk on the WhatsApp chat platform. Emails are replied on the same day.
“GTCM provides market updates and the economic calendar. These are necessary tools for fundamental analysis.”
The following research tools are provided:
Market Updates: This is free daily news presented to clients every market day. It is presented on the website and platform. It keeps the trader updated about stocks, forex and other news that are likely to impact the market.
Economic Calendar: This is available on the website and on the trading platforms. The GTCM economic calendar shows a list of news releases for various currencies listed in the forex market. Events from all over the world are featured.
“GTCM provides training videos, a glossary and forex eBook. The GTCM trading education resource is best suited for beginner traders.”
Registered clients are given access to training materials. The following educational tools are available:
Training Videos: These are accessible from in the WebPROfit platform. The videos are arranged in two categories; Beginner and Advanced. Access to the videos will have to be activated by contacting the account manager. The videos are nice but not particularly comprehensive, certainly as a beginner looking to become intermediate you will need more training to back this up.
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.
Regulated by CySEC
Registered with CySEC’s IFC, which provides trader insurance for clients of GTCM in the event of broker-induced trade losses
If you are a beginner, GTCM provides resources that give you a good introduction into the market such as Trader Insights
First Protected Positions tool – eligible clients will be granted with full protection on their first ten (10) positions as per the FPP Terms
Demo account is provided only on Request
Resources for trader education are very basic