This is my personal experiences with GFT.

I had several live accounts with them since 2004.
First of all they have banned me from having an account with them with no explanation. I have not sued them with the NFA or neither file a complaint with them�. What a joke..!!

1- The reason you should not trade with them is because they are NFA member..!!!

2- They are trading and holding all your trades against you every time you are in the wrong side of the trade.

3- They are not reporting your trade straight to the CBOT as they should unless you are on the right side of the trade. Instead they are holding your position until you got in the wrong side of the direction of the market and able to cash your losses direct to their Bank (Morgan Chase)..!

4- They are telling you that if you maintain a position in a wrong side or Right side of the trade after 5PM they are closing your position and replace your trade at the market price..!!!! What?????!! Yes, They are closing your trade. Their statement is YOU DON'T OWN THE POSITION YOU ARE HOLDING THE POSITION . What???? (Meaning) if you are on the wrong side of the trade we can go head take your money at front and then (if you lucky) able to make it back and get even the next day (I will explain it further in a moment.)

5- Let assume you are getting in the wrong side of the trade and you need to add positions. they are AVERAGING your position instead to honor your price Buy or Sell at the time of your price/trade. ..WHAT????? (I will explain further in a moment as well)

6- Slippage!! Ohhhh yes.

7- POSITION PENDING. Ooohhh yes!!!!

8- Platform crash..Oooohh yes.!!!

9- Not hedging.Ohhhh Not..!!!!

Now back to paragraph (4)-(5).

I have an account with CCcapitol in UK with $300k ($300,000). They indeed charge me high spread. However, they are honoring all my trades position. If I need to add to my wrong side of the trade they are filled at the PRICErequested and MAINTAIN the position/trade into next trading day or even in to days ahead!!!!!!

I will explain with an example;

I bought (Long) 10 full lots EUR-USD @ 1.3300. Now the market is going south down to 1.3200. I am in a loss of a total 100 pips ($10K). So without panicking I am adding positions with an extra 10 full lots, going (LONG) @ 1.3200.

Then the market is finally reversing and retesting the 1.3300 area. So far so good, I have 100 pips in profit of my last trade made (1.3200 through 1.3300) and 0 losses on the first trade made @ (1.3300). So I have the chance to close with 100 pips in profit the last trade @ (1.3200) and able to get out the first trade made @ (1.3300) with few pips in losses or even few pips in profit (knowing that I have made already +100 pips in the previous trade).

Now with GFT the same scenario (this is how they are going to get you.)!

I bought (Long) 10 full lots EUR-USD @ 1.3300. Now the market is going south down to 1.3200. I am in a loss of a total 100 pips ($10K). So without panicking I am adding positions with an extra 10 full lots going (LONG) @ 1.3200.

Well well well they are averaging your trade at 1.3250.WHAT???? YES they are averaging your adding position 50 pips higher where the market price is actually is which it is @ (1.3200)..!!! So you still under 50 pips in the red until the market is hitting 1.3250, (If it will). So now you are physiological stressed and thinking, ok few pips above 1.3250 I will be out .... Which I did several times !!!!

What a joke..!

Now The same scenario with (both accounts CCcapitol and GFT).
The EUR-USD instead to get back up to 1.3300.. It will go further south. Let's assume the market hits 1.3000..!!!!! Ohhh God!!! Now what..??? Well I am 300 pips in the negative with the first trade made, and 200 pips in the negative with second trade made.

With my current Broker (CCcapitol) I am adding position @ 1.3100 and 1.3000 as well. Ok now I have 4 trades of a total 40 full lots ($40k) in the market

1 trade [10 lots] @ 1.3300 = -300 pips
1 trade [10 lots] @ 1.3200 = -200 pips
1 trade [10 lots] @ 1.3100 = -100 pips
1 trade [10 lots] @ 1.3000 = 0 pips

Now the market reverse the next day going back (let's assume) @ 1.3150.

My last 2 trades (honored by CCcaptol) @ 1.3000 and 1.3100 are in profit (50 Pips and 150 pips) respectively..!!...... +250 pips = (+$25k) in to my account.

Now the same scenario with GFT, I have positioned the last two trades @ 1.3100, and 1.3000 as well.

My last two trades with a total of (4) trades with GFT were averaging @ +/- 1.312!!!! YES they have averaged all my 4 trades @t 1.3120

Now the market reverse the next day going back (let's assume) @ 1.3200.

Guess what, I am physiological drained and exhausted of the bad day of a bad trading, and I decide to close all my positions (which sounds the right thing to do..!) @ 1.3200. Get the point..?! As soon as the market get close to 1.3120 (break even) or little above, after holding the position with 120 pips in negative, I am going to call for the day and getting out with ALL TRADE/POSITIONS with no regrets instead to hold It all way to 1.3200!!! Let's call 30 pips in profit… ($12K)

It's all a psychological game that they are trying to get through your mind.

Now the worst scenario (HERE IS THE CATCH...!)

Now, let's assume that by the end of the day I will hold all my positions for the next day, and hoping that the market will eventually reverse and go back to 1.3300 ( to the original trade)
(6PM is the magic time for GFT) is the PAYDAY TIME...! If the market still (EUR-USD) @ 1.3000.. Good luck..!!! (With GFT account)..!!!! WHY????

Well this is their tricks..!

CCcapitol maintain your P/L (profit and Losses) -400 pips (-$40K). Your account is in (((Floating profit/losses negative -$40,000)))). The total equity of your account (floating) is + $260,000 from the $300,000 originally started. But the trades are NOT CLOSED..!!!!!!!!!!!! They are active at the price that they were bought (1.3300, 1.3200, 1.3100, and 1.3000.)

With GFT account at 6 Pm all your position will be closed and repositioned at the market price! and this will be deducted as a losses from your equity of ($300,000). So this is deal...Your account now is suffering of an effective drawdown liquidity.
GFT took $40,000 out of your account and repositioned all your (average trades @ 1.3000). You laterally lost 40K out of your account that they have (STOLEN) from you..!!!!. To recover the 40k you have to wait until the market gets at least to 1.3100 to get break even!!! Guess what..? if you have a $40,000 in losses in the previous day, and the next day the market get the EUR-USD @ 1,3100, you are so glad to be able to get out half of your positions or even better close all the positions, and be happy that you were able to get the $40K back in one day .(GOOD JOB!!!).

BUT

With CCcapitol I am psychological ahead of the game because @ 1.3100 I have one position trade in profit (100 pips) = +10 k in to my account, (and able to close the trade if I wish), with the account now (floating @ +$270,000 with not effective losses yet), and able to hold my gun until the market will reverse up to 1.3300.
At the point my account would be at +$360,000 in profit! Yes +$60,000 in profit..!!! last trade made @ (1.3000) +300 pips, +200 pips for the trade made @(1.3100), + 100 pips for the trade made @(1.3200), and break even for the trade made @(1.3300) .
WHAT a Ride!!!!!!

You have to work physiologically double of your efforts and endure your nerve instead to make life/trading easer then should be..!! with GFT

By the way last (December 2009) I had the opportunity to open $300K GFT, and CCCapitol UK Demo account, and we have placed the same trades at the same time in to both accounts to verified what I am stating in this review.

The GFT has been liquidated in a matter of 55 days. The CCcapitol is up to $970,458 as up to today..!!!

Furthermore, this is what I have received from them today!!!

Dear Max

It has come to our attention that your may be interested in opening an account with GFT or having a demo account with us. This is to notify you that GFT will not accept your application to open an account and will not allow you to have a demo account. This decision was made for our own business reasons, based on our business objectives, and should not be viewed as an adverse comment on your personal qualifications to maintain an account.

There are many business reasons why GFT may reject an account, and GFT does not discuss with individuals its reasons for closing their accounts or rejecting them all together.

Best regards,

Nina Fite
Compliance Specialist - Risk Management Team”

STAY AWAY FROM GFT THEY ARE RETAILER.NO PROFESSIONALS.THEY ARE RIP-OFF AND THEY ARE DEFINETELY STEALING YOUR MONEY. BLIND..!!!!!!!!!!

Yours Respectfully...
MAX