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GPP Markets Review - is it scam or safe?

GPP Markets review - Is gppmarkets.co.nz scam or good forex broker?

RATING: 3 / 0 REVIEWS GPP Markets
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GPP Markets is a forex and CFD broker registered and regulated in New Zealand. They offer a fine selection of currency pairs with a leverage of up to 1:400 and the MetaTrader4 platform. For more details about their offer you may check the following review.

 

Trading account  Min. deposit Max. leverage Spread
Mini Account $500 1:400 1,5 pips

Standard Account

$1 1:400 1,1 pips
Pro Account $20 000 1:400 0,6 pips

 

GPP Markets Advantages:

 

Regulated in New Zealand

 

A definite advantage about GPP Markets is their license by the Financial Markets Authority (FMA) – the official regulator in New Zealand. GPP Markets is registered as a  Financial Service Provider and  a Derivative Issuer with FMA and is also a member of an independent dispute resolution scheme with the Financial Services Complaints (FSCL) agency. 

 

Here we should note that the company behind  GPP Markets, ROCKFORT MARKETS LIMITED, previously was registered as Gpp Markets Limited. Here you may take a look at their license.

 

 

The regulatory requirements in New Zealand are comparable with the ones in Europe adopted by such respectable institutions like the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). For example the minimum operational capital requirement with FMA is 1 million dollars, while in Europe a broker should maintain at least 730 000 EUR – more or less the same amount.

 

A notable difference however is the fact that brokers regulate in New Zealand are not required to impose any restrictions on the use of higher leverage, while in Europe the maximum leverage for retail clients is capped at 1:30.

 

Over 50 forex pairs

 

The selection of currency pairs with GPP Markets is comprehensive – 55 pairs, lots of which minor or exotic like USDZAR, USDTRY, USDSGD, USDSEK, USDPLN, USDRUB, USDNOK, USDMXN, USDILS, USDHUF, USDHKD, USDDKK, USDCZK and USDCNH. In addition  GPP Markets offers CFDs on gold, silver, oil, 11 indices and some crypto coins like Bitcoin, Ethereum, Bitcoin Cash and Ripple. If you like the idea of trading crypto however, here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage as high as  1:400

 

Since the regulatory authorities in Europe, the U.S., Japan and Canada capped the maximum leverage with forex and CFD transactions, New Zealand and Australia remain the last major regulatory hubs where higher leverage is offered freely to retail traders. Besides, here you may also check our list of brokers regulated in Australia:

 

>>Brokers regulated in Australia<<

 

Tight spreads

 

As tested with a demo account the benchmark EURUSD spread floated about 1,1 pips and that is considered attractive, especially since the trade is commission free. 

 

Depending on the account type however spreads might vary – with their Mini Account for example GPP Markets says spreads to start from 1,5 pips. In any case, here you may also check our list of brokers offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

You can start trading with just 1 USD

 

With GPP Markets you can open a Standard Account with just 1 USD and that is in line with the best practices on the market. Popular brokers like FBS and IG also does not have a minimum deposit requirement.

 

MetaTrader4 supported

 

No doubt MT4 is the most popular trading platform on the market for the past 15 years or so. It is light, reliable, with an intuitive interface and many advanced features like the customizable trading robots with the help of which one can easily run algorithmic taring sessions.

 

 

The platform also has more than 50 also customizable market indicators and a set of advanced charting tools, so here you may check our list of brokers, supporting MT4 as well:

 

>>MT4 Brokers<<

 

GPP Markets Disadvantages:

 

Popular payment methods like Skrill and Neteller are not available

 

GPP Markets accepts payments with credit and debit cards like VISA and MasterCard, bank wire and several e-wallets -  AliPay, Wechat Pay and PolyPay - the last of which available only in New Zealand. 

 

For its customers in China GPP Markets offers Union Pay as well, but we really miss Neteller and Skrill– the two most widely used money transfer services, available with most brokers operating on the European market. And here you may also check our list of brokers accepting Bitcoins as payment:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

GPP Markets is regulated by the Financial Markets Authority in New Zealand and that makes trading with them safe. In addition their trading conditions seem attractive – decent spreads and leverage as high as 1:400 - all of that offered with a well known trading platform like the MetaTrader4.

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Traders` reviews for GPP Markets

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