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GTC Global Trade Capital Review - is it scam or safe?

GTC Global Trade Capital Review - Is gtcup.com scam or good forex broker?

RATING: 1.5 / 1 REVIEWS ForexBrokerz GTC Global Trade Capital
GTC Global Trade Capital is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


GTC Global Trade Capital is a forex and CFD broker offering four account types on the MetaTrader4 platform. If you are thinking about opening an account with them be sure to read this review first.

 
 
Account type Min. deposit Max. leverage Spreads
Mini Account $10 1:1000 1,5 pips*
Micro Account $500 1:100 1,5 pips*
Standard Account $1000 1:500 1,5 pips*
VIP Account $50 000 1:200 1,5 pips*

* Spreads as tested in the Demo Account

 

GTC Global Trade Capital Advantages:

 

You can open an account with just 10 USD

 

With GTC Global Trade Capital you can open a Mini Account with just 10 USD and that is great. However the minimum deposits with the more advanced accounts are much higher – for a Micro Account you will have to deposit 500 USD, for a Standard Account – 1000 USD, while for a VIP Account the minimum deposit is 50 000 USD. Have in mind that with most brokers you can open a Standard Account with about 100 USD, while with some big players like XM and FXTM you can open an account with as little as 5 USD.

 

Lavish maximum leverage levels

 

The maximum leverage with a Mini Account is very generous – 1:1000, while with a Micro Account it is just 1:100. With a Standard Account however you can enjoy leverage of up to 1:500 and with a VIP Account – 1:200. In practice maximum leverage of up to1:200 can accommodate most trading strategies. Still if you do not mind higher risk, you can check our list of brokers also offering leverage of up to 1:500 and above:

 

>> Brokers offering at least 1:500 in leverage <<

 

Reasonable spreads

 

When tested with a Demo Account the EURUSD spread reached 1,4 pips – 1,5 pips, which is in line with what traders usually expect to see with a standard account. Besides, no commission for the trade was taken and the minim trading size was 0,01 lot or 1000 base currency units. Still you may want to check our list of brokers, offering even tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 available

 

The MetaTrader4 platform is a perfect choice both for beginner and professional traders. With its user friendly interface, great graphic tools and more than 50 integrated indicators one can easily explore huge amounts of market data. The most interesting aspect of MT4 however are its ExpertAdvisors or trading bots, with which you can run automated trading sessions. On top of that you can easily modify or even compile market indicators and trading bots by yourself on a specially designed scripting language - the MQL4. Here you can check our list of brokers, also offering  MetaTrader4:

 

>>Find other MT4 brokers here<<

 

GTC Global Trade Capital Disadvantages:

 

Lack of regulation

 

GTC Global Trade Capital Ltd is a company registered in June 2017 in the UK with a starting capital of 1000 GBP. The broker says it has offices in England, US, Australia, the United Arab Emirates and Hong Kong and that it is a member of the UK based Financial Dispute Resolution Commission (FDRC). 

 

GTC Global Trade Capital Ltd however does not have a license by any of the well respected financial authorities. The  FDRC membership is not a substitute for a license by the Financial Conduct Authority (FCA) in the UK for example.

 

FDRC is just a private dispute resolution entity, while FCA is a government backed regulator, with powers granted and established by the British Low.

 

For those reasons we will review GTC Global Trade Capital Ltd as an unregulated broker and that significantly lowers its credibility.

 

In recent years forex brokers around the world flocked to three major centers – the UK, Australia and Cyprus, where the regulatory regimes are both strict enough to inspire confidence among investors and balanced in a way to give brokers enough flexibility to expand their operations. 

 

The Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) are among the most respected global regulators. All brokers overseen by these institutions are obliged to maintain a minimum capital adequacy ratio and to create a special segregated account in which all customers' funds are held separately from the broker's own capital.

 

And last but not least, all FCA and  CySEC brokers are forced to participate in clients' money insurance schemes, under which if a broker goes insolvent traders can receive part of their capital back. 

 

With FCA brokers the insured amount is up to 50 000 GBP, while with CySEC brokers the insured funds are up to 20 000 EUR. Here you can check our list of FCA licensed brokers:

 

>>Find FCA regulated Brokers here<<

 

Few currency pairs

 

GTC Global Trade Capital offers trade with only 29 forex pairs with the Hong Kong Dollar the only exotic currency in the list. Other instruments include CFDs on gold, silver, oil and natural gas, but there are no indices, stocks or crypto currencies. Here you may check our list of brokers, offering CFDs on Bitcoin:

 

>>Bitcoin Forex Brokers<<

 

Few payment methods

 

GTC Global Trade Capital accepts only credit or debit cards and bank wire transfers. There are no popular e-wallets such as PayPal, Neteller or Skrill. Here you can check our list of brokers, where you can make transfers with PayPal:

 

>>PayPal Forex Brokers<<

 

Conclusion

 

Having in mind that GTC Global Trade Capital is an unregulated broker, which by definition lowers its credibility, you may still open a 10 dollar starting account with them just for the fun of trading. You have the MetaTrader4, good maximum leverage especially with the Mini Account and reasonable spreads, at least as we tested them with the Demo Account.

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Traders` reviews for GTC Global Trade Capital

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