GFT As a Broker, Good? Bad?

[stockmarcus 10]

Hey,

 

Im thinking about opening a live account with GFT for CFD and fx trading. Just wondering if anyone has had any thoughts on whether they're a reasonable broker. Any strong reasons to join or avoid them?

 

Thanks, any opinions/advice/reviews appreciated.

[BlowFish 10]

Well really they are a bookmaker rather than a broker. Though CFD's are better regulated than spread bets they are still a bet.

 

I have no first hand experience of them but they seem like one of the more credible operators. They tell me there platform is very good too!

[stockmarcus 10]

I ended up making an account with them.

 

Their platform is definitely the best out of the cfd providers, available in Australia at least.

 

All the (non DMA) cdf providers seem to be their own market makers, all of the cfd providers in the fine print state that the prices are "based on" the underlying market, but do not give the exact criteria. Ive noticed differences between different cfd providers, but its not enough to be offensive, at least with stockmarket indices.

 

Im keeping an eye out how the fills behave over time, thats the only area im still 'curious' about with them.

[kazos 10]

I had very bad experiences with GFT a few years ago, trading forex. Platform and charts are nice but there were problems with executions. Perhaps it has changed. Anyway I am not going to risk my capital with them.

[Wilson 10]

I used to have an account with GFT broker..had to close it because of the rollover charges, bad customer service (they were always telling me that I am the first person this is happening to). Stay away is my advice..

Do your homework and select abroker with good reputation..I am now trading with Forex-metal broker and they're much, much better..

[Cryten 10]

Looked into GFT extensively and the word is stay away. I know brokers get bad rep anyway but I could hardly find any good points from customer feedback.

[Bil Gadzooks 10]

bad customer service (they were always telling me that I am the first person this is happening to).

 

That sounds strangely familiar...

[stockmarcus 10]

Been with them for a few months. Haven't done any major trading with them, but their demo accounts and platform (you do give up interest on your opening balance) have been great for learning the ropes of intra day trading.

 

So far, compared to more well known cfd market makers in aus (i have an account with cmc also), noticed that the volatility (on equity indices at least) is greater on the minute bars. The bars are just longer. But their spreads are also lower, so that makes sense.. Its not offensively greater at least. Haven't had any problems with orders. I happy to stay with them for now at least. The only thing that sort of disturbs me is the local number to speak with a broker routes to the us, doesn't look like they have that much of a presence here.

 

Where are some good places to go for broker reviews?