It is popularly known as GFT Forex but the brokerage company behind it is known by the name Global Futures and Forex Limited. It was founded in 1997 and is headquartered in Ada, MI, USA. It is registered as a Futures Commission Merchant with the Commodity Futures Trading Commission and is also a member of the National Futures Association.
GFT is regulated in Australia by the Australia Securities and Investment Commission and in Japan by the Financial Services Agency. The Company also has full fledged Sales offices in New York, Illinois, Tokyo, London, Sydney, Dubai and Singapore.
The market position of GFT is extraordinarily solid in view of the fact that it is a provider of global foreign exchange trading in more than 120 countries through its trading platform. The Company prides itself as a global leader in online currency trading.
Apart from the fact that about 120 currency pairs are available for trading, it provides a commission free trading environment with no order slippages during normal foreign exchange trading hours.
This brokerage company has been the recipient of the “Compare Shares Stockies Awards” for being the Best Forex Provider in 2009.
To open a Mini account you require US $500 and you are assured of a leverage of 200:1
A Standard Account can be opened with a minimum of US $ 2500 and you get a leverage of 100:1
Accounts can be funded through Credit Card, Online checks, PayPal and by Wire Transfer.
The applicable spreads under normal conditions are as follows.
EUR/USD 3 Pips
USD/CHF 4 Pips
GBP/USD 4 Pips
USD/CAD 4 Pips
AUD/USD 4 Pips
Primarily there is a facility for opening a demo account.
GFT Forex has three types of trading platforms namely the Windows based Deal Book 360, the Web based Deal Book Web, and the Deal Book Mobile for wireless devices. All the platforms have capabilities such as one-click dealing and trailing stops.
The Deal Book 360 is a downloadable version and you can download it from the website easily. The Deal Book has a unique voice recognition feature. This feature allows you to trade with other clients on the platform by setting a bid price and setting your own spreads, and the deal goes through if the client agrees to the trade. This is a feature that is not found on other platforms.
But the Deal Book Web is a web based trading platform and you could view it within your browser. It is Java based and has a very streamlined interface.
Apart from English the support languages are Japanese, French, German, Korean, Polish, Portuguese and Spanish.
All contact information is readily available at the website. Toll-free numbers are also available for easy communication. The live chat feature has no downtime and is excellent. The live chat applet doesn’t keep you waiting at all and there is always someone to answer your queries.
The site is well designed. It is not congested with advertisements and is user friendly.
GFT Forex provides appropriate free forex training.
Their unique trading software is the right medium for the professional investor to trade especially when it involves large amounts of money.
GFT displays a certain strength and stability despite the worst and volatile financial market conditions.
With GFT Forex you also have the option of using a customer friendly and service oriented dealing desk, on a 24-hour 5 days a week basis.
Biographies of the entire management team of GFT Forex is prominently displayed in the website and that is certainly a plus point.
Although spreads are fixed in normal market conditions, variable spreads in times of volatile market conditions could be quite high. Besides opening an account is a complicated process.
GFT is best suited for the experienced trader and not for the novice who might experience some slippages at trading time.