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GFT Forex contacted me today

  • #1
  • First Post: Sep 22, 2006 9:40pm Sep 22, 2006 9:40pm
As some of you know, I am totally new to the Forex. In my quest to better train myself, I signed up for the GFT Forex demo account. Surprisingly, one of the reps from GFT called me up and said that he would help, and even train me in trading in the Forex. I am very impressed, but before I start up something like a mini account with GFT, I wanted to ask you guys what you think about GFT Forex. Thanks.
Binary Options Trader
  • #2
  • Sep 22, 2006 10:31pm Sep 22, 2006 10:31pm
They have a good name and I have seen The Man Merlin recommend them as a good broker.

I had the same experience in when signing up for GFT demo ...I live in Tokyo and a rep called me ( in English) to see what he could do for me- that is good sales work.
  • #3
  • Sep 22, 2006 10:35pm Sep 22, 2006 10:35pm
Quoting Yoda_Glenn
As some of you know, I am totally new to the Forex. In my quest to better train myself, I signed up for the GFT Forex demo account. Surprisingly, one of the reps from GFT called me up and said that he would help, and even train me in trading in the Forex. I am very impressed, but before I start up something like a mini account with GFT, I wanted to ask you guys what you think about GFT Forex. Thanks.
It took me forever to stop those guys from contacting me. Hey, if they are willing to show you how to make money go for it. The training is probably just to navigate the platform which is pretty difficult. Their charts are pretty good and they are one of the better MMs so long as you dont news trade.

Be careful with the 400:1 leverage though.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #4
  • Sep 22, 2006 11:12pm Sep 22, 2006 11:12pm
GFT's trading platform is excellent. Charts are part of the platform, better or at least comparable to the best charting packages available. Very good selection of indicators, as well as a strategy builder. You can deal directly on the chart, this is the biggest plus of the trading software. Very wide range of currency pairs available is another plus. Spread is good as well. I would suggest at least try it.

Hope the help.
  • #5
  • Sep 23, 2006 9:37am Sep 23, 2006 9:37am
To be fair: GFT is good for non-news related trading.

Slippage may exists but is limited to a few pips during NORMAL condition (they promise this when you want to open).
Execution is instant - again during normal market condition.

They can offer 400:1 leverage - nice. VERY Good for non-news trades. Spreads are so so - there are far more brokers out there with lower spreads....

BUT! GFT is the worst if you are trading news. I'd put them at the buttom of my list far lower than FXCM.

You be the judge. If you sign up with them just NEVER trade news with them. They have "hidden rules" that is always in favor of their house.

JUST dont trade news with them and you will be fine.

BTW. Withdrawal of money takes 1 week. At FXCM, it took less than 36 hours. But Im not recommeding FXCM either.
  • #6
  • Sep 23, 2006 10:29am Sep 23, 2006 10:29am
I tried GFT several times on demo. (Went for it due to its DiNapoli feature which I am not sure is still offered)

Got rep calls too. Now I know why.

For me it was the worst trading platform I have ever experienced. Contra intuitive and confusing. Even the rep got messed up. My feeling is that it is a techie platform not a trader platform.

When I tried it... luckily only a demo... could not close a position... would have lost 300 pips. Even after saving my charts.. could not recover them.
Then when rebuilding them, a single button push without warning erased everything.

Had similar confusing experiences when I decided to give it another chance twice more. No difference.

Lou
  • #7
  • Sep 23, 2006 12:15pm Sep 23, 2006 12:15pm
I enjoyed the GFT platform ... I actually spent my first year in forex training to trade on it. I loved it. I found the company very helpful and the chart great. I'm not a news trader, so I didn't experience any real trading issues. I also traded live with GFT too ... and that was also fine. I moved away from GFT because Oanda fix my style of trading the best. Since I don't trade during news time, I take full advantage of the lower spreads.

On the downside, there is always a downside ... hehe. I really didn't like the way their platform handled swaps. I always got a little confused when my position looked like it got moved. I'd rather just see the negative or positive swaps number ... that's just me. Like someone mentioned ... closing your account can take some time ... it took me almost 2 weeks. I even had to call them a few times ....

Happy Trading to you ....
If it is not broken, fix it until it is!
  • #8
  • Sep 24, 2006 3:19am Sep 24, 2006 3:19am
- GFT so cool during normal market condition

Fixed Spread , instant Execution, No slippage, ...........

But For news Trading it's BETTER to STAY AWAY !
- delayed execution (freeze 1-2min) you can't control the trade
- Slippage even in Minor News !

I was trading news live with GFT from 3 months and it was soo cool, but begain of this month GFT Became WOREST for News Trading !
Charting Markets into the Future...MǎҖ€¥.
  • #9
  • Sep 25, 2006 10:24pm Sep 25, 2006 10:24pm
I've been with GFT for a few months now, demo & mini account, and I'm pleased with everything. I've had a couple of technical glitches that their dealing desk has resolved quickly, and even refunded me $100 when my order got fouled up. I'm friendly with my rep, & he calls me periodically to tell me about upcoming seminars, additional services, software updates etc. They have related services to sell, so they'll be calling you to check your interest; that's to be expected. My rep calls me about once a month, and I refer people to him when I get the opportunity.

I haven't found a chart package that's even close to GFT, and I don't trade the news, so slippage isn't something I deal with. I love being able to place orders right on the charts. Based on my experience so far, I recommend it highly.
  • #10
  • Sep 26, 2006 1:50am Sep 26, 2006 1:50am
I was contacted by them also, but i could not download their platform because where i live there is a firewall. They tried but it would not work.
  • #11
  • Sep 26, 2006 2:11am Sep 26, 2006 2:11am
I've still got GFT guys calling me and trying to sell 2 CD's for 1600 USD! That's for their trading platform. They also offer a free forex forum you can join where you'll receive all the help you need - wow!


I'll stick with NorthFinance . . .
a journey of a thousand trades begins with a single pip
  • #12
  • Feb 19, 2007 7:52am Feb 19, 2007 7:52am
I recently withdrew some money from GFT and it only took me 2 1/2 days to get the wire transfer. All I had to do was to fax the authorization form. It was fast and painless.


Quoting BurgerKing
To be fair: GFT is good for non-news related trading.

Slippage may exists but is limited to a few pips during NORMAL condition (they promise this when you want to open).
Execution is instant - again during normal market condition.

They can offer 400:1 leverage - nice. VERY Good for non-news trades. Spreads are so so - there are far more brokers out there with lower spreads....

BUT! GFT is the worst if you are trading news. I'd put them at the buttom of my list far lower than FXCM.

You be the judge. If you sign up with them just NEVER trade news with them. They have "hidden rules" that is always in favor of their house.

JUST dont trade news with them and you will be fine.

BTW. Withdrawal of money takes 1 week. At FXCM, it took less than 36 hours. But Im not recommeding FXCM either.
  • #13
  • Feb 19, 2007 10:31am Feb 19, 2007 10:31am
So far, I've only used their demo. Had a rep call me several times (couldn't get together because of my work hours). When we finally got together, he went through the platform with me and made sure I got everything set up the way I wanted. Even showed me how to place orders and protect my positions.

I love their charts, but was using MT4, so it took me a while to get my particular setup in place. Once I did, I saved the various currencies as layouts and templates, and backup the Config folder daily in case anything happens.

The platform is a little more difficult than some I've used, but can be very powerful once you're familiar with it.

Remember, too, that you don't get all the indicators with a live mini account. You need to open a $2500 account to get everything. But ask your rep which indicators come with the mini account, because the ones they give you might be all you need.
  • #14
  • Last Post: Apr 9, 2007 2:02am Apr 9, 2007 2:02am
I have been using them for over a year. Account manager changed and didn't help much on my lastest issue with them. I had a slippage complain which they didn't take care of at all. It was 60 pips slippage during news. I set my stop loss a few day before the news happened. But, the stop didn't hit until 60 pips away, I lost more than double my original stop pips on that trade. I am withdrawing my $ despite the good Dealbook software they got. I can't trust the slipping won't happen again!
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