Anyone use GFTforex? Is it legit? | Forex Factory

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Anyone use GFTforex? Is it legit?

  • #1
  • First Post: Feb 16, 2008 9:09pm Feb 16, 2008 9:09pm
Is there anyone out there using GFTforex? I've read on other forums that many people have had problems with them especially when they start making money(like they will find ways to keep you from closing a trade while it is winning and take funds from your account or put you in trades that you didn't initiate so you will lose money). From what I've read so far they sound like a scam company, but I don't know. I would like to go with them because they are big, but I don't want to be scammed. I would appreciate any feedback from anyone that has used them. It seems like it is really hard to find an honest broker in this business.

Thank you.
  • #2
  • Feb 16, 2008 10:36pm Feb 16, 2008 10:36pm
This post gets to stay because GFT is a preferred broker and this one mentioning Dukascopy gets the recycle bin .......
both posters have less than 5 posts...... very flexible posting rules here don't ya think. Just curious.....
Same Whore .... Different Dress
  • #3
  • Feb 17, 2008 12:13am Feb 17, 2008 12:13am
you didn't answer anything regarding the question - so do you use Gftforex? Have you had any problems with Gft? Do you think I am ok to go with them? I'm glad there was at least a response, but I'm not sure why you posted that kind of a response - kindof didn't address anything about my question. Thank you.(I think)

So is there anyone out there that actually uses Gft and will post a real response? Thank you.
  • #4
  • Feb 17, 2008 12:16am Feb 17, 2008 12:16am
No I do not use GFT...3 pip for the EUR/USD? ... what a joke.....
Same Whore .... Different Dress
  • #5
  • Feb 17, 2008 12:36am Feb 17, 2008 12:36am
You're right in that I am kindof new here and from your last post maybe I am doing something wrong, but can I ask people who they recommend as a broker? I've done as much research as I feel I can on the internet and I am finding it really hard to find a clear consensus as to who to go with. I want to use someone big because I'm worried about all the new capital requirements etc, but I read in alot of forums how brokers will try to sabatoge your efforts once you start making money. I think it's really hard to decide unless other people out there can give strong recommendations as to who to go with and who is a scam. My problem is I've found complaints about every broker I've researshed! I was thinking also of Hotspot but are they big enough? Maybe the only thing I can do is go with one and see how good or bad they really are for myself.
  • #6
  • Feb 17, 2008 12:55am Feb 17, 2008 12:55am
I am thinking of going with Efx as well, I was just worried also if they too are big enough. I was with them a long time ago but I didn't like the platform, but I've gotten the demo again and it looks like they've changed it for the better(at least I think so).
  • #7
  • Feb 17, 2008 1:10am Feb 17, 2008 1:10am
You can check brokers records here..... http://www.nfa.futures.org/basicnet/
Same Whore .... Different Dress
  • #8
  • Feb 17, 2008 8:20am Feb 17, 2008 8:20am
Quoting Pipvalhalla
You're right in that I am kindof new here and from your last post maybe I am doing something wrong, but can I ask people who they recommend as a broker? I've done as much research as I feel I can on the internet and I am finding it really hard to find a clear consensus as to who to go with. I want to use someone big because I'm worried about all the new capital requirements etc, but I read in alot of forums how brokers will try to sabatoge your efforts once you start making money. I think it's really hard to decide unless other people out there can give strong recommendations as to who to go with and who is a scam. My problem is I've found complaints about every broker I've researshed! I was thinking also of Hotspot but are they big enough? Maybe the only thing I can do is go with one and see how good or bad they really are for myself.
Surprised you haven't gotten a sense of what brokers may be acceptable from your research. Google "forex broker reviews" and you'll get the right sites.

From that, you should be able to at least get a good start. There ARE decent brokers out there, but it's unlikely you'll get many people telling you which broker they use. Reason for that is there is a finite amount of liquidity at any broker, and the more people using a broker, the less liquidity there is available, and it only ends up hurting the person who recommended them to you. So don't expect a flood of recommendations unless people are recommending other brokers they don't use (like I'm about to do) .

Check out Oanda, EFX/MB Trading, and Hotspot would be my suggestions. All are "big enough" in my opinion, and I used to have an account with EFX. Stay away from MT4 brokers (all of them are bucketshops, although a few may still be ok to use).

Hope that helps and best wishes...
  • #9
  • Feb 17, 2008 8:28am Feb 17, 2008 8:28am
Quoting Pipvalhalla
Is there anyone out there using GFTforex? I've read on other forums that many people have had problems with them especially when they start making money(like they will find ways to keep you from closing a trade while it is winning and take funds from your account or put you in trades that you didn't initiate so you will lose money). From what I've read so far they sound like a scam company, but I don't know. I would like to go with them because they are big, but I don't want to be scammed. I would appreciate any feedback from anyone that has used them. It seems like it is really hard to find an honest broker in this business.

Thank you.
One of my very close friend is using GFT Forex but he never had any problem with them... Like all you have mentioned... Even he is making good mony with his very good experience...
  • #10
  • Feb 17, 2008 8:31am Feb 17, 2008 8:31am
Quoting Pipvalhalla
I am thinking of going with Efx as well, I was just worried also if they too are big enough. I was with them a long time ago but I didn't like the platform, but I've gotten the demo again and it looks like they've changed it for the better(at least I think so).
Ya i also dont like their Platform as i used their demo... Its not seem's user friendly at all... But seem's to me a honest broker with very good customer service...
  • #11
  • Feb 17, 2008 10:03am Feb 17, 2008 10:03am
Thank you everyone for your responses. It has really helped. I did google forex broker reviews before this and it did help, but then when I went to forums it seems like users have problems with all brokers - so then it gets confusing!

Anyway, thanks again to everyone and best of wishes to all in your trading!
  • #12
  • Feb 17, 2008 10:15am Feb 17, 2008 10:15am
Quoting Pipvalhalla
when I went to forums it seems like users have problems with all brokers - so then it gets confusing!
Yea Right you said this...
  • #13
  • Last Post: Feb 18, 2008 3:31pm Feb 18, 2008 3:31pm
I have been using GFT for over a year with no problems. I very rarely ever get a requote like some of the other brokers will do. The charting is the closest thing to Esignal that I have found after testing many Forex platforms. It takes a while to set up but once you have it set up it's cake from there.
Pippiper
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