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GFT Forex Discussion

Quoting dimmi
I have used a broker which uses the GFT Dealbook platform.

I will tell you, and please listen.

GFT platform is THE WORST platform I have ever used

Let's say you buy EURUSD @ 1.3500.

Every single day they do a rollover.. let's say the price is now 1.3600. You are up +100 pips. But each day they do a rollover, they do an 'adjustment' in the account, and move your position every single day. So the price might now be 1.3600, but it shows you as only +9 - as they have moved your entry. The next day it might be 1.3650 (but reached 1.37) and it shows you as -23.

If you have multiple positions, you basically need a spreadsheet to keep track of WHERE your trades are.

Their account summary is not easy to follow, as each of these rollovers (every day) creates another entry.. so that 1 EURUSD position @ 1.3500 if you keep it awhile, takes a lot of room in the summary. The rollover doesn't distinguish between Interest received/paid either.


Ok, THAT'S HUGE!!! Why are there not more people mentioning this in this thread? Are there any other traders that can attest to what the above poster has mentioned?
This is called Roll, it happens with every single broker you use. It is not uncommon, and if you are on the other side of the trade they pay you the interest.

Call and ask a rep at GFT and they will send you a copy of the roll over procedure so that you can review it yourself.
If anyone was/ is interested in my post 196 here, check out

http://www.forexfactory.com/showthread.php?t=53189

post 216 for the answer.

rorieu
There's no question that GFT's method of rolling trades is BANK friendly and not TRADER friendly in terms of being able to read it, but it's accurate.
You have to watch your Unrealized P/L , CASH and Floating P/L to see instantly where you are on a trade.
So does anyone write any ea's for their ctl language?
Hi,

I use GFT's Dealbook 360 and I am starting to use the chart studio which comes with it.

I have added the Hull Moving Average indicator which was kindly supplied by Witchazel earlier in the thread. My question is.......how do you overlay the indicator onto your chart? My HMA is in a window below my chart which isn't ideal.

Thanks,

David.
When you add any indicator there is a check box at the bottom entitled "add to new subgraph". Just make sure you uncheck this box if you want the indicator on the price chart.

Quoting dwrights
Hi,

I use GFT's Dealbook 360 and I am starting to use the chart studio which comes with it.

I have added the Hull Moving Average indicator which was kindly supplied by Witchazel earlier in the thread. My question is.......how do you overlay the indicator onto your chart? My HMA is in a window below my chart which isn't ideal.

Thanks,

David.
Many thanks for your help.
  • Post #209
  • Quote
  • Edited Sep 2, 2008 12:09am Sep 1, 2008 12:46am | Edited Sep 2, 2008 12:09am
can I scalp and trade news with GFT?GFT allow scalper?thanks
If you want anything like Customer Service forget GFT, platform crashes all the time, FX/CFD specialist has no idea, and when you do have a question you get transfered all over the company trying to find someone who may have an answer. Which never happens.

My favourite line came from my supossed FX Specialist when complaining about another member of the so called Customer Service team "I don't have the authority to question my colleagues work practices" Not even when they didn't return a phone call for 3hrs!!!!! even though promised to call back in 15mins

See my post in following thread for more details

http://www.forexfactory.com/showthread.php?t=129382
I never had a platform crash, the only time I did, was because they were doing maintance. Customer service is always top notch, and spreads are low. 5 stars.
Quoting big_pipin
I never had a platform crash, the only time I did, was because they were doing maintance. Customer service is always top notch, and spreads are low. 5 stars.
I disagree on every of your points. Spreads are not low at all. 3 pips on the E/U and 4 on the G/U. Few months back they came down to 2 & 3 pips respectively but now they are back up again.

Platform never crash? It happen once to me 1 or 2 months back. Also the platform slows or does not respond whenever there is a major news release. Try testing the platform during these times.....it almost seems as if the whole platform "hangs". You can't cancel or put any orders in which leaves you sweating especially if you want to exit your position. Its not responsive at all during critical times. It is during these crucial times that you really need a platform that works and that is when it really counts...not during those times when everything is going smoothly! Who cares if the system hangs during slow markets????!!!! Its during fast moving markets that you want it to be working right!

Customer service don't know anything about technical issues at all. They only know how to get you to open an account with them and deposit funds with them. The Standard Operating Answer even from the Technical staff is:"We are currently experiencing some technical problems and will try to solve down as soon as possible." Doesn't matters what questions you ask them, they just keep repeating the same answer to you.

So in essence, I agree with Duman. GFTForex is only good for investment entry BUT definitely not for trading!!!
Quoting sitoca
I disagree on every of your points. Spreads are not low at all. 3 pips on the E/U and 4 on the G/U. Few months back they came down to 2 & 3 pips respectively but now they are back up again.

Platform never crash? It happen once to me 1 or 2 months back. Also the platform slows or does not respond whenever there is a major news release. Try testing the platform during these times.....it almost seems as if the whole platform "hangs". You can't cancel or put any orders in which leaves you sweating especially if you want to exit your position. Its...
yea i've been slipped too many times by them so i ended up switching brokers . don't deal with them unless you are a swing or longer term trader
My experience with GFT over several months, demo only, was mixed:

The program was often unreliable and at times very slow or impossible to open.

They claimed low spreads but frequently they were higher than advertised.

I found some aspects of the program very appealing but there are so few indicators available compared to MT4 and help on programming is impossible to find.

I have given up for now mainly because of the unreliabilty.
  • Post #215
  • Quote
  • Edited Nov 27, 2008 4:19am Nov 26, 2008 5:48pm | Edited Nov 27, 2008 4:19am
Stop hunters?
I have been a GFT customer for nearly 1 year. At first I thought they where the best broker out there and I loved the platform.

Before the Forex market started going crazy I had no problems with the platform or deal execution, however since the credit crunch turmoil I have seen a different side to GFT.

Basically the past three months with GFT have been a nightmare. My main problems with them have been....

Platform freeze or slow down when market price moves fast resulting to open positions not been able to be closed. This is very scarey and has lost me a few thousand dollars with GFT.

Deal desk is not helpfull at all. I have actually had the platform freeze on me with an open position but I couldn't close it due to the platform hanging. I have managed to close the position but I had been slipped by 80 pips by the time the deal desk got my close order. This has happened on numerous occasions and has cost me thousands. I did get a $300 dollar credit back from GFT but nothing since then despite more problems.

The above problems have made me not to trust the platform and I don't deal much on the GFT platform.

I must add that I use three monitors when trading so I have ODL and MBT on my screens at all times so I can see which platform is performing well. GFT have sucked big time over this busy period and their customer service/ Deal desk has been awfull with there "Go f**k yourself attitude".

I still use the GFT platform for charts and alarms but my Forex dealing is done through MBT and my oil trading through ODL. They may be better now the markets are settling a bit but that dosn't make there customer service any better.

My advise would be to use MBT as your broker and GFT/ODL for charts.
Amen ... dwrights, rorieu, rogerdoger, sitoca, Duman

I use to think it was me until I opened two other fx account with two different brokers. I make more money trading an Fxsol mini account & AlpariUS than my main broker (GFT). My biggest complaint is "slippage". When I close out a position ... I want it closed immediatly. Not 5-8-12 second later or not at all. I've had to hedge positions in order to close out an order.

Customer service has been failry good to me. Most questions/problems handled fast. Despoits/withdrawals are fast and painless. The only problem I've had with CS is, online technical chat. They can't reset anything, trade disputes are out of their hands, server outages ... again, cant help me (will give me that "script" about technical issuses). So I ask, "what's the point"?

I will give them credit on their spreads. Unlike other brokers, GFT spread remain constant. Eur/Usd=2pips (3pip during low volatile moments). I've even seen the 1pip that has been advertised. Unlike other brokers whose spread will fluctuate from 3pips-100pips in a matter of seconds ... I do rest assured knowing my spread cost is low before making a trade. Thats a plus.

If GFT can fix the all too constant "technical issues" and "slippage" like theres no tommorrow ... they would be an ideal trading/investing brokerage house. Not for scalping but for all other trypes of traders.
10 days ago I put a Funds Request in to take out my remaining funds from GFT.

10 days later, I still dont have it.

There Unrealized P/L is the biggest scam since the beginning of mankind.

Every day that goes by, my account gets smaller due to their bullshit currency conversions, AKA another way to rob you of every penny.


If my Funds transfer was 10 days ago, and I have not executed a single trade since then, then why did my account total fall again overnight? They say a Funds request takes 1-5 business days. yet they are still sucking money from my account.


You would have to be a fool to sign up with these guys, PM me if you want to know anything else.



And newbies, dont get sucked in by their so called glorious customer service. GFT are sales driven, thats all that matters. The more people on their books, the more money for them. You sign up, they steal your money. Simple.
I should also state that I started with a 5K account. After 1 day, I was already up 1K.


Obviously the alarm bells went off in had office, cos since them I have lost 80% of my account.


And not through bad trading, I assure you.
Quoting bugscoe
GFT look all slick and good on the outside. However, you can plan on getting bad fills once you start to make some money and you can also count on having your stops taken out all the time.

They would let me into trades but then would not fill me once I wanted to get out, especially around faster moving markets. And I had enough stops taken out to the pip to tell me there was some shady stuff going on.

Look elsewhere.

What he said.
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