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Extra Charges by GFT

  • #1
  • First Post: Apr 18, 2009 10:05pm Apr 18, 2009 10:05pm
I hope all singaporeans and other country people not to be fooled by GFT appearance. They may seem honest to most people but when u start winning money, they will do something to your account which will deduct those winnings that u make and they will say that those are actually costs relating to what i trade, soon u will end up with losses in the long run. Stay away from them. Moreever, they are market makers.
  • #2
  • Apr 19, 2009 3:17am Apr 19, 2009 3:17am
Yep you're right.. after client make a profit they will do dirty games like all order go to Dealers 'Manual execution, hanging order & huge slippage'
Charting Markets into the Future...MǎҖ€¥.
  • #3
  • Apr 19, 2009 6:35am Apr 19, 2009 6:35am
Quoting shadowman
I hope all singaporeans and other country people not to be fooled by GFT appearance. They may seem honest to most people but when u start winning money, they will do something to your account which will deduct those winnings that u make and they will say that those are actually costs relating to what i trade, soon u will end up with losses in the long run. Stay away from them. Moreever, they are market makers.
exactly. to add, good broker dont take 3 days to do settlement, GFT is total BS.
  • #4
  • Apr 19, 2009 8:54am Apr 19, 2009 8:54am
Except for the 3 day settlement, what other "gotcha's" are you all experiencing with GFT?

While, the 3 day settlement is an pointless way of holding on to the profits I've made, it does work for you when taking losses; allowing you to hold on the money you do have a little longer. I count my lucky stars everyday as I have not been place on Manual Execution almost a year now. I place an order and execution is instant. Platform connection is more reliable than now than before; haven't had platform connection problems in a long time.

The only real complaint I have is Credit/Debit withdrawals. If I deposit using a Credit/Debit Card, funds show in my account only hours afterwards. When I place a withdrawal order, funds show up in my account within 5 days after which.
  • #5
  • Apr 19, 2009 8:55am Apr 19, 2009 8:55am
Quoting belief
exactly. to add, good broker dont take 3 days to do settlement, GFT is total BS.
On most pro platforms transactions settle at T+2. Its standard banking practice. Every transaction has a transaction date, booking date and valuation date.
  • #6
  • Apr 19, 2009 4:35pm Apr 19, 2009 4:35pm
Quoting shrike
On most pro platforms transactions settle at T+2. Its standard banking practice. Every transaction has a transaction date, booking date and valuation date.
After the 3 days, they apply conversion rate to convert back to your base currency hence the conversion fluctuation during 3 days is unmanageable risk too much to take. Do you want to gamble or you want to trade in proper manner? Please share if you are their existing client or not?
  • #7
  • Apr 19, 2009 8:26pm Apr 19, 2009 8:26pm
GFT isnt really all that bad compared to the totally sleazy bucketshops out there.

I once had an account here too. GFT sales were very nice people - i will give them 9/10 approval. However, we dont trade with sales representatives but with their dealers. This is when all expectations go bad.

How in hell positions would take several minutes to close? Volatile News? SHUT UP! it wasnt even during news. Later I was told they have dealers to manually confirm transactions. Now I get it; in this age of computerization and automation, they prefer to execute our orders manually .. needless to say, i closed the account and waited a week because, they need to square/liquidate or whatever their reason was of my last position before i can withdraw...

GFT = Go F**k Them
  • #8
  • Apr 20, 2009 1:08am Apr 20, 2009 1:08am
From 3 month ago i was have position with -4 i clicked close and it didnt
Trying CLose Close for 2 min.... and order was in pending mode and flash RED
then at the end the Dealers close my order with -19

When i complain they told me.... sir check your internet connection !!...Totally Crap.


Quoting ragnakore
GFT isnt really all that bad compared to the totally sleazy bucketshops out there.

I once had an account here too. GFT sales were very nice people - i will give them 9/10 approval. However, we dont trade with sales representatives but with their dealers. This is when all expectations go bad.

How in hell positions would take several minutes to close? Volatile News? SHUT UP! it wasnt even during news. Later I was told they have dealers to manually confirm transactions. Now I get it; in this age of computerization and automation, they prefer to execute...
Charting Markets into the Future...MǎҖ€¥.
  • #9
  • Last Post: Apr 20, 2009 1:53am Apr 20, 2009 1:53am
I had the same problem with GFT of orders or close positions hanging there just pending their dealers to act. In the end, always losing pips because of it.
You will see on any broker thread that some people are happy with what everybody else considers a bad broker. Even the worse brokers have their supporters. The people trading with these brokers are NOT making money.
It's when you start making money consistently that broker problems start.
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