Anybody trading with GCI? | Forex Factory

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Anybody trading with GCI?

  • #1
  • First Post: Nov 12, 2009 9:29pm Nov 12, 2009 9:29pm
I have passed the demo phase and now want to go live. I am thinking to go with GCI. It says that there is no commission and I can trade on futures and bonds as well. I am not sure whether GCI is trustable or not.

If there is anyone using GCI platform, please post about their service.
  • #2
  • Nov 12, 2009 10:10pm Nov 12, 2009 10:10pm
Quoting The Lord
I have passed the demo phase and now want to go live. I am thinking to go with GCI. It says that there is no commission and I can trade on futures and bonds as well. I am not sure whether GCI is trustable or not.

If there is anyone using GCI platform, please post about their service.
I demo traded with Global Capital Investment(GCI) since 1998. Most brokerage houses came into existence in 2002. GCI is one of the oldest in the lot.

I tried to open a real account with them but learnt that they do not accept clients from the US and the UK (at least until last year). They had an office in the US few years ago but I am not sure what happend to it. I also heard that they were in the news and had changed their name. If I correctly remember they added the word "Trading" to their name several years ago.

They recently moved to MT4 platform. Their old one was not bad either.

But I have no experience of dealing with them. I think they are based somewhere in Germany. You may like to check what regulations they are subject to. I found nothing special on this on their website few years ago. You may also like to see what kind of news was it about them in the US media. Someone told me that news did not relate to "that GCI" and there was a different GCI in the United States. I am not sure if it was a different GCI or the same one plus I could not understand the US regulatory issue with GCI. I got an impression that GCI was too good to compete with.

As already mentioned I never deallt with GCI apart from using their demo account.
The Thief of Wall Street
  • #3
  • Nov 13, 2009 2:50am Nov 13, 2009 2:50am
you are talking about gcitrading.com and the ICTS platform?




Quoting The Lord
I have passed the demo phase and now want to go live. I am thinking to go with GCI. It says that there is no commission and I can trade on futures and bonds as well. I am not sure whether GCI is trustable or not.

If there is anyone using GCI platform, please post about their service.
  • #4
  • Nov 13, 2009 5:38am Nov 13, 2009 5:38am
Quoting someone1
you are talking about gcitrading.com and the ICTS platform?
yes.

gcitrading.com
  • #5
  • Nov 13, 2009 5:57am Nov 13, 2009 5:57am
how their prices move ?
  • #6
  • Nov 13, 2009 9:24pm Nov 13, 2009 9:24pm
Quoting dinofx
how their prices move ?
They claim they have fixed spread. In the demo, nothing is wrong. Everything seems nice even during news as well.
  • #7
  • Nov 13, 2009 9:27pm Nov 13, 2009 9:27pm
Quoting Chicky
I demo traded with Global Capital Investment(GCI) since 1998. Most brokerage houses came into existence in 2002. GCI is one of the oldest in the lot.

I tried to open a real account with them but learnt that they do not accept clients from the US and the UK (at least until last year). They had an office in the US few years ago but I am not sure what happend to it. I also heard that they were in the news and had changed their name. If I correctly remember they added the word "Trading" to their name several years ago.

They recently moved...
Thanks for the info. Should I go live with them?
  • #8
  • Nov 14, 2009 5:27am Nov 14, 2009 5:27am
Quoting The Lord
Thanks for the info. Should I go live with them?
There is a scam finding against this broker. Check the Forex Peace Army website.
  • #9
  • Nov 14, 2009 11:28am Nov 14, 2009 11:28am
Quoting The Lord
Thanks for the info. Should I go live with them?
The best option would be to, whoever you go with go small. Test them over the time.

I do not trust any single one of them and therefore keep my ass covered all the time.
The Thief of Wall Street
  • #10
  • Nov 14, 2009 11:52am Nov 14, 2009 11:52am
If you want to put your money in a Belize based broker..... yeah do it.....
  • #11
  • Nov 14, 2009 2:36pm Nov 14, 2009 2:36pm
I have traded with them for a couple of years and have never had an issue. They are not very quick at execution though, so if you are planning on news trading you will not like them. They do not charge a commission, just the spread.

oo7_ts
  • #12
  • Nov 15, 2009 1:47pm Nov 15, 2009 1:47pm
Quoting The Lord
I have passed the demo phase and now want to go live. I am thinking to go with GCI. It says that there is no commission and I can trade on futures and bonds as well. I am not sure whether GCI is trustable or not.

If there is anyone using GCI platform, please post about their service.
How can you go wrong with such a great signature pic
:-)
  • #13
  • Nov 16, 2009 5:25am Nov 16, 2009 5:25am
Quoting oo7_ts
I have traded with them for a couple of years and have never had an issue. They are not very quick at execution though, so if you are planning on news trading you will not like them. They do not charge a commission, just the spread.

oo7_ts
I am a long term trader, so execution would not be a big problem. At least I found somebody trading for couple of years with gci.

Meanwhile, I did some research on them and now ready to test them with some real money. Lets see how it goes. Everything seems fine.
  • #14
  • Nov 16, 2009 1:10pm Nov 16, 2009 1:10pm
I have used them live but moved over to Eforex, same platform and I know the guys that own it. So i felt I am better off giving the spread to someone I know.

I am loyal....
  • #15
  • Nov 17, 2009 2:13am Nov 17, 2009 2:13am
I have tested demo too.. good results but they have fixed spreads. Now ECN is knocking doors.. i guess variable tighter spreads attract me lot..
  • #16
  • Nov 17, 2009 10:42am Nov 17, 2009 10:42am
Quoting jagrim
I have tested demo too.. good results but they have fixed spreads. Now ECN is knocking doors.. i guess variable tighter spreads attract me lot..

ECNs have commission and they are not fixed, so at the end of the month, it turns out to be the same.

Live and learn
  • #17
  • Nov 17, 2009 10:51am Nov 17, 2009 10:51am
Quoting mike999
ECNs have commission and they are not fixed, so at the end of the month, it turns out to be the same.

Live and learn
I don't like commission. Zero commission gives a little psychological advantage.
  • #18
  • Nov 17, 2009 2:03pm Nov 17, 2009 2:03pm
Quoting The Lord
I don't like commission. Zero commission gives a little psychological advantage.

I agree
  • #19
  • Nov 17, 2009 3:13pm Nov 17, 2009 3:13pm
GCI? Whoa!

You'll go live, and you'll get slippage, you'll get rejections, you'll get bad fills. GCI operate a dealing desk in every bad sense. 6 years ago they were OK, now they're a bucket shop - pure and simple.

Look, I can only go on experience, but so far the best offshore broker is Osiris FX, by a mile.
  • #20
  • Last Post: Nov 17, 2009 7:45pm Nov 17, 2009 7:45pm
Quoting lingsbord
GCI? Whoa!

You'll go live, and you'll get slippage, you'll get rejections, you'll get bad fills. GCI operate a dealing desk in every bad sense. 6 years ago they were OK, now they're a bucket shop - pure and simple.

Look, I can only go on experience, but so far the best offshore broker is Osiris FX, by a mile.
I have faced slippage on few seasonal commodity products on GCI's platform (soybeans, lumber, etc.) but not on major pairs.

Have you got some live experiences of their slippages or bad fills?
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