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GFT Forex Discussion

  • #441
  • Aug 6, 2012 8:16am Aug 6, 2012 8:16am
Quoting ybfjax
why is this? Is it an infrastructure issue? regulation issue? or just stall tactic?
I think its a payment cost issue between banks and consumers. It costs more to process in less than 3 days, whereas its free for most transactions between banks if they take 3-4 business days.
  • #442
  • Aug 7, 2012 4:45am Aug 7, 2012 4:45am
Quoting cfxsignals
I think its a payment cost issue between banks and consumers. It costs more to process in less than 3 days, whereas its free for most transactions between banks if they take 3-4 business days.
Interesting....does the trader get this for free also, or is the trader still charged withdraw fee?
Measure trends automatically with zero lag
  • #443
  • Sep 27, 2012 8:23am Sep 27, 2012 8:23am
Do NOT open any trading account with GFTFOREX.com they are scammers and very hostile to retail traders. They will rip you off and if they can't they will close your account. I have traded with this broker for a year and so many red flags. They are terrified of the retail trader making money and will do WHATEVER it takes to cheat ou and steal from your account so that must means they have no money to cover. Warn everyone you know and put this scam broker out of business!!
  • #444
  • Nov 20, 2012 3:13pm Nov 20, 2012 3:13pm
Quoting kingrex
Do NOT open any trading account with GFTFOREX.com they are scammers and very hostile to retail traders. They will rip you off and if they can't they will close your account. I have traded with this broker for a year and so many red flags. They are terrified of the retail trader making money and will do WHATEVER it takes to cheat ou and steal from your account so that must means they have no money to cover. Warn everyone you know and put this scam broker out of business!!
Garbage!!!
Pip Goes The Weasel
  • #445
  • Nov 20, 2012 4:29pm Nov 20, 2012 4:29pm
Quoting kingrex
Do NOT open any trading account with GFTFOREX.com they are scammers and very hostile to retail traders. They will rip you off and if they can't they will close your account. I have traded with this broker for a year and so many red flags. They are terrified of the retail trader making money and will do WHATEVER it takes to cheat ou and steal from your account so that must means they have no money to cover. Warn everyone you know and put this scam broker out of business!!
in other words you cant trade and every trade you that goes against you is gfts problem? funny thing is GFT is one of the most reliable retail brokers out there if you cant make money using gft you cant make money anywhere and should give up.

WENDIGO
  • #446
  • Nov 20, 2012 8:26pm Nov 20, 2012 8:26pm
Quoting wendigo
in other words you cant trade and every trade you that goes against you is gfts problem? funny thing is GFT is one of the most reliable retail brokers out there if you cant make money using gft you cant make money anywhere and should give up.

WENDIGO
agree

gft is MM but send orders to banks. when using DealBook360 and after placing orders I got message that my order had STP execution.
  • #447
  • Nov 20, 2012 9:29pm Nov 20, 2012 9:29pm
Quoting wendigo
in other words you cant trade and every trade you that goes against you is gfts problem? funny thing is GFT is one of the most reliable retail brokers out there if you cant make money using gft you cant make money anywhere and should give up.

WENDIGO
Agreed!

I feel very safe with GFT, so many people blame the brokers for their poor trading.
Pip Goes The Weasel
  • #448
  • Nov 22, 2012 12:53am Nov 22, 2012 12:53am
I have just got an email from GFT that they have launched live USD/CNY (renminbi).
Nice.
  • #449
  • Dec 2, 2012 11:57pm Dec 2, 2012 11:57pm
GFT has made a business decision to cease supporting U.S. retail forex trading.

http://www.gftforex.com/Announcements/
No longer trading forex. Looking for full time job.
  • #450
  • Dec 3, 2012 1:04am Dec 3, 2012 1:04am
Quoting mmaker
GFT has made a business decision to cease supporting U.S. retail forex trading.

http://www.gftforex.com/Announcements/
OMG...bad news, very bad news...
although I have account at GFT UK, I will definitely close all positions and withdraw all my money...
  • #451
  • Dec 3, 2012 2:19am Dec 3, 2012 2:19am
Quoting slovforex
OMG...bad news, very bad news...
although I have account at GFT UK, I will definitely close all positions and withdraw all my money...
Why, this wont effect UK users. With the rules in the USA for Forex trading I don't blame them at all probably too much hassle.
Pip Goes The Weasel
  • #452
  • Dec 3, 2012 3:12am Dec 3, 2012 3:12am
Quoting adrazz
Why, this wont effect UK users. With the rules in the USA for Forex trading I don't blame them at all probably too much hassle.
Read between the lines. They do not have money to maintain US and Japan offices.
  • #453
  • Dec 3, 2012 3:33am Dec 3, 2012 3:33am
Quoting slovforex
Read between the lines. They do not have money to maintain US and Japan offices.
Protected by the FSA in the UK. Shouldn't be much risk
Pip Goes The Weasel
  • #454
  • Dec 3, 2012 5:57am Dec 3, 2012 5:57am
I'm in Australia which means my account is through the US entity. Does anyone else have an opinion on whether one needs worry about this development?

"Your current account (Forex and CFD) was opened through the Australian branch of our US entity, therefore, you will have to transfer your account to our UK entity to continue trading with GFT. "
  • #455
  • Edited 9:24pm Dec 3, 2012 6:20am | Edited 9:24pm
Quoting Gerry
I'm in Australia which means my account is through the US entity. Does anyone else have an opinion on whether one needs worry about this development?

"Your current account (Forex and CFD) was opened through the Australian branch of our US entity, therefore, you will have to transfer your account to our UK entity to continue trading with GFT. "
GFT, do u know how many people affected with such immediate decision?!
  • #456
  • Dec 3, 2012 6:49am Dec 3, 2012 6:49am
Quoting mmaker
GFT has made a business decision to cease supporting U.S. retail forex trading.

http://www.gftforex.com/Announcements/
I discovered that when I tried to open 2 positions last night. Neither took, so I called in. I was told that GFT was pulling out of the US market and my account would be transferred to another broker, but he did not know who the broker was. Suppose to be an announcement soon.

Does anyone have information on how to setup an offshore account? Kinda wonder how long this industry will last here in the US.
  • #457
  • Dec 3, 2012 10:01am Dec 3, 2012 10:01am
Quoting MarkMcCoskey
I was told that GFT was pulling out of the US market and my account would be transferred to another broker, but he did not know who the broker was. Suppose to be an announcement soon.
GFT is transferring it's US retail Forex business to TD Ameritrade.
I'm not insane; my mother had me tested.
  • #458
  • Dec 3, 2012 10:51am Dec 3, 2012 10:51am
Quoting RoBiK
GFT is transferring it's US retail Forex business to TD Ameritrade.
I find this interesting. When I originally entered trading, it was in 2008 with Thinkorswim. When it came to tax time, my printed statement had GFT's url on it. I exited the market in 2009, and Think or swim was bought by TD Ameritrade. I reentered the market when I opened my GFT account in 2011. Now that account is being moved to TD Ameritrade. My guess is that GFT has and will remain the back end for trading. So, in essence, perhaps nothing has changed.
  • #459
  • Dec 3, 2012 5:11pm Dec 3, 2012 5:11pm
Quoting RoBiK
GFT is transferring it's US retail Forex business to TD Ameritrade.
yeah, dam dirt bags. I have open trades and can only cancel trades. I wanted to add to my position.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #460
  • Dec 3, 2012 7:25pm Dec 3, 2012 7:25pm
Quoting MarkMcCoskey
Does anyone have information on how to setup an offshore account? Kinda wonder how long this industry will last here in the US.
This industry is ALREADY gone from U.S. retail markets as one by one the forex brokers are forced to shut down U.S. offices. It's the stragglers that still hold accounts with U.S.-based foreign brokerages ..... isn't it a matter of time before they move out of U.S.? Foreign brokers now flat out refused to accept U.S. clients.
http://forexmagnates.com/gft-throws-...-forex-market/

As to offshore account, it is against the law to openly discuss how to setup one. Google for it and there are sites teaching you how to do it, in between gray areas with IRS. I have accounts with UK brokers protected by FSA and one account with GFT Asia protected by MAS. These are regulated strictly and not like U.S. retail forex where they are loosely watched over by NFA (National Futures Association) who treated forex like crap and wished you traded forex futures at CME.
No longer trading forex. Looking for full time job.
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