GFT Forex 

Category: Forex Broker Reviews
http://www.gftforex.com
Average user rating from: 13 user(s)

Broker Rating
1.3
 
GFT Forex

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User reviews
SCAM
Wednesday, 10 February 2010

Written by M.S. from USA

I'm the latest victim of their hidden inactivity fee. I've lost $200 because they charged $25 and then $50/month due to inactivity. I expect the same level of professionalism from forex brokers as from credit card companies. The latter are now forced by regulations to disclose all the fees, simplify the fine prints etc. These are the same things CFTC should consider. I'm pretty sure there are a lot of others out there who feel victimized by all these irresponsible fees.

p/s: pls let me know if there is any on-going group considering to take legal action regarding to this practice
SCAM
Thursday, 17 September 2009

Written by koh boonhwa from Singapore

My EURGBP stop loss buy was surprisingly triggered 3 pips [0.8936] above the GFT deal360 chart quoted @0.8993 day high price, it hasn't even breached when this review is posted. When I was put through to their dealing desk, they reiterated the chart only reflected bidding price whereas my 0.8936 is triggered by their spread. [3 pips in a normal market!?]

This goes to show their quote is definitely not transparent and any stop is always subject to their ambiguous spread. I've failed to identify an executed day high price at 0.8936 with my other accounts nor the general markets. As I've an identical position stop order @0.8935 with MF Global and was reassured by them that any executed price has to be reflected in their price chart with matching or above price.

Much as I was impressed with their software to evaluate prior increasing them to my typical account size, prior to this last trade, I was also charged a negative rolling rate whereas with MF global I was credited with an identical trade and time!? In my 20+ years of trading, I will said this the most arrogant forex dealer I've ever come across that I can't help but to post this review as a warning to others.

With just these 2 bad experience, I've since initiated an immediate account closure.
SCAM
Tuesday, 23 June 2009

Written by jonny from USA

they have bad chart.price manipulation beware.I think nobody win on this broker.It's just a matter of time before you loose every single trade long or short the price will go the other way. No wonder they had book360. keep your money.They have the rigth to close the winning trade.
If your looking for the best EA this broker has it.
Sunday, 29 March 2009

Written by Atlanta, GA from USA

They charge an inactivity fee of $25 each month that they don't communicate to you. And their platform is too convoluted and complicated.
SCAM
Wednesday, 25 March 2009

Written by Alex Findlay from USA

Jan 6, 2009 ... GFT Forex is tight and great to trade with, regulations in 4 countries is an added advantage. 0. Author: Alex Findlay ...

Dear Stephanie:
C/O compliance
GFT FOREX

I did not write the above comment nor did I authorize it.

I was really not all that interested in doing battle with you and I had no plans on contacting you till the Statute of Limitations was about to expire. This is not the only time that I have seen GFT abuse my name to promote their business. I waited till GFT could not claim it was an error or oversight. After 40 years in the alcohol and adult entertainment business I know what it takes to win. A few years ago the city of Indianapolis challenged me, spent over $800.000.00 and lost after three appeals requiring the legislature to redraft the Statute. I had a similar experience with the City of Myrtle Beach but they backed down early in the game. If you check you will see that the State of Alabama amended their Sunday Blue laws rather than go to Court against me. Personally I think GFT is too dammed arrogant so I am willing to go this far out of principal for all those that you bullied into giving up. Before you bring it up I support prostitution but it is a legal and legitimate business in Nevada that is beneficial to society. If GFT was as honorable as the Call Girls I know this message would not have been necessary, Let me put it bluntly “ I trust the girls more than GFT”

You have Boris Schlossberg and Cathy Lien to thank for my change of heart. It was a smart move to hire them to bolster your tarnished credibility. Before they came on board I intended to humble GFT as I have the evidence to support my claims going back to broken promises by Wayne McDonald at Forex Bootcamp. Now I have more and in another 6 months I expect I will have even more, but because of Boris and Cathy I am making a suggestion that we settle. I have a number of emails from other GFT disgruntled customers, who have asked for my help and I expect you to diligently review their allegations also.

I am sending a duplicate secure message via the Bloomberg Terminal for verification so please do not get confused.

Please respond with your decision upon receipt of this message taking whatever action you deem necessary.




Yours Truly,

Alex Findlay
Afindlay1@bloomberg,net
SCAM
Tuesday, 24 March 2009

Written by Nero3x from USA

These people are a scam. Twice they didn't post a trade on the software that i put through and let it ride until i was way in the hole. I am sitting there thinking it was never excuted. After an hour or two it pops up with you down hundreds. What an interesting error. I called and they said i would have to "take picture of the screen and send it to them so they could investiage" (a picture of a blank screen) and that "they couldn't do anything since i closed out the order" in other words if i allowed myself to keep losing money they would "possibly" do something about it. More then likely not. I closed my account immediately. I month later they did the same thing to my friend by not excuting his stop order. Strangely the had no problem excuting his buy order. His account was wiped out. Need I say more?
SCAM
Thursday, 19 February 2009

Written by Tony Spica from USA

They charge hidden "inactivity fees" and don't tell you. I asked why they do that and Jamie Spoors says "that's just the way we do it." They don't send any monthly account report or anything else, so you don't know they are leaching away at your money. You have to call to find out what your balance is and they will "look it up."
SCAM
Friday, 06 February 2009

Written by DK from USA

I have used GFT for over 3 years. The charts and platform are very easy to use. The spreads don't widen during low liquidity. Since they don't widen the spreads , they play other games. In a fast market an order will sit there for a few minutes and if the market goes against you it will execute, and if it goes your way it time you out. During important news events the site always seems to go down. You can be watching a trade all day and when its time to close the position, the site locks you out and wont let you log on for 10 to 30 minutes. This has happened to me over and over.

Here is an important message for anyone that thinks you can loose all your money with a margin call: This company will not only take all your money if they give you a margin call, they will also charge you hundreds or thousands more because they will execute the order way under the margin call. I refused to pay them because I told them it was their fault for not cutting the trade in time. (This was not from a weekend gap). It happened during European hours. They will send a collection agency to try and collect the money from you.

I would stay away from this broker.
Friday, 16 January 2009

Written by Zadok from Tanzania

Their software is great. User-friendly and easy to master. I have just completed my demo and finds that it works great. I think now going live.
Friday, 28 November 2008

Written by Yvon Charbonneau from Canada

I have tried many platforms but never match the flexibility of GFTforex yet.
Thursday, 07 August 2008

Written by Steven Cook from United Kingdom

The only real complaint is that they simply take too long to process an order. At first I thought it was my computer but after speaking to several traders who have used them they all have the same complaint. While 30 seconds might not sound like a lot, in forex it is a lifetime and I need instant execution. I have since switched to Dukascopy.
Friday, 09 November 2007

Written by chris from USA

their platform and charts are great and customer service is good but often they have not executed my stop loss and i lose pips after being slipped more than 20 pips. it is an alright broker but there are others who are better
Wednesday, 07 November 2007

Written by Oliver from United Kingdom

Their demo platform is great with all the features you could ever ask for. My demo account is looking good and I have earmarked my bonus to open a live account with them possibly in January. A follow up review is called for and I hope the editors here will let me share my live account experience in a couple of months.


 
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