How reliable is GFT Forex?
GFT Forex is a pretty well known Forex Broker that also offers a self developed Forex platform. GFT Forex is a retail broker but sometimes acts like an ECN broker which isn’t good at all.
There’s not a lot to say about GFT Forex. Every trader made his own experience with them and some reviews are good and some claim that GFT Forex is a scam. Well, as long as you can’t prove that it’s a scam you should be very cautious. But some reviews make GFT Forex look not very reliable.
One major complaint is that the GFT Forex software doesn’t work properly. Stop losses are ignored or the chart makes peculiar moves or changes afterwards. This is very strange indeed but no reason to claim that GFT Forex is a scam copmany.
Withdrawals seem to be no problem with this broker. This is positive and makes GFT Forex look more reliable.
But there’s a big problem that concerns many traders. Realised profit or loss can be adjusted afterwards. GFT Forex claims that the reason is that when you make your trade in another currency than your account balance is working with they have to make these adjustments. They are very small with low volatility but high when the volatility is high. Sometimes you will get some positive and sometimes some negative surprises.
You have to be aware of this otherwise you will call this broker a scam instantly.
You can’t prove that these broker is a scam but it doesn’t look that reliable.
Experiences with GFT Forex
GFT Forex is not the smallest forex broker and it’s also not the most reliable one. Let’s take a look at the trader opinions and experiences with this broker:
GFT has a great software, quick execution and a good support.
I don’t have any issues with them. The support is great. But the loading time is so slow. Please do something about it.
Attention, GFT charges a fee if you’re inactive and won’t let you know. This is not a nice tactic.
Very bad costumer service, no doubt about that!
I really like the GFT software, the indicators are great.
There’s something wrong with the charts that GFT shows. Sometimes the prices bounce around without making it visible to the trader. It looks like the software shows other data then it works with. This is only to the advantage of GFT. The excuses you hear from the support are ridicolous and don’t make any sense.
Stay away from this broker, the software is not reliable! I compared the GFT indicators with those of other forex platforms and surprisingly, certain indicators show the exact opposite at GFT. As if GFT wants to make a trade look like a sure thing while it is not! Also I traded simultaneously at two different platforms. While I made constant profit on the other platform, I lost money with GFT although I made the same trades.
The worst thing is that the costumer support doesn’t take you seriously. They just ignore your complaints and don’t care if I’m happy with them or not.
The usability of the software is really bad. I always lose connection.
One day the whole system broke down. If you had open trades in this case you could have lost a fortune. Refunding is something GFT seems not to be aware of! They don’t care about platform issues at all.
Automatic trading is ok but not the dealing desk.