Get this - I registered for a GFT seminar on building a trading strategy. I needed to talk to a service rep. on the phone, and he started giving me a sales pitch, trying to sign me up for an account. So when I told him I just wanted to go for the educational experience and that I was planning on using another broker he said "this is an insult to me" and started trying to berate me. Is this good public relations? I would stay away from these sleeze bags at all cost.

- Reviewed by traveler, February 22, 2008. Rating = 1/10

I was with them. Worst broker they have problem with the software and I can send anyone a picture from the mistakes on the platform. Email karlheinz@unwired.com.au

- Reviewed by snake, February 3, 2008. Rating = 1/10

Low life scum!!! Can't trade the news, bad fills, deal book web just impossible to use. Sales team are very nice until you open a live account then you get thrown to one side like another mug. There is just so much more I can say but I think you get the idea. Stay away from GFT at all costs.

- Reviewed by bigbadjim, December 14, 2007. Rating = 1/10

I'm in the forex market to make money not play with a fancy platform and charts...bottom line is they have a dealing desk and if they have to trade against you they will...They are cool and don't increase their spreads unnecessarily but you're better of going with FX Solutions.

- Reviewed by Epiphany, November 1, 2007. Rating = 3/10

They are bucker shop brokers. They will eat your money. They are perfect if you trade demo and mini account. They will always trade against you until your money is finished. They are forex rogues. Beware.

- Reviewed by Boro, October 20, 2007. Rating = 1/10

Hugh platform, extention length in algorithm charting unmistakably the best for carry trader's! I do agree that the rollover rate of reinvesting a position comes down to timing and can be deadly; especially when it comes to uping the antium (analytical points, doubling, high/low point, etc..)bonified. The hardest reasoning to this site is having an account manager-god only knows whether there point spotting there clients or turtling the leverage of margin or chart point? In my opinion the slippage spoken of occurs over weekends close and is due to sold positions(+/-)and compares to no other chart package I've endured and have as tight point ratios. Don't be fooled though when it comes to a standard account and a salesmen tries to make you buy into 100k at 10$ a point, leave it to the dukes to turn those stops frames around into unseen profits and losses. Trust me its not the market where everyone is buying, and don't get confused if you trade commodities with straight patterns. Over buying and over selling is all in the algorithm and can do more with more at the right times and mostly pertains to short positions and turtles using trickry to disappear.

So don't blame it on the machine; blame it on thee investors and beginners grasping a new industrial revolution when it comes to a crash. For granted forex is the market where the money is business is still business and time is all we have on our side. Don't think for one minute some thought, a magic spell, or yelling at the computer screen is going to change a sunrise or sunset.

- Reviewed by rainbowconceptions, October 13, 2007. Rating = 7/10

Impossible to make money with a mini account - even when you win - you lose - with all of the hidden charges and fees. Now I can't get my remaining funds returned! Closed my account 5 weeks ago but the wired funds have been lost in 'cyber space' and no one gives a damn! Get out now if you can - looks like GFT will be next to go to the wall! Complaint lodged with NFA.

- Reviewed by Keith, August 14, 2007. Rating = 1/10

For anyone who uses gft and makes money they will play games with you. I have 2 computers running on the same internet connection but use one for trading bigger lots. They did not let me exit a trade I got rejected 5 times I had to call the dealing desk to exit. As I was up around 25 pips and then -15 pips. If this has happened to you please file a comlaint with the NFA so this will not happen to anyone else the NFA number for GFT is 0339523 http://www.nfa.futures.org/index.asp I love their charts but they will try to steal your money as they are a bucket shop. So please if they have done you wrong file a complaint and not just a bad reivew. Thank you.

- Reviewed by deodavinci, July 21, 2007. Rating = 1/10

After careful consideration I have decided to not advise anyone to open a live account with GFT. For the following reasons: Exotic tabulation of account activity accounting. Poor delayed response news feed within the platform. No phone support after 1 A.M. EST. Sustainment of OCO STOP/LIMIT orders added to trade lots, even after said lots are closed. Platforms inability to auto check for signal loss reconnection. Easy loss of signal integrity even when computer has full connection with other platforms connected and updating fine. Administrative costs to trades not clearly disclosed without hide and seek search or hassle of complaint to a rep. As for the charts they are indeed good looking BUT they do have plotting anomolies at times. Candle/Bar skewing. Realtime plot stalling.

I have run the platform on some of the most powerful computers and net connections available... And still I find the connection loss more than once daily. The Gft website posts an uptime chart for the day, week, and month. What they are referring to is the actual integral hard system is running, not the out bound feed guarantee.... KEY! I cant say I'd openly acuse them of pump and dump on the signal feed, but I have countless hours of video feed that could point high probability.

If you're just starting out with readyness to fund a live account, I will say I do feel that FXCM has come a long way and well in the lead of the SpotFX Retail Market.

Increase your odds in favor and fully check the front and backoffice fine print of the broker you send your money to.

- Reviewed by PowerTrader, July 14, 2007. Rating = 1/10

By far the best trading platform for forex out there. One thing about sites like this when you read reviews most bad reviews come from bad traders who blame others for their bad trading. I have been with GFT for a couple of years I left after having an account there for 6 months and came right back to GFT for not only there charts, but for my broker that I work with. He is a licensed forex specialist not a customer service rep like most forex dealers have.

- Reviewed by Don Nadler, June 23, 2007. Rating = 10/10

Not good for news trading at all...Freeze + Huge slippage.

- Reviewed by MaXeY, June 1, 2007. Rating = 3/10

Best charts around...

- Reviewed by brooks79, May 5, 2007. Rating = 8/10

Having traded with FXCM for almost three years, I was looking at other platforms in the market that might just be appealing to me. And thats when I came across to GFTUK - they had one of the best plaforms offering number of features and charting package within their platforms. However, after opening an account with them, and making my first long term trade, i noticed something of major concern. 2 Weeks into my trade, I was in a loss. However the account loss that I was shown by the platform did not equate to the monetary loss with regards to the number of pips. After doing some various calculations, i decided to contact customer services and report the anomaly.

I contacted customer services, reported the issue and they got back to me 4 hours later. They explained me something that was phenomenal. Those of you who trade out there, understand how greatly important it is to have a narrow spread on your trade to increase the chances for your trade to work out in your favour. Even more importantly, if you enter a trade that pays rollover, your chances of success get better and better as you are making more money in interest as well (im talking probablities). Many market makers I know, have fixed charges such as 1) the spread 2) the interest (positive or negative rollover)

Back to my story, Customer services told me, due to a short position that I took in GBPJPY, not only do i pay:
1)the spread (like all other platforms)
2)I also pay the difference in yields (overnight interest) like most other platforms
3)I also pay the SWAP + 0.5 extra pips as an administration fee to rollover my position to next business day.

DOES ANYBODY SEE A PROBLEM WITH THIS. YESSS!
GFT have designed a package that lures you to opening an account with them due to the great charting packages and other features they offer, but at the end of every trading day, you will be paying costs 2 + 3. Now if you think this is not a big deal, add the numbers up, and no matter how well you do, if you are a medium term trader, you will be losing alot of money. THis guys are really dangerous. DO NOT GET DUPED WITH WHAT THEY OFFER. QUESTION THEM ABOUT THEIR CHARGES.

After repeated phone calls with customer rep, I got the oppurtunity to talk with the manager. Having explained the whole situiation, he seemed to be confused between a 0.5 pip charge and daily night administration charge. He said, the difference wasnt that great, infact for someone like me who trades numbers all day long, the difference was huge, which i carefully explained to him, and he said he will get back to me.

Same day, another customer rep called me, and started explaning me the charges. Now as it happens, one customer rep who i spoke with 5 times prior to opening my account, had provided slightly wrong information to me, which again i explained to the the guy on the phone. He then takes me to website with the terms and conditions, and starts talking to me, in a way like im a 2 year old kid, and tries to be dominant by raising his voice as i try and put a few words to explain my point of view. Very unprofessional. Conclusion was, he would get back to me too regarding the issue.

Ladies and Gentlmen, like i said, trading is all about the odds being in your favour. Trading with GFTUK, is going ot stack the odds against you the longer you hold the trade. There are great platforms out there that dont charge an admin fee to roll your account to the next business day. But dont be put off, if you are a short term trader, I request you to do your due diligence, speak to the customer rep, ensure you read the fine prints of the terms and conditions, and you might be okay.

- Reviewed by Abs, May 4, 2007. Rating = 1/10

Lost my entire portfolio in less than a month. Even my margin was gone.

- Reviewed by GeorgEverett, May 3, 2007. Rating = 2/10

Once your deposit is done-you totally not appreciated. The sales agents will go all out of there way to get you to them but after that ...you at their mercy.

- Reviewed by snoeki, May 3, 2007. Rating = 1/10

Brokers who have platforms that allow you to "protect" orders by placing stop/limit orders on specific lots, but then do not cancel these OCO orders automatically when the position is closed at market (manually), are just preying on their clientele. It would take only a novice programmer to further protect the client, and there are many brokers out there whose platforms do this, so the only reason this potentially ruinous booby-trap exists, in my opinion, is so they can make a bundle off of you should you happen to forget to go into the working orders section and manually cancel the Stop/Limit orders. I still haven't figured out where they get their prices from, either. They have fantasy data feeds, too. There is nothing more disheartening than to watch a trade move in your favor, and have the prices not even come close to your premium data service prices (and, that's in addition to the spread). Maybe I could understand this during a heavy news event, but then, they still wouldn't be a very good broker, now would they? If you want WYSIWYG (compared to a preium data service), you need to look elsewhere.

- Reviewed by BetterBrokerWanted, May 2, 2007. Rating = 3/10

Rate & Review GFT Forex
2007/08 GFT Forex Ratings
More Broker Reviews

2006/07 GFT Forex Reviews

Higher spreads, customer service is mediocre.

- Reviewed by jman, April 17, 2007. Rating = 5/10

I left them after a year oco did not work, dealing desk not helpful.

- Reviewed by reynaldo, April 8, 2007. Rating = 1/10

Impressive, fast customer support, professional, I like the software, but the reporting needs improvement.

- Reviewed by C, February 1, 2007. Rating = 9/10

I have just had a 36 pip slippage with GFT. Cannot believe this! Have been trading with them for more than2 years and have had slippages of less than 10 all the time - Today 36 pips. VERY BAD!!

- Reviewed by Caprice, November 17, 2006. Rating = 3/10

Not happy with the way the statement is very hard to understand. I don't like the way they combine your trades if you place more then one trade at a time with one pair, then give you and average price. When you trade at news time the platform does not freeze, they just don't fill at the price you clicked on they requote you at a better price for them.

- Reviewed by Cheryl Kraai, August 5, 2006. Rating = 3/10

Reliable candlesticks and good indicators. Confusing interface and not user friendly unless you use it for many months. Poor customer service and lots of requotes and slippage. Basically poor execution after first 2 months.

- Reviewed by FXusa, August 1, 2006. Rating = 4/10

Pros: accurate, excellent platform, didn't notice any slippage so far.
Cons: Stops/limits have to be managed separately from main order, news service quite lax, aggregating open positions, platform reporting features AWFUL.

- Reviewed by iznogud, July 8, 2006. Rating = 8/10

Rate & Review GFT Forex
2006/07 GFT Forex Ratings
More Broker Reviews

2005/06 GFT Forex Reviews

Hang your market order on there maybe over 1 hour.

Rating = 1/10 - April 9, 2006

GFT has great charts but again uses a dealing desk that can potentially trade against you without your knowledge. Execution can be slow at busy times.

Rating = 3/10 - November 10, 2005

GFT is a lot of hype and they do try hard to be the best, but I can't have multiple trade windows open for multi-order execution, as my trading method requires.

Rating = 5/10 - November 8, 2005

CMS and GFT are the best for me, the two mentioned have an excellent platform, with charts, and the customer attention is good too.

Rating = 9/10 - November 3, 2005

Rate & Review GFT Forex
2005/06 GFT Forex Ratings
More Broker Reviews

2004/05 GFT Forex Reviews

GFT also have a good package, execution is little bit slow, but for limit orders guaranteed execution.

Rating = 8/10 - Apr 25, 2005

Love the Platform, top notch. Client support top notch. My complaints with GFT is with the timely accounting of transactions and means that info can be accessed quickly. Also do not like the fact that the GFT's DealBook FX platform does not allow the user to assign the local time displayed on both charts and reports. There is a lot of confusion in communicating with them about when something occurred. I am giving them an 8, but if the two complaints were effectively addressed I would give them a 10.

Rating = 8/10 - Apr 14, 2005

I will say that GFT has a decent charting package, but since I use TradeStation, this is not a big factor for me. My biggest complaint about GFT was that they couldn't articulate how I could get my money if they became insolvent.

Rating = 6/10 - Mar 7, 2005

GFT has a Great platform, good fills, desk is helpful. I try many service and they are best.

Rating = 10/10 - Nov 29, 2004

GFT has a great dealstation and charts. But no backtesting and no auto trading.

- October 1, 2004

Rate & Review GFT Forex
2004/05 GFT Forex Ratings
More Broker Reviews

advertisement*

Bookmark this page | Email this page