GCM Forex Broker Review

Name of the Company GCM Forex
Established  in 2012
Online since 2012
International Offices in Turkey
Payment Methods Bank Wire
Demo Accounts & Platforms MetaTrader4, MetaTrader Mobile and WebTrader
Different Account currencies TRY, USD, EUR
Regulated & Registered by SIPC, SPK
Are US Traders allowed? No
Bonus? (detailed)
Languages in which website is available Turkish
Languages in which support is available English, Turkish
Different Support methods Newsletter, Call Back, Phone, Chat and Email
Minimum account size $100
Type of Spread? Fixed
Minimum spread on EUR/USD, pips 2 pips
Is Scalping allowed? Allowed
Types of Trading instruments (GOLD; CFD, etc. and the leverage) Forex ( 1:100), CFD
Real Trading platforms MetaTrader4, MetaTrader Mobile and WebTrader
Do they have Personal manager? No
Is Trading by telephone allowed? Yes
Islamic accounts available Yes
·        Is  Hedging allowed? Allowed
Overnight interest rates (swaps) available? Yes
Do they have Trailing stop? Yes
Is One-click trading option available? No
Mobile trading present? Yes
Browser-based platform present? Yes

gcmforexGCM forex is one of the latest additions to the host of forex companies in the market and was established in the year 2012. In their quest to reach the wider customer base they have also started their online trading service the same year. They also allow their trader to put the trade order using a telephone. They provide Islamic accounts to their Muslim traders who follow Islamic laws for trading. Mobile trading facility is also offered to all the traders and is a boon for those who are travelling most of the time. The browser based platform allows the traders to start trading immediately without having to download any software. The deposit as well as withdrawal of the funds is only through bank wire. They allow three types of currencies in the traders account and include TRY, United States Dollar and Euro. It is well regulated by the regulating agencies like SIPC and SPK. The traders from United States of America are not entertained and allowed to trade from the company’s account.

The demo account as well as the real trading accounts has trading platforms as Meta Trader 4, Meta Trader mobile and web trader. Meta Trader Mobile is software that needs to be downloaded on the mobile and help to trade using internet on the mobile. Their website is available only in Turkish whereas the customer support service is available in Turkish as well as English. The customer service is available through newsletters, phone, chat, call back and email and is highly responsive. Scalping is allowed to all the traders who want to gain quick profits. The minimum deposit that is required to open an account with them is only $100 and the spread on the trade is fixed making it possible for the trader to know the cost of his trade before placing the order.

The review for GCM broker posted online by its users shows that they have pretty good service which is liked by many traders. Most of the reviews speak about the advanced trading tools that they provide to make the trading a wonderful experience. The customer support service though is available only in English and Turkish is of world class and is also very responsive. Most of them have written that their queries are answered very quickly and are satisfactory. Hedging and scalping is allowed to the traders and is liked by many. Their trading platform is excellent and is very fast helping in successful trading. The facility of putting the trade order through telephone is also liked by many traders. They do not charge any fees or commission on the trade that is done through them.  A few cons mentioned in the reviews are that their website is available only in Turkish, do not have the facility of personal manager, one click trading facility absent and that the only payment method available is bank wire. They also do not allow traders from United States. However, the average rating given to the company by its users is 4.1 out of 10.

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