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The WikiFX Score of this broker is reduced because of too many complaints!

GRAND FT Market

Saint Vincent and the Grenadines|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://www.grandftmarket.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
GForexTradeMarket-Demo MT4
Server Location United Kingdom

Contact

gft-uae@grandftmarket.com
https://www.grandftmarket.com/
Suite 305, Griffith Corporate Center, Beachmont, P.O.Box 1510, Kingston, St. Vincent & the Grenadines
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

GRAND FT Market Limited

Company Abbreviation

GRAND FT Market

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away! 2
Previous Detection : 2024-02-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

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GRAND FT Market · Company Summary

Aspect Information
Registered Country Saint Vincent and the Grenadines
Founded Year 1-2 years
Company Name GRAND FT Market Limited
Regulation No Regulation
Minimum Deposit Varies depending on account type
Maximum Leverage Up to 1:1000 (Cent account), Up to 1:500 (Other accounts)
Spreads Varies depending on account type
Trading Platforms MT4/5 White Label, Desktop Trader, Webtrader, iOS Trader, Android Trader, MyFxBook
Tradable Assets Forex, Indices, Commodities, Stocks CFDs, ETF CFDs, CFDs on Bitcoin, Cryptocurrencies
Account Types Standard Account, Pro Account, Raw Account, Cent Account, Insurance Account
Demo Account Not specified
Islamic Account Not specified
Customer Support Email: gft-uae@grandftmarket.com
Payment Methods Not specified
Educational Tools Help Center, Trading Academy, Market News, Price Tables, Market Calendar

General Information

GRAND FT Market is an unregulated broker operating under GRAND FT Market Limited, registered in Saint Vincent and the Grenadines. The broker offers a range of trading accounts, including Standard, Pro, Raw Spread, Cent, and Insurance accounts. Each account type has specific features, such as varying spreads, commissions, and leverage options. While the broker claims to provide a diverse selection of tradable assets, including forex, indices, commodities, stocks CFDs, ETF CFDs, CFDs on Bitcoin, and cryptocurrencies, it's important to note that the lack of regulation raises concerns about the broker's credibility and investor protection.

Traders can access the markets through different trading platforms, including MT4/5 White Label, Desktop Trader, Webtrader, iOS Trader, Android Trader, and MyFxBook. To assist traders in their learning journey, GRAND FT Market provides educational resources such as a help center, trading academy, market news, price tables, and a market calendar.

It's crucial to exercise caution when considering GRAND FT Market as an option due to the lack of regulation and negative feedback from platforms like WikiFX. Potential clients should thoroughly evaluate the risks involved and consider alternative brokers with established regulatory oversight.

General

Pros and Cons

GRAND FT Market, an unregulated broker based in Saint Vincent and the Grenadines, has its share of advantages and disadvantages. On the positive side, the broker offers a variety of trading account types, catering to different trading preferences and budgets. The availability of multiple trading platforms, including MT4/5 White Label, Desktop Trader, Webtrader, iOS Trader, Android Trader, and MyFxBook. Additionally, GRAND FT Market provides educational resources such as a help center, trading academy, market news, price tables, and a market calendar, assisting traders in enhancing their knowledge and skills.

However, there are several drawbacks to consider. Firstly, the lack of regulation raises concerns about the broker's credibility and investor protection. GRAND FT Market operates without oversight or supervision from recognized financial regulatory authorities. Secondly, the broker has received negative feedback and warnings from platforms like WikiFX, with complaints and red flags surrounding its operations, including references to pyramid scheme complaints. These factors should be carefully evaluated before considering GRAND FT Market as a potential broker option.

Pros Cons
Variety of trading account types Unregulated with no valid regulatory information
Multiple trading platforms Negative feedback and warnings from WikiFX
Educational resources for traders Lack of transparency and oversight due to the absence of regulation
Wide range of tradable assets Limited information about demo and Islamic account options
High leverage options Customer support options are limited to email contact
Accessible website in multiple languages Limited information on deposit and withdrawal methods and fees

Is GRAND FT Market Legit?

GRAND FT Market is described as an unregulated broker with no valid regulatory information. This means that the broker is not subject to oversight or supervision by any recognized financial regulatory authority. The lack of regulation raises concerns about the broker's credibility and the level of investor protection provided.

The company behind GRAND FT Market is called GRAND FT Market Limited. It is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lax financial regulations. The company's website is https://www.grandftmarket.com/.

It's important to note that WikiFX, a platform that provides information and ratings on brokers, warns users about the risks associated with GRAND FT Market. The broker has a low score on WikiFX and has received five complaints within the past three months.

The use of terms like “pyramid scheme complaint” and the warning to stay away further highlight the potential risks involved with this broker. It is advised to exercise caution and consider these red flags before engaging with GRAND FT Market.

wikifx

Market Instruments

GRAND FT Market offers a variety of market instruments for trading. These instruments can be categorized into different types, including:

1. Forex: GRAND FT Market provides trading opportunities in various currency pairs, such as GBP/USD, EUR/USD, and USD/JPY.

2. Indices: The broker allows trading on different stock market indices like US100, UK100, and DE30.

3. Commodities: GRAND FT Market offers trading in commodities like GOLD (Au) and OIL.

4. Stocks CFDs: Trading is available for individual stocks of companies such as Apple Inc, Tesla Motors Inc., and Alphabet Inc - class A.

5. ETF CFDs: The broker provides the option to trade ETF (Exchange-Traded Fund) contracts for difference.

6. CFDs on Bitcoin: GRAND FT Market allows trading CFDs based on the price movements of Bitcoin.

7. Cryptocurrencies: Apart from Bitcoin, the broker also supports trading in other cryptocurrencies like Ripple and Ethereum.

market-instruments
Pros Cons
Diverse selection of forex pairs Lack of information on the availability of a demo account
Trading opportunities in various indices Limited details on the offerings of an Islamic account
Access to commodities like GOLD and OIL Limited information on the available stock CFDs
Availability of trading individual stocks Lack of clarity on the range of ETF CFDs
Option to trade CFDs based on Bitcoin Limited information on the selection of cryptocurrencies

Account Types

GRAND FT Market offers a variety of trading account types for its clients.

STANDARD ACCOUNT

The Standard Account requires a minimum deposit of $500 and offers spreads ranging from 1 to 1.5 pips. There is no commission charged, and clients can enjoy leverage of up to 1:500.

PRO ACCOUNT

The Pro Account also requires a minimum deposit of $500 and features a floating spread of 1 pip. Like the Standard Account, there is no commission, and the leverage is set at 1:500.

RAW ACCOUNT

For those seeking tighter spreads, the Raw Spread Account is available. With a minimum deposit of $500, clients can experience spreads as low as 0.6 pips, but there is a commission of $3 per lot/size charged. All three of these account types support Expert Advisors (EA's) and allow hedging.

CENT ACCOUNT

Alternatively, the Cent Account - Low is designed for traders with a smaller budget, as it requires a minimum deposit of $10. Spreads on this account start at 1.5 pips, and there is no commission charged. The leverage offered is higher at 1:1000, providing greater trading flexibility.

INSURANCE ACCOUNT

Lastly, GRAND FT Market offers an Insurance Account, which requires a minimum deposit of $500. It features a floating spread of 1 pip, with a commission of $3 per lot/size. This account type also includes insurance coverage. Like the other accounts, EA's are supported, and hedging is allowed.

account-types
Pros Cons
Diverse range of account types to cater to different needs Minimum deposit requirements may be relatively high for some account types
Option for accounts with tight spreads The Raw Account incurs a commission of $3 per lot/size, which may impact trading costs
Availability of Cent Account for traders with smaller budgets Spreads on the Cent Account are higher compared to other account types
Higher leverage offered in the Cent Account Limited information on specific features and benefits of the Insurance Account
Option for an Insurance Account with coverage Limited information on the availability of demo and Islamic account options
Support for Expert Advisors (EA's) and hedging No information provided on the performance or track record of the Insurance Account

Aside from these five trading accounts, GRAND FT Market also offers demo accounts. Please note that the MT4 demo accounts expire automatically after 15 days unless you have a live funded account and request this broker to set it to non-expiry.

Leverage

Trading accounts varies depending on trading accounts, with the Cent account offering the maximum leverage up to 1:1000, leverage offered by another four accounts up to 1:500, which is considered quite high.

To protect retail traders fund safety, many European regulators lower leverage cap below 1:30 for FX majors. However, GRAND FT Market is an unregulated offshore forex broker, it is under no restriction on leverage. Since leverage can magnify gains as well as losses, it is important for traders to choose the proper amount that they feel most at ease.

Spreads & Commissions

GRAND FT Market offers different leverage options depending on the type of trading account. The Cent account provides the highest leverage, with a maximum of up to 1:1000. The other four accounts offer leverage of up to 1:500, which is considered relatively high.

Spreads & Commissions

The spreads and commissions at GRAND FT Market are determined based on the type of trading account. The Cent, Standard, and Pro accounts provide a zero-commission trading environment. The spreads offered on these accounts range from 1.5 pips, 1 pip, to 1-1.5 pips, respectively.

For the Raw Spread account, the spreads are starting from 0.6 pips. The Insurance account also offers spreads starting from 1 pip. However, both of these accounts have an additional commission of $3 per lot per side.

spreads-commission

Trading Platform

GRAND FT Market offers multiple trading platforms to cater to different trading styles. Here's a brief description of these platforms:

1. Android Version: The broker provides the MetaTrader 4 app for Android devices. This app allows traders to access their accounts easily from anywhere.

2. iOS Version: GRAND FT Market offers the MetaTrader 4 app for iPhone and iPad users. The mobile app provides flexibility and maintains high speed and quality.

3. Desktop Version: The desktop version of GRAND FT Market's MetaTrader is designed to be user-friendly and convenient. It includes features such as a personalized trading dashboard for efficient monitoring of positions.

4. Web Version: GRAND FT Market provides a web application that allows traders to access the trading environment without the need for a dedicated trading desk. It offers convenience and accessibility from any location.

The various trading platforms mentioned include Desktop Trader, Webtrader, iOS Trader, Android Trader, and MyFxBook.

trading-platform
Pros Cons
Availability of multiple trading platforms Lack of information on advanced trading tools and features
MetaTrader 4 app for Android devices Limited customization options for the trading platforms
MetaTrader 4 app for iPhone and iPad users Potential compatibility issues with certain devices
User-friendly desktop trading platform Limited information on order execution speeds
Web application for easy access from any location Possible dependency on internet connectivity for web trading
Lack of information on platform stability and reliability

Deposit and Withdrawals

GRAND FT Market has specific deposit and withdrawal requirements for various cryptocurrencies and tokens. The minimum deposit and withdrawal amounts, as well as the required confirmations, may vary depending on the blockchain and network used.

For cryptocurrencies like Bitcoin, Bitcoin Cash, Dash, Dogecoin, Ethereum, Litecoin, Monero, Ripple, Stellar, TRON, Zcash, and Binance Coin, the minimum deposit and withdrawal amounts range from 0.0001 to 5, with minimum confirmations ranging from 3 to 20.

Stablecoins such as Binance USD, Dai, Pax Dollar, TetherUS, TrueUSD, USD Coin, TerraUSD, Tether EURt, and STASIS EURO have minimum deposit and withdrawal amounts ranging from 10 to 25, with a default number of confirmations set at 3.

Liquid tokens like 0x, Aave, Band Protocol, Basic Attention Token, Chainlink, Compound, Decentraland, Loopring, Maker, NuCypher, Polygon, Ren, SushiSwap, Synthetix, The Graph, Uniswap, yearn.finance, and others have specific minimum deposit and withdrawal amounts and default confirmations set for each token.

These requirements are provided for both the Merchant Solution and Enterprise Solution categories.

deposit-withdrawal
Pros Cons
Specific requirements for cryptocurrencies and tokens Minimum deposit and withdrawal amounts vary depending on the blockchain and network used
Information on minimum amounts listed in tables Minimum confirmations required for certain cryptocurrencies can be relatively high
Different categories for Merchant Solution and Enterprise Solution Limited information on deposit and withdrawal methods and fees
Lack of clarity on the availability of deposit and withdrawal options for specific tokens

Educational Tools

GRAND FT Market offers various educational tools to assist clients in familiarizing themselves with the platform and forex trading. These resources include:

Help Center: The broker provides a help center where clients can find information and answers to frequently asked questions, guiding them through the platform and its features.

Trading Academy: GRAND FT Market offers a trading academy that provides educational materials and resources for traders of different skill levels. This academy aims to enhance clients' understanding of forex trading concepts and strategies.

Market News: The broker provides access to market news, which can help traders stay informed about the latest developments, economic events, and market trends that may impact their trading decisions.

Price Tables and Market Calendar: GRAND FT Market offers price tables and a market calendar, allowing clients to track and analyze price movements and important upcoming events in the financial markets.

Customer Support

GRAND FT Market provides customer support through various channels. Their official website is available in multiple languages, catering to a wider range of clients. To contact their customer support, clients can reach out via telephone or email. However, online chat support is not available.

For clients located in the United Arab Emirates, the company's address is Boulevard Plaza, Tower 1 - Level 8 Sheikh Mohammed bin Rashid Blvd - Downtown Dubai, Dubai.

The provided email address for customer inquiries is gft-uae@grandftmarket.com.

Risk Warning

Forex and leveraged trading carry a high level of risks and it is not suitable for all investors. Please note that the information contained in this article is for general information purposes only.

Conclusion

GRAND FT Market, operated by GRAND FT Market Limited in Saint Vincent and the Grenadines, offers a range of trading account types and tradable assets for its clients. However, it is important to note that the broker is unregulated, which raises concerns about the level of investor protection provided. The company's website has received warnings and low ratings from platforms like WikiFX, indicating potential risks associated with GRAND FT Market. The broker provides various payment methods, but specific details are not specified. While the trading platforms and educational tools offered by GRAND FT Market aim to assist traders, caution is advised due to the lack of regulation and associated risks. Clients can contact customer support via email for assistance.

FAQs

Q: Is GRAND FT Market a regulated broker?

A: No, GRAND FT Market is an unregulated broker and does not have valid regulatory information.

Q: What is the minimum deposit requirement for opening an account with GRAND FT Market?

A: The minimum deposit requirement varies depending on the type of trading account. Please refer to the specific account types for more details.

Q: What leverage options does GRAND FT Market offer?

A: GRAND FT Market offers different leverage options depending on the trading account type. The Cent account provides the highest leverage, while other accounts offer leverage up to 1:500.

Q: What are the spreads and commissions at GRAND FT Market?

A: The spreads and commissions vary based on the type of trading account. Please refer to the specific account types for information on spreads and commissions.

Q: What trading platforms are available at GRAND FT Market?

A: GRAND FT Market offers various trading platforms, including MT4/5 White Label, Desktop Trader, Webtrader, iOS Trader, Android Trader, and MyFxBook.

Q: What tradable assets are available at GRAND FT Market?

A: GRAND FT Market offers a range of tradable assets, including forex currency pairs, indices, commodities, stocks CFDs, ETF CFDs, CFDs on Bitcoin, and cryptocurrencies.

Q: Does GRAND FT Market provide educational resources for traders?

A: Yes, GRAND FT Market offers educational tools such as a help center, trading academy, market news, price tables, and a market calendar to assist traders in their learning journey.

Q: How can I contact the customer support of GRAND FT Market?

A: You can contact GRAND FT Market's customer support through email at gft-uae@grandftmarket.com. Online chat support is not available.

News

“This broker is a big Scammer"  victim stated

Exposure“This broker is a big Scammer" victim stated

2023-04-11 19:39

Maharashtra user from India Complaint against Grand FT Market regarding a withdrawal issue.

WikiFX
2023-04-11 19:39
Exposure
“This broker is a big Scammer"  victim stated

User Reviews

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Comments

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kiran8516
6-12months
Big scammer, i bought FTX autorobot they opened account in grandFT, now both are not responding, grandfFT is not giving withdraw and FXT also not responding both companies from Dubai. scam companies. i have lost 1000$ from both scammers.
2023-05-25 18:16
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0
1
蚂蚁
more than one year
An excellent brokerage with a tight-spreads, great execution. I love how smooth the broker is. Anyway, a great broker that deserves you give it a try.
2023-02-28 12:26
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0
0
战洲
more than one year
This platform’s cent account is very suitable for those beginners who don’t want to risk too much. Besides, good news is that this broker promises that it doesn’t charge any inactivity fee. I’ve tested its demo account for over two weeks, and it did give me a good impression. Guys, I am gonna open a real one, and will share my trading experience with you later!🍻
2022-12-01 16:19
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0
0
FX1089805244
more than one year
GRAND FT Market offers a variety of account types to choose from, as well as demo accounts, but only for 15 days. By contrast, most brokers typically offer demo accounts for up to a month or even more.
2022-12-01 16:12
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