General Information & Regulation
GCX PRIME, a trading name of GCX PRIME Limited, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:1000 and variable spreads from 0.1 pips on the MT5 for Windows, MT5 for Android and MT5 for iOS trading platforms, as well as a choice of four different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that GCX PRIME does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.10/10. Please be aware of the risk.
Market Instruments
GCX PRIME advertises that it offers access to a wide range of trading instruments in financial markets, covering over 60 forex currency pairs, CFDs, spot metals, indices and over 180 share CFDs.
Account Types
Apart from demo accounts, GCX PRIME claims to offer four types of trading accounts, namely Micro, Standard, ECN and Pro. The minimum initial deposit amount is only $5 for the Micro account, while the other three account types have much higher minimum initial capital requirements of $100, $1,000 and $10,000 respectively.
Leverage
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Micro account can enjoy the maximum leverage of 1:1000, the Standard account holders have the leverage of 1:500, while the leverage on the ECN and Pro account is 1:200 and 1:100 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
GCX PRIME claims that different account types can enjoy quite different spreads. Specifically, the spread on the Micro account starts from 1.9 pips, the Standard account has spread from 1.4 pips, the ECN account has spreads from 0.5 pips, while only the Pro account holders can enjoy spreads from 0.1 pips.
Trading Platform Available
Platforms available for trading at GCX PRIME are MT5 for Windows, MT5 for Android and MT5 for iOS. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The minimum initial deposit requirement at GCX PRIME is said to be only $5, while there is no mention of what the minimum withdrawal amount is. Also, the broker says nothing about the acceptable deposit and withdrawal methods.
Customer Support
GCX PRIMEs customer support can be reached Monday - Friday: 08:00 - 22:00 by telephone: +44 2080894849, email: contact@gcxprime.com, support@gcxprime.com or send messages online to get in touch. You can also follow this broker on social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Company address: No: 2352, 182-184 High Street North, East Ham, London E6 2JA - United Kingdom.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
2023-02-17 11:41
