General Information & Regulation
Gallen Capital, a trading name of Gallen Capital Limited, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines with registration number 04072377. The broker claims to provide its clients with 8,000+ tradable financial instruments with leverage up to 1:500 and floating spreads from 0 pips on the MT4 and MT5 trading platforms, as well as a choice of three different live account types and 24/5 multilingual customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Gallen Capital does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.14/10. Please be aware of the risk.
Market Instruments
Gallen Capital advertises that clients can trade or invest in 8,000+ trading instruments including spots, CFDs on indices, commodities, cryptocurrencies, shares, ETFs, and bonds, or purchase shares or exchange-traded funds.
Account Types
Apart from demo accounts, Gallen Capital claims to offer three types of trading accounts, namely Fixed, Standard and Platinum, as well as Islamic accounts. The minimum initial deposit amount is extremely high-$1,000 for the Fixed account, while the other two account types have much higher minimum initial capital requirements of $5,000 and $20,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The maximum leverage provided by Gallen Capital is up to 1:500. 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 & Commissions
Gallen Capital claims that the spread and commission vary depending on account types. For instance, clients on the Fixed account can experience fixed spreads from 0.5 pips and a commission of $5 per lot, the Standard account has floating spreads from 0.3 pips and a $5 per lot commission, while only the Platinum account members can enjoy floating spreads from 0 pips and no commission charged.
Trading Platform Available
Platforms available for trading at Gallen Capital are MT4 and MT5 for PC, Mac, Mobile and Web Trader. 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
Gallen Capital says to accept deposits via Credit/debit cards like Visa and MasterCard, Bank Transfer, Neteller, Skrill, PayTrust, NganLuong.vn, dragon pay, fasapay and ZOTAPAY and withdrawals with credit/debit cards, payment wallets including Neteller and Skrill, online banking and bank wire transfer. The minimum initial deposit requirement is said to be $100 while opening an account requires at least $1,000. There are no deposit and withdrawal fees charged. Bank Transfer, dragon pay and ZOTAPAY deposits require one business day to be processed, while other deposits are instant.
Customer Support
Gallen Capitals customer support can be reached by telephone: +41 (44) 26-242115, email: support@gallencapital.com or send messages online to get in touch. Company address: Paradeplatz 8 8070 Zurich.
Risk Warning
Online trading involves significant 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.
