Global GT

GENERAL INFORMATION AND REGULATION

Global GT is a forex broker company in South Africa.

A Forex broker like Global GT provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies. Retail currency traders use these broker companies to gain access to the 24-hour currency market for speculation purposes.Global-GT is a newly established brand that officially started in 2020, yet is a part of known GT Group that successfully operates in South East Asia through the brands FXGt and CryptoGT.

While its new brand Global-GT dedicated to focusing on the world and international proposals with an expansion approach through an established operation in South Africa. South Africa now is a growing trend in the Forex industry where more brokers opening its entities due to good regulation, availability of high leverage and a great way to global expansion.

Moreover, Global-GTapproach stands further as it is the First regulated Hybrid Broker and STP Execution model via NDD while providing necessary tools and a professional approach to trading.

Global GT offers traders access to more than 500 financial instruments across different asset classes, including forex, cryptocurrencies, indices, metals, energies, and shares, with the use of the popular MetaTrader 5 trading platform for desktop, web, and mobile devices. Traders also get an edge with a very high maximum leverage of 1:1000 and two deposit bonuses, which can boost beginner traders if they understand the terms and conditions and use them properly.

GT IO Markets is a registered company in South Africa, with Registration Number 2015 / 059344 / 07 and has its registered address at Aurora Drive, Liberty Life Building 21, Office 125, 1st Floor Umhlanga, Kwa-Zulu Natal South Africa, 4301. GT IO Markets (Pty) Ltd is regulated by the Financial Sector Conduct Authority under the FSCA FSP Number 48896. GT IO Markets (Pty) Ltd acts as the intermediary between the investor and the liquidity provider, the counterparty to the contract for difference purchased by the investor via GT IO Markets (Pty) Ltd.

MARKET INSTRUMENT

Traders are offered a selection of currency pairs, cryptocurrency pairs, and synthetic cryptocurrency pairs. Commodities, Index CFDs, and equity CFDs are also available. The cryptocurrency selection remains above average compared to other brokers, and I like the synthetics as they offer additional trading opportunities with many brokers covering major cryptocurrencies do not offer. The rest of the asset selection, especially commodities, remains below average in terms of diversity. However, most traders will find the range of assets available more than enough for their trading needs.

ACCOUNT AND LEVERAGE

Global GT offers the following account types: Cent accounts, Mini accounts, Standard accounts, and ECN accounts, as well as an Islamic or swap-free account. Some prefer the ECN account the most of all the account types on offer at Global GT as it provides the lowest trading costs, All GT Global accounts require only a $5 minimum deposit amount to start trading, except the ECN account which requires a $250 deposit, but traders can then enjoy the lowest spreads. All four account types offer maximum dynamic leverage of 1:1000.

Accounts can be opened in a few different currencies including USD, EUR, BTC, ETH, XRP, USDT, ZAR (even Cryptos as a base one), allowing easy money transfers to or from the account and avoiding conversion fees.

Cent accounts require a minimum of $5 deposit, allows leverage up to 1:1000, spreads from 1 pip, and $0 commission.

Mini accounts can be opened with a minimum of $5 deposit, allows leverage up to 1:1000, spreads from 1 pip, and does not charge commission.

Standard accounts require a minimum of $5 as deposit, offer leverage up to 1:1000, spreads from 0.5 pips and no commission charged.

ECN accounts need a minimum of $250 deposit, allows leverage up to 1:1000, spreads from 0 pips, and charge a $10 commission.

The Global GT account type that you choose will depend on your trading strategy. Traders who use strategies that require tight spreads may look to open an ECN account but if you are not too concerned with the spread, you may consider a commission-free account.

TRADER SECURITY

Trading with a well-regulated broker will strongly limit the potential for fraud and malpractice. I always recommend traders ensure they choose a regulated and verify the regulatory details by checking the quoted regulatory license within the regulators database. Global GT offers clients the ability to trade under one of two regulated subsidiaries that maintain competitive trading environments:it was regulated by Financial Sector Conduct Authority with Regulatory license number: FSP48896. And also regulated by Financial Services Authority with License number: SD019. Client deposits remain segregated from corporate funds held at Tier1 banks.

SPREADS AND COMMISSIONS

The cost of trading depends on varied factors like commissions, spread, and margins.

Global GT Global GT offers a floating spread or variable spread basis, where the spread is dependent on the market conditions. Global GTs variable spreads start from just 0 pips on the ECN account.

During volatile markets, macroeconomic news releases, and weekend gaps, spreads might widen more than usual which solely depends on the companys liquidity providers.

Global GT spreads are quite competitive and offer a satisfactory solution for the trading of different instruments. Swap fees are added when traders hold overnight positions unless they hold Swap-Free or so-called Islamic accounts.

Non-trading fees may include an inactivity fee of 10$ per month if you do not use your trading account for a long time. Global GT does not charge deposit or withdrawal fees, depending on the region you registered to.

TRADING PLATFORM AVAILABLE

Global GT offers clients the out-of-the-box MT5 trading platform. It features a better user interface and improved trading functions, though it lacks backward compatibility with MT4, which is a shame. MT5 supports automated trading solutions, and Global GT has no restrictions on trading strategies. New traders without existing trading solutions, EAs, and custom indicators will have no problem with this.

DEPOSIT AND WITHDRAWAL

Traders may use cryptocurrencies and Skrill as deposit and withdrawal methods. Global GT intend to add credit/debit cards, SticPay, and Neteller soon, which will be welcome as the choice of methods right now is not extensive. The minimum amounts and processing times depend on the payment processor. While Global GT does not charge internal fees, third-party payment processor costs apply with all options.

CUSTOMER SERVICE

Global GT offers 24/7 multilingual customer support via e-mail, webform, or live chat. Live chat is available in Arabic, English, and Spanish. Regrettably, a phone number is not listed, making the live chat the best method of contact. Traders can access it from each page.

Email: support-za@globalgt.com