Risk Management Index
The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.
Current Status:Suspicious Clone
License Type:Financial Service Corporate
Regulated in Country/AreaSouth Africa
Regulatory License No.：46315
Email Address of Licensed Institution :--
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :16TH FLOOR,25 OWL STREET AUCKLAND PARK JOHANNESBURG 2092
Phone Number of Licensed Institution :010 014 2101
Most visited countries/areas
The data are from WIKI Research 2021.04.22 updated
WikiFX prompts you
Please choose wisely! Please avoid unnecessary lossContinue
WikiFX only provides the legal URL of the platform published by the regulatory website.
WikiFX will not disclose your personal information to third parties.
In order to prevent users from being spoofed by phishing websites, fake URLs or domain name hijackings, WikiFX doesnt provide the content though this app.
The use of any service by the client through the official website access channel provided by WikiFX is a personal behavior. Please ensure that you have undergone sufficient preparation and risk management before use.
Insufficient data samples
Insufficient data samples，Browsing is not supported temporarily
You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'
Basic Information & Regulation of GT247
GT247 is an online Forex and CFD brokerage firm operating since 1998 and headquartered in Johannesburg, South Africa. GT247 offers investors access to over 250 trading instruments through its powerful MT5 trading platform. GT247 is a subsidiary of Purple Group Ltd regulated by the South African Financial Sector Conduct Authority (Regulatory Number: 46315).
Safety Analysis of GT247
GT247 claims to be regulated by the FSCA in South Africa. However, in reality, it is its parent company Purple Group Ltd that is regulated, and GT247 itself is not regulated in any way, which means that the safety of clients' funds and trading activities on the GT247 platform are not actually protected. Therefore, it is best for investors to stay away from this GT247 brokerage firm.
Markets Instruments of GT247
Investors can trade over 250 financial instruments on the GT247 platform, mainly Forex currency pairs, indices, stocks, commodities, cryptocurrencies, and CFDs.
Accounts & Leverage
GT247 only offers investors a standard account with a minimum deposit of $1 and maximum trading leverage of 1:80.
Spreads & Fees of GT247
After testing on a demo account, the spread on EURUSD is 2.3 pips to 2.4 pips, much higher than the industry standard. Additionally, GT247 charges a monthly fee of $10 for inactive accounts that have not traded within 12 months.
Trading Platforms Available of GT247
GT247 offers investors the most advanced MT5 trading platform, which not only contains all the positive features of MT4 but also equipped with some new features, such as charts of up to 100 different instruments displayed simultaneously, three chart types displayed in up to 21 time-frames. Besides, it also supports the building of automated trading strategies through EA's with the MQL5 programming language and the ability to copy the trading of other seasoned traders. GT247 MT5 is available for desktop, web, and mobile app versions.
Deposit and withdrawal
GT247 supports traders to withdraw and deposit funds to their investment accounts via bank transfer, credit/debit cards.
Pros & Cons of GT247
The main advantages of gt247 are:
1. Wide range of trading instruments
2. MT5 trading platform
3. Availability of demo accounts
4. No minimum deposit limits
5. Free educational resources and tools
The main disadvantages of gt247 are:
1. Not subject to any regulation
2. One type of account only
3. High spreads
4. Fewer options to deposit and withdraw funds
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.