GTCM CFD Broker Review

Judging by the fact that most trader feedback on GTCM is in Italian, and that the three languages supported by the GTCM website are English, Spanish and Italian, it is indeed safe to assume that we are dealing with an Italian-focused brokerage here.

Overview

Unlike some of the brokers we’ve already reviewed on these pages, GTCM is not really a massive, global brand yet. It seems to be a much more modest operation, with regional ambitions. The fact however that the company behind the brand is Depaho Ltd., the same one behind Tao Trade and FXGM, means that this impression may be a false one.

Its regulatory profile is a good indicator in this regard. Even though it is regulated and licensed to operate in South Africa too, its focus is obviously on the EEA, more precisely on the Southern EEA states. The main regulatory body behind GTCM is Cyprus’ CySEC. Registered as a Cyprus Investment Firm (CIF), GTCM is the possessor of CySEC license #161/11. The operation is a member of the Investor Compensation Scheme, which means that its clients are protected against sudden bankruptcy as well as other catastrophic situations which may result in the financial meltdown of the brokerage.

Depaho Ltd. Is located in Nicosia, Cyprus. Full documentation regarding the types of activities the brokerage is legally entitled to perform, is available at the official GTCM website. As already mentioned above, Depaho Ltd. is also licensed by South Africa’s FSB (under auth. number: 47709). This means that it can provide financial services to South African residents and to all those who fall under the jurisdiction of the FSB, one way or the other.

To round out its regulatory profile, GTCM has also registered its operation with a number of other national agencies. Thus, it can peddle its services in compliance with the highest regulatory standards, in Switzerland and Ukraine too, in addition to EU member states and South Africa.

Italy’s CONSOB is one of the agencies which apparently gave their blessings to GTCM’s operations. Spain’s CNMV is also on that list, as is Sweden’s FI and Finland’s FIN-FSA. Hungary’s MNB has also registered the brokerage, together with Germany’s BaFIN, the UK’s FCA and a number of others.

Why would you want to take your trading to GTCM though?

The broker offers 24/6 support and a wealth of customer appreciation schemes, which does indeed add a whole new dimension to trading at the site.

Account Types

Those who deposit between $200 and $9,999 enter the Discovery plan, which offers a beginners’ course for free, a free eBook, free training and access to a personal account manager. The maximum available leverage on this level is 1:200.

The Silver account is for those who deposit between $10k and $30k. Such traders gain access to Trading Central for a week and they get spread discounts on some of the featured commodities.

The Gold account requires a minimum deposit of $30k. In addition to everything covered by the Silver account, it also offers spread discounts on indices and some major FX pairs.

The Premium account calls for a minimum deposit of $50k, and it brings still more discounts into the mix.

The VIP account is for those who can afford to invest $100k. Through this account type, GTCM traders gain access to Trading Central for 4 whole months.

Trading Platform/Software

Trading platform-wise, GTCM have decided to keep things extremely simple. Their flagship platform is the WebPROfit one, which is a no-download, browser-based solution, that can be accessed from anywhere, at any time.

In addition to the WebPROfit platform, GTCM also feature Android and iOS apps, which make mobile trading possible. These mobile platforms support all the features available in the full WebPROfit one.

Apparently, GTCM used to support MT4 as well. These days, MT4 is no longer mentioned on the Trading Platforms page of the site though.

Deposit Options

GTCM trading accounts can be funded through credit- and debit cards, as well as through bank wire. Neteller, Skrill and Safecharge are also accepted.  

Markets

The brokerage offers Forex, Stocks, Indices and Commodities-based CFDs. In total, more than 200 tradable assets are available. No cryptocurrencies are supported for the time being.

Customer Support

GTCM customer support can be contacted through email ([email protected]) and phone (+357 22 300 500). Various other toll-free phone numbers are available too, as well as WhatsApp.

Safety

From the point of view of funds-safety, GTCM is a very decent destination indeed.

Final Thoughts

Though not as prestigious as some of its sister-brands, GTCM is an attractive brokerage for those residing within its regulatory jurisdiction.

GTCM Overview
Regulation: CySEC