Hybrid refers that it allows trading through fiat as well as cryptocurrency as the base currency gt io markets of the account. A unique thing about trading with Global GT is the synthetic trading pairs that the broker has created, which combines crypto with traditional assets. For example, a trader could choose to trade Bitcoin against the Nasdaq or the Dow Jones index rather than against the US dollar, or even trade Bitcoin against single stocks like Apple and Facebook.
The spread on BTC/USD starts from 1.75 pips per lot while for ETH/USD, it is 0.08 pips per lot. After sign-up, all new clients need to deposit some funds to their account to start trading. With Global GT, this can be done via traditional bank wire transfers, MasterCard, Sticpay, Neteller, Skrill, as well as directly with the cryptocurrencies Bitcoin, Ether, and USD Tether. Note that the minimum deposit amount for bank transfers to Global GT is USD/EUR 100 (ZAR 2,000), while the other funding methods have much lower minimum deposit amounts. Overall, we liked the non-trading fee structure but the trading fees or spreads are slightly higher than many of the regulated forex and CFD brokers in South Africa. However, to get started with them, they at first offer a demo account on trial basis.
gt.io Deposit & Withdrawals
But it is highly recommended for an individual to check the conditions of customer service as well as the terms which are specified for your region and residency. On Trustpilot, GlobalGT and FXGT have 4.6 and 4.2-star ratings, respectively, with corresponding Excellent and Great trust levels. GT Group also includes CySEC-regulated TEC International (Cyprus) Ltd, which operates under the trading name FintecGT. FXGT and GlobalGT are the trading names of the FSA-licensed 360 Degrees Markets Ltd. Until May 2019, he was also the Chief Operating Officer for CySEC-regulated FxNet Ltd.
- In addition to that, it has one more characteristic that since it is the 1st Hybrid regulated Forex Broker, it lets its clients enjoy trade, withdrawals, and deposits in both Fiat and Crypto.
- And although Global GT has been innovative in terms of the trading instruments it offers, the broker has chosen the traditional path when it comes to trading platforms, offering the classic MetaTrader 5 (MT5) as its only platform.
- A unique thing about trading with Global GT is the synthetic trading pairs that the broker has created, which combines crypto with traditional assets.
- Global GT is, to our knowledge, the only provider out there to offer such synthetic trading pairs, and we believe this could be attractive to some traders.
- The customer support service at gt.io is decent as traders can reach out to support executives through live chat but there is no local phone support for traders in South Africa.
IG Markets South Africa FAQs
Their platform is available on both desktop and mobile devices, making it convenient for traders who are always on the go. They have a good regulation having quite less fee with a rapid client response service. Their customers also enjoy the facilities of MT5 trading platforms which lets them trade a better range of financial instruments to further attract new traders and satisfy the current ones. One crucial aspect of any reputable brokerage firm is its reliability as an intermediary between traders and market makers.
Withdraw Money Step By Step
Additionally, they offer a range of educational resources such as webinars, weekly newsletter, educational e-books and video tutorials to help traders improve their skills and stay informed. ForexBrokers.co.za is a broker comparison & education website for South Africans. The only non-trading fees applicable to traders is the inactivity fees but it will only be incurred if no trades are executed for more than 12 consecutive months.
Trading and Investment Tools
These measures include maintaining segregated accounts for clients’ deposits at highly reputable banking institutions. This separation ensures that client funds remain untouched in case of any unforeseen financial difficulties faced by the company. We found gt.io to convenient and efficient in terms of deposits and withdrawals due to the availability of multiple methods, no commission, and fast transactions. Those traders who wish to deposit and withdraw through cryptocurrencies will find it more convenient compared to other regulated brokers in South Africa.
Non Trading FeesThese are the fees that are incurred without executing trades. Since deposits and withdrawal are completely free from the broker’s end, the non-trading fees are minimal at gt.io. GT.IO possesses a wide range of trading instruments in which they are offering includes 48 Forex pairs, 13 Cryptocurrencies, 5 Commodities, 53 Stocks, and 8 Indices. Gradually, over time, you will be able to see the position of these market instruments in terms of trading too. The only area where GT.IO lacks is they do not support future and options’ trading.
They are a newly launched broker incorporated in 2020 and hence, the experience is lesser compared to many regulated forex and CFD brokers in South Africa. Gt.io is part of GT Group, which has been in business for few years now & operate broker brands FXGT & CryptoGT in other countries. The minimum deposit amount is $5 through selected e-wallets like Sticpay, Skrill, etc. The lower cap on deposit amount can differ depending on the method chosen by the traders.
Deposit Options
- This separation ensures that client funds remain untouched in case of any unforeseen financial difficulties faced by the company.
- The minimum deposit amount and processing time of the transactions are different for each selected method.
- They also offer ZAR based account which can be a major advantage for South African traders.
- GT IO group accepts clients from all over the world, excluding USA, Canada, Iran, North Korea, Russia and most of the EEA countries.
- Additionally, FXGT.com employs stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) policies to prevent financial crimes and illegal activities on its platform.
- The company boasts top-tier security measures such as SSL encryption technology which ensures secure transactions while also being fully compliant with KYC (Know-Your-Customer) protocols.
And although Global GT has been innovative in terms of the trading instruments it offers, the broker has chosen the traditional path when it comes to trading platforms, offering the classic MetaTrader 5 (MT5) as its only platform. As most of our readers probably know, this is a platform that has stood the test of time, having been one of the most popular retail trading platforms since its inception in 2010. However, the platform still remains highly relevant today, with for example an unmatched selection of so-called Expert Advisors (trading algorithms) to choose from. Overall, the number of capital markets and trading instruments is decent when compared to other regulated brokers in South Africa. The customer support service at gt.io is decent as traders can reach out to support executives through live chat but there is no local phone support for traders in South Africa. Gt.io is a recently launched STP forex and CFD broker based in South Africa and Seychelles.
For fiat currency deposits, gt.io does not accept local bank deposits from South African banks but traders can transact through credit/debit cards, bank wire transfers, and various e-wallets. The minimum deposit amount and processing time of the transactions are different for each selected method. This means that in case if the account balance depreciates below 0, the negative balance will automatically be converted to 0. We have comprehensively compared every component of fees at gt.io for South African traders.
GT.IO Review CFD Trading Platform Review
Yes, gt.io is an FSCA regulated forex broker that offers a lot of unique features like the crypto-based account. The broker is ideal for those seeking cryptocurrency deposits and withdrawals. The standard trading account can be opened with ZAR, USD, EUR, JPY, BTC, ETH, and USDT as base currencies by the South African traders. It is the first regulated broker in South Africa that allows traders to open an account with cryptocurrencies as the base currency. FXGT.com is an international online trading platform that offers top-notch brokerage services for forex and cryptocurrency trading. Established in 2019, the company aims to provide a seamless trading experience for all users through its state-of-the-art technology, competitive spreads, and swift execution times.
