GTC

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.

General Information

GTC, a trading name of GTC Global Trade Capital Limited, is a global finance forex brokerage company registered in the United Arab Emirates. It is regulated by the Securities and Commodities Authority (SCA), offshore regulated by Vanuatu Financial Services Commission (VFSC), and generally registered by National Futures Association (NFA).

One of GTC's strengths is its diverse portfolio of trading instruments. Clients have access to extensive market coverage that includes not just Forex, but also stocks, precious metals, and energy commodities. This broad selection allows traders to diversify their portfolios and explore different market segments all under one roof.

GTC offers two main types of trading accounts: Standard and Professional. Both of these account types have been designed to cater to varying levels of trading expertise and investment capacity. What's more, the barrier to entry has been kept relatively low, with a minimum deposit requirement of just $30 for both account types, making it accessible for beginners and casual traders. Aside from live trading accounts, clients can also use demo accounts to test the trading environment and practice their trading skills.

In terms of trading platforms, GTC provides its clients with a choice between industry-leading solutions: MetaTrader 4, MetaTrader 5, and cTrader. These platforms are known for their advanced charting tools, algorithmic trading capabilities, and user-friendly interfaces. Additionally, GTC also supports social trading platforms, enabling traders to learn from each other and share strategies.

When it comes to customer service, GTC provides multiple channels of communication including email, phone, and online chat, ensuring that clients can reach them with ease whenever they have queries or issues.

Here is the home page of this brokers official site:

Is GTC legit or a scam？

Yes, GTC is a legitimate broker. One of its entities, GTC MULTI TRADING DMCC, operates under the oversight of the Securities and Commodities Authority (SCA) in the United Arab Emirates, holding a regulatory license number 988925.

Furthermore, GTC extends its regulatory coverage through its other entity, GTC GLOBAL TRADE CAPITAL CO. LIMITED, which falls under the supervision of the Vanuatu Financial Services Commission (VFSC), under regulatory license number 40354.

Pros and Cons

GTC is an established forex broker registered in the United Arab Emirates. It offers a diverse range of trading instruments, accessible account options with low minimum deposits, and support for popular trading platforms. GTC facilitates social trading and provides 24/7 customer support. However, traders should consider the limited trading instrument range and conduct due diligence regarding the regulatory framework.

Market Instruments

GTC offers a diverse range of trading instruments, catering to the varied interests and strategies of its clients. Traders have access to a comprehensive selection of markets, including major and minor currency pairs in the forex market, popular cryptocurrencies such as Bitcoin and Ethereum, a wide range of energy commodities such as crude oil and natural gas, a variety of stocks representing major global companies, and precious metals like gold, silver, and platinum. This extensive offering allows traders to explore different asset classes and diversify their portfolios, enabling them to take advantage of various market opportunities across multiple sectors.

Account Types

GTC offers a range of trading account options, categorized into two main categories: Standard accounts and Professional accounts, each with its own minimum deposit required. Within the Standard category, traders can choose between standard and standard cent accounts, catering to different trading preferences and capital sizes. Only $30 can open both accounts, which is more suitable for traders who prefer small-size trading.

On the Professional front, GTC provides multiple account options such as Raw spread, Zero, and Pro accounts, requiring a higher minimum deposit starting from $3000.

It's important to note that while standard cent accounts provide access to two classes of trading instruments, specifically forex and metals, the other professional accounts and standard accounts offer a broader selection of trading instruments, not just forex and metals, but also energies, stocks, and indices.

In addition to live trading accounts, GTC recognizes the importance of providing a risk-free environment for clients to practice and refine their trading skills. To facilitate this, they offer demo trading accounts that allow traders to experience the trading environment and practice their strategies without risking any real money.

How to open an account？

1. Visit the official website of GTC: Begin by accessing the official website of GTC through your preferred web browser. You can do this by typing in the URL provided by GTC or by conducting a search for their official website.Click on the “Open Account” or “Open Live Account” button:

1. Fill in the required information accurately and completely in the registration form: On the account registration page, you will be presented with a form that requires you to provide necessary information. This may include personal details such as your full name, email address, date of birth, contact information, and sometimes your country of residence. Take your time to fill in the form accurately and ensure that all the required fields are completed.

1. Accept the terms and conditions: Before proceeding with your account application, you will likely encounter the terms and conditions of GTC. It is important to carefully read and understand these terms and conditions. If you agree to abide by them, you will usually find a checkbox or button that allows you to accept them. Check or click on this option to proceed.

2. Submit your application and await confirmation from GTC: After filling in the required information and accepting the terms and conditions, submit your application by clicking on the “Submit” or “Register” button. Your application will be sent to GTC for review and processing. At this stage, you will need to be patient and await confirmation from GTC regarding the status of your account opening process. This confirmation may be sent via email or through the account portal on their website. It may include further instructions or login credentials for accessing your trading account.

Leverage

GTC empowers traders with significant trading leverage, offering a maximum leverage of up to an impressive 1:500. This generous leverage ratio provides traders with the opportunity to amplify their trading positions, potentially magnifying both profits and losses. With such substantial leverage at their disposal, traders can access a larger portion of the market with a comparatively smaller investment, enhancing their trading potential and diversifying their strategies. However, it's important for traders to exercise caution and employ effective risk management techniques as higher leverage also entails increased exposure to market fluctuations and potential volatility.

Spreads & Commissions

When considering trading costs, it is essential to evaluate both spreads and commissions. GTC offers different pricing structures depending on the type of trading account. Standard accounts do not charge any commissions and provide competitive spreads starting from 0.3 pips.

On the other hand, professional accounts feature tighter spreads, beginning at 0.0 pips. However, it's important to note that professional accounts may involve commission charges. The Raw spread account imposes a commission of up to $3.50 per lot on each side, while the zero account incurs a commission starting from $0.2 per lot on each side. The pro account, in contrast, does not entail any commission charges.

Non-Trading Fees

In addition to trading-related costs, it's important to consider the non-trading fees associated with this broker. While specific fee structures may vary, here are some common non-trading fees that traders may encounter with GTC:

• Deposit Fees: GTC may charge fees for depositing funds into your trading account. These fees can vary depending on the payment method used, such as bank transfers or credit/debit card transactions.

• Withdrawal Fees: When withdrawing funds from your trading account, GTC may impose withdrawal fees. These fees can vary based on the withdrawal method chosen, such as bank transfers or e-wallets.

• Inactivity Fees: GTC may have inactivity fees in place. These fees are typically charged if there is no trading activity or account login for a certain period of time. The specific duration and amount of the inactivity fee can vary depending on the broker's policies.

• Currency Conversion Fees: If you deposit or withdraw funds in a currency that is different from the base currency of your trading account, GTC may apply currency conversion fees. These fees cover the costs associated with converting funds between different currencies.

Trading Platform

GTC offers a selection of robust and widely recognized trading platforms, ensuring that traders have access to advanced tools and features to enhance their trading experience. Among the trading platforms provided by GTC, clients can choose from the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are renowned in the industry for their user-friendly interfaces, comprehensive charting capabilities, customizable indicators, and advanced order management functionalities. With the availability of these platforms, traders can execute trades efficiently, access real-time market data, implement various trading strategies, and utilize advanced technical analysis tools.

Trading Tools

In addition to offering various trading platforms, GTC provides a wide range of valuable trading tools and resources to support traders in their decision-making process.

These tools include an Economic Calendar, which highlights important economic events and announcements that may impact the financial markets. Furthermore, GTC offers a Newsletter service that keeps traders updated with the latest market insights, analysis, and expert commentary. To ensure traders have access to real-time information, GTC also offers a Latest News feature that aggregates news from various sources. In addition, GTC provides an Economic News Feed, delivering timely and relevant economic news releases directly to traders.

Social Trading

GTC recognizes the growing popularity and value of social trading, and therefore provides support for social trading platforms. Social trading platforms enable traders to interact, share ideas, and even copy the trades of successful traders within a community. Through social trading, traders can engage in a more collaborative and interactive trading experience, tapping into the power of shared knowledge and collective intelligence.

Deposit & Withdrawal

Deposit

GTC facilitates deposits through a variety of payment channels, including bank transfers through reputable institutions such as FAB (First Abu Dhabi Bank) and Maybank, providing traders with traditional and reliable means of depositing funds. Additionally, GTC accepts major credit and debit cards such as VISA and MasterCard, along with the Foloosi payment gateway, enabling traders to initiate deposits easily using their preferred cards. GTC also supports popular e-wallet payment methods such as Skrill, Neteller, FasaPay, CashU, Perfect Money, and Alipay.

While the typical deposit processing time claimed by GTC is within 30 minutes, it's important to consider that the actual processing time may be subject to various factors, including the payment method used, bank processing times, and other external variables.

Withdrawals

The withdrawal methods are almost the same as deposit methods, but withdrawal support ICBC , which is available in both CNY, and USD..withdrawal through bank transfer usually takes 1-3 working days, and withdrawal through credit & debit cards and e-wallet payment methods usually takes 24 hours, and if you want to withdraw through alipay, the processing time is within 24-48 hours.

Customer Support

The GTC customer support can be reached 24/7 through email: support@gtcup.com, telephone: 800 667788, live chat or send messages online to get in touch, as well as Skype, WhatsApp and some social media platforms like Facebook, Twitter, Instagram, YouTube and LinkedIn. Company address: The Regal Tower, Business Bay, Dubai United Arab Emirates.

Additionally, to address common queries and provide a convenient resource for traders, GTC offers a dedicated FAQ (Frequently Asked Questions) section on their website.

Educational Resources

GTC offers some educational resources, ensuring traders have access to valuable insights and information to support their trading endeavors.

Webinars: GTC hosts webinars, which are online seminars conducted by industry experts and experienced traders. These webinars cover a wide range of topics, including trading strategies, technical analysis, risk management, and market insights. Traders can participate in these webinars to expand their knowledge, learn new techniques, and stay up-to-date with the latest market trends.

Newsletters: GTC provides newsletters that deliver regular updates and market analysis directly to traders' email inboxes. These newsletters often include market news, trading tips, and educational content to help traders stay informed about market developments and make informed trading decisions.

Blogs: GTC maintains a blog section on their website, featuring articles written by market experts and experienced traders. These blog posts cover a wide range of topics, including trading strategies, market analysis, trading psychology, and educational articles. Traders can explore these blog posts to gain valuable insights, learn new concepts, and expand their understanding of the financial markets.

Educational Materials: GTC may offer additional educational materials such as e-books, guides, or video tutorials that cover various aspects of trading, including technical analysis, fundamental analysis, trading psychology, and risk management. These educational materials provide traders with in-depth information and practical guidance to enhance their trading skills and knowledge.

Conclusion

In conclusion, GTC is an established forex broker registered in the United Arab Emirates. It offers a diverse range of trading instruments, accessible account options with low minimum deposits, and 24/7 customer support. The broker provides popular trading platforms such as MT4, MT5, and cTrader, along with support for social trading. However, traders should be aware of the potential limitations in terms of available instruments compared to other brokers and conduct thorough research regarding the regulatory framework and associated risks. It's important for traders to consider their individual needs and preferences before making a decision.

Frequently Asked Questions (FAQs)