By opening the cryptocurrency-based account, traders can also speculate the price movements of BTC, ETH, and USDT along with the outcomes on forex and CFD trades. The broker can be considered safe for South African traders but we found the spreads to be slightly higher than some other forex brokers in South Africa. The spreads are slightly higher for currency pairs but are impressive for trading CFDs on cryptocurrency crosses. They also offer ZAR based account which can be a major advantage for South African traders. The number of trading instruments is decent while bonus offerings are very attractive.
Does gt.io offer ZAR base currency Account?
- These measures include maintaining segregated accounts for clients’ deposits at highly reputable banking institutions.
- However, to get started with them, they at first offer a demo account on trial basis.
- It cannot be said until when these offerings will end but deposit bonuses are much better than other regulated competitors in South Africa.
- It is a privately owned firm and it is not affiliated with any banking firm, nor is it listed on any stock exchange.
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. In addition to its head office outside Durban, South Africa, Global GT also has an offshore branch registered in the Seychelles. It’s worth noting, however, that although both branches of the broker are regulated per se, the regulation in the Seychelles is far more relaxed than in traditional “onshore” jurisdictions. As a result, things like protection of client funds in the event of a bankruptcy may not be as good for clients trading under the offshore branch as it is for those trading under the South African branch. For each deposit made they offer a 30% deposit bonus up to a maximum limit of $70,000 per account. These bonus offerings are quite lucrative and much better than the majority of the forex brokers in South Africa.
gt.io Accounts
Gt.io was launched in 2020 and allows traders to trade with cryptocurrencies as base currency along with traditional fiat currencies. We compare their fees, safety, support & other features in comparison to other similar regulated brokers. FXGT.com is a forex and CFD trading platform that offers clients access to a wide range of financial instruments including forex, cryptocurrencies, commodities, stocks and indices.
Updated Review For GT Group And Its Offshore Broker Schemes With A Green Compliance Rating.
To achieve this, the company has adopted a comprehensive order execution policy that ensures all orders are executed at the best possible prices, without any undue delays or slippage. This commitment to transparency and fairness in trading practices further solidifies FXGT.com’s position as a trustworthy online broker. 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. These policies require clients to provide identification documents during account opening to verify their identity, ensuring a secure and transparent trading environment. These features, combined with FXGT.com’s renewed commitment to empowering traders with choice, access, and trust, make it a strong contender in the online brokerage industry. The platform is very intuitive and easy to navigate, even for those who are new to trading.
GT IO review and ratings
This user-friendly design is essential for both novice and experienced traders who need to access information quickly and efficiently. Yes, gt.io offer ZAR base currency account to South African Trader with several benefits. Right after opening of your account, you will be facilitated with the services like trading of money, managing it as well as transferring of money with all the relevant reports are provided to your personal account. Traders can transact through 3 cryptocurrencies namely BTC, ETH, and USDT with no additional charges. The processing time is less than 30 minutes for a deposit while withdrawals through cryptocurrencies can take up to 24 hours. FinTelegram is a cyber finance intelligence platform focused on exposing financial crime, regulatory violations, and high-risk investment schemes.
They are a hybrid regulated broker that offers fiat as well as crypto based trading accounts. Their spreads is as low as 1.4 pips on major like EUR/USD, support is good & bonus offers are attractive. Read to check our honest review and opinion on GT.IO for South African traders. According to our review, the standard trading account is fairly suitable for South African traders due to the availability of ZAR based account. The cryptocurrency based trading account is a unique and fruitful feature for a regulated broker that gives gt.io the upper hand over many regulated brokers in South Africa.
Trading FeesNo commission is charged for executing trade orders as the only trading fees incurred to traders is the spread. Gt.io charges floating spread across all the available trading instruments starting from 1.4 pips per lot. There are several easy peasy ways to deposit your funds in your live trading account along with the facility of no processing fees additionally. 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. Yes, gt.io is regulated by the FSCA in South Africa and offers a wide range of trading instruments and a ZAR base currency account to South Africans, which makes them a reliable broker. The spreads on the cryptocurrency pairs were found to be much lesser than many of the regulated brokers in South Africa.
The very 1st thing to be concerned about while reviewing or deciding to trade with any broker is checking its authenticity and licenses along with the regulatory obligations. All those brokers which are properly regulated can be traded with and invest in as they are safe and secure, on the other hand, we would recommend you to be cautious and avid offshore brokers. Our reviews found that the GT Group offshore retail brokers do not accept clients from Europe or North America. In this respect, we cannot identify any regulatory issues for the jurisdictions of these regions. However, the regulatory situation in Asian countries seems questionable to us. Moreover, FXGT.com is committed to providing its clients with a fair trading experience.
In summary, it’s pretty clear to us that Global GT has taken the recent wave of crypto trading seriously by integrating this new universe with the existing world of stocks and forex pairs. We believe their “hybrid broker” approach is pretty unique and original, and that it could open up many new opportunities for traders looking to diversify their exposure. Unfortunately, this broker has not made any phone numbers to customer support available on its website. Instead, clients who need support are asked to contact the broker either via live chat, email or a message form on the website. Additionally, we should mention that working hours for the broker’s support team are missing from the website, which makes us doubt that 24 hour support is really available here. The offshore broker schemes are operated by a group of companies, including the FSCA-regulated GT IO Markets (Pty) Ltd.
- The very 1st thing to be concerned about while reviewing or deciding to trade with any broker is checking its authenticity and licenses along with the regulatory obligations.
- All those brokers which are properly regulated can be traded with and invest in as they are safe and secure, on the other hand, we would recommend you to be cautious and avid offshore brokers.
- They are a hybrid regulated broker that offers fiat as well as crypto based trading accounts.
- 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.
Web Trading Platform
Although gt.io is a newly launched broker but it can gt io markets be considered safe for South African traders due to top tier FSCA regulatory license in South Africa. FXGT.com’s website is designed with a clean and modern aesthetic, which makes navigation relatively straightforward. The layout is intuitive, with clearly labeled tabs and sections that allow users to find what they’re looking for with ease.
