Getting the most out of your foreign exchange, or forex, market trading experience is a lot easier when you sign up with a reputable and reliable forex broker. Sifting through the many different brokers that do business nowadays can be daunting; to make things a bit easier, we’ve taken a closer look at one of the most popular and well-known forex brokers: Global Forex Trading, or GFT.
When it was founded back in the year 1997, Global Forex Trading, or GFT, was among the first forex brokers to offer its services to retail customers. From the very start, GFT was headquartered in Ada, Michigan; incredibly, within ten years it would expand its reach to include offices and branches around the world. Today, GFT’s customers hail from over 120 different countries, helping to make it one of the most successful and relied upon forex brokers on the planet.
In addition to its headquarters in Michigan, GFT has two other branches in the United States: one in New York City, and one in Chicago. GFT is not restricted to the boundaries of the U.S., though, and has offices in several other countries. Indeed, GFT offices are located in such diverse places as Dubai, London, Sydney, Tokyo and Singapore in order to attend to the needs of its customers around the world more easily and efficiently.
GFT holds an impressive number of certifications and is regulated in every country that it has an office in. Customers who insist on trading with a forex broker that meets and exceeds the rigorous demands of various regulatory bodies can’t do much better than GFT, which is registered with:
- The Commodities Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM)
- The National Futures Association (NFA) in the United States
- The Financial Services Agency (FSA) in Japan
- The Australian Securities and Investments Commission (ASIC)
- The Monetary Authority of Singapore (MAS)
- The Dubai Gold & Commodities Exchange (DGCX)
- The Dubai Multi Commodities Centre (DMCC)
Contact Information At A Glance
Should you decide to do business with GFT, it’s wise to keep all of the relevant contact information handy at all times. If an issue or problem should arise, you’ll be able to have it resolved more quickly and easily. Basic contact information for GFT includes:
- Toll-Free Phone Number: 1 (800) 465-4373
- Local Phone Number: 1 (616) 956-9273
- Direct Dealing Desk: 1 (877) 465-0787
- Email Support: firstname.lastname@example.org
- Online Support/Live Chat: www.gftforex.com/contact
Vital Trading Information About GFT
GFT offers an impressive suite of trading software solutions, allowing traders of all kinds to find the option that is right for them. Whether it’s the desktop-based Dealbook 360, the web-based Dealbook WEB or the mobile-based Dealbook Mobile, traders can take advantage of GFT’s intuitive and user-friendly foreign exchange market trading features with ease. One-click trading, streamlined ordering, free charting tools, free currency news and several other exciting features are included with all of GFT’s software offerings.
Beyond the software, though, there are many other critical things to be aware of when it comes to GFT; learn more about them below.
Minimum Deposit Amounts
A $200 minimum initial deposit is required when opening a new account with GFT. Subsequent deposits can be made via credit card, debit card or echeck for a minimum of $50; PayPal deposits can be made for a minimum of $100.
Setting up a GFT account online is a snap. After filling out and submitting a brief application – which should take you no more than five or ten minutes – you have a short wait while it is being processed. Thereafter, you make your initial deposit and/or begin your free trial with a GFT practice account – it’s as easy as that.
One of the best ways to get a feel for what GFT – and forex trading in general – is all about is by signing up for a free practice account. Upon signing up, you are given a universal login to all of GFT’s trading platforms; your demo account is customized based on your specific criteria.
Once you become a GFT customer and begin trading on the foreign exchange market with them, you gain access to a higher level of customer service through their direct dealing desk. Whether the website is giving you trouble or you’re not receiving confirmations for your orders, you can dial the dealing desk directly and receive immediate assistance.
Leverage limits at GFT are in line with those of most of the other major foreign exchange market brokers. For major currencies, a maximum leverage of 100:1 is in place. For exotic currencies, a maximum leverage of 25:1 is enforced.
Trailing stops are allowed with GFT. As a popular risk management option, trailing stops are pretty standard with most of the major online forex brokers. Using trailing stops on the Dealbook 260, Dealbook WEB and Dealbook Mobile platforms is as easy as a couple of clicks of the mouse button.
With more than 120 pairs to choose from, it’s easy to find a spread that will work for you with GFT. Spreads as low as one pip are available, enhancing your odds of raking in some serious profits. Of course, familiarizing yourself with the spreads for major and less-major currencies is the best way to be successful in any forex trading endeavor. Some of the lowest spreads available include those for EUR/USD, EUR/GBP, USD/JPY and EUR/CHF.
The Bottom Line
With some of the most attractive trading platforms in the industry, an impressive array of conformance with major regulatory bodies, offices that span the globe and very competitive trading spreads, GFT is a natural choice for forex traders of all caliber. Mobile, web-based and desktop-based software choices make it easy for just about anyone to get comfortable with GFT. Whether you’re just dipping your toe into the foreign exchange market or have been at it for some time, GFT is a solid option.