GTCM Review – What to expect from the broker

GTCM is a CFD Broker that features on its trading platform CFDs on shares, commodities, currencies, indices, ETFs and cryptocurrencies. GTCM is a subordinate company of Depaho Ltd (just like TradeApp and GTCM), a corporation that is regulated and overseen by the Financial Conduct Authority (FCA) in the United Kingdom and in Cyprus by the CySEC. The minimum spread is for EUR/USD 3.0 pips*, real trading is possible with a minimum deposit of $200. The GTCM website is available in English, Italian, Spanish.

What do we cover in our GTCM Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.GTCM.com
  • Leverage: up to 1:30
  • Instruments: CFDs – shares (71), commodities (17), currencies (32), indices (18), ETFs (2) and cryptocurrencies (5)
  • Minimum deposit: $200
  • Demo account: No
  • Methods of deposit and withdrawal: wire transfer, credit and debit cards (Visa, Master card, Maestro), Skrill, Neteller, Paypal

GTCM Trading Platform

The GTCM broker offers its own trading platform called WebPROfit. There is no need to download anything as the platform is web-based – meaning it is possible to use it directly via your web browser. The platform provides a user-friendly interface and easily customizable trading environment. The broker has also its own trading app for mobile devices as well called Mobile PROfit.

GTCM Spreads

As any other CFD broker, GTCM charges a spread fee. For the most current spread charges, please visit the GTCM.com website. Here is a spread comparison table that contrasts GTCM spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
GTCM* 3.0 3.0 3.0 3.0
Plus500** 0.6 0.7 1.1 0.6
IQOption** 3.7 4.4 8.8 5.3

*Spreads recorded on 12.06.2019 at 20:18 GMT, information was taken from the Product Sheet & Costs page that the broker has on its website. **Spreads recorded on 31.05.2019 at 8:23 GMT from the trading platform of the broker.

To sum up the GTCM Review

GTCM adheres to strict regulatory guidelines of the CySEC (No 161/11 ). The number of available trading instruments is solid, the spreads that apply to these assets are, however, quite high. GTCM does not disclose on its website whether they offer a free demo account for practice trading.

GTCM Review – What to expect from the broker
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Michael

Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.
Michael

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