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.
- The lower cap on deposit amount can differ depending on the method chosen by the traders.
- This user-friendly design is essential for both novice and experienced traders who need to access information quickly and efficiently.
- 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.
gt.io Trading Platforms
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.
User Experience
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.
- Yes, gt.io offer ZAR base currency account to South African Trader with several benefits.
- Our reviews found that the GT Group offshore retail brokers do not accept clients from Europe or North America.
- After sign-up, all new clients need to deposit some funds to their account to start trading.
- FXGT.com’s recent brand refresh demonstrates its commitment to revolutionizing the trader experience, with a focus on meeting the changing needs of customers.
- This commitment to transparency and fairness in trading practices further solidifies FXGT.com’s position as a trustworthy online broker.
Account Types
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.
Deposit Options
Hybrid refers that it allows trading through fiat as well as cryptocurrency as the base currency 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.
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.
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.
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.
They are a newly launched broker incorporated in 2020 and hence, the gt io markets 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.
Does gt.io offer ZAR base currency Account?
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.
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.