GCI Review 2022

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GCI offers online trading in 300+ tradable assets with up to 1:400 leverage.

Awards
  • Best Forex Broker Europe 2015 - ForexExpo
  • Best Forex Customer Service 2015 - IFM
  • Best Forex Broker Europe 2014 - ForexExpo
  • Most Innovative Forex Broker Europe 2013 - International Finance
  • Best Forex Broker Europe 2012 - Global Banking & Finance Review
Bonus4% interest on account balance
InstrumentsForex, CFDs, indices, shares, commodities
Demo AccountYes
Min. Deposit$500
Payment Methods
Min. Trade0.01 lots
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsYes
Margin TradingNo
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingYes
Social TradingYes
Copy TradingNo
Trade SignalsYes
Islamic AccountYes
Commodities
  • Gold
CFD TradingTrade in multiple online financial markets.
CFD FTSE Spread3
CFD GBPUSD Spread2
CFD Oil Spread4
CFD Stocks SpreadVariable
CFD Leverage1:400
Forex TradingTrade dozens of leading online forex pairs.
Forex GBPUSD Spread2
Forex EURUSD Spread1
Forex EURGBP Spread2
Forex Assets40+
Risk Warning – Your capital is at risk

GCI Financial Ltd is an award-winning forex and CFD broker offering the MetaTrader 4 (MT4) and ActTrader platforms. Our review of the broker’s services covers the software downloads, available markets, demo accounts, and customer support. Find out if you should login and start trading with GCI.

GCI Financial Company Details

Founded in 2002, GCI Financial Ltd offers over 300 tradable financial assets and educational tools for both beginners and experienced traders. The company has clients from all over the world, including Europe, India, and Australia.

However, despite receiving multiple awards over the years, the broker is unregulated and it isn’t clear where its head office is based.

Trading Platforms

MetaTrader 4

GCI offers the MetaTrader 4 (MT4) trading platform – the leading system among traders of all levels. All of the broker’s tradable financial assets are available on MT4 along with multiple features:

The MT4 64-bit download is available from the broker’s website.

ActTrader

ActTrader is sophisticated forex software that offers trading across all available products. The platform comes with a range of tools:

ActTrader is available as a free download from the broker’s website.

ActTrader platform
ActTrader platform

Markets

GCI Financial offers over 300 instruments across several asset classes:

Spreads & Commission

Spreads start at 1 pip for the EUR/USD and around 2 pips for the GBP/USD and EUR/GBP. Typical spreads on major indices, such as the FTSE and Dax, start at 3 points. Spreads on gold and silver are 45 and 5 respectively.

Accounts are commission-free, so it’s just the spread to take into account. Overall, trading fees are around the industry norm.

Leverage

Across both MT4 and ActTrader, maximum leverage on currencies is 1:400 while on shares, it’s 1:20. Note, ESMA regulations limit leverage rates to 1:30 for residents from Europe.

Mobile Apps

GCI offers both the ActTrader and MetaTrader 4 platforms in mobile app versions, allowing traders to access the markets and manage their accounts from portable devices. Users have access to many of the same features as the desktop platforms.

The apps are compatible with both iOS and Android devices and can be downloaded for free from the Apple App Store or the Google Play Store. There is also a mobile website for ActTrader users, meaning clients can carry out trades from a mobile browser without having to download additional software.

GCI mobile trading
GCI mobile trading

Payment Methods

Deposits

Traders can fund their account using several fee-free methods:

The minimum deposit is $500 and there is no maximum deposit limit. Note some methods may charge their own commission fees.

Withdrawals

Withdrawals can be made via the same methods listed above. Traders will need to complete a withdrawal form (online or PDF) available from the client portal, and email it back to the broker. There are no withdrawal fees and most payment requests are processed within 24 hours.

Demo Account

GCI Financial offers demo accounts with both the MT4 and ActTrader platform downloads. Users can practice trading with $50,000 in virtual funds, with no financial risk. If you’re unsure whether to open an account after reading this review, the simulator account is a great way to test the broker’s financial services for yourself.

Bonuses & Promotions

GCI offers an exclusive promotion of 50% bonus margin on deposits over 10,000 USD or EUR. Deposits less than this will be subject to the regular 25% bonus margin.

The broker also offers 4% interest on your average daily balance which is credited at the end of each month. Traders should check the broker’s website for any changes or further revenue promotions.

Regulation

Despite winning multiple awards, GCI LLC is not regulated. This is a concern. Unregulated providers do not provide the same degree of security as fully licensed brokers. It also raises questions about whether GCI Financial is a scam. Customer reviews don’t suggest that is the case, but readers should be wary given the group’s lack of legitimate regulatory oversight.

Additional Features

GCI offers an education and resources centre, containing various trading tools to assist both beginner and expert traders. This includes daily news, e-learning resources, a currency calculator, forex charts, trading signals, and an economic calendar. The only problem is that much of the educational content and trading signals haven’t been updated in years.

Account Types

GCI’s account offering is based on the two platforms available: MetaTrader 4 and ActTrader. Both accounts require a $500 initial deposit and offer trading in forex, indices, metals, crude oil, individual shares, and commodities.

The ActTrader account requires 10,000 currency units per lot, whilst the MetaTrader account requires 100,000 currency units per lot. The MetaTrader account also gives you a choice of ECN or traditional execution, no requotes or delays, and NDD instant execution in major currencies.

Benefits

Benefits of trading with GCI include:

Drawbacks

Downsides to creating a GCI trading account include:

Trading Hours

Forex can be traded 24 hours a day, however for other assets, trading times vary:

Customer Support

GCI offers a customer support help desk in eight different languages, including English, German, Russian, and Japanese.

The broker can be contacted via:

Unfortunately, it can take a while to get through to live chat support.

Security

The MetaTrader platform is protected with industry-standard Secure Sockets Layer (SSL) encryption. It is not clear from the website what levels of security the ActTrader platform has. GCI does, however, have a privacy policy on the website detailing their data collection processes.

GCI Verdict

GCI offers a decent breadth of tradeable financial assets on the MetaTrader 4 and ActTrader platforms. The broker also offers commission-free accounts as well as a fully-featured demo account. However, the outdated education centre and the lack of regulatory oversight may deter some traders.

Accepted Countries

GCI accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use GCI from Afghanistan, Bosnia And Herzegovina, Cuba, Eritrea, Ethiopia, Iran, Iraq, Kyrgyzstan, Laos, Libya, Korea, Sudan, Syria, Venezuela, Yemen, Uganda, United States.

Compare GCI

Compare GCI with similar brokers that accept traders from your location. Among available brokers these are the most similar to GCI:

  1. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
  2. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, and energy, as well as stock indices. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  3. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  4. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.

GCI Comparison Table

Compare GCI With Similar Brokers
GCI AAAFx InstaForex IG Group eToro
Rating 4.4 4.7
Markets Forex, Stocks, Commodities Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $500 $10 €200 to €50,000 (depending on account type) £250 $10
Minimum Trade 0.01 lots 0.01 lots 0.01 Lots 0.1 lots $10
Regulators HCMC (Greece), FSCA (South Africa) CySEC FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin FCA, CySEC, ASIC, FSA
Bonus 4% interest on account balance 100% Deposit Bonus available for Global clients
Education No No No Yes Yes
Platforms MT4 MT4, MT5 MT4, MT5 MT4
Leverage 1:400 1:30 EU, 1:500 Global 1:30 for retail clients, 1:500 for professional 1:30 1:30 EU
Payment Methods 2 8 10 6 14
Detailed Comparison GCI vs AAAFx GCI vs InstaForex GCI vs IG Group GCI vs eToro
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InstaForex
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eToro
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Compare Trading Instruments

Compare GCI Trading Instruments
GCI AAAFx InstaForex IG Group eToro
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil No No Yes Yes Yes
Gold Yes Yes Yes Yes Yes
Copper No No No Yes Yes
Silver No No Yes Yes Yes
Corn No No No No Yes
Crypto No Yes Yes Yes Yes
Futures No No No Yes No
Options No No No Yes No
ETFs No No Yes Yes Yes
Bonds No No No Yes No
Warrants No No No No No
Spreadbetting No No No Yes No
Volatility Index No No No Yes Yes

GCI vs Other Brokers

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GCI vs

FAQ

Is GCI Financial a scam?

GCI Financial Ltd is currently unregulated. With that said, online customer reviews don’t suggest that the broker is a scam. Still, we always recommend opening an account with a licensed provider first.

What assets does GCI offer?

GCI offers over 300 tradeable instruments in forex, indices, shares, metals, commodities, and CFDs.

How can I make a deposit at GCI?

Deposits can be made via wire transfer, Perfect Money, Skrill, or Neteller. You can deposit funds from within your account portal and the minimum payment accepted is $500.

Does GCI offer a demo account?

Yes, GCI offers a demo account with both the MetaTrader 4 and ActTrader platforms. Users have access to $50,000 in virtual funds to practice trading.

What is the maximum leverage offered at GCI?

GCI offers maximum leverage of 1:400 with live accounts. For trading in online shares, leverage is capped at 1:20.

GCI offers online trading in 300+ tradable assets with up to 1:400 leverage.