GFTForex reviews - Members of ForexPeaceArmy

Irate, Jamaica

Rating:
Date of Post:	2008-02-12
Review:	This review is more about GFT’s “free training” offer and their customer service than about the platform/broker. Don’t skip my review however, as it will give you an idea as to whether or not this firm can be trusted because, if you don’t care about the customer, what do you care about? If what you care about is money, then you will have to churn through customers in order to keep your business going. Of course, churning through customers leaves a lot of angry people in your path. First, I want you to note that I am careful and meticulous. However, when it comes to the Forex market, you can add suspicous to the list. For this reason, I ask many questions before I spend a dime. Secondly, let me state that I was attracted to GFT because they offer an “unlimited time” demo account once you maintain a live account. One can see the benefit of this since you need more than a month to learn to trade. So I decided to open a demo account and downloaded their software. Shortly thereafter, a rep contacted me to tell me about their free training offer. By questioning the rep, this is what I understood about the training offer. [] I’ll get FREE training if I open a live account. [] I can close my live account at any time WITHOUT PENALTY OR ANY OTHER CHARGES. [] The reason they are being this generous, is that, if I like their software and service, I’ll become their customer. This seems reasonable since brokers make their money from customers, hopefully via the spread. The spread allows the broker to make money whether or not the customer is making money. Note, I did not inquire about the quality of their training because I was willing to take a chance since I had been reading quite a bit and thought I knew enough to fill in any gaps. Even though I am not upset about the training, I want others to be aware of it’s shortcomings, which are; [] It was NOT structured thereby leaving you with more questions than answers. Without prior knowledge you will be lost. [] Lack of structure left gaping holes. I first got basic information via their online web tutorial. This tutorial was not even near the quality of babypips.com. In fact, the rep referred me to babypips for lessons in the basics of forex. Then suddenly we jumped into advanced informtion given by the rep such as gartley and butterfly patterns which he was not equiped to explain. I am angry because, they either lied to me or misled me. US$50 has been removed from my live account which was NOT SUPPOSED TO BE TOUCHED by anyone other than myself. I never traded the live account. It was maintained strictly as a means to get the unlimited time demo and the training. I am also upset about their customer service that keeps referring me to my rep who I have attempted to contact but he has made no attempt to contact me for about 4 weeks. Needless to say I have closed my account. For credibility, since I have not given my name, and also because I have seen where other brokers have refuted the authenticity of reviews, let me give the first name and first initial of my rep’s surname … Michael S.

Chase, Arizona Rating: Date of Post: 2008-06-11 Review: GFT is falling apart! I’ve traded with them for over a year now after having a bad experience with FXCM. When they added futures to Dealbook, I was excited about the product expansion. Unfortunately, immediately after adding futures, the platform slowed to a crawl. When I called to complain, their tech. support had me uninstall then reinstall the platform — not once but five times (a 22MB file)!! I was even sent a “patch” to correct the issue but that failed as well. I then decided to call my forex specialist as a last resort before closing my account. My call was answered by an individual that did not know anything about forex or futures but was assigned to my account due to my prior specialist quitting. I asked this person if they had any trading experience at all and their answer was “No - I’ve never traded a live account.” Needless to say, my confidence level with GFT was heading south fast. When I asked to speak to a manager, I learned that he was new as well and knew less about Dealbook then my new specialist did! He has no trading experience either and could not help me with my problem although he was very proud of the fact that he has hired over a dozen new forex specialists with no prior industry or trading experience due to the high employee turnover. When I informed him I was going to close my account, he proceeded to tell me how GFT is now mirroring FXCM in both variable pip spreads and trade execution. Wrong Answers GFT. You took what was once a good trading platform and company then destroyed them both. I closed my account that day!

Linda, Washington Rating: Date of Post: 2008-06-02 Review: GFT is not a good brokerage in my view. First, the charts look strange and are hard to read. Next, our “broker” left GFT without notifying us and we went through about a week of trying to communicate with GFT without anyone telling us what was going on. (They just said, “no one works here by that name” at first. When we finally got someone who knew that she had worked there and had quit, the person we spoke with defended her (the broker that left) unprofessional behavior and was rude to me. Last, (but not least) I have spent some time comparing price action on two charts simulataneously in two different systems and found that GFT can be going one direction while Metatrader is going a different direction. So, something is rotten somewhere! If you can’t trust their prices and you can’t trust their people, what can you trust? Thanks, Linda

Ellil, aleppo Rating: Date of Post: 2007-09-27 Review: I tried them for a little while. there platform does not give the trader any cut. Slow, froze often, the pc worked like old lady carrying a heavy load. So, I could not open any other brokers at the same time.

RICARDO OBREGON, COLOMBIA Rating: Date of Post: 2007-09-26 Review: This broker has a very good customer service, my rating is 10, but They have stolen my money, because when you close a position and don’t let your Stop Loss or TP trigger, an order is triggered in the position where you left your SL o TP. If you were buying a sell order will trigger and viceversa. You have to be deleting your SL and TP positions, How can it be possible!!! Unbelievable… Do not trade with this broker.

Lee, Malaysia Rating: Date of Post: 2007-09-21 Review: They just closed my account without inform me even i have small sum in it. They just ask me to open an account again when i live chat with them. They just stolen my money