Score
GICM
Saint Vincent and the Grenadines|5-10 years| http://www.gicmarkets.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
gicmarkets.com
Server Location
United States
Website Domain Name
gicmarkets.com
Server IP
34.194.32.102
Company Summary
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | No regulation |
| Market Instrument | Forex, cryptocurrencies, commodities and metals |
| Account Type | Classic, Pro and VIP |
| Demo Account | yes |
| Maximum Leverage | 200:1 |
| Spread | From 0.05 pips |
| Commission | N/A |
| Trading Platform | MT5 for Web, Desktop, Android and iOS |
| Minimum Deposit | $50 |
| Deposit & Withdrawal Method | MasterCard, Visa, Neteller, Bank Transfer, UnionPay and Skrill |
GICM, a trading name of GIC Markets, is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 200:1 and floating spreads from 0.05 pips on the MT5trading platform via three different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that GICM currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.45/10. Please be aware of the risk.
Market Instruments
GICM advertises that it offers access to a wide range of trading instruments in financial markets, including forex, cryptocurrencies, commodities and metals.
Account Types
Apart from demo accounts, GICM claims to offer three types of trading accounts, namely Classic, Pro and VIP, with minimum initial deposit requirements of $50, $100 and $50 respectively.
Leverage
The specified leverage for different account types at GICM varies between 100:1 and 200:1. Clients on the Classic and Pro accounts can enjoy the maximum leverage of 200:1, the Pro and VIP accounts can experience leverage of 100:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
GICM claims to offer spreads from 0.05 pips on all account types.
Trading Platform Available
The platform available for trading at GICM is one of the most notable and preferred trading platforms the market offers - MT5 for Web, Desktop, Android and iOS. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality.
The MT5 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
From the logos shown at the foot of the home page on GICMs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of MasterCard, Visa, Neteller, Bank Transfer, UnionPay and Skrill. The minimum initial deposit requirement is said to be $50.
Bonuses
GICM claims to offer $10 no deposit bonus and $5 sign up bonus.
Customer Support
GICM‘s customer support can be reached by telephone: +44 2032393863, email: support@gicmarkets.com. You can also follow this broker on social networks such as Twitter, Facebook and Instagram. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.
Pros & Cons
| Pros | Cons |
| • Demo accounts available | • No regulation |
| • Low minimum deposit | |
| • MT5 supported | |
| • Multiple payment options offered |
Frequently Asked Questions (FAQs)
| Q 1: | Is GICM regulated？ |
| A 1: | No. It has been verified that GICM currently has no valid regulation. |
| Q 2: | Does GICM offer demo accounts？ |
| A 2: | Yes. |
| Q 3: | Does GICM offer the industry-standard MT4 & MT5？ |
| A 3: | Yes. GICM offers the MT5 trading platform. |
| Q 4: | What is the minimum deposit for GICM？ |
| A 4: | The minimum initial deposit at GICM to open the most basic account is $50. |
| Q 5: | Is GICM a good broker for beginners？ |
| A 5: | No. GICM is not a good choice for beginners. Although it offers demo accounts on the MT5 trading platform, it lacks legitimate regulation. |
Keywords
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
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