简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Is gcmasia.com scam or safe forex broker?
Trading accounts
Account type | Minimum deposit | Minimum trade size | Maximum leverage | Average spreads |
Standard | $100 | 0.01 | 1:200 | 2.5 pips |
GCMAsia offers one type of live trading account with relatively average conditions, plus a free demo account with free $100 000.
There is also the option to open a VIP account by depositing $100 000. It comes with benefits like professional trading courses, risk analysis and investment advice from the brokers experts.
Besides forex and CFDs, GCMAsia offers trading in gold, oil, commodities and stock indices.
The company. Security of funds
Company | Country | Regulation |
GCMAsia | Hong Kong | None |
GCMAsia operates as a “marketing affiliate” of Fortrade Ltd – a UK forex broker regulated by the country‘s Financial Conduct Authority (FCA). As per Fortrade’s affiliate program site, it offers CPA fees or flexible payment plans, commissions, marketing support, etc.
According to its site, the brand GCMAsia is owned and operated both by GCMAsia and Fortrade. The broker is mostly aimed at clients in the Asia Pacific region and is based in Hong Kong. Our check, however, revealed that it does not have a license with Hong Kong‘s Securities and Exchange Commission. This means the broker cannot offer its services in Hong Kong and it explicitly says it doesn’t.
On its website GCMAsia says that as per the FCA requirements, it keeps the client funds in segregated bank accounts. Furthermore, eligible claimants claimants are entitled to the Financial Services Compensation Scheme (FSCS) to seek compensation.
Those claims suggest that GCMAsia is a stable and relatively safe broker, despite the lack of own regulation and license, but we could not verify them.
Unlike Fortrade, which offers its proprietary trading platform Fortrader and nothing else, GCMAsia makes a safe bet and offers the eternally popular MetaTrader 4 (MT4). There is also the Sirix Webtrader
One of the main reasons for the popularity of MT4 is that it is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.
On the other hand, Sirix Webtrader does not require installation and offers roughly the same funciotnalities as the MetaTraders. It also has a social trading option.
GCMAsia accepts client deposits through credit/debit cards, bank transfer and the electronic payment systems Neteller and Skrill. The funding options of the broker are the same as that of its partner Fortrade.
GCMAsia does not have its own license and is not regulated as an entity, but claims to offer the same protection as the license of its partner, the UK broker Fortrade. This definitely does not mean that GCMAsia can offer its services in Europe under the MiFID passporting rules, but it does not seem to seek clients from Europe anyway. Judging by the language options on the site, its main targets are China, Indonesia and Malaysia.
Nevertheless, the potential clients of GCMAsia could benefit from the safety provided by the FCA license, as its requirements impose strict rules on client money segregation, membership in compensation schemes, capital requirements, etc.
GCMAsia offers relatively average trading conditions, even though the max leverage of 1:200 is relatively low.
Pros | Cons |
MT4 | No regulation |
Low leverage |
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
GCMAsia operates as a “marketing affiliate” of Fortrade Ltd – a UK forex broker regulated by the country’s Financial Conduct Authority (FCA). As per Fortrade’s affiliate program site, it offers CPA fees or flexible payment plans, commissions, marketing support, etc.
Binary.com is simple enough to use for beginners with minimal trading experience, while also offering enough features to satisfy even the most advanced option traders.
Read our Mtrading review carefully to see why we do NOT recommend this broker for trading. Just to clear any suspicions this is a mtrading.com review.
Pocket options is an online trading provider offering over 100+ trading instruments, along with the competitive promo and bonuses that rewards clients with social trading capabilities and other tools