Forex Reviews and Recommendations

GFT review

8/23/2009

2 of 2 customers found this helpful (100%)

Pros:

None

Cons:

None

Bottom Line:

Yes, I would recommend this to a friend

Quote:

It's a couple of years since I've traded with GFT but at the time they were excellent. The platform was great and there were never any concerns about the company, or the safety of capital, but the real reason I liked working with them is they would always guarantee stops and limits in any market conditions. I remember a Non-Farm-Payrolls release that sent me way into the money, I closed and the market rapidly reversed. For 20 minutes my trade blotter described my order to close the trade as "pending" as the P/L shot further into negative territory, but eventually the trade was honoured, precisely to the pip. That kind of thing gives traders peace of mind.

It's not all flowers and champagne though. GFT always maintained a dealing desk, and again this means it's better for them for the clients to lose money. I prefer STP brokers who just make money from volume via the spread.

Overall, if the FIFO Rules don't screw up your trading strategy, I'd say GFT are probably the best of the retail shops in the US