GTRADEX REVIEW

Comments Rating 1.08 (4 reviews)

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GENERAL INFORMATION

Broker Name:

GtradEX

Broker Type:

Forex

Operating since year:

2008

Regulation:

Address:

Vienna, Austria

Broker status:

Active

CUSTOMER SERVICE

Phone:

Email:

support@gtradex.net

Languages:

English

Availability:

24/5

TRADING

Trading platforms:

Proprietary

Trading platform Time zone:

Demo account:

Mobile trading:

YES

Web-based trading:

YES

Bonuses:

Other trading instruments:

YES

ACCOUNT

Minimum deposit ($):

$250

Maximal leverage:

1:500

Spread:

Floating

Scalping allowed:

YES

GtradEX broker does not count a lot of years of experience, but it already gathered a few negative feedbacks that drew our attention.

We provide detailed reviews of financial investment firms for our readers to help them distinguish between reliable and shady brokers. In our GtradEX review, we will go through all the details and red flags that arose during this broker’s operation history to decide it is worth trusting or not.

GtradEX: General Overview

GtradEX is a Forex and CFD broker established in 2021. The website claims to have seven branches worldwide, such as Honk Kong, Dubai, Qatar, Berlin, Johannesburg, Shanghai. The biggest one is the Honk Kong branch.

However, the exact address of headquarter office is not provided.

Besides Forex, you can trade with commodities, stocks, cryptocurrencies, and Indices at GtradEX.

The website seems well-designed and accurately oriented for the visitors since most of the essential information is visible. However, educational material is missing, so novice traders might find it challenging to understand some essential details and terms.

Lack Of Regulation And Safety

The biggest concern that caught our attention is missing regulation. GtradEX is an unregulated broker that comes with a lot of risks with the traders. Traders with licensed brokers enjoy various other benefits that GtradEX cannot grant either – for example, licensed brokers in the UK must participate in guarantee funds.

The broker claims to put clients’ privacy and security as its number one priority. However, we don’t know the company’s exact safety measures to guarantee that security.

Trading Platform

Speaking of the Trading platform, GtradEX decided to choose an in-house trading platform. While most financial investment firms provide industry-leading MT4 or MT5, GtradEX chooses proprietary trading software. While there’s nothing tragic in it, their WebTrader trading platform still lacks many advantages of MT4 per se.

GtradEX trading platform still claims to offer a customizable workplace, advanced interactive graphs, various order types, safe transactions, and wallets.

The platform comes with risk management tools, fast execution time, and interactive charts.

The platform is available as a mobile app, too, 24/7. However, the mobile version has relatively poor service. The app lacks essential trading tools, so traders can’t get a complete mobile package service. A mobile app might only be good for checking the updates and not directly making orders.

Trading Assets

Traders at GtradEX get access to four basic markets: Forex, Commodities, Digital currencies, Stocks, and Indices.

Currency pairs are where most traders start their trading experience. EUR/USD is the most powerful pair, available 24/5.

Commodities include Gold, Silver, Crude Oil, Gas, Wheat, Cocoa, Coffee, and more commodities.

The Digital Currency market includes trading with Bitcoin, Bitcoin Cash, Ethereum, Litecoin with high leverage limits.

Stocks and indices mean trading with indexes like Nasdaq, FTSE 100, DAX 30, S&9 500.

These assets variety is pretty standard and solid, so it more or less suits every traders’ needs.

Trading Account

GtradEX offers three types of trading accounts, Standard, Premium, and Business. The minimum initial deposit is also standard – €250.

Let’s discuss the features and fees of each account.

STANDARD Account

Minimum Deposit: €250
Available Instrument categories: Forex, Commodities, Stocks, Indices, Digital Currencies
Instruments: 1500+
Maximum Leverage: 1:80
Minimum spread: 0.5
Trading Platform: Webtrader
Account setup & management: Free
Forex, Indices, Commodities commissions: O commissions
Segregated account’s funds: YES
Minimal Order: 0.01 lot
Stop loss & Take profit: YES
Negative Balance Protection: YES
Account Manager Assistance: YES
Financial Advisor Assistance: NO
24/5 Customer Service: NO

PREMIUM Account

Minimum Deposit: €2,500
Available Instrument categories: Forex, Commodities, Stocks, Indices, Digital Currencies
Instruments: 1500+
Maximum Leverage: 1:150
Minimum spread: 0.1
Trading Platform: Webtrader
Account setup & management: Free
Forex, Indices, Commodities commissions: commission form €3.50 per lot
Segregated account’s funds: YES
Minimal Order: 0.01 lot
Stop loss & Take profit: YES
Negative Balance Protection: YES
Account Manager Assistance: YES
Financial Advisor Assistance: YES
24/5 Customer Service: NO

BUSINESS Account

Minimum Deposit: €25,000
Available Instrument categories: Forex, Commodities, Stocks, Indices, Digital Currencies
Instruments: 1500+
Maximum Leverage: 1:500
Minimum spread: 0.7
Trading Platform: Webtrader
Account setup & management: Free
Forex, Indices, Commodities commissions: commission form €10 per lot
Segregated account’s funds: YES
Minimal Order: 0.01 lot
Stop loss & Take profit: YES
Negative Balance Protection: YES
Account Manager Assistance: YES
Financial Advisor Assistance: YES
24/5 Customer Service: YES

The Standard account price is pretty accurate. However, a business account is already pretty expensive, and the difference is not that noticeable. Also, 24/5 customer support service is available only for the business account, which is a big disadvantage. Customer support should be accessible for any account holder for free.

Deposit And Withdrawal

Traders can make deposits with a secure funding source, such as Bank/Wire transfer, Credit/Debit card. Also, keep in mind that the broker charges you an inactivity fee of 10% if you don’t do any activity with your account for six months.

For withdrawals, traders should use the same funding methods as they used for the deposit. Withdrawal charges you with transaction fees as well. For example, the fee is 50 USD/EUR for wire transfers and 25 USD/EUR for Credit/debit cards, plus a processing fee of 10.00 USD, 25.00 USD for ePayments.

In addition, withdrawals from accounts with a transaction volume of less than 200 and unverified accounts will be charged 10% of the withdrawal amount.

The minimum withdrawal amount for wire transfer is 250.00 USD/GBP/EUR. The minimum withdrawal amount for any other method is 100.00 USD/GBP/EUR.

However, please note that these fees do not include transaction fees imposed. If at least $250 is withdrawn via bank wire transfer, a transaction fee of $50 will be charged.

Withdrawals can take 2-14 days, depending on the method you are using.

To sum up, GtradEX transaction fees are pretty high. All the action might cost you an extra charge, so carefully choose your funding method, and consider these fees in advance if you decide to cooperate with this broker.

Customer Support

GtradEX trading platform is available in English, Russian, and German, and the customer service is available 24/5, 8 am-5 pm.

Depending on your issue, there are several email addresses mentioned on the website:

TECHNICAL SUPPORT
techsupport@GtradEX.net

COMPLIANCE
compliance@GtradEX.net

LEAVE AN APPOINTMENT
leaveapp@GtradEX.net

You can also fill in the message box on the website and wait for the answer in the email.

Unfortunately, the broker does not provide the phone number or the exact address of the head office.

Live chat is also unavailable at GtradEX.net. Sadly, phone calls and live chat are the fastest ways to get the answer from the broker, while email sometimes takes weeks to be seen and responded to.

GtradEX Review: Conclusion

To conclude, we don’t really see GtradEX as a great trading option. The broker stays quite shady in our perspective. While hundreds of trustworthy, regulated, and transparent brokers are available on the market, we don’t recommend you invest your funds with GtradEX.

COMMENTS

4 Comments

Logan Pither 24.11.2023
Avoid this broker
(1)
Platform

(1)
Spread

(1)
Trading Instrument
Avoid this broker by all means. They do not pay off profit and are very rude.

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Gemma Rolando 10.11.2023
Rude customer service
(1)
Platform

(1)
Spread

(1)
Trading Instrument
Rude customer service. They are very disrespectful.

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Brayden Sloman 06.10.2023
Unhelpful customer service
(1)
Platform

(2)
Spread

(1)
Trading Instrument
Unhelpful and rude customer service. Avoid this company by all means.

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Bernd Engel 15.12.2021
Expensive pricing
(1)
Platform

(1)
Spread

(1)
Trading Instrument
The price is way too high. Expensive pricing.

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