What Is GT247.com?
GT247.com Is An International Brokerage Based In South Africa Offering A Diverse Range Of Financial Instruments Including Forex, Commodities And Indices. It Is The Legal Representative Of Purple Group Limited, A JSE Listed Company. However, The Broker's FSCA Beyond Its Regulatory Status Has Raised Concerns About Its Legitimacy And Accountability.
Pros And Cons
Pros:
Demo Accounts Available: Demo Accounts Are Offered GT247.com Providing Traders With A Risk-free Environment To Practice And Familiarize Themselves With The Platform And Trading Strategies Before Committing To Real Money. This Allows Beginners To Gain Confidence And Experienced Traders To Test New Strategies Without Financial Exposure.
MT5 Trading Platform: The Availability Of The MetaTrader 5 (MT5) Trading Platform Provides Traders With Advanced Charting Tools, Technical Indicators And Expert Advisors That Enhance Their Trading Experience And Capabilities.
No Minimum Deposit Requirement: GT247.com Does Not Set A Minimum Deposit Requirement, Allowing Traders To Start Trading With Whatever Amount They Feel Comfortable With. This Flexibility Makes Trading Accessible To Traders Of All Levels And Budgets, Enabling More Individuals To Participate In Financial Marekt.
Cons:
FSCA Excess: GT247.com's Regulatory Status Is Listed As "FSCA Excess", Which Raises Concerns Among Traders About Whether Brokers Comply With Regulatory Standards And Client Protection Measures.
Limited Information On Spreads/commissions/payment Methods: For Traders, Incomplete Information On Spreads, Commissions, And Payment Methods Can Cause Inconvenience And Uncertainty. Without This Information, Traders Will Face The Challenge Of Evaluating The Total Cost Of Trading And Choosing The Payment Method That Best Suits Their Needs.
Market Tools
GT247.com Offers A Wide Selection Of Market Tools To Meet The Diverse Preferences Of Traders.
With More Than 65 Global Currency Pairs Available For Forex Trading, Including Major, Minor And Exotic Currency Pairs, Traders Can Easily Take Advantage Of The Volatility Of Global Currencies.
Furthermore, The Platform Provides Extensive Access To A Wide Range Of Commodities Through Contracts For Difference (CFDs), Covering Major Global Commodities Such As Gold, Silver, Oil And Agricultural Commodities. This Diverse Portfolio Enables Traders To Create Comprehensive Portfolios And Seize Opportunities In The Forex And Commodity Markets To Effectively Meet Their Individual Trading Strategies And Objectives, On GT247.com Intuitive Trading Platform.
Accounts
GT247.com Offer Two Main Types Of Trading: Demo And Real Accounts.
Demo Accounts Allow Traders To Practice And Become Familiar With The Platform And Trading Strategies Without Risking Real Money. It Provides A Risk-free Environment For Traders To Hone Their Skills And Test Different Trading Methods.
On The Other Hand, Real Accounts Enable Traders To Trade With Real Money, Giving Them Access To The Full Range Of Features And Products Offered By GT247.com. With No Minimum Deposit Requirement, Traders Have The Flexibility To Start Trading With Any Amount They Feel Comfortable With, Making Trading Accessible To Traders Of All Levels And Budgets.
How Do I Open An Account?
To Open An Account In GT247.com, You Need To Follow These Steps:
Visit The GT247.com Website, Find And Click On "Register".
Fill In The Required Personal Details.
Fill In The Required Information
Complete The Verification Process For Any Purpose For Security.
Once Your Account Is Approved, You Can Set Your Investment Preferences And Start Trading.
Leverage
GT247.com Offers Leverage Of Up To 80:1, Offering Traders The Potential To Significantly Increase Their Trading Positions. While Leverage Can Amplify Potential Profits, It Also Increases The Level Of Risk, As Losses Can Likewise Accumulate Rapidly.
It Is Essential That Traders Fully Understand The Impact Of Utilizing A High Leverage Ratio. Before Trading With Leverage, Traders Should Assess Their Risk Tolerance, Implement A Strong Risk Management Strategy, And Use Only The Amount Of Leverage They Can Afford To Lose.
Trading Platform
GT247.com Offers The MetaTrader 5 (MT5) Trading Platform That Can Be Used On Multiple Devices And Operating Systems, Including Windows, IOS, Android And MacOS. This Versatile Platform Provides Traders With A Wide Range Of Trading Tools, Advanced Charting Tools, Technical Indicators And Expert Advisors, Enabling Them To Execute Trades Precisely And Efficiently And Analyze Market Trends.
With Its User-friendly Interface, Customizable Features And Powerful Features, The MT5 Platform Is Suitable For Traders Of All Levels, From Beginners To Seasoned Professionals, Facilitating A Rewarding Trading Experience.
Fees
GT247.com Provides A Transparent Fee Structure For ZAR And USD On The MT5 Platform.
With No Minimum Initial Deposit Requirement, Traders Have The Flexibility To Choose Any Amount To Start Trading.
Bid/Offer Spreads Include Shadows For All Instruments, With The Exception Of Stock CFDs, Allowing Traders To Effectively Assess Costs.
Funding Rates For Long And Short Positions Are Calculated Based On The Relevant Benchmark With A Fixed 2.50% Adjustment.
There Is No Interest Income On The Margin And The Platform Does Not Incur Monthly Usage Or Reporting Fees.
In Addition, SMS Notifications Are Provided Free Of Charge, Ensuring That Traders Are Kept Informed Of Their Trading Activities.
Client Server
GT247.com Offers A Comprehensive Client Server Through Multiple Channels, Including Phone, Address, Support Ticketing, And Social Media Such As Facebook, Twitter, And LinkedIn. Through Timely Assistance And Interaction On Various Platforms, They Ensure Efficient Support For Traders' Queries And Concerns.
Address: WeWork - Coworking & Office Space, 173 Oxford Road, Rosebank, Johannesburg, 2196.
Mailing Address: Postnet Suite 24, Private Bag X1, Melrose Arch, 2076.
Trading Desk: + 27 010 141 2201.
Customer Service Tel: + 27 010 141 2207
