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GT247 review – Is gt247.com scam or good forex broker?

gt247

GT247 may be a South African broker (regulated by the local Financial Sector Conduct Authority (FSCA), which offers a variety of forex pairs and other CFDsn the MetaTrader5 platform. For information about their trading conditions you’ll check the subsequent review

Regulated in South Africa

The Financial Sector Conduct Authority (FSCA) of South Africa became the successor of the local Financial Services Board (FSB) back in 2018. It oversees the non banking financial sector and in contrast to some documented financial watchdogs just like the Financial Conduct Authority (FCA) within the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) imposes relatively few limitations on the brokers it oversees. Still the South African regulator features a good reputation which is that the reason we accept GT247 as a reliable broker.

The Best Forex trading SA websites

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Deriv

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Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this broker.
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Minimum deposit: $250
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cm trading

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Fxgm

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Minimum Deposit: $100
Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
olymp trade

olymp trade

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Actually GT247.com, which is travel by the Johannesburg based GT247 (Pty) Ltd, may be a subsidiary and a juristic representative of Purple Group Limited, which is a licensed Financial Services Provider by the Financial Sector Conduct Authority (FSCA) of South Africa . See for yourself:

Still one possible advantage to trade with a broker regulated in Europe for instance is that your trading account are going to be insured and you’ll not lose your funds even within the unlikely case your broker happens to be insolvent. for instance with a FCA regulated broker, that insurance will cover to 85 000 GBP of your money, and this is often an honest reason to see our list of brokers regulated within the UK:

No minimum deposit requirement

  • GT247 has no minimum deposit requirement which means you’ll start trading with just a couple of dollars approximately . that’s excellent news and is certainly in line with the simplest practices within the industry – some big names like FBS and IG don’t have a minimum deposit requirement also.
  • MetaTrader5 available
  • MetaTrader5 sports all the great features of the industry standard MetaTrader4 – it’s an excellent charting package, numerous market indicators and therefore the so called Expert Advisor trading robots with the assistance of which one can easily run algorithmic trading sessions.
  • On top of that MetaTrader5 allows traders to to execute trades on different financial markets (including exchange-traded stocks) through one account. Here you’ll check our list of brokers supporting the platform