GCM Forex Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of GCM Forex trading signals. You will learn what kinds of trading signals GCM Forex offers and what the conditions for using them are.
Short introduction of GCM Forex
GCM Forex is a brand of Global Capital Markets, established in 2012. The company is currently one of the largest brokers in Turkey. It operates under the regulation of the Capital Markets Board (CMB, G-039 (398)), a respected regulator of Turkey. GCM Forex has equity of 39 million Turkish lira. The company received the Leveraged Volume Leader Award. GCM Forex has credit rating AA, according to rating agencies, which means high creditworthiness and very low probability of financial collapse.
| 💰 Account currency: | USD, EUR, TRY |
| 🚀 Minimum deposit: | TRY 50,000 |
| ⚖️ Leverage: | Up to 1:10 |
| 💱 Spread: | From 2 pips (Standard), from 0 pips (ECN) |
| 🔧 Instruments: | Currency pairs (51), CFDs on commodities (21), indices (14), stocks (137), bonds and promissory notes (3) |
| 💹 Margin Call / Stop Out: | Margin Call: 50% |
GCM Forex Pros and Cons
👍 Advantages of trading with GCM Forex:
•Proprietary software for trading in a browser.
•Demo account is provided for free and can be opened again after the trial period expires.
•The company’s operation is controlled by a reputable authority at the place of its actual location.
•There is a 24-hour live chat on the GCMForex website for addressing urgent issues.
•Provision of currency pair quotes in real time mode for technical analysis.
•Trading support by phone.
•The broker offers an ECN account with no spread, where the orders are executed quicker and at better prices thanks to the direct access to the market without preliminary processing.
👎 Disadvantages of GCM Forex:
•Limited choice of deposit and withdrawal methods.
•Customer support does not work on weekends and holidays.
•Maximum leverage is 1:10.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
-
Copy trading.
-
Email alerts.
-
Signals through a blog on the website.
-
Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
GCM Forex Trading Signals
As a result of the analysis aimed to discover evident and hidden commissions, our experts established that GCM Forex commissions are transparent. For trading transactions, the commission is limited by the value of the spread, and there is a swap in case of position rollover to the following day. In some cases, swap may be positive or none at all. There is no spread on the ECN account, but there is a brokerage commission per lot, which ranges from 1.5 pips to 15 pips. The broker does not charge any fees for account opening and deposit/withdrawal.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | from $20 | No |
| ECN | from $0 | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that GCM Forex does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
- ByBit Trading Signals
- Fusion Markets Trading Signals
- HugosWay Trading Signals
- HYCM Trading Signals
- P2PB2B Trading Signals
- easyMarkets Trading Signals
- BitGet Trading Signals
- STEX Trading Signals
- OneTrade Trading Signals
- Scandinavian Capital Markets Trading Signals
- ADSS Trading Signals
- Charterprime Trading Signals
- Paribu Trading Signals
- Bitvavo Trading Signals
- Hantec Markets Trading Signals
- MultiBank Trading Signals
- IG Markets Trading Signals
- Bitbank Trading Signals
- UFX Trading Signals
- OvalX Trading Signals - ETX Capital Review by TU Expert
- Yobit Trading Signals
- SmartFX Trading Signals
- FXGM Trading Signals
- BitMEX Trading Signals
- NSFX Trading Signals
- FINAM Trading Signals
- Cryptopay Trading Signals
- Swissquote Bank SA Trading Signals
- Deribit Trading Signals
- Grand Capital Ltd. Trading Signals
FAQs
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
In which form can signals be provided?
Signals can be provided as copy trading, newsletters, alerts, blog articles, etc.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.