GTC 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 GTC trading signals. You will learn what kinds of trading signals GTC offers and what the conditions for using them are.
Short introduction of GTC
This broker's clients trade currency pairs and CFDs on stocks, indices, precious metals, and energies through MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. There is a free demo account along with two standard and three professional accounts. Spreads are floating, starting from 0 pips, with no trading fees on most accounts. There are no fees for depositing and withdrawing funds that are available by bank transfers, bank cards, e-wallets, and crypto-wallets. This broker does not limit its clients in trading strategies and methods. Leverage can be increased up to 1:1000. Passive income options include MAM and PAMM accounts and a copy trading service. Also, this broker offers an Introducing Broker (IB) partnership program. The company is licensed by three regulators, is a member of the Financial Dispute Resolution Center (FDRC), and has a compensation fund.
| 💰 Account currency: | USD, AED, NGN, EUR, JPY, AUD, NZD, and PKR |
| 🚀 Minimum deposit: | $30 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💱 Spread: | Floating from 0 pips |
| 🔧 Instruments: | Currency pairs, CFDs on stocks, indices, precious metals, and energies |
| 💹 Margin Call / Stop Out: | 100%/20% |
GTC Pros and Cons
👍 Advantages of trading with GTC:
•Minimum deposit for standard accounts is only $30, which ensures a low entry threshold;
•Tight spreads from 0 pips and low fees up to $3.5 per lot minimize trading costs;
•Except for the demo account, there are five live account types, that provide for individualizing the offer;
•No trading restrictions combined with high leverage provide high-profit potential;
•Traders work through top-end platforms that are easy to learn and easily customized using plug-ins;
•This broker offers passive income options such as joint accounts and an integrated copy trading service;
•Technical support is multilingual and is available 24/7.
👎 Disadvantages of GTC:
•There are many assets in this broker's pool, but they are only currency pairs and CFDs;
•This broker does not offer a standard referral program for individuals, but only an IB partnership program;
•GTC Forex does not provide its services in Germany, Italy, Belgium, Ireland, Liechtenstein, Norway, and a number of other countries.
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:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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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.
GTC Trading Signals
Brokers may charge traders with spreads, trading fees, and withdrawal fees. Spreads can be fixed or floating; the second one is preferable in most cases. They can also be standard or raw (raw spreads are lower, but the fee is higher). Some brokers combine spreads with a trading fee, and some of them don’t charge any fees. Fees at GTC Forex depend on the account type selected by the trader, and spreads are floating from 0-0.3 pips on all accounts. The Raw Spread account has the lowest spread and a $3.50 fee, which is on average lower than those of this broker’s competitors. There are no trading fees on Standard and Pro accounts.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | Standard spread from 3$, no fee | No |
| Standard Cent | Standard spread from 3$, no fee | No |
| Raw Spread | Raw spread from 0$, with a $3.5 fee per lot | No |
| Zero | Standard spread from 0$, with a $0.2 fee per lot | No |
| Pro | Standard spread from 0$, no fee | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that GTC 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.
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FAQs
Are there fees charged for trading signals?
Yes. As a rule, the fee is charged as a markup to the spread, or it could be a subscription fee, or a percentage of the profit, etc.
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
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.
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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.