GCITrading.com Review

1.683 · 85 REVIEWS

GCI Financial

Updated: May 7, 2021 · Visit site  · Is this your company?

GCITrading is a forex broker. GCI Trading offers the MT4 and ActTrader forex trading top platform. GCITrading.com offers over 35 forex currency pairs, stocks, indices, futures, commodities, gold, silver and oil for your personal investment and trading options.

GCITrading.com
December 16, 2013:  The French AMF has issued a warning about unauthorized forex brokers.  GCITrading.com is on that list.  CLICK HERE to verify.

January 24, 2013 Update:  The FPA has lifted the Scam Finding agaist GCI.  The client who made the complaint and GCI have reached a mutually satisfactory agreement.  The FPA considers that issue to be fully resolved.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum to Open Live: $500
Established: 2002
Address: Griffith Corporate Centre Kingstown, Saint Vincent And Grenadines
Contact: info@gcitrading.com, + 1 800 604 2457
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, ActTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (40+)
Cryptocurrencies:
CFD: (205+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, PerfectMoney, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, PerfectMoney, Skrill

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1.683 · 85 REVIEWS
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Traders Reviews

Kenneth Paulina,
Curacao Netherlands Antilles,
Dec 29, 2008,
Guest

Hi;
Opened a 2000 USD REAL account with GCITrading.com November 21, 2008. I was told the DEMO and REAL account are identical. It turned out to be false. The REAL account prices are manipulated. The videos below caught their price manipulation in the act for all to see. Try to open a SELL Oil position at 54.00, however after a long delay a REJECTED WINDOW pops up telling me the prices moved down to 53.90. But this is not true, because the Platform prices remained at 54.00. So I quickly tried to open a BUY Oil at 54.04 to see what would happen, again the REJECTED WINDOW pops up telling me the price moved up 54.14. EVEN THOUGH the platform price spread remains at 54.00 - 54.04. Please note, THIS IS NOT A ONE TIME OCCURRENCE.
I made a screen recording to prove my case. Go to these links and download the video. [copy and paste link if necessary]
The downloaded video is much [MUCH] sharper then the webpage video, but may take awhile to download.
You also need to set Windows Media Player to full screen to see the details.
http://www.4shared.com/file/73427742/997c0a93/1_GCITrading_REAL_-_Oil_Price_Spread_Manipulation__Delay.html

http://www.4shared.com/file/73429554/8a5f3dba/2_GCITrading_REAL_-_Oil_Price_Spread_Manipulation__Delay.html

http://www.4shared.com/file/73523693/1e296a8d/8_GCITrading_REAL_-_Oil_Price_Spread_Manipulation__Delay.html

Here are 2 more videos showing an attempt to close the same SELL Oil position at 54.00. In one video the price REJECTED PRICE WINDOW pops up with a new price of 53.75. and in the 2nd video a change to 53.85.
That's a 15 to 25 pips below the platform SELL price of 54.00 price. A price manipulation of plus 15-25 pips CLEARLY in favor of GCI.
All the while the Platform price remains steadfast at 54.00 - 15.04 even after open and closing both pop up windows. Price manipulation ALWAYS in increments of 5 i.e. 10,15,25 etc

http://www.4shared.com/file/73442917/266122c1/3_GCITrading_REAL_-_Oil_Price_Spread_Manipulation__Delay.html

http://www.4shared.com/file/73447140/fcbfe2ad/4_GCITrading_REAL_-_Oil_Price_Spread_Manipulation__Delay.html

More videos on price manipulation

http://www.4shared.com/file/73962971/5f0660cc/9_GCITrading_DEMO_-_Opening_Oil_Position.html

The next video is to show the DEMO vs. REAL price update. The REAL is deliberate faster to justify that your market order supposedly jumped against you right when your order went trough. It's ironic that the price ALWAYS jumps against you but never for you. My email address: People.Email@yahoo.com
http://www.4shared.com/file/73701114/d0da5943/7_GCI_DEMO_vs_REAL_Price_Update_Difference.html

 
Daniel,
SPAIN,
Oct 17, 2008,
Guest

I only trade with limit orders (no market orders)
I opened a live account with GCI (Metatrader platform). When I tried to place a limit order I had to wait 5 minutes or more for execution and 3 minutes to cancel a limit order.

I called the helpdesk for that problem han they told me that something strange was happening because the execution is normally immediate in the Metatrader platform. They told me that technical people would solve that problem and to try the platform the day after. The day after I had the same delay (5 min.) so I closed the account immediately.

Imagine you have placed a limit order near a breakout level, and prices start moving against your prediction, so you change your mind and you cancel the limit order .... waiting 3 minutes to have the cancel order executed is completely unacceptable.

I do not recommend this broker unless you are trading in a daily chart or bigger timeframe.
 
Krell,
China,
Sep 25, 2008,
Guest

SCAM!!!
Don't open account with GCITrading.
COnfirmation of order takes minutes (becuase they are manipulating)!
 
Tarsem Singh,
India,
Jul 1, 2008,
Guest

Most UNRELIABLE CO. with total MANUPLATION of Rates, at its own end, to steal money from a/cs of all sizes. GCI gives a rate on platform, which had never existed in the market. Dealing Desk totally dishonest, Slippage can be adjusted according to their wishes. If a trader can earn out of GCI, it may be due to his luck only. I have never seen a Co. worst than GCI. Customer support is an eye wash. Prompt payment is also an eye wash, being done only to the extent of 2% to grab rest of 98%. A good no. of Scams can be proved with ticket no.s.
 
Adrian,
Romania,
Jun 17, 2008,
Guest

don't open an account with them, they are ajusting your accoutn as they wish, just ajusted my account with -3000 usd, becouse i was scalping, unbilivible, and requoting will take them ap to 5 min, worst broker ever
 
Oltciter,
Romania,
Jun 6, 2008,
Guest

I 'm sorry to say but GCI is nothing else than a big scam
I had an order with a SL at 20 pips distance and the platform exectuted that SL at 84 pips on eur/usd pair.
I work with other three brokers and that is not happening even the volatility is very very high. The SL order is executed on time and at its value.
I want to withdraw all my money from this scam and liquidate the account.
 
Jonte,
Sweden,
Feb 1, 2008,
Guest

I totally agree with the last few reviews, most of the complaining seems to be from people with basically no knowledge or people scalping/trading news, this broker is NOT for that kind of trading and you will most likely hate them!

However if you trade on a longer timeframe and don't have any problem with a slippage of a few ticks then they are great! (show me a broker without commission and slippage, it does not exist)

Also their payment department needs a special mention, I have never had a withdrawal being made as fast as these guys do it, that's a great plus!
 
aayub,
india,
Dec 8, 2007,
Guest

GCI is a scam broker. They offer attractive rollover/cost of carry rates for some Forex pairs, then claim there was a technical error and make an adjustment to your account.
They also ignore your e-mails/message when you question the charges.
 
treblig,
Newfoundland, Canada,
Nov 27, 2007,
Guest

This particular review comes after sending in a withdrawl request for money via a signed and faxed copy of their withdrawl request form.

To my amazement the money showed up 20 minutes later in my paypal account. A fee was deducted by paypal as usual but none by GCI. Again, I'm pleasantly surprised and can't imagine money being transferred any quicker.

I still have issues with getting fills in fast moving markets like the Hang Seng, and slippage is a little excessive but if you don't scalp then this really isn't that big an issue.
 
Piet,
South-Africa,
Nov 18, 2007,
Guest

I can't believe people out there they make all these statements "Scam"
If you don't know how to trade don't blame it on someone else. Have been trading with GCI for two and a half years have no problem with them at all. Always get my funds in no longer than 2 days.