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
Forex Peace Army
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Traders Reviews

UK, United Kingdom,
May 6, 2021,
Registered user

Not your very typical broker.

Service use: Live

Length of use: over 1 Year

I left a review with GCI some few months ago and I promised to update it with time. Apparently the 4 digit server which gci gives clients are actually market made so in other words, there is a dealing desk so when you make money on that server, be sure you will be stopped! GCI gives this as default to clients because they are very aware 80-90% of traders will face so the odds is good for them. I won't penalise them for having a business strategy but I still find it not ethical to open up.

So, after about a year with GCI, I started introducing some of the people I train to them. They then got unhappy and increased the spreads. I was averaging 50 points on EURUSD! I contacted my account manager who said they will look into it. They never really did although he came back to me that it was sorted. When I left, they contacted me that they would like to set up a "win-win" deal between us which sounded like a good idea but after over a month I just do not think any serious win-win situation will will come handy. It took several weeks , in some cases over a month for most of the trainees to get back their withdrawals.

In short if you are into trading to make money (which I am sure it is why you are trading in the first place) DO NOT TRADE GCI's 4-digit (normal) currencies. Use the ECN server which has 5 digit currencies. That said, given the poor nature gci is organised (it does not operate as your normal broker and after all this while I am still not sure who/what they are really.I knew and concerned was I was making money) If you therefore wants a ECN broker to work with and not need to take advantage of 4-digit feed, then I will not see why you will go to GCI when you have IC Market, FP market and the rest who will give you fantastic customer support and true ECN connection. There are thousands ECN's now. I really will not see why you will go to a company with not even consistent online support?

So this is my honest, final opinion about GCI. For me, I am done with them and I will not recommend if you are into trading to make money.

Thank you

Dec 4, 2020 - 4 Stars I have been using this broker for just over a year now. I started trading with them in September 2019. I must say that at the start I was worried about the reviews i saw here but Jacques was kind and very professional in answering my questions and was very honest. In short, I will admit they have other areas they need to improve on, but overall I am happy and have even recommended them to my brother, who is also a good trader. They have one of the best feeds, no commission, and quick execution. So here is my review in detail...
Pros:
1. In my opinion, like someone else said, you will hate GCI if you are not a genuine, true trader. By this I mean someone who can read charts, interpret indicators accurately and take trades with confidence and not scared to lose on some trades. Their platform is designed mainly for positional/medium/long term trades. Strategies such as scalping are not allowed. You must speak to your account manager and seek clarifications if you are not sure of anything. Secondly, if you are into manipulative trades such as swaps trading, latency arbitrage etc you should also not consider using GCI (In fact you will hardly get any broker who allows that anyway). They allow indicators BUT no EAs. This is where i think a few of people are also missing it. Again, given scalping is not allowed on their platform, it makes sense to know that EAs are a no no. Personally, my trading strategy looks at Supply and demand interplay, with few good indicators and a look into how futures market is playing out. For me, I think they have a very amazing price feed and conditions if you really know what you are doing as a trader.
2. They pay. I have withdrawn thousands of dollars from GCI in the last year i have been with them. I have prove for this. Yes, I mean thousands, not hundreds. This is no way to brag but to let you know that if indeed you are into genuine, manual trading, you shouldn't have problem with GCI when it comes to payment. I haven't had any issues so i wont know but i suspect gci refuses payment because of some of the issues i have raised above

Cons:
1. I am in the UK but for some reason, deposits and withdrawals cannot be done with any of the popular gateways such as PayPal, skrill etc. This used to make depositing and withdrawing very difficult. Lately, I have been using bank transfer which appear to make it better. Currently, i am able to deposit and withdraw in roughly 3 days which for me, is ok. My only problem is that the bank rate used in the exchange appear to be higher than i expect and there are no indications of any extra charges. I have sought clarifications on this and still waiting to know why their bank charges/exchanges so high?
2. Their online support is not great but so far my account manager has answered all my questions.

I will be updating this review as things go but as things stand, this is my fair, honest experience with this broker. Thank you
 
Tjahja Sanggara,
Jakarta, Indonesia,
Apr 13, 2021,
Guest

Withdrawal Done

Service use: Live

Length of use: 6-12 Months

After 5 days i posted about my problem here, my withdrawal sent.
To FPA admin please delete my posting before

Apr 8, 2021 - 1 Star I was trading with deposit 500$ by skrill and now my account growing to 3401$, then i was ask and sent form for withdrawal. Until 20 days still no transfer to my skrill. Was chated also 4 days with 2 differnet agent but only ask me for email again and waiting.
 
Forex Peace Army
Review moderation team note
How a company handles complaints is very important information for potential clients.

The FPA doesn't remove complaints.  The FPA is happy to post updates when a complaint is resolved.  We are glad you eventually got your withdrawal.
Munich, Germany,
Dec 24, 2020,
Registered user

Not reliable broker

Service use: Live

Length of use: over 1 Year

I think. GCI is a scam. I asked them some days ago about sending me a statement about deposits and withdrawals, but they simply don't answer. I think, they are not even interested in answering any mails.
You should not give them there money or you will have only problems!

When you try to write to GCI, they say, that their mailboxes are full! Very interesting ;-) This seems not to be a very trustful broker :-) -------- I'm sorry to have to inform you that your message could not be delivered to one or more recipients. It's attached below. For further assistance, please send mail to postmaster. If you do so, please include this problem report. You can delete your own text from the attached returned message. The mail system <abuse@gcitrading.com>: host emailsrv.gcitrading.com[192.185.21.206] said: 550 Mailbox is full / Blocks limit exceeded / Inode limit exceeded (in reply to RCPT TO command) <ib@gcitrading.com>: host emailsrv.gcitrading.com[192.185.21.206] said: 550 Mailbox is full / Blocks limit exceeded / Inode limit exceeded (in reply to RCPT TO command) <trading@gcitrading.com>: host emailsrv.gcitrading.com[192.185.21.206] said: 550 Mailbox is full / Blocks limit exceeded / Inode limit exceeded (in reply to RCPT TO command)
 
Reply by GCI Financial Ltd submitted Feb 5, 2021:
GCI Financial is here addressing the Dec 24, 2020 comments from ronaldo_rene:

A. Please note that the following email addresses
- abuse@gcitrading.com
- trading@gcitrading.com
do not exist.
You may want to access https://www.gcitrading.com/about-gci/contact for details on our email addresses. Relationship Manager email addresses are not referenced in this "contact" page.
Email address ib@gcitrading.com is also operative with no detected incidences.

B. We do acknowledge that GCI response time was not good enough. We nevertheless find totally unfair to rate a company as "scam", being GCI or others, because of delays in replying a non-urgent email just prior to the holiday season.
It also appears that our GCI Relationship Manager Edgar, who offered on several instances to have a call over the phone with our client Mr René N., was unfortunately not put in the loop immediately.

We trust that the thread here below speaks for itself.

Best regards,
GCI Financial Team

" From: EA - GCI Financial Ltd. [mailto:ea@gcitrading.com]
Sent: 07 January 2021 13:12
To: 'ronaldo@****.de' <ronaldo@****.de'>
Subject: RE: Answer from GCI 85***mt

Dear Mr N****,

I trust that this email will find you well, regardless of Covid taking a toll on Germany these days...

May I ask if the document and instructions provided in my email here below did properly answer your request? Kindly let me know. Again, please advise if you wish to have a call over the phone at your own convenience.

I am also taking this opportunity to wish you here a Happy New Year for you and your loved ones.

Best regards,
Edgar

Edgar Antoine
GCI Financial Ltd.
Direct Phone: + 1 800 316 2412
www.gcitrading.com

Celebrating 19 Years of Excellence
follow us on

From: EA - GCI Financial Ltd. [mailto:ea@gcitrading.com]
Sent: 28 December 2020 14:58
To: 'ronaldo@*****.de' <ronaldo@*****.de>
Subject: Answer from GCI 85***mt
Importance: High

Dear Mr N****,

Edgar here, your Relationship Manager. Kindly apologize these delays in getting back to you.

As mentioned by GCI Payments Dpt, company policy is to not provide statements directly but rather have our clients being able to generate them from their end and at their own convenience. There are several reasons for that, one of them is to avoid potential issues related to sending files by email that can sometimes weight tens of Megabytes. I understand that this is not the case here.

Regardless, I do share the same perception as yours and do acknowledge that your enquiry has not been addressed in a timely manner. GCI has been experimenting a pic of business activity that explains, at least partially, these delays.

Now, addressing your request, I took the liberty to pull your statements from 1st January 2016 to 31st December 2016. You will find them herewith attached in a .pdf file. Please let me know if everything is in good order.

Looking forward, should you wish to pull out other statements, please access your MetaTrader trading platform itself:
- From your Terminal, choose “Account History” tab and do a right-click.
- From the pop-up window, please select “Custom Period…”.
- Once you have input the period of time you want to pull your reports for, do “Save a Detailed Report”.

Please feel free to contact me at any time directly by email if you need further help with reporting or any other topic. Also, please let me know if you wish to have a call over the phone at your own convenience.
Wishing you an excellent week ahead.

Best regards,
Edgar

Edgar Antoine
GCI Financial Ltd.
Direct Phone: + 1 800 316 2412
www.gcitrading.com

Celebrating 18 Years of Excellence
follow us on

From: Rene <ronaldo@*****.de>
Sent: Thursday, 24 December 2020 12:41
To: payments@gcitrading.com
Subject: RE: Deposit / withdrawal statement regarding my accounts

Dear GCI,
it's really poor, that I cannot access on my account reports, when trading is closed.
I simply cannot access to my reports and your website is not very intuitive.

Well, I will make a conclusion of this behaviour in public sites about brokers.
It's simply not acceptable what you offer to your clients.

To help is not your strength, I think. To take money, probably yes.
Thank you very much for your big help!!!
Btw: Other brokers are able to send reports if you ask them. So your service is one of the worst I've ever seen!!!

Regards,
René N****

Am 2020-12-24 19:13, schrieb payments@gcitrading.com:

Dear Sir:

You have to log into your account, locate the reports tab and enter the date range.
If you require live help, please click on "Live chat" on our web page.

Note the Closing & Opening hours for the holidays:
Thursday, December 24, 2020: Early Close at 13:00 (1:00PM) EST
Friday, December 25, 2020: CLOSED
Sunday, December 27, 2020: Regular Open

Best,
GCI

Closing & Opening hours for the holidays
Thursday, December 24, 2020: Early Close at 13:00 (1:00PM) EST
Friday, December 25, 2020: CLOSED
Sunday, December 27, 2020: Regular Open

From: Rene <ronaldo@*****.de>
Sent: Thursday, 24 December 2020 11:50
To: payments@gcitrading.com
Subject: RE: Deposit / withdrawal statement regarding my accounts

Dear GCI,
thank you for answering me after one week now :-)

Would you be so kind and describe me, where I can find these statements for 2016?
Thank you and regards,
René N*****

Am 2020-12-24 18:45, schrieb payments@gcitrading.com:
Dear René N****:

Kindly note that your GCI does not send monthly or annual statements. Your account has real time statements built in.

You are able to run your own report for the time range you wish.

Regards
GCI

From: Rene <ronaldo@****.de>
Sent: Thursday, 24 December 2020 8:56
To: info@gcitrading.com
Cc: ronaldo@*****.de; trading@gcitrading.com; techsupport@gcitrading.com; ib@gcitrading.com; payments@gcitrading.com; abuse@gcitrading.com
Subject: Re: Deposit / withdrawal statement regarding my accounts

Hello GCI-support,

what is wrong with you?

I requested a statement regarding my live accounts there for 2016 and didn't get any answer. Do you really want that I complain at your regulation authority and give you a bad rating at Forexpeacearmy?

Please send me the statement now or I will write you every week a mail about this.

This is not very serious from a broker not to give statements for their customers!

Regards,
René N****


Am 2020-12-18 20:23, schrieb Rene:

Dear support,
for my tax department I would need a statement / report about my payments / deposit and withdrawals for the year 2016 for my live accounts?
I think, there is only one live account number (85***)
I am registered with my login-account ronaldo@******.de at GCI Trading.
Could you send me this information by mail, please?
Thank you in advance and kind regards,
René N*******
"
Mianwali, Pakistan,
Mar 19, 2020,
Registered user

king of cheater broker gci

Service use: Live

Length of use: 3-6 Months

i open an account and refer my friends, they also open their accounts, when we go in positive equity they cancel our positive equity and next day they empty our accounts, they didn't come on live chat, they remove our account's history, very cheap and third class broker, they are not giving us even our initial funds, no one can ask them.
 
LEUSHUN,
ONTARIO, Canada,
Feb 6, 2020,
Guest

GCITRADING = SCAMMERS

Service use: Live

Length of use: over 1 Year

THEY ARE A BUNCH OF SCAMMERS. I DEPOSITED MONEY IN THE ACCOUNT THEY MENTION ON THEIR WEBSITE. IT WAS NEVER DEPOSITED IN MY ONLINE ACCOUNT. THESE PEOPLE ARE CROOKS. THEY TOLD ME THEY NEVER RECEIVED THE FUNDSAND STATED THAT THEY CLOSED THE ACCOUNT AFTER I ALREADY SENT IT

DO NOT TRUST THEM. THEY DONT HAVE A REGULATORY BODY AND WILL NOT HESITATE TO SCAM YOU
 
Toronto, Canada,
Jan 23, 2020,
Registered user

Gcitrading is a SCAM

Service use: Live

I sent them funds to add to my account and they claim they never received it. My bank already confirmed that it is in possession of the gcitrading's bank and showed me documents from gci's bank (Santander bank in poland) but they refuse to acknoledge that they have received the amount. It has been 3 months now. DO NOT TRADE WITH THEM. THEY ARE SCAMMERS AND WILL PRETEND THEY NEVER RECEIVED YOUR MONEY EVEN IF IT IS IN THEIR BANK'S POSSESSION !!! The Account manager Jacques Debruyne is part of these scammers. I could see a review dtating his name. He too is part of them and will refuse to reply to your emails !!!
 
Germany, Germany,
Jul 1, 2019,
Registered user

Is GCItrading SCAM? Does GCI Financial operate a SCAM platform?

Service use: Live

Length of use: 0-3 Months

Yes. At least they scammed me in those dimensions:
- They tricked me into business with unrealistic swap rates.
- They used last minute swap rate change as extra fee, while their frequency and amount of swap rate change was out of normal.
Those are my conclusions. I by hard encourage you to draw your own conclusions.
Ok, let’s get started with what happened:
GCI Trading offers ECN and non-ECN-currencies to be traded and a good months ago I realized that their swap rates are quite different. I became curious, if this allows for swap arbitrage trading. So, I coded some tooling to export all swap rates and did a full export to file on 2019-May-02. Here are two examples:
Pair Currency1 Currency2 SwapLong SwapShort
AUDUSD AUD USD 3.25 -8.5
AUDUSD.s AUD USD 3.5 -7.5
EURGBP EUR GBP -2 0.2
EURGBP.s EUR GBP -5.95 3.5

This was really exciting. This says, if you buy a lot EURGBP and sell a lot EURGBP.s, you will pay 2% swap, but get 3.5 %. So, you end up net-getting 1,5 % swap by just opening that kind-of-hedge-position. Since the base for swap is not any margin but 100.000 USD or Eur per lot per year this is quite some money. I was really astonished and wondered if I made a thinking mistake and how GCI trading is financing that on their side. So I extra checked and confirmed that my swap export correlates to what Metatrader is showing in specifications and I did a little test and opened those positions on a Thursday:
Open Time Type Size Item Price
02.05.2019 15:18 sell 0.01 eurgbp.s 0.85771
02.05.2019 15:18 buy 0.01 eurgbp 0.8580

And really, swap for eurgbp.s increased slightly faster than it decreased for eurgbp. The three days swap for eurgbp.s comes in on Wednesday and for eurgbp Friday. That said after Friday there was a dip in that swap arbitrage net gain which got healed on Wednesday.
On Thurday I was really thrilled. My test was successful. It showed me, that after 20-30 days that extra swap would over-compensate my initial investment to open those positions with paying a good amount of spread. Another learning was how to open positions to play on the save side in terms of adding own margin on top of the CGItrading margin. Also – since the test was successful – I made up myself some explanation how GCItrading is financing that. The explanation for myself was, that they just ordered on different markets in the backend. I mean, I tested that. What else can I do?
Already while the test was running (and while it looked more confirming from day to day) I captured swap rates another time on 2019-May-06 (Monday). I was wondering, if there was another currency set with an even more profitable swap difference. Here is another extract from that day:
Pair Currency1 Currency2 SwapLong SwapShort
AUDUSD AUD USD -3.85 -0.25
AUDUSD.s AUD USD 3.5 -7.5
EURGBP EUR GBP -2 0.2
EURGBP.s EUR GBP -5.95 3.5

And, wow, look at that: Selling AUDUSD and buying AUDUSD.s gives you 3.5-0.25=3.25. This is very compelling. Rendered break even for that is definitely <20 days. Go for it.
On Thursday, 2019-05-09 I opened following positions:
Open Time Type Size Item Price
09.05.2019 15:51 sell 0,01 audusd 0,6988
09.05.2019 15:51 buy 0,01 audusd.s 0,69904
09.05.2019 15:57 sell 0,01 audusd 0,6989
09.05.2019 15:57 buy 0,01 audusd.s 0,69905
09.05.2019 15:58 sell 1,00 audusd 0,6989
09.05.2019 15:58 buy 1,00 audusd.s 0,69908
09.05.2019 16:06 sell 17,18 audusd 0,6992
09.05.2019 16:06 buy 17,18 audusd.s 0,69946

Quite some ‘wood’. And guess, what happened. The next day there was NOT ANY positive swap in my account for those AUD-USD-pairs. This is the extract from my swap rate export on that Friday, 2019-05-10:
Pair Currency1 Currency2 SwapLong SwapShort
AUDUSD AUD USD -4,5 -0,5
AUDUSD.s AUD USD -4,5 -0,5
EURGBP EUR GBP -7,4 0
EURGBP.s EUR GBP -7,4 0

So here is the swap rate tracking for just the AUDUSD currencies:
Date Currency SwapLong SwapShort Date Currency SwapLong SwapShort
2019-05-02 AUDUSD 3,25 -8,5 2019-05-02 AUDUSD.s 3,5 -7,5
2019-05-06 AUDUSD -3,85 -0,25 2019-05-06 AUDUSD.s 3,5 -7,5
2019-05-10 AUDUSD -4,5 -0,5 2019-05-10 AUDUSD.s -4,5 -0,5

Come on! Two changes in 8 days. Really? 7.25 % difference in 8 days for AUDUSD swap long. What? Going nuts? In developed countries such as US and Australia swap rates are very much bound to reference rates from central banks. Those usually go in steps of 0.25%. A 7.25% change would indicate a century world crisis. No such thing happened in the last months. That rate change is somewhat Utopia.
I am doing also trades with another provider for the last couple of years. AUDUSD gave and gives >5% swap on the long side for as long as I can remember, but definitely for the last 6 months. Today (2019-06-03) I doublechecked: It is still 5.8% swap long for AUDUSD on their end, while GCI trading still goes for -4.5%. Again, draw your own conclusion. My conclusion is: GCI trading is raising swap for their extra income, totally decoupled from the market. Do not fall into that trap! I mean, even if you do not do swap arbitrage, but just ‘standard’ trading, they likely add extra fees on your shoes hidden under the label ‘swap’. And before doing so, they tweak their numbers to make you invest your bugs.
So that for me is swap scam. On 2019-05-10 I closed all positions and sent them a request to claim all my money back to my local bank. On the request I put the issue. There were some discussions going back and forth. In the chain of argumentation they gave me back the 26 Eur swap they charged me in the original trades. So now they are arguing about to be very customer friendly ignoring deliberately that I would not have done any deal with them if their swap rates would not have made me believe swap arbitrage would be possible there. They still hold back those 751.73 Eur, that they robbed from me as spread by tricking me into business with fake swap rates.
This article is there for helping you to conclude own decisions. Hope this helps. Do not let yourself getting tricked by the same SCAM!

More. Community discussion of this issue >>

 
Canada,
Mar 9, 2018,
Registered user

Jacques @ GCI

I also give a very positive feedback about Jacques. I have been interacting with him since March 2015. In all respects, he is a very attentive and professional GCI representative. And for the record, since this also appears to be a major concern on the forums, I confirm that I have made a few withdrawals from my trading account in 2017 and a recent one in 2018. All payments have been received.
 
Canada,
Feb 5, 2018,
Registered user

Hello,

Everything is back to normal. I have been in direct contact on live chat and over the phone with Jacques Debruyne. He could help liaising with GCI Funding Dpt so this issue with the bank (the issue was not with GCI itself) could be resolved. My funds have been returned and I will send them again shortly. I ended up being most impressed by Jacques’ professionalism and positive approach. Case solved.

Thank you,
Chris
 
Toronto, Canada,
Nov 29, 2017,
Registered user

GCI TRADING SCAM FRAUD COMPANY

GCI TRADING SCAM FRAUD COMPANY

Hello,

I've been trying to get my money back from this company for over a month now. I have emailed my account manager { Jacques Debruyne ) his email is: { jacques@gcitrading.com }numerous times, spoken numerous times on their Live Chat. They keep telling me that they are looking into it but it is all lies. The amount is $1,100 USD. Now I know that's not a lot of money but still it is my money. Can anybody help me on how to get my money back? I don't know what to do. Thank you for taking the time and your consideration in reading my post. I appreciate it. Here is more information on: Jacques Debruyne
Head of Sales
GCI Financial Ltd.
Direct Skype: gci.french
Direct Phone: + 1 800 604 2412
WhatsApp: + 507 62 51 3400
www.gcitrading.com

Best Regards
Chris
 
ZK,
DUBAI, United Arab Emirates,
Apr 14, 2017,
Guest

FRAUD COMPANY

This is a total scam company, there is an Roger, I think there is no one else who works there. Thy are not regulated by any authority FINRA or FCA.
When you try to withdraw they open a loss position themselves and you will never get your money.
 
gujrat, India,
Oct 3, 2016,
Registered user

gci trading 100000% scam company

its fully scam company dont invest your money in this company .
GCI trading company is 1000% scam with clients and client have only one way die ....
do you think this is better
i have all proof against this company scam
 
Maham Saeed,
Pakistan, Pakistan,
Mar 17, 2016,
Guest

Great broker , working with more than 1 years , I have got withdrawals more than 10 times , fair rates , honest and committed broker.

2015-10-07 15Star Hi

I am working about more than 7 months with this nice and great broker gcitrading.com , I have got many time withdraw without any issues , I see many other users giving strange comments about this great broker,

Good execution, real time move , Great staff , Great service..

Best regards

Maham Saeed
 
Yasir M. Yasin,
Jeddah, Saudi Arabia,
Aug 11, 2015,
Guest

Trading platform is good but mobile trading is not, some times it doesn't open. duration of transferring fund (withdrawal) is good & customer service is excellent.
 
Alex,
, Malta,
Aug 6, 2015,
Guest

It is unfortunate situation that here we read comments only from clients who have had unfavorable experiences, with some of them missing proper trading knowledge and lacking full trading process understanding, as I can see. Where are tens of thousands of happy clients? They are of course trading and making concrete experiences of either making profits or learning from their mistakes!
Just by simple deductive reasoning, it is more than obvious that GCI would have been out of business long time ago, had many clients experienced such adverse conditions as listed here! I have myself recommended many clients to GCI and besides minor issues, never heard any similar feedback compared to content herein.
I have 10 years of experience with GCI and if anybody needs a truly open live debate, based on facts, I am willing to enter this process with very strong arguments, results, customer care feedback, charts reliability, and especially the performance of trades execution. After having thousands of trades closed, I find myself extremely competent to discuss the matter thoroughly.
In fact my satisfaction is so pleasant, I am now managing a fund thru GCI, and looking forward for many more fruitful years to come.
If you treat GCI right, make your complains professionally and be open to discuss any issue with dignity and patience, the feedback will astonish you. For the end, I want to confirm that I am in no way connected to any ownership structure of GCI, I am just an extremely satisfied professional client of this top brokerage company. Any questions, just ask!
 
Wollexie,
Lagos, Nigeria,
May 1, 2015,
Guest

GCI deactivated my account without any prior notice because I made profit,,, Scam broker
 
John,
, Switzerland,
Dec 29, 2014,
Guest

Check on the Name of Mitch Vazquez before You Open an Account with his Broker!
 
Davis,
Ontario, Canada,
Dec 11, 2014,
Guest

Did anyone notice how the gold at gci move about two weeks ago. It went up almost 350 pips then crash in a matter of minutes. I have compared to other broker's mt4 none moved like that I even googled to make sure if there was something in the news. Nothing, it looked like some a****** manipulated it. It was a demo but THIS COMPANY IS A F***ING SCAM. STAYYYYYY AWAYYYYY !
 
Kemar roach,
Bangladesh, Bangladesh,
Nov 14, 2014,
Guest

Actually, I am staring to use this broker from 2010. I have opened my live account with 30% welcome bonus that was very helpful for me. By the way, the most important point is, GCI is really very honest about their pip spreads calculation. Their technical analysis and daily fundamental repost was very exceptive for me to learn who can I make accurate market analysis. I am very happy that ‘GCI’ provides me 4% interest on my trading balance. I am enjoying their auto withdrawing service. As a scalper, I am very happy with their narrowest trading families. I have been trading in Forex with ‘GCI’ from 2010. But, I never face any kind of problem with this trading platform.
 
Samo,
, Slovenia,
Mar 13, 2014,
Guest

I traded with GCI from May 2013. Suddenly, in the beginning of February 2014, GCI disabled my account.

With live chat and 6 e-mails I accomplished nothing. Basically they said my trading style can be done on their ECN only. I said OK. So, they changed the feed to ECN and enabled my account with the correct balance.

Everything looked fine until I made a withdrawal request, and GCI, instead of paying me, took away almost all of my profits ($13.836,30).

Evidently, you can never be sure with this broker. Even if you are trading for a year or so without ANY complain from their part, you never know if you will be able to get your own money back! Well, if you lose, there are no problems, but if you profit, they steal your money, like pirates.

GCI did exactly the same thing with my wife`s account.

 
Mr. George,
Vancouver, Canada,
Jan 20, 2014,
Guest

Do not. AND I MEAN, DO NOT OPEN AN ACCOUNT WITH THIS COMPANY. Take your money and go on vacation, drink it, piss it, snort it away, but whatever you do, do not deal with this company. The execution of their trades is a scam. I'm amazed they haven't been shut down. When I tried exiting winning trades, they would hold my orders and always requote my orders.
With so many descent brokerages out there, trust me, GCI is not a good place to trade.
 
mmkreddy,
hyderabad, India,
Oct 2, 2013,
Guest

when ever we make a profit they will not add to client to take the profit always trys to adj as some technical problem. i can say its is bad service they only give you penuts in profit.
 
Ryan Wissenk,
Calgary Alberta, Canada,
Aug 11, 2012,
Guest

Downloaded the demo and it went fine. I enquired about opening a live account and they called me a few times. Found out that they are not a regulated broker and there was just something about the guys that called me that made me feel suspicious and after reading the posts here I am sure glad that I did not take the bait.
 
Darren Desjarlais,
Calgary, Canada,
Apr 27, 2012,
Guest

Looks very shady to me, I have been using the demo account, but when a firm is willing to add $1000 to your account for opening a live account with only $5000 in, and give you an ipad3, it smacks of F#%$ing SCAM with a Capital S! What do you think?
 
Thomas Dale,
Ontario, Canada,
Aug 15, 2011,
Guest

I was given a demo account to try our the trading systems at GCT Forex Trading. The account was quick and accurate at the point of entry and exit of trades. They were offerinfg20% gift s to money transfered to a live account. On the online account every thing is diferent than on the demo account. I placed the order at a set market price,. Instead of immediate fill at the entrance price your order was put on PENGING in a few minute a message offers you a price well above or below your entance price and if you do not ake the oder your order is nullified. If you do take the offer and you Limit praces is reache the order is ignored and you do not get your profit by default. They give no reason for not filling your oreder or cancelling your order. Any order to sell at a given price and again a message comes with an order well below tyour limit set and n five seconds your oder is cancelled and now you are stuck floating in an impossible way to cash in your order. You either take their price our nothing will be done to buy or sell at the forex market price. It is a complete scam., I also never gote the 20 % gift of money on opening the account.
 
Gurjeet,
India,
Jul 22, 2011,
Guest

A lot of my positions haven't been closed whose prices were not only met but exceeded. I have saved printscreen images of the same and I would like to raise the issue to the Authorities. I would also like to go to the extent of suing the firm for their negligence causing me unnecessary tension and anxiety.
Citing one case: Order Number 800426.
Short 0.30 lots Bunds @127.54. take profit @127.39.
20 minutes later Bid:127.34 / Ask:127.37
10 minutes later Bid: 127.35 / Ask: 127.38
Position still not closed.
Above all this, they charged me heavy swap charges for the same.
This is one of the cases. Currently, they owe me about $220 for the current positions that are on and for earlier cases like this, I think they owe my about $1150.
 
Adam,
Fountain Valley, California,
Jun 15, 2011,
Guest

I am glad I read this. I almost opened up an account to trade gold and crude. I cannot believe that they are still in business.
 
patrick nottage,
bahamas,
Apr 13, 2011,
Guest

Gci International, in my opinion i a BIG scam,first of all i open my account with no application that was easy with $125.00 visa , u think good i have an account and the lot size is small $25, then i ask for my fifty dollars bonus and they gave it to me cool and im very proud of this company,i practised on an demo account with thier mt4, i also have a fxcm account..THE BEST. and a fxdd live account, And what i experienced is at 8.24 and 8.29 am if i place a trade on my live account on thier station on the euro/dolla the currency goes in the oppisite direction from everybody else about 30pips then it comes back, and on thier own demo mt4 it trades the same direction as everybody else i call it SCAM HEDGING thats probly the governments cut out the deal,the other problem is u get an order fill in about 80pips after you place a trade on the heng seng or cfd it goes through after awile i call it 2 WEEK VACATION ORDER and if you are winning a trade and you want to take the profit the trading station shuts down this happens every day. Thats not bad because THEY'RE ON A LUNCH BREAK then they turn it back on 1hr later dont think you gonna meet your winning trade still in action they let you win a few ,,oh by the way my account got wiped down to $24.95, maybe because i did make about $1500 on my $125 investment and they didnt like it, thats when the
FREDDIE CRUGGER movie starts to get excited with thier trading station it was a nightmare for me in the bahamas, so i supposed they split the money and bought lunch with my investment,,, i guess everybody has to eat right..
 
Adam,
saudi Arabia,
Feb 5, 2011,
Guest

It is a big scam and Fraud I lost more than $20,000. Avoid Avoid
I experienced different types of actions that led to my loss such as not fill order on time.
 
Rahimi,
Austria Vienna,
Dec 10, 2010,
Guest

In ebusiness trading including CFD and FOREX the price and trading should be executed in real-time. But GCI company delayed some instruments of my trading such as NZD/Dollar, Gold/dollar and Dollar/SEK for about 20 minites so that I lost about 2000 Euro in trading.
The company also changed 2 Item of my trading report (such as bonus). The company also deleted my previous account with all its report and money inside it. How can I take my money back or claim?
 
Qamar Ali,
Jeddah, Saudi Arabia,
Dec 23, 2009,
Guest

Hello, I opend live account with GCI , AC. No. 37669, (Meta Trader CFD). I earned 9000 USD from them but they cut almost 7000 usd from my account ( at that time i had opened 15 forex lots with 12000 usd profit also.) They cut 7000 usd from my account and asked me that it is off mkt qutes you trade. They alos cut all of my open positins from my account. After very long disscussion , they give me 5 lots open but in next few days, they loss all my aacount. Whenever i placed order , they wait , until it go in loss , then give fills. my one order even they fill after 20 minutes. And you know the 20 minutes late fill in fx mkts. Is there any leagal way , that pay me my that amount which they cut?
 
Sibali,
Pakistan,
Oct 21, 2009,
Guest

GCI... don't call them Scam...It's a small word, They are Cheaters, robbers. They Simply take your money when you earn.
IFSC do nothing. They must be partners.
Don't even think about opening an account with.
I request you people to help me. They took 20000 USD from me.
 
Luckie Macdonald,
NZ,
Aug 25, 2009,
Guest

The demo system is nothing like the live platform.
Be warned try someone else.
Anyone out there have a decent broker??
 
Tan,
Ukraine,
Aug 3, 2009,
Guest

GCI Financial is a scam, fraud. You will be happy with them until you start actually earning money. For THREE months www.gci.ru (http://www.gcitrading.com) do not want to pay $1200 I earned strictly in accordance with my agreement with them. IFSC http://www.ifsc.gov.bz/licensed_provider.html#f to which GCI refers as to regulator does not do anything. Just think twice before you open account with GCI.
 
A.K.,
Germany,
Jun 28, 2009,
Guest

If you are losing money they are nice, if you win they are " adjusting your account to zero at least; never try to deal with GCI Belize!!!!!

Account: MT4 me:XXX Currency: USD 2009 June 26, 15:59
Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
69335 2009.05.05 13:00 balance Adj: scalping reversals -1 345.45
 
Lynda,
Ottawa,
Jun 27, 2009,
Guest

Issue escalated to Traders Court RESOLVED FPA Scam Confirmation against GCITrading.com | RESOLVED
FPA Scam Investigations Committee Update 2013-01-24: GCI and this client have reached a mutually satisfactory agreement. The FPA considers this issue to be fully resolved.

I WAS AN IB for GCI for 5 years.....All of a sudden they cut me off without notice owing me 12, 000.......Totally unethical

Scam Investigations Committee Note: The FPA was trying to help Lynda negotiate with GCI Trading over this complaint. GCI stopped responding to her and refuses to answer questions from the FPA.

2007-06-30 4 Stars Been dealing with gci for 3 yrs......highly recommend for swingtrading...any disputes r settled in honorable and honest manner...Admin is very good...dealing desk is good....except during volatile mkts....which is the same with any other broker....I am satisfied.....

More. Community discussion of this issue >>

 
Imran,
London,
Jun 17, 2009,
Guest

Absolutely shell shocked...this must be the scam of the game. These idiots will make us all rot and cry.
 
Rocco van Wyk,
South Africa,
May 13, 2009,
Guest

After my previous one star report the following happend with GCI. On a normal trade, not during a news session I hit my TP at 30 pips and it took about 2 to 3 minutes before they allowed me to exit and TP But 14 pips less on 16 pips and not my 30 pips. On a normal day and on GBP/USD This looks like a manipulated "slip" I checked on the minute scale and it was hanging around my TP for some time. No slips. And some more commentary on my previous post. They asked me to put everything in writing to a MR ESPJO. Well you guessed it, no reply. I had a deliver report on 11 May 2009 but no read report and NO REPLY. Not even saying they looking into it. Yes, NO CUSTOMER SERVICE from GCI. They do not have any HELP in case of a problem. They would only help you to get rid of your money. When making a deposit they act in seconds. With a problem, never. I want to say something bad about them here so that they have to contact me.But most likely they couldnt care less because they busy taking deposits and stealing peoples money. Oh that reminds me of a trade I did today.I had a TP of 40. It SLIPPED UP to 45 pips profit and when I tried to exit it would not but conveniently slipped to 39.5 pips (not my 40 which it was supposed to be) and then went its merry way in my original direction more than 70 pips.So I have to be happy to get 39.5 at least. But add all those .5 pips up of everyone.Where I am from its hard to change but Im moving away far from GCI. I am not giving these bad reports because I have made mistakes and lost all my money. As a matter of fact I am in profit BUT GCI "mistakes" cost me about 80 pips the last week.(Thanks to nice trades I find around information I found on Guys that gets 5 stars here) So I cannot trust GCI with any order. Whats interesting. When I started and had losses. None of these things happened. But as soon as I started to run into profit all these popped out. Now that makes me wonder. Therefore. Take my advice. Do not go close to this crowd. They waiting for you and your money.Well unless you are a loser. Then they will be your partner and friend.

2009-05-11 1 star GCI works when you stay on the demo side. Quick response helpful and to get your money into your account is like a dream. BUT.When you are trading live and you have a problem, you have a problem. Well I had. And I am busy with a case where the trade hit my TP and nothing happend. Then the trade turned against me and when I manually stopped it out to limit my loss at 19 pips they said I voided the transaction by changing the order. The original stop loss was 35. So they wanted another 16 pips from me and not just 19 :) And then they argued the trade turned 3 pips from my TP and I have screen shots where it went 3 pips passed. They try and wiggle themselves out of this one with the silliest excuses like I only reported it an Hr after it happend, why not right away? Its too late. WOW! After I repeated to them what they told me they said I'm twisting their words. I have it on black and white so they have very short memories too. And all seems to fit their pockets. Now I never tried to draw money. So now wish me luck with that. But I would not open an account with GCI or recommend them to anyone. I believe all the other bad reports on GCI on here.
 
A regular trader,
USA,
Apr 22, 2009,
Guest

The are a bunch of theives. If you loose money they love your business, the moment you make money you are a crook in their eyes. Find a different broker they suck
 
Austin muogbo,
Nigeria,
Mar 19, 2009,
Guest

I am a client of GCI Financial Ltd ("GCI"),i have a live forex account with them with acct number 1055(MT4) acct name:Austin Muogbo.I placed a trade on the 8th of October 2008 with ticket number1682. On the 9th of October 2008 GCI without my order or consent close my trade thereby putting me in loss of $82,000 after which the trade move only 7 pips and retraced back to my take profit.I wrote to GCI but they said nothing instead of refunding my money they decided to place the money back in a losing trade to wipe off my remaining balance without my consent as though I have
no right over my account.:)

The trade was placed with ticket number: 1682. on Wednesday 8th oct. and the trade was closed on thursday by GCI with balance of over $22,000.I wrote GCI to refund my account and not to re-instate the trade. Because the trade had already hit my take profit at 98.71. If GCI did not close the trade, it had hit the take profit.

I placed a trade which i did not close,therefore,I see no reason why GCI should close a trade on my behalf when I still have money worth over $22,000 in my account. Therefore the state of the account before their undue interruption and after your interruption should be put into consideration.


POSITION ON INTERRUPTION:see below

Ticket=1682
Open Time=2008.10.08 17:40
Type=sell
Size=35.00
Item=usdjpy
Price=99.01
S/L=0.00
T/P=98.71
Close Time=2008.10.09 04:34
Price=101.41
Commission=0.00
Taxes=0.00
Swap=0.00
Profit=-82 832.07.

The price only moved seven(7) pips up and came down to hit my take profit.I
was watching so closely.
I never requested for re-instatement of the trade, but of my account to be refunded including the profit. (Please direct me on how to send all the evidents to you)

Please i want you to intervien in this Knowing that this is my hard earned money.I have been communicating with them since but they promise to do something but since then nothing has been done to remedy the situation.I shall be happy if my case is properly looked into.
Thanks in anticipation

Austin Muogbo
Account number 1055(MT4).
 
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.