G7FX.com Review
G7FX.com is a regulated online broker that offers a wide range of tradable assets including forex, CFDs, stocks, cryptocurrencies and more. The company is headquartered in the UK and is authorised and regulated by the Financial Conduct Authority (FCA).
G7FX.com offers its clients a choice of two trading platforms; the MetaTrader 4 (MT4) platform and the G7Trader platform. Both platforms are available for desktop, web and mobile devices. The MT4 platform is a widely used platform that is favoured by many traders due to its user-friendly interface and wide range of features and tools. The G7Trader platform is a proprietary platform developed by G7FX.com which offers advanced charting, analysis and backtesting capabilities.
In terms of tradable instruments, G7FX.com offer a broad selection of forex pairs, CFDs on indices, commodities, stocks, ETFs and cryptocurrencies. The company also offer competitive spreads on major forex pairs starting from 0.6 pips.
When it comes to customer support, G7FX.com offer 24/5 live chat support as well as email and telephone support in multiple languages. The broker also have an extensive FAQ section on their website which covers all aspects of their services including account opening, deposits & withdrawals, trading platforms & instruments and more.
Overall, G7FX.com is a reliable and reputable online broker that offers a
Regulations
The GFX.com website is very clear about its regulations. It is a member of the National Futures Association (NFA) and is registered with the Commodity Futures Trading Commission (CFTC).
The website also states that it is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a good thing. However, we could not find any information about what specific regulations GFX.com adheres to.
The company is headquartered in Limassol, Cyprus and has offices in London, New York, Chicago, and Dubai.
GFX.com offers two types of accounts: Standard and ECN. The Standard account requires a minimum deposit of $500 and has a leverage of up to 1:200. The ECN account requires a minimum deposit of $5,000 and has a leverage of up to 1:100. ECN accounts have lower spreads but higher commissions.
The website offers the following instruments for trading: forex, metals, energies, indices, and commodities. All of these can be traded on the MetaTrader 4 platform.
GFX.com Pros:
– MetaTrader 4 platform
– Regulated by CySEC
– Offices in multiple locations around the world
– Two types of accounts available
Trading Platforms and Instruments
1. Trading Platforms and Instruments
The first thing that we noticed about GFX.com is the range of trading platforms and instruments available to their clients. There are three main types of accounts offered by GFX.com: the Mini account, the Standard account, and the ECN account. The Mini account is best suited for beginners with a minimum deposit of only $250 required to open an account. The Standard account is best suited for intermediate traders with a minimum deposit of $2,500 required to open an account. The ECN account is best suited for advanced traders with a minimum deposit of $10,000 required to open an account.
The three main types of trading platforms offered by GFX.com are the MetaTrader 4 (MT4) platform, the WebTrader platform, and the mobile trading platform. The MT4 platform is the most popular trading platform in the world and offers a wide range of features and tools to help you trade effectively. The WebTrader platform is a web-based platform that can be accessed from any internet-enabled device. The mobile trading platform allows you to trade on the go from your smartphone or tablet.
In terms of instruments, GFX.com offers a wide range of CFDs including forex pairs, indices, commodities, metals, energies, stocks, and cryptocurrencies. You can trade these instruments on all three of their trading platforms mentioned above.
Pros and Cons of G7FX
When it comes to online trading, GFX.com is a well-regulated broker that offers a variety of trading platforms and instruments. However, like all brokers, there are pros and cons to consider before opening an account.
The pros of GFX.com include:
-A wide variety of tradable instruments including forex, CFDs, and cryptocurrencies
-Several different trading platforms to choose from
-Exceptional customer service
-Good educational resources for traders of all levels
The cons of GFX.com include:
-Higher than average spreads on some instruments
-Limited research tools compared to other brokers
Conclusion
Overall, G7FX.com is a reliable and trustworthy broker that offers a wide range of features and services. The company is regulated by multiple financial authorities, which instills confidence in its clients. In addition, the trading platforms are user-friendly and offer a variety of tools and resources. The only downside is that the minimum deposit required to open an account is relatively high compared to other brokers.