GFT....Any good?

So I've been looking at other CFD providers.
Any opinions on GFT and their CEO Gary Tilkin?

No probs with them, Dont know about ceo.Have sent pm

I like them... I use them for FX spreadbetting, rather than CFDs. That said I have had some issues with them, but, on balance, I am still positive.

I hated the platform and the fact that it freezes all the time and you can't close positions. Within 2 days of depositing money i withdrew it

Never had that problem, ism your computer up to spec,some platforms require more ram etc

I use them for SB and am happy/content.

My only issue would be they withdrew from their Dealbook360 platform the
ChartStudio programming language. (Have several programs written in this language).
Not an issue if you are a new user .

Doomberg said:

I hated the platform and the fact that it freezes all the time and you can't close positions.

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I've actually heard similar things but I don't know if the people who complained were using dealbook 360 or MT4. Which platform were you using?
It makes me wonder if brokers do this on purpose

have have used it for over 2 years trading CFDs and its been brilliant.

software package is fantastic, some people do have problems but its more to do with the settings you have, if you go to live chat or phone them up they will guide you on fixing the settings.

GFT, now finally 1 point on the Dow (US30.sb), anyone have any experience trading the Dow with them? How about execution and rejection of trades?

____________
"Take control with Risk & Money Management"
Planning, Risk & Money Management

gle101

I don't have any experience with the dow but for forex they've been reasonably good.

I'm using dealbook 360 and apart from the usual delaying tactics, : "are you sure you want to stop the trade? " the executions are quick.

So far the only problem I had with them was an early termination of 1 trade (they closed my trade and I suffered a loss although the market hadn't hit my stop loss)

I thought I should describe my experience with GFT.
I tried them for 3 months and I wasn't impressed.
They are a market maker and their Dealbook 360 platform is designed to just take our money, so people stay away .

MY FINDINGS:

If I place 2 identical trades at very close time intervals using GFT and a different broker, I always get crappier entry price with GFT and their spread (despite what they say) isn't the best either so my trades are always starting with a dissadvantage.

I also noticed strange things happening,
For example, at times my pending orders will trigger early and because they trigger at the wrong time they start up with a very negative figure.

Also, when the market turns, their platform was very quick to adjust the price so I was always getting a crappier closing price than with my 2nd broker (pepperstone). They also have a warning message asking you if you are sure you want to close the trade (you can't dissable this message).
They do have single click option but only for to open new trades not for to close them so if you are in a bad trade and want to get out quickly you'll be delayed.

You also can't hedge your position and take an opposite trade and if you accidentally do take an opposite trade, it will not warn you. It will simply close your earlier trade and won't even replace it with a new one so you pay the spread and end up with 2 closed trades.

They also have this stupid FIFO rule (first in first out)
so if you place 2 trades using the same currency (in the same direction) and for whatever reason you want to close the latest 1, it won't let you. It will always close the oldest trade.
At times it does come up with a message telling you that the trade will close as FIFO but they conveniently take their time to send this message out to you so your command to close the newest trade will be executed as a close for the earlier trade.

Before I signed up with GFT I read some not so nice reviews about them but I ignored them.
I hope other people don't make the same mistake.

im shocked to hear this.Clearly you havent tried IG or Fxcm. I sued both and then switched to GFT and find them very good. I use them of most pairs and a bucket shop for majors

Lord Flasheart said:

im shocked to hear this.Clearly you havent tried IG or Fxcm. I sued both and then switched to GFT and find them very good. I use them of most pairs and a bucket shop for majors

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Lord mate, Yes I've heard about the many other dodgy ones.
Look, people can even make money using bucket shops, but GFT aren't suited to my frequent trades and their irregularities and peculiarities have costed me money.
Is your DL360 behaving the same or do they have a special version for UK?

BILLV said:

Lord mate, Yes I've heard about the many other dodgy ones.
Look, people can even make money using bucket shops, but GFT aren't suited to my frequent trades and their irregularities and peculiarities have costed me money.
Is your DL360 behaving the same or do they have a special version for UK?

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seriously,mine works fine.

Lord Flasheart said:

seriously,mine works fine.

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I doubt it.
If you set trades at market prices and leave them you won't notice anything but your P/L will definitely suffer.

There are other annoying things which I didn't mention like their dealbook web settings which always default to cfd's so I have to pick my favourite currency pairs every time I login and also the problem with their advanced web chart which often stops updating so I don't know if the market is moving against me or not. Or the dealbook mobile platform which has login issues.

Sure some people will never use web and mobile trading but their dealbook 360 software is definitely designed to take our money. Or it could be that they put new traders in the "to be milked" group....

I guess if you are very profitable the rippoffs don't matter, share the wealth

BILLV said:

I doubt it.
If you set trades at market prices and leave them you won't notice anything but your P/L will definitely suffer.

There are other annoying things which I didn't mention like their dealbook web settings which always default to cfd's so I have to pick my favourite currency pairs every time I login and also the problem with their advanced web chart which often stops updating so I don't know if the market is moving against me or not. Or the dealbook mobile platform which has login issues.

Sure some people will never use web and mobile trading but their dealbook 360 software is definitely designed to take our money. Or it could be that they put new traders in the "to be milked" group....

I guess if you are very profitable the rippoffs don't matter, share the wealth

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No, my defaults to the defaults i have set up. not sure about the charting as I have a separate charting package.The prices have been fine for me,I compared them to others etc.

Lord Flasheart said:

No, my defaults to the defaults i have set up. not sure about the charting as I have a separate charting package.The prices have been fine for me,I compared them to others etc.

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I was talking about their web trader (using internet explorer)
what charting package are you using?

BILLV said:

I was talking about their web trader (using internet explorer)
what charting package are you using?

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i use dealbook 360 and esignal

Lord Flasheart said:

im shocked to hear this.Clearly you havent tried IG or Fxcm. I sued both and then switched to GFT and find them very good. I use them of most pairs and a bucket shop for majors

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PBoyles would be proud!!

Well BillV, I'l let you know how they are. Just this week I'm switching to GFT.
Their charting I think is the best of the lot. I'm switching over from CMC and what a joke they are.
Taken from their website

0 fines levied on GFT's operations in over 120 countries

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For a bucket shop, that's not too bad........ I suppose.