Gt247 forex converter

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Trading Costs We can not give any concrete information in regards to trading costs, there are spreads but there is no mention of what they are, there is also no mention of commissions so we are unable to comment on this section of the review in regards to actual trading costs. We can say that there are swaps involved, these are wither charged or awarded for holding trades overnight. Assets The full extent of assets and instruments available on GT is not apparent to us.

There is mention of there being over 65 fx pairs, indices, commodities, and crypto to trade, however, there is not a breakdown of what they are. Spreads Spreads exist, that is about as much as we can find, how much they are, what they start at and if they are fixed or floating is still a mystery to us.

This is quite vital information for potential clients so it is a surprise that they are not clearly marked or any information stated on the website regarding them. The demo account offers spreads around 1. Should you wish to use ZART, then you need to use a credit or debit card.

This is extremely limiting and not the most confidence-building thing to see. Any requests made after 2 pm will be processed the next day, and that any withdrawal requests must be more than 14 days after the most recent deposit. This is a very strange rule and not one you see very often so be sure to take note of it should you wish to receive your funds quickly. Once payments are processed, any card withdrawals normally take between 1 and 5 business days and bank transfers normally between 3 and 5 business days.

They are all pretty simple but if you are just starting out could be helpful to read. There is market news where you can get some information about what is happening in the markets. There are also research notes on different topics such as Non-Farm Payrolls and other major events, there is also a basic economic calendar available but there are more in-depth ones available out there on the internet.

Customer Service Customer services are open 5 days a week and are closed at the same time as the markets over the weekend. They open at in the morning and close at for a minute break. Currencies are always quoted and traded in pairs, e.

When trading forex you are simultaneously buying one currency and selling shorting another. In essence you are betting on the price movement that the base currency will either strengthen or weaken against the counter currency. What is a pip? PIP stands for percentage in point, it is the smallest price move that a given exchange rate can make.

Looking at other currency pairs e. Majors, Minors and Exotics: Majors are the most popular forex pairs in the market. These pairs are the main drivers and the most liquid currency pairs of all global currencies. Minors, also known as crosses and refer to currency pairs not associated with the USD.