GFT offering Binaries betting

[alan5616]

Hi Everyone, Please let me know how you get on with GFT Binary betting. As I would like to open an account.

Thanks!

I haven't traded binary options with them but, had a spread betting account with them for a few years.

Their customer service is excellent and I never had cause to complain. On one occasion, their platform crashed and I was unable to close a trade. They told me "if it wins, you can keep the profit; if it loses, then we'll scrub the trade". When a similar occurrence happened with Finspreads, they told me to "f*ck off" or words to that effect.

I never had any problem withdrawing funds from GFT and, to my mind, they are the best SB Co out there

 

[buddug1]

Kubek, what if you end up in hospital for a few months (heaven forbid, but it happens) and you're unable, through illness or injury, to ask them to deactivate your account? The 'inactivity' fees would soon mount up.

 

[Torch]

The inactivity fees certainly send out the wrong signal. I assume they have a pile of accounts that were set up by excited first time traders with their 'Forex Millions by the summer, book your yacht now' EBooks! And then when the accounts were virtually wiped out (of course) they were left dormant and GFT are seeing the inactivity fees as a nice additional income stream.

It's a reminder that GFT are at heart a bucket shop, albeit one that have a good customer service and who came out of the recent regulatory clampdowns untarnished and looking relatively credible.

Incidentally I have traded binary options with them and the platform is stable enough. It won't suit Ladbrokes 5 minute roulette bettors used to trading 0.2 pounds per point on 5 minutes (as GFT's minimum size is always 1 pound per point), but for traders looking for a binary platform with stops and limits it is more suitable.

 

[buddug1]

Spot on Torch! My thoughts exactly. The inactivity fee does not do them any favours, and makes them seem blatantly greedy, as I told one of their brokers. And for wiped-out newbies, they could easily forget about it.

 

[Sharepunter]

Yes - the inactivity fee pissed me off so I deactivated my account just prior to incurring one. At least they emailed me a warning that the fee would be applied.

 

[JSMITH07611]

Yes - the inactivity fee pissed me off so I deactivated my account just prior to incurring one. At least they emailed me a warning that the fee would be applied.

Hi i have been with gft for years now. i do not work there only i am a plain person like everyone else and i like their platform and think they are pretty honest. I have had over 60k with them at one time. yes they do have an inactivity fee which is stupid but you get all the money back if you place one trade on rbs lose 5p and they will refund the fees!

I have held accounts at every spread betting broker under the sun (mainly to test out their bonuses and platform i will give you some names of spread bet companies youve never even heard of piptrade henyep markets, pan index which closed, marketspreads ireland, paddypower [a white label of capital spreads - by the way you can see all white labels by visiting FSA Register and then once in a firms details click on the red link which says names] and obviously all the main spread betting firms including semi known spreadco, gekko markets accendo markets. Thank g-d he has showered me with over 25k in bonuses alone.

I will tell you one thing overall gft is one of the best use their online dealbook web and its just plain simple and good.

 

[LosPinos]

https://marketsworld.com without doubt the worst binaries site I have ever seen. We are talking real binary trading sites, the IG custom bets, GFT binaries and the PYXmarkets of the world not these aweful up/down for 80% sites registered in Isle of Man, Malta, Cyprus or Israel.

UK based, fixed risk defined return.... it also helps if you can get your money back when you want it.

Anyone tried marketsworld.com for binary options yet? They say they
pay out 95% profit on winning trades which is substantially more than all
other binary websites (I have used anyoption before which pays about
71%) and marketsworld are licensed in Great Britain? Are they a new site?
I had not heard of them until recently.

 

[Omoh101]

Good man

Will be interesting to see how long it takes to get on manual dealing.

Not that long it would seem. As I opend a Binary trading account with GFT in June and my account have now (last week) been placed on manual dealing & I was not even informed about it!
Their manual dealing is so slow and I get a requote at a worse price (90% of the time is my guess, or atleast it seems so)

 

[Pi3141]

Not that long it would seem. As I opend a Binary trading account with GFT in June and my account have now (last week) been placed on manual dealing & I was not even informed about it!
Their manual dealing is so slow and I get a requote at a worse price (90% of the time is my guess, or atleast it seems so)

how much money did you make roughly before being placed on manual?

 

[Omoh101]

I made 1k.

 

[Omoh101]

So now I need to find a new broker who offers 5minute Binaries on FX Currencies via electronic execution, with the ability to close the Binary trade prior to the expiration

 

[LosPinos]

I do not know of a five min offering that has all the aspects you are looking for. Do IG not offer 5mins?

PYX has one day only which suits me fine with close out and electronic dealing... I haven't had a re quote yet. Maybe not for you though.

I would have a look at IG custom bets if you haven't already.

So now I need to find a new broker who offers 5minute Binaries on FX Currencies via electronic execution, with the ability to close the Binary trade prior to the expiration

 

[Lord Flasheart]

I made 1k.

have you spoken to them and asked why? 1000 is nothing to them

 

[LosPinos]

@Lord Flasheart - You mentioned you would have a look in to the platform I'm on to see if there was any dirt to dig up.... Did you find anything?

TBH I haven't had any problems with them still and I have been trading for around 2 months now.

have you spoken to them and asked why? 1000 is nothing to them

 

[Lord Flasheart]

@Lord Flasheart - You mentioned you would have a look in to the platform I'm on to see if there was any dirt to dig up.... Did you find anything?

TBH I haven't had any problems with them still and I have been trading for around 2 months now.

Ive no dirt on them and have had no problems with forex trading with them. I did the binaries for a while and made more than 1k,but that doesnt mean they havent put him on dealer only because they could do it for other reasons. This sort of thing happens all the time with bookmakers who offer it as a product,but gft are a broker and should have guidlines to follow and providing they have a liquid market the prices should be available. Id like to hear more on this and a transcript of their response if possible

 

[LosPinos]

I mentioned in a previous post that with GFT shifting the goalposts is a huge breach of their offering.

They are FSA regulated so therefore need to be fair, clear and not misleading in any reasoning for switching to dealer. They do not show themselves as a gaming business so therefore shouldn't behave like one.

I would suggest the FSA wouldn't be to happy to hear what has been happening.

Regards,

Ive no dirt on them and have had no problems with forex trading with them. I did the binaries for a while and made more than 1k,but that doesnt mean they havent put him on dealer only because they could do it for other reasons. This sort of thing happens all the time with bookmakers who offer it as a product,but gft are a broker and should have guidlines to follow and providing they have a liquid market the prices should be available. Id like to hear more on this and a transcript of their response if possible

 

[Omoh101]

Last night was dire with GFTUK!!!

I got filled on 3 trades on a worse price with no opportunity to accept/reject the re-quotes. I called them about this and they cancelled the trades

Also had quite a number of instances where I place an order for binary to finish up at 6s.
Target profit 94pts, the order is delayed; price rises to 14 to finish up.

I reject the order & wait for price to fall to my calculated level of 6s.

Price drops back down to 6s to finish up
I then place the same order again for binary to finish up at 6s.
Target profit 96pts, the order delayed again; price rises to 14 to finish up.

I reject the order & wait for price to fall to my calculated level of 6s.


I must have had average of 4 iteration of this process on a number of trades. But when I called the dealing desk I was informed it was because I was putting through a size of 10 so I set my size to 5s and 1s and the same issue carried on!
I finally gave up as it was now obvious something was amiss and I getting any joys from the dealing desks!

I sent my account officer an email this morning. I will send out a transcript of their response when they respond.

 

[Omoh101]

I do not know of a five min offering that has all the aspects you are looking for. Do IG not offer 5mins?

PYX has one day only which suits me fine with close out and electronic dealing... I haven't had a re quote yet. Maybe not for you though.

I would have a look at IG custom bets if you haven't already.

Hi LosPinos,

The IG Index Customary bets does not allow you to close off trades prior to expiry, so once timeframe is defined , the trade must be held till its expiry. Closing off the trade prior to maturity is one method I use to minimise my risk i.e. avoid taking the max loss when trade moves against me.
Does PYX have one day trading on major FX pairs

 

[Lord Flasheart]

Hi LosPinos,

The IG Index Customary bets does not allow you to close off trades prior to expiry, so once timeframe is defined , the trade must be held till its expiry. Closing off the trade prior to maturity is one method I use to minimise my risk i.e. avoid taking the max loss when trade moves against me.
Does PYX have one day trading on major FX pairs

you could take a trade the other way

 

[Omoh101]

have you spoken to them and asked why? 1000 is nothing to them

I would total agree that 1,000 is nothing to them which is why I am still pursuing the case to get to the bottom of it.

All I have been told prior to writing the email to them today was they had moved me from Electronic to Manual as they were trying to imorove their pricing so Clients can get a the best price possible - total contracdiction to my experience. Hey ho let's see how it all plays out.