Phil Mibbutz
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GFT gets so little attention on these boards that you wonder if anyone uses them. Or is it just that there's nothing to complain about?
good post Phil
I have got the live after the demo and I am happy
I wonder if I will find anything wrong one day
for now not at all
Could it be due to the fact, that the minimum deposit for opening an SB account i quite high? At least that is the case when it comes to open a CFDs account.
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Phil Mibbutz
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Min $2500 or equiv.Yes, they seem pretty selective about their clientele. None of this two minutes to fill in an on-line form, then you're up and running with a few hundred quid of free money!
Yes it seems GFT are not to keen in getting new clients. Being a Market Maker I find it odd they demand such a huge account deposit, in order to try out their live SB service. They will definitely not increase their market market share with this kind of strategy. But perhaps, they aren't not that interested either, in getting a broader client base.
alexa
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But this is a lot to start a account these days as most new traders want to start smaller. This is not to say that smaller is better, as it is not, just thinking of business objective. I know my account manager gives $50 bonus to anyone who opens an account even with min of $200, so why would someone new open ann account with $2500 with new broker? Yes it is open to abuse as people can open an account with $200, get $50 and withdraw their $200 the next day, but in reality most people keep their account and get caught up in trading....Needless to say, probably lose the first time.
Still, GFT will not last long I think as they had very selective policy for some time and their client service is not that great. Not better nor worst than others so what is different? I mean, what is the motivation to change brokers for eg.?
Still, GFT will not last long I think as they had very selective policy for some time and their client service is not that great. Not better nor worst than others so what is different? I mean, what is the motivation to change brokers for eg.?
Phil Mibbutz
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Apparently there's nothing to stop you depositing the minimum to open the account, then withdrawing most of it, so this would seem to be a way of filtering out prospective clients who lie about their liquid funds. Still, if most SB companies hope to attract a string of new punters who lose a few hundred quid and then give up, you do wonder how long GFT will be in the market.
If I have a choice of opening an account with a spread betting company with 250 pounds and get a 50pounds bonus, I would choose that option any time over GFT who requires 2500 pounds to open an account. Whatever GFT's motives are and may ne they think they are somewhat the bigger end of town, they are just sending clients to the competition and that's not very smart.
Well I'am trading with GFT for few month now. And I must say that They have a really good platform, good custumer services, quick execution and low spread.
Yes I've been quite surprise when I saw the amont needed to open a account but if you want to make real money on long term basis with a real money management, you cannot do anything with 200 pounds - Think about risking 5% per trade, even with going to the minimun 1/point you'll have to set your stop to 20point max, you'll get quickly out of money this way!!
Indeed instead of playing with 200p I think it's better open a practice account (which GFT offer) and when the decision is taken to enter in this business -> Do it with some chance to win, conviction and money.
If you want just to try, use a practice account - triyng with 200p it like giving them away, well in my opinion of course. If I had chosen another broker I would not have entered with less than 1.500 pounds -By the way them min entry for full spread account is US$ 2.500 not pounds, and they have a 450$ account for forex.
About the 50 pounds gift, if you look the spread, they get it back in 20 bets
By doing so I think they get red of the buzz created by clients that are not thinking this as a business but just a hobby, for them they have the practice account.
Yes I've been quite surprise when I saw the amont needed to open a account but if you want to make real money on long term basis with a real money management, you cannot do anything with 200 pounds - Think about risking 5% per trade, even with going to the minimun 1/point you'll have to set your stop to 20point max, you'll get quickly out of money this way!!
Indeed instead of playing with 200p I think it's better open a practice account (which GFT offer) and when the decision is taken to enter in this business -> Do it with some chance to win, conviction and money.
If you want just to try, use a practice account - triyng with 200p it like giving them away, well in my opinion of course. If I had chosen another broker I would not have entered with less than 1.500 pounds -By the way them min entry for full spread account is US$ 2.500 not pounds, and they have a 450$ account for forex.
About the 50 pounds gift, if you look the spread, they get it back in 20 bets
By doing so I think they get red of the buzz created by clients that are not thinking this as a business but just a hobby, for them they have the practice account.
Phil Mibbutz
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Well I'am trading with GFT for few month now. And I must say that They have a really good platform, good custumer services, quick execution and low spread.
Yes I've been quite surprise when I saw the amont needed to open a account but if you want to make real money on long term basis with a real money management, you cannot do anything with 200 pounds - Think about risking 5% per trade, even with going to the minimun 1/point you'll have to set your stop to 20point max, you'll get quickly out of money this way!!
Indeed instead of playing with 200p I think it's better open a practice account (which GFT offer) and when the decision is taken to enter in this business -> Do it with some chance to win, conviction and money.
If you want just to try, use a practice account - triyng with 200p it like giving them away, well in my opinion of course. If I had chosen another broker I would not have entered with less than 1.500 pounds -By the way them min entry for full spread account is US$ 2.500 not pounds, and they have a 450$ account for forex.
About the 50 pounds gift, if you look the spread, they get it back in 20 bets
By doing so I think they get red of the buzz created by clients that are not thinking this as a business but just a hobby, for them they have the practice account.
Fair points, but do the real accounts work the same as the demos? Not all the spreads are good, and the range of markets isn't that great.
Right. I haven't check all market spread... just the one I use: Indices and major currency pairs. Same, as I do not use exotic market it wasn't an issue for me. Understand this may be a problem for others. But in any SB company on exotic market they all have high spread. I don't know if SB is the best platform for those products?
Then I would say that Real accont works better as you have unlimited access to the custumer services by chat 24h. For the moment I haven't seen any trouble with them - no slipage, order executed inmediatly, quick answer for any questions I have.
But as I said, I work with them for some month (4), when I pass 8 or 9 months I'll be able to give a certified opinion.
Then I would say that Real accont works better as you have unlimited access to the custumer services by chat 24h. For the moment I haven't seen any trouble with them - no slipage, order executed inmediatly, quick answer for any questions I have.
But as I said, I work with them for some month (4), when I pass 8 or 9 months I'll be able to give a certified opinion.
I don't agree, I think this account deposit policy is a terrible move by GFT. If a newbie would like to try out SB, and signs up he might blow the entire account in no time. As SB is hitting the mainstream more people are eager to find out what SB is all about. Also, many traders have several accounts, you must be able to try out a live account without having to deposit this kind of money. A demo is just good for getting the know the platform, and the setup for your strategy, nothing else. Live trading with real money, is something entirely different from an emotional standpoint. Otherwise, GFT is probably a good SB company, but today there are other better alternatives, for the one who doesn't like to make a huge deposit, in order to try out the spread betting game.Well I'am trading with GFT for few month now. And I must say that They have a really good platform, good custumer services, quick execution and low spread.
Yes I've been quite surprise when I saw the amont needed to open a account but if you want to make real money on long term basis with a real money management, you cannot do anything with 200 pounds - Think about risking 5% per trade, even with going to the minimun 1/point you'll have to set your stop to 20point max, you'll get quickly out of money this way!!
Indeed instead of playing with 200p I think it's better open a practice account (which GFT offer) and when the decision is taken to enter in this business -> Do it with some chance to win, conviction and money.
If you want just to try, use a practice account - triyng with 200p it like giving them away, well in my opinion of course. If I had chosen another broker I would not have entered with less than 1.500 pounds -By the way them min entry for full spread account is US$ 2.500 not pounds, and they have a 450$ account for forex.
About the 50 pounds gift, if you look the spread, they get it back in 20 bets
By doing so I think they get red of the buzz created by clients that are not thinking this as a business but just a hobby, for them they have the practice account.
Phil Mibbutz
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But isn't that the point, gle? GFT ask for a relatively high initial deposit to keep newbies away. You just have to wonder whether enough of the other sort of customer will sign up for the business to survive.
Yes, I doubt very much if they have enough SB clients to keep their SB operation in profit. I am not a newbie, but their high account deposit policy is not exactly an incentive for me to trying them out.
Phil Mibbutz
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Go on, gle, give them a try! You seem to have tried most of the rest, so it'll be interesting to hear how you rate them. GFT's spreads used to be another non-selling feature, but they offer 1 or 2pt on the main indices now.
I agree, nothing wrong with the spread on some of the indices. I will wait until they come around. Eventually they will have to change their policy on this issue in order to compete.
Phil Mibbutz
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There are so many competitors now that I think GFT might just close the SB arm down and concentrate on the other parts of the business.
Well Guys your begining to freeking me out... Their is a way to know their financial solidity, SB clientes numbers and so???
I've some tousands pounds theire, and would like to be sure my noney is safe!!
Aren't you too dramatique forecasting a closure with such a confidence?
I've some tousands pounds theire, and would like to be sure my noney is safe!!
Aren't you too dramatique forecasting a closure with such a confidence?
