GTCFX broker started its operations in 2016 and is regulated in the UAE, Mauritius, Australia, and Vanuatu. This broker offers three types of trading accounts (Standard, Pro, and ECN) and supports MetaTrader 4, 5, and cTrader platforms.
The GTCFX broker is an international Forex broker that started its operations in 2016. It is regulated in the UAE, Mauritius, Australia, and Vanuatu.
The Alpari broker was founded in 1998. Its headquarters are located in Russia, but it has additional offices around the world. Over its 26-year history, it has experienced many ups and downs.
Alpari is also a member of the Financial Commission, a private regulatory body that handles user complaints up to €20,000 per complaint. Since this body is private and we haven't heard much about its operational activities, we can't fully rely on the regulation of Alpari.
The GTCFX broker operates as a Market Maker and also as an STP broker, directly connecting trades to financial providers like London banks. Since its establishment, the GTCFX broker has focused on creating a healthy and legal trading environment, and nearly all users who have worked with this broker are satisfied!
The GTCFX broker offers 120 trading instruments for its users, and an interesting recent development is that it now provides services to Iranian users. Some of GTCFX’s strengths and achievements include winning over 20 major international awards in the Forex market over the past 8 years. Therefore, evidence suggests that it is a healthy, energetic, and honored broker.
Regulation of GTCFX Broker
GTCFX is regulated and registered in Australia, Mauritius, Vanuatu, and the UAE. One of the most important features of GTCFX is its high credibility. The broker is registered under an international holding company.
There are three branches of GTCFX registered in Dubai, Mauritius, and Australia. GTC Multi Trading DMCC is a company under Dubai's multi-commodity center rules, licensed by the UAE Securities and Commodities Authority under license number 202200000007. GTC Global Ltd is a company established in Mauritius with license number GB22200292 from the Mauritius Financial Services Commission.
Types of Trading Accounts of GTCFX vs Alpari Broker
The GTCFX broker offers three types of trading accounts on MetaTrader 4, MetaTrader 5, and cTrader platforms. This variety of account types can be considered one of the advantages of GTCFX. The standard account is suitable for beginners. It offers access to 7 markets, no commission, and a maximum leverage of 1:2000.
The Pro account requires a minimum deposit of $50, a leverage of 1:2000, and no commission. The ECN account requires a minimum deposit of $3000, offers a leverage of 1:500, and has a commission of $5 per 1 lot. This account provides more than 27,000 trading instruments and is suitable for professional traders.
Alpari offers ECN and Standard accounts. GTCFX also offers a Standard account, ECN account, and a Pro account, which is special for traders.
Trading Platforms of GTCFX vs Alpari Broker
The trading platforms available on Forex markets include MetaTrader 4, MetaTrader 5, and cTrader, and GTCFX supports all three platforms. MetaTrader is a trading and analysis software used for trading in financial markets. It generally includes various tools and options for market analysis, trade execution, account management, and performance tracking. MetaTrader is often connected to different trading platforms, helping traders analyze and trade various markets, including Forex, stocks, commodities, and more. GTCFX supports MetaTrader 4, MetaTrader 5, and cTrader, as explained in detail on the Candlestick website.
Difference Between MetaTrader 4 and MetaTrader 5
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both very popular trading platforms offered by MetaQuotes, but there are significant differences in their capabilities and features. These differences include:
Programming Language: One of the major differences between MT4 and MT5 is their programming language. While MT4 uses MQL4, MT5 uses MQL5. MQL5 offers more advanced features and broader possibilities for developing and testing Expert Advisors (robots) and scripts.
Time Frames: MT4 only allows trading in specific time frames, but MT5 allows users to trade in various time frames, including hidden time frames.
Technical Advancements: MT5 has more technical improvements, such as faster order execution, the ability to execute more complex instructions, different order types, and bidirectional trading (with shorter time frames).
Markets: MT5 supports a wider variety of markets, such as stocks and commodities, while MT4 is mostly used for trading in Forex markets.
Charts and Analytical Tools: MT5 offers advanced analytical tools and charts, enabling users to conduct more precise analyses and identify trading patterns.
Fundamental Analysis: Although MT4 doesn't directly offer fundamental tools, users can easily import economic data and news via scripts and APIs. MT5 has better features for fundamental analysis and is a multi-market platform offering more detailed financial and economic data.
Thus, both platforms (MT4 and MT5) offer different technical and fundamental analysis capabilities, and depending on your needs and trading style, one may be more suitable than the other.
Scalping in GTCFX Broker
Scalping in Forex is a trading strategy where traders attempt to profit from small price changes. This strategy typically involves entering and exiting positions quickly in a very short period. Some key features of scalping in Forex include:
Short Trading Duration: Scalpers usually open and close trades in minutes or even seconds, aiming for small but frequent profits.
High Number of Trades: Scalpers typically make a lot of trades in a day, hoping that the small profits add up.
Need for Quick and Accurate Analysis: Scalping requires quick technical analysis. Traders usually use short-term charts (such as 1-minute or 5-minute) and focus on short-term signals.
Large Trade Volumes: Scalpers often deal with high volumes of trades, requiring fast platforms with low latency.
Use of Leverage: Many scalpers use high leverage to increase their buying and selling power, which can increase profits but also risks.
Spreads and Commissions: Since scalping involves many trades, low spreads and commissions are crucial for scalpers. Brokers with low spreads and commissions can help improve profitability.
Advantages and Disadvantages of Scalping
Advantages:
Frequent profit opportunities from small price fluctuations.
Better risk management due to short trade durations.
Disadvantages:
Requires high focus and speed, which can be tiring.
High trading costs due to frequent trades.
Use of high leverage can result in significant risks and large losses.
Scalping is a strategy suited for experienced traders who can make quick decisions and manage risk carefully.
