GIC Trade
Pros and Cons
Pros
- Diverse trading instruments including Forex, commodities, and cryptocurrencies
- Multiple account types tailored to different trading styles
- Utilizes MetaTrader 5 for advanced trading features
- Variety of educational resources and market analysis available
- Customer support via email and phone during weekdays
Cons
- Not regulated by recognized financial authorities
- Limited trading history of 5-10 years
- High minimum deposit requirement for ECN account
- Customer support only available on weekdays
- Potential risks associated with unregulated trading environment
Basic Information
User Reviews
GIC Trade Overview
GIC Trade, established in 2023 and headquartered in Singapore, operates as a forex broker without regulation from recognized financial authorities. This lack of regulatory oversight is a significant consideration for potential traders, as it implies there are no established safeguards in place to protect client assets or ensure equitable trading practices. Given its relatively short operating history of 5-10 years, potential users may want to carefully evaluate the risks associated with engaging with GIC Trade before making any financial commitments.
GIC Trade primarily focuses on forex trading, offering a variety of trading instruments to meet diverse trader needs. The platform utilizes MetaTrader 5, providing advanced tools and features for effective trading. GIC Trade supports multiple account types such as PRO, CASHBACK, and ECN accounts, catering to different trading styles and preferences. Customer support is available via email and phone during weekdays, with additional resources like educational materials and market analysis to assist traders. However, the absence of regulation could raise concerns regarding the safety and reliability of the platform, making it crucial for traders to conduct thorough research.
Is GIC Trade Safe? Regulation Analysis
Regulatory Information
GIC Trade, established in 2023 and headquartered in Singapore, operates without regulation from any recognized financial authority. This lack of regulatory oversight is a significant consideration for potential traders, as it implies there are no established safeguards in place to protect client assets or ensure equitable trading practices. Engaging with an unregulated broker like GIC Trade carries substantial risks, including a lack of investor protection and a higher potential for fraud.
Is GIC Trade Regulated and How Are Client Funds Protected?
Trading Products and Services
What trading instruments does GIC Trade offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Many |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
GIC Trade provides a diverse array of trading instruments, primarily focusing on forex, commodities, and cryptocurrencies. This selection caters to various types of traders, from beginners to professionals. The availability of multiple asset categories allows traders to build diversified portfolios and implement flexible trading strategies. With many forex pairs and popular commodities like gold and oil, traders have ample opportunities to engage in the markets. GIC Trade’s commitment to offering a wide range of products ensures that users can adapt their trading approaches according to their preferences and market conditions, enhancing their overall trading experience.
Account Types and Trading Conditions
What Account Types and Fees Does GIC Trade Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| PRO Account | Traders prioritizing low spreads | Low spreads, fee of 1 GICT per lot, free swaps | Minimum deposit of 10 GICT, leverage up to 1:400 on Forex |
| CASHBACK Account | Frequent traders seeking rebates | Cashback on trades, fee of 1 GICT per lot, free swaps | Minimum deposit of 10 GICT, leverage up to 1:400 on Forex and Gold |
| ECN Account | Experienced traders needing raw spreads | Tighter spreads, higher fee of 3.5 GICT per lot | Minimum deposit of 1000 GICT, suitable for larger capital |
| Demo Account | New traders practicing strategies | Access to all trading features without risk | No cost, ideal for skill development |
Account Opening Process
To open an account with GIC Trade, follow these steps: 1. Visit the GIC Trade website. 2. Click on “Sign Up” to initiate registration. 3. Provide personal information, including your email and password. 4. Verify your email by clicking the confirmation link sent to you. 5. Complete your profile with additional details. 6. Deposit funds into your account using GICT or other supported cryptocurrencies. The process allows for future upgrades to a professional account if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | 0.8 | $0 (PRO/CASHBACK: 1 GICT/lot, ECN: 3.5 GICT/lot) | Tight spreads for major pairs |
| CFDs (Indices, Commodities) | Varies | Varies | Dependent on specific asset |
| Cryptocurrencies (BTC, ETH) | Varies | Varies | Variable depending on volatility |
Other Fees
GIC Trade may have various other fees to consider, including: • Deposit and withdrawal fees may apply based on the payment method. • Inactivity fees could be charged if an account remains dormant for an extended period. • Platform usage fees are typically not applicable. • Overnight interest (swap rates) may vary based on account type and position. • Currency conversion fees might apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does GIC Trade Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 | Windows, macOS, iOS, Android | Secure login, multiple order types, technical indicators, price alerts | Demo account, educational resources |
| GICTrade | Web-based, mobile (iOS, Android) | User-friendly interface, one-click trading, market search | Demo account, VPS services |
| GIC Social Trade | Web-based, mobile (iOS, Android) | Copy trading, community sharing, strategy collaboration | Demo account |
GIC Trade provides several trading platforms tailored to various trader needs. MetaTrader 5 is optimal for advanced traders due to its extensive tools and capabilities. GICTrade offers a straightforward interface suitable for all levels, while GIC Social Trade fosters a collaborative trading environment. The platforms support secure logins, ensuring client safety, and provide tools for fast order execution and real-time alerts, enhancing traders’ ability to respond swiftly to market changes.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Cryptocurrency (GICT) | Instant | No platform fee | Min 10 GICT, Max 100,000 GICT | GICT, BTC, ETH |
| Bank Transfer | 3–5 days | No platform fee | Min 100 GICT, Max 50,000 GICT | GICT, SGD |
| E-wallet (e.g., Skrill, Neteller) | Instant | 1.5% fee | Min 50 GICT, Max 20,000 GICT/day | GICT, USD |
Minimum Deposit
The minimum deposit requirement for GIC Trade is 10 GICT for the PRO and CASHBACK accounts, and 1000 GICT for the ECN account. This requirement does not vary by payment method but is consistent across all account types.
How to Withdraw
- Log into your GIC Trade account.
- Select the ‘Withdrawal’ option from the menu.
- Choose your preferred payment method for withdrawal.
- Enter the amount you wish to withdraw.
- Confirm your withdrawal request.
- Check your email for a confirmation of the withdrawal.
- Withdrawals will be processed according to the selected payment method’s processing time.
Customer Support
GIC Trade Customer Support Overview
Support Channels
GIC Trade provides multiple support channels to assist customers effectively. You can reach out to their support team via:
- Email: Customers can send inquiries to support@gicindonesia.com.
- Phone: For immediate assistance, contact their support team at +62 0817 – 0095 – 888 during business hours.
- Social Media: GIC Trade maintains an active presence on platforms like Facebook, Twitter, Telegram, WhatsApp, and Discord for additional support options.
Service Availability
Customer support at GIC Trade is available from Monday to Friday, 09:00 to 17:00. As of now, support is primarily offered in English. The limited availability may be a consideration for traders needing assistance outside these hours.
Frequently Asked Questions
No, GIC Trade is not regulated by any recognized financial authority, which implies there are no established safeguards for client assets.
The minimum deposit requirement for GIC Trade is 10 GICT for PRO and CASHBACK accounts, and 1000 GICT for ECN accounts.
GIC Trade offers multiple trading platforms, including MetaTrader 5, GICTrade, and GIC Social Trade, catering to various trader needs.
You can contact GIC Trade customer support via email at support@gicindonesia.com, by phone at +62 0817 – 0095 – 888, or through their social media channels.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.