Gallant Capital Markets

Added on May 22, 2013 03:02 AM
(3.5 / 5)
Spread: 2 Min. lot: 0.01 Execution: STP
Leverage: 1:400 Country: British Virgin Islands Regulated by: BVI FSC
Min. deposit: 100 Platforms: MetaTrader,Mirror Trader Payment methods: Bank Wire, Credit Card, Money Bookers
Headquarters: Nemours Chambers Road Town, Tortola VG 1110

Gallant Capital Markets FX, also called GCMFX, is a straight-through-processor or STP forex brokers that offers variable spreads, which starts at 1 pip. It is among the first few Forex brokers in the entire British Virgil Islands that is regulated by the Financial Services Commission of the region, under the Securities and Investment Business Act (SIBA). Deloitte and Touche audited Gallant Capital Markets. Operating with 42 pairs of currency, this website has been redesigned in June 2011 and it has included wide range of Forex trading resources and services. Undoubtedly, this forex broker seems to be promising and has a lot to offer.

Trading Platforms

The Gallant Capital Markets training platform, quite similar to most of the forex brokers, offer the prominent MetaTrader 4 platform for different types of accounts, which includes the free demo account as well. Even though the platform has functioned as expected, there are some things that simply could not enhance the experience of a forex trader; it is only that it uses the standard MetaTrader 4 platform. Else, there is nothing really interesting about the features. Especially, users taking the time to connect with the MYFX console may be able to enjoy the best of one-click trade executions and also the partial take-profits among the choices available. The custom indicators of the forex broker were also helpful in making the technical complications more understand and increasing transparency of the entire trading process.

Although Gallant Capital Markets uses only MetaTrader 4 platform, which is not really preferred, it was found to maintain a perfect balance and harmony between the standard platform and the more customized platform, which is a good point.

Gallant Capital Markets trading plaform

Apart from MetaTrader 4, Gallant Capital Markets also offers MetaTrader 5 and Mirror/Tradency Trader for the traders who require some assistance or would like to copy other traders.

Features

The website of Gallant Capital Markets looks pretty simple, though organized. There are plenty of useful resources included, which will help traders to understand the basics of forex trading and keep them updated. Among some of the most useful resources and features we found in Gallant Capital Markets are the advanced charting tools, instant scripts, and expert advisors that enhance the entire trading experience and capabilities and even speeds up the process of trading. One special feature to be mentioned is the free VSP that offers support for all traders wanting to maximize the efficiency of expert advisors.

Traders who wish to start with a minimum deposit of $2,500 would require the standard account. They will get free access to the MYFX console, which is an enjoyable and interactive system.

Furthermore, there is a demo account at $50,000 deposit. Gallant Capital Markets also includes 3 different types of accounts, and all these accounts offer different spreads. All these accounts are easily funded in choice of 6 different currencies – USD, CAD, GBP, EUR, HKD, JPY, AUD, and CHF. The standard account spread begins at 1 pip, whereas the spreads on mini accounts start at 1.5 pips. Traders depositing $50,000 can also enjoy spread that start at 0.2 pips.

There are 47 currency pairs offered by Gallant Capital Markets, which makes it a perfect forex broker for traders looking for better options to branch out.

Gallant Capital Markets currency pairs

Help and Support

Gallant Capital Markets offers excellent customer service. The customer support center offered 13 ways of contacting and communications with the company that ensures that it is never too far away. Telephonic support is available in 8 country codes. Traders can also send emails to the directed departments for quickly reply and relevant response. There is Live Chat available for 24/5, even through general enquiries will be attended only from 9 to 5 EST. At other times, chat support mainly deals with the emergency questions related to trading. No matter how many times a trader contacts, he will get quick and helpful response. One of the most important features is that you will be able to get a detailed transcript of the chat via email, if requested, so that you can refer it later. This is something that is worth appreciating. Quick response time to emails is also commendable.

Summary

Form the technical viewpoint, the MetaTrader 4 platforms used by Gallant Capital Markets worked like any other platform that is commonly found with forex brokers today. But, the process of opening the practice account seemed to be difficult because the page was not clear and the uptime was also not impressive. Fortunately, it seems easier to open the live account. As most well regulated forex brokers would do, Gallant Capital Markets also requires uploading a photo ID of traders who want to be a member of this forex broker website.  Passport, voter registration card or valid driver’s license ID is needed.

The website maintains an excellent library for EA (Expert Advisor) scripts. These are handy tools that can be downloaded easily from the website of the broker. These tools are easy to install and configure into the machine. Unlike other forex brokers that do not update their market news on a regular basis, Gallant Capital Markets takes the charge of updating their news daily. However, the technical analysis and news are all kept in one single list, which often leaves traders searching for relevant articles. The navigation, here, could have been better. Still, it can be advantageous as it may lead forex traders to look into the market even more deeply so that they learn more about the current trends.

Trading with Gallant Capital Markets also take optimum advantage of the Trading Handbook offered by this company, which gives detail information of the trading process and explains the steps.

Overall, Gallant Capital Markets is a pretty straightforward and crisp interface that allows easy registration process to help users. Reasonable trading facilities and the use of EZ tools also makes this broker one of the best options for trading. Traders who want to trade with a combination of MetraTrader 4 and STP platform will find the Gallant Capital Markets to be extremely helpful.


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