The big thing to look out for with GFT is that they close all your trades even when you have half your equity left in the account (instead of closing your trade when you have 0). Naturally all trades move against you before they move for you, and this is a perfect money making scam for them. (yes I was a bit heavy on that trade and I am responsible for that, but its the principal I am pointing out here)

Also I noticed from the previous comments that everyone who commented (apart from their web spammers) have only negative things to say about them.
I just wish I did some research before trading with them.
Dal

More hilarious scam ratings from idiots who are too impatient to read the fine print that there is an inactivity fee.

There is nothing fraudulent about charging a fee like that and these traders have nobody to blame but themselves for not knowing what they're doing or the terms of their account.

The review by Thatch is hilarious. Your stops and limits were opening new positions because you set them in the wrong direction. If you're short and you set a limit below the current price that is a Limit-Sell then you will open a new position. If you create a Limit-buy it will activate by closing your position and wont open any new ones. I discovered this a few days ago and luckily only lost a few dollars before I realised MY mistake. It doesn't matter if it's called a limit order you have to manually change the direction. (default is limit-sell)

GFT's suggestion that you return to demo until you have some idea what the hell you're doing was spot on.

I have read all the post above and I have seen them do this as well. It's interesting that this goes on and nothing is done. They have been showing commercial concerning their platform. The platform is always crashing rebooting especially when your candles goes down or up quick. I am still monitoring them as we speak but only to build a case. I am not into the business for losing money, and trusting broker to comply with the interest of their clients. It's sad that we have to deal with this.

gft are thiefs do not open an account with these sharks.they will do a hundred thing to swindle you out of money things like when the market goes in your favor.they will freeze your platform screen,give you a lower price,don,t think for one second the fsa will help they have as much power as a dead skunk.repeat DO NOT OPEN AN ACCOUNT WITH GFT IN THE UK.THERE CHEAP PETTY CROOKS IN SUITS YOU WILL START LOSING ALL YOUR MONEY THESE SCUM.

Beware of GFT Forex!

I opened an account with them to test the trading platform that seemed not bad, and I did not use often this account, because the spread is a bit high, big mistake!

They've looted it insidiously by taking each month inactive fee of $ 50.

This type of practice says a lot about the intentions of this company!

SCAM

GFT Foresight-AI. This is a software product sold by GFT. GFT claims that this product gives an accurate projection of a currency's behavior for the period 8AM to 5PM EST in the United States.

Everything has been tried with foreign currency trading, including Artificial Intelligence (AI), which is a field of computer science. Foreign currency trading is a field of international finance (taught at universities) as well as economics.

Accurate currency predictions with AI are possible, but only when world's leading experts in AI are involved.

GFT's software product comes from some idiot drunk. Vince Pukebrain, or someone like that. You'll find the retard puking into a garbage can about now. Too bad he doesn't have a Ph.D. in Computer Science. Too bad he doesn't have an IQ of 190+. Too bad he's just a broken down farting idiot.

Please do not run out and get some legitimate AI software. It does not work that well. Nor does statistics software. There is also a great deal that has to be done even if you have the software.

DO NOT DO BUSINESS WITH CRAP SELLING BOGUS SOFTWARE PRODUCTS. YOU ARE JUST BEING RIPPED OFF. FORESIGHT-AI HAS NO SCIENTIFIC VALIDITY AND JUST FRAUD AGAINST YOU, THE CONSUMER.

Another reviewer here wrote that GFT charged him an inactivity fee after he got another account with them; he had previously closed an account with them.

The inactivity in question is supposed to apply to an account where there is no trading activity. It is not for someone getting another account with them. Once an account is closed, you are no longer doing business with them. They cannot charge for for an inactive account, when you have closed your account.

GFT FOREX COMMITED FRAUD AGAINST THIS INDIVIDUAL. BILLING SOMEONE FOR NON-EXISTENT SERVICES IS FRUAD. SINCE THIS INDIVIDUAL DID NOT CONTACT THE POLICE, YOU SHOULD ASSUME THAT THEY HAVE A GREAT DEAL OF EXPERIENCE DEFRAUDING PEOPLE--THIS IS ALL ANYONE IN THE FBI OR U.S. DOJ WOULD SAY ON THE MATTER.

This is my personal experiences with GFT.

I had several live accounts with them since 2004. What a SCAM

Just to add one point as I can see comments on this thread that "Wall Street" is a better and alternative option to FX,,do not believe one word of that,,they are both in bed together.For what its worth they are both neck and neck in the race to see who can outdo the other in amazing schemes that are designed to leave you penniless and they" the victors with the spoils.

Good words of advice is to treat handling your money as if you were on a military campaign.

They run mirrors on their clients,,,flash programs also,,,and also do flag any accounts that are in the green among other among several "antics" they pull off.

And this is just on clients that stay with the trade without logging off during a session.As far as the clients who have the courage to put stops in place and leave for the day,,,much more horror stories,,I for one would not even take the chance of that from this corrupt outfit.

What I do find is an interesting coincidence is that every person who has posted in this thread that has negative comments about this brokerage takes time to elaborate on the details but any person who has posted a positive comment is usually a one liner,,,lol,,,I see that perhaps GFT reps have infested this thread.

A complete travesty this outfit.

I opened an account with GFT. I was informed by the keen salesman on the phone that I was able to freely access the demo account to learn FOREX trading and then use my account for live trading when I was ready. All I had to do to access the demo account for an indefinate period was to was open a small trading account of $350.

This is what I did in July 09 and went about learning how to trade FOREX before trading real money. For those that trade you will know how long it takes to learn the software and learn the basic rules and mind controls required for trading. From August 2009 to feb 2010 (7 months)GFT took out what they call ACCOUNT INACTIVE FEES. They took this money without notifying me and cleaned out my account without me being able to get a single live trade on. I only discovered this as I decided to try a live trade.

Of all the forex scammers out there, this group is my favorite. They have myriad ways of ripping you off. They are no one trick pony. I credit them for the variety and creativity of their methods (five stars for that). First of all, their platform, which is touted as "state of the art", is actually quite old. When you place stops and limits on your trades, they will eventually initiate as new orders once your original trade has completed. So, if you should pick up a few hundred dollars on a trade, which has hit the limit you set for it, you have to go fairly soon to your computer to cancel the limit order before it initiates as a separate order. If you are not around to do this, it will essentially reverse your previous trade and suck away all your profits. What a neat trick.

Another complaint I have about them is that the accurate numbers on a trade are not reflected on the platform. I once closed a trade, which appeared to be quite profitable, to learn upon opening a report that it was more than $200 negative. How? I still can't say. When I called to inquire they gave me a song and dance about roll-overs, etc. I would never have closed that trade had I known it was negative, as the market was moving in my direction. When I called and asked if I needed to download and examine a report before I close any trade, I was basically told that yes it is necessary to do so. I was also told that I was not the only person to call to inquire about this... Nevertheless, they took no responsibility for this or any other problem.

Their basic attitude was always: "So what?" They never once denied my complaints. One of their customer service people even suggested that since I can't appreciate the fact that stops and limits later turn into separate orders, I should perhaps return to a demo account until I learn to understand and appreciate this unnecessary function. He never said, "No, it does not do that or should not do that." He agreed with my assessment, but responded by suggesting that I am not yet capable of appreciating being ripped off like that. He never explained exactly how demo trading on their platform would actually bring me to a new understanding, but tried to imply that I am still too incompetent to appreciate giving them my money.

This broker like 99% forex brokers is a complete scam. They are a bucket shop hiding behind pretty charts. Everything is great as long as your losing money. Once you start making money they will flag your account and do everything in their power to empty your account. Stay away from them or better yet stay away from forex all together. This industry has a long way to go before its anything close to stocks or futures.

not at all user friendly... connection to the server keeps cutting off... guys please dont use dealbook from them

Money disapears from your account. The dealing desk decides to resettle trades in their favor taking more pips. You will end up loosing money on what would normally be a profitable trade.

Computers crashed for an entire day. IF you were on the wrong side of a trade you would have lost everything. Money turned up missing in my account.

Ive used them, I don't like their platform for order entry/exit.
Forget about there charts I never looked at them.
Its to much like FXCM.Its buggy and freezy.I like .Net type platforms like Ninja Trader and Cunningham T4.
A word to the wise from the so called professional traders here who are really noobs.
**NEVER** use broker data****
Did you read that?
Ill say it again.
**NEVER** *****use broker data****
If you do, then you are a noob, and will lose.
Pay for E-signal, because $120 a month is cheaper than losing $2000.
E-signal is not a broker, they are an IT company.
Brokers can mess with you through the data, and are not prosecutable because of data.Because it comes under electronic trading limitations.
That is how they can get you.
They cant front run trades, because that's illegal.
So they simply delay the bars.Which is no different, but legal.

Jan 6, 2009 ... GFT Forex is tight and great to trade with, regulations in 4 countries is an added advantage. 0. Author: Alex Findlay ...

Dear Stephanie:
C/O compliance
GFT FOREX

I am Alex Findlay and I did not write the above comment nor did I authorize it.

I was really not all that interested in doing battle with you and I had no plans on contacting you till the Statute of Limitations was about to expire. This is not the only time that I have seen GFT abuse my name to promote their business. I waited till GFT could not claim it was an error or oversight. After 40 years in the alcohol and adult entertainment business I know what it takes to win. A few years ago the city of Indianapolis challenged me, spent over $800.000.00 and lost after three appeals requiring the legislature to redraft the Statute. I had a similar experience with the City of Myrtle Beach but they backed down early in the game. If you check you will see that the State of Alabama amended their Sunday Blue laws rather than go to Court against me. Personally I think GFT is too dammed arrogant so I am willing to go this far out of principal for all those that you bullied into giving up. Before you bring it up I support prostitution but it is a legal and legitimate business in Nevada that is beneficial to society. If GFT was as honorable as the Call Girls I know this message would not have been necessary, Let me put it bluntly ' I trust the girls more than GFT'

You have Boris Schlossberg and Cathy Lien to thank for my change of heart. It was a smart move to hire them to bolster your tarnished credibility. Before they came on board I intended to humble GFT as I have the evidence to support my claims going back to broken promises by Wayne McDonald at Forex Bootcamp. Now I have more and in another 6 months I expect I will have even more, but because of Boris and Cathy I am making a suggestion that we settle. I have a number of emails from other GFT disgruntled customers, who have asked for my help and I expect you to diligently review their allegations also.

I am sending a duplicate secure message via the Bloomberg Terminal for verification so please do not get confused.

Please respond with your decision upon receipt of this message taking whatever action you deem necessary.




Yours Truly,

Alex Findlay
Afindlay1@bloomberg,net

Rating:

love dealbook, good service-way better than my previous broker