GE Markets Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this GE Markets Review.
GE Markets Review
GoldEagle Market (GE Markets) offers its clients three account types – Stannard, ECN & VIP. All of them provide variable spreads and access to the industry’s standard MT4. Only the Standard account is commission-free, but of course its spreads are wider.
A typical spread of 1.8 pips for the EUR/USD pair is above the average for the forex market, which is within the range of 1.0 – 1.5 pips for this pair. The situation is similar with the ECN account, where trading costs per lot exceed 1.5 pips on EUR/USD. For further information, you may check out real-time spreads of 15 leading brokers here.
Nonetheless, the main problem with GE Markets is its lax offshore regulation.
The Company. Security of Funds
Company
Country
Regulation
GE Market Limited
Vanuatu
VFSC
GE Markets was formed in the year 2015 and currently offers online trading in 62 currency pairs, metals like Gold and Silver, Crude Oil, Energy and a wide range of indices CFDs. It claims to provide No-Dealing-Desk trading environment with no conflict of interest.
Behind the brand is GoldEagle Market Ltd., a company holding a principal’s license as a dealer in securities with the Vanuatu Financial Services Commission (VFSC). We keep reiterating that one of the most important things to look for in a forex brokerage is trustworthy regulation. And brokerages registered offshore areas like Vanuatu are not properly regulated, nor supervised. Hence, doing business with such offshore brokers is risky and that is why we advise traders to select among companies licensed by the respective authorities in the UK, or Cyprus, for example.
Trading Platforms
GE Markets supports the ever popular MetaTrader 4 (MT4), available as a desktop and mobile versions.
Launched more than 10 ago, MT4 has proved to be stable, easy to use and professional trading platform. It has many functionalities, tools and add-ons that have been developed over the years – most notably Expert Advisors, which allow full automatization of trades, and technical analysis indicators.
When we tried out GE Markets’ MT4 demo platform, we found the spread om EUR/USD is around 0.9 pips on EUR/USD and no commissions apply (as opposed to the information on the broker’s website).
Methods of Payment
Clients of GE Markets are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, WebMoney, FasaPay and China UnionPay.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
GE Markets Review Conclusion
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