GCM Forex Broker Review 2024

GCM Forex provides online trading services on Options, Futures, Turkish/International Stocks, and CFDs.

Authorized by the Capital Markets Board, GCM Forex broker has won multiple awards, including the "Best Investment Company 2019” by the International Business Magazine Awards.

GCM Forex; Company and Regulation [Capital Markets Board]

GCM Yatırım Menkul Değerler A.Ş., a prominent financial intermediary in Turkey, was established in 2012.

The company has been licensed by the Turkey Capital Markets Board (CMB) as a “WIDELY AUTHORIZED INTERMEDIARY FIRM” with license No. G-039 (398) since 2016.

Key features of GCM Investment Securities Inc:

• Leverage options of up to 1:10;
• Phone trading;
• No-commission Forex trading;
• Flexibility in trading strategies like Scalping and Hedging.

GCM Forex Specifications

GCM Yatırım offers a range of features and benefits, making it an attractive option for traders of all levels. Here's a table summarizing the key specifications of GCM Forex.

GCM Forex Account Types

GCM Forex broker offers four main account types for various contracts, such as CFDs, Options, and Futures, to cater to various trading preferences.

Forex

• Access to over 170 investment instruments;
• No commissions;
• Leverage options of up to 1:10;
• Two types of Conditions: ECN and Standard;
• Minimum deposit requirement of 50,000 TL;
• Collateral margin requirements equal to Net Position.

Options

• Option contracts with leverage;
• 24/5 trading advantages;
• Currency, commodity, equity, and index options;
• GCM Trader platform.

Futures

• Free demo account with 100,000 TL in virtual money;
• Hedging positions with flexible leverage;
• MetaTrader 5 support.

Stock

• Access to Istanbul Stock Exchange (BIST);
• Investment Model Portfolios;
• Turkish market indexes.

GCM Forex Sign Up and KYC Verification

The sign-up process for GCM Forex is designed to be straightforward while adhering to regulatory requirements.

You need to open a free trial account at first, in order to be able to open a live account:

1. Visit the broker’s official website at “https://www.gcmyatirim.com.tr/”;
2. Click “Open New Account”;
3. Choose your preferred market from Forex, Options (Opsiyon), Futures (Viop), or Stocks (Borsa);
4. Fill out the sign up form;
5. Click “Open Live Account” in your client area;
6. Fill in the registration form;
7. Provide the signed account opening agreement, photocopy of the ID card, and a residence permit.

GCM Forex Platforms and Apps

We must discuss the trading platforms in this GCM Forex review. The company offers various trading solutions for each of its markets.

MetaTrader 4 (MT4)

Exclusive to Forex trading and available on various devices, including:

• Desktop;
• Android;
• iOS.

GCM Trader

Usable for trading Forex and Options with the broker, available on mobile devices, including:

• Android;
• iOS.

GCM Stock Trader

Exclusive to trading Turkish and international stocks with GCM Forex, available in the following versions:

• WebTrader;
• Android;
• iOS.

Matrix Trader

Matrix Mobile IQ and Matrix Data Terminal for catching up to the latest news and trading stocks:

• Web Terminal;
• Android;
• iOS.

GCM MT5

Available for Options and Futures trading, accessible across various operating systems, including:

• Desktop;
• WebTrader;
• Android;
• iOS.

GCM Forex Fees Explained

Forex trading on GCM Yatırım comes with no commissions, and the only charges are spreads and swaps.

 However, the company doesn’t provide any specific details about trading commissions on other instruments.

The company offers two spread types for Forex trading, including Standard and ECN.

While Standard spreads are variable, we’ve gathered some of the ECN spreads for Forex in the table below.

GCM Forex Payment Methods

This topic of GCM Forex review is dedicated to deposits and withdrawals.

The broker only supports two models of bank payments, including:

• Electronic Funds Transfer (EFT);
• Bank Wires.

Note that EFT is only acceptable from banks that GCM has agreements with, such as Akbank, Finansbank, Halk Bank, and Kuveyt Türk.

GCM Forex Copy Trading and Investment Plans

While the company doesn’t provide direct copy trading features, its research department has prepared seven Model Portfolios with thorough analytical data that traders can use to make informed investment decisions, including:

• ŞİŞE CAM;
• AKBANK;
• THYAO;
• TUPRS;
• TURKCELL;
• TÜRKİYE SİGORTA;
• BUCIM.

GCM Forex Broker Promotions

The company doesn’t offer any traditional promotions like deposit bonuses or welcome gifts.

 However, it has a comprehensive partnership program with various types, including:

• Up to $20 commission for each referred client;
• Introducing Broker (IB);
• PAMM accounts for strategy providers to manage their client funds.

GCM Forex Customer Support

GCM Yatırım offers 24/5 support through various channels, including:

GCM Forex User Satisfaction

Trust score is one of the most important topics in this GCM Forex review. There are not many reviews online regarding the Turkish broker.

Reputable review websites like TrustPilot and Forex Peace Army haven’t listed the GCM Yatırım.

Conclusion and Final Words

GCM Forex provides trading services on 5 asset classes, from CFDs to Options, through 5 different platforms, including MT4, MT5, GCM Trader, GCM Stock Trader, and Matrix Trader.

GCM Forex broker offers Forex trading with no commissions and two types of spreads: ECN and Standard. There are not many GCM Forex reviews online, so we can’t really talk about user satisfaction.

However, considering the wide range of educational resources and investment plans with comprehensive data analytics (e.g., Model Portfolios), registering on GCM Yatırım could be a good choice for Turkish Stock market investors.