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 the Forex broker:
Broker | GCM Forex |
Account Types | Forex, Options, Futures, Stock |
Regulating Authorities | CMB |
Based Currencies | US, EUR, TRY |
Minimum Deposit | 50,000 TL |
Deposit Methods | Wire Transfer, EFT |
Withdrawal Methods | Wire Transfer |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:10 |
Investment Options | Investment Model Portfolios |
Trading Platforms & Apps | MT4, MT5, GCM Traders, GCM Stock Exchange Traders, Matrix Trader, Option Traders |
Markets | Forex, CFDs, Options, Stocks, Futures |
Spread | Variable based on the account type |
Commission | No commission for Forex pairs |
Orders Execution | Market |
Margin Call / Stop Out | Margin Call 50% |
Trading Features | Stock Investment, Turkish Stocks, Affiliate |
Affiliate Program | Yes |
Bonus & Promotions | Partnership |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Call Back Request, Email, Mail, Tel, Fax, Live Chat |
Customer Support Hours | 24/5 |
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 Broker Pros and Cons
Like any broker, GCM Forex has its strengths and weaknesses.
Here's a balanced overview of the pros and cons of trading with the Turkish broker.
Advantages | Disadvantages |
Various markets and instruments | Lack of licensing from tier-1 regulatory bodies |
Comprehensive educational resources | Limited deposit and withdrawal options |
Research and analysis center | Higher spreads compared to some competitors |
Advanced trading platforms | No TradingView support |
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:
- Visit the broker’s official website at “https://www.gcmyatirim.com.tr/”;
- Click “Open New Account”;
- Choose your preferred market from Forex, Options (Opsiyon), Futures (Viop), or Stocks (Borsa);
- Fill out the sign up form;
- Click “Open Live Account” in your client area;
- Fill in the registration form;
- 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
- MT4 Android
- MT4 iOS
TradingFinder has developed a complete list of advanced MT4 indicators that you can use for free.
GCM Trader
Usable for trading Forex and Options with the broker, available on mobile devices, including:
GCM Stock Trader
Exclusive to trading Turkish and international stocks with GCM Forex, available in the following versions:
Matrix Trader
Matrix Mobile IQ and Matrix Data Terminal for catching up to the latest news and trading stocks:
- Web Terminal
- Matrix Trader Android
- Matrix Trader iOS
GCM MT5
Available for Options and Futures trading, accessible across various operating systems, including:
- Desktop
- WebTrader
- GCM MT5 Android
- GCM MT5 iOS
You can find various advanced and free MT5 indicators on TradingFinder.com.
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.
Instrument | ECN Spreads (Pips) |
EURUSD | 1.7 |
USDCHF | 1.6 |
USDTRY | 2 |
GBPUSD | 1.6 |
EURTRY | 2 |
USDJPY | 1.6 |
GBPTRY | 2 |
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:
bilgi@gcmyatirim.com.tr | |
Tel | Forex 0 (212) 345 0 426 Futures +90 (212) 945 84 67 |
Fax | +90 (212) 345 04 02 |
Eski Büyükdere Street, Park Plaza, Floor 14, Maslak, Sarıyer/Istanbul, Turkey | |
Live Chat | Available on the “Our Contact Offices” page |
Call Back Request | Submit a request via the “Contact Form” |
GCM Forex Geo-Restrictions
While the broker doesn’t restrict certain areas, it indicates that use of the trading services is conditional to the client’s country's local laws. Users can only trade with GCM Forex if their country doesn’t prohibit such activities.
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.