GCM Binary Options Review
GCMBinary is Closed 5/2013
Editor’s Note – Why does GCM Binary Suck in 50 Words
GCM Binary created a unique trading platform, unlike most brokers that just purchase an already prepared one. Usually, the unique platforms are my favorite ones, GCMBinary trading platform makes an expectation. The charts take a few seconds to refresh, user interference is not the best, and it lacks trading tools and options.
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Why GCM Binary doesn’t Suck in 50 Words
Firstly, it’s a known brand (Forex). It’s always safer to trade with a good forex broker. Second, the free no strings attached virtual account. While most brokers require a minimum deposit or other restrictions, GCMBinary hands out demo accounts to everyone. Practicing binary options trading is much more efficient with a demo account; unfortunately the trading platform is not the best…
GCM Binary Full Review – From Forex to Binary Options
GCM – Gallant Capital Markets LTD- is an authorized and regulated brand by the Financial Services Commission (“FSC” (BVB)) under the Securities and Investment Business Act. GCM Binary options trading platform was launched around the end of 2011 and is based on unique trading platform which is a 100% web based with no need for any software to be downloaded. GCM are no stranger to online trading. GCM Forex trading broker was opened to business around two years ago; Thank to their success in that field and the increasing demand for binary options trading, GCM have launched the new GCM Binary Options trading platform. After a couple of months tracking GCM Binary progress, thatsucks.com team finally finished gathering all the information needed, all that’s left to do for our readers is to write us their comments and experience with GCM Binary.
As a relatively fresh Binary Options Broker, GCMBinary are doing their best to break into the market, but unlike most new binary options brokers GCM already have some experience in on line trading. This past experience is reflected in many areas – firstly, advertising and promotions. Although GCMBinary is quite fresh, you can already find their name in many binary options review sites and also forex review sites. Second, the unique trading platform provided by GCMBINARY. Many wannabe binary options brokers are buying a white label trading platform, GCMBinary have created one. I always tend to like unique trading platforms; it says something about the broker. However, I didn’t find GCMBinary trading platform so good. More work on the trading efficiency is required as there are lots of troubles concerning the user interference. Last, the demo account. No hidden catch, no strings attach, just a free binary options demo account for practice before trading real money. Adding the above with the relatively high returns, these advantages make GCM Binary a fine beginner broker.
Is GCM Binary a Scam?
As their Website says- “We are a regulated binary options broker”. As a regulated binary options broker GCM Binary claim a high rank in Bots.com reliability test. However, as far as we know GCM have claimed their regulatory in the Forex field, not in Binary Options. Forex today is regulated in many countries, Forex companies now days are operating around the world with turnover of millions. Binary Options is still young compared to Forex, the regulation in binary options has just made its first steps, therefore, when a company is a regulated forex brand, it doesn’t have the same regulatory implications on binary options. Of course, I’m far from saying that GCM Binary are a scam. I think that the whole “regulation” thing, which is the main GCMBinary theme, is mostly an adverting promo. Whether GCMBinary are a fully regulated binary options brand or not, they don’t look like a scam to me. GCMBinary looks pretty transparent, when it comes to funding and trading both. Overall, I found this company honest. Nevertheless, I would wait and see how Binary progress. There are other regulated or on regulation process brokers much more reputed, plus, I think that over the next year many more brokers would become regulated.
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GCM Binary Complaints
ThatSucks.com (former BinaryOptionsThatSuck.com) team is always looking for costumer’s comments over the web, making it simpler to our visitors. This is what we found when searched for GCM Binary complaints and scam alerts: Not even one single bad critic. Nevertheless, we couldn’t find any good comments either. Let us know if you know more than us!
GCM Binary Bonus
The bonus at GCM binary is 25% for any initial deposit. I couldn’t find the wager all over GCM Binary website.
GCM Binary Withdrawal
Most binary options review sites would tell you how to deposit, bots.com are focused on how to withdraw. As for GCM Binary, the only Withdrawal method is wire transfer.
GCM Binary Ratings
User Friendly
GCM Binary platform is 100% web based platform, with no need for any software to be downloaded. Their platform is unique; the only broker that uses this platform is GCM Binary itself. The website appearance is great looking, modern and very user friendly. The site is very clean and elegant as well as the trading platform. There’s a FAQ section and complete tutorial, plus a free demo. GCM Binary website is only available in English.
No. of Assets and Expiry time
Total of 20 Assets: 7 stocks, 6 currencies (forex), 3 commodities, 4 indices. GCM Binary seriously lacking in their selection of assets and expiry times. Overall 20 assets and very short selection expiry times are just not enough to be considered as a top broker.
Commissions, Support and Effective return
GCM Binary doesn’t charge any fees or commissions from costumers when they first deposit. Withdrawal via wire transfer is charged with a 50$ fee. GCM Binary support is available via 7 international numbers in Europe and the Far East, or via email and Skype. The live chat service is very quick and extremely helpful. The effective return is among the average-high in the industry- 82% In-The-Money with an 80% average return for most assets. Out-of-Money refund is around 5%.
Deposit, Payment and Bonus
GCM Binary Minimum deposit is average – 200$ or 200€. Deposit is available via C.C., Wire transfer, MoneyBookers and many more. Withdrawals are only available via wire transfer. GCM Binary offer a welcome bonus of 25% for the initial deposit.
Website Extra’s
Other then common trading tools such as extend and close now, the only great extra from GCM Binary platform is the Free no strings attached Virtual cash account which is so easy to start and good for learning.
GCM Binary rating set to 0 – Platform is no longer active
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