GCIFinancial

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

GCI Financial LLC and GCI

The Financial Services and Markets Authority (FSMA) warns the public against the activities of GCI Financial LLC, trading under the business name GCI, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.

GCI Financial LLC, trading under the name GCI, is not an authorized investment firm or credit institution in Belgium. It is therefore not allowed to provide banking and/or investment services in or from Belgium.

Furthermore, certain investment instruments offered by this company, i.e. binary options, forex products and CFDs, are speculative and involve significant risks, with the investor in such products running the risk of losing the entire amount invested. The FSMA published a warning in June 2020 about the risks associated with speculative transactions in foreign currencies (forex) and another one in May 2020 about the risks associated with binary options.

Finally, GCI Financial LLC (GCI) has not published a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

The FSMA therefore strongly advises against responding to any offers of financial services or to any public offers of investment instruments made by GCI Financial LLC (GCI) and against transferring money to any account number it might mention.

GCI Financial LLC (GCI) claims to have its registered office in Anguilla (Mitchell House, The Valley, B.W.I.). It uses the website www.gcitrading.com, the phone numbers +1 800 604 2412 and the email address [email protected]

According to the information available to the FSMA, the Belgian financial consumers who invested with this company have to date been unable to recover the sums invested.

The FSMA recommends vigilance with regard to companies such as this one which offer binary options, forex products and/or CFDs. Always verify that any company which is offering you financial services has the requisite authorization. For more recommendations, please consult the general warning published by the FSMA on 18 April 2020 on its website.

Gcitrading.com Review Visit site

January 24, 2020 Update: The FPA has lifted the Scam Finding agaist GCI. The client who made the complaint and GCI have reached a mutually satisfactory agreement. The FPA considers that issue to be fully resolved.

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

  • Live Discussion
  • Video
  • 13 Widgets
  • More .

Live discussion

Join live discussion of Gcitrading.com on our forum

Video

Your company video here? Contact ad sales

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Consumer Reviews

Service use: Live

Length of use: 3-6 Months

Service use: Live

Length of use: over 1 Year

THEY ARE A BUNCH OF SCAMMERS. I DEPOSITED MONEY IN THE ACCOUNT THEY MENTION ON THEIR WEBSITE. IT WAS NEVER DEPOSITED IN MY ONLINE ACCOUNT. THESE PEOPLE ARE CROOKS. THEY TOLD ME THEY NEVER RECEIVED THE FUNDSAND STATED THAT THEY CLOSED THE ACCOUNT AFTER I ALREADY SENT IT

DO NOT TRUST THEM. THEY DONT HAVE A REGULATORY BODY AND WILL NOT HESITATE TO SCAM YOU

Service use: Live

Service use: Live

Length of use: 0-3 Months

Yes. At least they scammed me in those dimensions:
– They tricked me into business with unrealistic swap rates.
– They used last minute swap rate change as extra fee, while their frequency and amount of swap rate change was out of normal.
Those are my conclusions. I by hard encourage you to draw your own conclusions.
Ok, let’s get started with what happened:
GCI Trading offers ECN and non-ECN-currencies to be traded and a good months ago I realized that their swap rates are quite different. I became curious, if this allows for swap arbitrage trading. So, I coded some tooling to export all swap rates and did a full export to file on 2020-May-02. Here are two examples:
Pair Currency1 Currency2 SwapLong SwapShort
AUDUSD AUD USD 3.25 -8.5
AUDUSD.s AUD USD 3.5 -7.5
EURGBP EUR GBP -2 0.2
EURGBP.s EUR GBP -5.95 3.5

This was really exciting. This says, if you buy a lot EURGBP and sell a lot EURGBP.s, you will pay 2% swap, but get 3.5 %. So, you end up net-getting 1,5 % swap by just opening that kind-of-hedge-position. Since the base for swap is not any margin but 100.000 USD or Eur per lot per year this is quite some money. I was really astonished and wondered if I made a thinking mistake and how GCI trading is financing that on their side. So I extra checked and confirmed that my swap export correlates to what Metatrader is showing in specifications and I did a little test and opened those positions on a Thursday:
Open Time Type Size Item Price
02.05.2020 15:18 sell 0.01 eurgbp.s 0.85771
02.05.2020 15:18 buy 0.01 eurgbp 0.8580

And really, swap for eurgbp.s increased slightly faster than it decreased for eurgbp. The three days swap for eurgbp.s comes in on Wednesday and for eurgbp Friday. That said after Friday there was a dip in that swap arbitrage net gain which got healed on Wednesday.
On Thurday I was really thrilled. My test was successful. It showed me, that after 20-30 days that extra swap would over-compensate my initial investment to open those positions with paying a good amount of spread. Another learning was how to open positions to play on the save side in terms of adding own margin on top of the CGItrading margin. Also – since the test was successful – I made up myself some explanation how GCItrading is financing that. The explanation for myself was, that they just ordered on different markets in the backend. I mean, I tested that. What else can I do?
Already while the test was running (and while it looked more confirming from day to day) I captured swap rates another time on 2020-May-06 (Monday). I was wondering, if there was another currency set with an even more profitable swap difference. Here is another extract from that day:
Pair Currency1 Currency2 SwapLong SwapShort
AUDUSD AUD USD -3.85 -0.25
AUDUSD.s AUD USD 3.5 -7.5
EURGBP EUR GBP -2 0.2
EURGBP.s EUR GBP -5.95 3.5

And, wow, look at that: Selling AUDUSD and buying AUDUSD.s gives you 3.5-0.25=3.25. This is very compelling. Rendered break even for that is definitely 5% swap on the long side for as long as I can remember, but definitely for the last 6 months. Today (2020-06-03) I doublechecked: It is still 5.8% swap long for AUDUSD on their end, while GCI trading still goes for -4.5%. Again, draw your own conclusion. My conclusion is: GCI trading is raising swap for their extra income, totally decoupled from the market. Do not fall into that trap! I mean, even if you do not do swap arbitrage, but just ‘standard’ trading, they likely add extra fees on your shoes hidden under the label ‘swap’. And before doing so, they tweak their numbers to make you invest your bugs.
So that for me is swap scam. On 2020-05-10 I closed all positions and sent them a request to claim all my money back to my local bank. On the request I put the issue. There were some discussions going back and forth. In the chain of argumentation they gave me back the 26 Eur swap they charged me in the original trades. So now they are arguing about to be very customer friendly ignoring deliberately that I would not have done any deal with them if their swap rates would not have made me believe swap arbitrage would be possible there. They still hold back those 751.73 Eur, that they robbed from me as spread by tricking me into business with fake swap rates.
This article is there for helping you to conclude own decisions. Hope this helps. Do not let yourself getting tricked by the same SCAM!

gcifinancial.com

2020 Copyright. All Rights Reserved.

The Sponsored Listings displayed above are served automatically by a third party. Neither the service provider nor the domain owner maintain any relationship with the advertisers. In case of trademark issues please contact the domain owner directly (contact information can be found in whois).

Los mejores corredores de opciones binarias 2020:
  • Binarium
    Binarium

    1er lugar! El mejor broker de opciones binarias!
    Ideal para principiantes! Entrenamiento gratis! Bonos de registro!

  • FinMax
    FinMax

    2do lugar! Gran corredor!

Opciones binarias de la A a la Z
Deja un comentario

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: