Gtradex Review

General Information

Broker Name: Gtradex

Broker Type: Forex

Country: Austria

Operating since year: 2008

Regulation: N/A

Address:   Vienna, Austria

Broker status: Active

Customer Service

Phone: N/A

Email: [email protected]

Languages: English

Availability: 24/5

Trading

The Trading platforms: Proprietary

Trading platform Time zone: N/A

Demo account: No

Mobile trading: Yes

Web-based trading: Yes

Bonuses: No

Other trading instruments: Yes

Account

Minimum deposit: $250

Maximal leverage:  1:500

Spread: Floating

Scalping allowed: Yes

CONTENT

• General Information & First Impressions
• Fund and Account Security
• The Trading Accounts
• Gtradex’s Trading Platform 
• Funding and Pricing
• Trading Products at Gtradex
• Customer Service at Gtradex
• Conclusion

 

Broker Review: Gtradex (gtradex.net)

 

General Information & First Impressions

Gtradex is a brokerage that’s been around from 2008, providing trading services on various CFDs. One concern is that it seems to be fabricating that foundation date, but more on that later. It’s an Austrian company with offices in the capital, Vienna, but with no clear address on its website or elsewhere. Gtradex is an unknown broker, and there’s very little info about it online. As such, our Gtradex review will help you determine whether or not you should consider signing up.

One thing we noticed right off the bat is that there’s very little substance to Gtradex’s website. Most of it seems to be promotional materials, such as awards from dubious sources or trading numbers. It would be nice if we had any way to verify their reputability, but that’s impossible. Both of those are extremely simple to make up, and a lot of shady brokers do exactly that. So right from the start, we can ask ourselves: is Gtradex a scam.

Naturally, our review will go into more detail over its course, but the initial impression is already leaning towards negative. To tilt it over, we should also note that the website doesn’t run well at all, and is quite disorganized. You can’t find what you need to know, and a lot of info seems like the broker intentionally left it out. Because all of that, our Gtradex review is not off to a great start.

 

Fund and Account Security

beginners so it could trick them. Here are some of the account features on gtradex.net:As we said already, security was one of the primary concerns from our initial impression of Gtradex. The broker doesn’t seem to have much substance and instead tries to lure users in. We can see that by the way it promotes irrelevant info on prominent places all across gtradex.net. Another apparent way to see it is when you look at the broker’s service, a lot of crucial information is missing.

For example, we couldn’t find Gtradex’s address anywhere on its own website or other online sources. That’s quite a massive warning sign for online brokerages, as it may indicate that they’re not actual companies. Because of that, you’d be right to ask, is Gtradex a scam? Along the same line, the broker doesn’t have a phone number, raising further suspicions.

Another thing we wanted to draw attention to is that Gtradex claims it’s been around since 2008. However, there’s no proof of that anywhere, with information regarding it only surfacing recently. That’s a blatant attempt to feign experience where the broker is actually just starting out.

Even if the company were around from 2008, that doesn’t exactly work in its favor. People rightfully judge experienced brokers harsher than newer ones since they’ve had more time to polish their services. Gtradex is disorganized and quite poor quality-wise, with nearly no security features. That means no regulation or anything of the sort. Because of all of that together, Gtradex receives a very low trust score from us.

 

The Trading Accounts

Whereas we’ve been talking primarily about security until now, it’s time to move on to the trading-related details. However, Gtradex doesn’t do much better in that regard, if it’s better at all. Namely, we can see that Gtradex has a tiered account setup, with the cheapest account requiring the regular $250 deposit. So far, that’s not out of the norm.

However, once you look at some of the account features, the setup becomes confounding. For starters, the spread starts at 0.5, which is quite high, drops to 0.1, which is alright, and then leaps to 0.7. So as you progress, your trading conditions get actively worse, and it becomes harder to earn money. Further speaking to that, the commissions on trades actually increase as you go up account tiers.

It seems like the broker is actively trying to discourage high-budget traders from signing up. That may be a sign of incompetence, or just the broker wanting to attract complete 

Basic

• Minimum Deposit to Start: $250
• Maximum Leverage: 1:80
• Minimum spread: 0.5
• Forex, Indices, Commodities: 0 Commissions
• Account Manager Assistance: No
• 24/5 Customer Service: No

Premium

• Minimum Deposit to Start: $2,500
• Maximum Leverage: 1:150
• Minimum spread: 0.1
• Forex, Indices, Commodities: Commission from €3.50 per lot
• Account Manager Assistance: Yes
• 24/5 Customer Service: No

Business

• Minimum Deposit to Start: $25,000
• Maximum Leverage: 1:500
• Minimum spread: 0.7
• Forex, Indices, Commodities: Commission from €10 per lot
• Account Manager Assistance: Yes
• 24/5 Customer Service: Yes

 

Gtradex’s Trading Platform 

Gtradex’s platform is a standard proprietary platform, which the broker tries to sell as the best thing ever. Whatmore, the software doesn’t even seem to have mobile or downloadable versions, stifling its functionality. Also, for retail traders, it’s quite important to have a mobile client so that you can respond to sudden market shifts. The absence severely damages trading prospects and makes traders less capable of responding to the market.

 

Funding and Pricing

Earlier in our Gtradex review, we discussed the odd pricing choices that make the experience worse as you invest more. Here, we’d just like to reiterate that and add that the broker is unclear about any further fees. So while the broker doesn’t explicitly state it does charge you, it’s still entirely possible. Shady brokerages often include hidden fees and charges, and we’d definitely place Gtradex in that category. 

And since the broker is relatively expensive pricing-wise, you’d expect excellent conditions. Sadly, that’s not nearly the case as the broker’s trading is underwhelming, if anything. The leverage cap is low, with limited analysis and no educational features to use. Altogether, that makes for a frustrating trading experience with difficulties in maintaining profits.

 

Trading Products at Gtradex

One thing that Gtradex does moderately well is that it provides users with various asset choices. We’re not saying that nearly outweighs all the negatives, but we give praise where it’s due. The broker has 1,500 assets spread over all the major trading categories, constructing a solid library. Mind you, that’s not to say the selection is amazing; it’s just not as poor as the other features. Here are the trading categories at gtradex.net:

• Stocks
• Forex
• Indices
• Commodities
• Cryptocurrencies

 

Customer Service at Gtradex

Gtradex has an X under the 24/5 customer support tab where its two cheaper accounts are. That either means they can’t get support or that it works much shorter. It’s ridiculous that the broker doesn’t disclose more about such a crucial piece of information. Even then, users online seem to be very discontent with the response times and professionality of the support team. Lastly, email is the only method of reaching the brokerage, which is notoriously slow.

 

Conclusion

Gtradex is a brokerage with a poor security score and a poor user experience. The highlight of its trading is the fact that it has 1,500 assets, and even that’s not impressive in the modern brokerage world. And that very slight positive doesn’t justify using the brokerage. To wrap up our Gtradex review, we’d like to implore you against using its services. Find a better alternative where you can trade both safely and comfortably.