gt.io Review 2023

gt.io is a FSCA regulated forex broker that accepts traders from Nigeria. They offer crypto CFD trading including other instruments. Read our complete review to know if they are worth it or not!

gt.io is a new STP forex and CFD broker established in 2020. gt.io is being developed as an international broker with a particular focus on South Africa. They accept clients from Nigeria as well.

gt.io is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa which is a reputable financial authority. Additionally, gt.io is licensed to operate by the Seychelles Financial Services Authority.

gt.io offers Islamic accounts which provide swap-free trading conditions. They offer one primary type of account which is the Standard account. This Standard account can be converted into an Islamic account by applying to their customer support team. Additionally, gt.io also offers demo accounts through which new players can learn to trade or practice their trading strategies.

gt.io offers the hugely popular MetaTrader 5 trading platform to its traders. This platform is available for Windows and Mac users on desktops and laptops. For smartphones, it is available on both Android and iOS. Additionally, traders can access this platform through their web browsers.

This broker offers more than 140 trading instruments including currency pairs, cryptocurrencies, indices, metals, energies, and stocks. They offer leverage of up to 1:500. Traders can use USD, EUR, ZAR, BTC, ETH, and USDT as base currencies. A primary advantage is that traders can use cryptos as a base currency, which is a feature that isn’t available with most comparable brokers.

In this review, we will take you through all the pros and cons of using gt.io with a particular focus on traders from Nigeria. We will also talk about the safety, trading conditions, customer support, and every other factor.

So let’s start from advantages and disadvantages of trading with gt.io.

gt.io – a quick look

gt.io Regulation and Safety

gt.io is a new broker and has a very short track record. However, they are a part of the GT Group which has many years of experience in the brokerage industry. Other brands operated by the GT Group include FXGT and CryptoGT.

gt.io is licensed to operate by the following financial authorities:

1. Financial Sector Conduct Authority (FSCA): gt.io is registered with the Financial Sector Conduct Authority (FSCA) of South Africa under the name ‘GT IO Markets (Pty) Ltd.’ and holds the FSP Number 48896.

2. FSA Seychelles: gt.io is registered with The Seychelles Financial Services Authority of The Seychelles under the name ‘360 Degrees Markets Ltd’ and holds the Securities Dealer’s License Number SD019.

Overall, we consider gt.io to be a safe broker for Nigerian traders because of their regulation with FSCA.

They are regulated by 1 Top-tier financial authority. Even though they do not have a long track record, they are run by the GT Group which has several years of history in the industry. They also adhere to safety practices such as negative balance protection and segregation of funds.

gt.io Nigeria Fees

gt.io does not charge a commission but they do charge a variable spread.

Here is a snapshot of all the trading fees charged by gt.io

1. Variable Spread: The spread charged by gt.io depends on the instrument being traded and the prevailing market conditions at the time of the trade. The spread starts from 1.4 pips for the benchmark EURUSD currency pair as well as the USDJPY currency pair. The average spread for the EURUSD currency pair is 1.6 pips.

2. No commission: gt.io does not charge a commission for each trade.
3. No Deposit and Withdrawal Fees: gt.io does not charge any fee for making a deposit or a withdrawal. A trader may be charged a commission by the payment service provider, depending on the mode of transfer of funds.
4. Inactivity Fee: gt.io charges an inactivity fee of $10 per month.

Overall, the fees charged by gt.io may be considered average when compared to other similar brokers. They do not charge a commission but their spreads are a bit higher compared to Hotforex, but lower than FXTM’s Cent account. They also charge an inactivity fee.

gt.io Account Types

gt.io offers Free demo account & 1 Live account type.

Demo Account

gt.io offers a demo account where traders can test their trading strategy. Trades can be made through virtual currency without using any real money.

Standard account

gt.io offers a single type of account which is called the Standard account. The Standard account offers a max leverage of up to 1:500 depending on the type of instrument being traded.

The minimum deposit for opening an account at gt.io is USD 5.

It only takes approximately 5 minutes to register an account with them and account opening procedure has been kept very simple. You will need to provide a few KYC documents to verify your account.

The average execution speed through this account is 0.12 seconds. The type of execution offered is market execution. Traders can do both scalping and hedging.

Traders can request that their Standard account be converted into an Islamic account. After opening a Standard account, traders can make a request to the customer support team or open a ticket at the client’s portal. An Islamic account can only be requested on the ground of religious beliefs.

How to open your Trading Account with gt.io

Trader need to follow just a few simple steps to open account with gt.io. We tested the procedure & have listed all the steps below. You can follow these steps one by one for opening account with gt.io:

Step 1) First of all you need to open the home page of gt.io website and click on ‘CLIENT REGISTER’ button at the top of the screen.

Step 2) Now you will be redirected to a page where you need to enter basic necessary information on the page to open an account with them.

Step 3) Once done with registering, you need will get verification link on your email. Check your email and click on that verification link to verify your user details.

Step 4) At last, you need to upload documents for verification by clicking on Alert message at the top of the screen after login as shown in this below screenshot.

All done! Your account would be verified after competing these steps. Now you can add the funds to your account to start trading with real account.

gt.io Trading Platform

gt.io offer Metatrader trading platform to traders.

1. MetaTrader 5 trading platform: gt.io offer the MetaTrader 5 trading platform to their traders. The MT5 trading platform is a very popular trading platform in the industry. It offers fast execution speeds.

   This trading platform also has a range of advanced analytical tools and technical indicators.

   The MT5 is available for desktops and laptops (both Windows and Mac), smartphones (both Android and iOS), and web browsers.

   The MT5 has a very intuitive user interface and it is easy to learn. It also offers greater control over open trading positions.

It should be noted that gt.io does not provide the MetaTrader 4 trading platform which is also very popular and is the earlier version of the MT5. They also do not offer any proprietary trading platforms.

gt.io Trading Instruments

Overall, gt.io offers an average range of trading instruments for traders. In total, they offer more than 140 trading instruments. Traders can trade 48 pairs of currency, 25 popular cryptocurrencies along with 7 unique synthetic pairs, 5 commodities, 53 stocks, and 8 indices.

It should be particularly noted that their range of cryptocurrencies is particularly wide. Below table from their website shows their Crypto CFD trading instruments.

However, cryptocurrencies and exotic pairs are not offered swap-free under the Islamic account.

gt.io Deposits and Withdrawals

Currently, there are a number of methods for deposit or withdraw of funds at gt.io for traders in Nigeria. But the local bank deposit method is not available currently.

Deposit Method

Traders can use cryptocurrencies such as BTC, ETH, and USDT to transfer/add funds to gt.io account. Additionally, traders can transfer funds by using the Skrill payment wallet.

Other means of transferring funds include Credit and Debit card transfers, bank transfer, and transfer through payment wallets such as Neteller and Sticpay.

Traders should note that gt.io does not charge any fees for making a fund transfer. However, a fee may be charged by the payment service provider.

Withdrawal Method

Trader can request for withdrawal initially using the same method that was use to add funds to your account.

gt.io Bonus

gt.io offers several limited time bonuses. The bonuses offered by gt.io differ from time to time.

Here are the different promotional offers available at the time of writing this review.

1. Special Deposit Bonus: gt.io is currently offering a special deposit bonus of 100% of the deposit amount. The maximum amount that can be claimed is USD 1000. This bonus is available to all clients who are making a minimum deposit of $50 to their MT5 account.
2. First Time Deposit Bonus: gt.io is offering an 80% deposit bonus to every client making their first deposit. The maximum bonus that can be availed is USD 500.
3. Anytime Deposit Bonus: They are offering a 30% bonus on every deposit that is made into an MT5 trading account. The maximum total bonus that can be availed by a trader is $70,000 throughout the lifetime of the account.

gt.io also has a robust partnership program. Members can earn lifetime commissions through their referrals. The commission can be up to $10 on major instruments, up to 40% on non-major pairs, up to 20% on cryptos, and up to 30% on other assets.

Overall, gt.io offers significantly better bonuses and promotions than other comparable brokers. However, they do not have a refer a friend program.

gt.io Customer Support

gt.io offers customer support through a dedicated email ID and a live chat option on their website. Traders can also get in touch with them through a contact form on their website.

1. Live Chat: We tried the live chat option while writing this review. The Live chat was connected in under 30 seconds after filling the chat box form, and the Live agent was available. But the responses were slow, still we found them to be helpful. The live chat option is available in English.
2. Email: Apart from live chat, customers can also write an email to their customer support team. Their email handle is [email protected] .
3. Phone: They do not have a phone number for customer support.

Overall, we found their customer support to be helpful and responsive. The biggest drawback is that they do not offer support through phone call.

Do We Recommend gt.io Nigeria?

Overall, we recommend gt.io for traders based in Nigeria if you are looking to trade with a regionally regulated forex broker.

They are regulated by the FSCA, which is a reputable financial authority. They offer an average range of instruments for trading. Traders can use the hugely MT5 trading platform to conduct their activities. They offer Islamic accounts.

The fees that they charge is reasonable. They do not charge any lot based commission. They provide a simplified trading experience by only offering one type of account. Their promotional offers are quite good.

However, there are a few drawbacks to trading with gt.io that need to be mentioned. They do not offer customer support through phone number in Nigeria. Their services are offered only in English, Swahili, and Somali.

They do not have a dedicated website for Nigerian users. They also do not have any local office in Nigeria. The deposit and withdrawal methods are quite limited at present.

We recommend gt.io primarily because they are a FSCA regulated broker and they provide better-than-average services.

"Do you have experience with gt.io? Please consider sharing your experience with a review below – good or bad – doesn’t really matter as long as it’s helpful to other traders!"