Based in Johannesburg, South Africa; GT247 is an online brokerage firm that has been offering online trading in multiple financial instruments since 2000. GT247 offers over 250 financial instruments across different markets, such as forex, indices, commodities, stock CFDs, and cryptocurrencies, for trading via the sophisticated and powerful MetaTrader 5 trading platform. The broker offers clients an efficient client support desk and modern infrastructure that helps to ensure reliable trade execution speeds with competitive spreads.
GT247 Review Introduction
In this GT247 review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including GT247.
GT247 Platforms & Tools
The broker provides traders with the renowned MetaTrader 5 trading platform. It was developed in 2010 by the Russian software company, MetaQuotes. MT5 is a sophisticated trading platform that delivers a superior online trading environment with an abundance of analytical tools and a fully customizable user-interface. It has built-in Virtual Private Server (VPS), multiple chart types, and several 38 technical indicators, amongst other features.
GT247 presents the MT5 trading in three versions as follows:
- MT5 Desktop: This is the flagship version; it contains the full features and capabilities of the MT5 platform. The MT5 desktop platform can be downloaded and installed on Windows and Mac computers/laptops.
- MT5 Web Trader: It is built with HTML5 and runs directly on most web browsers, such as Chrome, Safari, Firefox, and Edge, thus eliminating the need to download or install any additional software.
- MT5 Mobile App: The MT5 mobile trading platform is developed for Android/iOS devices and can be freely downloaded from the respective app stores. It enables traders to manage their accounts and place trades while on the go.
The broker also provides clients with a good range of useful trading tools in addition to those built into the MetaTrader 5 trading platform. They include Margin Calculator, which helps to know the percentage margin required before starting a trade; Economic Calendar that displays the upcoming economic events and their expected impacts on the markets; Market News; Research Notes; and a range of MT5 built-in tools.
GT247 Research & Education
The broker provides clients with a variety of educational resources, which help to improve their overall trading skills and knowledge. They include training articles and lessons on a variety of topics such as technical analysis, charting patterns, and more.
GT247 Trading Accounts
GT247 offers 3 types of trading accounts to its clients, and they are as follows:
- ZAR Account: This account type is denominated in the South African Rand.
- USD Account: It is denominated in United States dollars, so it is designed for international clients.
- Demo Account: It is freely available for practice purposes and is preloaded with R100,000 in virtual funds.
The maximum leverage is 1:80. A monthly inactivity fee of $10 is charged on accounts that have not traded for up to 12 months. The broker does not charge currency conversion fees when using an account in your own currency.
GT247 Account Funding
The broker offers bank transfer and Credit/Debit Cards as the available account funding and withdrawal options. Transaction fees apply, while the transaction processing time depends on the payment method used.
GT247 Customer Service
GT247 has a dedicated customer support team that is available 24/5 and can be reached via telephone or email. They are also available on popular social media handles.
GT247 is a subsidiary of Purple Group Ltd, which is authorized and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. It is a licensed financial service provider with the FSP license number: 46315.
GT247 Review Summary
GT247 is an established broker that is based in South Africa and regulated by the Financial Sector Conduct Authority (FSCA). They provide traders with the powerful MetaTrader 5 trading platform for trading over 250 financial instruments.
It is worth mentioning that some of the trading products and services in this GT247 review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the GT247 broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.