FREQUENTLY ASKED QUESTIONS
Frequently Asked Questions
- What products can be traded on the Goldstar Online Trading (GOT) CFD platform?
- What are the commissions charged by GCI?
- What is a "CFD"?
- What products can be traded on the Goldstar Online Trading Standard Forex and Mini Forex platforms?
- What are the trading hours for particular products?
- How do I open a free Demo account?
- How do I open a Live account?
- I have already the Goldstar Online Trading account and I want to open second account of the same or different type. What should I do?
- Where can I receive more information on the minimum deposits for account opening, the withdrawal processes etc.?
- How does GCI make money without charging a commission?
- Is GCI Financial Ltd a licensed broker?
- How I can be sure, that my funds are safe once I make a deposit with GCI?
- What does GCI offer that others online brokers do not?
- How do I withdraw funds from my account?
- How do I deposit funds to my account?
- What if I have questions, trade disputes, or complaints?
- What are the account opening minimums?
- What are the margin requirements?
- What are the processes of GCI cooperation to account opening and acceptance of funds?
- What is the process to get the Bonus with the Live account opening?
- How is the exchange income taxed?
- Are there any commissions for the execution of the market orders and processes?
What products can be traded on Goldstar Online Trading (GOT) CFD platform?
Stock market indices, individual stocks, currencies, and all major commodities like crude oil. A complete list is located on the page CFD Contract Specification.
What are the commissions charged by GCI?
All trading with GCI is commissions free (zero commissions). There can be a small cost of carry for holding positions overnight, as described on the page Cost of Carry.
What is a "CFD"?A "Contract for Difference". It is an efficient means to enjoy the economic results of trading in shares and indices, without factually buying or selling on the exchange. This often leads to lower transaction costs and greater efficiency. Further information can be founded on the CFD Trading page.
What products can be traded on Goldstar Online Trading Standard Forex and Mini Forex platforms?
15 main cross-rates, gold, silver and main equity indices. Complete list together with spreads of particular assets can be found at Spreads, Ask and Bid.What are the trading hours for particular products?
Forex and some CFD products, as for example S&P 500, can be traded 24 hours a day. Detailed hours for particular products are specified in the CFD Contract Specifications. GCI trading hours are from Sunday 17.00 EST to Friday 16.00 EST.
How do I open a free Demo account?
Click Open a Free Demo Account and follow the instructions.
How do I open a Live account?
Click Open a Live Account and follow the instructions.
I have already the Goldstar Online Trading account and I want to open second account of the same or different type. What should I do?
1. Deposit additional funds to your new account.
2. Advise to GCI admin2@gcitrading.com, that you have an existing account and provide the number of this account.
3. Advise to GCI admin2@gcitrading.com, that the funds are to be placed on the new account, not the existing one.
They will send you shortly your Login data for the new account.
Where can I receive more information about minimum deposits for account opening, the withdrawal processes etc.?
See the page Types of Accounts
How does GCI make money without charging a commission?
The same way that banks have made money dealing in foreign exchange for decades without commissions - GCI is a primary market maker and seeks to capture a portion of the bid/ask spread (the difference between the buy and sell price). The same costs of trading apply to traditional futures trading, but there are more parties involved: the futures exchange and floor brokers profit from the bid/ask spread, while the FCM keeps the commission and shares it with Introducing brokers. GCI does not use an exchange and therefore does not need the extra fees to be profitable.
Is GCI Financial Ltd a licensed broker?
Yes. GCI Financial Ltd objects of incorporation allow it to deal in shares, futures, options, commodities, and securities; the registration number is 489574. Click here for details from Memorandum of Association.
How do I know my funds are safe once I make a deposit with GCI?
GCI Financial Ltd maintains a rigorous policy of holding client funds in separate bank accounts from firm operating capital. These funds are never commingled and GCI ensures that client liabilities are fully funded. In addition, GCI Financial Ltd boasts a balance sheet with net capital in excess of most minimum regulatory requirements. Please see Deposit and Withdraw of Funds for more details.
What does GCI offer that others online brokers do not?
We believe that low cost of trading, safety of funds, excellence of trading software, quality of execution, and breadth of product offerings are the primary features that set us apart from our peers. GCI has the widest range of products (currencies as well as S&P500, Dow Jones, Shares, and Commodities) offered at zero commissions, and with lower margin requirements than the exchanges or other brokers. In addition, client confidentiality and a tax-free jurisdiction are unique GCI benefits. Please see Advantages for You for more details.
How do I withdraw funds from my account?
Via faxed request, which can be downloaded from our Deposit and Withdraw of Funds page. Withdrawal requests are processed within two business days of receiving this form, although usually the same day. You can receive funds in any major currency via the bank wire transfer.
How do I deposit funds to my account?
Via the bank wire transfer, credit card, PayPal, or e-Gold. It is necessary to fill in the Deposit Information Form after you have sent the funds. Please see our Deposit and Withdraw of Funds for details.
What if I have questions, trade disputes, or complaints?
GCI prides itself on a very low rate of trade disputes and complaints. Any trade disputes that are market price and time sensitive should immediately be brought to the attention of our dealers via telephone (www.gcitrading.com/contact.htm) or chat (www.gcitrading.com/chat for CFD clients).
What are the account opening minimums?
2.000 EUR or USD for the CFD & Forex Account and ICTS Forex Account.
What are the margin requirements?
25,- EUR/USD per lot for all products on the ICTS Forex Standard Account ; 5% on individual shares and 25,- EUR/USD on other products on the CFD & Forex Account. Please see the page CFD Contract Specification for lot sizes and other details.
What are the processes of GCI cooperation to account opening and acceptance of funds?
GCI has got very strict regulations for the account opening and manipulation with the client’s accounts. The third party payments are not allowed and the acceptable identification must be enclosed for the account opening. Other guarantees are necessary and they are mentioned here www.gcitrading.com/kyc. These measures help to keep the integrity of financial services and enables GCI to provide the highest level of additional services to their clients.
What is the process to get the Bonus with the Live account opening?
You can ask for the bonus directly at GCI Financial Ltd. using the email: admin2@gcitrading.com. In case you are not sure in your english, you can write us an email, where you provide your name, it means the name your trading account is open on, the account number and the message saying you would like to receive the bonus. We would be pleased to help you to get your bonus.
How is the exchange income taxed?
It is taxed according to the law about the income tax of particular country, where the trader has got his citizenship or the company registration (if it is an legal entity).
Are there any commissions for the execution of the market orders and processes?
The market orders execution is not the subject of payments, there are not any fees. There exist only the cost of carry commissions. More information here.
