According to our team’s research, GTPcapital does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
Top10BinaryDemo cannot confirm that GTPcapital can offer you a demo account. In order to avoid risking real money you can Proceed to an Approved Broker with Demo Account OR choose from the Top Demo Brokers:
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GTP Capital Broker Review
Global Trading Partners, known as GTP Capital, is a binary options broker platform for generating of online income through trading binary options. Owned of Oasis Valey LTD, it is a fairly new broker and not much is known about its quality of service. That is why we conducted our investigation on GTP Capital. It is very important to be well-informed when choosing your brokerage counterpart, and our reviews are aimed at aiding you on your way among all the scam brokers on the market.
Is GTP Capital Legit?
Since Global Trading Partners is so new, we cannot guarantee with 100% certainty if it is scam or authentic. What we do know is that GTP Capital is not licensed or regulated. Of course, there are some brokers which have proven themselves reliable, even though they are not regulated by CySEC or other financial authorities.
We cannot guarantee that to be true about GTP Capital. According to their website, they apply the KYC and AML policies. In other words – Know Your Customer and Anti-Money Laundering rules that should to some extent guarantee safety and security in using their services. But it does not. We would not recommend GTP Capital to the day-trader, there are still enough reasons to doubt the integrity of this newly introduced broker.
Trading Tools of Global Trading Partners
You do not have to be versed in economics and finance to trade in the binary industry. But having at least some basic knowledge of it can greatly benefit you as a day-trader. Quality brokers know that and provide trading tools and educational materials for the investor to learn from. Usually, the advanced tutorials and features are restricted to registered users only. But there is still enough information to get you started in the trading world of binary options.
This is not the case with GTP Capital. All of their trading tools, like video tutorials, economic calendar and even their e-book are restricted to registered users only. This does not speak well of them. It makes Global Trading Partners look like an unreliable trading partner. Providing free educational materials builds trust and incites loyalty in the trader. They obviously do not need that. We would recommend that you choose a broker that can provide you with at least the basic knowledge you might need to start trading with binary options.
GTP Capital & Account Types
The usually required minimum deposit for opening a basic trading account with a broker is around $200-$250. Very few brokers stray from this amount and in most cases those turn out to be a scam. So is GTP Capital a scam since the minimum required deposit to start trading is $500? The whole spectrum of account types, offered by Global Trading Partners follows:
- Trial Account – The minimum deposit for it is $500.
- Basic Account – The minimum deposit for it is $5,000.
- Trader Account – The minimum deposit for it is $10,000.
- Pro Plus Account – The minimum deposit for it is $50,000.
- VIP Account – The minimum deposit for it is $100,000.
- Millionaire Club – The minimum deposit for it is $500,000.
You can look at that offer any way you like, but it obviously is not fair. We cannot guarantee that GTP Capital is a hoax, but you can find much more reliable brokers that have proven themselves, which offer a basic account for the standard amount. Not to mention that the Trial and Basic accounts of GTP Capital provide zero benefits. And if someone could afford the other account type, we doubt he or she would even trade in binary options.
Services of GlobalTradingPartners
We cannot consider the following list of features as benefits, that is why we would treat them as services provided by GTP Capital.
- Social Trading – this service gives clients of GTP Capital the chance to look at how other people trade.
- Follow Me – this service combines the Social Trading with technology. Accounts can be linked together and you can choose a trader whose investments you want to mimic. All this happens automatically. Remember that this hides a lot of risks, since results might be fabricated and you might be actually linking your account to a fraud that aims at depleting your account balance.
- Signals – third party companies compile signals for the clients of GTP Capital. We cannot guarantee that these signals are with a good quality.
- Algo Trading – Global Trading Partners’ account you open can be linked to a binary trading system. The robot will run on autopilot and execute trades instead of you. Since we do not think it is wise to join GTP Capital, we do not think that their software will be reliable.
Deposits & Withdrawals
Clients of Global Trading Partners can make a wire transfer or use only credit cards to transfer funds between their personal and trading accounts. This is quite limiting. The withdrawals can also take up to 7 business days to be executed. GTP Capital also has very misleading bonus policy and margin-loans, which restrict the trader to withdraw funds before reaching a certain turnover.
After our research we concluded that GTPcapital does not provide a demo account.
The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.