Frequently Asked Questions

Basic Questions & Answers

Forex, or FX, stands for Foreign Exchange and is the market where currencies are traded. Trading Forex is essentially the process of speculating on the value of one currency versus that of another. The Forex market is the largest financial market in the world, with daily volumes hitting several trillions of dollars. As there is no central exchange, currencies are traded 24 hours a day from Sunday evening to Friday night.

Foreign exchange prices represent the value of 1 unit of one currency versus another. For example, if 1 Euro was worth 1.13 US Dollars, the price for the Euro versus the US Dollar (EUR/USD) would be 1.13000. Forex rates are affected by several economic factors, such as interest rates and inflation, and also political factors, which can all impact the value of one currency versus another.

GICM provides an ‘Over The Counter’, leveraged trading service to our clients. Our trading accounts allow our clients to speculate on the price movement of currency rates whilst never having to take physical delivery of any currency. Furthermore, as we provide leveraged, margin trading accounts, clients are able to trade without depositing the full value of the transaction. GICM provides all clients free access to the popular desktop/mobile trading platform.

A foreign exchange rate may rise or fall depending on the strength or weakness of one currency versus another. Simply speaking, to make a profit the rate has to move in the direction that you think it will. If you think the price will rise, you will buy or go ‘long’. If you think the price will fall you will sell or go ‘short’. If the price goes in your favour, the amount of profit that you may make is determined by how many pips or points the price moves between the opening and closing price of your trade. Conversely, if the price goes against you the loss is calculated in the same way. GICM offers a number of tools and order types which allow our clients to minimise risk whilst never capping potential profits. Forex trading carries a high degree of risk and is not suitable for everyone, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

When looking to trade a particular Forex pair you will always see two prices; the price to buy (go long) and the price to sell (go short). The difference between the two prices is called the spread. For example, if we were quoting EUR/USD at 1.1300/1.1308, and you thought that the price was going to fall you would sell at 1.1300. If you thought that the price would rise, you would buy at 1.1308. In this example, the spread is 0.0008. We provide a comprehensive range of instruments with competitive spreads.

A rollover, or swap rate is a financing adjustment credited or debited, for holding a Forex position overnight. Each currency within a pair has an interest rate attached to it, and rollover rates are calculated by the interest rate differential between these two currencies. Depending on the interest rates in question and the direction of a trade, rollover adjustments may be positive or negative.

The minimum deposit to open a gicmarkets account is 10 USD

We provide a range of dealing platforms to make trading as convenient as possible for our clients. Our trading platform can be accessed via a computer, or our mobile platforms can be downloaded from most Android and Apple devices. See the Platforms section of our site for more information. We provide pure STP and ECN trading environment.

Of course! We provide free unlimited demo accounts which can be from client portal

Supporting Documents

1) A color copy of valid passport or other official identification document issued by authorities (e.g. driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and the client's signature.
2) A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address.

As a regulated company, we operate in accordance with a number of compliance-related issues and procedures imposed by our main regulatory authority, FSA. These procedures involve the collection of adequate documentation from our clients with regards to KYC (Know Your Client), including the collection of a valid ID card and a recent (within 6 months) utility bill or bank account statement that confirms the address the client has registered wit

Yes, you do. In order to start trading and to be able to make withdrawals from your account, your account has to be validated, therefore you must provide a recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection) or bank account statement not older than 6 months, and confirming your registered address.

Yes, you can. It is preferable, however, to use the same personal details as for your other trading account(s). You can register for an additional account in the Members Area with 1 click. Kindly note that the maximum number of accounts allowed per client is 8.

If you wish to update your email address, please send an email to [email protected] from your registered email address.

If you wish to update your residential address, please send an email to [email protected] from your registered email address, along with a recent Proof of Residence document (not older than 6 months).

Trading Accounts

It is simple and quick. Login into your your secure member area , Click Trading , then click open trading account. You can open upto 100 trading account from your client dashboard.

If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice from the client dashboard.

We offer the following four account types:
Cent 1 micro lot is 1,000 units of the base currency
Classic 1 standard lot is 100,000 units of the base currency
ECN 1 standard lot is 100,000 units of the base currency
Standard 1 standard lot is 100,000 units of the base currency

It is $5 for Cent and $20 for Classic accounts, 100$ Standard, while for ECN accounts it is $500. There is no limit in withdrawal

RISK WARNING : Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves substantial risk of loss. It is possible to lose more than the initial capital invested. Therefore, Forex and CFDs may not be suitable for all investors. Only invest with money you can afford to lose. So please ensure that you fully understand the risks involved. Seek independent advice if necessary. Full Disclosure

LEGAL : GICM is The Trading Name For GIC Markets, we are one of the rapidly growing Online Forex & CFD’s Brokerage Service with a management of Over 20 Years Experience in the Industry. GIC Markets is Registered in ST Vincent’s and Grenadines with The Number 22818 IBC .