GannMarkets Forex Review

Read our full GannMarkets review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased GannMarkets opinion allows our readers to decide whether GannMarkets is a reliable broker.

GannMarkets Forex Broker History

GannMarkets is not young but not too old, as it was launched in 2018. The broker is fairly experienced in its sector as it offers a very well-ordered website and refined trading services with reduced amounts for minimum deposits on standard accounts. The broker is only regulated offshore, which is a positive sign, but still not enough for true safety. It offers diverse account types, access to advanced trading platforms, and competitive trading conditions with up to 1:400 leverage. As a result of regulations and efforts to offer competitive services, the broker is still active today and offers promotional events as well.

Overall, GannMarkets offers competitive trading conditions, but it can improve its services further.

GannMarkets broker safety

Safety is a critical part of online Forex trading. GannMarkets is based and regulated in MWALI by the Mwali International Services Authority (MISA). MISA is not very strict with brokers under its license, and traders can still experience some issues when dealing with this broker. For example, there are no segregated bank accounts and no negative balance protection policies. This is a serious drawback as segregated bank accounts ensure trader funds are untouched, and NBP policy prevents traders from losing more than their initial investment.

Overall, GannMarkets has at least 2 areas where it needs immediate improvements if it wants to be an attractive and competitive broker in the industry.

GannMarkets Broker Review of Accounts

Trading account types at GannMarkets are diverse and include standard, standard swap free, ECN, and ECN swap free options. The standard and ECN are main account types, and they also come in Islamic versions for Sharia law followers. This is competitive and enables Islamic traders to find their suitable account types, which is not what we often see in this sector. Let’s review each of these accounts briefly and compare their conditions for better analysis.

The GannMarkets Standard account has the following conditions:

• Minimum deposit – $0
• Maximum leverage – 400:1
• Spreads – From 1.3 pips
• Commissions – $0
• Minimum lot size – 0.01 lots
• Stop-out level – 20%
• Maximum lot size – 30 lots

The GannMarkets Standard Swap Free account trading conditions are as follows:

• Minimum deposit – $0
• Maximum leverage – 400:1
• Spreads – 1.3 pips
• Commissions – $0
• Swaps – $0
• Minimum lot size – 0.01 lots
• Stop-out level – 20%
• Maximum lot size – 30 lots

The GannMarkets ECN account’s full specs include both pros and cons:

• Minimum deposit – $500
• Maximum leverage – 1:200
• Spreads – From 0.0 pips
• Commissions – $7 per lot sound turn
• Minimum lot size – 0.01 lots
• Stop-out level – 20%
• Maximum lot size – 30 lots

The GannMarkets ECN Swap Free version enables Shariah-compliant followers to trade at low spreads:

• Minimum deposit – $500
• Maximum leverage – 200:1
• Spreads – 0.0 pips
• Commissions – $7 round trip
• Minimum lot size – 0.01 lots
• Swaps – $0
• Stop-out level – 20%
• Maximum lot size – 30 lots

As we can see, the broker is most competitive on standard and standard swap-free accounts because of a low minimum deposit and generous leverage. However, spreads are slightly expensive. ECN accounts have competitive conditions but require 500 USD, which is high.

GannMarkets instruments

GannMarkets enables access to a diverse set of instruments like Forex pairs, commodities, indices, stocks, and digital currencies. The availability of both stocks and cryptos is very crucial for multi-asset trading opportunities. The leverage is plenty, and spreads and commissions are also satisfactory. The minimum deposit requirements are competitive on standard accounts and enable neighbors to start small, while ECN accounts are not suited to beginners.

GannMarkets Reviews of Trading Platforms

GannMarkets offers the two most popular and widely adopted trading platforms, MetaTrader 4 and MetaTrader 5. Both these platforms offer support for custom indicators and Expert Advisors, together with plenty of tools and market analysis features. The broker allows traders to use the full capabilities of their platforms, which is competitive. Mobile trading is available via MT4 and 5 mobile apps, accessible on both Android and iOS devices, including tablets.

GannMarkets Forex Review of Extra Features

Extra features are additional services and tools that improve the trader experience, and GannMarkets lacks these services, which is a downside of this broker. There are no copy trading or VPS services available, and the broker does not provide any tools or indicators either. There are no promotional events provided as well apart from a deposit bonus. There is a 40 euro deposit bonus, and the broker does not provide any percentage bonuses, which is a downside for sure. As for the learning materials, there is a dedicated section where traders can access a glossary, video content, and E-books.

Overall, the broker falls short of sufficient extra features to make it competitive for traders.

GannMarkets Reviews of Customer Support

Customer support is one of the most important aspects of trading, and GannMarkets offers phone support, email, and Telegram support channels. While the Telegram channel support acts like a live chat alternative, it is still slower and less convenient than a live chat plugin. This makes it a slightly worse experience when compared to the competition. The website and support methods are only available in the English language, which is also a downside.

GannMarkets Deposit and Withdrawal

Payment methods allowed are plenty at GannMarkets as traders can use bank cards, wire transfers, and other popular methods like FasaPay, PayPal, Adv-Cash, Union Pay, Perfect Money, WebMoney, and many more. Deposits are mostly instant and fee-free, but the broker is not specific about withdrawals. There are no details specifically emphasized for profit withdrawals, which is a red flag.

GannMarkets Review Conclusion – Is GannMarkets Legit and Safe?

GannMarkets is a moderately competitive offshore CFD broker offering MT4 and MT5 platforms, flexible payment options, and multiple trading accounts, including Islamic options. While spreads and platforms are satisfactory, weak regulation and limited extra features lower their overall reliability and attractiveness.

FAQs on GannMarkets

Is GannMarkets a scam?

The GannMarkets scam is not confirmed as the broker holds a MWALI license. However, there are some minor red flags regarding withdrawal procedures.

What is the GannMarkets minimum deposit?

$0 for standard accounts and $500 for ECN accounts.

Is GannMarkets a cheap broker?

Only standard and standard swap-free accounts are cost-effective. ECN trading accounts require a higher deposit and charge commissions as well.