GTLot Review – Can this Broker be a Good Fit for You?
Are you thinking of launching your career in online trading? The lure of high profits has attracted millions of people to the trading space from all over the world. In addition, trading has become a lot easier and more feasible with technological advancement. People no longer need to leave their homes to trade in the financial markets and they can even do it part-time for supplementing their income. When you can generate a substantial sum of money even with a small investment, wouldn’t you want to do it? It sounds irresistible, but you should understand that profits cannot be made without putting in some effort.
If it was so easy, every single trader would have made millions from the market by now. However, only a handful of traders are able to succeed in the long term because they are willing to put in the time and effort needed to achieve this goal. The first step that you have to take is to find a broker because they are your key to the magical world of online trading. Brokers provide traders with all the resources and tools they need to start trading and their numbers have increased in the last few years to accommodate the growing demand.
The problem is that the higher number of options can make it a big challenge to choose one broker. Some people prefer to sign up with the first broker they find, but there is no guarantee that they will be able to fulfill your needs. Before selecting a broker, you have to consider your own requirements and then make your decision. For instance, some traders want to have a variety of assets to trade while others are willing to accept limited options, as long as they have a secure trading environment.
When you know what you want, it becomes easier to find a broker that is a good fit for you. GTLot is one of the online brokers that you will come across, offering more than 300 financial instruments for trading. They have developed their own proprietary trading platform that you can check and have also added a range of trading tools to the mix. You can check their services and features before making your final decision. If you do decide to go with this broker, you will have to follow the typical route i.e. register with them by sharing some essential details and then funding your account to get started.
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What I liked about this broker is that they haven’t restricted their services to a particular category of traders. Their features and services can facilitate traders of all levels; whether you are new to the trading space or are a seasoned trader, GTLot’s trading services can accommodate all. However, you do need to consider its different aspects to determine if it would work out for you or not. What are these aspects? Let’s take a look:
- Is it legitimate?
The first thing you should know about any trading broker is whether they are properly registered or licensed. The financial market has its share of regulated and unregulated brokers and the former tend to be more security-centric. Hence, those who are concerned about their security would prefer to sign up with an authentic broker.
GTLot falls into this category as the broker is registered in Amsterdam, Netherlands. If you visit their website, you can easily find their office address, which is a real location. Moreover, their Terms and Conditions and other policies indicate that the broker takes responsibility for its actions, which is undoubtedly reassuring.
- Can you diversify your portfolio?
If you want to diversify your trading portfolio and don’t want to trade just one financial instrument, then you can open an account with GTLot. As mentioned above, this broker has added more than 300 instruments to their asset index and they are spread out in different categories. Hence, there is a good chance that you will be able to find the ones you wish to trade. This diversification can work in your favor because it helps you in earning higher profits while keeping losses low.
First and foremost, the asset offerings at GTLot begin with the forex exchange market, one of the biggest financial markets in the world. The broker has added major and minor currency pairs, along with some exotic options for traders who enjoy taking risks. USD/CAD, EUR/GBP, USD/CHF and EUR/JPY are just some of the pairs you can trade here. Next up, you will come across indices like S&P 500 and Dow Jones, which are a bit risky, but capable of giving returns.
GTLot has also added commodities to their asset offerings because the broker is aware that not every trader is comfortable in taking risks. The commodities that can be traded via the broker include energies like oil and gas, agricultural products like wheat, coffee and corn and precious metals including gold and silver. Lastly, the broker has also added stocks of some important companies like Google, Amazon, Apple and Microsoft. You can choose whatever combination of assets you want to trade in order to make your profits.
- What kind of trading platform can be used?
One of the most prominent features of a broker that make them vital for online traders is the trading platform they provide. To put it simply, this is the software that traders use for executing their trades and it is necessary to check it out before you choose a broker. A platform that’s difficult to use can have a negative impact on your overall experience. GTLot has developed their own trading platform and I liked the fact that they have put in some effort to keep it as simple as possible. The most notable benefit of their trading platform is that it is web-based, which meant that I didn’t have to download or install it.
Web-based platforms are common and they are popular amongst traders who enjoy flexibility, as these platforms are accessible via websites. Hence, they can be used on any device supporting a web browser, be it laptop, tablet, PC or even smartphone. GTLot has attempted to keep their platform as simplistic as possible, but it is powered by cutting-edge technology, which was obvious from its execution speed. One-click trading wouldn’t be possible if the platform wasn’t backed by powerful technology. It provides access to market news to assist in decision making and advanced charting tools are also available for tracking trends and patterns.
Even though the platform does have cross-device functionality because it is web-based, GTLot has also given mobile apps for Android and iOS devices. Using the web-based platform on smartphones can be a bit of a hassle so I did appreciate the addition of these apps. They came with almost the same tools and functionalities and worked quite smoothly, so I was able to monitor my account round the clock.
- What is the registration process?
You cannot start using a broker’s services without registering with them; this is the norm. Typically, registration of any kind involves filling out forms and providing documents. This can be a daunting process because sharing your personal information with a third party is never easy. As stated earlier, you have to provide GTLot with some essential information in order to register with them. They have kept it simple and straightforward, without too may complexities. There is no requirement for providing extensive details either, which is a good thing.
To register with GTLot, you have to fill out the form they have added to their website. This didn’t take me more than a few minutes because the information that has to be shared is very basic. It asks for your full name, phone number, email address and password and your location. You can choose your account currency, which is either BTC or USDT. It is also necessary to accept their terms and conditions before you submit your application. As long as you are 18 or above, you will be registered right away.
- Is the broker secure?
Since you are sharing personal information with the broker, it is a good idea to take a look at their security policies. Cybercriminals are lurking online and you don’t want your information to be misused or stolen. Likewise, you also want to protect your funds as much as possible. The only way to do so is to select a broker that takes security just as seriously. How does GTLot fare in this regard? First, the broker has complied with the Know Your Customer (KYC) and Anti-Money Laundering (AML) security measures.
These are some of the renowned security policies and can be helpful in keeping trading transparent and fair. Complying with these policies is a must for anyone signing up with GTLot and to do this, you have to provide some important documents. You have to submit your passport, national ID card or your driver’s license to give proof of identity. A utility bill like water, electricity or gas, a credit card bill or bank statement has to be provided for proof of address. You should also register funding methods in your own name and you cannot use third-party accounts for making deposits or withdrawals.
- Do they offer any resources?
The key to succeeding in the trading market is to know how it works and come up with profitable trading strategies. There is no doubt that experience can play an important role in your successful journey, but education is just as important. You need to learn the ins and outs of trading and work on developing your own strategy with the help of the knowledge you gain. In order to do so, you have to find extensive and accurate resources and this can take up a lot of your time.
Therefore, I was definitely pleased to see that GTLot had added some educational resources to their offerings because it saved my time and gave me access to the information I needed. The educational resources are in-depth and cover a wide array of topics related to trading. I was able to get most of the basic knowledge I needed for stepping into the market and making smart decisions. It was available in the form of videos, e-books and tutorials, which gave me the flexibility to choose how I wanted to learn.
Once I had mastered the basics, I moved onto the advanced educational materials that enabled me to develop my own strategies. Along with these resources, the tools offered by GTLot also came in handy. Charting tools, technical analysis tools and risk management tools were the best offerings I could find. I also attended the webinars conducted by professional traders for getting further guidance about how to navigate the trading market.
- Is the broker responsive?
Customer support can make or break any business; this is the golden rule and it also applies to brokers. GTLot has provided 24/7 customer support options on its website and they can be accessed via different channels. They have an email address that can be used for sending it queries and a phone number aimed at handling urgent problems. There was also a Contact Us form that could be used for scheduling a callback. The option of live chat is missing and this could be an inconvenience when you need help right away. But, the agents were responsive and friendly and this partly made up for the lack of live chat.
It can be ascertained that GTLot is an authentic broker that is capable of providing optimal trading services. It can be a good fit for any trader who is looking for a broker that prioritizes security, offers an easy-to-use trading platform, lots of assets, and a safe trading environment.