GTMMarket is the brand name of Global Transaction Market LLC. The company is licensed by the Saint Vincent and the Grenadines Financial Services Authority (FSA) under license number 162LLC2019. Despite its offshore license, the company claims it holds client’s funds completely segregated in world top commercial banks.
Clients have access to over 50 currency pairs, metals, oil, and over 10 of global indices. The company is not regulated by a European financial authority and is not required to comply with ESMA requirements. Therefore, it can offer a leverage of up to 1: 400. Note that the greater the leverage, the greater the risk of major losses.
There are two types of accounts – Standard and ECN. They differ in minimum deposit, maximum leverage allowed and instrument spreads. In general, there is no commission in the Standard account, but instruments have spread, and the minimum deposit is USD100. There is a USD6/lot commission in the ECN account, and you must invest at least USD2,000. You can deposit by bank transfer, credit card or UnionPay.
Customers can trade through the MetaTrader 4 (MT4) platform. It is one of the most used terminals over the world, which analyzes financial markets and allows the use of expert advisors. There are 30 technical indicators in the GTMMarket MT4 terminal. The platform is available for PC, Mac, and mobile devices.
The Partnership section of the website describes the ways you can become an Introducing broker or a White label to GTMMarket.
GTMMarket claims it executes orders through the Straight Through Processing (STP) model, but the legal documents show the opposite. The General Terms document shows that the company deals as principal and not as an agent and it is the counterparty to all client deals. That means GTMMarket acts as a market maker and does not transmit each client’s deal to its liquidity providers. It will benefit when clients lose, which leads to a conflict of interest. The same document reveals that there is no negative balance protection. The company does not guarantee that your Open Positions will be closed when the Margin Level for your Account reaches the Margin Close Out Level or that your Losses will be limited to the amount of funds you have deposited in your Account. In other words, you may lose more than your initial deposit. In addition, all orders are subject to slippage and can be filled at a different price. The document shows that the company offers guaranteed stop loss orders for a limited range of markets at the expense of a premium payment.
Overall, this is an offshore-regulated company that offers the MT4 platform for online trading, but you cannot trade shares here. GTMMarket offers guaranteed stop loss orders (they are not free) nut it does not provide negative balance protection and you can eventually owe it money. In addition, the documents show it acts as a market maker and not as an STP broker.