Here we will review the service of GBE brokers.
Please note that GBE brokers is still a relatively new broker and we will update this review if necessary in the future.
Who is GBE brokers?
GBE brokers is an online Forex & CFD broker based in Cyprus.
The broker has renamed its brand and also switched the regulation from MFSC(Malta) to CySEC(Cyprus).
The main reason of renaming is because the previous corporate was related too much to its German mother-company which is a German asset management company.
Also MFSA in Malta was too strict in terms of KYC procedures as the regulation requires traders to send all original proof of address documents by post directly. On the other hand, CySEC is more client and broker friendly regulation.
Please note that GBE brokers or the previous brand name were never charged penalties or involved in any disciplinary actions by its regulatory authorities.
The broker is relatively a new one as it has started its service from 2015.
GBE brokers is especially focused on its execution quality.
The broker has set up the server in Equinix LD4 Data center and they allow positive slippage. (Positive slippage is often limited by many brokers and they allow only negative slippage.)
Other than that, the basic conditions are also simply good.
GBE brokers offer larger number of trading instruments than average brokers which number is 145 symbols(125 Forex pairs and 20 CFDs).
The maximum leverage is 1:500 which is about average. The spread is variable and from 0.9 pips(including extra commissions).
There is no trading restrictions so there shouldn’t be any profit cancellation either. But arbitrage trading is prohibited of course.
The trading platform is MT4 and can be connected to MyFXBook for Automated Trading.
The required minimum deposit amount is $1000 which is a bit high standard, but the trading environment is especially designed for traders with medium funds available who can understand the importance of the fast execution with positive slippage.
Bonus & Promotions?
No bonus promotions are offered directly by GBE brokers.
Currently, GBE brokers is looking to acquire traders with better quality who are not aiming to earn solely bonuses, but traders who are desiring for high quality execution environment.
Well, execution quality is one most important thing which is directly related to the investment profit, but not bonuses at the end.
We, Hercules are planning to introduce Cash Back Program soon.(coming soon)
The customer service itself is sophisticated by experience.
You will get the right answer immediately, but won’t be procrastinated and wait for an answer for days.
As GBE broker is still in the process of gaining traders’ attention now, it is hard to determine the quality of the service at the moment though, we believe that the customer service is better than other many brokers.
Complains from traders?
GBE brokers is still a new broker, so not so many reviews are available from the traders.
We will update this section as soon as we get some.
Anything to be careful?
Other than the arbitrage trading is prohibited, there is nothing much to be careful of while trading with this broker.
GBE brokers has specified everything you may need to know in its terms and conditions(legal documents) and you are recommended to go through them all.(these legal documents are also made client friendly and even easy to understand)
The live chat service is available 24 hours so if you have any questions, go on a chat with one of the representatives and see how their support quality is great.