Comparing spreads, commissions, trading platforms, rules and reading dozens of user reviews about all the popular FX and CFD brokers eats up a lot of every trader’s time. That’s why we’ve done all the hard work for you, so you can simply start trading with a company that has a fast, modern trading platform, a variety of assets and fast customer service. Based on our analysis, Gulf Brokers meets all these criteria.
Gulf Brokers Ltd. Review – Table of Content
- Licensing
- Trading instruments on Gulf Brokers
- Website Interface Design
- Gulf Brokers MT5 trading platform
- Gulf Brokers Education section
- Types of trading accounts at Gulf Brokers
- Registration
- Bonuses and promotions of Gulf Brokers
- Deposit methods and charges
- Withdrawal Options and Associated Fees
- Gulf brokers Helpline
- Summary
- Our rating of Gulf Brokers
Licensing
Gulf Brokers operates under the regulation of the Seychelles Financial Services Authority (FSA), holding license number SD013. The company’s parent entity is registered as a securities dealer in the Seychelles under company number 8417634-1.
To safeguard against potential domestic issues or cyber-attacks, Gulf Brokers has secured professional liability insurance. This measure ensures that client funds are protected in the event of broker misconduct or insolvency, allowing for possible compensation in such scenarios.
Gulf Brokers’ services are not available to residents of certain countries, including Afghanistan, Cuba, Israel, North Korea, and several others.
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Trading instruments on Gulf Brokers
Gulf Brokers provides approximately 700 trading instruments on its platform. These include 61 currency pairs, 14 indices and 7 commodities. In addition, there are 610 stocks on the platform, which consists of 105 German, 16 Dutch, 35 Spanish, 20 Swiss and 435 U.S. stocks.
Traders get up to 500:1 in leverage, which applies to all currency pairs. Major and exotic currencies all have the same, industry-standard 1 lot size of 100,000 in the base currency. The smallest permissible trade size is 0.01 lots.
In contrast, the spreads are very big. Actually, most brokers have spreads of no more than 3 pips, especially when it comes to major currencies. The lowest spread at Gulf Brokers, on the other hand, is 3 pips. On some major currency pairs, it is as high as 20 pips.
Website Interface Design
Gulf brokers boasts a sleek and professional website design. The clean interface, featuring a predominantly white background with accents of yellow and dark blue, makes navigation effortless. Transparency is a core value reflected in the clear and concise presentation of information. The top panel conveniently lists all essential subpages, ensuring easy access to the content you need.
A notable advantage of Gulf Brokers is the strategic placement of their contact information at the top of the page, right next to the login and join buttons. This makes it easy for potential clients to get in touch quickly.
The Research section on Gulf Brokers’ website is particularly impressive. It offers a comprehensive suite of market research tools, including:
Economic Calendar
Keep track of important global events and economic data releases.Generally, the quality of the research is comprehensive, enlightening and regularly updated. It is also appropriate for both novice and experienced traders.
Market News
Stay informed about the latest global market developments and their potential impact.
Daily Summary
Get a concise overview of the stock, currency, and commodities markets, along with economic and technical forecasts.
Blog
Access insightful analysis and commentary from Gulf Brokers’ leading analysts on a variety of market topics.
Gulf Brokers MT5 trading platform
MetaTrader 5 (MT5) is a unique trading platform provided to Gulf Brokers clientele. Designed by MetaQuotes Software Corporation, this popular platform has a simple interface that is quite simple for beginners, but has advanced trading tools and market analysis features that make it suitable for professional traders. MT5 appears in three main options:
MT5 Desktop Terminal
Features of the MT5 are completely adjustable in terms of layouts and windows. Charts can be viewed on the MT5 platform at 21 timeframes. Several order types are also available on the platform, including 6 pending orders. This allows you to activate one-click trading for faster execution of orders. In addition, the platform allows you to install plug-ins that extend the platform’s capabilities by adding new tools or new features. There is also support for strategy automation using EAs, which are written in the MQL5 programming language.
MT5 Mobile Trading App
Mobile trading offers traders unparalleled freedom. In the past, trading required constant presence in front of a computer. Now, with smartphones and tablets, trading can be done from anywhere in the world.
Many investors find mobile apps offer several advantages over desktop platforms:
- Simplicity – Mobile trading apps are designed to be user-friendly, tailored to the smaller screens and functionalities of smartphones, making them easier to navigate than desktop versions.
- Design – These apps emphasize a clean, minimal design that fosters a comfortable and efficient trading environment.
- Convenience – The ease of use is a key benefit, allowing traders to execute trades, view charts, and manage positions with just a few taps.
Gulf Brokers also offers a mobile version of its platform, accessible via iOS and Android devices. The app can be downloaded from both the Apple App Store and Google Play Store, ensuring a seamless experience for users on the go.
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Gulf Brokers Education section
Gulf Brokers offers a good set of training materials, and provides three informative trading videos, top trading tips and a glossary.
The trading tips section contains six articles designed to help users understand how risky instruments work, as well as a small glossary covering important trading and financial market terminology.
Let’s take a closer look at what the Online Trading Academy is all about. By the word Academy we should literally mean a training process. This feature has been specially made for beginner traders and is their video guide to the world of online trading. All the videos are recorded in Arabic, but with English subtitles.
A feature that has garnered positive feedback from many new traders is the comprehensive glossary. This valuable resource is essential for understanding and remembering the often complex terminology used in trading.
Even experienced traders can benefit from the glossary as a quick reference or a printable resource for those times when a term slips their mind. It’s important to note that the glossary is not arranged alphabetically for ease of use.
Types of trading accounts at Gulf Brokers
Gulf Brokers offers a range of trading accounts tailored to meet diverse needs, from experienced traders to beginners. Each account type is designed with specific features to enhance trading flexibility and compliance. Here’s a detailed look at the various accounts available:
Forex and CFD Account
The Forex and CFD account at Gulf Brokers provides access to a broad range of financial instruments. To open this account, a minimum deposit of $500 is required. Traders can start with a minimum trading lot of 0.01, with no maximum lot limit imposed. The account offers leverage up to 1:500. Spreads on major currency pairs typically range from 3-4 pips. While there are no commissions for trading forex, indices, and commodities, a 0.5% commission applies to stock trades.
Islamic Account
Designed specifically for Muslim clients, the Islamic account mirrors the conditions of the Forex and CFD account but adheres to Islamic Sharia law. This means there are no charges for overnight positions, avoiding interest payments. Transactions must be executed promptly, with currency transfers and transaction costs handled simultaneously to comply with Islamic financial principles.
Gulf Brokers Demo account
For those new to trading, Gulf Brokers offers a user-friendly demo account. The demo account is prominently featured on the broker’s website, allowing beginners to develop trading skills without financial risk. Registration is straightforward—simply provide basic information and confirm the activation link to get started.
Demo accounts offer a valuable, risk-free way for traders to explore the markets, refine their techniques, and experiment with various strategies using virtual money. This hands-on experience prepares them to handle real funds more effectively in live trading scenarios. For seasoned traders transitioning to the MT5 platform, a demo account provides an excellent opportunity to get accustomed to the platform’s tools and features before trading with actual capital.
Gulf Brokers Trading Costs
When engaging in trading with Gulf Brokers, it’s important to be aware of the various costs associated with your trades. One of the primary expenses you will encounter is the daily swap fee. This fee is applied when you hold positions open overnight, meaning that if you decide to keep your trades active beyond the end of the trading day, you will incur a swap fee. This fee is essentially the cost of borrowing or lending money to maintain your position.
For traders who follow Islamic finance principles, Gulf Brokers offers Islamic accounts designed to comply with Sharia law, which prohibits interest. As a result, these accounts do not incur swap fees. However, it is important to understand that while Islamic accounts avoid interest-based fees, some brokers impose a fixed, non-interest-related fee on overnight trades for these accounts. This fixed fee is meant to cover the costs of maintaining positions without violating Islamic financial principles.
Registration
Even though Gulf Brokers has a long history in the industry, its registration process is refreshingly straightforward. You can easily access the registration page by clicking on the appropriate link on their website. This streamlined approach ensures that setting up your account is quick and hassle-free.
Fill in your first and last name, e-mail, phone number, agree with Legal Documents and click “Join”.
Shortly after, you will receive an email requesting confirmation of your registration. Once you complete this step, you’ll be all set and officially registered as a new trader with Gulf Brokers.
Bonuses and promotions of Gulf Brokers
Gulf Brokers stands out with attractive bonuses and promotional programs. For deposits starting from $1,000, they provide a matching amount in trading capital. For instance, a $5,000 deposit will be matched with an additional $5,000 for trading. The maximum bonus allowed per trader is an impressive $100,000, making this offer one of the most generous in the industry. This bonus structure provides traders with a significant boost to their available capital, ideal for those looking to maximize their investment potential.
Deposit methods and charges
Gulf Brokers allows deposits through bank transfers, debit, and credit cards. In cases where a transfer fails, such as due to insufficient funds or an inactive card, a $200 refund fee may be charged. There are no additional transaction fees mentioned for deposits, but users should be aware that their own banks might apply charges. Withdrawals are processed within 24 hours and must be made using the same method as the deposit, whether it’s a bank transfer or card. This ensures seamless transactions, but external bank fees could still apply.
Withdrawal Options and Associated Fees
To withdraw funds from Gulf Brokers, traders can either use the account portal or send an email to customer service. However, it’s important to note that withdrawals must be made using the same method as the original deposit. For example, if you deposited funds using a Visa or MasterCard, your withdrawal will also be processed to that same card. Profits, on the other hand, can be transferred from your Gulf Brokers account directly to your bank account.
Withdrawals are typically processed within 24 hours. However, in certain cases, such as when incorrect information is provided or required documents are missing, the process may take longer
Gulf brokers Helpline
Customers can obtain responses to their questions, comments and comments regarding Gulf Brokers services in the support service 24 hours a day on weekdays. They can be contacted by phone, e-mail or through the “contact us” form on the broker’s website. Unfortunately, live chat option is not available on the broker’s website.
The customer support service is multilingual.
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Summary
Gulf Brokers offers one of the most attractive bonus programs in the industry, with traders eligible to receive up to $100,000 in trading capital. This substantial bonus is complemented by a referral commission program, adding further value for account holders.
The broker also boasts a broad selection of 60 currency pairs, which only a few competitors can match. While Gulf Brokers provides a standard account type, traders have the option to open an Islamic account that adheres to Sharia law by eliminating swap fees. Additionally, their educational resources, particularly suited for beginners, and the MyGulfBrokers online platform make managing portfolios convenient and accessible.
At the end of our objective review, we share with you valuable information on how to choose a reliable broker.
When choosing a broker, it’s important to consider a few key factors:
✅ Reliability – Ensure the broker has a valid license, a solid track record, and positive feedback from clients. Look into any history of financial issues or legal disputes.
✅ Market Specialization – Choose a broker that excels in the specific instruments or markets you’re interested in, reducing potential risks.
✅ Financial Fit – Start with a small deposit to minimize risk, especially for beginners.
✅ Customer Support – Assess the quality of the broker’s information resources and support, including live communication and trading assistance.
✅ Commission Fees – Brokers may charge either fixed fees or a percentage of each transaction, typically ranging from 0.01% to 0.3%.
We hope that in our review we have described all the functions and features of Gulfbrokers. Even if you are new to the world of trading, this review will help you make the right choice.