About GT247.com
Company Overview
GT247.com is an international brokerage firm headquartered in South Africa, established on 19 April 2019. The broker operates under the full name GT247 (Pty) Ltd and is a juristic representative of Purple Group Limited, a company listed on the Johannesburg Stock Exchange. Its registered address is located at a co-working space in Rosebank, Gauteng.
The broker’s primary offering centres on leveraged trading products, including forex, commodities, and indices. It targets both South African and international clients by providing account options in ZAR and USD, alongside a dedicated demo account for practice.
Regulation and Licensing
GT247.com holds a Derivatives Trading License (EP) from the Financial Sector Conduct Authority (FSCA) of South Africa, categorising it as an over-the-counter derivatives provider (ODP). This licence requires the broker to comply with local financial regulations, including FICA identity verification and suitability assessments for clients.
However, aggregated industry data indicates that the FSCA’s regulatory status for this broker may have been exceeded or is ambiguous, raising questions about the current validity of its licence. Traders are advised to verify the broker’s standing directly with the regulator before engaging.
Trading Instruments and Platforms
The broker offers CFDs on forex, commodities, global indices, and South African equities. Its proprietary platforms—Future Trader and EQ Trader—support spread trading with risk levels starting from R1 per point, while MetaTrader 5 (MT5) is available for clients seeking a widely recognised third-party platform. All platforms provide account summary features such as net asset value, free cash, and margin level percentages.
GT247.com emphasises its in-house technology team for platform development, and its help centre features guides on placing trades, pending orders, and managing costs. The broker also supports netting and hedging modes, as well as stop-loss and take-profit inheritance rules.
Account Types and Funding
Clients can open a Demo, ZAR, or USD account. The ZAR account is particularly suited for South African residents who wish to trade in their local currency, while the USD account caters to international clients. Account activation is straightforward via the profile menu, and multiple accounts can be held simultaneously.
Funding methods include electronic funds transfer (EFT) and credit card deposits, as detailed on the broker’s support page. Deposits require correct reference numbers to ensure timely allocation. Withdrawal methods are not specified in available sources, but the broker’s FICA verification process suggests a standard financial compliance framework.
Target Audience
GT247.com is aimed at retail traders in South Africa and beyond who seek leveraged exposure to global financial markets. Its ZAR-denominated accounts and local regulatory presence make it a convenient option for South African residents, while the USD account broadens its appeal. The broker’s partnership with Purple Group Limited may also attract clients familiar with the JSE-listed group.
Traders who prefer a regulated environment with a local touch may find GT247.com suitable, though the unclear regulatory status warrants caution. The broker’s platforms are designed for both beginners and experienced traders, with demo accounts available for practice.
Overview compiled by FXCanary from regulatory records and public data. full GT247.com review