Unregulated providers do not provide the same degree of security as fully licensed brokers. Customer reviews don’t suggest that is the case, but readers should be wary given the group’s lack of legitimate regulatory oversight. The apps are compatible with both iOS and Android devices and can be downloaded gci broker for free from the Apple App Store or the Google Play Store. There is also a mobile website for ActTrader users, meaning clients can carry out trades from a mobile browser without having to download additional software. Accounts are commission-free, so it’s just the spread to take into account.

The Rural Health Care Program provides close to $600 million annually to help rural health care providers with telecommunications needs. The subsidy helps reduce rural telecommunications costs that are more expensive than in urban areas. Contracts for the service are awarded through a competitive bidding process. The data contained in this website may not be real-time and accurate.

What is the minimum deposit required to open an account at GCI?

The allegations arose in a 2019 complaint brought under the False Claims Act by a whistleblower, Robert Taylor, GCI’s former director of business administration. According to the agreement, Taylor will receive $6.4 million of the GCI settlement payment — his share of the recovery under the act’s whistleblower provisions. The MetaTrader4 platform is accessible from PC, iPhone, iPad, Android, or other mobile devices and there are free demo videos available that explain the download process for these as well as for PC’s and Mac’s.

• 1st Floor, The Sotheby Building, Rodney Village, Rodney Bay, P.0. Box 838, Castries, St. Lucia.
• The only problem is that much of the educational content and trading signals haven’t been updated in years.
• The gross commission income for each agent is now calculated by dividing the original 6% in half (assuming the listing agreement spells out an equitable split between both sides).
• The MetaTrader account also gives you a choice of ECN or traditional execution, no requotes or delays, and NDD instant execution in major currencies.
• The civil settlement includes the resolution of claims brought under the qui tam or whistleblower provisions of the False Claims Act by Robert Taylor, GCI’s former Director of Business Administration.
• In most brokerages, once you “hit cap,” you no longer have to split your commission with your broker, putting significantly more money in your pocket at the successful close of each transaction.

GCI offers both the ActTrader and MetaTrader 4 platforms in mobile app versions, allowing traders to access the markets and manage their accounts from portable devices. Users have access to many of the same features as the desktop platforms. The federal government asserted that GCI did not comply with FCC regulations governing how telecommunications companies must calculate their prices to receive the subsidy payments, the Justice Department said. Yes, GCI offers a demo account with both the MetaTrader 4 and ActTrader platforms. Users have access to $50,000 in virtual funds to practice trading. The Universal Service Fund supports affordable telecommunications for rural health care providers and eligible schools and libraries, among other services.

ActTrader

In addition to the video tutorials and a free trading demonstration, the broker offers lengthy textual lessons on a host of subjects such as Forex Markets, Risk Management and others. Their cap is the total amount of money an agent will pay via commission to their brokerage in a given year. A typical cap for a mid-sized, non-metro brokerage is between $20,000 and $30,000.

We do not accept money, services, or products in exchange for positive reviews or product placement. If you read about a product or service on this website, it’s because we genuinely think it’s great. First, you should evaluate your business plan to make sure you’re taking advantage of your expected cap date. You can use this information to better craft your real estate business plan, set up better spending strategies for lead gen companies like Zillow Premier Agent and BoldLeads.

While default lot sizes are 100,000 currency units, traders can select as little as 0.10 lots to transact. Unlimited charting and programmable trading signals are among the features offered in GCI’s MetaTrader account. GCI offers a decent breadth of tradeable financial assets on the MetaTrader 4 and ActTrader platforms. The broker also offers commission-free accounts as well as a fully-featured demo account.

But there’s so much more to understanding this key calculation and why it matters to every real estate agent. We’ll explain the difference between GCI and the more complicated NCI (net commission income). We’ll also give you a handy calculator and a formula to help you calculate the GCI and NCI on your next property sale. GCI offers an education and resources centre, containing various trading tools to assist both beginner and expert traders. This includes daily news, e-learning resources, a currency calculator, forex charts, trading signals, and an economic calendar. The only problem is that much of the educational content and trading signals haven’t been updated in years.

It stands for gross commission income and it’s the amount of money a real estate agent receives in exchange for their services in a real estate transaction as a representative of a buyer, seller, or both. Most often, the GCI for a property sale is calculated by multiplying the commission rate by the final sale price. The GCI trading software provides real-time prices in all major currencies, market indices, shares, and commodities.

Is GCI Financial a scam?

We are here to take charge of all transport logistics and ensure that your goods arrive at the right destination, at the right price and at the right time. There is another contest offered on their Facebook page where the most accurate forecaster wins $1000 in cash and the next four most accurate forecasters win up to $800 Bonus Margin. There is no dealing desk execution, no re-quotes and scalpers and scalping EAs are welcome. Only $500 is needed to start and there is a bonus of 30% on first deposits. Traders with this account also receive 4% on their account balance.

Finally, you can use this information to negotiate a better cap / split deal with your brokerage, or even consider whether a low-cost virtual brokerage like eXp or REAL are appropriate options for you. If you have questions about choosing a brokerage, make sure to check out our Best Real Estate Companies to Work for in 2022 article. Finally, you’ll need to reach a specific volume of transactions and GCI to qualify for certain real estate designations, like the CCIM designation.

The United States further alleged that GCI caused Eastern Aleutian Tribes Inc., a rural health care provider in Alaska, to agree to inflated prices after the relevant contract was competitively bid. As a result, GCI knowingly received higher payments under the program, from 2015 through 2018, in connection with its contract with Eastern Aleutian Tribes, Inc. We’ve given you the basic definition of gross commission income. Now, let’s dive a little deeper to understand what’s so important about this key measure for real estate agents.

Whether you trade CFDs, Indices, Forex or one of our other asset classes, you are well catered for by our industry-leading platforms. Contemporaneous with the civil settlement, GCI has agreed to enter into a corporate compliance agreement with the FCC. GCI will also resolve an FCC administrative investigation and an FCC proceeding arising from GCI’s participation in the Rural https://traderoom.info/ Health Care Program. He said that telecommunications services are critically important in rural areas of Alaska such as the eastern Aleutian Islands, for services such as telehealth or communicating records. The settlement does not further address the allegation involving the Schools and Libraries program, which helps schools and libraries receive affordable broadband.

Knowing the relationship between your net commission income and your gross commission income will help you understand what’s required to reach your personal and professional goals. In the example above, we used a typical home sale price of $300,000 and a typical commission rate of 3%. Assuming there’s no referral fee to be paid, a gross commission ($9,000) would be split between the broker (40% – $3,600) and the agent (60% – $5,400). When most real estate agents sign on with a brokerage, they negotiate both their cap and their split with their broker. I was pleased to see when doing this review that a demo account can be set up with either of the two accounts.

GCI Trading, established in 2002, (formerly GCI Financial), is a Forex and CFD broker headquartered in Anguilla, British West Indies. In addition to Forex, GCI offers trading in indices, shares, and commodity CFDs, as well as options on most products. It is the recipient of multiple industry awards over 13 years, including the Best Forex Broker Europe 2014. GCI is essential to individual agents, teams, and brokerages trying to grow their business.

Daily trading signals are posted online as well as real-time Forex price quotes and there is a full economic calendar with up-to-date events scheduled to take place throughout the world. At the time of this review the only other bonus was a 30% welcome bonus on ECN accounts. GCI Trading is one of the few brokers that offer interest on deposits and monies in the ActTrader account receive 4% interest paid on their account balance. However, we do work with a select group of software companies and service providers that we feel provide real value for our readers. We have affiliate partnerships with these companies and make money when we feature their products on the site.

The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. GCI offers Forex and CFD trading on the popular MetaTrader 4 trading platform where they can trade directly from charts. Among the benefits of this platform are fractional lot capabilities, the ability to program trading signals, and unlimited charts and technical indicators.

• At the time of this review the only other bonus was a 30% welcome bonus on ECN accounts.
• In this situation, that 6% commission is divided between two parties.
• Unregulated providers do not provide the same degree of security as fully licensed brokers.
• Their fees are built into the spread so no commissions are added.
• Founded in 2002, GCI Financial Ltd offers over 300 tradable financial assets and educational tools for both beginners and experienced traders.
• Becoming a GCI client means dealing with one of the most established and well-recognized firms in the industry.

With that said, online customer reviews don’t suggest that the broker is a scam. Still, we always recommend opening an account with a licensed provider first. GCI offers an exclusive promotion of 50% bonus margin on deposits over 10,000 USD or EUR. Deposits less than this will be subject to the regular 25% bonus margin. The civil settlement includes the resolution of claims brought under the qui tam or whistleblower provisions of the False Claims Act by Robert Taylor, GCI’s former Director of Business Administration. Under those provisions, a private party can file an action on behalf of the United States and receive a portion of any recovery.

Even better, you can adjust your real estate farming strategy based on how much additional revenue you’ll have available. Keeping track of your gross commission income or GCI throughout the year allows you to understand how close you are to meeting your cap requirements. The ActTrader account requires 10,000 currency units per lot, whilst the MetaTrader account requires 100,000 currency units per lot. The MetaTrader account also gives you a choice of ECN or traditional execution, no requotes or delays, and NDD instant execution in major currencies.