FXGM Review among numerous others will help you to understand brokers’ offering more clear, as well as verify a license or legal information. Always make sure to check all trading information before you sign for trading.
What is FXGM?
FXGM is an online trading brokerage firm that serves multiple entities while headquarter based in Cyprus. This means that FXGM is a European broker that is of course regulated and overseen by the necessary authority CySEC in reverse providing its clients with integrated trading conditions and guaranteed transparency.
FXGM operates since 2011 while along the time shows its reliability and was quite regarded by the international traders and industry communities. Moreover, FXGM always strives to improve its trading technology and offering, therefore went beyond by establishment of the branch in South Africa.
In its offering, you will find a wide variety of trading tools and services, with a great array of services suitable either for beginning investors or professionals. The instrument range includes most popular Forex and CFD products on shares, commodities and indices. Besides, FXGM developed customer service at a high level, so you may always count for its support.
Nevertheless, to understand offering in a detail you should always check the most important information of the broker’s proposal. In this purpose this review covers the following highlights:
- Is FXGM safe or a scam?
- Trading Platform
- Trading Fees with conditions that consist of spread and overnight fee
- Leverage and its maximum levels
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
- Conclusion on FXGM
Is FXGM safe or a scam?
FXGM is a tradename used by a company Depaho Ltd registered in Cyprus and regulated by the local CySEC. Cyprus being a part of the EU therefore complies its regulation with European MiFID that establishes harmonized financial investment services to the public. Also, FXGM serves branch in Spain which is also registered with a local CNMV so the trading and brokerage service is compliant to the necessary laws, protecting clients and bringing you a trustable environment.
Also, Depaho Ltd or FXGM authorized by the South Africa FSP so broker gains effective exposure and presence in additional markets together with a strict follow of customer protection, due to regulations. Overall, the broker being regulated by several authorities worldwide meaning broker working closely with best concepts of trading operation ensuring its clients with safety procedures. As such, numerous regulatory rules covers all aspect on how the trading environment is established, money operated, client treated, as well as covered by the compensations in case of insolvency. Which is in reverse bringing to you as trader confidence in brokers offering and opportunity to trade with a reliable firm, which is never a case of offshore entities besides its super attractive opportunities where you never know what to expect.
FXGM Trading Platforms
FXGM gives you an opportunity to access the trading environment through an easy to use trading platform WebPROfit, which is an online-based platform that does not require installation. Also, there is a developed Mobile PROfit allowing to stay connected and updated on the go, just through your mobile.
WebPROfit provides vast trading tools accompanied with the latest news, real-time charts and additional analysis tools. Overall, the FXGM Review of a platform concludes its software as a harmonized system to use for your trading strategy either you are a beginning or professional trader.
You will find all what is necessary for good performance without complications, even though this is the only option of the platform available at FXGM. In case you require industry known MetaTrader4 you better check other brokers by the link.
What is actually great at FXGM, the broker supports you with comprehensive learning materials, access to Trading Insider that brings you sentiment data, as well as Trading Central with its certified financial research materials. So all in all, the FXGM toolbar and software bring you all what is needed for a good deploy of the strategy, whatever style it is.
What is FXGM Spread?
FXGM defined various accounts either for retail traders or professionals. If you are a retail trader there are six account types where the first 10 trades are protected from loses, as a reward to get familiar with the software, so also the accounts are defined by the size and its offered package with higher discounts on prices, see sample below.
Likewise, professionals may access specified conditions along with higher leverage ratios and tailored solutions according to particular needs.
FXGM as an STP broker provides tight variable spreads according to the market conditions, while actual cost is defined by the account type you are using. Each account type, as mentioned, features Price Discount up to 25% for both spread and rollover fees, so you may benefit from better costs as long as your trading size increases.
You may see some of FXGM spreads below, as well compare FXCC spread to another popular broker FXCC.
The first thing to check while you need to know the maximum leverage ratio is under which entity you will be trading. As we mention within FXGM Review, the broker operates through various jurisdictions and complies with its particular regulatory restrictions.
Therefore, European clients may access the maximum leverage of 1:30 for forex instruments, available for retail traders. While trading with South Africa branch traders will get higher ratios, as jurisdictions allow bigger leverage levels. Nevertheless, the maximum leverage for professionals goes up to 1:200 respectively once the status is confirmed.
What Payment Methods FXGM offers?
The variety of methods to deposit or withdraw funds including most used options, so you will always fid a way to transfer money conveniently. This includes Credit/ Debit Cards, Wire Bank transfers, e-wallets and even PayPal. Nevertheless, always make sure to check with particular entity for the payment providers applicable fees and conditions, as they may vary.
FXGM minimum deposit
The minimum deposit set by FXGM is 200$ for the first-grade retail account type, while the next grade account will require bigger amounts. It is considered a good amount for beginning traders, while with a slightly bigger amount you will get some extra discount on trading costs which is also something we like at FXGM offering.
FXGM withdrawal fee
Moreover, FXGM does not charge any fees for making the deposit, as well as withdrawals. However, depending on your country of residency and international policies some fees might be applicable and will be solely your responsibility, so you better check for them with a provider or with customer service of FXGM.
Conclusion on FXGM
FXGM Review shows us a company that operates from its European entity based in Cyprus, as well as expanded offering through the South Africa branch. What is important broker is regulated in each region it operates, making its conditions transparent and reliable to you as an investor. As for FXGM trading conditions, we rather consider them competitive and pleasant either for beginning traders or professionals. Its truly diverse range of account types will give you extra benefits with bigger discounts as long as your trading account keeps growing, which promises you fruitful cooperation.
Yet, we would be happy to know your personal opinion about FXGM, you may share your experience in the comment area below, or ask us for some additional information if required.
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