FXGM stands for Forex Global markets and it is a broker and is owned by a company which is called Depaho Ltd which is based in Nicosia, Cyprus and is a regulated by the CySEC (Cyprus Securities and Exchange Commission) this provides this brokerage company credibility, especially when it is being compared with various other offshore brokerages.
They are involved in regular forex trading as well as providing the services of personal account managers, special market analysis tools as well as 100% investment insurance to the traders who can receive protection for the first five trades that they undertake. The insurance that is used by the traders is under special terms and conditions; however it does not have any impact on the service level that this broker provides.
FXGM has the minimum initial deposit level that is $200. This is quite high as compared to various other brokerages as many other companies may demand only about a $100. Some of the companies do not even have this barrier of a minimum initial deposit and the trader can deposit as low as they can.
The website of FXGM is quite easy to use and navigate. All information that may be important to the trader can easily be accessed by simply clicking on the tabs which are on the top of the website. The landing page of provides a clear view of the different features available and the graphics are also clear, bright and beautiful.
There are around 6 different accounts that a trader can choose from and there is a minimum deposit amount for each one of them. The traders can trade in commodities, forex, stocks and futures. There are three basic accounts and three exclusive accounts and the minimum deposit for the exclusive accounts may range from around $2000 to $9,999 to open and anything over and above the $10,000 limit is the VIP account. These accounts include all basic features such as eBooks, 1:200 leverage, personal account manager and free training. There is also the option of a demo account that a user can try before venturing on their real deal but there was not much detail regarding the demo account.
Bonus and Promotions
There are no bonuses or promotions which are listed for FXGM as such but they do offer an appreciation plan to the traders which is quite unique and not being offered by any other broker. There is a protection insurance policy which they offer to the traders “first five positions”. Which means, if the trader ends up losing his or her money in their first five positions, then FXGM will reimburse the trader with the money which they have lost in the first five positions? However, if the trader makes money of profit on these positions, then he gets to keep the profit himself.
There are plenty of resources available on the FXGM website through which the trader can seek help and get themselves educated with the ways of trading. There are tools and resources that can help the clients begin trading in an informed way, whether they are new or experienced.
There is no need to sit in front of a desktop computer when everything can be done on the palm of your hand for the traders who want to track their positions as well as to execute new trades that are based on live developments which are constantly taking place in the financial markets. FXGM offers free apps for IOS as well as for android powered mobile devices, which allows the users to access the PROfit trading platform no matter where they are. Both of these mobile applications include real time trading, financial news updates and live streamed charts and prices.
FXGM offers efficient and fast customer support that is available to the users from 7 am to 7 pm from Monday to Friday. There are options for live chats, email correspondence ass well as options to e-mail FXGM representatives. The customers also have access to the company address, the international phone numbers and the Whatsapp number for customer support as well as a fax number for any query which they may have.
- The website is quite user friendly and simple to use.
- It offers different account plans which go on from $200 to $10,000 which means there is something for all budgets.
- It offers trading insurance to the user which is one of a kind.
- Their customer support options are quite a few to choose from.
- There are not many details regarding the demo account.
- For the first timer traders, having a minimum $200 limit may be too much to pay.
Overall, this company seems to be quite legit especially since it is regulated by a well known regulator and as such the traders can trust this broker. Their insurance plan for the trading is quite impressive but there is a questionable issue where the company had issues with the regulator and fined by in 2015. Since then however it has been quite smooth with the trading conditions.