FXGM
Pros
- HIGH 1:200 LEVERAGE
Cons
- NO METATRADER
- VERY LOW REGULATION
- BAD INDUDSTRY REPUTATION
- LIMITED FUNDING OPTIONS
- COSTLY TRADING CONDITIONS
Are you looking for a new forex trading broker? We have been scammed before by brokers, so we know how tough it is to find a reputable broker that is going to keep your money safe and give you great trading conditions. In this article we are looking at FXGM
, a forex broker that has been in the industry since 2011, based in Cyprus. Is this the broker for you?
FXGM Company Information
| Year Founded | 2011 |
| Headquartered | Cyprus |
| Regulation | CySec |
| Office Locations | Cyprus |
FXGM General Account Information
| Minimum Deposit | $100 |
| Account Currencies | GBP, JPY, EUR, USD, AUD |
| Islamic Accounts | No |
| USA Traders | No |
| Mobile Trading | Yes |
| Web Trading App | Yes |
| Deposit Methods | Credit/Debit Cards, Wire Transfer, Skrill |
| Withdrawal Methods | Credit/Debit Cards, Wire Transfer, Skrill |
| PAMM Accounts | No |
| ECN Accounts | No |
| Commission | Spread Based, No Commissions |
| Micro Accounts | Yes |
| Professional Accounts | Yes |
FXGM Trading Information
| Maximum Leverage | 200:1 |
| Minimum Lot Size | 0.1 |
| STP Or Dealing Desk | Yes |
| Scalping Allowed | No |
| Hedging Allowed | Yes |
| Execution | Instant Execution |
| Negative Balance Protection | No |
Industry Reviews Of FXGM
| General Consensus | Not Trustworthy |
| ForexPeaceArmy | 1.62 stars out of 5 |
| Trustpilot | 2.4/5 – Poor |
Platform Details
| Trading Platforms | WebPROfit and Mobile PROfit |
| Crypto Trading | Yes |
| VPS For Traders | No |
| Demo Account | No |
| Instant One Click Trading | Yes |
| Number Of Pairs Offered | 40+ |
In conclusion, FXGM are not recommended by us. They have operated for 10 years within the retail space but have very little reputation or good feedback from traders around the world. They offer a very small range of platforms which limits the use for the majority of traders who like to trade with MetaTrader and cTrader.
The conditions FXGM offer just aren’t great and coupled with the lack of regulation around the world, the bad reputation and the limited tools for traders, I would recommend not using this broker. There are plenty of other brokers out there offering much better trading conditions such as IC Markets and even Hugosway if you’re looking for that very high leverage.
If you have any feedback from using FXGM, please do leave a comment to help our readers out.
