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
FXGM General Account Information
|Account Currencies||GBP, JPY, EUR, USD, AUD|
|Web Trading App||Yes|
|Deposit Methods||Credit/Debit Cards, Wire Transfer, Skrill|
|Withdrawal Methods||Credit/Debit Cards, Wire Transfer, Skrill|
|Commission||Spread Based, No Commissions|
FXGM Trading Information
|Minimum Lot Size||0.1|
|STP Or Dealing Desk||Yes|
|Negative Balance Protection||No|
Industry Reviews Of FXGM
|Trading Platforms||WebPROfit and Mobile PROfit|
|VPS For Traders||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.