FXGM broker review: main features and services

Regulation and security

FXGM was previously regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker uses various measures to protect clients’ personal information, including the use of SSL encryption. Now this broker is governed by BaFin 130520, Bank de France 74353, CNMV 3321, CONSOB 3567, FCA 593528, FSCA 47709, and ESMA.

Trading instruments

FXGM offers access to a wide range of trading instruments, including currencies, stocks, indices, commodities and cryptocurrencies. This allows traders to diversify their trading portfolios, however the selection of instruments may be limited compared to large global brokers.

Account types and fees

FXGM offers several account types, including standard and premium options, which differ in minimum deposit, spread and commissions. The fee structure may seem complex and may require additional research to understand all possible trading costs.

Junior

Minimum deposit: $200

Features: e-book, educational materials, personal account manager, trading insider, one click trading, pop up alerts, autochartist

Premium

Minimum deposit: $10.000

Features: all Junior features + personal customer service agent

VIP

Minimum deposit: $30.000

Features: all Premium features + spread discount on FX majors, commodities and indices

Platforms

FXGM uses the PROfit platform, available both in a web version and as a mobile application. The platform provides basic trading and analysis tools but may not meet the needs of traders accustomed to the more advanced features available in systems such as MetaTrader. While the platform is user-friendly, advanced traders might find the lack of sophisticated tools limiting for their trading strategies.

Education

FXGM offers educational resources like tutorials and webinars to help traders improve their skills. While the platform is user-friendly, advanced traders might find the lack of sophisticated tools limiting for their trading strategies. FXGM also offers a variety of educational resources, including webinars, e-books, and video tutorials. These materials may be useful for beginners, but experienced traders may not find them in-depth enough to expand their knowledge.

Advantages and disadvantages

Pros:

• Variety of trading instruments
• Strong regulation
• Educational Resources for Beginners

Cons:

• Limited trading platform features
• Complex commission structure
• Lack of popular trading platforms such as MetaTrader

Summary

FXGM is a good choice for beginner traders with a variety of trading instruments and availability of educational materials. However, more experienced traders may miss the advanced features of trading platforms and the transparency of fees. Overall, FXGM provides a basic level of service that can meet the needs of traders with limited experience. The broker’s customer support is readily accessible, offering assistance through multiple channels to resolve any issues. Despite its strengths, potential clients should carefully evaluate the platform’s capabilities and fee structure to ensure it aligns with their trading goals.