GMTMarkets Review – Is it a Scam or Legit Broker (2021)

Information source:
The source of this information is the website and the broker's trading platform listed in the Web section of this review. The operator of this website does not verify this information and is not responsible for its accuracy, completeness, timeliness, truthfulness or the compliance of a broker with legal regulations. Please verify whether the broker is authorized to provide its services in your country of residence in accordance with the legal regulations that apply to its business.

In this GMTMarkets Review, we are going to take a look at the offer that this broker prepared for its traders. GMTMarkets is regulated by the ASIC in Australia. GMTMarkets operates on the financial market since 2011. When it comes to trading platforms, the broker features MetaTrader 4. The GMTMarkets minimum deposit is 500 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this GMTMarkets Review

Website address:gmtmarkets.com.au
Operated by: GMTK Global Pty. Ltd.
Licensed and authorised by regulatory bodies:ASIC
Supported languages:English
Customer support available via:E-mail, phone, live-chat
Contact details:[email protected] (+61) 3 7022 9688
Available deposit methods:Debit and Credit Cards, bank transfer, Bpay, Poli
Available withdrawal methods:Debit and Credit Cards, bank transfer, Bpay, Poli
Minimum deposit:500 USD
Min. trade in lots:0.01
Spreads:Minimal spread on the currency pair EUR/USD - 1,5 pips * on standard account type
Tradable assets:
Might be a CFD.
Forex (32)
Mobile app: Yes
MetaTrader 4:Yes
Other trading platforms:
Maximum leverage:

The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with.

For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions.

1:200
Social trading:No

GMTMarkets Fees (minimal spreads)

We have scanned fees (minimal spreads) that GMTMarkets charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
* 1,5* * * * *

*Minimal spreads were recorded on 17.09.2020 at 10:01 for the standard account. GMTMarkets spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: Renesource Capital , ZFX , GoCapitalFX and CubeGlobalFX

Frequently Asked Questions

🧐 Is GMTMarkets a Scam?

GMTMarkets is a broker licensed and regulated by the ASIC. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that GMTMarkets is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the GMTMarkets minimum deposit?

In order to start trading with GMTMarkets, you have to deposit at least 500 USD (Trading accounts can also be held in USD, EUR, GBP).

📵 What deposit and withdrawal methods GMTMarkets supports?

GMTMarkets allows funding your account via Debit and Credit Cards, bank transfer, Bpay, Poli.

⚖️ Would you recommend me choosing GMTMarkets?

We don’t have our own personal experience with GMTMarkets. However, because the broker is regulated by the ASIC, there is a high chance that it is not a scam. With that being said, it still does not mean that GMTMarkets is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 71% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $50 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC FCA £/€/$ 200 In-house built platform 1.0 PIPs ¹
  • The World's Leading Social Trading Network
  • International support
Start tradingRead a review
CBIFSCAASIC £/€/$ 100 MT4 and MT5 0.9 PIPs ¹
  • International support
  • Long-established company
Start tradingRead a review
CySECFCA £/€/$ 1 MT4 & xStation 5 0.9 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2021 at 11:42 GMT.

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