FXGM is a CFD Broker that features on its trading platform CFDs on shares, commodities, currencies, indices, ETFs and cryptocurrencies. FXGM is a subordinate company of Depaho Ltd (just like TradeApp and GTCM), a corporation that is regulated and overseen by the Financial Conduct Authority (FCA) in the United Kingdom and in Cyprus by the CySEC. The minimum spread is for EUR/USD 3.0 pips*, real trading is possible with a minimum deposit of $200. The FXGM website is available in English, Finnish, German, Italian, Polish, Spanish, Swedish.
What do we cover in our FXGM Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.|
Basic information about the broker
- Website address: www.FXGM.com
- Leverage: up to 1:30
- Instruments: CFDs – shares (71), commodities (17), currencies (32), indices (18), ETFs (2) and cryptocurrencies (5)
- Minimum deposit: $200
- Demo account: No
- Methods of deposit and withdrawal: wire transfer, credit and debit cards (Visa, Master card, Maestro), Skrill, Neteller, Paypal
FXGM Trading Platform
The FXGM broker offers its own trading platform called WebPROfit. There is no need to download anything as the platform is web-based – meaning it is possible to use it directly via your web browser. The platform provides real-time price quotes, charts, analysis and financial news. The broker has also its own trading app for mobile devices as well called Mobile PROfit.
As any other CFD broker, FXGM charges a spread fee. For the most current spread charges, please visit the FXGM.com website. Here is a spread comparison table that contrasts FXGM spreads with popular industry competitors.
*Spreads recorded on 12.06.2019 at 17:15 GMT, information was taken from the Product Sheet & Costs page that the broker features on its website. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
To sum up the FXGM Review
FXGM adheres to strict regulatory guidelines of the CySEC (No 161/11 ) and FCA. The number of tradable assets is decent, the spreads that apply to these assets are, however, quite high. The FXGM broker has no information on its website about a free practice demo account.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with FXGM.
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