Score
Cyprus
|
5-10 years
| http://www.fxgm.com/
Website
Rating Index
Influence
D
Influence index NO.1
Iraq 2.65 Cyprus
Czech Republic
fxgm.com United States Czech Republic
VIP is not activated.General Information & Regulation
FXGM is the trademark name of Depaho Ltd, which provides CFD trading services on foreign exchange, commodities, and stocks for retail and professional clients worldwide. Depaho Ltd holds licenses authorized by several regulatory bodies, such as the full license of Cyprus CySEC (license number 161/11), the retail foreign exchange license of Germany BaFin (license number 130520), the retail forex license of the BDF in French, the EU authorization license of the FCA of the UK (license number: 593528), the financial services enterprise license of the FSCA of South Africa (license number: 47709), and the retail foreign exchange license of the CNMV of Spain (license number: 3321), and the retail forex license of CONSOB of Italy (license number 3567)
Market Instruments
FXGM provides investors with a wide range of trading assets, mainly foreign exchange currency pairs, commodities, precious metals (gold & silver), indices, ETFs, cryptocurrencies, and stocks.
Minimum Deposit
Nine forex trading accounts are available on FXGM platform: the Basic, Discovery and the Silver. The minimum initial deposit to start a basic account is $200, quite reasonable compared with most brokers.
Leverage
The leverage of foreign exchange currency pairs, gold, silver, and oil in professional accounts is 1:200, the leverage of the remaining commodities is 1:100, the leverage of index CFDs is 1:100, and the leverage of single stock CFDs and exchange-traded funds is 1:10. Compared with professional accounts, the leverage of retail accounts is obviously much more conservative. For example, the leverage of major currency pairs is 1:30, 1:20 for gold and major indices, and 1:5 for single stocks and ETFs.
Spread & Commissions
The spread for EURUSD on the FXGM platform is 4 pips, gold 1 pip, silver 0.06 pips, Brent oil is 0.12 pips, the spread of ADX General is 20 pips, ASX200 4 pips, CAC40 4 pips, BitUSD 1300 pips, Ether 48 pips, Adidas stock 1.5 pips, ABB stock 1.5 pips.
Trading Platform
Instead of the most popular MT4/MT trading platform in the market, FXGM provides traders with WebPROfit and Mobile PROfit. WebPROfit is compatible with all major browsers, including Chrome, Firefox, IE, and many others, and investors can trade foreign exchange, commodities, and CFDs without downloading. Mobile PROfit, on the other hand, allows traders to access WebPROfit via cell phones and tablets.
Deposit and Withdrawal
FXGM supports traders to deposit and withdraw funds to and from their investment accounts through a series of convenient payment methods, such as VISA/MasterCard/Maestro credit/debit cards, wire transfer, Skrill, Neteller, PayPal, RAPID Transfer, MyBank, etc.
Trading Hours
The FXGM site is available to traders 24/7. The trading hours for each asset are given on the broker product sheet and depend on the market. For example, forex runs 24 hours a day from Sunday at 9 pm to Friday at 9 pm (GMT).
Accepted Regions
FXGM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use FXGM from United States, Canada, Belgium, Iran.
One of the main things I look for when choosing a broker is whether they offer a demo account, and FXGM unfortunately does not. For me, a demo account is crucial to practice trading without risking real money. I would want to test out their platform first before committing to a live account. Without this feature, I feel uneasy about logging into FXGM because I wouldn’t be able to get a feel for the platform risk-free.
For new traders, I’d personally be cautious about using FXGM. Even though the initial deposit is relatively low at $200, the revoked licenses and lack of regulatory oversight make it difficult for me to recommend FXGM. New traders should prioritize safety and regulatory compliance, and since FXGM doesn’t offer that assurance, I’d suggest looking for other brokers that are fully regulated and provide demo accounts for practice. I’d feel more comfortable logging into FXGM if they were more transparent and had a better regulatory standing.
FXGM offers its proprietary platforms, WebPROfit and Mobile PROfit. While I appreciate that I can trade directly from my browser or mobile device, I’ve always preferred using MT4 or MT5 for their advanced features and reliability. The absence of these platforms in my FXGM review is a dealbreaker for me. I’m very familiar with MT4 and find it essential for my trading style, so I would hesitate to trade with FXGM if I can't use those platforms.
The spreads with FXGM can be a bit high, especially on major currency pairs. For instance, EUR/USD spreads can go up to 4 pips. In my experience, I’ve always looked for brokers with tighter spreads to minimize costs, and FXGM’s spread is something I’d keep an eye on. The broker does not mention much about additional fees like swap rates or inactivity fees, which in my opinion is a bit concerning. I’d prefer more transparency before logging into FXGM or making any deposits.
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FX2790255852
Spain
These thugs entice you to deposit, they offer you forbidden bonuses, and they entice you to open a very risky operation to deposit, they classify you as a professional customer, without the stipulation by ESMA, they do not allow you to withdraw, I filed a complaint, and the police finally confirmed.
Exposure
FX4354253252
South Africa
planned R3500 minimum turned to R43500 loss FGM does not follow their own policy, they recruite unexperienced traders and use their profetional skills deceiving and convinsing them to increase their capital after a minimum deposit is recieved in pretense it's "advantageous" for new traders as positions are "protected"[3b] however you endup loosing it all, Sulav c.s contacted me and handed me to Peter also c.s,I sent them an email about my experience but they ignored me as if I did not matter.
Exposure
FX2648139805
Hong Kong
FXGM said that I need to ask the agent to open a funding channel, which no agent is contactable. The withdrawal is unavailable.
Exposure
FX1240953418
United Kingdom
I just got confused by so many forex scammers, some of which are really hard to identify. FXGM is an example, without wikifx, I guess I will never be able to find out that it's actually a scammer.
Neutral
FX1200429457
Colombia
It is nothing more than one such fraudulent forex broker. please don't be fooled by the incredibly favorable conditions and always keep an eye out to protect your money.
Neutral
FX3919605548
Hong Kong
Having traded for some while, I couldn’t withdraw my fund. The service is out of contact. After inquiring them by email, my account was banned in 10 minutes. I’ve never seen such a scam platform before.
Exposure
FX3561724695
Hong Kong
The backstage is almost a facade, in which there is no deposit or trading record, let alone withdrawal. My balance has become 0. FXGM refreshes my cognition.
Exposure
FX2326720470
Hong Kong
Having deposited $100, I couldn’t make withdrawal. The platform is out of contact.
Exposure
FX1849853128
Hong Kong
The withdrawal is unavailable in this scam platform. Be careful!!!
Exposure
FX8699331969
Hong Kong
As long as I deposited several hundred dollars, the account manager disappeared.
Exposure
我们的天空
Hong Kong
As long as you deposit in this platform, your fund will be doomed.
Exposure
FX1446201020
Hong Kong
I deposited the day before yesterday. Having made some profits, my account was banned. Hope you stay away.
Exposure
FX2971176333
Hong Kong
The withdrawal is unavailable. The manager is disappeared.
Exposure
追光者92907
Hong Kong
There is only deposit channel in this platform. Having this exposed, I hope you avoid being cheated.
Exposure
淡然81449
Hong Kong
The withdrawal has been unavailable for one week.The customer service doesn’t respond.
Exposure
淡然81449
Hong Kong
The withdrawal applied on November 20th hasn’t been received on 25th yet.Both the customer service and the brokerage give no respond.Is the platform a scam?
Exposure
红专
Hong Kong
The customer service doesn’t respond.We, 8 persons can not withdraw.
Exposure
珍惜56566
Hong Kong
The withdrawal hasn’t been received for 1 week.The customer service didn’t respond.
Exposure
AAA抵押车圈
Hong Kong
The withdrawal applied on last Thursday was said to be received on Friday.Today is Monday,it is impossible.Neither the customer service nor the agent is disconnected by phone or Wechat.
Exposure