Founded in Cyprus in 2011, FXGM is a brand name owned and operated by ‘Depaho Ltd’, a Cyprus Investment Firm (CIF) that offers over 200 financial instruments in different markets, including forex, commodities, stocks, cryptocurrency, and ETFs for online trading via its intuitive trading platforms.
The broker provides clients with a variety of trading tools, fast order execution speeds, multiple payment options, as well as a choice of account types that cater to different trader’s needs.
FXGM Review Introduction
In this FXGM review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including FXGM.
FXGM Platforms & Tools
FXGM clients are provided with a web-based platform known as ‘WebProfit’. The platform is user friendly and conveniently serves both beginner and experienced traders alike. It is customizable and provides cutting-edge tools for efficient trading and market analysis. Being a web-based platform, it requires no downloads, installations, or updates.
There is the MobileProfit Platform, which is a mobile version of the trading platform. It offers the same features as the full platform but on mobile devices. The MobileProfit trading app is available for iOS and Android devices. The apps can be downloaded respectively from the Apple store and Google Play store. They enable traders to easily enter, monitor, or close trades on the go.
Clients can also benefit from other useful trading tools to enhance clients’ trading experience. They include Economic Calendar, Trading Insider, Autochartist, SMS services, News Feeds, and Market Updates.
FXGM Research & Education
The broker provides clients with educational videos that introduce clients to the trading industry; they are contained in the education section of the WebProfit platform. There is also a glossary of over 150 forex and CFD trading terminologies on the broker’s website.
FXGM Trading Accounts
There are various trading account types, depending on the investor’s Capital, desired services, and trading style. These include Basic, Discovery, Silver, Gold, Diamond, and VIP accounts. The minimum account balances range from $200 for the Basic Account to $30,000 on the VIP Account.
There are also Professional accounts, which are designed specifically for experienced traders who meet the eligibility criteria. Free demo accounts that are preloaded with $100,000 virtual funds are available for practice purposes.
FXGM Account Funding
Deposits and withdrawals to and from FXGM trading accounts can be made using any of the following methods: bank transfer, credit/debit cards, online payments, and E-wallets. The various payment methods have different processing durations.
FXGM Customer Service
The FXGM’s multilingual client support desk is available from 7 am to 7 pm. Mondays – Fridays. They can be reached via multiple phone numbers, fax, and email.
Being a Cyprus Investment Firm, FXGM is licensed and authorized by the Cyprus Securities and Exchange Commission (CySEC) with the license number 161/11. FXGM operates in line with the Markets in Financial Instruments Directive (MiFID) of the European Union (EU).
Depaho Ltd, the operator of the FXGM brand, is also licensed as a Financial Service Provider (FSP) by the Financial Sector Conduct Authority (FSCA) of South Africa. The authorization code is 47709.
FXGM Review Summary
FXGM is a Forex and CFD broker that offers multiple assets for online trading via their proprietary trading platforms. The broker provides trading tools, flexible funding options, and various account types.
It is worth mentioning that some of the trading products and services in this FXGM review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the FXGM broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.