FXGM Review 2024

FXGM review
FXGM Fees Explained

• FXGM withdrawal fees varies on payment method
• FXGM does not charge a fee for inactive accounts.
• FXGM doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from FXGM are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

FXGM Costs To Check

Modern brokers like FXGM provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, FXGM may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall FXGM trading profitability.

How FXGM Fees Compare Against Other Brokers

FXGM Minimum Deposit

FXGM requires a minimum deposit of 200 GBP/USD/EUR when opening an FXGM trading account.

A minimum deposit is the minimum amount of money required by FXGM to open a new online brokerage account with them.

Don't be scared off by brokers like FXGM charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like FXGM, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

FXGM Withdrawal Fees

The fees for withdrawing funds from your FXGM account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your FXGM withdrawal request is important.

FXGM Withdrawal rules may vary across different brokers when it comes to transferring funds from your FXGM or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with FXGM may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the FXGM withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from FXGM. Researching and comparing FXGM withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing FXGM funds frequently or dealing with large sums of money. Awareness of these FXGM fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your FXGM funds.

For example, FXGM allows you to withdraw your funds to Bank Wire transfer, Debit cards, Visa, MasterCard, E Merchant Payment Solutions, Klarna, Maestro, Neteller.

FXGM Inactivity Fees

FXGM does not charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by FXGM terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all FXGM fees and services. It's recommended that you check the FXGM website before signing up. If you decide to close your FXGM account, it's important to do so with the FXGM broker customer support and obtain confirmation that no remaining FXGM fees are due.

Brokers like FXGM must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

FXGM Deposit Fees

FXGM does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

FXGM Commission Fees

FXGM does charge commission on CFD instruments.

Brokerage firms like FXGM may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the FXGM trading account level held by the trader.

FXGM may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing FXGM terms and conditions to understand the commission fees and any other charges that may apply is essential.

FXGM review
Trading on FXGM web platforms and other applications

FXGM provides traders with a modern custom platform that can be accessed through a browser-based web application. If you would rather see a MT4 brokers, or MT5 brokers you can do so here.

FXGM is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

FXGM is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

A FXGM iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.

FXGM also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See FXGM's platforms

Is the FXGM Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the FXGM trading platform to protect you on PC and mobile FXGM platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using FXGM web trading platforms.

FXGM Trading Platform Options

After logging into your FXGM account, you'll find a range of trading platform options available below.

• MetaTrader 5 (MT5)
• cTrader

Please note that FXGM does not support the popular MetaTrader 4 (MT4) trading platform. However, if you're looking for a broker offering MT4, you can explore other options available through various online platforms here.

Let's explore each of these trading platforms in detail and what options FXGM gives you.

FXGM & MetaTrader 5 AutoChartist

Autochartist on the FXGM platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for FXGM MetaTrader 4 and MetaTrader 5 Autochartist can scan the market using an expert advisor script.

With Autochartist, FXGM traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save FXGM users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. FXGM traders can navigate the platform and find the information they need to make informed trading decisions.

FXGM Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for FXGM traders of all experience levels.

FXGM review
FXGM MetaTrader 5 (MT5)

FXGM MetaTrader 5 (MT5) In Detail

FXGM MetaTrader 5 (MT5) is a multi-asset trading platform with an extensive range of trading features and financial research tools. Besides the ability to trade Forex and CFDs, FXGM MT5 offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices. MT5 was launched in 2010 and came with advanced charting tools, additional timeframes, and an updated version of MetaTrader 4.

MT5 on FXGM provides the convenience of using automated trading systems and copy trading, giving FXGM traders competitive research tools in the financial markets.

You can learn more about the MT5 Platform here. You can also learn more about the differences between MT5 and MT4 here.

Trade FXGM MetaTrader 5 WebTrader

Access your FXGM MetaTrader 5 accounts from any web browser. MT5 on FXGM features a massive range of tools like additional timeframes and the most up-to-date technical indicators to give you all the trading resources you need to trade on and analyze the financial markets.

FXGM review
FXGM MT5 Buying and Selling

FXGM MetaTrader 5 on iOS Devices

FXGM MetaTrader 5 Can Operate on newer iOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. You should upgrade the iOS MetaTrader 5 app regularly. New versions provide improved functionality and increased stability. FXGM MetaTrader 5 allows traders to look at market statistics of financial instruments traded in the market execution mode.

FXGM MetaTrader 5 on Android Devices

The FXGM MetaTrader 5 trading platform is available on Android smartphones or tablets powered by the Android 5.0 or higher operating system. Additionally, to connect to the FXGM trading server. Take the time to understand all of the FXGM Android MetaTrader 5 features. With FXGM MetaTrader 5 for Android, you can trade various financial instruments anytime, anywhere.

FXGM Metatrader Mobile Application Features

MetaQuotes, the developers of Metatrader, have listened to the feedback of their millions of users and have built what has become one of the most popular mobile trading platforms in the world. MetaTrader features include :

• FXGM Financial instrument quotes
• View in-depth price charts of financial instruments with FXGM MetaTrader
• Manage trades and open positions on FXGM MT4 & MT5
• View your FXGM trading history
• View market news
• MetaTrader internal messaging on FXGM
• View and research market statics of FXGM financial instruments
• FXGM Position opening and closing
• Lookup symbols in the FXGM MetaTrader quotes section
• Display of deals on FXGM graphs
• FXGM Timeframe selection for graphs and charts
• Additional vertical scaling of FXGM graphs
• Capability to transfer FXGM accounts to other devices using QR codes
• Information is available only if it's supplied by FXGM
• Access the OTP generator through FaceID or fingerprint with FXGM

FXGM MetaTrader 5 Advanced Trading Tools

FXGM MetaTrader 5 has many advanced trading tools for more advanced users. Understanding these tools can give you a competitive edge.

• FXGM MT5 Depth of market bids and asks
• Financial Price Data on FXGM
• Margin Calculation, Futures, Forex on FXGM
• Advanced Techincal Analysis on FXGM MT5
• One click trading on FXGM MT5
• FXGM Spreads
• FXGM Futures
• FXGM Trading Reports

FXGM review
FXGM cTrader

FXGM cTrader In Detail

FXGM cTrader is a versatile trading platform supporting Forex and CFD brokerages. With various features, it caters to every investment taste.

FXGM offers cTrader Premium Charting and Manual Trading Platform

FXGM cTrader is a top-of-the-line multi-asset trading platform that provides advanced order types, charting tools, FXGM level II pricing, and fast execution. The FXGM cTrader platform's intuitive dashboard is accessible from various devices, making it a state-of-the-art infrastructure for FXGM traders.

cTrader Copy available on FXGM

FXGM cTrader Copy empowers everyone on the FXGM platform to share their investment and trading strategies for a fee or commission. FXGM cTrader users can search and replicate the approaches available when investing. Furthermore, FXGM traders can use their risk management configurations.

cTrader Automate available on FXGM

cTrader Automate allows FXGM traders to create algorithmic trading robots to automate financial trading plans. Dealers can use cTrader's contemporary C# API to write code within the FXGM cTrader IDE, which allows developers to optimize and test their financial robots.

cTrader Open API available on FXGM

Build your FXGM trading software using cTraders Open API. It is a free, secure and publicly available API for all. FXGM developers can use cTrader's mature infrastructure to construct desktop, mobile and online software. The open API allows FXGM trading developers to interact and interface with any FXGM cTrader account.

You can learn more about the cTrader Platform Here.

FXGM Trading benefits

• FXGM Allows scalping
• FXGM Offers STP
• FXGM Low min deposit

FXGM Trading Accounts Offered

Below we give an overview of the account types that FXGM offer. Whatever you are looking to trade, the varying FXGM account types will be able to provide you with what you need.

• FXGM Standard account
• FXGM STP account
• FXGM Islamic account

Can I try FXGM?

FXGM provides a demo account that enables individuals to explore trading before investing their funds. By creating a FXGM practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the FXGM demo account can help individuals to make informed decisions before investing their money.

Open a demo FXGM account to practice and trade.

Your capital is at risk

FXGM withdrawal and funding methods

It's essential to remember that the payment methods provided by FXGM vary based on the FXGM entity and the FXGM client's country of residence. To view the FXGM payment options available, you can log into your FXGM member's area.

FXGM offers various funding payment methods listed in your FXGM dashboard if available in your region. To learn more about the FXGM funding and withdrawal options available in your area, you can explore the FXGM website.

FXGM provides several payment methods for funding your FXGM account. You may utilize any of these deposit options if they are available in your region. FXGM ensures that users have multiple payment methods to choose from, making it more convenient for verified FXGM account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the FXGM user's location. learn more about FXGM funding and withdrawal methods.

FXGM Payment Methods

Some FXGM payment methods are local and are available only to specific regions. FXGM account holders should check which payment methods are provided in your region.

• FXGM accepts Bank Wire transfer
• FXGM accepts Debit cards
• FXGM accepts Visa
• FXGM accepts MasterCard
• FXGM accepts E Merchant Payment Solutions
• FXGM accepts Klarna
• FXGM accepts Maestro
• FXGM accepts Neteller

How can I start trading with FXGM?

To open a trading account with FXGM, individuals can sign up on the FXGM website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for FXGM account validation and making a deposit. Once completed, FXGM users can download the trading platform of their choice.

It's important to note that FXGM requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps FXGM maintain a trustworthy financial environment for its 2,000 users. Detailed information on the FXGM trading platforms is available on their website.

Your capital is at risk

Performing trades with FXGM

When using FXGM, the minimum trade size is typically varies units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. FXGM have a max trade of varies. With STP execution on the FXGM platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing.

Like other brokers, FXGM margin requirements can differ depending on the traded instrument.

CFD Trading on FXGM

We will show you an example of the basics of using FXGM leverage.

CFD trading on FXGM allows traders to speculate on the price movements of various financial instruments against the broker FXGM, without actually owning real assets. With CFDs, FXGM traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

FXGM provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, FXGM leverage profits and losses are magnified when trading. For instance, using CFDs, you use the FXGM trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, FXGM leverage magnifies both profits and losses in trading.

Trading CFD trades on the FXGM platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced FXGM traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Your capital is at risk

Education Resources at FXGM

To trade effectively with FXGM, it's important to have a good understanding of the FXGM trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with FXGM and externally.

FXGM . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with FXGM. Familiarizing yourself with the FXGM trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using FXGM. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with FXGM involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like FXGM, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with FXGM. Explore the FXGM platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with FXGM, before live trading.

Customer Support at FXGM

As part of our FXGM review, we review customer service options, response times and problem resolution effectiveness on the FXGM trading platform. The FXGM trading platform supports multiple languages, which includes English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian.

FXGM Available Support Types

Based on our experience, we have given FXGM a D grade for customer support. We encountered some slow response times or FXGM queries that were left unanswered.

Compared to other brokers, FXGM offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at FXGM

FXGM does not offer LiveChat Support.

Email Support at FXGM

We tested the email support of FXGM by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any FXGM response.

The FXGM team did resolve and answer our queries, but the email support from FXGM was overall average compared to other brokers we have tested.

Phone Support at FXGM

We contacted FXGM via phone and received quick assistance within 10 minutes of our call.

The FXGM phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by FXGM and found that they could assist us in various languages.

While we found the FXGM phone support satisfactory, there is room for improvement in response time.

See how FXGM Support Compares Against Other Brokers

What you will need to open an account with FXGM

As FXGM is regulated by Cyprus Securities and Exchange Commissions (CySec).

As a new client of FXGM, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with FXGM in your region. During the FXGM account opening process, you will be asked to provide FXGM with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with FXGM have the following documents available.

• FXGM require a scanned colour copy of your passport, driver's license or national ID card.
• A recent utility bill or bank statement that confirms your residential address for FXGM compliance. This must be dated within the last six months.
• If you plan to fund your FXGM account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the FXGM platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under FXGM Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring FXGM's platform.

However, remember that you won't be able to make trades on FXGM until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the FXGM KYC compliance process as soon as possible to avoid any delays in accessing the FXGM platform's features.

It is important to note that FXGM may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the FXGM platform and features immediately. However, you must pass the verification process to start live trading with FXGM, which can take up to a few business days.

To start the process of opening an account with FXGM you can visit the FXGM trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.fxgm.com/ on April 20, 2024.

Watch this FXGM Explainer Video

FXGM review written by Andrew Blumer and Mark Hansen