FXGM Review 2019 | Is FXGM a Scam or Legit Forex Broker?

Read our FXGM review to find out if FXGM is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.0/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
3.0/5
Trading platforms
20% Complete (danger)
1.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
FXGM
FXGM Overview

FXGM is an online broker founded in Cyprus in 2011. It is regulated by CySEC and the FSCA. The brand offers a wide variety of trading currencies, stocks, commodities, indices, cryptocurrencies, exchange traded funds and options through CFDs.

# Broker's Features FXGM Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review FXGM.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FXGM offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Crypto, Futures.

Tradable Products: There are 43 Currency pairs, 17 Commodities, 84 Shares, 18 Indices, 9 Cryptocurrencies, 8 options assets and 2 ETFs.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXGM is Dealing Desk.

Features: The WebPROfit trading platform has 10 timeframes, over 150 indicators, advanced order management features, charts, account management and several other features.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FXGM recommended minimum capital is $200.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXGM is regulated by CySEC, FSCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: FXGM is licensed and regulated by the CySEC and FSCA. The company has implemented a number of security measures in order to protect investors’ funds.

Languages Available: Next lets have a look at each broker's different Language options. FXGM offers English, Finnish, Italian, Polish, Spanish, Swedis.

Payment methods: Next lets have a look at each broker's payment options. FXGM offers Credit Card, E Merchant Payment Solutions, EasyEFT, Klarna different payment methods for each account types.

Deposit and withdrawal: FXGM accepts credit/debit cards like Visa and MasterCard, Maestro, bank wire transfers, E-wallets like Skrill and Neteller, Klarna, E Merchant Payment Solutions, Entercash, Sofort Banking, EasyEFT.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXGM makes Proprietary available to clients.

Web & Desktop Trading Platforms: FXGM provides the “WebPROfit” proprietary web-based trading platform.
Mobile Trading Platforms: The mobile PROfit app is developed for iOS and android phones. It is packed with features that can be used for technical analysis, order management, graphs and account management options.

Other

Trader Education
There is a basic trader education section, traders have access to education materials mostly after registering on the website.

Promotions
For retail clients, the company cannot offer any bonuses or promotions, due to regulations, however, they still can benefit from the trading plan they choose.

Support
Customer support is available 24/5 on phone, email, fax, WhatsApp, Webchat and web forms. The webchat took a few minutes to be attended, but the response was factual and efficient

Recup
FXGM is an online broker that offers forex and CFDs for trading. The brand is regulated and therefore there is protection of clients’ funds entrusted into their brokerage firm. The brand offers a proprietary platform called WebProfit.

Final Thoughts
Some Research tools such as Economic Calendar, Trading Insider, Analysis from Trading Central and sms services.

Trading Experience
FXGM’s services are best for intermediate traders, who are able to incorporate technical analysis and market research from Trading Central into their trading styles.

People Also Asked

Is FXGM regulated?
Yes, FXGM is regulated by top-tier regulators, CySEC, FSCA inclusive.
Where is FXGM based?
FXGM is based in , Cyprus
How does FXGM make money?
FXGM charges a spread between the bid price and ask price. It does NOT charges a commission.
How do I deposit in FXGM account?
With FXGM you can deposit money via the following means; Credit Card, E Merchant Payment Solutions, EasyEFT, Klarna.
How do I withdrawal in FXGM account?
FXGM lets you request a withdrawal of funds from your account via the following means; Credit Card, E Merchant Payment Solutions, EasyEFT.
What is the minimum deposit for FXGM?
FXGM has $200 minimum deposit.
What are the available account base currencies with FXGM?
FXGM trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in FXGM?
FXGM has a maximum leverage is 1:200 for professional traders.
How do I open an account with FXGM?
Opening an account with FXGM is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does FXGM use MetaTrader?
FXGM platforms: No, FXGM do not use MetaTrader but it uses the following platforms: Proprietary
What type of broker is FXGM?
FXGM appears to be a Dealing Desk broker which offers market access to a variety of traders.
Does FXGM accept US clients?
No
Does FXGM offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with FXGM: You can trade a wide variety of instruments with FXGM: Currencies, Commodities, Indices, Stocks, Crypto, Futures