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.
Spreadex is a Spread Betting and CFD broker regulated by the UK Financial Conduct Authority (FCA). They offer a wide range of tradable asset classes across Indices, Shares, Forex, Commodities, Bonds, Interest Rates, ETFs, Options and Cryptocurrencies on their own unique proprietary trading platform for Web, Android and iOS.
|#||Broker's Features||SPREADEX Availability||FXGM Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||❌||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||❌|
|#||Interest charges on the balance||❌||❌|
|#||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 compare Spreadex vs 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. Spreadex offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Options, while Fxgm offers Currencies, Commodities, Indices, Stocks, Cryptocurrency, Futures.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Spreadex is Dealing Desk, Market Maker, while Fxgm is Dealing Desk.
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. Spreadex is regulated by FCA, while Fxgm 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.
Account currencies: Next lets consider the Account currencies each broker offers. Spreadex offers USD, EUR, GBP different account currencies for each account types, while Fxgm offers account currencies.
Languages Available: Next lets have a look at each broker's different Language options. Spreadex offers , while Fxgm offers English, Finnish, Italian, Polish, Spanish, Swedis Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. Spreadex offers Credit/Debit Cards, Bank Transfer, Skrill, Payoneer different payment methods for each account types, while Fxgm offers Credit/Debit Cards, E Merchant Payment Solutions, EasyEFT, Klarna payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Spreadex makes WebTrader available to clients, while Fxgm offers Proprietary.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Spreadex is more reliable based on our criteria above. Only Spreadex offers demo account, allowing you to test their platform to see which is suitable for you. Spreadex has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Spreadex offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. As a market maker, Spreadex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.