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Do you want to know which is the better broker between GMI and BlackBull ?
In the table below, you can compare the features of GMI , BlackBull side by side to determine the best fit for your needs.
EURUSD: -0.4
XAUUSD: 0.4
Long: -5.34
Short: 1.53
Long: -0.02
Short: 0.01
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of gmi, blackbull-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
GMI Review Summary in 10 Points | |
Founded in | 2009 |
Headquarters | UK |
Regulation | FCA |
Market Instruments | forex, indices, gold, oil, silver |
Demo Account | Available |
Social Trading | Yes |
Leverage | 1:2000 |
EUR/USD Spread | 0.0 pips |
Trading Platforms | MT4 |
Minimum deposit | $15 |
Customer Support | 24/5 email and live chat |
GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. It also provides the popular MetaTrader4 (MT4) platform.
GMI (Global Market Index) is a forex and CFD (contract for difference) broker, operating as a No Dealing Desk (NDD) broker with Straight Through Processing (STP) and Electronic Communication Network (ECN) execution models.
GMI appears to have a number of strengths, including its low minimum deposit requirement, tight spreads, various account types, social trading solution, and competitive leverage. However, a limited range of trading instruments, educational resources, research and analysis tools may concern some traders.
Pros | Cons |
• Regulated by FCA | • Limited range of trading instruments |
• Wide range of account types | • Inactivity fee after 90 days of inactivity |
• Commission-free trading | • Limited educational resources |
• Negative balance protection | • Limited research and analysis tools |
• Social trading feature supported |
Note: The pros and cons listed above are not exhaustive and may vary based on individual preferences and circumstances.
Overall, potential clients of GMI should conduct their own research and carefully consider the advantages and disadvantages before deciding to trade with this broker.
GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk. It is important for traders to do their own research and due diligence before deciding to trade with any broker.
In the table below, these measures show that GMI takes the safety and security of its clients seriously and works to provide a secure trading environment.
Protection Measures | Description |
Regulation | FCA |
Client Fund Segregation | GMI holds client funds in separate accounts from its operational funds to ensure that they are protected in case of bankruptcy or insolvency |
Negative Balance Protection | Clients can not lose more than their account balance |
Security Protocols | Protect clients' personal and financial information, including SSL encryption, two-factor authentication, and firewalls |
Investor Compensation Fund | Provides up to £85,000 of compensation to eligible clients in case of GMI's insolvency |
Based on the information available, GMI is regulated by the Financial Conduct Authority (FCA) in the UK, which oversees the company's compliance with financial regulations and standards. The company also claims to implement safety measures, such as negative balance protection and the use of segregated client accounts, to ensure the safety of its clients' funds.
As with any financial services provider, there is always a level of risk involved, and it is essential to do your due diligence and conduct thorough research before choosing a broker.
GMI offers a variety of trading instruments across different asset classes, including:
Forex: GMI offers a wide range of forex currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
Indices: GMI offers trading on major stock market indices such as the S&P 500, NASDAQ, and FTSE 100, as well as a range of other international indices.
Gold: GMI offers spot trading in gold, which allows traders to speculate on the price of the precious metal without taking physical delivery.
Oil: GMI offers spot trading in oil, including Brent Crude and US Crude.
Silver: GMI offers spot trading in silver, which is another popular precious metal among traders.
However, other popular asset classes such as stocks and cryptocurrencies seem to be not available. Overall, GMI provides traders with many trading instruments to choose from, enabling them to diversify their portfolios and potentially capitalize on different market conditions.
GMI offers four types of live trading accounts: Cent, Standard, Standard Bonus, and ECN accounts.
Cent Account: This account is ideal for beginner traders who want to start with a small investment. The minimum deposit requirement for this account is just $15.
Standard Account: This account is suitable for more experienced traders. The minimum deposit requirement for this account is $25.
Standard Bonus Account: This account is similar to the standard account but comes with an additional bonus on deposits. The minimum deposit requirement for this account is also $25.
ECN Account: This account is designed for professional traders who want to trade with the lowest spreads possible. It offers raw spreads starting from 0 pips. The minimum deposit requirement for this account is $100.
Risk-free demo accounts and swap-free Islamic accounts are also available at GMI.
According to the GMI website, the maximum leverage offered is up to 1:2000. It's important to note that using high leverage comes with higher risks, and traders should always understand the potential risks and manage their trades accordingly.
GMI offers spreads from 0.0 pips. It's important to note that spreads may vary depending on market conditions and liquidity. Traders may also be subject to additional fees such as swaps and overnight financing charges.
Regarding the commission, it varies depending on the type of account. There is no commission charged on the Cent, Standard, Standard Bonus accounts, while the commission for the ECN account is $4 per lot.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
GMI | 0.0 pips | No ($4 per lot for the ECN account) |
XM | 0.6 pips | No |
FXTM | 0.1 pips | No |
HotForex | 1.2 pips | No |
Pepperstone | 0.1 pips | AUD $7 per lot (round turn) |
IG | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility. It's always a good idea to check with the broker directly for the latest information on their spreads and commissions.
GMI offers its clients the popular MetaTrader 4 trading platform, which is available for Windows, Mac, iOS, Android and Web. The platform includes a variety of tools and features for technical analysis, order management, and customization. It also supports automated trading with the use of Expert Advisors (EAs).
See the trading platform comparison table below:
Broker | Trading Platforms |
GMI | MetaTrader4 |
XM | MetaTrader4, MetaTrader5, XM WebTrader |
FXTM | MetaTrader4, MetaTrader5, FXTM Trader |
HotForex | MetaTrader4, MetaTrader5, HotForex WebTrader |
Pepperstone | MetaTrader4, MetaTrader5, cTrader |
IG | MetaTrader4 |
Note: The information in this table is subject to change and may not be exhaustive. It is recommended to visit each broker's website for the latest information on their trading platforms.
GMI offers social trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's social trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.
Users from different countries can fund with different methods. Just take an example of Malaysian users, they can fund their accounts via Local Bank Transfer, Neteller and Skrill.
The minimum deposit is $15 for Local Bank Transfer, and $10 for Neteller and Skrill. The minimum withdrawal is 50 MYR for Local Bank Transfer, and $10 for Neteller and Skrill.
No deposit fees are charged while withdrawal fees vary on the payment method. For example, there is no withdrawal fee for Local Bank Transfer, while a 4% withdrawal fee for Neteller and Skrill.
As for the processing time, all deposits and most withdrawals are instant, while Local Bank Transfer withdrawals may be slower, usually can be processed between 8am to 6pm daily.
GMI | Most other | |
Minimum Deposit | $15 | $/€/£100 |
The process for withdrawing funds from GMI may vary depending on the method used for the deposit. However, in general, you can follow these steps:
Step 1: Log in to your GMI account.
Step 2: Click on the “Withdrawal” option in the menu.
Step 3: Select the preferred withdrawal method from the available options.
Step 4: Fill out the withdrawal form with the required details.
Step 5: Submit the withdrawal request.
GMI may require additional verification documents before processing the withdrawal request. The time it takes for the withdrawal to be processed and the funds to be received may also depend on the chosen withdrawal method.
GMI charges various fees to its clients, including:
Overnight Financing: GMI also charges an overnight financing fee on positions held overnight. This fee varies based on the instrument traded, the account type, and the prevailing interest rates in the market.
Inactivity Fee: GMI charges an inactivity fee of $50 per quarter for accounts that have been inactive for more than 90 days.
Other Fees: GMI may charge other fees related to account maintenance, data feeds, and other services. These fees are disclosed in the account agreement and may vary depending on the client's location and account type.
It's always recommended to review the complete fee schedule and terms and conditions on the broker's website or by contacting their customer support team.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
GMI | Free | Free | $50/quarter if no activity for 90 days |
XM | Free | Free | $15/month after one year of inactivity |
FXTM | Free | Free (except bank wire) | $5/month after six months of inactivity |
HotForex | Free | Free (except bank wire) | $5/month after six months of inactivity |
Pepperstone | Free (except credit card) | Free (except bank wire) | $0 after 12 months of inactivity |
IG | Free (except bank transfer) | Free | $18/month after two years of inactivity |
Please note that fees may vary based on account type, payment method, and other factors. It's important to check with each broker directly for the most up-to-date and accurate fee information.
GMI provides customer support to its clients through various channels, including email and live chat. Customer service is available 24/5, which means that traders can get in touch with the company's representatives during business days. GMI's customer support team is multilingual, which is helpful for clients who speak languages other than English.
You can also fill in the online contact form to get in touch with GMI. However, the availability and quality of customer support may vary depending on the specific region and the volume of inquiries.
Pros | Cons |
• 24/5 customer support via phone, email, chat | • No 24/7 customer support |
• Personal account managers | • No physical offices in some regions |
• Multilingual support | • No social media support |
• Quick response time |
Note: Pros and cons may vary based on individual experiences and opinions.
Based on the analysis of GMI, it is a regulated and reputable broker that offers the low minimum deposit requirement, competitive spreads and commissions, and a choice of different account types, as well as good customer support.
One potential downside of GMI is its limited range of trading instruments and educational resources. Additionally, it offers only one trading platform-MetaTrader4. MetaTrader5 is not available.
Overall, GMI is a solid option for traders who prioritize MT4, demo trading and competitive pricing.
Q 1: | Is GMI regulated? |
A 1: | Yes. GMI is regulated by Financial Conduct Authority - FCA. |
Q 2: | Does GMI offer demo accounts? |
A 2: | Yes. GMI offers demo accounts with $10,000 virtual capital. |
Q 3: | Does GMI offer industry-standard MT4 & MT5? |
A 3: | Yes. GMI supports MT4. |
Q 4: | What is the minimum deposit for GMI? |
A 4: | The minimum initial deposit at GMI to open a Cent account is just $15. |
Q 5: | Is GMI a good broker for beginners? |
A 5: | Yes. GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 platform. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
BlackBull Review Summary in 10 Points | |
Founded | 2014 |
Registered Country/Region | Auckland, New Zealand |
Regulation | FMA |
Market Instruments | forex, energy, indices, cryptocurrencies, equities and metals |
Demo Account | Available |
Leverage | 1:500 |
EUR/USD Spread | From 0.0 pips |
Trading Platforms | TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares |
Minimum deposit | $0 |
Customer Support | 24/7 live chat, phone, email |
BlackBull is an STP (Straight Through Processing) forex broker that provides online trading services to retail and institutional clients. The company was founded in 2014 and is headquartered in Auckland, New Zealand. BlackBull is regulated by the Financial Markets Authority (FMA) of New Zealand and offers over 26,000 tradable instruments including forex, energy, indices, cryptocurrencies, equities, and metals. The broker provides clients with multiple trading platforms such as MetaTrader 4/5 and various trading tools. The company also provides educational resources to assist traders in their trading journey.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
BlackBull appears to be a reliable and well-regulated broker that offers a wide range of trading instruments, platforms, and educational resources. The broker's emphasis on security and transparency, such as offering segregated accounts and holding funds in Tier 1 New Zealand banks, is also a positive aspect.
However, there have been some negative reviews regarding difficulties in withdrawing funds and claims of the broker being a scam, which is a cause for concern.
Pros | Cons |
• Regulated by FMA | • Negative reviews from clients regarding withdrawal issues |
• Wide range of tradable instruments | • Limited range of payment options |
• Demo accounts available | |
• Multiple trading platforms and tools | |
• No minimum deposit requirement | |
• Rich educational resources |
It's important to note that this is just a general overview of the pros and cons, and individual experiences may vary.
There are many alternative brokers to BlackBull depending on the specific needs and preferences of the trader. Some popular options include:
UFX - provides a user-friendly trading platform and a wide range of educational materials, but there are some concerns about its regulation and customer service.
Valutrades - offers competitive spreads and multiple account types, but its product offerings are limited and its customer service could be improved.
Z.com Trade - offers low spreads and no deposit or withdrawal fees, but its product offerings are limited and it is only regulated in one jurisdiction.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
It's difficult to make a definitive determination on whether BlackBull is safe or a scam as there is no clear consensus on the matter. While the broker is regulated by the Financial Markets Authority and claims to hold client funds in safe, Tier 1 New Zealand-based banks with segregated accounts, the negative reviews from some clients who report issues with withdrawing their funds raise concerns. It's important for individuals to conduct their own research, carefully evaluate the broker's features and services, and exercise caution when investing their money.
BlackBull offers a diverse range of 26,000+ financial instruments across various asset classes, including forex, energy, indices, cryptocurrencies, equities, and metals. Traders have access to a wide range of currency pairs, including majors, minors, and exotics, and can also trade popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, the broker provides access to a variety of equity CFDs, including those from major markets like the US, Europe, and Asia. Traders can also trade popular indices like major US and the NASDAQ, as well as energy products like crude oil and natural gas. Lastly, BlackBull provides access to precious metals like gold and silver, which are often used as safe-haven assets during times of market volatility. Therefore, both beginners and experienced traders can find what they want to trade on BlackBull.
Demo Account: BlackBull provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: BlackBull offers a total of 3 account types: ECN Standard, ECN Prime and ECN Institutional. The minimum deposit to open an account is $0, $2,000 and $20,000 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, the ECN Standard account will be the most suitable option for you.
BlackBull offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
BlackBull spreads and commissions depend on the account type. We can see that the spread starts from 0.8 pips on the ECN Standard account, from 0.1 pips on the ECN Prime account, while only the ECN Institutional account can enjoy raw spreads from 0.0 pips.
There is no commission for the ECN Standard account, a commission of 6 USD per lot for the ECN Prime account and 4 USD per lot for the ECN Institutional account.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
BlackBull | 0.8 pips | No commission (Standard) |
UFX | 2.0 pips | No commission |
Valutrades | 0.5 pips | $7 per lot round turn (ECN Pro) |
Z.com Trade | 0.5 pips | No commission (Standard) |
Note: Spreads can vary depending on market conditions and volatility.
As for the trading platform, BlackBull provides its clients with many options. There are public platforms including TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), BlackBull Trader, and BlackBull Shares.
TradingView is a popular charting and social trading platform that allows traders to connect with other traders, access a wide range of charting tools, and share trading ideas. MT4 and MT5 are well-known platforms in the forex industry, offering advanced charting capabilities, customizable indicators, and algorithmic trading options. BlackBull Trader is a proprietary platform developed by BlackBull that offers advanced charting and trading tools, while BlackBull Shares is a social trading platform that allows clients to automatically copy the trades of experienced traders.
Overall, BlackBull's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:
Broker | Trading Platforms |
BlackBull | TradingView, MT4, MT5, BlackBull Trader, BlackBull Shares |
UFX | ParagonEx, MT4, UFX Trader |
Valutrades | MT4, MT5, FIX API Trading, ValuMax |
Z.com Trade | MT4, MT5, Z.com Trader, Z.com Web Trader |
BlackBull offers Virtual Private Server (VPS) trading to its clients, which is a useful tool for traders who use automated trading strategies or expert advisors. The broker also provides access to other trading tools such as FIX API Trading, which allows traders to connect their own custom software to the BlackBull liquidity pool, as well as Autochartist, which provides market analysis and trading signals. ZuluTrade and MyFxbook are also available for those who want to follow and copy trades of other successful traders. Overall, BlackBull offers a range of trading tools to assist traders in their trading activities.
BlackBull offers its clients multiple options for depositing and withdrawing funds, including bank wire, POLi, and credit/debit card (Visa/MasterCard). The base currencies are USD and NZD.
No minimum deposit requirement. No fees for deposits and withdrawals. Most deposits are processed instantly, while withdrawals are typically processed within 24 hours.
BlackBull | Most other | |
Minimum Deposit | $0 | $100 |
See the deposit & withdrawal fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee |
BlackBull | None | None |
UFX | None | $50-$100 |
Valutrades | None | None |
Z.com Trade | None | None |
Note: The above information is subject to change and may vary based on the payment method used. It's always recommended to check with the broker for the most up-to-date and accurate fee information.
To withdraw funds from your account, visit the “My Wallet” tab found on the left-hand side of the portal.
Find the ‘WITHDRAW FUNDS’ tab along the top of this portal page. Within this tab, you will be presented with a 4-step process to request a withdrawal.
Step 1: Select the method by which you want to make a withdrawal. Only methods that you are approved to use will show up as an option to select.
Step 2: Select the wallet from which you want to make a withdrawal. Please note: Each withdrawal request is restricted to one wallet.
Step 3: Specify the amount you want to withdraw.
Step 4: Finally, confirm your request within the Secure Client Area, and the status of your request will change to pending.
Below are the details about the customer service.
Languages: English, Spanish, French, Chinese, German, Portuguese, Italian, Thai language, Korean, Arabic, Vietnamese, etc.
Service Hour: 24/7
Live chat
Email: support@blackbull.com
Phone: +64 9 558 5142
Address: BlackBull Markets, Level 20, 188 Quay Street, Auckland, 1010
Social media: Facebook, Instagram, LinkedIn, YouTube, Twitter, WhatsApp and Telegram
Overall, BlackBull's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Pros | Cons |
• 24/7 live chat support | • No option for call back requests |
• Multilingual support | |
• Social media presence for easy communication | |
• Quick response time to customer inquiries |
Note: The information is based on online research and may be subject to change.
A series of educational resources is available at BlackBull, such as webinars, market analysis, and trading videos that cover various topics related to trading.
The educational materials are categorized based on the clients level of experience, with Forex Beginner, Forex Intermediate, and Forex Advanced categories. The educational articles cover a wide range of topics, from the basics of trading to advanced strategies and technical analysis. These resources are designed to help traders develop a better understanding of the markets and improve their trading skills, which can ultimately lead to more successful trades.
On our website, you can see that some users have reported unable to withdraw and scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Based on the information provided, BlackBull appears to be a well-regulated broker that offers a wide range of tradable instruments across multiple asset classes, as well as a variety of trading platforms and tools. The broker's educational resources and customer service are also noteworthy.
However, there are some negative reviews from clients regarding difficulty with withdrawals and accusations of being a scam platform, so traders should proceed with caution and do their own research before investing with BlackBull.
Q 1: | Is BlackBull regulated? |
A 1: | Yes. It is regulated by Financial Markets Authority(FMA) in New Zealand. |
Q 2: | Does BlackBull offer demo accounts? |
A 2: | Yes. |
Q 3: | How much leverage does this broker offer? |
A 3: | The maximum leverage of BlackBull is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information. |
Q 4: | Does this broker offer copy trading or social trading? |
A 4: | Yes. BlackBull offers both of them. |
Q 5: | Does BlackBull offer the industry-standard MT4 & MT5? |
A 5: | Yes. It supports TradingView, MT4, MT5, BlackBull Trader and BlackBull Shares. |
Q 6: | What is the minimum deposit for BlackBull? |
A 6: | There is no minimum initial deposit requirement. |
Q 7: | Is BlackBull a good broker for beginners? |
A 7: | Yes. It is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive gmi and blackbull-markets are, we first considered common fees for standard accounts. On gmi, the average spread for the EUR/USD currency pair is -- pips, while on blackbull-markets the spread is EURUSD average is 0.2; Gold average is 0.2.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
gmi is regulated by FCA. blackbull-markets is regulated by FMA,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
gmi provides trading platform including Standard Bonus,Standard,Cent,ECN and trading variety including --. blackbull-markets provides trading platform including ECN STANDARD,ECN PRIME,ECN INSTITUTIONAL and trading variety including --.