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MTrading , GMI Edge Broker Comparison

Do you want to know which is the better broker between MTrading and GMI Edge ?

In the table below, you can compare the features of MTrading , GMI Edge side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
MTrading
2.02
Suspicious Clone
Under guarantee
--
5-10 years
NFA
--
B
B
555.4
266
281
266
1969
1953
1969
C
--
16
-1
16
AA
12.64 USD/Lot
24.93 USD/Lot
C

Long: -8.44

Short: -0.88

Long: -12.27

Short: -4.63

AAA
0.4
15.8
M.Premium,M.Pro
Currencies - 38;Spot Metal CFDs - 4;Spot Energy CFDs - 3;Cash Index CFDs - 10;Stock CFDs - 67
100 USD
Forex 1:1000;Indices 1:500
From 1
0.00
--
0.01 (step 0.01)
--
GMI Edge
1.51
Suspicious Clone
Under guarantee
--
--
5-10 years
VFSC
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
Standard (Bonus),ECN,Cent,Standard
--
$25
--
--
60.00
Variable
0.01
--

MTrading 、 GMI Edge BrokersRelevant information

MTrading BrokersRelevant exposure

Which broker is more reliable?

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 mtrading, gmi-edge 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:

Forex broker introduction

mtrading
Registered in Saint Kitts and Nevis
Regulated by No effective regulation at this time
Year(s) of establishment 5-10 years
Trading instruments Forex pairs, commodities, stocks, cryptocurrencies, indices
Minimum Initial Deposit $10
Maximum Leverage 1:1000
Minimum spread 0.0 pips onwards
Trading platform MT4 and its own mobile application
Deposit and withdrawal method electronic payment systems, bank cards, and wire transfer options
Customer Service Email, phone number, address, live chat
Fraud Complaints Exposure Yes
Negative balance protection Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of MTrading

Pros:

  • Wide range of trading instruments, including currencies, stocks, cryptocurrencies, indices, commodities and other highly liquid financial assets.

  • Low account opening requirements, with the ability to start trading with as little as $10 on the M.Cent account.

  • Flexible and convenient deposit and withdrawal options, including a variety of electronic payment systems, bank cards and wire transfer options.

  • Copy trading features allow novice traders to learn from experienced traders and potentially increase profits.

  • Educational resources such as articles, news and technical analysis are available to help traders stay informed and make more informed decisions.

Cons:

  • Customer support may not be able to provide quick responses due to the high volume of requests.

  • Limited options for contacting customer support, with only a few social media accounts and an online chat button available.

  • Limited educational resources compared to some other brokers in the market.

  • Limited trading platforms available, with only MT4 and a mobile application offered.

  • The high maximum leverage of up to 1:1000 can increase the risk of losses for traders who are not experienced with high leverage trading.

What type of broker is MTrading?

Advantages Disadvantages
MTrading offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, MTrading has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

MTrading is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, MTrading acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that MTrading has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with MTrading or any other MM broker.

General information and regulation of MTrading

MTrading is a global forex and CFD broker that was established in 2013. It is not regulated and offers trading services to both retail and institutional clients. MTrading provides its clients with access to over 100 trading instruments, including forex, commodities, and indices, with flexible leverage options of up to 1:1000. The company offers three types of accounts to cater to different trading needs and experience levels. In addition to its trading services, MTrading also provides educational resources and copy trading capabilities to its clients.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

General information

Market instruments

Advantages Disadvantages
A wide range of trading instruments are available, including currencies, stocks, cryptocurrencies, indices, commodities, and other highly liquid financial assets The lack of regulation makes it difficult to assess the safety of trading with MTrading
The limited information available about the trading instruments and their underlying assets makes it challenging for traders to conduct thorough analysis and risk management
The absence of regulatory oversight may lead to potential conflicts of interest and unethical business practices on the part of the company
The high level of risk associated with some of the trading instruments, such as cryptocurrencies, may not be suitable for all traders and can result in significant financial losses

MTrading offers a diverse selection of trading instruments for traders to choose from. With access to currencies, stocks, cryptocurrencies, indices, commodities, and other highly liquid financial assets, traders have the opportunity to diversify their portfolios and take advantage of market trends across multiple markets. However, the lack of regulation makes it difficult to assess the safety of trading with MTrading. Additionally, the limited information available about the trading instruments and their underlying assets may make it challenging for traders to conduct thorough analysis and risk management. The absence of regulatory oversight may also lead to potential conflicts of interest and unethical business practices on the part of the company. Finally, traders should be aware of the high level of risk associated with some of the trading instruments, such as cryptocurrencies, which may not be suitable for all traders and can result in significant financial losses.

spreads and commissions

Spreads, commissions and other costs

Advantages Disadvantages
Competitive spreads on all account types Commission charged on the M.Pro account
No commission charges on M.Cent and M.Premium accounts
Transparent trading specifications available for all accounts
Low minimum deposit requirements on all account types

MTrading offers competitive spreads on all account types, ranging from 0 pips on the M.Pro account to 1 pip on the M.Cent and M.Premium accounts. The M.Cent and M.Premium accounts do not have any commission charges, while the M.Pro account charges a commission of 4USD per standard lot traded. The trading specifications are transparent and available for all accounts, allowing traders to make informed decisions based on the trading conditions. Another advantage is the low minimum deposit requirements on all account types, which makes trading accessible for a wider range of traders. However, the disadvantage of the commission charge on the M.Pro account may be a consideration for some traders.

Trading accounts available in MTrading

Advantages Disadvantages
M.Cent account allows for micro lot trading, making it easy for beginners to start trading with just $10. The low starting capital of M.Cent account means that there is a limit to how much profit can be made.
M.Premium account offers over 100 trading instruments and requires a starting capital of just $100. The limited account types offered by MTrading may not be suitable for all traders.
M.Pro account provides access to zero spread trading with a commission of $4USD and requires a starting capital of $500. The zero spread feature of M.Pro account comes with a commission which can increase trading costs.

MTrading offers three different account types to cater to the needs of different types of traders. The M.Cent account is ideal for beginners who are just starting with trading and want to practice with micro lot trading. The M.Premium account offers a wider range of trading instruments and is suitable for traders with some experience who want to trade with larger positions. Finally, the M.Pro account is designed for more experienced traders who want to take advantage of zero spread trading with a commission of $4USD. It is important to note that the low starting capital requirement of M.Cent and M.Premium accounts makes it easy for traders to start trading with MTrading. However, the limited account types offered by MTrading may not be suitable for all traders.

account types

Trading platform(s) that MTrading offers

Advantages Disadvantages
MT4 is a popular and widely used trading platform that is highly customizable and user-friendly The company does not offer any other trading platforms besides MT4
MTrading also offers its own mobile trading application for convenient trading on-the-go The mobile application may have limited features compared to the desktop version of MT4
MT4 supports a wide range of technical indicators, expert advisors, and algorithmic trading strategies Some traders may prefer a more advanced platform with additional features and tools
MT4 has a large and active online community, which provides access to a wealth of resources, such as forums, educational materials, and custom indicators The platform may be overwhelming for new traders who are not familiar with its features and functionality

MTrading offers its clients the popular MT4 platform, which is widely used and highly regarded by traders around the world. MT4 is a customizable and user-friendly platform that supports a wide range of technical indicators and trading strategies. The platform also has a large and active online community that provides access to a wealth of resources for traders. In addition, MTrading also offers its own mobile trading application, which provides convenience for traders who need to manage their trades on-the-go. However, some traders may prefer a more advanced platform with additional features and tools, and the mobile application may have limited features compared to the desktop version of MT4.

Here is a video about their own app on their official YouTube channel.

trading platform

Maximum leverage of MTrading

Advantages Disadvantages
High Leverage allows for potential higher profits with smaller capital High leverage can magnify losses, leading to a larger risk of losing capital
Traders can open larger positions with smaller amounts of funds High leverage requires responsible risk management to avoid significant losses
Leverage can offer more trading opportunities and flexibility Overuse of leverage can lead to overtrading and emotional decision making

MTrading offers a maximum leverage of up to 1:1000, which is significantly higher than what is typically offered by regulated brokers. While high leverage can offer traders the potential for higher profits with smaller amounts of funds, it can also magnify losses and increase the risk of losing capital. Traders must exercise responsible risk management and avoid overuse of leverage to avoid significant losses. High leverage can offer more trading opportunities and flexibility, but it also requires careful monitoring of positions and market movements. It is important for traders to have a solid understanding of leverage and its potential risks before using it in their trading strategy.

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
Flexible deposit and withdrawal options Limited options for certain regions
Variety of electronic payment systems, bank cards, and wire transfer options Some deposit and withdrawal methods may incur additional fees
Convenient and fast processing time for deposits and withdrawals Withdrawals may take longer for certain payment methods or in some cases due to regulatory requirements

MTrading offers a wide range of flexible and convenient ways to deposit and withdraw funds. Clients can choose from a variety of electronic payment systems, bank cards, and wire transfer options to make deposits or withdrawals. The processing time for deposits is fast, and the withdrawal processing time depends on the payment method used, with some methods taking longer than others. However, there may be additional fees for certain deposit and withdrawal methods, and some regions may have limited options available. Overall, MTrading provides its clients with a convenient and reliable service for managing their funds.

deposit and withdrawal

Educational resources in MTrading

Advantages Disadvantages
Comprehensive educational resources No live webinars or educational courses
Free access to articles, news, and technical analysis Limited resources for beginner traders
Educational resources updated regularly Limited video resources

MTrading provides a range of educational resources to help traders stay informed and improve their trading skills. The company offers free access to articles, news, and technical analysis, providing a comprehensive overview of the latest trends and market conditions. These resources are updated regularly to ensure traders are always up to date with the latest developments in the financial markets. However, MTrading doesn't offer live webinars or educational courses, which may limit the opportunities for beginner traders to learn and improve their skills. Additionally, the company has limited video resources, which may also be a disadvantage for some traders. Overall, the educational resources offered by MTrading are comprehensive and up to date, providing valuable insights and analysis for traders looking to stay informed and make informed trading decisions.

educational resources

Copy trading

Advantages Disadvantages
Can be a time saver for beginner traders May result in blindly following a strategy without understanding its rationale
Allows access to experienced traders strategies and trades Copy trading fees can be expensive and add up over time
Reduces emotional trading by removing the need for constant decision making Copy trading performance is highly dependent on the performance of the trader being copied
Can be customized to fit individual risk preferences Not all traders are available for copy trading
No need for extensive market knowledge Copy trading may not be suitable for all trading styles and preferences

MTrading offers the copy trading feature, which allows traders to automatically replicate the trades of experienced traders on the platform. This feature can be beneficial for beginner traders who lack the necessary skills and knowledge to make profitable trades independently. Copy trading can be customized to fit individual risk preferences and can reduce emotional trading by removing the need for constant decision making. However, copy trading comes with its own set of disadvantages, such as blindly following a strategy without understanding its rationale, copy trading fees that can add up over time, and copy trading performance being highly dependent on the performance of the trader being copied. Therefore, traders need to carefully consider the pros and cons of copy trading before deciding to use this feature.

copytrading

Customer service of MTrading

Advantages Disadvantages
Comprehensive FAQ section Limited customer service channels
Efficient social media presence Response time may be slow due to high volume of inquiries
Online chat available for assistance Limited availability for personalized support

There are only a few social media accounts, an online chat button, and an extensive FAQ section available for customer care on MTrading. While the FAQ section is detailed and informative, the lack of multiple contact options may not be enough for some clients who require immediate assistance. The support team's response time may be slow due to the large volume of requests.

customer support

Conclusion

MTrading appears to be a reputable online broker that offers a wide range of trading instruments, flexible account types, and platforms suitable for both novice and experienced traders. The company also provides various educational resources such as articles, news, and technical analysis to assist traders in making informed decisions. The leverage offered by MTrading is also high, up to 1:1000, allowing traders to increase their potential profits. However, the lack of transparency regarding its regulation status and the limited customer support channels may be a concern for some traders. Overall, MTrading seems to be a good option for traders seeking a diverse range of trading options and educational resources.

Frequently asked questions about MTrading

  • Is MTrading a regulated broker?

  • No, MTrading is not regulated by any financial authority. However, it is registered in Saint Kitts and Nevis.

  • What is the minimum deposit to open an account with MTrading?

  • The minimum deposit for M.Cent account is only $10, for M.Premium account is $100 and for M.Pro account is $500.

  • What trading platforms are available at MTrading?

  • MTrading offers MetaTrader 4 (MT4) and its own mobile application for trading.

  • Does MTrading offer copy trading?

  • Yes, MTrading provides copy trading for its clients.

  • How can I deposit and withdraw funds with MTrading?

  • MTrading provides a variety of electronic payment systems, bank cards, and wire transfer options for deposit and withdrawal of funds. The company also allows internal transfers between accounts of its clients.

frequently asked questions
gmi-edge

Risk Warning

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.

Feature Information
Registered Country/Region Vanuatu
Found 2018
Regulation Suspicious clone
Market Instrument Gold, oil, Silver, forex and indices
Account Type Cent, Standard, Standard Bonus and ECN
Demo Account yes
Maximum Leverage 1:2000
Spread (EUR/USD) Above 2 pips
Commission Vary on the account type
Trading Platform MT4 for Windows, MacOS, Android and Web
Minimum Deposit $15
Deposit & Withdrawal Method Local Banks Transfer, Neteller and Skrill

Overview of GMI Edge

Founded in 2018, GMI Edge is an offshore trading broker that provides online trading via MetaTrader4 (MT4) on a variety of different asset classes including forex, indices, precious metals, energies and CFDs. GMI Edge is the trading name of Global Prime Limited, a regulated and licensed dealer in securities by the Vanuatu Financial Services Commission (VFSC, suspicious clone), with regulatory license number: 14647. GMI Edge is part of the GMI Group of companies. The GMI brand was established in 2009.

Traders can access leverage ratios ranging from 1:500 to 1:2000, depending on the account type. However, explicit information about spreads is not readily available on the GMI Edge website. The broker offers the popular MetaTrader 4 (MT4) trading platform, which allows traders to customize their strategies, utilize expert advisors, and access a wide range of analytical tools. GMI Edge also provides the Multi-Account Manager (MAM) platform for money managers to trade multiple accounts.

Deposits and withdrawals can be made through various methods, including local bank transfers, Neteller, and Skrill. The minimum deposit requirement varies based on the chosen method. GMI Edge has a mobile app for convenient account management and trading on the go. However, customer support contact information is limited to email and live chat, with no disclosed telephone numbers or company address.

Considering the lack of regulatory oversight and transparency, it is advisable for traders to approach GMI Edge with caution and consider alternative brokers with a solid regulatory status and more transparent operations.

Here is the home page of this brokers official site:

home page

Pros and Cons

GMI Edge has both advantages and disadvantages that traders should consider. One of the pros is the availability of a wide range of market instruments, including commodities, major currency pairs, and indices, providing traders with diverse trading opportunities. Additionally, the broker offers different types of trading accounts with varying leverage options, catering to the individual preferences and risk tolerance of traders. The provision of the popular MetaTrader 4 (MT4) platform and the additional Multi-Account Manager (MAM) platform for money managers enhance the trading experience. Furthermore, GMI Edge provides a mobile app for convenient account management and trading on the go.

On the downside, GMI Edge lacks proper regulatory oversight, as it is not regulated by a recognized financial regulatory authority. The claimed regulatory license from the Vanuatu Financial Services Commission (VFSC) is suspicious and not considered valid, which raises concerns about the level of investor protection and oversight provided by the broker. Moreover, the broker does not disclose explicit information about spreads, which makes it difficult for traders to assess the trading costs upfront. Limited customer support options, with only email and live chat available and no disclosed telephone numbers or company address, can also be a drawback for some traders.

Pros Cons
Wide range of market instruments Lack of proper regulatory oversight
Different types of trading accounts Suspicious and questionable regulatory license
Variety of leverage options Lack of transparency regarding spreads
Availability of MetaTrader 4 (MT4) platform Limited customer support options
Additional Multi-Account Manager (MAM) platform No disclosed telephone numbers or company address
Mobile app for account management

Is GMI Edge Legit?

GMI Edge is not regulated by a recognized financial regulatory authority. The claimed regulation by the Vanuatu Financial Services Commission (VFSC) with license number 14647 is suspected to be a clone and is not considered valid. The VFSC is an offshore regulatory body, and trading with an unregulated broker carries significant risks. It is important to note that unregulated brokers may not provide the same level of investor protection and oversight as regulated brokers. Therefore, it is advisable to exercise caution and consider alternative regulated brokers with a solid regulatory status when choosing a trading partner.

regulation

Market Instruments

GMI Edge offers a selection of market instruments for trading. These instruments include:

1. Gold, Oil, Silver: Traders have the opportunity to trade in commodities such as Gold, Oil, and Silver. These instruments are available for trading 23 hours a day, and GMI Edge aims to provide competitive costs in this regard.

2. Forex: GMI Edge enables traders to participate in the foreign exchange market. Major currency pairs such as the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Australian Dollar, and Canadian Dollar are available for trading. GMI Edge offers high leverage and the option of Swap Free accounts.

3. Indices: GMI Edge allows traders to access global financial markets through Contracts for Difference (CFDs) on various indices. Some of the indices available for trading include Dow Jones, NASDAQ, S&P, FTSE, DAX, CAC, NIKKEI, Hang Seng, and China A50.

market-instruments
Pros Cons
Wide selection of commodities, including Gold, Oil, and Silver Lack of transparency regarding trading costs
Availability of major currency pairs for forex trading Limited information about spreads
Access to global financial markets through various indices
Opportunity to trade 23 hours a day

Account Types

GMI Edge offers four different types of trading accounts: ECN, Cent, Standard, and Standard Bonus. Each account type has its own minimum deposit requirement, contract size, leverage options, and other features.

ECN ACCOUNT

The ECN account requires a minimum deposit of $100 and offers leverage up to 1:500. It has a commission fee of $4 per lot and allows for a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The ECN account does not offer a swap-free option.

CENT ACCOUNT

The Cent account has a minimum deposit requirement of $15 and provides leverage up to 1:1000. It does not charge any commission and allows a maximum order size of 200 lots on MT4. The Cent account also offers a swap-free option.

STANDARD ACCOUNT

The Standard account requires a minimum deposit of $25 and offers leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The Standard account does not provide a swap-free option.

STANDARD BONUS ACCOUNT

The Standard Bonus account also requires a minimum deposit of $25 and provides leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4. The Standard Bonus account does not offer a swap-free option.

Traders should carefully consider their trading preferences and risk tolerance when choosing the most suitable account type for their needs.

account-types
Pros Cons
Multiple account options with varying features Lack of a dedicated swap-free option for all account types
Different leverage options to suit individual preferences Commission fee of $4 per lot for ECN account
Low minimum deposit requirement for Cent account Limited maximum order size for Cent account (200 lots)
No commission charges for Standard and Standard Bonus accounts Lack of swap-free option for Standard and Standard Bonus accounts
High leverage of up to 1:2000 available for Standard and Standard Bonus accounts Limited maximum order size for Standard and Standard Bonus accounts (500 lots on MT4 and 1,000 lots on GMI Edge)
Variety of account types cater to different risk tolerances and trading preferences

Leverage

The specified leverage for different account types at GMI Edge varies between 1:500 and 1:2000. Clients on the Cent account can experience leverage of 1:1000, the Standard and Standard Bonus accounts can enjoy the maximum leverage of 1:2000, while the ECN accounts have a leverage ratio of 1:500.

Keep in mind that using leverage ratios that high is very dangerous, especially for inexperienced traders. Margin trading is risky, so make sure you understand how leverage works before you lose everything.

Spreads & Commissions

Unlike most decent brokers who present their pricing and trading conditions, GMI Edge has not disclosed its spreads on the website. So, we had to register a demo account to see the trading costs with this broker. The benchmark EUR/USD spread of GMI Edge is well above 2 pips, which is not competitive pricing.

As for the commission, there is no commission on the Cent, Standard and Standard Bonus accounts, while 4 per lot on the ECN account.

Trading Platform

GMI Edge provides its traders with the popular MetaTrader 4 (MT4) trading platform. This widely recognized platform is available for all types of GMI Edge accounts. Traders can take advantage of the features and functionality offered by MT4 to enhance their trading experience.

MT4

With MT4, traders have the option to create their own algorithms or utilize expert advisors (EAs) to automate their trades. This allows for customized trading strategies and the ability to follow other traders. Traders can seamlessly connect to the trading platform through the GMI Edge app, ensuring a smooth trading experience across different devices. The GMI Edge app also provides a convenient way to fund trading accounts that use MT4.

MT4 offers a comprehensive range of analytical tools that traders can utilize to analyze various aspects of the markets they trade. These tools enable traders to perform in-depth market analysis and make informed trading decisions.

Multi-Account Manager (MAM) platform.

In addition to MT4, GMI Edge also offers the Multi-Account Manager (MAM) platform. This platform is designed for money managers who wish to trade multiple accounts with ease. With MAM, money managers can execute trades across multiple accounts with just one click. The platform also allows for automated performance fees billing and offers trade allocation options based on lot size, equity, or balance.

GMI Edge mobile app

To further enhance accessibility and convenience, GMI Edge has developed the GMI Edge mobile app. This app allows traders to access their trading accounts anytime and anywhere. Traders can trade various instruments including forex, gold, silver, and indices, among others, using the app. The GMI Edge app also offers easy ways to deposit, withdraw, and transfer funds, providing traders with comprehensive account management capabilities in one place.

trading-platform
Pros Cons
Availability of popular MetaTrader 4 (MT4) platform Potential learning curve for beginners
Ability to create custom algorithms and use expert advisors (EAs) Limited to MT4 platform, no alternative platforms offered
Seamless trading experience across different devices through GMI Edge app Mobile app may have limited functionality compared to desktop version
Comprehensive range of analytical tools for market analysis Lack of advanced features compared to other platforms
Multi-Account Manager (MAM) platform for easy management of multiple accounts Limited information available on MAM platform features and capabilities

Deposit & Withdrawal

GMI Edge provides various options for depositing and withdrawing funds from your trading account. These options include Local Banks Transfer, Neteller, and Skrill. The minimum initial deposit requirement is $10 for Neteller and Skrill, while it is $15 for Local Banks Transfer.

The deposit processing time is typically instant, allowing you to quickly start trading after funding your account.

deposit-withdrawal

For withdrawals, the minimum withdrawal amount is 50 MYR for bank transfers, and the processing time is between 8am to 6pm daily. There is a 4% fee for withdrawals via Neteller and Skrill, with a minimum withdrawal amount of $10. Withdrawals made through these methods are also processed instantly.

deposit-withdrawal
Pros Cons
Various deposit and withdrawal options Minimum withdrawal amount for bank transfers
Instant deposit processing time 4% fee for withdrawals via Neteller and Skrill
Minimum initial deposit requirement of $10 for Neteller and Skrill Withdrawal processing time limited to specific hours
Instant withdrawals via Neteller and Skrill
Minimum withdrawal amount of $10 for Neteller and Skrill

GMI Edge provides customer support through various channels. Traders can reach out to their customer support team via email at cs.global@gmimarkets.com. Additionally, a live chat option is available for immediate assistance. For those who prefer to send a direct message, an online contact form is provided. However, it is worth noting that GMI Edge does not disclose additional contact information such as telephone numbers or a company address, which is commonly shared by more transparent brokers.

customer-support

Conclusion

In conclusion, GMI Edge is an unregulated broker with a suspicious regulatory license and is not considered a legitimate trading option. Trading with an unregulated broker carries significant risks, as they may lack investor protection and oversight. Although GMI Edge offers a variety of market instruments and different types of trading accounts with varying leverage options, their lack of transparency regarding spreads and trading conditions is a disadvantage. Additionally, the absence of a recognized financial regulatory authority and limited customer support contact information further raise concerns. Traders are advised to exercise caution and consider alternative regulated brokers with a solid regulatory status and transparent practices when choosing a trading partner.

Frequently Asked Questions (FAQs)

Q 1: Is GMI Edge regulated?
A 1: No. GMI Edge holds a suspicious clone Vanuatu Financial Services Commission (VFSC) license.
Q 2: At GMI Edge, are there any regional restrictions for traders?
A 2: Yes. GMI Edge does not accept clients from the United Kingdom and the United States among other countries.
Q 3: Does GMI Edge offer demo accounts?
A 3: Yes.
Q 4: Does GMI Edge offer the industry-standard MT4 & MT5?
A 4: Yes. GMI Edge supports MT4.
Q 5: What is the minimum deposit for GMI Edge
A 5: The minimum initial deposit to open an account is $15.
Q 6: Is GMI Edgea good broker for beginners?
A 6: No. GMI Edge is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations. Take care!

Are the transaction costs and expenses of mtrading, gmi-edge lower?

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 mtrading and gmi-edge are, we first considered common fees for standard accounts. On mtrading, the average spread for the EUR/USD currency pair is From 1 pips, while on gmi-edge the spread is --.

Which broker between mtrading, gmi-edge is safer?

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.

mtrading is regulated by NFA. gmi-edge is regulated by VFSC.

Which broker between mtrading, gmi-edge provides better trading platform?

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.

mtrading provides trading platform including M.Premium,M.Pro and trading variety including Currencies - 38;Spot Metal CFDs - 4;Spot Energy CFDs - 3;Cash Index CFDs - 10;Stock CFDs - 67. gmi-edge provides trading platform including Standard (Bonus),ECN,Cent,Standard and trading variety including --.

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