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GDMFX

New Zealand|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.gdmforex.com/

Website

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Contact

(+64) 9951 8201
customersupport@gdmfx.com
https://www.gdmforex.com/
https://www.facebook.com/GDMFXcom

Licenses

No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

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Contact number

English

(+64) 9951 8201

Broker Information

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Company Name

Global Derivative Capital Markets NZ Limited.

Company Abbreviation

GDMFX

Platform registered country and region

New Zealand

Company website
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Warning: Low score, please stay away!
Previous Detection : 2024-02-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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GDMFX · Company Summary

GENERAL INFORMATION AND REGULATION

GDMFX is registered as a Financial Service Provider (FSP) in New Zealand and an Authorized Representative in Australia. GDMFX is an STP broker and offers financial securities in Forex, precious metals, energy, and commodities. GDMFX maintains offices in Indonesia, India, Hong Kong and China.

Global Derivative Capital Markets NZ Limited is a global broker providing online currency trading services, which operates under the brand name GDM FX. The broker claims its international trading services and tailored solutions while supports numerous languages that include English, Arabic, Chinese, Spanish, Russian, Turkish, Indonesian and more. From our research it revealed, that the company located in NZ but do not offer its services within New Zealand, as simply there is no license to do so from the local authority. And therefore makes the broker unregulated

MARKET INSTRUMENT

GDMFX offers 36 different Forex currency pairs and several indices as trading instruments. Also Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

TRADE SIZE

GDMFX allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. GDMFX allow you to execute a maxium trade of 1,000 Lot.

ACCOUNT AND LEVERAGE

GDMFX offers four types of accounts: Standard, Blade, Elite and the invitational-only Prime account. Minimum deposits for these are $100, $1000 and $10,000 respectively. Swap-free trading accounts are also available for those traders who adhere to the Islamic law (Sharia). With the swap-free account, there are no interest charges or roll-over fees when traders extend trades to the next day. Accordingly, there will not be any interest earned by the client.

Demo accounts are also available for traders just starting out in the market.

GDMFX trades 36 currency pairs and several popular indices and provides leverage up to 1:500 depending on the account type. Fixed spreads are used for the Standard account; variable spreads for the ECN Blade, Elite and Prime accounts.

GDMFX allows a maximum leverage ratio of 1:500.

The amount of leverage is expressed as a ratio, for instance, 50:1, 200:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 200 000 USD/JPY, that leverage will equate to 200:1.

Leveraged product trading magnifies a traders potential profit – but of course, also increases the potential loss. This facility enables traders to get a larger exposure to the market than the amount they deposited to open a trade.

SPREADS AND COMMISSIONS

GDMFX does not charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have. Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

TRADING PLATFORM AVAILABLE

GDMFX offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

GDMFX also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while youre on the move

DEPOSIT AND WITHDRAWAL

The following methods can be used to fund accounts or make withdrawals:

• Bank wire transfer

• Visa

• Mastercard

• Skrill

• Swift

• Neteller

• Bitcoin

• Local Deposits

Deposits are free of any charge, and if a deposit is made in a different currency from the denomination currency of the customers account, it will be automatically be converted.

All Withdrawals are subject to a fee of 1%. It is not indicated how long it takes before funds reflect in the traders accounts.

CUSTOMER SERVICE

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.

GDMFX offers customer support in real-time by telephone or email 24/7. The live chat option is not available. It also offers support through SMS and Skype.GDMFX support a wide range of languages including English, Russian, Turkish, Chinies, Malay, Indonesian.

User Reviews

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GanForstrun 0001
more than one year
But the worst part was their customer service. They were so slow to respond, especially when it came to technical issues. I'm not sure they even know what they're doing half the time.
2023-04-04 09:38
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SHARK123
more than one year
I tried out gdmfx because the minimum deposit was only $100, which is pretty reasonable compared to some other brokers. I traded on their MT4 platform for a while, but man, it was a pain. The platform kept freezing up and I had trouble logging in to my account sometimes. Super annoying. On top of that, the spreads for major currency pairs were higher than what I was used to, and they charged high fees for trades. Not cool.
2023-04-03 18:35
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FX1267872407
more than one year
GDMFX's company website is no longer open, but I didn't find anyone saying that they were cheated. Maybe it's been around for too short a time to find a victim to scam.
2023-02-22 11:25
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