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GMI Edge

Vanuatu|5-10 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://gmiedge.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

GMIEdge-Demo01

United States
MT4
6

Influence

D

Influence index NO.1

Thailand 2.62

MT4/5 Identification

MT4/5 Identification

White Label

6
Server Name
GMIEdge-Demo01 MT4
Server Location United States

Influence

Influence

D

Influence index NO.1

Thailand 2.62

Surpassed 100.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

1800 282260
cs.id@gmiedge.com
https://gmiedge.com/

Licenses

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

Single Core

1G

40G

Open Now

Disclosure

Danger

MY SCM
2021-01-01

Contact number

English

1800 282260

Indonesian

+62-21-27899836

Thai

1800 012648

Broker Information

More

Company Name

Global Prime Limited

Company Abbreviation

GMI Edge

Platform registered country and region

Vanuatu

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-02-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The VanuatuVFSC regulation (license number: 14647) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

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Total Margin Trend

  • VPS Region
  • User
  • Products
  • Closing time
  • BeiJing
  • 180***
  • EURUSD.
  • 01-02 15:00:00
  • Washington
  • 852***
  • EURUSD.
  • 01-02 15:00:00
  • London
  • 351***
  • EURUSD.
  • 01-02 15:00:00

Stop Out

1.03%

Stop Out Symbol Distribution

6 months

Sources

GMI Edge · Company Summary

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!

News

 Its a gold giveaway

News Its a gold giveaway

2021-12-16 17:43

This document sets out the rules for this Lucky Draw. Make sure you read them carefully and understand them all before you enter the Lucky Draw.

WikiFX
2021-12-16 17:43
News
 Its a gold giveaway

User Reviews

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若愚35455
more than one year
Trading platform extremely unstable, I cannot log into my mt4 trading platform frequently. I also found their staff know nothing about forex trading and regulations. That’s weird, and I decided to investigate its background.
2023-02-27 11:42
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那雷(外汇经纪人)
more than one year
This GMI EDGE does not hold any license to support its operation! I was almost defrauded by it, but a friend told me this one is fake, dramatic, right? Beware, anyway.
2023-02-16 18:00
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0
0
FFMC纽扣车行长沙站-阿亮
more than one year
I read on wikifx that this company has very slow transactions. In the foreign exchange industry, this shortcoming can be said to be fatal. And its regulatory license is still a clone, I will never trade with it.
2022-12-16 18:53
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