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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints!

FXGM

Cyprus|5-10 years|
MT4 Full License|Regional Brokers|Spain Retail Forex License Revoked|Suspicious Overrun|High potential risk|

http://www.fxgm.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

FXGlobalMarketsFXGM-TNDemo

Switzerland
MT4
2

Influence

D

Influence index NO.1

United States 2.66
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
FXGlobalMarketsFXGM-TNDemo MT4
Server Location Switzerland

Influence

Influence

D

Influence index NO.1

United States 2.66

Surpassed 30.24% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+357 22 030 082
info@fxgm.com
http://www.fxgm.com/
Artemisia Business Centre, 14 Charalambou Mouskou, 2nd Floor, Office 201, 2014 Nicosia, Cyprus.
Warning: Low score, please stay away! 9
Previous Detection : 2024-05-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 16 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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Expose

    FXGM · Company Summary

    General Information & Regulation

    FXGM is the trademark name of Depaho Ltd, which provides CFD trading services on foreign exchange, commodities, and stocks for retail and professional clients worldwide. Depaho Ltd holds licenses authorized by several regulatory bodies, such as the full license of Cyprus CySEC (license number 161/11), the retail foreign exchange license of Germany BaFin (license number 130520), the retail forex license of the BDF in French, the EU authorization license of the FCA of the UK (license number: 593528), the financial services enterprise license of the FSCA of South Africa (license number: 47709), and the retail foreign exchange license of the CNMV of Spain (license number: 3321), and the retail forex license of CONSOB of Italy (license number 3567)

    Market Instruments

    FXGM provides investors with a wide range of trading assets, mainly foreign exchange currency pairs, commodities, precious metals (gold & silver), indices, ETFs, cryptocurrencies, and stocks.

    Minimum Deposit

    Nine forex trading accounts are available on FXGM platform: the Basic, Discovery and the Silver. The minimum initial deposit to start a basic account is $200, quite reasonable compared with most brokers.

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    Leverage

    The leverage of foreign exchange currency pairs, gold, silver, and oil in professional accounts is 1:200, the leverage of the remaining commodities is 1:100, the leverage of index CFDs is 1:100, and the leverage of single stock CFDs and exchange-traded funds is 1:10. Compared with professional accounts, the leverage of retail accounts is obviously much more conservative. For example, the leverage of major currency pairs is 1:30, 1:20 for gold and major indices, and 1:5 for single stocks and ETFs.

    Spread & Commissions

    The spread for EURUSD on the FXGM platform is 4 pips, gold 1 pip, silver 0.06 pips, Brent oil is 0.12 pips, the spread of ADX General is 20 pips, ASX200 4 pips, CAC40 4 pips, BitUSD 1300 pips, Ether 48 pips, Adidas stock 1.5 pips, ABB stock 1.5 pips.

    Trading Platform

    Instead of the most popular MT4/MT trading platform in the market, FXGM provides traders with WebPROfit and Mobile PROfit. WebPROfit is compatible with all major browsers, including Chrome, Firefox, IE, and many others, and investors can trade foreign exchange, commodities, and CFDs without downloading. Mobile PROfit, on the other hand, allows traders to access WebPROfit via cell phones and tablets.

    Deposit and Withdrawal

    FXGM supports traders to deposit and withdraw funds to and from their investment accounts through a series of convenient payment methods, such as VISA/MasterCard/Maestro credit/debit cards, wire transfer, Skrill, Neteller, PayPal, RAPID Transfer, MyBank, etc.

    Trading Hours

    The FXGM site is available to traders 24/7. The trading hours for each asset are given on the broker product sheet and depend on the market. For example, forex runs 24 hours a day from Sunday at 9 pm to Friday at 9 pm (GMT).

    Accepted Regions

    FXGM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use FXGM from United States, Canada, Belgium, Iran.

    User Reviews

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    User comment

    7

    Comments

    Write a review

    majk majk
    6-12months
    Fraud.
    2023-10-13 20:00
    Reply
    0
    1
    lllll
    more than one year
    All of FXGM's regulatory licenses have lapsed and it has received many complaints. When I opened their website, I found that the website seemed to be down. I can't scroll.
    2023-02-20 18:36
    Reply
    0
    0
    FX1240953418
    more than one year
    I just got confused by so many forex scammers, some of which are really hard to identify. FXGM is an example, without wikifx, I guess I will never be able to find out that it's actually a scammer.
    2023-02-16 09:58
    Reply
    0
    0
    FX1200429457
    more than one year
    It is nothing more than one such fraudulent forex broker. please don't be fooled by the incredibly favorable conditions and always keep an eye out to protect your money.
    2023-02-13 15:40
    Reply
    0
    0
    FX1078135364
    more than one year
    At first they lured me in with various conditions, allowing me to invest and promising me high returns and bonuses. But after I made a deposit, the company's attitude changed drastically and they ignored me. Now that I want to withdraw money, they reject me for various reasons and find fault with me.
    2022-11-30 14:47
    Reply
    0
    0
    请叫我李先生
    more than one year
    This is a scam company! Everything advertised on their website is unbelievable! Don't be cheated! There is no way to make money trading here, and the money you put in will be stolen by them!
    2022-11-28 09:46
    Reply
    0
    0
    hy
    more than one year
    I did a trade with the GBP/USD pair and made a profit of $200, but they took it away because they said I broke the rules. This is a scam. My real money won't be withdrawn until a certain time, and then it won't be.
    2022-11-27 09:50
    Reply
    0
    0
    17
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