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FXGM is a brand name of Depaho Ltd., a Cyprus-based investment company founded in 2011. In Europe, Depaho Ltd. is regulated by the Cyprus Security and Exchange Commission (CySEC). The company's headquarters are located in Nicosia, Cyprus.
The broker offers its clients the opportunity to trade Forex, commodities and CFDs on major stocks via the trading platform called PROfit. FXGM pays great attention to the training section designed to provide novice investors with knowledge of basic trading terms and concepts as well as strategies and financial analysis. Regardless of a trader’s experience, FXGM offers a wide array of trading instruments and opportunities.
Trading conditions
FXGM clients can trade different financial products, including gold (spot), silver (spot) and oil (futures), as well as major currency pairs. On the official website, you can find necessary trading tools such as an economic calendar, SMS services, market overview, and forex charts.
FXGM gives traders a choice of two account options: Professional and Retail. The professional account is intended for investors who want to trade with a higher leverage and 0% margin close-out. This account is suitable for those traders who have the experience, knowledge, and capability to make their own investment decisions and understand the risks involved. Retail clients are considered beginners. Therefore, FXGM points out that the first 10 deals of novice retail traders will be protected. If the first ten deals of the trader will be loss-making, the company will refund the money.
Trading platform
FXGM gives its clients access to PROfit trading platform that is available for mobile and desktop versions. PROfit is a user-friendly advanced platform suitable for traders with a different experience.
Support service
After the registration, each FXGM client is assigned to a personal manager whose task is to give information about the platform and offer support if necessary. The manager also provides market updates, news, and crucial information about financial markets. What is more, on the broker's website, you can find a live chat button and an email address.
Deposit and withdrawal of funds
FXGM offers the most popular and affordable payment methods with a minimum deposit of 200 EUR.
Customers can choose between five methods to top up their account:
- international credit cards-instant payment
- international debit cards-instant payment
- wire transfer – it may take up to 5 days from the moment of making the transfer request
- Skrill.com – instant payment
Feedback
On the Internet, we found many laudatory reviews. Besides, the broker quite often receives 5 points out of 5. Nevertheless, it is difficult to say how objective this information is. However, some people left negative comments about cooperation with the broker. There is also information that less than 10 years ago, FXGM broker worked under a different name-BForex. The reorganization and the change of its brand name raise a great deal of questions and concerns.
Advantages and disadvantages of the company:
Pros:
- regulated broker
- a wide array of ways to withdraw and deposit funds
- personal manager
- fixed spreads
Cons:
- lack of demo account
- no bonus programs
- negative comments from traders
Conclusion
Thus, we cannot definitely say that FXGM is a reliable broker and recommend the company for cooperation. At the same time, the information about trading conditions presented on the company's website is very attractive. We advise you to study carefully the trading conditions and reviews of traders before giving someone your money.
