GMI Forex Broker

GMI Review SummaryFounded2009RegisteredSaint LuciaRegulationFCAMarket InstrumentsGold, silver, crude oil, forex, indexDemo Account✅($10,000 in virtual funds)Islamic Account❌Account TypeECN, Cent, Standard, Standard BonusMinimum Deposit15 USDLeverageUp to 1:2000SpreadFrom 0.0 pipsTrading PlatformMT4, MT5, GMI EDGESocial/Copy Trading✅Payment MethodsNeteller, Skrill, etc. (vary by the region)Customer Support24/5 multilingual - live chat, contact formEmail: cs@gmimarkets.comRegional RestrictionsThe USA, EUGMI Information GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and registered in Saint Lucia. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including gold, oil, silver, forex, indices, and stock CFDs via the MT4, MT5 and GMI Edge platforms. Pros & ConsProsCons• Regulated by FCA• Clients from the USA and EU are not accepted• Wide range of account types• Limited educational resources• Low minimum deposit requirement (15 USD)• Limited research and analysis tools• Commission-free trading• MT4 and MT5 trading platforms• Copy trading feature supportedIs GMI Legit? GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA) in the United Kingdom with license no.677530, which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk.Market Instruments GMI offers popular markets across different asset classes, including gold, oil, silver, forex, indices, and stock CFDs. Other assets like cryptocurrencies, bonds, options, and ETFs are not available.Tradable AssetsSupportedGold✔Oil✔Silver✔Forex✔Indices✔Stock CFDs✔Cryptocurrencies❌Bonds❌Options❌ETFs❌ Account Types GMI offers four types of accounts, ECN, Cent, Standard, and Standard Bonus, with a minimum deposit requirement of 15 USD. GMI Account Type Features ComparisonAccount TypeECNCentStandardStandard BonusSuitable forProfessional tradersBeginnersAll levelsPromotionsMinimum Deposit100 USD15 USD25 USD25 USDMax. Leverage1:5001:10001:2000Commission$4 per lot❌Contract Size100,0001,000100,000100,000Max. Lot per Trade5015050Max. Order (MT4 - MT5)500200500Max. Order (GMI Edge)1000Expert Advisor✅Swap Free✅Leverage GMI offers different maximum leverage ratios for different account types.Account TypeMaximum LeverageECN1:500Cent1:1000Standard1:2000Standard Bonus It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads & Commissions The ECN account charges a commission fee of $4 per lot, while the other accounts do not charge commissions. GMI offers very low spreads, starting from 0.0. Below are the specific spreads for different trading instruments.InstrumentSpread (from)Trading TimeEURUSD0.0 pipsMonday-Friday : 00:05-24:00USDJPYGBPUSDEURGBPEURJPYXAUUSDMonday-Friday : 01:00-24:00XAGUSD0.1 pipsUSOUSD1.2 pipsUKOUSD1.4 pipsMonday-Friday : 03:00-24:00XNGUSD0.3 pipsMonday-Friday : 01:00-24:00XAUEUR0.1 pipsXAGEUR0.8 pipsU30USD1.6 pipsSPXUSD5.1 pipsNASUSD0.9 pipsD40EUR0.6 pips100GBP0.9 pipsF40EUR1.0 pipsHSIHKD3.6 pipsCHN50U6.0 pipsUS Shares0.01 pipsMonday-Friday: 16:30-22:59:50HK Shares0.01 PipsMorning: 4:30-7:00, Afternoon: 8:00-11:00 Trading Platforms GMI offers its clients three choices of trading platforms, the popular MetaTrader 4, MetaTrader 5, and its proprietary GMI EDGE. Both MT4 and MT5 are equipped with a variety of tools and features for technical analysis, order management, and customization. They also support automated trading with the use of Expert Advisors (EAs). GMI EDGE can be downloaded through Android and Web devices. Copy Trading GMI offers copy trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's copy trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.FAQs Is GMI regulated? Yes. GMI operates legally, and it is regulated by FCA in the UK. Does GMI offer demo accounts? Yes. GMI offers demo accounts with $10,000 virtual capital. Does GMI offer industry-standard MT4 & MT5? Yes. Both MT4 and MT5 are available. What is the minimum deposit for GMI? 15 USD. Is GMI a good broker for beginners? Yes. Overall GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money.Risk Warning Online trading carries substantial risk, potentially leading to the total loss of invested funds.