EGM Securities Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of EGM Securities trading signals. You will learn what kinds of trading signals EGM Securities offers and what the conditions for using them are.
Short introduction of EGM Securities
EGM Securities (EGMSecurities) is an STP, NDD, and ECN broker that is part of the International Equity Group of companies. It offers trading in five asset classes (currency pairs, ETFs, CFDs on stock indices, stocks, and commodities) through the classic MT4 terminal, as well as the MAM system for passive investing. The company is headquartered in Nairobi and is licensed by the Kenyan government regulator Capital Markets Authority (CMA, 107). According to the World Economic Magazine Awards, EGM Securities was named Best Forex Broker Kenya in 2021.
| 💰 Account currency: | USD, AED, KES |
| 🚀 Minimum deposit: | From USD 15 |
| ⚖️ Leverage: | Up to 1:400 for currency pairs and precious metals; 1:200 for CFDs and 1:20 for shares |
| 💱 Spread: | From 1.6 pips (Executive), from 0.2 pips (Premiere) |
| 🔧 Instruments: | Currency pairs (62), CFDs on stocks (240), indices (37), metals (6), and ETFs |
| 💹 Margin Call / Stop Out: | Stop out: 30% |
EGM Securities Pros and Cons
👍 Advantages of trading with EGM Securities:
•Licensed by the state regulator of Kenya.
•Execution of orders using Non-dealing Desk technology, which eliminates a conflict of interest between the broker and its clients.
•The available minimum deposit is USD15 or 100, depending on the type of account.
•A wide range of assets (over 300), high leverage (up to 1:400 for trades with currency pairs and metals).
•No restrictions on the use of automated expert advisors.
•Tight floating spreads on all account types.
•Ability to open a demo or swap-free Islamic account.
👎 Disadvantages of EGM Securities:
•The broker does not offer any bonuses to its clients.
•There is no affiliate program for retail traders. The Company pays fees only to IBs (Introducing Brokers).
•There are no cent accounts in the line of available trading accounts.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
EGM Securities Trading Signals
A detailed study of the conditions of EGM Securities showed that for trading with an Executive Account, the broker maintains floats from 1.6 pips for each spread. On the Premiere Account, in addition to the spread from 0.2 pips, a commission of $7 or $10 per lot is also charged, depending on the class of the traded asset. Clients do not pay the broker a commission for replenishing or maintaining an account. Withdrawals to a bank in Kenya and withdrawals via mobile payments are also free. For a transfer to electronic wallets, the trader gives the system 1% of the transaction amount, but not more than $30 or its equivalent. For an international bank transfer, the client pays $15.
| Account type | Spread (minimum value) | Withdrawal commission |
| Executive Account | From $16 | Available for international wire transfer and EPS withdrawals |
| Premiere Account | From $2 | Available for international wire transfer and EPS withdrawals |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that EGM Securities does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
Can trading signals be provided for free?
Brokers may offer free and paid trading signals.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.