GMI Markets Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $15
- MetaTrader4
- GMI EDGE
- MAM
- FSC Mauritius
- 2021
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $15
- MetaTrader4
- GMI EDGE
- MAM
- FSC Mauritius
- 2021
Our Evaluation of GMI Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
GMI Markets is a broker with higher-than-average risk and the TU Overall Score of 3.46 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by GMI Markets clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
GMI Markets strives to take into account the interests of both experienced and novice traders, therefore it offers various account types and dynamic leverage.
Brief Look at GMI Markets
GMI Markets is an STP (straight-through process) and ECN (Electronic Communication Network) broker with offices in Vanuatu, Saint Vincent and the Grenadines, and the Republic of Mauritius. It has been operating since 2009 in strict accordance with its FSC (the Mauritius Financial Services Commission) license and the rules of the financial markets in which it is registered. GMI Markets serves over 1,000,000 clients, provides favorable trading conditions, security of funds, and 24/5 technical support. In 2022, this broker received two awards, namely Best Forex Execution Asia and Best Forex Platform Asia.
- Minimum deposit on all account types;
- This broker is licensed by an international regulator and has several client service offices;
- High leverage up to 1:2000;
- Wide choice of account types with a swap-free option for certain countries;
- Competitive fees and spreads on professional ECN accounts;
- A huge choice of MAM managers whose trades can be copied automatically;
- Algorithmic and social trading are available for all account types.
- There are additional fees for deposits and withdrawals;
- Limited choice of assets and payment systems;
- This broker does not offer training or market analytics.
TU Expert Advice
Financial expert and analyst at Traders Union
GMI Markets strictly follows the margin requirements policy to ensure that the maximum possible risk never exceeds the funds in the trader's account. As soon as the balance declines below the 60% margin required to maintain open positions, GMI Markets notifies traders via a margin call. In this case, forced closing of positions (i.e., via a stop out) is used when the margin level reaches 30%.
GMI Markets’ accounts differ in many ways, including the minimum deposit, fees, leverage, the maximum number of simultaneously open positions, etc. This broker offers cent accounts, which makes it possible to check trading conditions with minimal risks. The required deposit of $15 also makes this broker a profitable partner for novice traders. Professionals can trade in the ECN environment or choose the classic STP execution model.
GMI Markets’ accounts have some special features. For example, there are activity requirements, which means that there must be trading or monetary transactions constantly, or at least, intermittently. If the account is inactive for 90 days, this broker starts charging $10 every month until the balance reaches zero. After this, the user account is archived. This should be taken into account by traders who hold trades open for a long time.
- You're an experienced trader looking for advanced features. GMI offers platforms like MT4, MAM, and GMI Edge, providing advanced charting tools, market depth data, and various order types. This caters to traders who appreciate in-depth analysis and control over their positions.
- You prefer high leverage. GMI offers leverage up to 1:2000, magnifying potential profits but also amplifying losses. Use leverage cautiously and understand the risks involved.
- You prioritize robust regulations. GMI is regulated by the Financial Services Commission (FSC) of Vanuatu, which has less stringent regulations compared to some other jurisdictions. Consider your comfort level with this regulatory environment.
- You seek negative balance protection. GMI does not offer this feature, posing a risk of potential losses exceeding your deposited funds. Consider this risk, especially if you have limited capital or risk tolerance.
GMI Markets Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4, GMI EDGE, and MAM |
|---|---|
| 📊 Accounts: | Demo, Cent, Standard, ECN, and Standard Bonus (occasionally) |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Local bank transfers, Skrill, Neteller, FasaPay, and Dragonpay |
| 🚀 Minimum deposit: | $15 |
| ⚖️ Leverage: | Up to 1:2000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | ECN from 0.1 pips, Standard and Cent from 1.5 pips |
| 🔧 Instruments: | Currency pairs, precious metals, cryptocurrencies, and CFDs on natural gas, oil, and indices |
| 💹 Margin Call / Stop Out: | 60%/30% |
| 🏛 Liquidity provider: | Network comprised of 15 major banks, hedge funds, and institutional liquidity providers |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | All account types are swap-free by default |
| 🎁 Contests and bonuses: | Welcome Bonus and Deposit Bonus (occasionally) |
GMI Markets provides for trading over 70 financial instruments with high trading leverage. There is a wide choice of accounts, so traders can choose the type that suits their strategy. All of them are suitable for social trading and using EAs (expert advisors). Trading platforms are the classic MetaTrader 4 and GMI Markets’ proprietary platform. The execution type is market, and spreads are floating. Additional trading fees are charged on the ECN account only.
GMI Markets Key Parameters Evaluation
Share your experience
- Best
- Last
- Oldest
Trading Account Opening
The GMI Markets’ user account is a convenient platform through which this broker’s clients can make payments, adjust trading positions, manage MT4 accounts, and connect to the copy trading service. To register a user account on the GMI Markets website, do the following:
Click the “CREATE ACCOUNT” button, which is located at the top of all website pages. If you know exactly what account type you want to open, select it and also click the “CREATE ACCOUNT” button.
The registration form requires your first and last names, country, date of birth, and telephone number. Be sure to provide a valid email address and create a reliable password, as you will need them to log in to your user account.
Features of GMI Markets’ user account:
Additional features of the user account allow you to:
-
Activate verification. Here traders upload documents requested by this broker;
-
Setting up alerts;
-
Access the Help Center. It provides legal documents, FAQs, and a menu for creating tickets to contact support;
-
Deposit and withdraw funds, transfer funds to your wallet, and review the transaction history (for 1 day, 1 month, or the entire lifetime of the account) with fees;
-
Access social trading. In this section, traders can view the ratings of managers, trading statistics on copied trades, and open an investment account;
-
Examine sections with information on partner rewards and bonuses.
Regulation and safety
The GMI Markets group includes 3 companies, each providing services in certain countries and regions.
The Vanuatu company is registered under number 14646 as an International Business Company (IBC). This broker with an office in Kingstown, St. Vincent and the Grenadines, is registered as a Limited Liability Company (LLC) by the local regulator under number 2763 LLC 2022. The third company operates under license No. C118023454 issued by the Mauritius Financial Services Commission (FSC).
Advantages
- GMI Markets is registered in multiple countries and conducts transparent business activities
- All account types are protected from negative balance
- Each office operates according to the laws of the country where it is registered
Disadvantages
- This broker is not a member of any state or independent compensation funds
- To withdraw large amounts, extended verification may be required
- Registration as an IBC and LLC is not a license for conducting brokerage activities
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Cent | $0.15 | 3.95% + payment system fee |
| Standard | $15 | 3.95% + payment system fee |
| Standard Bonus | $15 | 3.95% + payment system fee |
| ECN | $1 | 3.95% + payment system fee |
Swaps, which are fees for transferring positions overnight, are charged on all account types, however, enabling the swap-free option provides for executing trades without swaps.
The comparative table below shows average fees for GMI Markets, RoboForex, and Pocket Option. TU analysts compiled it to clearly demonstrate the costs that a trader faces when working with each of the companies.
| Broker | Average commission | Level |
|---|---|---|
|
$7.8 | |
|
$1 | |
|
$8.5 |
Account types
GMI Markets offers Standard, Cent, and ECN accounts. Each of them is swap-free by default, however this option is only available to Muslim traders. The contract size for the Cent account is 1,000 units of the base currency; for other account types, it is 100,000 units.
Account types:
GMI Markets also offers a demo account that can be opened in any version of MT4.
The variety of trading accounts is an advantage of GMI Markets over brokers who do not provide the opportunity to choose the account type for specific purposes and for professional traders.
Deposit and Withdrawal
The list of payment systems differs for some countries. Neteller and Skrill are available for withdrawals worldwide, except in China. It is possible to withdraw money by bank transfer through a local bank. FasaPay is available to residents of Indonesia, and Dragonpay is available to residents of the Philippines. Traders from China can use UnionPay and Tether;
Withdrawal fees are 4% for Skrill and Neteller; 0% for local bank transfers, FasaPay, and Dragonpay; and GMI Markets’ fee is 3.95%;
Withdrawals by bank transfer are made Monday through Friday, including holidays. Requests submitted after 18:00 are processed the next business day. Transfers up to $5,000 via UnionPay and Tether are made within one business day. Withdrawals using Skrill, Neteller, FasaPay, and Dragonpay are instant;
The minimum amount available for withdrawal via Skrill, Neteller, FasaPay, and Dragonpay is $10; via UnionPay, it is $5; via Tether, it is $20; and amounts withdrawn via bank transfers depend on the country.
Investment Options
This broker offers MetaTrader 4 which provides for earning money using such built-in solutions as copy trading, algorithmic advisors, and custom indicators. Moreover, GMI Markets has its own social trading platform where both investors and experienced Multiple Account Managers (MAMs) can earn passive income. There is the Introducing Broker partnership program, which also helps to generate additional income.
Social copy trading is a proprietary copy trading platform from GMI Markets
Access to the copy trading service is available to all traders. You can register as a Master Trader and broadcast your trading for a percentage of profit. If you don’t have enough experience in trading, you can follow one or more master traders, automatically copying their positions. Main features of the social copy trading platform:
Masters can be selected based on many criteria, such as percentage of account profitability, maximum drawdown, return on investment (ROI), minimum deposit, number of investors, etc.;
Masters charge fees only for profitable trades. They range from 5%-50% of the investor’s income. Some managers set a zero fee for their services, as they make money from the partnership program;
The minimum deposit to connect to an experienced trader's account is USC (Ultimate Secure Cash) 1/USD 25. However, more than 300 Masters do not set requirements for the investment size, so you can connect to them with any account balance.
The best master traders manage funds up to $450,000, have up to 700 investors connected to their accounts, and their return on investment reaches 2,800%. However, remember that these are past performance and do not guarantee future profitability. To insure your capital, this broker recommends investing not in one, but in several masters with different strategies.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership program from GMI Markets
Introducing Broker (IB). Registration as an IB provides for making a profit from the trades of attracted clients. Reward for currency pairs is $1.4 on ECN accounts and $7 on STP. GMI Markets also pays a $7 fee for trades with gold on the Standard account.
The fees stated above are the maximum possible, but they may be lower, as they depend on the current IB level. Partners receive access to exclusive education from trading experts and dedicated support. Moreover, GMI Markets regularly gives away valuable prizes among IBs.
Customer support
Any technical or information assistance can be requested 24/5. Questions sent by email over the weekend will be answered by GMI Markets’ managers on Monday as requests are processed.
Advantages
- Live chat operators respond within 1-2 minutes
- Round-the-clock support on weekdays only
Disadvantages
- Answers by online support are not always comprehensive
- Technical support is not available on weekends
To communicate with this company’s support, use the following channels:
email;
live chat;
telephone (it is possible to order a call back);
tickets in the user accounts
Contacts
| Foundation date | 2021 |
|---|---|
| Registration address | Global Market Index Limited, The Cyberati Lounge, Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius |
| Regulation | FSC Mauritius |
| Official site | https://gmimarkets.com/en |
| Contacts |
Education
GMI Markets does not train novice traders who want to succeed in Forex and other financial markets. Some background information on the most traded assets can be found in the Markets section of the website.
You will have to look for educational information on third-party websites. However, you can practice trading and study GMI Markets’ conditions on its demo account.
Comparison of GMI Markets with other Brokers
| GMI Markets | RoboForex | Exness | TeleTrade | Pocket Option | Octa | |
| Trading platform |
GMI EDGE, MAM, MetaTrader4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | Pocket Option, MT5, MT4 | MetaTrader4, MetaTrader5, OctaTrader |
| Min deposit | $15 | $10 | $10 | $10 | $5 | $25 |
| Leverage |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:1000 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1.5 point | From 0 points | From 1 point | From 0.8 points | From 1.2 point | From 0.6 points |
| Level of margin call / stop out |
60% / 30% | 60% / 40% | 60% / No | 70% / 20% | 30% / 50% | 25% / 15% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of GMI Markets
GMI Markets partners with the world's leading banks to ensure maximum security for its clients’ funds. To create a stable and safe trading environment, it uses advanced technological solutions and innovations. This broker has been operating since 2009 and is constantly expanding its service area by registering new representative offices. GMI Markets staff conducts business in 8 languages, providing effective support at all stages of trading in the financial markets.
GMI Markets by the numbers:
Over 1 million traders from 30 countries;
founded more than 14 years ago and is constantly expanding;
Almost 2,000 successful copy trade managers;
Almost 100% of the time the trading platform has no freezes or technical failures.
GMI Markets is a broker with high dynamic leverage
The maximum leverage at GMI Markets is 1:2000, but this does not mean that it is available to every trader. Leverage varies depending on the trading account and its balance. Thus, Standard account holders can use leverage of 1:2000 if the amount of funds does not exceed $10,000. If the balance is $10,001-$30,000, leverage is reduced by half, and so on. For a deposit of $200,001 or more, the maximum leverage is 1:100. On the ECN account, leverage with a balance of up to $20,000 is 1:500; for up to $40,000, it is 1:400; and over $100,001, it is up to 1:100. GMI Markets’ clients can easily monitor their risk in real-time by tracking used and free margin.
In addition to desktop, mobile, and web versions of MetaTrader 4, this broker’s clients get access to the GMI EDGE platform. It works on Android/iOS-based smartphones and provides for managing payments, MT4 trading accounts, and investment accounts within the Social Trading service.
Useful services offered by GMI Markets:
Social trading platform. It provides for earning additional income for novice and experienced traders, as well as those who do not want to manually trade;
Live chat. It’s designed for real-time communication with GMI Markets’ representatives. It helps not only clients but also website guests to get support at different stages of trading activities and training;
Demo account. It can be used not only for training but also for practicing strategies. Moreover, on a demo account, you have the opportunity to test new advisors and this broker’s conditions in general;
Trading tools. This is a special section of GMI Markets’ user account that contains an economic calendar, data from Trading Central, and forecasts and reviews of currencies, cryptocurrencies, indices, and commodities.
Advantages:
Multi-lingual support team, website, and user account;
Round-the-clock live chat and email assistance during trading sessions;
Ultra-fast order execution within the low-milliseconds and instant deposits and withdrawals;
A convenient social trading platform with support for one-click trading;
Variable spreads and dynamic leverage on all account types;
Availability of demo account.
GMI Markets complies with the privacy policy and ensures the safety of client deposits by holding funds with major banks.
User Satisfaction i