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 moderate-risk broker with the TU Overall Score of 5.41 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 thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
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.
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- 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
Author, Financial Expert at Traders Union
GMI Markets provides trading services with flexible account types, along with a minimum deposit requirement of $15. It utilizes MetaTrader 4 and GMI EDGE platforms, offering high leverage up to 1:2000, which is attractive to traders seeking significant market involvement. The broker supports market execution with floating spreads and facilitates social and algorithmic trading across all account types.
However, GMI Markets has certain drawbacks like additional fees on deposits and withdrawals, a limited selection of tradable assets, and the absence of trading education resources. These aspects may not be ideal for traders looking for comprehensive asset choices or educational support. Overall, GMI Markets can appeal to those prioritizing high leverage and versatile account structures.
- 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 Trading Conditions
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 |
| 💵 Deposit / Withdrawal: | Local bank transfers, Skrill, Neteller, FasaPay, and Dragonpay |
| 🚀 Minimum deposit: | $15 |
| ⚖️ Leverage: | Up to 1:2000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,10 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 |
| 📋 Order 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
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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:
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Activate verification. Here traders upload documents requested by this broker;
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Setting up alerts;
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Access the Help Center. It provides legal documents, FAQs, and a menu for creating tickets to contact support;
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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;
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Access social trading. In this section, traders can view the ratings of managers, trading statistics on copied trades, and open an investment account;
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Examine sections with information on partner rewards and bonuses.
Regulation and safety
GMI Markets has a safety score of 3.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Negative balance protection
- Not tier-1 regulated
- Track record of less than 8 years
GMI Markets Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 FSC (Mauritius) |
Financial Services Commission of Mauritius | Mauritius | No specific fund | Tier-3 |
GMI Markets Security Factors
| Foundation date | 2021 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker GMI Markets have been analyzed and rated as Low with a fees score of 10/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of GMI Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, GMI Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
GMI Markets Standard spreads
| GMI Markets | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,1 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,4 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,2 | 0,4 | 0,1 |
| GPB/USD max, pips | 0,7 | 1,4 | 0,5 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
GMI Markets RAW/ECN spreads
| GMI Markets | Pepperstone | OANDA | |
| Commission ($ per lot) | 2,00 | 3 | 3,5 |
| EUR/USD avg spread | 0,10 | 0,1 | 0,15 |
| GBP/USD avg spread | 0,15 | 0,15 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with GMI Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
GMI Markets Non-Trading Fees
| GMI Markets | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
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
GMI Markets received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
GMI Markets offers limited payment options and accessibility, which may impact its competitiveness.
- Minimum deposit below industry average
- Low minimum withdrawal requirement
- No deposit fee
- No withdrawal fee
- Only major base currencies available
- BTC payments not accepted
- Limited deposit and withdrawal flexibility, leading to higher costs
What are GMI Markets deposit and withdrawal options?
GMI Markets offers a limited selection of deposit and withdrawal methods, including Bank Wire, Skrill, Neteller. This limitation may restrict flexibility for users, making GMI Markets less competitive for those seeking diverse payment options.
GMI Markets Deposit and Withdrawal Methods vs Competitors
| GMI Markets | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are GMI Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. GMI Markets supports the following base account currencies:
What are GMI Markets's minimum deposit and withdrawal amounts?
The minimum deposit on GMI Markets is $15, while the minimum withdrawal amount is $15. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact GMI Markets’s support team.
Markets and tradable assets
GMI Markets offers a limited selection of trading assets compared to the market average. The platform supports 70 assets in total, including 50 Forex pairs.
- 50 supported currency pairs
- Crypto trading
- Copy trading platform
- Bonds not available
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by GMI Markets with its competitors, making it easier for you to find the perfect fit.
| GMI Markets | Plus500 | Pepperstone | |
| Currency pairs | 50 | 60 | 90 |
| Total tradable assets | 70 | 2800 | 1200 |
| Stocks | No | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products GMI Markets offers for beginner traders and investors who prefer not to engage in active trading.
| GMI Markets | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | Yes | No | Yes |
| Managed accounts | Yes | No | No |
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 | Eightcap | XM Group | RoboForex | Exness | IC Markets | |
| Trading platform |
GMI EDGE, MAM, MetaTrader4 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, cTrader, MT5, TradingView |
| Min deposit | $15 | $100 | $5 | $10 | $10 | $200 |
| Leverage |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 1.5 point | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
60% / 30% | 80% / 50% | 100% / 50% | 60% / 40% | 60% / No | 100% / 50% |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | 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.
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