Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
GPM Broker Pros & Cons
- FOGAIN compensation to retail brokers from Spain in the amount of up to €100,000;
- Huge range of available markets — up to 100,000 assets subject to the trading platform;
- The broker is supervised by CNMV, the Spanish national regulator;
- Four account types each with unique trading conditions;
- Over 40 ready-made asset portfolios differentiated by risk level and initial investments;
- Access to 50+ stock exchanges in the U.S., Europe, and Asia;
- Offices where traders can get personal advice on investment products are located throughout Spain.
- No education on the broker’s official website;
- GPM Broker withholds intermediary fees for providing trading on partner platforms;
- High fees for U.S. stocks and ETFs.
GPM Broker is a Spanish stock broker that has been on the market since 1987. In 1990, it was registered by CNMV (Comisión Nacional del Mercado de Valores) and FOGAIN (Fondo General de Garantía de Inversiones). The company is an introducing broker (IB) of Saxo Bank, Interactive Brokers, and Swissquote which are internationally regulated companies, and therefore it offers trading platforms of these brokers. GPM Broker focuses on asset management services provided using model portfolios and investment funds, including companies with variable capital SICAV (Société d'investissement à Capital Variable). The broker’s head office is located in Madrid, however, it also has offices in Barcelona and other major Spanish cities.
TU Expert Verdict
GPM Broker demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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GPM Broker User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of GPM Broker have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- No inactivity fee
- No deposit fee
- No withdrawal fee
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of GPM Broker 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, GPM Broker’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.
GPM Broker Standard spreads GPM Broker OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.5 0.5 1.2 GPB/USD min, pips 0.3 0.1 0.9 GPB/USD max, pips 0.7 0.5 1.4 Does GPM Broker support RAW/ECN accounts?
As we discovered, GPM Broker does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with GPM Broker. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
GPM Broker Non-Trading Fees GPM Broker OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is GPM Broker Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8.5 /10GPM Broker has a safety score of 8.5/10, which corresponds to a High 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.
- Tier-1 regulated
- No negative balance protection
GPM Broker Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level CNMV
Full Name Comisión Nacional del Mercado de Valores Country of regulation Spain Investor Protection Fund Up to €100,000 Regulation Level Tier-1 GPM Broker Security Factors Foundation date 2021 Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.5.6 /10GPM Broker offers the following account options: Demo, Standard.
However, GPM Broker does not provide a Standard account, which can be a drawback for traders who prefer classic spread-based pricing models.
- Standard account with balanced trading conditions
- Low minimum deposit
- Demo account
- No VIP account option
- No Cent account
GPM Broker account types vs top competitors GPM Broker Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoGPM Broker accounts trading conditions
Traders can open accounts with GPM Broker in any of its offices, by phone, or online. Upon confirmation of personal and payment data, choose the platform on which you want to create an account. If you are going to use the platform offered by another company, open the account with this company as well, since GPM Broker is an IB in this case, that is, an intermediary between a trader and the executive broker.
Account types:
Account Type Description GPM Professional Broker This account type allows traders to work on over 100 markets in 22 countries and can be opened on the TWS platform in different currencies. Trades with stocks listed on 50 major stock exchanges are available. The fees for ETFs are 0.1%-0.13% (min. $6/€5); for warrants, they are 13% (min. €5); for options, they are from $1.43/€3 (min. $2/€5); for futures, they are $2.4/€2.4 (min. $3/€3); and for Forex, they are 0.0052% (min. $4/€3). GPM SV This account type is for the GPM Online platform that provides for trading underlying assets and derivatives, as well as working with investment funds and pension plans. Traders can entrust executing operations to the sales department by phone. Fees vary and the minimum is €1.1 for stocks. GPM Swissquote This account type is available for trading on the eTrading platform. It allows traders to work with over 100,000 financial instruments and invest in low-priced portfolios managed by experts. Fees for stocks start at $5. GPM Trader This account type is opened on the SaxoTraderGO platform. It is intended for trading stocks, mutual and stock funds, futures, options, and CFDs, as well as for working with managed portfolios. Fees for futures and options start at $3/€3 per contract; for bonds, fees start from 0.20% of the nominal value; and for ETFs, fees start from 0.1% of the position size. GPM Broker offers a demo account for training and exploring the platform’s features and trading conditions of the broker.
The broker divides its clients into Minoristas and Profesionales, which influences the trading conditions and the range of available markets.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology4.3 /10GPM Broker received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
GPM Broker offers limited payment options and accessibility, which may impact its competitiveness.
- Minimum deposit below industry average
- Bank wire transfers available
- No deposit fee
- No withdrawal fee
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
- BTC not available as a base account currency
What are GPM Broker deposit and withdrawal options?
GPM Broker offers a limited selection of deposit and withdrawal methods, including Bank Wire. This limitation may restrict flexibility for users, making GPM Broker less competitive for those seeking diverse payment options.
GPM Broker Deposit and Withdrawal Methods vs Competitors GPM Broker Trading.com Plus500 Bank Wire YesYesYesBank card NoYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are GPM Broker base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. GPM Broker supports the following base account currencies: USD, EUR, GBP.
What are GPM Broker's minimum deposit and withdrawal amounts?
The minimum deposit on GPM Broker is $1, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact GPM Broker’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.5 /10GPM Broker offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 55 Forex pairs.
- ETFs investing
- Passive income with bonds
- Copy trading platform
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by GPM Broker with its competitors, making it easier for you to find the perfect fit.
GPM Broker Trading.com Plus500 Currency pairs 55 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesNoYesStock indices YesNoYesOptions YesNoYesInvestment options
We also explored the trading assets and products GPM Broker offers for beginner traders and investors who prefer not to engage in active trading.
GPM Broker Trading.com Plus500 Bonds YesNoNoETFs YesNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at GPM Broker by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with GPM Broker in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at GPM Broker is $1. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
GPM Broker account opening GPM Broker Trading.com Plus500 Online Registration YesYesYesMinimum deposit $1 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 2 3 Is GPM Broker available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading on any of the broker’s account types, create a user account on its official website. Below are a few instructions on how to register:
Click the “Abrir cuenta” button at the top of the screen.
To open a registration form, click the “Apertura de Cuenta” button.
In the form, provide your personal information, choose the account type and trading instruments, and create a username and password.
Confirm your email and sign into your user account entering your username and password. Next, complete your profile, link your bank account, upload your documents, and sign the agreement. Deposit funds only after you receive confirmation that the company has approved your registration.
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Customer Support
Score:We evaluated Customer Support at GPM Broker by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.4 /10Customer support at GPM Broker is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. GPM Broker provides basic support functionality but does not stand out in overall service performance.
InformationTraders can contact technical support from 9:00 to 18:00 (GMT+1) Monday through Friday.
- Support is available by phone and email
- No live chat on the broker’s website
- Support isn’t available 24/7
To communicate with technical support, traders can use these channels:
- Telephone;
- Email;
- Feedback form in the Contact section.
For a personal consultation, visit one of the company’s offices.
Contacts Foundation date 2021 Registration address Calle de Montesa 38 (Pasaje Martí) Local 1, 28006 Madrid, Spain Regulation CNMV Official site https://gpmsv.com/gpmbroker/ Contacts info@gpmbroker.com +34 91 319 16 84
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FAQs
How secure is trading with GPM Broker in terms of regulation and investor protection?
GPM Broker has a safety score of 8.5/10, which corresponds to a high security level in this review. It is regulated by the Tier-1 Spanish authority CNMV, with an investor protection fund coverage of up to €100,000, but it does not provide negative balance protection, which is explicitly noted as a disadvantage.
What account types and trading conditions does GPM Broker offer?
According to this section, GPM Broker offers Demo and Standard accounts, with a low minimum deposit but no Swap Free, micro, cent, VIP, or managed accounts. It also provides several specialized account formats (GPM Professional Broker, GPM SV, GPM Swissquote, and GPM Trader) with access to various markets and fee structures, and divides clients into Minoristas and Profesionales, which affects trading conditions and available markets.
What do user reviews say about overall satisfaction with GPM Broker?
The user satisfaction score for GPM Broker is 7/10, based on 2 reviews, with 50% of ratings at 4 stars and 50% at 3 stars. According to user reviews, overall sentiment is mixed rather than strongly positive or negative.
What do reviews mention about GPM Broker deposit and withdrawal conditions?
This section notes that GPM Broker has a low score of 4.25/10 for deposit and withdrawal efficiency, with limited payment options and accessibility. Bank wire is supported and there are no stated deposit or withdrawal fees, the minimum deposit and withdrawal are both $1, but methods like bank cards, PayPal, BTC, and USDT are not available according to the review.
How is customer support at GPM Broker described in reviews and feedback?
Customer support at GPM Broker is available by phone, email, and a website feedback form, with service hours from 9:00 to 18:00 (GMT+1) Monday through Friday. The section states that response times are moderate and quality can vary, and it also notes that there is no live chat and no 24/7 support.
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