GMI Edge, or GMI Markets, is a CFD-specialized brokerage trading platform that has facilitated millions of traders since 2009. Having been in the industry for over a decade speaks a lot about its reliability. However, the broker’s limited information may intimidate beginners, so we decided to provide valuable insights into the broker’s services through our detailed GMI Edge Review 2023.
The broker is as useful and customer-centric as it seems at a glance. Its copy trading feature, zero commission structure and ECN trade models can be assumed to be the reasons behind its wide popularity.
Through this comprehensive GMI Markets Review 2023, we will put the broker services to the test, including its fees, regulatory compliance, product information and accounts availability.
What Is GMI Edge Known For?
GMI Edge is a dedicated mobile trading platform of GMI Markets broker. The platform is renowned for its commitment to providing clients with a secure trading environment.
The broker is owned by Global Market Index Limited, an International Business Company registered in Vanuatu under registration number – 14646.
With a presence in over 11 countries, the broker is currently focusing on Asian markets, including China, Singapore, Malaysia and Thailand.
Now that you have got helpful insights into the platform’s basic information, it’s better to move forward through this detailed GMI Edge Review 2023 to learn more about its services.
GMI Edge Scam Test: How Safe Is It To Trade With?
GMI Edge is a regulated forex broker, and it appears to be a legitimate and safe option for traders. It is important to note that it holds multiple regulations through its other subsidiaries and entities, including.
- Global Market Index Limited, an International Business Company, is regulated and registered in Vanuatu under registration number 14646.
- Global Market Index LLC is registered & authorised in St. Vincent and Grenadines under registration number 2763 LLC 2022.
- Global Market Index Limited is authorised and regulated by Mauritius Financial Services Commission “FSC”, license No C118023454.
Based on our investigation for GMI Edge App Review 2023, the broker appears to be legit and not a scam.
Why Should You Trade With GMI Edge?
While engaging with the platform for the first time, we noticed nothing special about it. However, when we stepped forward to start trading with it, we discovered a few advantages of trading with this broker –
The spreads are actually the lowest & for ECN accounts; it starts from 0.00 Pips
- Orders are executed within milliseconds
- Deposits and withdrawals are ultra-fast
- The 1-click social trading solution simplifies trading
- 24/5 multi-lingual customer support
- Winner of leading awards – Best Forex Execution Asia 2022 & Best forex Asia Award 2022
Why Should You Avoid GMI Edge Forex Broker?
Likewise, several advantages, but there are some downsides the platform’s potential users shouldn’t ignore. So we listed them out through GMI edge Review 2023:
- Commission charges are comparatively higher
- Limited access to global markets
- No access to MetaTrader5 (MT5)
GMI Edge Review: Product Availability & Markets Information
The brokerage app offers a diverse range of trading products that can appeal to traders with different preferences and strategies. The list includes three major markets, including
- Forex: 30+ currency pairs
- Indices: Dow Jones, NASDAQ, S&P, FTSE, DAX, CAC, NIKKEI
- Gold, Silver & Crude Oil
Our findings from GMI Markets Review 2023 revealed the broker’s product portfolio is limited to just three markets. It lacks Crypto, Stock and Commodity trading.
Review Of GMI Edge Trading Conditions
The trading application offers traders competitive trading conditions, including low spreads, high leverage, and fast order execution.
To make it more understandable, we have provided detailed information on the broker’s trading conditions through our detailed GMI Edge App Review for 2023.
GMI Edge Accounts Comparison
In terms of offering trading accounts, the broker definitely impressed us with its offering of both retail and professional accounts, alongside a free demo account.
All available account types have different trading conditions, spread & margin requirements, so it’s better to have insights into each of them to choose the best one.
Here take reference from the account comparison table through GMI Edge Review 2023:
|Leverage||Up to 1:500||Up to 1:1000||Up to 1:2000||Up to 1:2000|
|Social Trading Enabled||Yes||Yes||Yes||Yes|
|Max. Order (MT4)||500||200||500||500|
|Commission||$4 per lot||N/A||N/A||N/A|
GMI Fees, Spreads & Commissions
The broker charges fees in both commission-based and commission-free models. While the commission charges are waived off for cent, Standard & Standard Bonus accounts, ECN account holders are subject to pay $4 per lot as a commission.
Meanwhile, other account types incurred spread charges, which vary depending on the chosen trading instrument. Here’s a closer look at a detailed broker fee structure through GMI Edge Review 2023:
- Gold, Silver & Oil – 0.1 – 0.8 Pips
- Forex – 0.00 Pips
- Indices – 0.6 – 6 Pips
Leverage & Margin Requirements
The broker offers competitive leverage, which increases with each account tier. Meanwhile, the broker hasn’t specified its margin requirements for any account type.
Here’s a table explaining the broker’s available leverage ratio:
|Account Type||Maximum Leverage||Margin Required|
|ECN||Up to 1:500||Not Specified|
|Cent||Up to 1:1000||Not Specified|
|Standard||Up to 1:2000||Not Specified|
|Standard Bonus||Up to 1:2000||Not Specified|
GMI Edge Social Trading Feature
As far as we investigated this GMI Edge review 2023, we found the broker’s social trading feature to be a valuable tool for both experienced and novice traders who wish to learn from and follow the trades of successful traders.
Meanwhile, it offers three account options for social trading:
Investor Account: This account is designed for investors who wish to follow and copy the trades of experienced traders. With an investor account, traders can search for Master Traders, view their trading history and performance statistics, and choose which traders to follow.
Master Trader Account: This account is designed for experienced traders who wish to become Master Traders and share their trades with other traders. With a Master Trader account, traders can earn additional income by receiving commissions from investors who copy their trades.
Master Traders Ratings: GMI Edge provides a Master Traders Ratings system that ranks Master Traders based on their performance and other factors. This helps investors to choose the most successful and reliable Master Traders to follow and copy.
The GMI Edge app appears to be a user-friendly and feature-rich platform for forex traders. The app’s design and layout seem to be well thought out, with a clean and organised interface that makes it easy to navigate and find the information you need.
One of the app’s standout features is its powerful charting capabilities, which include advanced tools and indicators that can help traders analyse market trends.
The app also offers one-click trading, which makes it easier for traders to manage their positions and execute trades quickly.
Another key feature of the Edge app is its focus on security. The app uses secure authentication to keep all trading account data safe, and the platform is designed to resist cyber-attacks and other security threats.
Deposit & Withdrawal Conditions Of GMI Edge App
The deposit and withdrawal conditions of the GMI Edge app appear to be straightforward and user-friendly, with a range of options available to help traders manage their finances more effectively.
The list includes the following payment options:
- Local Bank Transfer
What Is The Minimum Deposit For GMI Edge?
As per our findings from GMI Markets Review 2023, the minimum deposit amount depends on the account type. For the ECN account, the minimum deposit is $100. For the Standard and Standard Bonus accounts, the minimum deposit is $15. For the Cent account, the minimum deposit is $15.
How Long Does It Take To Get A Withdrawal From Gmi?
The time it takes to process a withdrawal request from GMI Edge depends on the withdrawal method used.
- For bank transfers, it can take up to 5 business days for the funds to be credited to the trader’s bank account after the withdrawal request has been approved.
- For electronic payment methods, such as e-wallets like Skrill or Neteller, the processing time is typically 24 hours or less.
Is GMI Edge Good For Beginners?
Yes, GMI Edge can be a good option for beginners who are just starting out with forex trading. The app offers a user-friendly interface that is easy to navigate and provides access to a wide range of trading tools and instruments.
A key feature that makes it a good choice for beginners is the availability of a free demo account and the social trading feature.
However, it’s important to note that GMI Edge lacks educational support and crucial research tools that can be helpful for beginners.
This means that traders may need to seek out additional resources and information to supplement their trading knowledge.
How Can You Contact The GMI Edge Customer Support?
You can contact the GMI Edge customer support team by emailing them at [email protected] or using the live chat feature.
As per our views through GMI Edge Review 2023, these are both convenient and efficient ways to get in touch with the support team if you have any questions or concerns about your account, trading platform, or any other aspect of your experience.
However, it’s important to note that GMI Edge does not currently offer dedicated phone support, which can disadvantage some traders who prefer to speak with a customer service representative over the phone.
Should You Open An Account With GMI Edge Broker?
Yes, opening an account with GMI Edge can be a good option for traders due to the availability of a variety of trading tools and instruments, as well as features such as social trading and a free demo account, which can be helpful for traders of all levels of experience.
However, it’s important to note that there are some limitations to the markets that are available for trading on the GMI Edge platform.
Additionally, the lack of phone support and educational resources can be a drawback for some traders who prefer more personalised assistance and access to educational materials.
So, if you think the features that GMI lacks are the ones you’re looking for, then it is not the right platform. Instead, you can choose a more reliable & multi-service broker like InvestFW.
How Can You Open An Account On GMI Edge App?
Getting started with the GMI Edge app is easy, with quick registration and verification processes that allow traders to open an account in just a few minutes.
- Download the GMI Edge app on your mobile device and open it.
- Click on the “Register” button on the home screen.
- Enter your personal information, such as your name, email address, phone number, and country of residence.
- Choose the type of account you want to open (Standard, ECN, or Cent) and select your preferred currency.
- Provide additional information, such as your date of birth, employment status, and financial information.
- Upload a copy of your government-issued ID and a recent proof of address (such as a utility bill).
- Submit your application for review.
Is GMI A Trusted Broker?
It is considered a trusted broker due to its regulation by the FSC, advanced security features, and client fund segregation.
Is GMI Edge Regulated?
Yes, the broker is regulated by Mauritius Financial Services Commission “FSC”, license No C118023454.
What Is GMI Forex?
It is a trading platform that provides CFD trading services on global currency pairs.
How Much Does GMI Cost?
The cost of trading with GMI Edge varies depending on your account type and the instruments you are trading.
The ECN account has a commission fee of $4 per lot traded. For other account types, such as the Standard and Cent accounts, there are spread charges that start from as low as 0.1 pips.
How Much Is The GMI Withdrawal Fee?
GMI Edge does not charge a withdrawal fee, but there may be fees charged by the payment provider or bank that you use for the withdrawal.
How To Deposit Funds Into GMI Edge Account?
To deposit funds into your account, you can use various payment methods such as bank transfer, credit/debit card, or online payment systems like Skrill and Neteller. Simply log in to your account, select the “Deposit” option, choose your preferred payment method, and follow the instructions.
How To Withdraw Funds From GMI Edge Account?
To withdraw funds from your account, log in to your account, go to the “Withdrawal” section, select your preferred withdrawal method, enter the withdrawal amount, and follow the instructions.
How To Resolve GMI Edge Login Issue?
To resolve GMI Edge login issues, ensure that your credentials are correct and your internet connection is stable, and try clearing your cache/cookies or using a different browser/device. If the issue persists, contact customer support for assistance.