Forex FXGM Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.6

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.8

Business 1.1

Risk Control 1.4

Software 2.1

Regulatory 1.6

Terminal Snapshot

FXGM Trading Conditions

Registered Region Cyprus

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email info@fxgm.com

Contact Number +35722030082

Website www.fxgm.com

Balanced Review

Pros & Cons

Pros

Regulated by Cyprus Securities and Exchange Commission (CySEC) and Financial Sector Conduct Authority (FSCA)
Diverse range of trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
User-friendly proprietary Profit Trading Platform with mobile compatibility
Customer support available 24/5 through multiple channels
Protection of the first ten trades from loss for new traders

Cons

No demo accounts available
High minimum deposit requirement of $200
High spreads on trading instruments
Limited educational resources for traders
Customer service experiences reported as inconsistent

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	FXGM	XM	InterStellar	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	Cyprus	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.6/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does FXGM Offer?

Account Type	Target User Group	Key Characteristics	Applicability Notes
Retail Account	Beginners	Protected first ten trades from loss	Ideal for new traders seeking practice
Professional Account	Experienced traders	Higher leverage and 0% margin close-out	Requires trading volume qualifications
Corporate Account	Corporate clients	Custom services and support	Requires corporate documentation
Islamic Account	Traders following Sharia law	Swap-free trading option	Not explicitly offered
Demo Account	All traders	Practice trading in a risk-free environment	Available for a limited time only

Account Opening Process

To open an account with FXGM, traders need to follow a straightforward process. Initially, applicants must submit personal information, including their name, address, and contact details. Subsequently, employment and financial information are collected to assess the trader’s profile. Identity verification is required, necessitating submission of a valid ID and proof of address. Once the necessary documents are provided, FXGM reviews the application. Additionally, traders have the flexibility to upgrade their accounts, for instance, from a retail to a professional account, once they meet the eligibility requirements.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	$0	Tight spreads available
CFDs (Stocks, Indices, Commodities)	Varies	$0	Competitive pricing structure
Cryptocurrencies	Varies	$0	Dependent on market conditions

Other Fees

FXGM may impose various fees related to trading activity. These include deposit and withdrawal fees, which can vary based on the payment method chosen. Inactivity fees may apply to accounts that remain dormant for an extended period. While platform usage fees are not specified, traders should be aware of potential overnight interest (swap rates) applicable to positions held overnight. Additionally, currency conversion fees might be incurred when trading in different currencies.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

FXGM User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

John Smith

New York, USA

★ ★ ★ ★ ★

I had high hopes for FXGM after hearing about their diverse trading instruments. Unfortunately, my experience has been disappointing. I attempted to withdraw my funds after several successful trades, but the process has been painfully slow and frustrating. Customer support has been unresponsive, and I’m left wondering if I’ll ever see my money again. It’s been a stressful experience.

Emily Johnson

London, UK

★ ★ ★ ★ ★

I started trading with FXGM a few months ago, and overall, I’ve had a positive experience. The Profit Trading Platform is user-friendly, and I appreciate the range of instruments they offer. Customer support has been helpful when I’ve needed assistance. While there are some fees I wish were clearer, the first ten trades protection is a nice touch for beginners like me.

Michael Brown

Sydney, Australia

★ ★ ★ ★ ★

My experience with FXGM has been nothing short of a nightmare. I deposited $5,000 and was initially excited about trading. However, when I tried to withdraw my funds, I was met with endless excuses and delays. It’s as if they are trying to keep my money. I feel completely scammed and would warn others to stay away from this broker.

Sophia Davis

Toronto, Canada

★ ★ ★ ★ ★

I’ve been trading on FXGM for about a year now, and I must say, I’m impressed by how smooth everything runs. The platform is easy to navigate, and I love the market analysis tools they provide. I had a minor issue with my account, but the customer service team was quick to resolve it. I appreciate the protection on my first ten trades, which gave me the confidence to start trading without fear of loss.

Cyprus Market