FXGM ZA: New Broker Review

Forex market has different players. This time I want to present you a new Forex broker –  FXGM ZA.

This broker is a South Africa online trading broker operated by Unum Capital (Pty) Ltd. The company operates only in South Africa and functions within the South African applicable laws and regulations.

The main goal of the company is helping its customers maximize profit. They created a platform that offers a unique combination of powerful tools, easy to use interface, intuitive controls and easy navigation. These features combine to provide a satisfying experience for any type of investor.

THe broker also offers a professional mobile app, which is available to all clients for free. The FXGM ZA app provides trading tools like the Economic Calendar, market updates, and up-to-the-minute analysis.

Trading with FXGM ZA, either on the web or the app, gives traders access nearly to 140 tradable assets on one trading platform.

Regulation

The broker is regulated by the South Africa Financial Sector Conduct Authority (FSCA) with the license FSP Authorization No. 564. FXGM South Africa (Pty) Ltd operates as an authorized Juristic Representative of Unum Capital (Pty) Ltd. FXGM ZA traders enjoy services adherent to the local laws and financial requirements.

Education

FXGM ZA provides various educational resources that can be useful to starters and experienced traders. The educational resources give their clients access to all the information necessary to thrive in the trade. Some of these resources are presented in form of eBooks and Webinars.

Account Types

There are seven special types of live trading accounts. This variety is necessary to accommodate the various level of traders. All seven accounts come with Free e-book, Free Training, Free Webinars, Personal Account Manager, Trading insider, One Click Trading, POP UP ALERTS.

Basic Account

The minimum deposit to open a Basic account is between $200 – $1,999. A basic account user enjoys all the common features listed above.

Discovery Account

The discovery account requires an initial deposit between $2,000 – $4,999. The discovery account users have access to;

  • 10% price discount
  • 20% position loss coverage, in addition to all the features Basic account.

Silver Account

The additional features of the Silver account are;

  • one-month free access to the Trading Central
  • 20% price discount
  • 25% Position Loss Coverage.
    The initial funding of the Silver account is between $5,000 – $9,999.

Gold Account

The Gold account offers;

  • two months access to the Trading Central
  • 30% price discount, 17% rollover discount
  • 30% position loss coverage.
    The initial fee of $10,000 – $14,999 is required to set this account.

Diamond Account

The Diamond account gives trader access to;

  • A personal customer service agent
  • 3 months access to trading central
  • 40% price discount
  • 20% rollover discount
  • 35% position loss coverage
    A trader needs an initial fund between Equity $15,000 – $29,999 to set up this account.

VIP Account

The VIP offers all the features of the Diamond account with some extras.

  • A personal customer service agent
  • 4 months access to trading central
  • 50% price discount
  • 33% Rollover discount
  • 40% Positional Loss Coverage.
    An initial fund between $30,000 – $49,999 is required for this account.

VIP+ Account

The VIP+ is the 800 pounds elephant in the room, this account combines all the feature of all the other accounts and more. The VIP+ gives;

  • 5 months access to the Trading center
  • 60% price discount
  • 50% Rollover discount
  • 45% Position loss coverage.
    The initial fund fee is $50,000 and more.

Trading Platform

FXGM ZA provides traders with two trading platform to choose from: the WebPROfit Platform and the Mobile PROfit Platform.

The Web PROfit platform provides a fulfilling experience in an exceptional trading environment. PROfit is one of the leading trading platforms, and it’s popular among online traders. It does not require a download, the platform offers numerous trading tools, news feeds and supports directly from the platform.

The Mobile PROfit offers traders an opportunity to download FXGM ZA app for free on Android and IOS powered phones. The app allows instant execution of trade directly from your phone.

The PROfit gives both the beginners and professional traders equal opportunities to trade in an exceptional trading environment. The interactive platform provides a unique user interface and advanced trading features. It also allows you to design your own layout and edit your workstation to suit your specific need. Most importantly, PROfit has two unique formats on the trading platform menu, one for the Beginners and the other for Professional Traders.

Deposits and Withdrawals

One of the most important factors to consider when choosing an online trading broker is ease of payment. FXGM ZA adopts easy payment methods. Payment may be made through Visa, MasterCard, Diners or American Express Cards or by bank transfer into the Company’s bank account – the details of which they will provide on request.

The broker provides two withdrawal options for its customers. The customers can either fill the Withdrawal form or enter the amount they intend to withdraw in the Withdrawal section in their accounts. All withdrawals are processed within one business day, but the trader may have to wait for a few days to get their money, depending on the method they select.

Customer Incentives with Protection Insurance

FXGM ZA doesn’t offer a welcome bonus to new customers. However, they offer the First Protected Positions (FPP). The FPP allows new customers to get their money back should they lose in their first 5-10 positions when trading CDFs on the company’s live trading platform. In situations where new customers make a profit, they can keep it. Customers are required to make an initial deposit up to $/€200.00 or more to use the FPP. The higher the deposit the greater the number of protected positions. Any funds lost from the first protected positions will be credited back to the trading account.

Customer Service

The FXGM ZA web and the FXGM ZA app are easy to use. However, their team of professionals is always available to offer support via phone, email, and live chat support 12/5.

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4 thoughts on “FXGM ZA: New Broker Review

  1. Even though it is new sems like it offers a lot…. interesting.

    Like

  2. I know it’s different from fxgm.com and i’m intrigued about it.

    Like

  3. Very informative post, gave me high expectations for this new player.

    Like

  4. Hope FXGM ZA will satisfy our big expectation.Thanks for the review.

    Like

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