FXGM ZA: New Broker Review

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

This broker is a South Africa online trading broker operated by FXGM South Africa (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 to help 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 Financial Sector Conduct Authority (FSCA) with license FSP Authorisation No. 50202 and registered office at Unit 1, Village Corner, 57 Via Latino Crescent, Irene Corporate Corner, Irene, Gauteng 0178, South Africa. 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 the form of eBooks and Webinars.

Account Types

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

Junior Account

The minimum deposit to open a Junior account is between $200 – $9,999. A junior account user enjoys all the common features listed above.

Premium Account

The premium account requires an initial deposit between $10,000 – $29,999. The premium account users have access to Trading Central additional to the features listed above.

VIP Account

The additional features of the VIP account are:

• Trading Central
• Spread discount on FX Majors
• Spread discount on Commodities
• Spread discount on Indices
• The initial funding of the VIP account is between $30,000 – $49,999.

Executive Account

The Executive account offers;

• Trading Central
• Spread discount on FX Majors
• Spread discount on Commodities
• Spread discount on Indices
• The initial fee of $50,000 – $99,999 is required to set this account.

Royal Account

The Diamond account gives the trader access to;

• Trading Central
• Spread discount on FX Majors
• Spread discount on Commodities
• Spread discount on Indices
• A trader needs an initial fund above $100.000 to set up this account.

Trading Platform

FXGM ZA provides traders with two trading platforms 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 on your mobile device. The app allows for 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 needs. 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 the ease of payment. FXGM ZA adopts easy payment methods. Payment may be made through Visa, Master Card 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 3 business days, 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 offers a daily bonus for new traders. Also, 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 is always available to offer support via phone, email, and live chat support 24/5.