Pros & cons of GMI Markets broker

GMI Markets Fact sheet

GMI Markets is regulated by Mauritius’ Financial Services Commission (FSC) and is registered in Vanuatu and St. Vincent and Grenadines. The broker offers negative balance protection to prevent clients from going into a minus balance in case of over-leveraged trading. GMI Markets is part of an investor compensation fund in case of insolvency and uses segregated bank accounts to keep client funds safe. These policies together with regulations makes sure the broker is legit and treats its clients fairly. 

GMI Markets offers very diverse account types to appeal to all kinds of traders including scalpers and beginners, as well as low and high-budget traders. The account types are ECN, CENT, Standard, and Standard Bonus. Each account offers slightly different minimum deposits and other terms, but all account types come with spreads from 0.0 pips. Since only the ECN account has a commission of 4 USD per side per lot, we assume the spreads are fixed for this account and others are dynamically changed. The minimum deposit required for the ECN account is 100 USD and has the lowest maximum leverage possible of up to 1:500. The maximum lot size is set to 50 lots. It seems this account is targeted at scalpers who want to trade with large positions, without spread markups, but with average commissions. Let’s switch to CENT accounts that offer very attractive terms for beginners with a low budget. The minimum deposit is 15 USD, the maximum leverage is 1:1000, and the contract size is 1,000. No commissions are charged for trading with CENT accounts and spreads start from 0.01 pips and are dynamic. For the other remaining account types, the Standard and Standard Bonus, the terms are very similar with maximum leverage of 1:2000 and a minimum deposit of 25 USD. 

Pros & cons of GMI Markets account types

Comparing GMI Markets fees with other brokers

GMI Markets fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

GMI Markets fees compared to CM Trading fees

GMI Markets fees compared to plus500 fees

GMI Markets fees compared to XM fees

GMI Markets fees compared to AvaTrade fees

GMI Markets fees compared to Capital.com fees

MetaTrader 4 (MT4) is the main trading platform provided by GMI Markets. The broker offers GMI Edge as a secondary trading platform which has a feature for syncing with the MT4 platform. With this, traders will be able to use GMI Edge to fund the MT4 platform, and the broker claims that the connection is fast and seamless. Furthermore, GMI Markets allow for Expert Advisors (EAs) and custom indicators. GMI offers a Multi account manager which enables you to control several trading accounts with one click. GMI Edge is a mobile app that enables trading and comes with charting capabilities; all accounts can be accessed and managed from one app which is a great plus. 

Unfortunately there are no educational materials available for now and we hope the broker focuses its attention on this matter soon. As for trading and market research tools, there are a few advantages when using the GMI Markets app. Investor accounts are available and it is possible to manage several accounts within one application which offers social trading abilities as well. 

GMI Markets' customer support is among the best out there. The live chat offers the fastest way to connect with broker representatives in mere seconds. The support is very polite, responsive, and knowledgeable. They always try to offer the most accurate information on questions and help traders find the best solutions in case issues arise during trading. There are other options available including an online form to leave a message and email support. Both the website and support are available in 8 different languages which is very useful for international traders. 

GMI Markets is a regulated Forex and derivatives broker that has managed to attract a large number of traders from different countries. The broker offers ultra-low spreads from 0.0 pips and fast execution, paired with excellent client support and a well-designed website. The broker is regulated by the Mauritius Financial Services Commission and is registered in Vanuatu and St. Vincent and Grenadines. Negative balance protection, segregated bank accounts, and being a part of an investor compensation fund ensure that GMI Markets is legitimate and treats its clients fairly. While GMI Markets only offers 20 tradable assets, it provides very diverse account types to cater to all kinds of traders, including scalpers, beginners, and low and high-budget traders. The broker's fees are competitive when compared to other brokers in the industry, with no fees on deposits and only a small inactivity fee of $10 per month after 90 days of inactivity. Overall, GMI Markets is a broker that provides a good trading experience, especially for traders who prioritize low spreads and fast execution.