FXGM
Published: Updated:
- Trust score
- 3/10
- Legal simplicity
- 3/10
- Min. deposit
- 200
- Payment systems
- Instruments
- Forex, Stocks, Indices, Commodities, Metals, Energies, Cryptocurrencies
- Legal entity
- Depaho Ltd
- Jurisdiction
- Cyprus
- Fees
- Accounts are tiered by deposit, with spreads narrowing at higher tiers. Overnight swaps apply, and an inactivity fee applies after a period without trading.
- Withdrawals
- Withdrawals return to the funding method and are normally processed within one to three business days. Card returns are capped at the deposited amount.
- Available in
Features
- Educational seminars and trader training
- Daily market analysis
- Low $200 minimum deposit
- Segregated client accounts
- Affiliate program
- Wide range of trading instruments
Pros
- Regulated by CySEC (Cyprus) and FSCA (South Africa)
- Loss protection on your first ten trades
- Broad range of tradable instruments, from forex to crypto CFDs
Cons
- No demo account or Islamic (swap-free) account option
- No MetaTrader 4 — trading is limited to the in-house WebPROfit platform
FXGM is an online forex and CFD broker operating since 2011, headquartered in Cyprus under CySEC-regulated Depaho Ltd, with further authorization from Spain's CNMV and South Africa's FSCA. Retail leverage is capped at 1:30 in Europe under ESMA rules, rising to 1:200 for qualifying professional clients. The broker runs six account tiers with loss protection on the first ten trades but trades only through its own WebPROfit platform — MetaTrader 4 is not offered.
FXGM is a CySEC- and FSCA-regulated broker offering forex, stocks, commodities, indices, ETFs, and crypto CFDs, with a $200 minimum deposit and loss protection on a trader's first ten trades.
Overview and regulation
FXGM is an online forex and CFD broker that has operated since 2011, headquartered in Cyprus. It trades under Depaho Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC) and subject to the EU's MiFID framework. FXGM also holds authorization from Spain's CNMV (Comisión Nacional del Mercado de Valores) and South Africa's FSCA (Financial Sector Conduct Authority), extending its regulatory coverage beyond the EU.
Leverage
Leverage depends on jurisdiction. Retail clients trading under the EU framework are capped at 1:30 on forex, in line with ESMA rules. Clients who qualify as professional traders can access leverage up to 1:200, and South African clients also have access to higher leverage limits than EU retail clients.
Account types and fees
FXGM offers six account tiers for retail traders, each with loss protection on the first ten trades and different minimum deposits and spread or commission discounts. The Discovery account requires a $2,000 minimum deposit with a 5% discount, while the top-tier VIP account requires $30,000 with a 25% discount. The entry-level Basic account requires a $200 minimum deposit.
Professional accounts offer leverage up to 1:200, negative balance protection, and enhanced trade execution.
Accounts left inactive for three consecutive months are charged a €150 inactivity fee.
Instruments and platforms
FXGM offers forex and CFDs on stocks, commodities, indices, ETFs, and cryptocurrencies. Trading runs on the broker's own WebPROfit platform, a browser-based tool with real-time charts and analytical resources that needs no download. FXGM does not offer MetaTrader 4.
Trading conditions
FXGM operates from Cyprus under CySEC authorisation with MiFID passporting, offering deposit-tiered accounts on MetaTrader 4 and its own web platform.
As a CySEC firm the ESMA package applies: 30:1 on major currency pairs, 20:1 on non-majors, gold and major indices, 5:1 on individual equities, negative balance protection and margin close-out at 50%. Eligible clients are covered by the Investor Compensation Fund up to €20,000.
Tiering means the advertised spread belongs to the top tier — compare against the tier your intended deposit qualifies for.
Verification
Verification requires photo ID and proof of address plus an appropriateness assessment and economic profile, as MiFID rules require. Documents are usually reviewed within one to two business days.
Check the CySEC register for the entity's current standing and any published decisions before opening. A licence in a website footer is not evidence that the authorisation is current or unqualified.
