General Information & Regulation
TradeGM, a trading name of eBrókerház Szolgáltató zrt, is allegedly a forex and CFD broker registered in Hungary that claims to provide its clients with over 200 tradable financial instruments with leverage up to 1:200, variable spreads from 0.1 pips and zero commission on the MT5 and GM Trader trading platforms, as well as a choice of six different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that TradeGM does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.21/10. Please be aware of the risk.
Market Instruments
TradeGM advertises that it offers access to more than 200 trading instruments, covering forex and cryptocurrency trading, as well as CFDs on multiple asset classes including shares, indices and commodities.
Account Types
Apart from demo accounts, TradeGM claims to offer six types of real trading accounts, namely Standard, Bronze, Silver, Gold, Platinum and Premium. The minimum initial deposit amount is €250 for the Mini account, while the other five account types have much higher minimum initial capital requirements of €1,000, €2,500, €10,000, €25,000 and €50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The maximum leverage offered by TradeGM is capped at 1:30, while for Professional Account, the leverage is up to 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
TradeGM claims to offer variable spreads from 0.1 pips and zero commission.
Trading Platform Available
Platforms available for trading at TradeGM are MetaTrader5 and GM Trader for web, iOS and Android. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The minimum initial deposit requirement at TradeGM is said to be €250. However, the broker didnt directly reveal anything about the acceptable deposit and withdrawal methods on the site.
Customer Support
TradeGMs customer support can be reached by telephone: +36 16777463, email: support@tradegm.eu. You can also follow this broker on social networks such as Twitter, Facebook and YouTube. Company address: H-1072 Budapest, Rákóczi út 42.
Risk Warning
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
