General Information
GemFX Markets is allegedly a global forex and CFD broker established and regulated in the UK since 2005, claiming to provide its clients with the maximum leverage up to 500:1, tight raw spreads from 0.0 pips, 0 commissions, over 10,000 tradable products with three different account types and the Vertex trading platform, as well as MAM/PAMM service and 24/5 customer support service.
GemFX Markets advertises that it offers more than 10,000 trading instruments throughout worldwide financial markets, including CFDs across forex, shares, metals, indices, commodities and cryptocurrencies.
Market Instruments
Account Types
There are three live trading accounts offered by GemFX Markets, apart from demo accounts, namely Standard, Raw ECN and Iress accounts. Opening a Standard or Raw ECN account requires the minimum initial deposit amount of A$100 or equivalent, while the Iress account with a much higher minimum initial capital requirement of A$1,000 or equivalent. Note that if you dont use the demo account for more than 30 days, it will automatically expire and you will not be able to reactivate it.
Leverage
The maximum leverage ratio provided by GemFX Markets is much higher than most brokers, up to 500:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
GemFX Markets reveals that the clients holding RAW ECN accounts can enjoy tight raw spreads from 0.0 pips. All charging no commissions.
Trading Platform Available
When it comes to trading platforms available,GemFX Markets gives traders Vertex Trader, Web Trader and mobile apps for iPhone and Android devices. Vertex software is available for both Windows and Mac desktop computers, while mobile apps are available for mobiles and tablets. The broker claims that Vertex Trader has a closed-loop trading structure with Back-office dealing desk, Client Terminal, Dedicated Hosting, White Labelling and Bridging Capabilities. By contrast, Vertex Web Trader is advertised as a trading station inheriting all the trading features, transparency and high accessibility to make a better alternative to traditional desktop-based traders. You dont need to download, install, or depend on any component, just run your browser, whatever it is at your operating system (OS), place a link, log in, and trade. While with Vertex mobile apps, trading can be done from anywhere and at any time through the right mobile terminals.
Deposit & Withdrawal
GemFX Markets accepts deposits via credit/debit cards like VISA and MasterCard, Bank Transfer (No deposit fees charged your International fees up to $50 for deposits more than $10,000), Neteller, Skrill, PayTrust, NganLuong.vn, FasaPay, Broker to Broker, South American Payment Method (Directa24), Perfect Money and WebMoney. While withdrawal with credit/debit cards like VISA and MasterCard, Bitcoin, Perfect Money, Neteller (2% up to $30 + country fees per $45,000 transaction), Skrill (A$10), FasaPay (0.50%), PayTrust (1.5%), NganLuong.vn (₫1,000 + 1 %), South American Payment Method (2%). The minimum deposit requirement is $100. Note that the broker will charge an internal fee of A$10 for global withdrawals. As for the processing time of deposit and withdrawal requests, they usually can be processed within 1 business day.
Customer Support
GemFX Markets customer support can be reached through telephone: +442031399100, Fax: +442031399100, email: support@gemfx.co, info@gemfx.co, account@gemfx.co, cash@gemfx.co, live chat or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like YouTube. Company address: 27old Gloucester St, Holborn, London WC1N3AF, UK.
