Score
GMI Edge
Vanuatu|5-10 years| https://gmiedge.com/
Website
Rating Index
Influence
Influence
D
Influence index NO.1
Thailand 2.62Surpassed 15.40% brokers
Contact
Licenses
Single Core
1G
40G
Disclosure
Danger
Contact number
1800 282260
+62-21-27899836
1800 012648
Other ways of contact
Broker Information
More
Global Prime Limited
GMI Edge
Vanuatu
Pyramid scheme complaint
Expose
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The VanuatuVFSC regulation (license number: 14647) claimed by this broker is suspected to be clone. Please be aware of the risk!
- The Vanuatu VFSC regulation with license number: 14647 is an offshore regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
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| Maximum Leverage | -- |
| Minimum Deposit | $25 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $100 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
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| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $15 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | -- |
| Minimum Deposit | $25 |
| Minimum Spread | -- |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Stop Out
1.03%
Stop Out Symbol Distribution
6 months
Sources
Language
Mkt. Analysis
Creatives
WikiFX Data provideGMI Edge · Company Summary
| Feature | Information |
| Registered Country/Region | Vanuatu |
| Found | 2018 |
| Regulation | Suspicious clone |
| Market Instrument | Gold, oil, Silver, forex and indices |
| Account Type | Cent, Standard, Standard Bonus and ECN |
| Demo Account | yes |
| Maximum Leverage | 1:2000 |
| Spread (EUR/USD) | Above 2 pips |
| Commission | Vary on the account type |
| Trading Platform | MT4 for Windows, MacOS, Android and Web |
| Minimum Deposit | $15 |
| Deposit & Withdrawal Method | Local Banks Transfer, Neteller and Skrill |
Overview of GMI Edge
Founded in 2018, GMI Edge is an offshore trading broker that provides online trading via MetaTrader4 (MT4) on a variety of different asset classes including forex, indices, precious metals, energies and CFDs.
Traders can access leverage ratios ranging from 1:500 to 1:2000, depending on the account type. However, explicit information about spreads is not readily available on the GMI Edge website. The broker offers the popular MetaTrader 4 (MT4) trading platform, which allows traders to customize their strategies. Deposits and withdrawals can be made through various methods, including local bank transfers, Neteller, and Skrill.
Here is the home page of this brokers official site:
Pros and Cons
| Pros | Cons |
| Wide range of market instruments | Lack of proper regulatory oversight |
| Different types of trading accounts | Suspicious and questionable regulatory license |
| Variety of leverage options | Lack of information of spreads |
| Availability of MetaTrader 4 (MT4) platform | Li |
| Additional Multi-Account Manager (MAM) platform | |
| Mobile app for account management |
Is GMI Edge Legit?
GMI Edge is not regulated by a recognized financial regulatory authority. The claimed regulation by the Vanuatu Financial Services Commission (VFSC) with license number 14647 is suspected to be a clone and is not considered valid.
Market Instruments
GMI Edge offers a selection of market instruments for trading, including:
1. Gold, Oil, Silver: Traders have the opportunity to trade in commodities such as Gold, Oil, and Silver. These instruments are available for trading 23 hours a day, and GMI Edge aims to provide competitive costs in this regard.
2. Forex: GMI Edge enables traders to participate in the foreign exchange market. Major currency pairs such as the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Australian Dollar, and Canadian Dollar are available for trading. GMI Edge offers high leverage and the option of Swap Free accounts.
3. Indices: GMI Edge allows traders to access global financial markets through Contracts for Difference (CFDs) on various indices. Some of the indices available for trading include Dow Jones, NASDAQ, S&P, FTSE, DAX, CAC, NIKKEI, Hang Seng, and China A50.
| Pros | Cons |
| Wide selection of commodities, including Gold, Oil, and Silver | Lack of transparency regarding trading costs |
| Availability of major currency pairs for forex trading | Limited information about spreads |
| Access to global financial markets through various indices | |
| Opportunity to trade 23 hours a day |
Account Types
GMI Edge offers four different types of trading accounts: ECN, Cent, Standard, and Standard Bonus.
ECN ACCOUNT
The ECN account requires a minimum deposit of $100 and offers leverage up to 1:500. It has a commission fee of $4 per lot and allows for a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The ECN account does not offer a swap-free option.
CENT ACCOUNT
The Cent account has a minimum deposit requirement of $15 and provides leverage up to 1:1000. It does not charge any commission and allows a maximum order size of 200 lots on MT4. The Cent account also offers a swap-free option.
STANDARD ACCOUNT
The Standard account requires a minimum deposit of $25 and offers leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4 and 1,000 lots on GMI Edge. The Standard account does not provide a swap-free option.
STANDARD BONUS ACCOUNT
The Standard Bonus account also requires a minimum deposit of $25 and provides leverage up to 1:2000. It does not charge any commission and allows a maximum order size of 500 lots on MT4. The Standard Bonus account does not offer a swap-free option.
Leverage
The specified leverage for different account types at GMI Edge varies between 1:500 and 1:2000. Clients on the Cent account can experience leverage of 1:1000, the Standard and Standard Bonus accounts can enjoy the maximum leverage of 1:2000, while the ECN accounts have a leverage ratio of 1:500.
Spreads & Commissions
Unlike most decent brokers who present their pricing and trading conditions, GMI Edge has not disclosed its spreads on the website.
As for the commission, there is no commission on the Cent, Standard and Standard Bonus accounts, while 4 per lot on the ECN account.
Trading Platform
GMI Edge provides its traders with the popular MetaTrader 4 (MT4) trading platform. This widely recognized platform is available for all types of GMI Edge accounts. Traders can take advantage of the features and functionality offered by MT4 to enhance their trading experience.
MT4
With MT4, traders have the option to create their own algorithms or utilize expert advisors (EAs) to automate their trades. This allows for customized trading strategies and the ability to follow other traders. Traders can seamlessly connect to the trading platform through the GMI Edge app, ensuring a smooth trading experience across different devices. The GMI Edge app also provides a convenient way to fund trading accounts that use MT4.
Multi-Account Manager (MAM) platform.
In addition to MT4, GMI Edge also offers the Multi-Account Manager (MAM) platform. This platform is designed for money managers who wish to trade multiple accounts with ease. With MAM, money managers can execute trades across multiple accounts with just one click. The platform also allows for automated performance fees billing and offers trade allocation options based on lot size, equity, or balance.
GMI Edge mobile app
To further enhance accessibility and convenience, GMI Edge has developed the GMI Edge mobile app. This app allows traders to access their trading accounts anytime and anywhere. Traders can trade various instruments including forex, gold, silver, and indices, among others, using the app. The GMI Edge app also offers easy ways to deposit, withdraw, and transfer funds, providing traders with comprehensive account management capabilities in one place.
Deposit & Withdrawal
GMI Edge provides various options for depositing and withdrawing funds from your trading account. These options include Local Banks Transfer, Neteller, and Skrill. The minimum initial deposit requirement is $10 for Neteller and Skrill, while it is $15 for Local Banks Transfer.
The deposit processing time is typically instant, allowing you to quickly start trading after funding your account.
For withdrawals, the minimum withdrawal amount is 50 MYR for bank transfers, and the processing time is between 8am to 6pm daily. There is a 4% fee for withdrawals via Neteller and Skrill, with a minimum withdrawal amount of $10. Withdrawals made through these methods are also processed instantly.
GMI Edge provides customer support through various channels. Traders can reach out to their customer support team via email at cs.global@gmimarkets.com. Additionally, a live chat option is available for immediate assistance. For those who prefer to send a direct message, an online contact form is provided.
Conclusion
In conclusion, GMI Edge is an unregulated broker with a suspicious regulatory license and is not considered a legitimate trading option. Trading with an unregulated broker carries significant risks, as they may lack investor protection and oversight. Although GMI Edge offers a variety of market instruments and different types of trading accounts with varying leverage options. Additionally, the absence of a recognized financial regulatory authority and limited customer support contact information further bring risks.
Frequently Asked Questions (FAQs)
| Q 1: | Is GMI Edge regulated? |
| A 1: | No. GMI Edge holds a suspicious clone Vanuatu Financial Services Commission (VFSC) license. |
| Q 2: | At GMI Edge, are there any regional restrictions for traders? |
| A 2: | Yes. GMI Edge does not accept clients from the United Kingdom and the United States among other countries. |
| Q 3: | Does GMI Edge offer demo accounts? |
| A 3: | Yes. |
| Q 4: | Does GMI Edge offer the industry-standard MT4 & MT5? |
| A 4: | Yes. GMI Edge supports MT4. |
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