GMI fees, spread commissions minimum deposit is US Dollar 2000 with swap fees that start at 2% spreads from 0.0 pips.
GMI does not charge any deposit fees and there is no indication of withdrawal fees waived.
The GMI website does not provide a substantial amount of information relating to the commissions, spread list, and/or other fees that may be charged by this broker.
For a more definitive breakdown of fees, traders will have to contact GMI directly before considering opening an account with this broker.
GMI offers a variety of accounts from which traders can choose, with their features listed as follows:
- Standard – minimum deposit of US Dollar 2,000, leverage between 1:50 and 1:200, minimum order size is 0.01 lots with no restriction on the trading type.
- Plus Account – minimum deposit of US Dollar 5,000, leverage between 1:50 and 1:200, minimum order size is 0.01 lots with no restriction on the trading type.
- Pro-Account – minimum deposit of US Dollar 30,000, leverage between 1:50 and 1:200, minimum order size is 0.01 lots with no restriction on the trading type.
- ECN Account – minimum deposit of US Dollar 100,000, leverage between 1:50 and 1:100, minimum order size is 1,000 contracts with no restriction on the trading type.
Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.
Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day. The typical fee as a cost is approximately 2% for short positions.
It is unclear whether GMI offers the option of an Islamic account to traders who are of Muslim faith and who operate under Sharia Law.
GMI does not offer traders spread betting and therefore spread betting fees do not apply to this broker.
GMI does not charge any deposit fees and there is no indication of withdrawal fees waived. Traders will have to contact the broker with regards to additional fees such as inactivity fees or fees about account maintenance and management.
Traders are advised to ensure that there are no fees waived by their payment provider in terms of depositing funds from their bank account to their trading account in addition to transaction costs when withdrawing funds and having them transferred to their bank account.
Pros and Cons
|Acclaimed best broker especially for institutional clients||The website is not informative with regards to fees and spreads|
|Award-winning broker||High minimum deposit|
|Commission information not provided|
|Additional fee information not available|
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How many instruments can I trade with GMI?
You can trade the following financial instruments:
- CFDs on Crude Oil, Metals, and Indices.
Which platforms are supported by GMI?
GMI provides the following popular trading platforms:
- MetaTrader 4
Does GMI offer leverage?
GMI offers maximum leverage of up to 1:200.
What spreads can I expect with GMI?
This information cannot be gathered from the GMI website, but brokers such as GMI often offer spreads from as little as 0.0 pips.
Does GMI charge commission?
Information about commissions cannot be gathered from the GMI site, but often brokers charge set commissions on ECN Accounts.
Is GMI regulated?
Yes, GMI is regulated by the highly reputed FCA in the UK, VFSC in Vanuatu, and SFC in Hong Kong.
Is GMI a recommended forex trading broker for experts and beginners?
No, GMI only caters to institutional clients.
What is the overall rating out of 10 for GMI?