No, a GMI sign-up bonus is not offered for first-time sign-ups or beginner traders.
Traders who register a real account with GMI are not offered either a first-time sign-up bonus, a deposit bonus, or a welcome bonus.
Brokers often offer these broker bonuses to new traders to draw in more customers in addition to encouraging trading activities. Offering a deposit or welcome bonus is the best way in which to assure traders that they will receive some money back depending on the initial deposit made.
Various brokers also offer no deposit bonuses to traders in the same effort to draw in more customers and bonuses like this may aid not only the broker in acquiring new clients but also traders who have strict budgetary restrictions.
Although GMI does not offer bonuses, rewards, promotions, or competitions traders should not be discouraged by this from registering for a real account as bonuses may still be in planning and development phases to be announced at a later stage.
GMI does not currently offer referral bonuses to new or existing traders who make use of the products and services offered by GMI.
Referral bonuses are offered by brokers to traders in an attempt to draw in new clients and expand their customer base.
Often these types of bonuses have strict criteria that will have to be fulfilled before the trader can benefit from referring a friend or family member.
Some of the criteria include, but is not limited to:
- The referral has to register a real account with the broker using a unique referral link so that the registration can be traced back to the trader.
- The referral bonus is only applicable should referrals register a real account as these bonuses are not available when using a demo account.
- A certain minimum deposit amount has to be made by the referral.
- The referral may be required to execute a certain number of trades on the new account before the trader becomes eligible to receive the referral bonus
Referral bonuses may also have a limited time in which they can be utilized by traders, perhaps in a given month that brokers see a decrease in activity and attempt to counter it by providing such bonuses.
Additional Bonuses, Promotions and Rewards
GMI does not currently cater for trading bonuses and there are no current initiatives to reward loyal customers.
Trading bonuses serve the purpose of encouraging traders to increase their trading activity in addition to trading higher volumes to gain access to bonuses that offer some cashback.
Pros and Cons
|Comprehensive and competitive trading conditions despite lack of bonuses and rewards||Welcome bonus, deposit bonus, no deposit bonus, and no other broker bonuses offered with first time sign up|
|No referral bonus offered|
|No trading bonus for loyal customers|
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GMI offers traders a comprehensive offer with regards to trading conditions with flexible leverage and trading size and ultra-tight floating spreads. Also, GMI is rated one of the best brokers, especially among expert traders.
What is the difference between a demo and a live trading account?
A demo account is an account offered by some trading platforms, which is funded with virtual money.
This allows a potential client to experiment with the trading platform and get familiar with its various features, before deciding to set up a real account.
These accounts are offered by various online trading platforms, including stock trading platforms, foreign exchange trading venues, and commodities exchanges.
Demo accounts are also widely used by more experienced traders who want to experiment with other asset classes. For instance, a trader might be experienced in stock trading but want to start investing in futures, commodities, or currencies.
Opening a demo account is a good option before opening a live account where you trade with real money in real-time.
Does GMI offer a demo account?
Can I convert my demo account to a live trading account with GMI?
This is not clear on the website.
Which live trading accounts does GMI offer?
GMI offers four trading accounts:
- Standard Account
- Plus Account
- Pro Account
- ENC Account
What are the available deposit currencies for a live trading account?