Business

FXGM South Africa

FXGM ZA South Africa is a brokerage firm that was founded in 2011 and processes only within the boundaries of South Africa implementing rules and regulations. It offers a golden chance to its client to trade forex with competitive market instruments and the best trading platforms with an overseeing forex broker. 

                                  Specification of FXGM South Africa

Ratings  3.4 stars out of 99 ratings
Found in 2011
Regulated by FSCA
Minimum deposit $200
Maximum leverage 1:200
Account currency ZAR
Broker type Market Maker
Deposit methods Credit/Debit Cards, Bank Wire transfer, PAYGATE, Skrill , Ozow, EFT

 

FXGM Regulation

FXGM South Africa is regulated by the Financial Service Conduct Authority or FSCA. It is also a member of Investor’s Compensation funds to ensure the security of the client’s funds. The most reliable firm is mainly designed to protect the trader’s claims and ensure that members of providers pay the trader’s claim parallel to the agreement. 

FXGM ZA Market instruments

FXGM offers remarkable market tools to assist traders in trading in a competitive atmosphere. It helps traders trade above 40 currency pairs, hard and soft Commodities, popular US and SA stocks, and nine major international indices. Moreover, you can also do crypto trading via six impactful cryptocurrencies. 

FXGM South Africa account types 

FXGM offers five account types; junior, premium, VIP, Executive, and Royal account types. Each comes with unique trading facilities and opportunities. 

Account types, including junior and premium, offer you essential trading elements such as free training, personal agent, and access to Trading Central. On the contrary, VIP, Executive and Royal accounts come with extra tighter spreads and the features of other charges. 

FXGM South Africa Minimum Deposit

The minimum deposit to open a trading account with FXGM varies according to selected account types. Here is the list of Minimum deposits based on account type. 

  • For junior account             $200-$9,999
  • For Premium account        $10,000-$29,999
  • For VIP account.                  $30,000-$49,999
  • For Executive account.       $50,000-$99,999
  • For Royal account.               Up to $10,000

But sadly, FXGM doesn’t offer any demo accounts, but you can connect to a personal service agent who provides you with all updates, news, investment suggestions, and trading strategies.

FXGM account currency and trading platforms

This firm only offers an account with a ZAR account. So, if you’d open a trading account with ZAR, you’ll not be subjected to any conversion fee. 

Moreover, it comes with two trading platforms; PROfit and Mobile PROfit. Both are highly traded and advanced platforms remarkably user-friendly. The best media for all levels of traders and offers a highly professional trading environment. 

Leverage 

FXGM let a trade to trade with the maximum leverage of 1:200. But keynote that leverage can change according to trading instruments. For example, for commodities, it can be 1:100, while you can have the force of 1:10 for cryptocurrencies. 

Deposit and withdrawal methods

FXGM offers client-friendly deposit and withdrawal methods and provides various services that are more convenient and fastest for their client. Deposit and withdrawals methods include Credit/Debit card, EFT, Bank transfer, Skrill, Ozow, and paygate. 

Final Verdict

FXGM ZA South is FSCA regulated firm and offers competitive market assets with a variety of account types. It is recommended for all levels of traders, including novice and advanced traders. It is comparatively more beneficial and convenient to trade. 

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