GMG Markets Review – is it scam or safe?

GMG Markets Review – is it scam or safe? explained by professional Forex trading experts the “ForexSQ” FX trading team

GMG Markets Review – is it scam or safe?

GMG Markets (or Global Markets Group) is a STP forex broker, which provides two account types. One of them is clearly aimed at less experienced traders, while the other is suitable for industry veterans. Here are the strong and weak sides of this broker:

GMG Markets Advantages

FCA regulation – This broker is overseen by the UK’s Financial Conduct Authority, one of the top rated financial watchdogs. This is the institution at which some of the best brokers, like HYCM, XM and FxPro are also registered.

STP business model – This broker only acts as an intermediary and does not take the other side of clients’ trades. This removes the potential for conflict of interest.

Relatively tight spreads – The spreads at GMG Markets start form slightly over a pip. This level is very competitive in the current environment.

MT4 trading platform – This broker offers the popular MetaTrader4 (MT4) platform. We generally like this platform, as it provides great charting, with lots of custom tools being available.

High leverage – The 1:400 leverage offered by GMG Markets can be considered suitable for most traders. In fact, we would advice you to use it with caution, as such a level can lead to losses.

A lot of payment methods – This broker accepts payments by Bank Transfer, Credit Card and a few other online solutions, such as Neteller, Skrill, Bpay, Netbank and China UnionPay.

GMG Markets Disadvantages

Relatively high minimum deposit – In order to open a new account with GMG Markets, one must deposit at least $200, which some people will find high. Other brokers have much lower requirements, like IG, another FCA-regulated broker which accepts clients, regardless of the deposit amount.

Issues on some charts – The historical charts provided by GMG Markets have some flaws. While everything seems fine on the lower timeframes, once you get to the monthly, you can easily see “double bars” and non-existent spikes.

GMG Markets Review – is it scam or safe? Conclusion

For more information about GMG Markets Review – is it scam or safe? visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Is GMG Markets Review – is it scam or safe?

GMG Markets Review – is it scam or safe? Conclusion

For more information about GMG Markets Review – is it scam or safe? visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Is GMG Markets Review – is it scam or safe?

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