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Do you want to know which is the better broker between GMI Edge and Dukascopy Bank ?
In the table below, you can compare the features of GMI Edge , Dukascopy Bank side by side to determine the best fit for your needs.
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of gmi-edge, dukascopy lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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 |
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. GMI Edge is the trading name of Global Prime Limited, a regulated and licensed dealer in securities by the Vanuatu Financial Services Commission (VFSC, suspicious clone), with regulatory license number: 14647. GMI Edge is part of the GMI Group of companies. The GMI brand was established in 2009.
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, utilize expert advisors, and access a wide range of analytical tools. GMI Edge also provides the Multi-Account Manager (MAM) platform for money managers to trade multiple accounts.
Deposits and withdrawals can be made through various methods, including local bank transfers, Neteller, and Skrill. The minimum deposit requirement varies based on the chosen method. GMI Edge has a mobile app for convenient account management and trading on the go. However, customer support contact information is limited to email and live chat, with no disclosed telephone numbers or company address.
Considering the lack of regulatory oversight and transparency, it is advisable for traders to approach GMI Edge with caution and consider alternative brokers with a solid regulatory status and more transparent operations.
Here is the home page of this brokers official site:
GMI Edge has both advantages and disadvantages that traders should consider. One of the pros is the availability of a wide range of market instruments, including commodities, major currency pairs, and indices, providing traders with diverse trading opportunities. Additionally, the broker offers different types of trading accounts with varying leverage options, catering to the individual preferences and risk tolerance of traders. The provision of the popular MetaTrader 4 (MT4) platform and the additional Multi-Account Manager (MAM) platform for money managers enhance the trading experience. Furthermore, GMI Edge provides a mobile app for convenient account management and trading on the go.
On the downside, GMI Edge lacks proper regulatory oversight, as it is not regulated by a recognized financial regulatory authority. The claimed regulatory license from the Vanuatu Financial Services Commission (VFSC) is suspicious and not considered valid, which raises concerns about the level of investor protection and oversight provided by the broker. Moreover, the broker does not disclose explicit information about spreads, which makes it difficult for traders to assess the trading costs upfront. Limited customer support options, with only email and live chat available and no disclosed telephone numbers or company address, can also be a drawback for some traders.
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 transparency regarding spreads |
Availability of MetaTrader 4 (MT4) platform | Limited customer support options |
Additional Multi-Account Manager (MAM) platform | No disclosed telephone numbers or company address |
Mobile app for account management |
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. The VFSC is an offshore regulatory body, and trading with an unregulated broker carries significant risks. It is important to note that unregulated brokers may not provide the same level of investor protection and oversight as regulated brokers. Therefore, it is advisable to exercise caution and consider alternative regulated brokers with a solid regulatory status when choosing a trading partner.
GMI Edge offers a selection of market instruments for trading. These instruments include:
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 |
GMI Edge offers four different types of trading accounts: ECN, Cent, Standard, and Standard Bonus. Each account type has its own minimum deposit requirement, contract size, leverage options, and other features.
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.
Traders should carefully consider their trading preferences and risk tolerance when choosing the most suitable account type for their needs.
Pros | Cons |
Multiple account options with varying features | Lack of a dedicated swap-free option for all account types |
Different leverage options to suit individual preferences | Commission fee of $4 per lot for ECN account |
Low minimum deposit requirement for Cent account | Limited maximum order size for Cent account (200 lots) |
No commission charges for Standard and Standard Bonus accounts | Lack of swap-free option for Standard and Standard Bonus accounts |
High leverage of up to 1:2000 available for Standard and Standard Bonus accounts | Limited maximum order size for Standard and Standard Bonus accounts (500 lots on MT4 and 1,000 lots on GMI Edge) |
Variety of account types cater to different risk tolerances and trading preferences |
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.
Keep in mind that using leverage ratios that high is very dangerous, especially for inexperienced traders. Margin trading is risky, so make sure you understand how leverage works before you lose everything.
Unlike most decent brokers who present their pricing and trading conditions, GMI Edge has not disclosed its spreads on the website. So, we had to register a demo account to see the trading costs with this broker. The benchmark EUR/USD spread of GMI Edge is well above 2 pips, which is not competitive pricing.
As for the commission, there is no commission on the Cent, Standard and Standard Bonus accounts, while 4 per lot on the ECN account.
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.
MT4 offers a comprehensive range of analytical tools that traders can utilize to analyze various aspects of the markets they trade. These tools enable traders to perform in-depth market analysis and make informed trading decisions.
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.
Pros | Cons |
Availability of popular MetaTrader 4 (MT4) platform | Potential learning curve for beginners |
Ability to create custom algorithms and use expert advisors (EAs) | Limited to MT4 platform, no alternative platforms offered |
Seamless trading experience across different devices through GMI Edge app | Mobile app may have limited functionality compared to desktop version |
Comprehensive range of analytical tools for market analysis | Lack of advanced features compared to other platforms |
Multi-Account Manager (MAM) platform for easy management of multiple accounts | Limited information available on MAM platform features and capabilities |
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.
Pros | Cons |
Various deposit and withdrawal options | Minimum withdrawal amount for bank transfers |
Instant deposit processing time | 4% fee for withdrawals via Neteller and Skrill |
Minimum initial deposit requirement of $10 for Neteller and Skrill | Withdrawal processing time limited to specific hours |
Instant withdrawals via Neteller and Skrill | |
Minimum withdrawal amount of $10 for Neteller and Skrill |
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. However, it is worth noting that GMI Edge does not disclose additional contact information such as telephone numbers or a company address, which is commonly shared by more transparent brokers.
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, their lack of transparency regarding spreads and trading conditions is a disadvantage. Additionally, the absence of a recognized financial regulatory authority and limited customer support contact information further raise concerns. Traders are advised to exercise caution and consider alternative regulated brokers with a solid regulatory status and transparent practices when choosing a trading partner.
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. |
Q 5: | What is the minimum deposit for GMI Edge? |
A 5: | The minimum initial deposit to open an account is $15. |
Q 6: | Is GMI Edgea good broker for beginners? |
A 6: | No. GMI Edge is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations. Take care! |
Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland. The bank specializes in providing cutting-edge internet-based and mobile trading services, with a strong focus on foreign exchange, CFDs, and binary options. Additionally, the bank offers a wide range of banking and financial services, all supported by their in-house technological solutions.
Dukascopy Bank was established on November 2, 2004, in Geneva by Andre and Veronika Duka, both Swiss nationals residing in Geneva who continue to maintain a 99% ownership stake in the company. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities firm.
Dukascopy Bank fully owns Dukascopy Europe IBS AS, a European licensed brokerage company based in Riga and Dukascopy Japan, a Type-1 licensed broker located in Tokyo. In addition to its Geneva Headquarters, Dukascopy Bank has offices in Riga, Tokyo and Hong Kong. Currently, Dukascopy Group employs over 300 staff.
The Dukascopy Group primarily offers online and mobile trading services through the SWFX - Swiss FX Marketplace, which is Dukascopy's proprietary ECN (Electronic Communication Network) technological solution and a registered trademark.
Dukascopy main features | |
☑️Regulations | FINMA (Switzerland), JFSA (Japan), FCMC (Latvia) |
💰 Account currency | USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
🗺 Supported Languages | English, Spanish, German, French, Arabic, Russian, Portuguese, Japanese, Chinese, Slovak, Czech, Polish, Italian, Hungarian |
📊 Accounts | ECN accounts with a minimum deposit requirement of $100 - JForex4, MT4, PAMM, Binary options (all available for demo testing). |
💰 Products (CFD) | Currencies, Commodities, Indices, ETFs, Stocks, Bonds, Crypto |
💵 Min Deposit | $100 (Dukascopy Bank SA), $100 (Dukascopy Europe IBS AS) |
💹 Margin Call / Stop Out: | 100%/200% |
📈️ Min Order | 0.01 |
💱 Spread | From 0.1 pips for EUR/USD |
💹 Max Leverage | From 1:1 to 1:200 on weekdays/ from 1:1 to 1:60 on weekends (JForex4 platform - limitations may apply), 1:25 (Dukascopy Japan) |
🖥 Trading Desk Type | All trading orders are executed fully automatically by the trading system. Order execution is STP (Straight-Through Processing) without any human intervention |
📊 Trading Platforms | JForex4 and MT4 platform, both are available for desktop and mobile. |
💳 Deposit Options | Wire Transfer (SWIFT, SEPA), Debit/Credit Card, Cryptocurrencies, Skrill, Neteller, Bank guarantee |
💳 Withdrawal Options | Bank Transfer, Transfer to crypto exchange, Skrill, Neteller, Payment Card |
🕑 Time to Withdrawal | Withdrawal request is processed within 1 working day |
🕝 Time to Open an Account | The deposit is processed within 1 working day |
₿ Cryptocurrencies | Bitcoin, Cardano, Litecoin, Stellar, Dash, Enjin Coin, TRON, Uniswap, EOS, Ethereum, Basic Attention Token, Chainlink, Polygon |
🗓 Foundation Year | 2004 (Geneva, Switzerland) |
🎁 Contests and bonuses | Yes |
Dukascopy offers an exceptional trading experience that is worth every trader's attention. With a client-first approach, Dukascopy provides numerous advantages, making them a standout choice for anyone looking to enter the financial markets. Dukascopy's commitment to cost-efficiency is evident through their low spreads, allowing for savings on trading costs. Swift execution ensures obtaining the best possible prices, providing a competitive advantage in trades. Additionally, with deposit protection of up to CHF 100,000, you can trade with peace of mind.
The unique trading platform, JForex4, Dukascopy's proprietary solution, is user-friendly, making trading accessible even for beginners. JForex4 presents over 200 technical indicators and trading widgets to help in staying informed about potential opportunities. With support for minute timeframes like ticks and seconds, it is perfect for scalping. Dukascopy's 19 years of experience and Swiss banking license instill trust and security. With over 1200 instruments, leverage up to 1:200, and 24/7 live trading support, Dukascopy stands as a trusted partner to guide traders through their trading journey.
Moreover, Dukascopy offers a great feature – detailed historical price feed data makes it easier to develop and test trading strategies. This data covers various financial instruments, helping traders make informed decisions and reducing the risk of price manipulation. Dukascopy's extensive data archive is a useful resource for creating trading strategies, especially for high-frequency trading, and provides practical insights.
With such a comprehensive offering, Dukascopy is the go-to choice for transparent and professional trading services. Make a smart move and open an account today!
Attractive trading conditions |
Client funds protected up to CHF 100,000, with EUR 20,000 cover for Dukascopy Europe. |
Online account opening with video identification |
Accumulating liquidity from various sources (banks, brokerage companies, liquidity providers, internal liquidity pool) |
ECN accounts with a minimum deposit requirement of $100 - JForex4, MT4, PAMM, Binary options (all available for demo testing). |
A wide range of free financial information and other attractive resources is available through its website, including Dukascopy TV |
Extensive variety of trading platforms, JForex4, MT4 (available for desktop and mobile) |
Manual and automated trading and trading directly from the chart |
Hedging and scalping allowed |
Slippage control |
Swap free accounts upon request (conditions apply) |
200 indicators and chart studies and automated trading historical tester |
Wide range of trading orders: MIT, limit orders, eco and TP/SL orders |
Deposit bonus up to 100% |
Leverage up to 1:200 |
Dukascopy regulations
Dukascopy is strictly supervised and regulated by esteemed regulatory bodies. The regulatory authorities play a pivotal role in ensuring Dukascopy’s compliance with the highest standards of financial and securities industry practices.
Dukascopy's international presence is underlined by its licenses and oversight by regulatory authorities in different parts of the world:
Dukascopy Bank SA is licensed and regulated as a bank and as a securities firm by the Swiss Financial Market Supervisory Authority (FINMA), which is classified as a Tier-1 regulator.
Dukascopy Europe IBS AS is licensed and regulated by the Bank of Latvia, also recognized as a Tier-1 regulator.
Dukascopy Japan K.K. is licensed and regulated by the Financial Services Agency of Japan (JFSA), known as a Tier-1 regulator.
These regulatory bodies set specific requirements for Dukascopy, and the company has diligently complied with them since 2004. It is important to note that failure to comply with these requirements could result in the withdrawal of the bank's license. Regular audits are conducted to ensure adherence to Swiss laws. Dukascopy also ensures client security by providing deposit protection for amounts up to CHF 100,000, in line with Swiss financial service provider requirements.
Dukascopy is widely regarded as one of the safest brokerage firms. They maintain strict safety standards and hold official licenses from respected financial regulators. Routine audits by PKF for internal affairs and KPMG for financial records further solidify their commitment to safety and financial integrity.
In summary, Dukascopy's reputation as a trusted and stable entity is due to its adherence to three top-tier regulations, regular audits, stringent safety standards, and a strong commitment to transparency. These qualities make Dukascopy a reputable choice for investors around the world.
Trading terms for Dukascopy clients
Traders opt for Dukascopy due to its well-established reputation for providing a secure trading environment. Dukascopy Bank SA, headquartered in Switzerland, operates under the regulation of the Swiss Financial Market Supervisory Authority (FINMA). This regulatory oversight ensures strict adherence to financial standards and secures client accounts up to CHF 100,000.
Dukascopy takes pride in delivering favorable trading terms to its clients. By offering narrow spreads, cost-effective commissions, and access to abundant liquidity from numerous providers, Dukascopy enables traders to execute trades at competitive rates, ultimately increasing their profitability.
Dukascopy also permits traders to select from a range of trading accounts, including Standard, ECN, and Islamic accounts, to suit various trading styles and preferences.
Furthermore, in addition to the widely-used MT4 platform, Dukascopy presents its proprietary JForex4 trading platform, available for both desktop and mobile devices. This platform grants traders the flexibility to monitor and participate in the markets from anywhere, ensuring they never miss a trading opportunity. Dukascopy's JForex4 mobile platform offers real-time quotes, comprehensive order management features, and full account accessibility.
With Dukascopy, you can transfer funds directly from the JForex platform to a multi-currency banking account (MCA), without any associated fees. The MCA account supports various payment methods, including card and cryptocurrency transactions.
Trading features | |
🔧 Instruments | 1200+ instruments including: FX, Commodities (CFD), Indices (CFD), Bonds (CFD), Stocks (CFD), ETF (CFD), Crypto (CFD) |
🏛 Liquidity Provider | Liquidity providers are represented by centralized marketplaces and a number of banks which continuously provide ask and bid prices on the market. The sentiment ratio of this group is opposite to liquidity consumers data because, for each trade executed through SWFX, there are two equal and offsetting over-the-counter transactions |
⚡Lightning-fast order execution | Yes |
🎧 Customer support | 24h/7 multi-language support via chat, phone and email |
⭐ Other | A wide range of order types, including stop-loss and limit orders |
📱 Mobile trading | Yes |
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive gmi-edge and dukascopy are, we first considered common fees for standard accounts. On gmi-edge, the average spread for the EUR/USD currency pair is -- pips, while on dukascopy the spread is from 0.1.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
gmi-edge is regulated by VFSC. dukascopy is regulated by FSA,FINMA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
gmi-edge provides trading platform including Standard (Bonus),ECN,Cent,Standard and trading variety including --. dukascopy provides trading platform including MT4,JForex and trading variety including Forex, cryptocurrencies, CFDs, metals.