Risk Warning

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.

Overview of GMI Edge

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:

Pros and Cons

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.

Is GMI Edge Legit？

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.

Market Instruments

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.

Account Types

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.

Leverage

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.

Spreads & Commissions

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.

Trading Platform

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.

Deposit & Withdrawal

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.

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.

Conclusion

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.

Frequently Asked Questions (FAQs)

*Please note that the information in this table is subject to change and you should always refer to the broker's official website for the most up-to-date information.

STARTRADER Information

STARTRADERL's website is operated by three companies, all belonging to the same Group of Companies, which include:

- Startrader (Cy) Ltd

Registration No: HE 421001

Registered Address: 160 Archbishop Makariou III, 1st Floor, 3026 Limassol, Cyprus.

- STARTRADER International PTY Limited

Registration No: 66663183

Physical Address: Level 35, 31 Markets Street, Sydney NSW 2000, Australia.

Registration Address: Flat/RM A, 12/F, ZJ 300, 300 Lockhart Road, Wanchai, Hong Kong.

Tel: +61 2 9925 4396.

- STARTRADER Limited

Registration No: 8427362-1

Physical Address: Block B, Room 2, No.2, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Register Address: Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Tel: +248 4325865

Email: info@startrader.com

Pros & Cons

STARTRADER offers a wide range of tradable instruments, and generous leverage up to 1:500. The broker also provides multiple trading platforms with advanced charting tools and technical analysis indicators, as well as educational resources for traders.

However, there are some downsides, such as regional restrictions and limited account types offered.

Is STARTRADER Legit？

STARTRADER has three entities under regulation:

STARTRADER PRIME GLOBAL PTY LTD is regulated by the Australia Securities & Investment Commission(ASIC) under regulatory license number: 421210.

STARTRADER Limited is offshore regulated by the Seychelles Financial Services Authority (FSA) under regulatory license number SD049.

STARTRADER INTERNATIONAL PTY LTD is regulated by the Financial Sector Conduct Authority (FSCA) under regulatory license number 52464.

These regulatory bodies typically require brokers to follow strict operational guidelines intended to protect traders.

Further adding to the broker's credibility is its employment of security measures like segregated client accounts, which refers to the practice of keeping client funds separate from the company's operating funds. It also guarantees negative balance protection, preventing clients from losing more than their account balance. The use of SSL encryption technology ensures secure data transfer.

All these factors suggest that STARTRADER is not a scam and can be considered a legit broker.

However, it's crucial for traders to be cautious and alert. This includes understanding the broker's terms and conditions and researching online reviews to gain a comprehensive understanding of other traders' experiences with the broker.

Market Intruments

STARTRADER offers 800+ market instruments for traders to choose from, providing ample opportunities for traders to invest and diversify their portfolios.

• Forex: STARTRADER offers over 50 currency pairs, including major, minor, and exotic currency pairs for forex trading, including EUR/USD, GBP/USD, USD/JPY, and AUD/CAD, among others.
• Stocks: The broker also provides access to over 700 different stocks, allowing traders to take a position on a wide range of companies across various sectors.
• Commodities: STARTRADER offers more than 10 commodities, providing an opportunity for traders to engage in the trading of both soft (like wheat, cocoa, or coffee) and hard commodities (like gold, oil, or natural gas).
• Indices: They also provide more than 20 indices, tracking various segments of the financial markets, both globally and regionally.
  

Account Types

Apart from free demo accounts, STARTRADER offers two primary live account types.

The Standard account is designed for traders who prefer fixed spreads, and is well-suited for beginners or traders who prefer a simpler trading experience. This account type offers spreads from 1.3 pips and leverage up to 1:500, with no minimum deposit disclosed.

The ECN account, on the other hand, is tailored to more experienced traders who require a more sophisticated trading experience. This account type offers spread as low as 0.0 pips and allows traders to access the interbank market, which can provide greater liquidity and potentially tighter spreads. It also offers competitive leverage up to 1:500 and no minimum deposit is disclosed.

The accepted currencies are AUD, CAD, EUR, GBP, USD, and NZD.

How to Open an Account？

Opening an account with STARTRADER is a straightforward and easy process that can be completed in just a few simple steps.

Step 1: First, visit the STARTRADER website and click on the “OPEN LIVE ACCOUNT”or “OPEN FREE DEMO ACCOUNT” button. You will be prompted to fill out a registration form, which requires you to provide some personal information, such as email address and password.

Step 2: Next, you will need to provide some additional information, such as your preferred account type (Standard or ECN), currency preference, and trading platform preference.

Step 3: After completing the registration form, you will be asked to verify your email address by clicking on a link sent to your email inbox. You will then need to provide proof of identity and address by uploading a copy of your government-issued ID and a recent utility bill or bank statement.

Step 4: Once your account is approved, you can fund your account and start trading immediately. STARTRADER supports a range of payment methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc.

Leverage

TARTRADER offers a maximum trading leverage of up to 1:500, which is still relatively high compared to other brokers in the industry. While leverage can magnify potential profits, it can also increase the risks associated with trading.

Spreads & Commissions

While STARTRADER does offer transparent trading fees, the exact commission charges for ECN accounts are different due to the instrument being traded and other factors such as account activity.

For Standard accounts, there are no commissions charged on trades made through the account. Instead, the broker makes money through the spread, which is the difference between the bid and ask price of a financial instrument. The spreads offered by this broker starts from 1.3 pips.

For ECN accounts, the spreads offered by the broker are typically lower, starting from as low as 0.0 pips. However, traders are charged a commission $7 per lot traded.

Trading Platforms

STARTRADER provides four distinct trading platforms: the widely popular and extensively-used MetaTrader 4 (MT4), its newer and more sophisticated version, MetaTrader 5 (MT5), its proprietary WebTrader platform and App.

MT4 (Windows, Mac, iOS, Android, Webtrader) is renowned for its advanced technical analysis tools, algorithmic trading capabilities, and high-speed trade execution, making it a favored platform amongst traders of all experience levels. It offers traders an array of features, such as customizable charting, real-time quotes, and a vast selection of technical indicators.

MT5 (Windows, Mac, iOS, Android, Webtrader), on the other hand, is the latest version of the MetaTrader platform, offering even more advanced features and capabilities, including enhanced charting and analytical tools, multi-currency support, and a more extensive selection of timeframes. It is also designed to support additional types of assets such as stocks and futures, providing traders with greater market diversity.

STARTRADER's proprietary WebTrader platform, is a web-based trading platform that offers traders a wide range of tools, including real-time quotes, charting tools, and technical analysis indicators, while also providing a user-friendly interface that is easy to navigate.

STARTRADER also provides an App, allowing users to trade anytime and anywhere. It is available for iOS and Android platforms.

Copy Trading

STARTRADER's offering of a copy trading feature is great for traders who prefer to capitalize on the expertise of successful traders. Copy trading allows traders to directly copy the positions opened and managed by another selected trader. Hence, when the copied trader makes a trade, the same trade is automatically executed in the copying trader's account.

This can be particularly beneficial for novice traders who are still learning the ropes or people who don't have the time to study and monitor the markets consistently. It provides a form of passive management and can be a way to learn and understand more about trading strategies in real-time.

However, it's crucial to remember that all trading involves risks and just because a trader was successful in the past does not guarantee they will be in the future. Always practice risk management and ensure to align copy trading actions with your risk tolerance and financial goals.

Trading Tools

STARTRADER offers a suite of impressive trading tools that contribute towards a comprehensive and efficient trading experience.

They provide a Virtual Private Server (VPS) service which allows traders to run automated algorithmic strategies continuously 24/7 on a virtual machine, facilitating more robust connectivity and faster order execution.

Their economic calendar is a vital tool for fundamental analysis, helping traders track important economic events that have the potential to impact financial markets. This can be beneficial for planning trades and managing risk.

In addition, their news room serves as a source for real-time market news, keeping traders updated about significant developments that can cause market volatility.

Deposit & Withdrawal

STARTRADER supports a variety of deposit and withdrawal methods for its clients, with a minimum deposit requirement of $50. The broker allows deposits via several methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc. There are zero deposit fees on most payment methods.

Deposits made via bank wire transfer can take 3-5 business days to clear, while deposits made via other methods are typically processed instantly. For withdrawals, clients can use the same methods as for deposits, with processing times varying depending on the chosen method.

To withdraw funds, you should log to “My account” with your username and password. Initiate the request to withdraw funds. Here are some important notifications you should notice when withdrawing funds:

• Withdrawal forms received after 21:00 (GMT) will be processed the following day. If these are received before 07:30 (GMT) theyll be processed on the same day.
• Any International Telegraphic Transfer (TT) fees charged by the banking institution are passed onto the client. Most International TTs are approximately $20.

Bonus & Promotions

There are many promotions available at STARTRADERL, including 20% cumulative bonus up to $10,000, 50% first deposit bonus, 20% subsequent deposit bonus. The registration period is from 00:00 May 13th, 2024 to 23:59 December 31st, 2024 (based on MT4 time).

Affiliate switch bonus is also offered, from 00:00 01.08.2024 to 23:59 31.12.2024 (based on MT4 time). But it is only for FX pairs, Gold, Silver, Oil products and Index. Commodities and Crypto are not applicable.

You can find more detailed info about promotions on their site.

Education

STARTRADER offers some educational resources designed to help traders improve their knowledge and skills in the Forex and CFD markets. These resources include webinars and a knowledge center.

The educational webinars are conducted by market experts who provide traders with insights and analysis on a range of topics, from technical analysis to risk management. The webinars are designed to help traders stay up to date with market developments and make informed trading decisions.

In addition to webinars, STARTRADER also provides traders with a knowledge center, which includes some educational materials such as e-books, videos, and tutorials. These materials are aimed at traders of all levels, from beginners to advanced traders, and cover a wide range of topics such as trading strategies, market analysis, and risk management.

Customer Service

Contact Channel	Details
	LIve chat
	Contact form
	info@startrader.com
	https://www.facebook.com/startrader.intl/
	https://www.youtube.com/@Startrader.international/feature
	https://www.instagram.com/startrader.international/
	https://www.linkedin.cn/incareer/company/startrader-global/
	https://twitter.com/STARTRADER_int
	https://www.tiktok.com/@startraderofficial
	https://t.me/STARTRADER_Official

Q&A

Risk Warning

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 provided in this review may be subject to change due to the constant updating of the company's services and policies.