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Do you want to know which is the better broker between GMI Edge and MONEY SQUARE ?
In the table below, you can compare the features of GMI Edge , MONEY SQUARE 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, money-square 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:
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.
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. Deposits and withdrawals can be made through various methods, including local bank transfers, Neteller, and Skrill.
Here is the home page of this brokers official site:
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 information of spreads |
Availability of MetaTrader 4 (MT4) platform | Li |
Additional Multi-Account Manager (MAM) platform | |
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.
GMI Edge offers a selection of market instruments for trading, including:
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.
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.
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.
Unlike most decent brokers who present their pricing and trading conditions, GMI Edge has not disclosed its spreads on the website.
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.
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.
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.
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. Additionally, the absence of a recognized financial regulatory authority and limited customer support contact information further bring risks.
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. |
Registered Country/Region | Japan |
Regulation | FSA |
Minimum Deposit | No minimum initial deposit requirement |
Maximum Leverage | 1:25 |
Minimum Spreads | 0.1 pips on for USD/JPY |
Trading Platform | A Proprietary trading platform |
Demo Account | Yes |
Trading Assets | 15 currency pairs |
Payment Methods | Quick deposits and Transfer Payment |
Customer Support | Phone, Email, Online Chat |
General Information & Regulation
MONEY SQUARE, INC. was established in October 2002 as a company mainly engaged in over-the-counter foreign exchange trading. The company is authorized and regulated by the Financial Services Agency of Japan (FSA) under License No. 5010401112058. Also, MONEY SQUARE is authorized and regulated by the Securities Dealers Association of Japan under Financial Instrument Operator No. 2797 of Kanto Finance Bureau Director (Financial Instruments).
Market Instruments
Users can trade 15 currency pairs, generally 1,000 currency units at a time, except for 10,000 units for South Oran/JPY and Mexican Peso/JPY.
Spreads
MONEY SQUARE does not set transaction fees for users, but charges a certain amount of spreads, for example, from 0.1 pips for USD/JPY, 0.1 pips for GBP/JPY and 0.1 pips for NZD/JPY.
Margin & Leverage
If placing an order, individual users must guarantee at least 4% margin (25:1 leverage) on the value of each currency pair traded. However, corporate users have a slightly different margin rate, which is 0.96% for USD/JPY for example.
Open an account
MONEY SQUARE only supports online account opening, if a client needs to apply for both Forex and CFD accounts, then he/she needs to apply separately. In addition, MONEY SQUARE does not charge any account opening fees and account maintenance fees.
Trading Platform
MONEY SQUARE provides clients with access to the world financial markets through Tralipi®, a trading platform developed by the trader itself, which supports both PC and cell phones.
Deposit & Withdrawal
Users can make deposits via both quick deposit and transfer payments. MONEY SQUARE recommends the former because it is instant and free of charge, while the latter requires the client to bear the transfer fees. Note that MONEY SQUARE only accepts Japanese Yen for deposits/withdrawals.
Trading Hours
MONEY SQUARE offers forex trading hours based on the US market, including daylight saving time - Monday: 7:20am to 5:50am the next day; Tuesday to Friday: 6:20am to 5:50am the next day; winter time - Monday: 7:20am to 6:50am the next day; Tuesday to Friday: 7:20am to 6:50am the next day.
Pros & Cons
Pros | Cons |
FSA-regulated with long establishment | Limited currency trading |
A series of trading tools | Conservative leverage |
No transfer fees | Only accepting Japanese Yen for depsoits and withdrawals |
Competitive spreads | Non-MT4/MT5 trading platform |
No trading fees applied | |
No account opening & maintenance fees |
Frequently Asked Questions
Does MONEY SQUARE offer leverage?
MONEY SQUARE provides leverage capped at 1:25.
What deposit and withdrawal payment does MONEY SQUARE accept ?
MONEY SQUARE support payment through quick deposit and transfer payments.
Does MONEY SQUARE offer demo accounts ?
No clear information about this part is disclosed.
Does MONEY SQUARE charge a commission?
No, MONEY SQUARE does not charge commissions, only spreads calculated.
What is trading hour set by MONEY SQUARE ?
MONEY SQUARE offers forex trading hours based on the US market, including daylight saving time - Monday: 7:20am to 5:50am the next day; Tuesday to Friday: 6:20am to 5:50am the next day; winter time - Monday: 7:20am to 6:50am the next day; Tuesday to Friday: 7:20am to 6:50am the next day.
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 money-square 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 money-square the spread is --.
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. money-square is regulated by FSA.
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 --. money-square provides trading platform including -- and trading variety including --.