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Do you want to know which is the better broker between GMI and Global Prime ?
In the table below, you can compare the features of GMI , Global Prime side by side to determine the best fit for your needs.
EURUSD:-0.5
EURUSD:-1.5
EURUSD:16.16
XAUUSD:27.25
EURUSD: -1.05 ~ 0.27
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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, global-prime 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:
GMI Review Summary | |
Founded | 2009 |
Headquarters | United Kingdom |
Regulation | FCA |
Market Instruments | Gold, silver, crude oil, forex, index |
Demo Account | ✔ ($100,000 virtual fund) |
Islamic Account | ❌ |
Leverage | 1:1000 |
EUR/USD Spread | From 0.0 pips |
Trading Platform | MT4, MT5, GMI EDGE |
Copy Trading | ✔ |
Minimum Deposit | $200 |
Customer Support | Live chat, contact form |
Phone: +86 400 842 7770 | |
Email: cs@gmimarkets.com |
GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including gold, silver, crude oil, forex, and index via the MT4, MT5 and GMI EDGE platforms.
Pros | Cons |
• Regulated by FCA | • Limited range of trading instruments |
• Wide range of account types | • Limited educational resources |
• Competitive leverage | • Limited research and analysis tools |
• Commission-free trading | • High minimum deposit requirement ($200) |
• Copy trading feature supported | • Lack of info on deposits and withdrawals |
Note: The pros and cons listed above are not exhaustive and may vary based on individual preferences and circumstances.
GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk. It is important for traders to do their own research and due diligence before deciding to trade with any broker.
GMI offers popular markets across different asset classes, including gold, silver, crude oil, forex, and index. Other assets like stocks, options and cryptocurrencies are not available.
Apart from demo accounts with $100,000 virtual fund, GMI offers two live account types, Standard and ECN.
Account Type | Minimum Deposit |
Standard | $200 |
ECN | $2,000 |
GMI offers fixed/adjustableleverage, up to 1:1000 for Standard accounts and 1:500 for ECN accounts. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Account Type | Leverage |
Standard | 1:1000 |
ECN | 1:500 |
GMI offers spreads from 0.0 pips. It's important to note that spreads may vary depending on market conditions and liquidity. Traders may also be subject to additional fees such as swaps and overnight financing charges.
Regarding the commission, it varies depending on the type of account. There is no commission charged on the Standard accounts, while the commission for the ECN account is $4 per lot.
Account Type | Commission |
Standard | $0 |
ECN | $4 per lot |
GMI offers its clients three choices of trading platforms, the popular MetaTrader 4, MetaTrader 5, and its proprietary GMI EDGE. Both MT4 and MT5 are equipped with a variety of tools and features for technical analysis, order management, and customization. They also support automated trading with the use of Expert Advisors (EAs). GMI EDGE can be downloaded through Android and Web devices.
GMI offers copy trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's copy trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.
Live chat, contact form
Phone: +86 400 842 7770
Email: cs@gmimarkets.com
Based on the analysis of GMI, it is a regulated and reputable broker that offers competitive spreads and commissions, and a choice of different account types, as well as good customer support. One downside of GMI is its limited range of trading instruments and educational resources. Additionally, it requires a high minimum deposit to open an account. Overall, GMI is a solid option for traders who prioritize MT4/5, demo trading and competitive pricing.
Is GMI regulated?
Yes. GMI operates legally, and it is regulated by FCA in the UK.
Does GMI offer demo accounts?
Yes. GMI offers demo accounts with $10,000 virtual capital.
Does GMI offer industry-standard MT4 & MT5?
Yes. Both MT4 and MT5 are available.
What is the minimum deposit for GMI?
$200.
Is GMI a good broker for beginners?
Yes. Overall GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. But the minimum deposit requirement of $200 may be high for beginners.
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities.
Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
Registered in | Australia |
Regulated by | ASIC |
Year(s) of establishment | 10-15 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds |
Minimum Initial Deposit | No minimum deposit |
Maximum Leverage | 1:100 |
Minimum spread | Tight spreads |
Trading platform | MT4 and TradingView |
Deposit and withdrawal method | Paypal, Mastercard, Visa |
Customer Service | Email/phone number/address |
Fraud Complaints Exposure | Yes |
Global Prime is a brokerage firm registered in Australia and regulated by the ASIC. With a history of 10-15 years, the broker offers a diverse range of trading instruments, including currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, and bonds.
There is no minimum deposit requirement, allowing flexibility for traders. The broker provides a maximum leverage of 1:100 and offers tight spreads to enhance trading conditions. Trading is facilitated through industry-standard platforms like MetaTrader 4 (MT4) and TradingView. Global Prime supports multiple deposit and withdrawal methods, including PayPal, Mastercard, Visa. There have been instances of fraud complaints exposure, which is something potential traders should consider.
Global Prime is currently regulated by the Australian Securities and Investments Commission (ASIC) and holds a Market Making (MM) type license with license number 385620.
Market Instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.
In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.
Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.
When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.
The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.
In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.
A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.
Global Prime offers comprehensive customer support tailored to meet the needs of its diverse client base. Here are the key details regarding their customer service offerings:
Is this broker well regulated?
Yes, it is currently effectively regulated by ASIC.
What trading instruments are available?
You can trade a variety of instruments including currency pairs, indices, commodities, metals, energy products, cryptocurrencies, stocks, and bonds.
What is the minimum initial deposit required to open an account?
There is no minimum deposit required to start trading.
What is the maximum leverage offered?
The maximum leverage offered is 1:100.
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 and global-prime are, we first considered common fees for standard accounts. On gmi, the average spread for the EUR/USD currency pair is -- pips, while on global-prime the spread is 0.4.
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 is regulated by FCA. global-prime is regulated by ASIC.
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 provides trading platform including Standard Bonus,Standard,Cent,ECN and trading variety including --. global-prime provides trading platform including Commission Free,Spreads + Commission and trading variety including 100.