GMI Review
What is GMI?
Global Market Index, or GMI, is an online leveraged Forex trading provider. It was founded in Shanghai and then expanded to open several representative offices in China.
The company profile describes itself as a technology-driven brokerage solution, with transparent pricing, cutting edge systems, customer support, and many software proposals. This product offers a pure ECN and STP connection which provides direct, light-fast connectivity with multiple top-tier liquidity providers, deep liquidity, and tailored trading solutions.
Broker: GMI
Minimum deposit: 25 US$
Leverage: 1:30 | 1:200
Regulator: FCA. VFSC
Year: 2009
Platforms: MT4, Alpine Trader ClearPro, MTF and Currenex
HQ: Shanghai
GMI Licences:
Global Market Index Limited (GMIUK), authorised by FCA UK (UK) registration number. 677530
Global Market Index Limited - Authorized by VFSC (Vanuatu), registration number. 14646
Overview
GMI is a trusted broker that offers high quality trading proposals, including institutions and money managers. GMI offers a wide range of trading platforms, MT5 bridges and technology. You have many options for withdrawing or depositing funds.
There is not 24/7 support and education is very basic.
Pros
Well-regulated
Variety of accounts offered
STP and ECN models
Demo account available
Cons
No US Clients
High minimum deposits
Wide spreads on some accounts
Limited tradable instruments
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.5
Awards
The GMI offers a range of retail traders products, including MT4 and MT5 Bridges , customized partnership programs for Institutional Traders, Money Managers, White Label, and APIs via the FIX connectivity network.
It is evident that GMI's main strength is technology and software. This was also recognized by numerous awards for industry achievements and overall ratings.
GMI is it safe?
GMI is not a fraud, but a licensed broker with top-tier FCA authorization.
The GMI Group of Companies includes entities and firms that are registered in multiple jurisdictions, but use the shorthand Global Market Index Limited. GMIUK, a trading name of Global Market Index Limited that is based at London and authorized by the Financial Conduct Authority, is .
Other brands include GMINZ, a trading name for the company in New Zealand; the GMIVN, a company in Vanuatu; and the GMI Limited, which is registered in Hong Kong.
The broker has been regulated by the UK's most respected authority, the FCA. This allows traders to rest easy knowing that the broker adheres to all regulations regarding operations and management of traders. The client's funds are protected at all times. They are kept in segregated Bank accounts and protected by the compensation programs in the event of insolvency.
Trade Instruments
The GMI's multiplatforms perform ultra low latency and FIXAPI connectivity. Additionally, there are a variety of trading instruments, including FX and Indices, Cryptocurrencies and CFDs for Crude oils, Metals and Indices. FX Minors are a special currency pair that allows forex trading to be flexible. This gives traders the opportunity to match strategy for long and short positions, with high investment potential.
Leverage
The GMI offers different leverage levels depending on regulatory requirements and which entity you trade with. This is due to the various safety precautions each authority takes to reduce risks, especially for retail traders.
Trading with a UK broker is therefore permitted according to the European ESMA rules. It allows for lower leverage levels, such as 1:30 for Forex instruments, 1:10 for commodities and 1:20 for minor currencies pairs.
If you open an account in Hong Kong or Vanuatu, you will be able to leverage your funds up to high, which can reach 1:200 or 1:300. However, you should always check with the customer service to see what regulations you are subject to.
Types of accounts
GMI offers four account types. Three of these are MT4 accounts with STP connection and the fourth one is equipped with ECN bridging technology. You can choose from flexible leverage and trading sizes, or ultra tight floating spreads and rapid connectivity to market.
Each account is different based on the initial deposit and trading size. This allows you to choose the most suitable version, along with competitive pricing and an interbank spread.
Fees
GMI charges differ depending on the volume of trades and trading account. Spread-only and commission-based options are available, as well as tailored solutions for traders with larger trade volumes. Consider additional fees such as funding fees and inactivity.
Spread
GMI spreadconsidered the lowest spread offering in the market based upon our research. See below comparisons on some popular instruments and compare fees to another broker TMGM. The last is to always consider rollover and overnight fee as a cost. This is approximately -2% for positions that are held for less than one day.
Deposits and withdrawals
You will need to deposit an initial balance in order to begin Live trading. This amount varies depending on the type of account you have. You have many payment options, including Debit and Credit Cards, Bank Transfers, and e-payments Skrill.
Minimum deposit
The minimum deposit amount for GMI starts at 25$ This broker is a great choice for active traders or professionals due to the advanced technology of GMI.
Minimum deposit vs. other brokers
Withdrawal
GMI doesn't charge additional fees for withdrawals. However, the payment provider might treat deposits as cash advances and add fees. Please check the issue.
Trading Platforms
The GMI offers traders five platforms to choose from, as technology-driven executions demand a more sophisticated tool. They can be divided according to the type of connection. STP supports GMI MT4 platforms and GMI Alpine Trader platforms. ECN connections are performed via GMI ClearPro or GMI MTF, GMI Currenex.
Desktop platform
GMI MT4 is the most widely used platform in retail. It offers great stability and is highly regarded. The GMI's powerful chart features enabled EA trading and was enhanced by VPS hosting and collocation configuration to enable smart order routing.
GMI Alpine Trader is an intuitive interface platform that allows you to trade in fixed dollar amounts using OCO orders and server-based trailing stops pip by pip. This platform is not available to GMIUK clients.
GMI ClearPro, an institution platform with VWAP (Value- Weighted Average Pricing), allows you to choose order size and has interbank daily settlement. You can also reversibly order.
GMI MTF was designed to be used as an ECN venue for multiple asset types and flexible connectivity. It also features an ultra-high acceptance rate and low latency, with no rejections.
GMI Currenex, an automated matchmaking system that offers a large selection of order types and an ESP quote system, is a GMI Currenex. It also has a deep liquidity pool. GMIUK clients are not able to access the platform.
Conclusion
Global Market Index, or GMI Review, concludes that the firm is well-regulated and serves offices in top financial centers around the globe. They also offer transparent conditions due to the technological connectivity. There are several cons, including a lack of information on their website and a high start deposit of 2,000$. pleasant at GMI is the wide range of platformsoffering that offer many solutions to traders, whether they are novice or experienced, retail or institutional.