GMG Review [year]

Editor’s Verdict

Global Markets Group, or GMG, based in the UK, offers spread betting and CFD trading on Forex, commodities, and indices, but does not offer trading on stocks or cryptocurrencies. Overall, there’s a lot to like about GMG. While the broker only provides the MT5 platform, traders gain access to the Autochartist plug-in, enjoy competitive fees, and benefit from a strong regulatory framework.

Overview

GMG is a UK-regulated broker, giving clients access to Forex, commodities, and indices through the MT5 platform. Traders can choose between an account with raw spreads plus commission, a standard spread-based account, and a spread betting account option.

GMG’s five core takeaways:

• 71 currency pairs, 6 commodities including oil and metals, and 11 indices, including popular equity indices
• GMG only offers the MetaTrader 5 platform
• Forex leverage is up to 30:1; commodities and indices: 20:1. Elective PRO account for qualified investors can have higher leverage on some instruments.
• 4 account types: RAW Spread; Standard; Spread Bet; Elective PRO

GMG Regulation and Security

GMG is regulated in the UK by the Financial Conduct Authority (FCA) and holds client funds in segregated accounts.

Is GMG Legit and Safe?

My review found no evidence of misconduct or malpractice by this broker during its history.

GMG regulation and security components:

• Regulated by the Financial Conduct Authority (FCA) with reference number 744501.
• Authorized since September 2016
• Company registered address: Green Park House, 15 Stratton Street, London W1J. Company business address: The Jellicoe, 5 Beaconsfield Street, King’s Cross, London, N1C 4EW

What Would I Like GMG to Add?

1. I would like to see it add more markets, especially cryptocurrencies, more commodities and individual stocks.
2. Adding more platforms to its offering, such as TradingView integration, would be a bonus.

Fees

GMG offers 4 account types:

1. RAW Spread account: Spreads from 0.0 pips plus $3.50 commission per lot per side.
2. Standard account: Spreads from 1.0 pips
3. Spreadbet account: a tax-advantageous account for UK residents
4. Elective PRO account: for those with a minimum of EUR 500,000 trading portfolio (not necessarily all held with GMG Markets). Leverage increases to 100:1 and lower spreads.

GMG charges no fees for deposits or withdrawals (your bank may charge separate fees, which GMG markets will not cover). There are also no inactivity fees.

Range of Assets

• 71 Forex pairs
• Energy: Crude Oil and Brent
• Metals: Gold, silver, platinum and palladium
• Indices: 11 including FTSE 100, DJIA, S&P 500 and DAX40

GMG Leverage

• Forex: 30:1
• Gold: 20:1
• Metals (excluding gold): 10:1
• Oil: 20:1
• Indices: Up to 20:1

GMG Trading Hours

Account Types

GMG offers four account types: RAW Spread, Standard, Spreadbet and Elective PRO.

Spreadbet accounts, which are advantageous from a tax perspective, are only available for UK residents.

Elective PRO accounts are for those with a minimum trading portfolio of EUR 500,000 (not necessarily all held with GMG Markets). With this account type, leverage increases to 100:1 and spreads are lower.

GMG Demo Account

GMG allows clients to set up a MetaTrader 5 demo account.

Trading Platforms

GMG offers MT5 and allows clients to access it as desktop and mobile apps, as well as a mobile version.

Unique Features

GMG offers free VPS when clients meet a minimum monthly trading volume. The VPS is connected globally to data centers to achieve latency as low as 1 millisecond. This is ideal for scalping-based trading robots/EAs.

GMG also offers the Autochartist tool that automatically identifies key support and resistance levels, chart patterns, Fibonacci levels, and extreme market movements.

Research and Education

GMG’s site has educational content covering the basics of trading, technical analysis, fundamental analysis, MT5 tutorials and guides to Expert Advisors and VPS.

Customer Support

GMG offers 24/5 support by email, phone, and live chat.

Customer Support Methods
Support Hours	24/5
Website Languages	EN

Bonuses and Promotions

GMG has no promotions or bonuses at the time of this review.

Opening an Account

GMG has a standard account opening process to comply with Financial Conduct Authority (FCA) regulations, including Know Your Customer (KYC) and Anti-Money Laundering (AML) rules.

Minimum Deposit

• RAW Spread: $100
• Standard: $100
• Spreadbet: $100
• Elective PRO: $1000

Payment Methods

GMG accepts wire transfer as the sole deposit method for all its account types.

Withdrawal options
Deposit options

Accepted Countries

GMG does not offer services to residents of the United States. US traders should check the best forex brokers in the USA that accept U.S.-based traders.

GMG is also unavailable to residents of Japan, Canada, Belgium or any other jurisdiction, where such distribution or use may be contrary to local laws or regulations.

Deposits and Withdrawals

Deposits:

• The minimum deposit is $100 unless for their Elective PRO account, which requires a minimum of $1000
• Deposits can only be made by wire transfer
• GMG does not charge fees for deposits; however, clients’ financial institutions may have separate charges.

Withdrawals:

• Clients can withdraw instantly by the Fast Payments method (only available to UK bank account holders) or wire transfer
• GMG does not charge for withdrawals; however, clients’ financial institutions may have separate charges.

Is GMG a Good Broker?

GMG is regulated by one of the world’s foremost regulatory bodies, the UK’s Financial Conduct Authority (FCA), which requires the highest standards for brokers, including holding client money in segregated accounts.

It has a slim but core lineup of available markets, including 71 Forex pairs, 6 commodities, including oil and metals, and global equity indices. It does not offer individual stocks or cryptocurrencies.

Whilst it only offers MT5, this should suit most traders’ needs with its broad-ranging functionality, not to mention the large MT5 community with plenty of signal providers, trading systems, etc.

Its spreads are reasonable for the Standard account, and the RAW Spreads account has low commissions for a competitive environment.

GMG has strong links to global data centers for its VPS, making it an excellent choice for high-speed automated trading.

FAQs

How do I withdraw money from GMG?

Funds can be withdrawn via Fast Payments for UK bank account holders or wire transfer.

What is the minimum deposit for GMG?

The minimum deposit is $100

Is GMG safe?

Yes, GMG is safe. It is regulated by one of the world’s foremost agencies, the UK’s Financial Conduct Authority (FCA), and it holds client money in segregated accounts.

Is GMG suitable for beginners?

Yes, it offers enough markets for beginners and uses the easy-to-learn MT5, which has plenty of features for most traders.

By Huzefa Hamid

I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.