abstrak：Global Market Index, or GMI, is a well-known online leveraged Forex trading provider that was founded in Shanghai and then expanded to open several representative offices within China, as well as one in Auckland and one in the financial capital of the world, London.
What is GMI Markets or GMI Edge？
Global Market Index, or GMI, is a well-known online leveraged Forex trading provider that was founded in Shanghai and then expanded to open several representative offices within China, as well as one in Auckland and one in the financial capital of the world, London.
The company is defined as a technology-driven brokerage solution with transparent pricing, cutting-edge systems, multiple customer support options, and numerous software proposals. According to the product offering, the connection is a pure ECN, STP connection that provides direct, light-speed connectivity to multiple top-tier liquidity providers with deep liquidity and tailor-made trading solutions.
GMI Markets or GMI Edge Advantages and Disadvantages
GMI is a trustworthy broker with high-quality trading options for Institutions and Money Managers. GMI offers a wide range of trading platforms, MT5 bridges, technology, and tools. There are several methods for depositing and withdrawing funds.
On the negative side, there is no round-the-clock assistance, and education is rather basic.
Is GMI a legitimate forex broker or scam？
GMI is not a scam, but rather a regulated broker with top-tier FCA authorization.
The GMI Group of companies consists of firms and entities registered in various jurisdictions under the trading name Global Market Index Limited. GMIUK is the trading name of the Global Market Index, which is headquartered in London and is regulated by the Financial Conduct Authority.
Other brands include GMINZ, a trading name of a New Zealand-registered company, GMIVN, a Vanuatu-registered company, and GMI Limited, a Hong Kong-registered company.
While the broker is regulated by one of the most reputable global authorities, the UK's FCA, traders can rest assured that the broker is fully compliant in terms of operations and how it manages traders. Furthermore, the client's funds are always secure, kept in segregated accounts at leading banks, and protected by compensation schemes in the event of insolvency.
Market Instruments
Furthermore, the GMI's multi-platforms offer ultra-low latency and FIX API connectivity, as well as a diverse range of trading instruments such as FX, Indices, Cryptocurrencies, and CFDs for Crude Oils, Metals, and Indices. Forex trading includes a wide range of currency pairs, as well as some specials known as FX Minors, which allow for greater flexibility by matching strategies for both long and short positions with high investment potential.
Leverage
GMI leverage levels vary depending on regulatory requirements and the GMI entity with which you are trading. This is due to the various safety measures that each authority implements in order to eliminate risks, particularly for retail traders.
Trading with a UK brokerage, therefore, follows the set of rules established by the European ESMA and allows only lower leverage levels of up to 1:30 for Forex instruments, 1:20 for minor currency pairs, and even 1:10 for commodities.
However, if you open an account with Hong Kong or Vanuatu entities, leverage levels can skyrocket to 1:200 or even 1:300, but make sure to check with customer support to see which regulations you will fall under.
Types of Accounts
Each account differs in terms of initial deposit and trading size, allowing you to select the best version for you, as well as more competitive pricing built into the spread only or with interbank spread and commission per order.
Fees
GMI charges different fees based on the trading account and the volume of transactions. There are options for spread-only or commission-based trading, as well as tailored solutions for larger traders. Consider additional fees such as funding fees or inactivity.
Spread
Based on our research, GMI spread is considered to be the market's lowest spread offering; see below for a comparison of some popular instruments, as well as a comparison of fees to another popular broker, TMGM. Finally, always consider the rollover or overnight fee as a cost, which is approximately -2 percent for short positions held for more than a day.
Deposits and Withdrawals
Of course, in order to begin Live trading, you must first deposit an initial balance requirement, which varies depending on the account type you select. Transfer options include a variety of payment methods such as credit and debit cards, bank transfers, and Skrill e-payments.
Minimum Deposit
The GMI minimum deposit amount begins at 2,000$, which is quite high for new traders but a reasonable amount for experienced traders. Actually, because of GMI's advanced technology, this broker is regarded as a viable option for professionals and active traders.
GMI Minimum Deposit vs Other Brokers
Withdrawal
GMI does not charge any additional fees for deposits or withdrawals; however, the payment provider may treat the deposits as a cash advance and charge additional fees, which you should investigate.
Trading Platforms Used
Because technology-driven executions necessitate a sophisticated tool, the GMI offers traders a choice of five platforms. They are classified according to connection type, with STP supporting GMI MT4 and GMI Alpine Trader platforms and ECN connections supported by GMI ClearPro, GMI MTF, and GMI Currenex.
Platform for PC
– GMI MT4 provides excellent stability and is the most widely used retail platform in the world. In addition to its powerful chart features and EA trading capabilities, the GMI has VPS hosting and collocation configuration for smart order routing.
– GMI Alpine Trader is a user-friendly interface platform that allows you to trade in fixed dollar amounts with OCO orders and server-based trailing stops pip-by-pip. This platform, however, is not available to GMIUK clients.
– GMI ClearPro is an institutional platform with VWAP (Value Weighted Average Pricing) that allows for the selection of order size, interbank daily settlement, and one-click order reversal.
– GMI MTF is intended for use as an ECN venue for multiple asset classes and flexible connectivity, as well as having an ultra-high order acceptance rate and low latency with no rejections.
– GMI Currenex is an automatic matchmaking system that offers a diverse range of order types, an ESP quote system, and a large liquidity pool. The platform, however, is not available to GMIUK clients.
Conclusion
Overall, the Global Market Index or GMI Review concludes that the firm is well-regulated, has offices in the world's leading financial centers, and provides transparent conditions through technological connectivity. However, there are some drawbacks, including a lack of information on the website, no educational support, and a 2,000$ initial deposit. However, what is pleasing about GMI's very diverse platform offering is that it brings numerous solutions to almost any demanding trader, whether novice or experienced, institutional or retail.
