One of the main advantages of the increased digitalization of our society is the opportunity for online trading. Today, you can easily open an account on a reliable trading site and access your funds on the move from your smartphone, for example.
You can trade everything online, including crypto, CFD trading, NFTs, and anything else that you can think of. The only downside is the overwhelming number of options that can look daunting, especially for beginners.
So, if you’re looking to get into online trading, the main goal would be to register on a reliable platform. For this purpose, we have covered the online trading site FXGM ZA. If you’re wondering whether it is the right platform for you, or more importantly is FXGM ZA reliable, our review covers in detail everything you need to know, from account types, FXGM ZA opinions, regulations, and much more. So, without further ado, let’s dive into the FXGM ZA review.
Regulations of FXGM ZA
The online trading market, in a nutshell, is a decentralised, distributed market where users can trade assets online. This means that there isn’t a central governing body responsible for the regulation of the trading brokers. However, each country has its own set of regulations and jurisdictions when it comes to online trading.
FXGM ZA is an online brokerage platform that offers over 40 forex currency pairs, stocks, commodities, and other assets. Also, as the FXGM ZA platform is reputable, it adheres to the latest standards in the industry, and it is regulated by the FSC (South African Financial Sector Conduct Authority). In other words, this is a legitimate site, and your sensitive data is safe here.
FXGM ZA Commissions
There are fees that are charged based on the type of account the user has and also an administrative fee. But, also, the fees are calculated on the open positions. For example, there is 0.015% of the overnight exposure to CFDs. That said, the financing fee may differ based on the assets you want to invest in. Also, keep in mind that you will be charged an initial fee of $200 for creating a junior account on the site.
Assets and Account Types on FXGM ZA
You will find a great range of assets available, including CFDs, stocks, forex, cryptocurrencies, and commodities, among other assets. When it comes to forex, you’ll be happy to know they offer 40 currency pairs and the most heavily traded currencies, including ZAR, USD, EUR, and AUD, to name a few. Another advantage is that every product they have on offer remains accessible to every user, regardless of their account type.
This leads us to the question, ‘How does FXGM ZA work based on its account types?’ There are five account types – Executive, Royal, Junior, Premium, and VIP. They all have common features. However, the more exclusive ones naturally offer better perks. That said, every account gets a free e-book and free trading. With a junior account, you get a personal account manager, trading insider, and one-click trading, among other perks. The minimum deposit for the account is $200.
Next, with the premium account on top of the benefits of the junior account, you also get a customer service agent. You need at least $10,000 for this account. You will need at least $30,000 for the VIP account, which gives you exclusive access to spread discounts on the following assets – commodities, FX majors, and indices.
The executive and royal accounts are the most exclusive accounts, which basically give you access to all of the features available on the site. The minimum deposit for the executive one is $50,000, while the royal requires $100,000 and more.
FXGM ZA Trading Platform
When it comes to the FXGM ZA Trading Platform, users should be aware that both web-based and mobile versions are accessible on Android and Apple devices. The trading site is fully optimised for both desktop and mobile devices and has an intuitive design, while the same features are available on both versions. However, there are some differences that you should be aware of between Web PROfit and Mobile PROfit.
FXGM ZA – Web PROfit
This is the web-based version of the platform, which is accessible via your smartphone’s browser and also on your desktop computer. It is fully customizable and offers you access to over 100 assets, trading tools, customer support, and relevant financial news.
FXGM ZA – Mobile PROfit
This is essentially the mobile application that represents a perfect option if you want to access your account on the move, and it is compatible with Apple and Android devices. In other words, you can place orders directly from your smartphone or read the latest financial news. It is also beneficial that it is synchronised with the web-based version.
Total Investment Insurance
It should be noted that they offer negative balance protection to every registered member on the site. But, again, keep in mind that even with the free resources available, you are responsible for your own financial decisions, and trading online is still considered volatile.
Opinions and Reviews of FXGM ZA
There are mostly favourable reviews as well as opinions regarding this top-rated trading platform, as you can see from the search results online. So, if you also see if you have any doubts about FXGM ZA scam, then you can lay those doubts to rest because it is really a high-quality, licensed trading platform that offers great options for every type of investor.
Based on the FXGM ZA comments, data, and features, we can conclude that it is a reputable platform, perfect for both beginners and experienced investors. Another advantage is that it is mobile-optimised with a separate app that you can download on your mobile device and trade on the move. Lastly, make sure to do your due diligence and make choices that are right for your financial plan and investment portfolio.