FXGM is an online broker regulated by CySEC which offers its clients brokerage services in trading CFDs, forex and more. While FXGM is regulated by CySEC, there is evidence of this company not following CySEC’s regulations. As we have mentioned before, there are a number of online brokers which are regulated yet do not follow the rules and are not to be trusted. Read our FXGM scam review to find out more.
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FXGM Customer Support
FXGM offers customer support via email, live chat and telephone conversation.
What we have notice with brokers like FXGM and numerous others is that before you have made a deposit, they are the absolute best. Attentive, patient and understanding but that is how they trick you into investing with them and that is how the FXGM scam works.
Currently brokers like FXGM claim to be located one place but are actually from another and are wreaking havoc among traders especially beginners.
FXGM, and others like them, present themselves as legitimate and even show proof of regulation but as we have mentioned before, just because a broker is regulated, does not mean they can be trusted.
Numerous personal FXGM forex broker reviews show people posting about their negative experiences FXGM
The common theme being that once you have deposited your money, you never hear from them again. Also if you have made successful trades with them; you are unable to withdraw any of the profit and can even login to see your account completely drained. Leaving you without any money at all.
It seems the FXGM opinions of people is that they are nothing more than ATM machines that they can bleed dry of their hard earned money.
Save yourself the stress and avoid this broker at all costs.
FXGM Accounts
FXGM currently has five different account options which are:
- Discovery – costs between $200 and $9999. It allegedly offers protection for the first 5 positions, a free eBook, free training, free webinars, personal account manager, trading insider, on click alerts and pop up alerts.
- Silver – costs between $10,000 and $29,999. It offers the same features as the Discovery account along with trading central for 1 month along with spread discount on commodities.
- Gold – costs between $30,000 and $49,999 and offers the same features as the Silver account except trading central is available for 2 months as well as a spread discount on indices and on all major currency pairs.
- Diamond – costs from $50,000 to $99,999. this account features everything from the Gold account except instead of a 2-month trading central, it is available for 3 months and also a personal customer service agent.
- VIP – costs $100,000 and over and the only difference between this account and the VIP account is that the trading central is available for 4 months instead of 3.
Now while we do applaud brokers with a wide variety of account types for various traders, we have realized that not only is FXGM making empty promises to get traders invest large sums of money, there is practically little to no difference between these accounts. What is worse is just how much money they are asking traders to invest.
We strongly advise against any investing large sums of money with any online broker without any hard evidence of legitimacy. Do not be lured by their sales people.
If you can, invest in a broker with offices you can visit. Because in this case, FXGM is lying about everything from their features down right to their own location.
Continue reading our honest FXGM review to find out more.
FXGM Platform
FXGM currently offers traders the ability to use three different platforms:
- MetaTrader4 Platform
- PROfit Trader
- Mobile Trader
The MT4 platform is widely known and quite possibly one of if not the best free platform in the financial trading world. One of the reasons for this is it is customizable which is both good and bad.
In this case it is bad because crooks like FXGM can manipulate the platform to cause you to lose large sums of your hard earned money.
Their PROfit and mobile platforms are the same as well.
Do not trust them and do not risk it.
Conclusion
From what we have learned, FXGM is nothing but a scam. Do not trust this broker or its employees. You will regret it. Thank you for reading our FXGM full review. And remember just because they are regulated, does not mean they can be trusted.