What is FXGM ZA?
FXGM ZA is one of the leading online brokerages in South Africa. It is a brand name operated by FXGM South Africa (Pty) Ltd., a company licensed and regulated by the FSCA under license no. 50202. FXGM ZA has an intuitive and innovative CFD trading platform perfectly optimized for both desktop and mobile devices. It offers a wide spectrum of CFD instruments and some of the most elaborate helping tools. The simple, user-friendly interface creates a pleasing platform for traders with all kinds of needs and experience levels.
FXGM ZA Pros & Cons
Pros
- Innovative, user-friendly platform
- Various leveraging options
- Elaborate helping tools
Cons
- The maximum leverage of 1:200. Not too low, but there are other brokerages that offer more.
- Strict policy regarding deposits and withdrawals. On the other hand, this can be regarded as a plus for safety reasons
Top FXGM ZA Features
More than 140 instruments to trade:
The broker FXGM ZA is a great place to start as a Forex and CFD investor. It offers a variety of CFDs on stocks, commodities, indices, currencies, and cryptocurrencies.
Intuitive design:
The desktop version has a lot of helpful features, and the even better thing is that they are elegantly implemented and enhanced for all mobile devices. The outcome is fascinating – you can make instant trades with a single click or touch no matter where you are. Also, you can stay in touch with what’s important in the business world and get updated around the clock.
Elaborate helping tools:
The PROfit platform has some great helping tools, including Financial news, the Economic Calendar, and different Charts. But probably the most helpful technical analysis tool is the Autochartist. It saves you a lot of time by filtering substantial amounts of data and highlighting investment opportunities.
Splendid Support Team:
FXGM ZA has a dedicated support team that provides professional assistance, no matter what problem you experience.
Protection and Security
FXGM ZA is operating in accordance with South African applicable laws and regulation, licensed by the South Africa Financial Sector Conduct Authority, under FSCA license FSP 50202. Meaning that traders can enjoy services adherent to local laws and financial requirements.
FXGM ZA Overview
Regulation/Licensing: South Africa Financial Sector Conduct Authority (FSCA, South Africa) ( www.fsca.co.za ), under FSP authorisation no. 50202
Assets Offered: Cryptocurrencies, ETFs, Stocks, Indices, Commodities, Currencies
Platforms Available: Web, Mobile
Mobile Compatibility: iOS, Android
Payment Types Accepted: Credit/Debit Cards (Only MASTERCARD or VISA is acceptable)
FXGM ZA Account Types
Junior
Deposits between $200 and $9,999 + a free eBook, free training, and a Personal Account Manager
Premium
Deposits between $10,000 and $29,999 + a free eBook, free training, and a Personal Account Manager, and a Personal Customer Service Agent
VIP
Deposits between $30,000 and $49,999 + a free eBook, free training, and a Personal Account Manager, a Personal Customer Service Agent, as well as Spread discounts FX Majors, Commodities, and Indices.
Executive
Deposits between $50,000 and $99,999 + a free eBook, free training, and a Personal Account Manager, a Personal Customer Service Agent, as well as Spread discounts FX Majors, Commodities, and Indices.
Royal
Deposits above $100,000 + a free eBook, free training, and a Personal Account Manager, a Personal Customer Service Agent, as well as Spread discounts FX Majors, Commodities, and Indices.
You also get to use elaborate helping tools like the Trading Insider, One Click Trading, Pop Up Alerts, and the Autochartist, no matter the account type.
FXGM ZA Compliance & Regulation
The brokerage FXGM ZA (www.fxgm.co.za) is a brand name operated by FXGM South Africa (Pty) Ltd regulated by the Financial Sector Conduct Authority (FSCA) with license FSP Authorisation No. 50202 and registered office at Unit 1, Village Corner, 57 Via Latino Crescent, Irene Corporate Corner, Irene, Gauteng 0178, South Africa.
Leverage and Pricing
- Foreign Exchange Currency Trading (FOREX) 1:200
- Gold, Silver, and Oil: 1:200
- Other Commodities: 1:100
- Single Stocks CFDs: 1:10
- ETF CFDs: 1:10
- Cryptocurrencies CFDs: 1:10
- Protected Positions: 1:10
FXGM ZA charges different fees:
- Financing fee for FX – 0.015% of the overnight exposure
- Financing fee on CFDs – 0.015% of the overnight contract value in US Dollars
- Financing fee for Cryptocurrencies – 0.1%
- Financing fee for inactivity – $100 USD per month on a quarterly basis following three months of inactivity
FXGM ZA User Experience
The PROfit platform is entirely web-based as it does not need any downloads, installation, or updates. It is one of the leading trading platforms and the first choice for millions of traders all over the globe. Among the many trading tools the PROfit platform offers are: instant trade execution, news feeds, and support directly from the platform. This way, traders can easily adjust the customizable features to their specific needs and experience levels.
The Mobile PROfit is the mobile-friendly, optimized version of the platform. It has all the features of the web variant but in a smoother, more compact version. You can find the app both for iOS and Android devices and get a hold of all the useful features like the intuitive interface, requiring no previous training whatsoever.
Final Overview of FXGM ZA
No matter if you are a beginner or an experienced trader, FXGM ZA provides you a lot of opportunities and excitement in terms of investing via Forex and CFD trading. The captivating trading experience is strengthened by the user-friendly platform containing all the financial information traders need, available at any given time. With FXGM ZA you have a broad spectrum of more than 140 CFDs on different assets like Forex, Commodities, Cryptocurrencies, and Indices with very tight spreads even in times of intense volatility. The brokerage has many leverage options and is fully licensed and regulated to make sure your funds are in safe hands all the time.
Contact Info
Website: https://www.fxgm.co.za/
Telephone: +27104464220
Company Address: Unit 1, Village Corner, 57 Via Latino Crescent, Irene Corporate Corner, Irene, Gauteng 0178, South Africa.
FXGM ZA Frequently Asked Questions
Q: How much should I deposit to open an account?
A: You can find more information about FXGM ZA different account types and the minimum deposit amount they require at the Trading Plans section on the website.
Q: How can I deposit funds with FXGM ZA?
A: FXGM ZA gives you the opportunity to deposit funds by Credit Card or debit card. They have made it easier for you to deposit funds directly in your trading platform with your Credit Card. FXGM ZA accepts all major Credit and Debit cards. FXGM ZA does not accept any cash deposits. Any transfer has to be made from your PERSONAL BANK ACCOUNT. Furthermore, FXGM ZA strictly adheres to applicable AML legislation
Q: How can I withdraw funds?
A: You can withdraw funds anytime you want. Please note that for your protection, FXGM ZA requests proof of identity before processing your request. To make it easier and more convenient for you, they have simplified the withdrawal process into a few steps. First, you need to log in to your trading account and register your withdrawal. If you used a Credit Card to fund your trading account, fill out our Credit Card Declaration form and send it via fax or scanned via email at customer.service@fxgm.co.za. Keep in mind that the withdrawal will be sent to the source of deposit. This means, if you made a deposit with your credit card, your withdrawal would be credited back to the same credit card. In case your withdrawal request was not approved due to insufficient funds, you should submit a new withdrawal request within the available withdrawable equity.
Q: What are the commissions?
A: FXGM ZA does not charge an additional commission on top of spreads for trading on its platforms.
Q: Am I subject to tax?
A: FXGM ZA does not deduct or pay any taxes on your behalf. It is your own responsibility to take care of tax obligations.
Q: Do they have a demo account?
A: No, but they provide a better alternative – First Protected Positions. Based on your account type, your first 5-up-to-10 positions will be protected from loss, but at the same time, you get to keep the winnings.
Q: Is FXGM ZA fake or a scam?
A: No, FXGM ZA is a licensed brokerage. The website is a brand name operated by FXGM South Africa (Pty) Ltd regulated by the Financial Sector Conduct Authority (FSCA) with license FSP Authorisation No. 50202 and registered office at Unit 1, Village Corner, 57 Via Latino Crescent, Irene Corporate Corner, Irene, Gauteng 0178, South Africa.