FXGM ZA is one of the regulated brokers in South Africa. It is operated by FXGM South Africa (Pty) Ltd. And functions per the applicable regulations and laws of South Africa. It offers all kinds of CFD trading, including Forex, options, stocks, commodities, and cryptocurrencies. It is something that a client looks up to.
Regulation and compliance
FXGM ZA is regulated by the South Africa FSCA (Financial Sector Conduct Authority) with FSP Authorization No. 50202. FSCA ensures ethical, safe, and honest services are given to their clients.
Is the platform reliable?
The primary function of the independent institution FSCA is to oversee the non-banking financial services of South Africa in the public’s interest. It promotes safe and secure investments in the country. FXGM ZA provides security to the funds and is also a member of the investor’s Compensation Fund. The broker has been there for more than 15 years now and proves itself reliable with each passing day.
The brokerage firm has hard and soft commodities, famous South African and US stocks, forex currency pairs more than 40, and major global indices. And you can also do crypto trading through 6 different cryptocurrencies.
FXGM ZA Account types
The account type provided by the brokerage firm include the following:
Junior accountTo opens a junior account, a minimal deposit range between $200-$9,999. This type of account has features like an e-book, free training, auto-chartist, one-click trading, and a personal customer service agent.
- Premium account
The initial investment from $10,000 to $29,999 is required for opening a premium account. It has all the features of the junior account with additional access to the Trading Central.
- VIP account
This type of account has an initial deposit of $30,000-$49,999. A VIP account holder has access to all the features of a premium and junior account. In addition, you can also get spread discounts on commodities, FX majors, and indices.
- Executive account
It requires an initial deposit of $50,000-$99,999. The user of this account has access to all the features of the above-listed accounts with something more, and that is extra tither spreads on the products tradeable.
- Royal account
Any deposit of more than $100,000 falls in the category of royal account. It offers tighter spreads along with all the features of the other accounts.
Unfortunately, you cannot find a free demo account with FXGM ZA. The best thing is not yet disclosed, and it is that every client gets a personal account manager. It is something different from the others.
Work of account manager? Well, they provide extensive information on features of the trading platform like news and the latest updates of the forex market. They also give trading strategies detailed information. Keep in mind that an account manager is not there to offer you investment advice. They only make you fully aware of the capabilities of the platform so you can start trading carefully.
How to open an account?
Opening an account with FXGM ZA is not very tough. The whole process takes place online and can be completed within a short period. Here are the steps involved:
- Register email and password
- Enter your details
- Upload your ID’s copy along with a utility bill for identification
As the brokerage firm operates in South Africa, the account can be opened in ZAR without a conversion fee.
Trading platforms
The FXGM ZA uses two major trading platforms, namely:
- PROfit
It is a web-based trading platform designed to meet clients’ expectations to make their lives easier. It also offers professional and advanced features to existing and experienced users. For beginners, the features are easy-to-use and adjustable. PROfit platform supports all the devices.
The trading is convenient and simple with PROfit. You can trade in anything like commodities, forex pairs, and CFDs without the need to install the software. The financial news, real-time analysis, and charts are also offered directly by the use of PROfit.
- Mobile PROfit
It offers the option of downloading the FXGM ZA app freely on iOS and Androids, allowing you to execute the trade instantly.
The highly professional environment for trading gives equal opportunities to beginners and professional traders.
Commission and Fees
Being an STP broker,the offers of FXGM ZA change with the changing market conditions. However, the actual costs are determined by the type of account used by the trader.
You can deposit and withdraw the funds in several ways with no fees charged for them. You also get fantastic customer service.
Trade Online with FXGM ZA in South Africa
FXGM ZA is one of the regulated brokers in South Africa. It is operated by FXGM South Africa (Pty) Ltd. And functions per the applicable regulations and laws of South Africa. It offers all kinds of CFD trading, including Forex, options, stocks, commodities, and cryptocurrencies. It is something that a client looks up to.
Regulation and compliance
FXGM ZA is regulated by the South Africa FSCA (Financial Sector Conduct Authority) with FSP Authorization No. 50202. FSCA ensures ethical, safe, and honest services are given to their clients.
Is the platform reliable?
The primary function of the independent institution FSCA is to oversee the non-banking financial services of South Africa in the public’s interest. It promotes safe and secure investments in the country. FXGM ZA provides security to the funds and is also a member of the investor’s Compensation Fund. The broker has been there for more than 15 years now and proves itself reliable with each passing day.
The brokerage firm has hard and soft commodities, famous South African and US stocks, forex currency pairs more than 40, and major global indices. And you can also do crypto trading through 6 different cryptocurrencies.
FXGM ZA Account types
The account type provided by the brokerage firm include the following:
Junior accountTo opens a junior account, a minimal deposit range between $200-$9,999. This type of account has features like an e-book, free training, auto-chartist, one-click trading, and a personal customer service agent.
- Premium account
The initial investment from $10,000 to $29,999 is required for opening a premium account. It has all the features of the junior account with additional access to the Trading Central.
- VIP account
This type of account has an initial deposit of $30,000-$49,999. A VIP account holder has access to all the features of a premium and junior account. In addition, you can also get spread discounts on commodities, FX majors, and indices.
- Executive account
It requires an initial deposit of $50,000-$99,999. The user of this account has access to all the features of the above-listed accounts with something more, and that is extra tither spreads on the products tradeable.
- Royal account
Any deposit of more than $100,000 falls in the category of royal account. It offers tighter spreads along with all the features of the other accounts.
Unfortunately, you cannot find a free demo account with FXGM ZA. The best thing is not yet disclosed, and it is that every client gets a personal account manager. It is something different from the others.
Work of account manager? Well, they provide extensive information on features of the trading platform like news and the latest updates of the forex market. They also give trading strategies detailed information. Keep in mind that an account manager is not there to offer you investment advice. They only make you fully aware of the capabilities of the platform so you can start trading carefully.
How to open an account?
Opening an account with FXGM ZA is not very tough. The whole process takes place online and can be completed within a short period. Here are the steps involved:
- Register email and password
- Enter your details
- Upload your ID’s copy along with a utility bill for identification
As the brokerage firm operates in South Africa, the account can be opened in ZAR without a conversion fee.
Trading platforms
The FXGM ZA uses two major trading platforms, namely:
- PROfit
It is a web-based trading platform designed to meet clients’ expectations to make their lives easier. It also offers professional and advanced features to existing and experienced users. For beginners, the features are easy-to-use and adjustable. PROfit platform supports all the devices.
The trading is convenient and simple with PROfit. You can trade in anything like commodities, forex pairs, and CFDs without the need to install the software. The financial news, real-time analysis, and charts are also offered directly by the use of PROfit.
- Mobile PROfit
It offers the option of downloading the FXGM ZA app freely on iOS and Androids, allowing you to execute the trade instantly.
The highly professional environment for trading gives equal opportunities to beginners and professional traders.
Commission and Fees
Being an STP broker,the offers of FXGM ZA change with the changing market conditions. However, the actual costs are determined by the type of account used by the trader.
You can deposit and withdraw the funds in several ways with no fees charged for them. You also get fantastic customer service.