GMI EDGE BROKER PROS AND CONS
We have used the service to test out the broker, trying to compare every aspect; Swap, Spread, Commission, Inquiries Service, Support, Deposit and Withdrawal, and all the services of GMI Edge Broker and figure out what is suitable for traders.
- Very low spread on ECN accounts.
- Fast order execution system.
- Offer Bonus
- Swap-Free on ECN accounts
- The overall system is still lacking in reliability.
- Deposits and withdrawals through third-party agents.
- Leverage cannot be selected.
- Leverage is floating, i.e., adjusted according to equity.
- Deposit money into your account and not trading and then while withdrawing money, it will be deducted.
GMI EDGE BONUS
There are two types of GMI Deposit bonuses: 30% Deposit Bonus up to $500 and 15 % Deposit Bonus upto 5000$.
Deposit Bonus 30%: This is a Deposit Bonus that is only given to the first deposit and withdrawal of the trading account. The balance is limited to 500 USD per person, that is, if you deposit 100 USD, you will receive 30 USD, with a maximum amount that does not exceed 500 USD.
Deposit Bonus 15%: This is a bonus amount for deposit, i.e., if deposit 100 USD, you will get a 15 USD Equity Bonus, the maximum amount you can get is not more than 5000 USD. If you get 5000 USD, then you will not receive it again
GMI EDGE BROKER FREE VPS
Currently, GMI EDGE does not offer VPS.
GMI EDGE SPREAD AND SWAP INFORMATION
1. GMI EDGE SPREAD
Our spread and swap cost calculations are already charged per 1 lot open order size of the Standard account (100,000 USD per 1 lot), so the value shown is in USD.
There are four types of GMI Edge accounts Standard account, Standard account (Bonus), Cent account, and ECN account. To assess the broker’s spreads and swaps, we conduct a test from spread check that includes commission costs, to compare the commission-free brokerage from all 4 types of accounts in real-time situations at different times, then averaged spread data is obtained as follows:
2. GMI EDGE SWAP
The daily cost of holding a trader’s position when trading with GMI Edge is charged when opening a 1 Lot Standard (100,000 Lot) order. It shows the daily cost of holding 1 Lot Standard account size as follows:
Spread and Swap comparisons of all brokers can be viewed to create a trading strategy. Build your own trading advantage here.
3. GMI EDGE COMMISSION
GMI EDGE has no commission for Standard account, Standard account (Bonus), and Cent account, but the commission fee for ECN account is $4 per lot, which is higher than other brokers, 1 USD per lot because the broker charges 3.5$ commission per lot, opening and closing positions will cost more.
OTHER GMI EDGE INFORMATION
The GMI Edge Broker has been established since 2009. However, they have been able to make it to the top trading providers in a short period of time. The services of the GMI Edge broker are although have not entered the market for a long time, but there is an increasing number of service users.
GMI Edge is financially registered with the country in which its office is located with the following information:
- Financial Conduct Authority (FCA)
- Vanuatu Financial Services Commission (VFSC)
GMI EDGE ACCOUNT USAGE
Opening a GMI Edge Broker Account can be done through the Platform on the website. However, there is Support available as well. You can contact Support via Live Chat.
1. GMI Edge Forex Account Opening Documents
Documents required to open a trading account with GMI Edge Broker include:
- Identity verification documents is either ID card or Passport.
- The address verification document must be the same as the address shown on the identity card, a copy of the house registration is recommended.
2. GMI EDGE Account Types
There are several Pepperstone Forex trading account types with different pros and cons and features designed to allow traders to choose based on their strategy and funds.
GMI Edge’s order execution system includes a Standard account system, Standard (Bonus) account, Cent account, and an ECN account, which are suitable for a wide range of customers with a variety of account types to choose from.
The best GMI Edge account is the ECN Free Swap account as it is the most attractive option among the Forex brokers.
The table shows the account types of GMI Edge Forex Accounts.
GMI EDGE Support Service
We conducted a test communication with Support via chat and made an assessment according to the criteria; able to fix the problem, promptness of service, problem-solving intention, not just sending a link to read to acquire answers. Therefore, we have reviewed the broker and found the following service problems:
- Support service is available through a variety of channels, including Facebook: GMI EDGE TH, Line: @gmiedgeth, Live Chat (website), and Email.
- There is Support service staff available on Monday-Friday from 9:00 a.m.-6:00 p.m. (The staff informs that the operation time is from 9:00 a.m.-11:00 p.m., which is incorrect), closed on weekends and public holidays.
- The Support staff makes an effort to answer customers’ questions by searching for related information.
- The Support staff does not completely answer all questions (not answering questions on bonus).
- The Support staff does not ask if the customer has any additional questions, immediately cut off.
- The staff has provided detailed information well, demonstrating a willingness to answer questions.
“Overall, the disadvantage of GMI EDGE’s Support is that they do not answer all questions, support staff does not provide information in detail and service is not available during the holidays.”