Company Name
GMI Global Market Index Limited
Company Abbreviation
GMI
Platform registered country and region
Saint Lucia
Company website
Company summary
Pyramid scheme complaint
Expose
| GMI Review Summary | |
| Founded | 2009 |
| Headquarters | United Kingdom |
| Regulation | FCA |
| Market Instruments | Gold, silver, crude oil, forex, index |
| Demo Account | ✔ ($100,000 virtual fund) |
| Islamic Account | ❌ |
| Leverage | 1:2000 |
| EUR/USD Spread | From 0.0 pips |
| Trading Platform | MT4, MT5, GMI EDGE |
| Copy Trading | ✔ |
| Minimum Deposit | $200 |
| Customer Support | Live chat, contact form |
| Phone: +86 400 842 7770 | |
| Email: cs@gmimarkets.com | |
GMI Information
GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including gold, silver, crude oil, forex, and index via the MT4, MT5 and GMI EDGE platforms.
Pros & Cons
| Pros | Cons |
| • Regulated by FCA | • Limited range of trading instruments |
| • Wide range of account types | • Limited educational resources |
| • Competitive leverage | • Limited research and analysis tools |
| • Commission-free trading | • High minimum deposit requirement ($200) |
| • Copy trading feature supported | • Lack of info on deposits and withdrawals |
Is GMI Legit?
GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk.
Market Instruments
GMI offers popular markets across different asset classes, including gold, silver, crude oil, forex, and index. Other assets like stocks, options and cryptocurrencies are not available.
Account Types
GMI offers four types of accounts.
The ECN Account requires a minimum deposit of $100, with a contract size of 100,000 and USD as the base currency. The CENT Account has a lower minimum deposit of $15, a contract size of 1,000, and also uses USD as the base currency. The Standard Account requires a minimum deposit of $25, with a contract size of 100,000 and USD as the base currency. Similarly, the Standard Bonus Account also has a minimum deposit of $25, a contract size of 100,000, and USD as the base currency.
| Account Type | ECN | CENT | Standard | Standard Bonus |
| Minimum Deposit | $100 | $15 | $25 | $25 |
| Contract Size | 100,000 | 1,000 | 100,000 | 100,000 |
| Base Currency | USD | USD | USD | USD |
| Select Your Own Leverage | Yes | Yes | Yes | Yes |
| Expert Advisor | Yes | Yes | Yes | Yes |
| Suitable for Social Trading | Yes | Yes | Yes | Yes |
| Commission | $4 per lot | No | No | No |
| Max. Order (MT4 - MT5) | 500 | 200 | 500 | 500 |
| Max. Order (GMI Edge) | 1,000 | 1,000 | 1,000 | 1,000 |
| Leverage | Up to 1:500 | Up to 1:1000 | Up to 1:2000 | Up to 1:2000 |
| Max. Lot per Trade | 50 | 150 | 50 | 50 |
| Swap Free | Yes | Yes | Yes | Yes |
Leverage
The leverage offered by GMI varies from 1:500 for the ECN account to 1:2000 for the Standard and Standard Bonus accounts, with the CENT account offering 1:1000 leverage.
| Account Type | Leverage |
| ECN | Up to 1:500 |
| CENT | Up to 1:1000 |
| Standard | Up to 1:2000 |
| Standard Bonus | Up to 1:2000 |
Spreads & Commissions
The ECN account charges a $4 per lot commission, while the other accounts do not charge commissions. GMI offers very low spreads, starting from 0.01. Below are the spreads for various trading instruments.
| Instrument | Spread (From) | Trading Time |
| EURUSD | 0.0 Pips | Monday-Friday : 00:05-24:00 |
| USDJPY | 0.0 Pips | Monday-Friday : 00:05-24:00 |
| GBPUSD | 0.0 Pips | Monday-Friday : 00:05-24:00 |
| EURGBP | 0.0 Pips | Monday-Friday : 00:05-24:00 |
| EURJPY | 0.0 Pips | Monday-Friday : 00:05-24:00 |
| XAUUSD | 0.0 Pips | Monday-Friday : 01:00-24:00 |
| XAGUSD | 0.1 Pips | Monday-Friday : 01:00-24:00 |
| USOUSD | 1.2 Pips | Monday-Friday : 01:00-24:00 |
| UKOUSD | 1.4 Pips | Monday-Friday : 03:00-24:00 |
| XNGUSD | 0.3 Pips | Monday-Friday : 01:00-24:00 |
| XAUEUR | 0.1 Pips | Monday-Friday : 01:00-24:00 |
| XAGEUR | 0.8 Pips | Monday-Friday : 01:00-24:00 |
| U30USD | 1.6 Pips | Monday-Friday : 01:00-24:00 |
| SPXUSD | 5.1 Pips | Monday-Friday : 01:00-24:00 |
| NASUSD | 0.9 Pips | Monday-Friday : 01:00-24:00 |
| D40EUR | 0.6 Pips | Monday-Friday : 01:00-24:00 |
| 100GBP | 0.9 Pips | Monday-Friday : 01:00-24:00 |
| F40EUR | 1.0 Pips | Monday-Friday : 01:00-24:00 |
| HSIHKD | 3.6 Pips | Monday-Friday : 01:00-24:00 |
| CHN50U | 6.0 Pips | Monday-Friday : 01:00-24:00 |
| US Shares | 0.01 Pips | Monday-Friday: 4:30:30 PM to 10:59:50 PM |
| HK Shares | 0.01 Pips | Morning: 4:30 AM to 7:00 AM, Afternoon: 8:00 AM to 11:00 AM |
Trading Platforms
GMI offers its clients three choices of trading platforms, the popular MetaTrader 4, MetaTrader 5, and its proprietary GMI EDGE. Both MT4 and MT5 are equipped with a variety of tools and features for technical analysis, order management, and customization. They also support automated trading with the use of Expert Advisors (EAs). GMI EDGE can be downloaded through Android and Web devices.
Copy Trading
GMI offers copy trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's copy trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.
Customer Service
Live chat, contact form
Phone: +86 400 842 7770
Email: cs@gmimarkets.com
Conclusion
Based on the analysis of GMI, it is a regulated and reputable broker that offers competitive spreads and commissions, and a choice of different account types, as well as good customer support. One downside of GMI is its limited range of trading instruments and educational resources. Additionally, it requires a high minimum deposit to open an account. Overall, GMI is a solid option for traders who prioritize MT4/5, demo trading and competitive pricing.
FAQs
Is GMI regulated?
Yes. GMI operates legally, and it is regulated by FCA in the UK.
Does GMI offer demo accounts?
Yes. GMI offers demo accounts with $10,000 virtual capital.
Does GMI offer industry-standard MT4 & MT5?
Yes. Both MT4 and MT5 are available.
What is the minimum deposit for GMI?
$200.
Is GMI a good broker for beginners?
Yes. Overall GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. But the minimum deposit requirement of $200 may be high for beginners.
Risk Warning
Online trading carries substantial risk, potentially leading to the total loss of invested funds.
