FGAM Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-11-17 18:10

Abstract：FGAM is an online broker registered in China, with its founding time, actual address, and the company behind it unknown. Although FGAM claims that it is a European license broker, there is zero evidence that can prove it is regulated by certain regulatory agency. In fact, FGAM is not subject to any regulation.

　　General Information & Regulation

　　FGAM is an online broker registered in China, with its founding time, actual address, and the company behind it unknown. Although FGAM claims that it is a European license broker, there is zero evidence that can prove it is regulated by certain regulatory agency. In fact, FGAM is not subject to any regulation.

　　Market Instruments

　　In terms of tradable financial instruments, FGAM advertises that it can offer more than 60 trading assets including Forex Currency Pairs, Stocks, Futures, Crypto Currencies, Bonds and Options.

　　Minimum Deposit

　　FAGM offers four investment plans for all traders, namely Simple, Professional, Advance and Enterprise. The minimum deposit for each plan is not mentioned, but deposit amount limit for each account clearly displays, less $10,000 for Simple plan, $10,000-$25,000 for Professional Plan, $25,000-$50,000 for Advance Plan, $50,000 for Enterprise Plan.

　　 Leverage

　　Trading leverage for particular instruments is not fully disclosed as per FAGMs official website. the maximum leverage level for forex trading is not mentioned, for Crypto currencies, leverage up to 1:5, for Bonds, leverage up to 1:3.

　　Spreads & Commissions

　　Spreads for forex is same for all four investment plans, only commissions differ. Take the EUR/USD pair for example, the spread on EURUSD is from 1.5 pips to 2.5 pips, with a commission of 8 USD per lot for the Simple Plan, 6 USD for the Professional Plan, 5 USD for the Advance Plan and the Enterprise Plan.

　　 Trading Platform Available

　　When it comes to trading platform available, FAGM offers MT5 trading platform, available for Windows, Web, Mobile devices. MT5 is a multi-asset platform that allows trading forex, stocks and futures. It offers superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisor) and copy trading.

　　Customer Service

　　FGAM claims that it offers 24/7 customer support, and they can be reached through email, as well as a virtual telephone number.