FXGM Review: A KNF Warning and Withdrawal Complaints to Check Before You Deposit

FXGM is the trading name of Depaho Ltd, a Cyprus-based CFD broker. The verifiable data points the other way: a WikiFX score of 1.33 and a public warning from Poland's financial supervisor. This review walks through the regulatory record and withdrawal complaints so you can decide whether to fund an account.

WikiFX Dealer Page

Regulatory Status and Safety

WikiFX's regulatory record shows no licence currently in an active, supervised status for FXGM. A more serious signal is a regulatory disclosure: on 19 April 2024, Poland's KNF published a public warning naming Depaho Ltd (FXGM at pl.fxgm.com), stating the entity is not registered in Poland.

Withdrawal Complaints

The complaints on file point in one direction. A South African user reported that a planned R3,500 minimum deposit became a R43,500 loss after support staff pushed them to keep adding capital, claiming positions were “protected”; follow-up emails were then ignored, according to the complaint.

Screenshot submitted by the user with the complaint (2020-11)

A Spanish user said they were offered bonuses not permitted for retail clients and were classified as a professional customer without ESMA categorisation. The same complaint states that withdrawal requests were not honoured and a police report was filed.

Screenshot submitted by the user with the complaint (2021-06)

A Hong Kong user reported that their account was blocked within about ten minutes of emailing to ask about withdrawals.

Final Thoughts

Between a Polish KNF warning, no confirmed active licence and a cluster of withdrawal complaints, FXGM presents a risk profile that is hard to overlook. The broker's own materials describe a full-service platform, but the facts we can verify do not support treating it as a safely regulated home for funds.

If you are still considering FXGM, verify the current licence status directly with the regulators, start small and test a withdrawal before committing larger amounts. You can track the live WikiFX score and the full complaint record on the WikiFX App.