Score

1.59 /10
Danger

FXGM

Suspicious Regulatory License

Suspicious Scope of Business

Spain Retail Forex License Revoked

Suspicious Overrun

High potential risk

D

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Comparison

Quantity 17

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.59

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Regulatory disclosure

Broker Information

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Company Name

Depaho Ltd

Company Abbreviation

FXGM

Platform registered country and region

Cyprus

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 9
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 16 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

Pyramid scheme complaint
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    FXGM · Company summary

    General Information & Regulation

    FXGM is the trademark name of Depaho Ltd, which provides CFD trading services on foreign exchange, commodities, and stocks for retail and professional clients worldwide. Depaho Ltd holds licenses authorized by several regulatory bodies, such as the full license of Cyprus CySEC (license number 161/11), the retail foreign exchange license of Germany BaFin (license number 130520), the retail forex license of the BDF in French, the EU authorization license of the FCA of the UK (license number: 593528), the financial services enterprise license of the FSCA of South Africa (license number: 47709), and the retail foreign exchange license of the CNMV of Spain (license number: 3321), and the retail forex license of CONSOB of Italy (license number 3567)

    Market Instruments

    FXGM provides investors with a wide range of trading assets, mainly foreign exchange currency pairs, commodities, precious metals (gold & silver), indices, ETFs, cryptocurrencies, and stocks.

    Minimum Deposit

    Nine forex trading accounts are available on FXGM platform: the Basic, Discovery and the Silver. The minimum initial deposit to start a basic account is $200, quite reasonable compared with most brokers.

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    Leverage

    The leverage of foreign exchange currency pairs, gold, silver, and oil in professional accounts is 1:200, the leverage of the remaining commodities is 1:100, the leverage of index CFDs is 1:100, and the leverage of single stock CFDs and exchange-traded funds is 1:10. Compared with professional accounts, the leverage of retail accounts is obviously much more conservative. For example, the leverage of major currency pairs is 1:30, 1:20 for gold and major indices, and 1:5 for single stocks and ETFs.

    Spread & Commissions

    The spread for EURUSD on the FXGM platform is 4 pips, gold 1 pip, silver 0.06 pips, Brent oil is 0.12 pips, the spread of ADX General is 20 pips, ASX200 4 pips, CAC40 4 pips, BitUSD 1300 pips, Ether 48 pips, Adidas stock 1.5 pips, ABB stock 1.5 pips.

    Trading Platform

    Instead of the most popular MT4/MT trading platform in the market, FXGM provides traders with WebPROfit and Mobile PROfit. WebPROfit is compatible with all major browsers, including Chrome, Firefox, IE, and many others, and investors can trade foreign exchange, commodities, and CFDs without downloading. Mobile PROfit, on the other hand, allows traders to access WebPROfit via cell phones and tablets.

    Deposit and Withdrawal

    FXGM supports traders to deposit and withdraw funds to and from their investment accounts through a series of convenient payment methods, such as VISA/MasterCard/Maestro credit/debit cards, wire transfer, Skrill, Neteller, PayPal, RAPID Transfer, MyBank, etc.

    Trading Hours

    The FXGM site is available to traders 24/7. The trading hours for each asset are given on the broker product sheet and depend on the market. For example, forex runs 24 hours a day from Sunday at 9 pm to Friday at 9 pm (GMT).

    Accepted Regions

    FXGM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. Traders can not use FXGM from United States, Canada, Belgium, Iran.

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    User comment

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    Comments

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    majk majk
    more than one year
    Truffa.
    Truffa.
    Translate to English
    2023-10-13 20:00
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    0
    1
    lllll
    more than one year
    All of FXGM's regulatory licenses have lapsed and it has received many complaints. When I opened their website, I found that the website seemed to be down. I can't scroll.
    All of FXGM's regulatory licenses have lapsed and it has received many complaints. When I opened their website, I found that the website seemed to be down. I can't scroll.
    Translate to English
    2023-02-20 18:36
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    17