GXCM Forex Broker Review
GXCM
Details
| Broker | GXCM |
|---|---|
| Website URL | https://www.gxcm.finance/ |
| Founded | 2016 |
| Headquarters | England |
| Support Number | +61 12345678910 |
| Support Types | Email and Phone |
| Languages | English |
| Trading Platform | Web-trading platform |
| Minimum 1st Deposit | $250 |
| Minimum Account Size | $250 |
| Leverage | Up to 1:100 |
| Spread | Floating |
| Free Demo Account |
 |
| Account Types | Standard |
| Deposit Methods | Credit/Debit card and Bank wire transfer |
| Withdrawal Methods | Credit/Debit card and Bank wire transfer |
| Number of Assets | 3,000+ assets |
| Types of Assets | Forex, Shares, Indices, Futures, Commodities, and Cryptocurrencies |
| US Traders Allowed |  |
| Mobile Trading |
|
| Tablet Trading |
|
| Overall Score | 88 |
Pros
- Easy-to-use platform
- Low investment entry cost
- User-friendly Mobile Trading
Cons
- Moving money and re-balancing your portfolio takes a bit of a manual input which does take considerable time especially if you’re managing multiple accounts
- Internet-dependent
- offers no REIT ETFs
GXCM is an online CFD and cryptocurrency trading platform owned by GXCM LTD, currently providing access to more than 3,000 CFDs. Retail forex traders might be attracted by the offering, considering there are now more than 50 different FX CFDs available, which means it is possible to take advantage of new trading opportunities occurring across all the popular and less-known currencies.
Even though this is a multi-asset offer, there continues to be a strong demand for FX trading services, especially now that the increased volatility is helpful for short-term traders. With the resources and trading benefits offered by GXCM, are traders able to get involved in the largest financial markets professionally?
Our GXCM review will analyze some of the most important benefits and ultimately provide a short conclusion on the brand. It will be up for each of you to decide if this is the right platform to work with, based on personal objectives, trading strategies, and last but not least, geographical location.
Trading Platforms
Since it considers that the current offer represents one of the most innovative ways to trade, GXCM is backed by proprietary trading software, built with the trader’s needs in mind. Developed by a team of experts, the platform is a web-based solution compatible with any device (desktop, laptop, or mobile) able to meet the challenges raised by volatile markets.
Among the most notable tools, we need to mention the TradingView charts, market news, risk management tools, and plenty of other customization features are built into the platform to facilitate trading for all traders, regardless of their experience.
It is important to note that the platform is available in English only. Also, this is the only trading solution available. However, since it can be accessed via the GXCM traderoom, there are no concerns in terms of convenience. Some may argue that a mobile app would have been appropriate, but this web-trading solution can work well on mobile.
Account Types
GXCM is advocating for the democratization of trading and as a result, all its customers get access to the same standard trading account. The most important trading benefits provided are the following:
- Market-leading spreads
- Education center & trading guides
- Latest economic and market news
- Fast trading execution
- Exclusive positions
- 24/6 customer support
- Access to exclusive reports
- One-on-one with trading experts.
To make deposits/withdrawals, traders can use credit/debit cards or bank wires, taking advantage of some of the most secure funding methods. Before making a withdrawal, traders need to verify their trading account by submitting identification documents. In terms of the withdrawal fees, for a credit/debit card operation it is currently set at 3.5%, $20 for a bank wire, and in case the withdrawal amount is less than 100 USD/GBP/EUR, the fee will be $20.
In case there is no activity on a trading account for more than 3 months, it will be subject to a dormant account fee of 0.5% of the account balance or 50 USD/EUR/GBP, whichever of the two is higher.
Trading Conditions
With more than 3,000 trading assets available, traders will find the best-suited instruments for their trading strategy and country of residence. In terms of FX pairs, it is possible to trade on the majors, minors, and exotic pairs, with variable spreads and 0 commission. On top of the spreads, it is important to take into account the overnight swap that will apply when holding trades for more than a day.
GXCM offers multiple educational resources for customers that want to learn how to trade or get more insights into the market. With the expert analysis provided, they can find valuable information about some of the leading assets. Also, one-on-one with trading experts is another great way to learn from the best.
Customer Support
The brand stands ready to help customers easily find the exact answers to their questions and offer the best user experience. On top of the comprehensive FAQ section, customer support is also available via phone or email. There contact details for the support desk, back office, accounts, and client relations provided on the website.
Summary
GXCM is a multi-asset trading platform built with the trader in mind. At a time when financial markets are active, the brand wants to address an audience of traders that had been ignored by all the large brokerage houses. To do so, it offers access to a comprehensive list of assets, a proprietary platform, educational resources, and plenty of other benefits that have a proven efficiency. Based on the information available on its website, GXCM looks to be a trading brand with a customer-oriented approach.
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