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What Is and How Does FXGM ZA Work?
Online trading represents one of the highest grossing sectors on a global scale, and it brings closer investing to a huge population of users that might only have access to a smartphone. Nowadays, there is an incredible pool of safe trading platforms which are optimised for trading on mobile devices. So, if you're just starting out as a beginner or you want to trade as an experienced investor, there are more than enough options to choose from. However, it's important to be aware of the regulations in the market as well as all the reliability of each online trading site since the trading market is decentralised, and if you want to start operating as a complete newbie on FXGM ZA, there are great resources that would help you out along the way.
So, without further ado, let's dive into our FXGM ZA review, where you will learn the most important aspects of trading on the site. Regulations of FXGM ZA As we mentioned earlier, the online trading market is really decentralised, which means there are many different trading sites to choose from. For example, you can trade cryptocurrencies on specific crypto trading sites, or you can find the trading platform which offers a more comprehensive set of options that range from stocks, cryptocurrencies, futures, and much more.
But because the market is distributed, there are actually many different trading sites that are accessible only to a certain audience, or they specifically cater to members from international markets. For example, there is an FXGM broker based in Cyprus, which is a completely different company as well as a trading platform from FXGM ZA which is under the jurisdiction of the South African Financial Sector Conduct Authority.
Because FXGM ZA is licensed properly, you can rest assured that your data is safe and the trading platform continues to operate according to the most recent standards, regulations, and laws, enforced by the South African Financial Sector Conduct Authority. So if you have FXGM ZA complaints, you won't be left hanging but actually, there would be an appropriate response and resolution to your issue as this is a reliable trading site.
FXGM ZA Commissions
There are a couple of factors that impact the commission fees. First, there is the type of account and the assets that you have added to your portfolio. Also, there are currency conversion fees that you should be aware of, as well as the open positions of your account which also boost your commission fees. For example, there is a 0.50% of overnight exposure fee for cryptocurrencies. Lastly, there are also administrative fees that are paid for the maintenance of your account, and the fees can go up to $500 if your account is left inactive for over three months.
Assets and Account Types on FXGM ZA
On the FXGM ZA broker, there is a great portfolio of assets, including shares, cryptocurrencies, indices, hard and soft commodities, CFDs, and more. So, it's safe to say that it doesn't matter whether you're interested in crypto or you want to branch out onto add other assets to your portfolio. There are plenty of options for every type of investor. This leads us to the account types on FXGM ZA which are important for every investor.
There are different perks associated with each account type but keep in mind that the more exclusive accounts offer better perks, and according to that, they require a much higher deposit. With the Junior account, you'll get to access one-click trading, trading insider, pop-up alerts, customer support, and more. The deposit ranges from $200 to $9,999 for this account, which is the most accessible for investors that are just starting out with limited resources. The next account type is Premium which costs between $10,000 and $29,999.
You will have a chance to explore the same benefits as the Junior account in addition to a personal customer support agent. The VIP account marks the main difference between the regular Junior and Premium accounts and the more exclusive accounts because with the VIP account, you will receive spread discounts on commodities, indices as well as FX majors. Keep in mind that on the platform, you will find 40 major forex currency pairs.
The initial deposit for a VIP account is between $10,000 and $49,999. The Royal and Executive accounts have the same benefits as the VIP account; however, the following despots are required by the user - above $100,000 for the Royal account and between $50,000 and $99,999 for the Executive account. What's more, every member on the platform gets a free e-book and training to help them start trading successfully on their own.
FXGM ZA Trading Platform
The FXGM ZA platform has two trading platforms suitable for mobile users - Mobile PROfit and web-based version Web PROfit. Also, both are compatible with Android and Apple devices.
This version is great if you don't mind trading from your computer or if you use your smartphone; you can easily access the web-based trading platform through your smartphone's browser. It offers over 100 tradable assets, access to relevant news, analysis and alerts, customer support, and more.
This is a high-quality mobile application that you can download from the App Store or to the Google Play store. You can edit your positions and place trades from your smartphone, access the economic calendar, receive currency quotes, and more.
Total Investment Insurance
As a member here, you will have full capital protection on up to 10 trades and negative balance protection. The latter is a great policy of the trading platform, which is meant to protect the members regardless of their current account type.
Opinions and Reviews of FXGM ZA
You could expect to find only great opinions and customer reviews from past users on FXGM ZA. They rarely deal with any negative press or FXGM ZA complaints. So, you can rest assured that you are in good hands here.
In conclusion, if you're looking to start trading as a beginner, this is a great trading site that will satisfy your needs with a wide range of trading instruments. Furthermore, it keeps up with the latest trends and has a reliable mobile application for both Android and Apple users. So, all you need to do before you start trading is to create a good financial budget.
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