July 11, 2020

GMT Markets Review 2020 – Is GMT Markets Scam?

gmt marketplaces review

Regulators: ASIC

Cryptocurrencies: YES

Minimum Deposit: $500

Maximum Leverage: 1:200

Spreads: Medium

My Score: 6.0

Today I will introduce one to GMT Markets. GMT Markets is an Australian Forex & CFD trading services provider.

According to the web site of the broker, GMT Markets was set in 2011 with a way of a band of forex pros and tech experts with extensive industry experience.

So, in this GMT Markets review you will learn all of the information concerning it broker. Can Be GMT Markets controlled? what are the accounts sorts of GMT Markets? Are the trading requirements such as spreads, manage, and minimal deposit? Can Be GMT Markets scam or Trustworthy?

Regulation of GMT Markets

GMT Markets is your registered company name of GMTK Global Pty. Ltd. GMT Markets is licensed by the Australian Securities and Investment Commission (ASIC) with permit number 400364.

gmt marketplaces regulation

GMT Markets is an associate of the Australian Financial Ombudsman Service (FOS). FOS could be your External Dispute Resolution Scheme in Australia which manages all customers ‘ complaints.

Also, the funds of all Australian clients in GMT Markets are deposited in the segregated client trust account of National Australia Bank.

GMT Markets also provides clients with balance safety. It guarantees that clients’ losses cannot be a lot more than their deposit.

ASIC could be your ruler of the Australian financial services and marketplaces. The agent demands several strict financial rules into the brokers. As an instance, ASIC regulated brokers must hold $1,000,000 minimum net funding.

ASIC is among the very reliable financial institutions, Together with the National Futures Association (NFA) at the US, that the Cyprus Securities and Exchange Commission (CySEC), and also the Financial Conduct Authority (FCA) at the UK.

These regulatory watchdogs induce a broker to decrease the probability of scam and also to guarantee that the security of their customer ‘s funding.

The broker now offers absolutely free to prevent losses on FX, XAUUSD (Gold) along XAGUSD (Silver) tradings. It can help protect your trades out of marketplace gapping or money volatility.

Account Types and Spreads

There is Just One Standard account kind. Let’s look at just what the broker supplies to its own customers for this particular.

The minimum deposit is $500 that will be higher compared to the industry average. The majority of the brokers require a $250 deposit.

The spreads have been mended 1.5 pips on EUR/USD. The most leverage is 1:200. I am able to express that the trading requirements are somewhat competitive.

However, when the wind blows in the other way, you ought to make use of the greater leverage carefully due to the chance of losing your own funds.

But you should mention that the Australian Securities and Investment Commission could be the sole leading regulator that let longer leverage ratio.

The European Securities and Markets Authority (ESMA) decreased the highest leverage permitted for forex trade at the European Union into 1:30. Similar regulators decrease the most leverage ratio at the US into 1:50 and also in Japan into 1:25.

Trading Platforms

The broker Offers the hottest trading platform MetaTrader 4. This stage is designed for Windows, Apple apparatus, and Android apparatus. You might even utilize the MT4 without downloading everything.

MT4 continues to be the very widely used trading platform since it’s reliable and light, it’s a userfriendly interface, many charting programs and also over 50 marketplace indexes.

MT4’s best-known feature is your ability to produce automated trading using particularly designed, automated trading boots or Expert Advisors.

Trading Instruments

GMT Markets delivers a wide assortment of trading services and products for example forex, CFDs and commodities and metals, and energy, Cryptocurrencies and agricultural tools.

There are 32 forex pairs using exotic currencies like the Chinese Yuan, Singapore Dollar. Metals are golden and silver, energies are petroleum and gas. There’s not any advice in regards to the Cryptocurrencies.

Payment Methods

There Are Many deposit and withdrawal options offered by the broker. You’ll deposit or draw through MasterCard, Visa, bank/wire transport, UnionPay, Bpay, Poli Internet Banking.

Some favorite e-wallet systems are overlooking as Neteller, Skrill, and Paypal. There’s not any Bitcoin and also other cryptocurrencies option too.

Conclusion

GMT Markets is now a Trusted forex broker who governed by ASIC. As a result of the particular regulation, the broker offers safety to look after the customers ‘ funds.

It seems the trading conditions are competitive, however, the minimum initial deposit is a little bit high. The maximum leverage is high.

If you want to find a better broker who offers better trading conditions you can check my top forex brokers list above the page.

GMT Markets

5.4

Trust

6.0/10

Commissions and charges

5.0/10

Customer Service

5.0/10

Platform & Tools

6.0/10

Product Portfolio

5.0/10

Pros

  • Regulated by ASIC
  • MT4 endorsed

Cons

  • Limited Payment Methods