Online trading represents one of the biggest digital trends right now. It is very easy to start trading on both your computer or mobile device, as there is a surge of web-based and mobile trading platforms which will allow you to access your account and trade from the go, whenever it’s convenient for you.
Another advantage is that you have the opportunity to trade literally every asset online – from cryptocurrencies, NFTs, Forex, CFD trading, and many other options. There is a huge hype around online trading as many beginners without any relevant experience are looking to start trading on reliable sites, and for this purpose, there are actually trading platforms that are customized for beginners and offer different programs to make trading easier for them and help them improve their skills and knowledge.
For example, there are excellent programs for both beginners and more experienced investors on FXGM ZA, and here we will cover everything you need to know about the reliable trading site. On that note, it’s important to clarify one common misunderstanding, and that is FXGM ZA is a completely different trading platform from the broker FXGM.
FXGM ZA is licensed by the FSCA and operates according to the South African legislation for this market, while the FXGM broker is a Cypriot investment firm. So, with that out of the way, check out our comprehensive FXGM ZA review as it delves into more detail about the platform.
FXGM ZA Regulations
Because the online trading market as one couldn’t imagine is completely centralized, you should be aware that each legitimate trading site is actually regulated by a specific governing body. For example, the FXGM ZA specifically is a trading site licensed by the South African Financial Sector Conduct Authority, and it operates under the jurisdiction of that regulatory body, according to their regulations and standards. So, in other words, if you are looking to trade on a completely reputable and safe trading side, then you can rest assured that FXGM ZA is safe.
They care about their members, and the customer support team is easily reachable should you have any further questions or concerns. The same applies to FXGM ZA complaints, as they try to resolve any complaint in a timely manner. Overall, a valid license is an important indication that the trading platform adheres to the latest regulations, standards, and laws.
The fees you need to pay are based on multiple factors – the type of account, open positions of your account, and additional transaction fees which are charged for certain assets like CFDs, for instance. On top of that, there are account maintenance fees as well as inactivity fees. Plus, there is a 0.015% of overnight exposure for the FX financing fee, and if you’re trading crypto, then this fee is about 0.1%. So, if you’re calculating your fees, make sure to take into consideration all of the above-mentioned factors as well as the type of assets in your portfolio.
This leads us to one of the most significant aspects of any online trading site, and that are the available assets that you can add to your portfolio as a member of the platform. On FXGM ZA broker, you can invest in stocks, CFDs, cryptocurrencies, futures, hard and soft commodities, and choose from 40 major forex currency pairs.
The stocks cover famous brands on a global scale like Tesla, Amazon, and Google, to name a few, while some of the major currencies available are JPY, USD, AUD, ZAR, GBP, and others. In terms of commodities, you can choose from gold, gas, and crude oil.
Account Types of FXGM ZA
As a member, you can choose from the following account types – VIP, Premium, Executive, Royal, and Junior. Each account you have offers unique features and benefits. However, as this site caters to beginners, they offer all of their members, regardless of their status – free training along with a useful e-book, and it’s worth noting that all of the instruments are available to all account types.
Junior account, as the name suggests, is perfect if you’re just starting out as you will access one-click trading, dedicated customer support, pop-up alerts, autochartist, among other perks. For this account, the initial deposit ranges from $200 – $9,999.
The next best account is Premium, available with a minimum deposit between $10,000 and $29,999. On top of the previous perks, you will also receive a personal customer service agent, trading insider, and other advantages.
Lastly, the main difference between the Junior and Premium accounts and the VIP, Executive and Royal accounts in terms of benefits are spread discounts on FX Majors, commodities, and indices. For the VIP account, the initial deposit is $30,000- $49,999. For the Executive account, the costs range between $50,000- $99,999, while for the Royal, you will need a deposit of at least $100,000.
FXGM ZA Trading Platform
As this is a modern trading platform, FXGM ZA is optimized for both desktop devices and smartphones. Let’s take a look at Mobile PROfit and Web PROfit.
The web-based version is accessible from your smartphone’s browser, and it’s also compatible with both Android and Apple devices. In case you don’t want the mobile app, you can still get access to your account, the customer support team, the trading tools, and more.
This is a user-friendly mobile application downloadable on Android and Apple mobile devices. It has the same functionalities and features as well as the desktop version.
Total Investment Insurance
FXGM ZA is known for its negative balance protection available to every member on the site. Just make sure to make financial decisions according to your financial goals and budget.
Opinions and Reviews of FXGM ZA
Based on the recent reviews, you will find that most are positive, and there are rarely any FXGM ZA complaints, which further proves that this is a high-quality online trading site.
In conclusion, FXGM ZA is a reliable online trading platform, with over 300 trading instruments and many great features perfect for every investor, regardless of their experience. The platform is up to date with the latest standards, optimized for trading from mobile devices. But, before you start trading and choose your account type, make sure to reevaluate your financial plan and goals.