Website: www.gmimarkets.com
Min. Deposit: US$ 25
Leverage: 1:30 | 1:200
Trading Platforms: MT4, Alpine Trader, ClearPro, MTF, Currenex
Regulation: FCA, VFSC
Headquarters: Shanghai
Founded: 2009

Regulatory Licenses:

• Global Market Index Limited (GMIUK) – authorized by FCA (UK) registration no. 677530

• Global Market Index Limited – authorized by VFSC (Vanuatu) registration no. 14646

In a Snapshot

• Updated on: February 26, 2024

• Min. Deposit: $25

• Leverage: Up to 1:200

• Platforms: MT4, Alpine Trader, ClearPro, MTF, Currenex

• Spreads: From 1 pip

• Regulations: FCA, VFSC

• Headquarters: Shanghai, China

Our Review Method

Our review methodology is based on an exhaustive evaluation of GMI’s trading services, regulatory compliance, customer support, trading conditions, fees, and platform functionality. This review also includes comparative analysis against over 1000 brokers to ensure a fair, unbiased assessment.

What is GMI?

GMI (Global Market Index) is a prominent Forex and CFD broker founded in 2009 and headquartered in Shanghai, China. It offers a broad spectrum of trading instruments including Forex, CFDs, indices, commodities, and cryptocurrencies. The company has a strong regulatory presence, with licenses from the FCA in the UK and VFSC in Vanuatu.

GMI operates on a No Dealing Desk (NDD) model, ensuring transparent execution without dealing desk interference. The broker offers advanced trading platforms like MT4, Alpine Trader, ClearPro, and Currenex, making it suitable for both retail traders and institutions. The low minimum deposit requirement and competitive spreads make GMI an appealing choice for many traders.

Pros and Cons

Pros:

• Well-regulated by FCA (UK) and VFSC (Vanuatu)

• Variety of trading platforms and tools, including MT4 and proprietary solutions

• Competitive spreads and low minimum deposit requirements

• Advanced trading options like NDD, institutional-grade platforms, and diverse instruments

Cons:

• Limited to FX and CFDs in terms of instruments

• No dedicated educational resources

• Customer support not available 24/7

Is GMI Safe or a Scam?

GMI is a legitimate and reliable broker regulated by the FCA (UK) and VFSC (Vanuatu), ensuring compliance with stringent regulatory requirements. The broker’s safety measures include segregated client funds and investor protection schemes. While its additional offshore entity in Vanuatu may introduce some risks, GMI’s strong regulatory foundation provides a secure trading environment.

Trust Score: 7.8/10

Overall GMI Ranking

After careful evaluation, GMI is ranked 4.1 out of 5, based on its competitive offerings, solid regulatory framework, and advanced technological solutions. The broker stands out with its NDD execution model and reliable customer service, although its limited instrument range and lack of educational resources are notable drawbacks.

Awards

GMI has earned recognition for its technological innovation, including several industry awards for its platform features and competitive trading conditions.

Leverage

GMI offers flexible leverage options, with a maximum of 1:30 for retail traders under FCA regulation. However, international traders, particularly those under the VFSC regulation, may access leverage levels up to 1:200.

Leverage increases both potential profits and risks, so it is important for traders to use it wisely, especially when trading high-leverage instruments.

Account Types

GMI offers a range of account types, including:

• Standard Account: Basic account with competitive spreads.

• Pro Account: Suitable for active traders with lower spreads and commission-based pricing.

• Islamic Account: Swap-free account for Muslim traders.

How to Open an Account

Opening an account with GMI is straightforward. Simply:

1. Go to the “Create Account” page.

2. Fill in your personal details (name, email, phone number).

3. Verify your identity (upload proof of ID and address).

4. Complete the quiz to confirm your trading experience.

Once verified, deposit funds and start trading.

Instruments

GMI offers a broad range of instruments, including:

• Forex: Over 40 currency pairs

• Indices: Major global stock indices

• Commodities: Precious metals, oil, and more

• Cryptos: Bitcoin, Ethereum, Ripple, Litecoin, etc.

GMI’s Market Range Score: 8.2/10

Fees and Spreads

GMI offers competitive pricing:

• Forex spreads: From 1 pip (EUR/USD)

• Commissions: Commission charges for Pro accounts, based on trade volumes

• Overnight fees: Applicable for positions held overnight (swap fees)

GMI’s Fees Score: 4.0/5

Deposits and Withdrawals

GMI offers a variety of funding methods, including:

• Bank Transfers

• Credit/Debit Cards

• E-wallets: Skrill, Neteller, etc.

Withdrawals are processed within 1-2 business days with no fees for deposits or withdrawals, although certain payment methods may charge their own fees.

GMI’s Deposits and Withdrawals Score: 4.3/5

Trading Platforms

GMI offers the following platforms:

• MT4: Industry-standard platform with advanced charting and analysis tools.

• Alpine Trader: Proprietary platform designed for advanced trading strategies.

• ClearPro: ECN-based platform for institutional and professional traders.

• Currenex: Another institutional platform for high-frequency trading.

Platform Score: 4.0/5

Customer Support

GMI offers 24/5 customer support via:

• Live Chat

• Phone

• Email

GMI’s customer support has been rated highly for its fast response and knowledgeable staff.

Support Score: 4.2/5

Education

While GMI offers some market analysis and trading tools, it lacks in-depth educational resources like webinars or structured courses for beginners. Traders will need to look elsewhere for more comprehensive learning materials.

Education Score: 3.5/5

Conclusion

GMI is a well-regulated broker offering competitive trading conditions, low spreads, and a range of platforms catering to different trading styles. While it may be better suited to experienced traders due to its limited educational resources, it excels with advanced technological features, high leverage options, and strong regulatory oversight.

Recommended for:

• Professional and advanced traders

• Traders looking for flexible leverage options

• Those preferring ECN/STP execution

Not recommended for:

• Beginner traders seeking educational resources

• Traders looking for a broader range of instruments outside of FX and CFDs