GMI Edge Review 2020

GMI Edge provides online Forex and CFD trading with competitive trading conditions through the MetaTrader 4 platforms. They have a range of account funding options but lack in educational materials and additional trading tools. They do not offer any individual stocks or cryptocurrency trading whilst spreads can incur a mark-up on the commission free accounts. They are also regulated offshore and do not accept clients from certain countries including the UK and USA.

GMI Edge Review 2020, Pros & Cons
  • User-friendly MetaTrader 4 platform for multiple devices
  • Variety of account funding options
  • Flexible leverage
  • Competitive trading conditions
  • Minimum $25 deposit
  • Swap free accounts
  • Offshore broker
  • No educational materials
  • Limited additional trading tools
  • No stocks or cryptocurrency trading
  • Does not accept clients from the UK or USA
  • Spread mark-ups
  • No social trading platform integration
  • USD currency accounts only

In this detailed GMI Edge review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

GMI Edge is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including GMI Edge.

GMI Edge Review: Summary

GMI Edge is an offshore trading broker that provides online trading via MetaTrader 4 (MT4) on a variety of different asset classes including forex, indices, precious metals, energies and CFDs. Whilst the broker offers leverage of up to 1:2000 depending on your account balance and type, it is imperative users are aware of the significant risks involved when using such high leverage.

GMI Edge Review: Broker Features

GMI Edge Review: Broker Features

Founded in 2018, GMI Edge have trade execution speeds from 0.005 seconds whilst forex spreads start from around 0.1 pips. The broker has low minimum deposit requirements from $25 along with a choice of fast and secure account funding options. However, they could improve on their regulation.

GMI Edge Review: Regulation

GMI Edge is the trading name of Global Prime Limited, a regulated and licensed dealer in securities by the Vanuatu Financial Services Commission (VFSC). GMI Edge is part of the GMI Group of companies. The GMI brand was established in 2009.

Whilst regulation can give traders the peace of mind they are using a broker which must abide by strict rules and regulations that are put into place in order to protect investors, the trading brokers review team would prefer a broker to use a top tier regulator such as the FCA, CySEC and ASIC.

GMI Edge Review: Countries

Whilst GMI Edge can provide brokerage services to many countries, there are some restrictions. They do not accept clients from the United Kingdom and United States amongst other countries.

Some GMI Edge broker features and products mentioned within this GMI Edge review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.

GMI Edge Review: Trading Platforms

MetaTrader 4

Like the majority of online brokers, GMI Edge provide traders with the user friendly yet powerful MetaTrader 4 (MT4) trading platform. MT4 is one of the most popular trading platforms and is used by millions of traders all over the world. It is well known for being fully customisable with an intuitive user interface and vast array of built-in trading tools enabling traders to deeply analyse the financial markets. The platform can support both beginner and experience traders with their day to day trading activities.

GMI Edge Review: MetaTrader 4 Platform

GMI Edge Review: MetaTrader 4 Platform

You can download the MT4 platform for free on desktop and mobile devices running on iOS and Android. The MT4 mobile app is useful for those who would like to trade and manage their account whilst in the go from anywhere in the world provided there is an internet connection. MT4 is also available as a web trading platform that runs directly in your web browser without the need to download and install any additional software.

Some of the key MetaTrader 4 platform features include:

  • Fully customisable and user-friendly interface
  • Multiple chart types and time frames
  • Variety of order types supported including one-click trading directly on charts
  • Create, save and load trading strategy templates
  • Real time bid/ask price quotes of trading instruments displayed in the market watch window
  • Generous selection of technical indicators and graphical objects for chart analysis
  • Automated trading supported through expert advisors (EAs)
  • Strategy tester to back test EAs over historical data
  • MQL programming interface to create customised indicators, EAs and scripts
  • MQL market place to download customised tools and get trading signals
  • Large online community to share ideas and tools with other traders
  • Set price and indicator alert notifications to be sent via SMS, email and pop-ups
  • Virtual private server (VPS) support for remote hosting of platform
  • Available for desktop, web and mobile devices

GMI Edge Review: Trading Tools

Whilst the broker states that GMI Edge account holders get free access to Trading Central and market analysis, we were unable to find any evidence of this on the brokers website. That being said, the MetaTrader 4 platform is likely to have more than enough tools and functionality to satisfy the online trading needs of the average retail trader.

GMI Edge Review: Education

Unfortunately, there are currently no educational materials available on the GMI Edge website. We would like to have seen some trading guides, tutorial videos, webinars and seminars. These can all be useful to help traders improve their trading skills and knowledge whilst emphasising the brokers support for informed online trading.

GMI Edge Review: Trading Instruments

GMI Edge offers over 50 FX currency pairs including major, minor and exotic crosses. The broker also has a modest selection of CFDs on precious metals and energies. The trading brokers team found the asset range lacking when compared with some of the best trading brokers. There are currently no stocks or cryptocurrencies for trading online.

Forex Trading

The broker has around 50 forex currency pairs with competitive spreads, minimal requotes and leverage up to 1:2000.

Metals Trading

They offer precious metals through silver and gold trading.

Indices Trading

GMI Edge offers 8 global stock indices with 1:50 leverage and zero commission on the standard account: US30, SP500, US100, UK100, GE30, FR40, HSIHDK and CHN50U.

Energies Trading

Trade long or short on oil and gas with leverage of up to 1:100.

GMI Edge Review: Trading Accounts & Fees

GMI Edge have a choice of 3 main account types which vary on a number of factors such as the minimum deposit requirement, commission, leverage and lot sizes. There is also an additional “bonus” account. You can choose an account that is best suited towards your individual trading style and goals. The broker states that they accept all types of trading strategies including hedging, scalping and automated trading.

Standard Account

  • Minimum deposit $25
  • Leverage up to 1:2000
  • No commissions
  • 100,000 contract size
  • 0.01 minimum lots
  • 50 maximum lots
  • Variable spreads

Cent Account

  • Minimum deposit $2.50
  • Leverage up to 1:1000
  • No commissions
  • 1,000 contract size
  • 0.01 minimum lots
  • 150 maximum lots
  • Variable spreads

ECN Account

  • Minimum deposit $100
  • Leverage up to 1:500
  • $4 commission per lot
  • 100,000 contract size
  • 0.01 minimum lots
  • 50 maximum lots
  • Variable spreads
GMI Edge Review: Broker Account Types

GMI Edge Review: Broker Account Types

GMI Edge MAM Account

GMI Edge have a managed account option for money managers. You can complete orders for all accounts in a timely and synchronized manner. All orders are executed at the same time/same price, and all accounts have the same ROI. Each MAM account can support up to 100 sub accounts. The MAM account can integrate with the MT4 platform on multiple devices.

Islamic Account

The broker has a swap free option with no charges for holding a position overnight. They are a Muslim friendly broker which can provide trading accounts that comply with Sharia law.

Demo Account

Demo trading accounts are available upon request if you wish to practice your trading strategies using virtual funds and to familiarise yourself with the trading platforms.

GMI Edge Review: Customer Service

GMI Edge customer support is available via email, telephone and live chat. There is an online contact form if you wish to send them a message directly.

GMI Edge Review: Deposit & Withdrawal

GMI Edge have a choice of convenient methods for depositing and withdrawing funds from your trading account. This includes bank transfer and online payment systems such as Neteller, Skrill and Perfect Money. The broker can also accept cryptocurrency payments through Bitcoin. Please be aware that some methods may only be available to specific countries and not all are available for both deposit and withdrawal.

GMI Edge Review: Account Funding Options

GMI Edge Review: Account Funding Options

To deposit into your trading account, first you need to login to the members area, click deposits from the menu, and select your preferred payment option. You can then proceed with the necessary steps and details based on the instructions given. The same process applies if making withdrawals, just choose the withdrawal option instead.

Withdrawals under $1,000 will be processed instantly and sent to payment providers for verification. Withdrawals from $1,000 up to $19,999 will require manual approval and be sent to payment providers for verification within 24 hours depending on the method chosen by the client, and providing requests meet all appropriate risk / AML requirements. Withdrawals over $20,000 may take up to 4 business days.

Some fees may be charged when using certain payment methods. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. GMI Edge strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your GMI Edge trading account.

You can only transfer funds to and from your account once the appropriate documentation has been submitted and verified in accordance with the brokers standard account opening procedures/KYC. Please note that all deposit/withdrawal transactions are also subject to internal Anti-Money Laundering (AML) controls.

Accounts can only be opened USD. If the broker had different currency options, this would have been beneficial as currency conversion fees do not apply when using an account in your own currency.

As broker fees can vary and change, there may be additional fees that are not listed in this GMI Edge review. It is imperative to ensure that you check and understand all of the latest information before you open a GMI Edge broker account for online trading.

GMI Edge Review: Account Opening

In order to open a trading broker account with GMI Edge, you will need to complete a short online application form. During your application, you will be requested to submit personal information and documents to verify your account. This is a normal part of a brokers KYC and AML procedures. Once your details have been verified by a member of the accounts team, you will be able to fund your account and commence trading online with GMI Edge.

GMI Edge Review: Account Registration

GMI Edge Review: Account Registration

It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.

GMI Edge Review: Conclusion

Overall, GMI Edge has a reasonable online brokerage offering with competitive trading conditions and backing of the GMI Group of companies. The trade execution speeds are swift and the spreads decent. The MT4 platform is easy to use and available on multiple devices. The broker also has a variety of account types and convenient payment options.

Despite the positives, we would like to see GMI Edge provide some educational materials and additional trading tools. Furthermore, leverage is capped when your account reaches a certain amount and they do not have any social trading platform integration. There are no individual stock or cryptocurrency trading instruments. We would also like to see the broker implement regulation from other well-known regulators.

Trading forex, CFDs, and any financial derivative instruments on margin carries a high level of risk and may not be suitable for all investors, as you could sustain losses in excess of your deposits.

Min $25 Deposit

GMI Edge is a trading broker that provides Forex & CFD trading on the MetaTrader 4 (MT4) platforms for desktop, web & mobile devices. The broker has competitive trading conditions but lacks in educational materials & additional trading tools.