When it comes to Forex trading, many question the legitimacy of online platforms, and rightfully so. Many traders have gone through a scam when trying to find a reliable trading platform. To some, the world of forex trading is a scam itself, let alone the trading platforms available on the internet. As the company FXGM ZA has shown, that isn’t always the case.
To start, Forex trading is a legitimate way to trade in the market. The grey area comes down to the type of trading company you go with. Forex trading isn’t as regulated as other methods, leading to many brokers taking advantage of the situation, and of new traders. That is why it’s so important to do your research before you choose a broker or a trading platform.
We’re going to take a look at a new trading platform called FXGM ZA. If you haven’t heard of it before, that’s okay. That is what this FXGM ZA review is for.
What is FXGM ZA?
As you get started with forex trading, you’ll soon realize that you need a broker to do your business. However, a broker doesn’t have to be a physical person you go and see. Your broker could be an online platform, like this one.
FXGM ZA is your broker for all of your Forex trading. It also allows you to trade with commodities, stocks, options, and cryptocurrencies, making this platform quite versatile. The trading platform is through operated by Unum Capital (Pty) Ltd, with its headquarters located in Pretoria, South Africa.
When it comes to a Forex trading platform, it comes down to the regulations behind it, and the different functions it provides. FXGM ZA offers essential services that is ideal for any level of a Forex trading, but even more so with beginner traders.
Take a look at the different services you gain access to if you use this trading platform.
Personal Account Manager
If you open up an account with this trading platform, you’ll have an account manager assigned to you. This becomes an essential perk for new traders who are still learning the ropes of forex trading. Your account manager will be able to assist you with any questions you may have, and to fix any issues that could arise.
Security and Regulations
One of the top points to look for with a forex trading platform is the legitimacy behind the company, any regulations it follows, and how secure it is. FXGM ZA can check off all of those points.
To start, the company Unum Capital (Pty) Ltd falls under the regulations put in place by Financial Sector Conduct Authority (FSCA) in South Africa, oversees everything about this platform and boosting its credibility.
A point about the security of this platform worth mentioning is that FSCA insists that all accounts be segregated. That means, your account is only for you. The broker cannot access your account, making it that much safer. If something happened and the broker refused to pay you, the FSCA would cover up to a certain amount per account.
140+ Trading Instruments
There is so much you can do with this trading platform. You have many currency options that you can access for trading. On top of that, there is an extensive list of shares, indices, commodities, options, and a decent number of cryptocurrencies.
FXGM ZA offers the following account options to go with:
- Junior Account: requires a minimum opening balance of $200 to $9,999.
- Premium Account: requires an opening balance between $10,000 and $29,999.
- VIP Account: requires an opening balance between $30,000 and $49,999.
- Executive Account: requires an opening balance between $50,000 and $49,999.
- Royal Account: requires an opening balance between $100,000 +.
Trading Central Signals
Gain access to their Trading Central Signals (with all accounts). The Trading Central is independent of the company. It is a research service provider for investment and finances. You’ll get more information on technical analysis, education on forex, futures, and other financial markets, along with news within the forex trading world. This is a valuable resource to have.
So, Is It Legitimate?
The question remains – is this trading platform a legitimate option for forex trading, or is it a scam? Our FXGM ZA opinion is that it is a legitimate platform that can help you succeed in forex trading. It’s excellent for both beginner and expert traders. It’s easy to sign up, and the Demo Account allows you to fiddle with the platform before making the financial commitment.