What Is and How DoesFXGM ZA Work?
Online trading has become more popular in recent years as there is a huge number of new trading sites, as well as investors that are looking to get into trading. Plus, you can find almost every asset that you want to add to your portfolio online, including stocks, cryptocurrencies, hard and soft commodities, NFTs, and much more.
Although there are platforms that are more suited for experienced investors with complicated features or programs, there is equally a great number of trading sites customized for beginners and accessible on both mobile and desktop devices.
Here, we will cover in-depth FXGM ZA, which is a reputable and licensed trading platform that is not only suitable for beginners but also has excellent benefits for more experienced investors.
The only thing you need to know before you dive into the FXGM ZA review is that FXGM ZA is not the same trading site as the FXGM. FXGM ZA operates in South Africa. It is licensed by the South African Financial Sector Conduct Authority. In comparison, the FXGM is headquartered in Cyprus. So, in other words, you are looking at two separate companies, and here we’ll delve into FXGM ZA.
Regulations of FXGM ZAÂ
The entire online trading market consists of hundreds of different trading sites; many specialize in a specific niche, while others offer a wide range of trading instruments. But what all have in common is that they allow online members to start trading from their smartphones and computers. Also, as this is mainly a decentralized market, each government has its own authoritative bodies in charge of online trading.
More specifically, the African Financial Sector Conduct Authority licensed FXGM ZA which is proof that this is a regulated and reliable online trading platform that adheres to the latest laws and regulations from the African Financial Sector Conduct Authority. So, if you’re looking to trade on any trading platform, first make sure to research the trading sites and find more information about their license.
FXGM ZA CommissionsÂ
FXGM ZA provides transparent information regarding their commission-frees. What you have to have in mind is that fees vary based on the financial CFD instruments and other types of assets that you want to add, like commodities, cryptocurrencies.
They also charge an overnight exposure fee of 0.015%. On top of that, they charge currency conversion fees and also have the right to charge the client a fee of $500, on a quarterly basis, when the account remains inactive for at least three months.
FXGM ZA Assets
FXGM ZA broker provides a wide range of assets for its clients, including CFD trading, cryptocurrencies, forex, commodities, stocks, futures, and more. Each category has comprehensive options. For example, in case you want to get into forex, there are more than 40 currency pairs – ZAR, AUD, EUR, USD, GBP, and many others.
In terms of stocks, there is a great choice from big brands like Tesla, Amazon, Facebook, and many more. So, it’s safe to say, that whatever your preferences might be, this is the site that offers that and more.
Account Types on FXGM ZAÂ
The account type is important for the overall experience on the platform because each has its own set of benefits. But before we look into the account types, keep in mind that every member has access to every trading instrument on the platform regardless of their account, as well as a free training and detailed eBook to help them get started on the site and trade online.
First, there is the Junior account accessible to members that deposit at least $200. It encompasses the following perks – one-click trading, autochartist, trading insider, pop-up alerts, and access to dedicated customer support. Each subsequent account has the same benefits as the Junior account type in addition to their special perks. This leads us to the Premium account type that, similarly to the Junior account, has the same perks along with a personal customer service agent. The minimum deposit for this account type is at least $10,000.
The VIP account represents one of the three more exclusive accounts with enhanced perks. The main perks are spread discounts on indices, commodities, and FX Majors, and indices in addition to the previous above-mentioned perks. In order to access benefits, you will need a deposit of at least $30,000. The last two are on the pricier side, starting from $50,000- $99,999 for the Executive account and more than $100,000 for the Royal account. The main perks are the same as for the VIP account.
FXGM ZA Trading Platform
The trading platform is optimized for mobile trading and therefore compatible with both Android and Apple devices, and actually, there is a separate mobile application for this reason. There is also a great desktop version of the website.
FXGM ZA Web PROfit  Â
This is the web version of the website, which is equally optimized for desktop devices as well as your smartphone and tablet. It offers the following options – direct platform support, 140 tradable assets, latest news, instant trade execution, and more.
FXGM ZA Mobile PROfitÂ
This is a mobile application that you can download on Android smartphones as well as iPhones and Apple devices. It is user-friendly and provides you with an opportunity to instantly place orders, track your investments, and also to access the economic calendar, read financial news, and much more.
FXGM ZA Total Investment Insurance
The platform provides negative balance protection to its clients. It doesn’t matter whether you have a Junior or VIP account; everyone accesses the negative balance protection. That said, keep in mind that online trading is volatile, and there are no guarantees, so make sure to create orders based on your financial budget and current market news.
Opinions and Reviews of FXGM ZAÂ
As one can expect, there are rarely any FXGM ZA complaints as this is a licensed and high-quality trading site, and in general, the reviews as well as opinions, by past or current investors are positive.
Conclusions  Â
All in all, this is a reliable trading site that takes care of its clients and provides top-notch customer support along with a user-friendly mobile application. So, all you need to do is create an up-to-date financial plan that reflects your current goals and keep up with the latest news in the industry as you trade from your smartphone or computer.