GMOTrading Review

GMO TradingThe world of online trading is showing no signs of weakening, and new assets and new brokers are popping up all over the world, providing you as a trader with plenty of intriguing new opportunities. When it comes to the latter group, GMOTrading has managed to distinguish itself quite a bit from the pack, so we went ahead and took a look at why that is. Our readers know how we operate – we go in incognito, extract all the most important information and then present them to you in a detailed article. This GMOTrading review is no different, so give us a few minutes of your time so that we can introduce you to your potential new trading partner.

Making your GMOTrading deposit…

We’ll start things off with the financial side of trading here. Naturally, in order to trade you need to make a GMOTrading deposit first, but even if you don’t do that right away you can always check out the demo account. However, for some real trading you will need to deposit at least 215 euros to get started, although this may vary depending on the deposit method you choose. So, GMOTrading minimum deposit is somewhat lower than what you usually get in this business (about 250 EUR/USD is the norm), which is certainly good news.

Another piece of good news is the amount of deposit options you get here. Not only can you use major credit cards like Visa, MasterCard and Maestro (even V Pay is available), but online payment services are there to help you out, too. These include Trustly, Skrill, Neteller and others, so you really shouldn’t have any problems finding the one that suits you best. But what about getting your money back? Stay tuned to find out how that process works.

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… or your GMOTrading withdrawal

This wouldn’t be much of a GMO Trading review if we were to skip the withdrawal process. Fortunately, getting your funds back from this broker is nice and simple, although there are some things you should keep in mind. For example, the company tends to return the funds via the same method you used to deposit with them in the first place. That’s pretty standard in this business, but people often forget it. To initiate a withdrawal, you will first have to contact the support team with your basic info.

As far as we could see, there was no minimum GMOTrading withdrawal requirement, although withdrawals lower than 100 euros are subject to fees. The broker will notify you how big these fees are if you decide to withdraw this amount. Additionally, you can expect a 50 EUR fee if you decide to withdraw without having made a single trade or if you make only one investment. So don’t make a deposit thinking you’ll just see what it’s like and then get your money back – it will cost you.

GMO Trading Register site

 

GMOTrading Account Types

Now that we’re done with the finances, let’s see what GMOTrading account packages have to offer. As mentioned previously, you can use a demo account once you log in if you need some practice, and it provides a great simulation of the real trading environment. As for the live accounts, there are three tiers to them – Silver, Gold and Platinum.

Silver is the basic package that will get your GMOTrading leverage of up to 1:200 (this is for forex trading only, other types of assets have lower leverage) and fairly decent spreads across the board. Gold Account gets you a better deal on the spreads and raises the leverage up to 1:400. It also gives you a swap discount of 25%, your own account manager and access to the company’s webinars. Platinum Account keeps the maximum leverage for forex trades the same, although you will get a much higher leverage for things like commodities, indices and stocks. Swap discount goes up to 50% in this case.

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Keep in mind that GMOTrading leverage is only available to those trades who attain the status of a professional trader with the broker. It should also be mentioned that all GMOTrading accounts also come as Islamic accounts, which means that they can be adjusted to fit the requirements of that particular religion. But let’s get back to that issue of being a professional trader. What does that mean and how can you become one? Read on, the answer is just below.

GMO Trading demo account

How to become a GMOTrading Professional?

Do you want to take your trading here to a whole new level? Then you will want to apply for the GMOTrading professional status, and to get that status two of the following three conditions have to be met:

  • you are worth or have a portfolio of 500,000 EUR
  • you have been in the trading industry and have been dealing with CFDs for at least a year
  • you have invested in at least 10 trades every quarter during the last year and your trades amounted to at least 3,000 USD if you traded stocks and crypto or 12,500 USD if you traded forex and commodities

You will declare most of the information required here in your account creation process, so if you have what it takes to apply for the GMOTrading professional status and you will receive a form. After filling it out, return it to the broker and they will continue the process. Apart from the highest possible leverage, you will also get access to VIP education features and several other perks.

GMOTrading Platform

Time to take this GMOTrading review in a slightly different direction. Yes, the trading platform is up next, and there aren’t any big surprises here. The company has decided to play it safe and employ MetaTrader 4 as its trading platform. If you’re not a complete beginner in online trading, you know that this platform is by far the most popular and most reliable trading platform out there, so sticking to it seems like a reasonable choice. However, GMOTrading platforms also include Webtrader, meaning you can do all your investing in your internet browser.

In addition, you can also get yourself this broker’s app to help you monitor the situation on the market from your mobile devices. GMOTrading app is available both in Google Play and the App Store, so the most popular operating systems for mobile devices are covered.

As for your investment options, CFDs are the name of the game here, and there are plenty of assets to choose from. Forex, stocks, cryptocurrencies and commodities are all available, with gold and silver forming a separate category. The broker boasts access to more than 10,000 global markets, so you really shouldn’t have any trouble when it comes to choosing your targets.

Is there a chance for a GMOTrading Scam?

No serious GMO Trading review can skip checking the broker’s security. Simply, the possibility that this all just a fraud has to be removed if we are going to recommend this as a good trading website. First things first, we have to say that we never once saw any trace of a GMOTrading scam. Simply, our trades were executed as was expected and our deposits and withdrawals were smooth and reliable.

When you look at the fact that these guys are regulated by CySEC (license number 269/15), that’s not a big surprise, but when you see the technology they employ you will be able to rest easy. Not only is SSL encryption a vital part of their security system, but the company servers are also located in data centers that have the SAS 70 certificate. On top of that, every transaction is PCI-compliant (Level 1), so the chances for a GMOTrading scam are virtually non-existent. This is a serious and professional broker which has invested a lot into the safety of its clients.

What kind of support can you expect?

Being able to communicate with your broker is extremely important for good trading experience. If you need some sort of clarification or help, you need to know that there is always somebody you can talk to. Fortunately, the live chat service the broker offers is absolutely impeccable, plus you can get your dedicated account manager when you sign up (this may depend on the account package you opt for). These people are online every weekday, but you can also call the broker on their free number if that’s what you prefer or simply send them an e-mail or an inquiry form. The only thing we can object to here is the lack of an FAQ section, but that’s really not a big deal, all things considered.

Education is also big on this website, because even if you’re a complete beginner you can learn all you need to know about trading in no time. There are plenty of videos you can watch, articles and e-books you can read, courses you can take and many other very useful learning tools that will increase your trading skills in no time at all. But even after all that, there is one very special fact about this broker which will surmise what they’re all about perfectly.

Conclusion

And that’s pretty much everything we have to say in this article. Hopefully, you have a clear picture about what to expect by now and about all the advantages that trading here brings. In a nutshell, you will be trading with a reliable partner which has been recognized not just in the trading world but beyond it (see the previous paragraph). It offers plenty of options when it comes to finances and sticks to the best technological solutions that are currently available on the market (MetaTrader 4). It does everything it can to make you feel welcome and be with you every step of the way, which is why we are happy to end this GMOTrading review with a recommendation: sign up for an account with these guys today and get yourself an experienced and reliable trading partner!

Author's overall rating:
Author: Martin Simons
Updated:

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