GDMFX – review of forex and binary options broker

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GDMFX – broker review

✅ This Trading Platform is available in United States

Overview of modern, international brokers: GDMFX

An excellent web resource, well-written sections of the site, attractive terms of cooperation, a large number of positive reviews in the network, etc. All this pushes many traders to work with such a promising broker. But quite often, behind a beautiful “label,” there is a group of intruders whose main goal is to lure as much money as possible from their victims. And how in such a difficult situation to choose from a huge list of participants in the global financial market a decent company? To answer this question, we analyze the activity of the brokerage firm GDMFX, which is well-known in its circles. At the same time, our main task is to weed out all subjective comments or unproved facts that characterize the broker, both from the bad and from the good side. That is, the main components of our review will be – maximum objectivism, no anonymous comments and real achievements in the global financial market.

Why many traders recommend GDMFX

In 2020, when a large number of companies were already engaged in online trading, the brokerage firm GDMFX appeared on the financial market. Global Derivative Capital Markets NZ Limited (full company name) is registered in New Zealand, and Forex market and binary options trading have become its key business areas.

GDMFX Security

In any business, each participant always carefully calculates the possible risks and profits that he can earn in the industry. The safety of GDMFX traders is provided by:

● Accumulation of user funds on separate accounts and their protection from unauthorized access.

● A unique application created by GDMFX specialists in conjunction with the well-known MT4 platform ensures high speed of transaction execution and reliable protection against intruders. And it is carried out, both at stationary trade, and during the execution of tasks on mobile devices.

● In case of force major, the broker’s customers have the opportunity to seek help from support specialists who work around the clock, 5 days a week (except weekends).

● The company’s specialists work in different parts of the world, which not only contributes to the efficiency of solving the problems encountered, but also positively affects the image of the broker.

● Age of brokerage organization. The company is a member of the global financial market for about six years. This is not to say that this is a very long time, but fraudsters, even with the use of the most long-term schemes, never “work” for so long.

GDMFX Regulators

And another important argument in favor of the brokerage firm in question is that by registering a login with GDMFX, you will know that its activities are controlled by a special organization. This is the main New Zealand regulator – FSP. Of course, it is inferior in rating and mechanism of influence to well-known European institutions. But the fact of cooperation with the controlling organization, significantly increases the level of confidence in GDMFX even the most cautious traders from around the world.

Training at GDMFX broker

Considering the security issues at the web-broker, it was also necessary to pay attention to another important point. Fraudsters do not invest in the education of their “victims”. Moreover, the broker has paid a lot of attention to this issue. Even a novice with a zero level of education can learn about forex and binary options on this website with everything you need to make money on this web resource on your own.

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● Hermes Academy allows you to gain knowledge about the Forex market, as those who have never encountered this concept, and experienced traders.

● Forex dictionary (you should be ideally oriented in everything related to online trading, and for this you need to know the terminology).

● Individual free training.

● Webinars and video tutorials.

The site provides everything you need to get excellent training for a novice trader. You only need the desire and start-up capital to start trading. But in this regard, the administration of the resource has not forgotten about its customers. The demo account developed on GDMFX allows you to explore all the details of online trading without spending a penny of your money for this. You will conclude transactions, following the established rules of financial markets, using virtual currency for this purpose. As a result, it will help you develop your own strategies, find mistakes and choose those trading directions that will bring the maximum profit.

Main rules of GDMFX

Each website, especially if it is related to financial transactions, has its own rules, the implementation of which is mandatory for all. And GDMFX in this case is no exception.

GDMFX Trading Terms

● The minimum deposit for a trading account is $ 100.

● The minimum bet is $ 1.

● Maximum leverage is 1: 500.

● The main currencies of the account are the euro, the Australian and American dollars, the Japanese yen, the British pound.

● Estimated profit trader – up to 88%.

● Affiliate program – provided.

● Number of accounts – four (differing in the amount of the minimum deposit, commission and the number of currencies used).

If we examine the reviews compiled about GDMFX, we can conclude that for most traders this trading platform is quite acceptable in terms of key indicators.

GDMFX Deposit and withdrawal

Among the main methods of input / output of funds should be highlighted:

● Some types of cryptocurrency.

● Debit and credit cards.

Financial assets available at GDMFX

According to reviews compiled about GDMFX, it is not difficult to guess that the number of assets provided by the creators of the web resource and the mechanisms for their use are quite satisfactory for users. Chief among them are: currency pairs, precious metals, raw materials, stocks, stock indices and binary options.

GDMFX Review

Company info:
Name GDMFX
Website gdmfx.com
Foundation Year 2020
Regulation
Regulated by Financial Service Provider In New Zealand (FSP238465)
Trading conditions:
Min. Deposit 100 $
Leverage 50:1, 100:1, 500:1
Trade Lot 0.01, 0.1, 1
Digits after the dot 4, 5
Spread type Fixed, Variable
Trading instruments Forex, Metals, Indices, Commodities
Payment Methods:
Credit Card, Wire transfer, Check
Other Features:
Accept US traders
PAMM
MT5
Mobile Trading
Web-based trading
Affiliate program
VPS
ProfitF BONUS:

GDMFX Review (Detailed info):

GDMFX (Global Derivatives Capital Markets NZ Limited) forex broker is located at Level 3, 187 Queen Street, Auckland CBD 1010 NZ with the company registration number 3945518. Though GDMFX is not regulated by any Financial Services Provider regulators, client disputes are handles by the FDR (Financial Dispute Resolution scheme) where it is a registered member.

GDMFX is one of the few brokers that offer both spot Forex trading and Binary Options trading via the Metatrader 4 platform. Let us look at the trading conditions at GDMFX;

Trading Conditions

GDMFX offer five account types with different trading conditions as shown below;

Figure; GDMFX Account Types

More Account Features

Classic Account; This account has fixed spreads and trading on the platform is done with only 4 numbers after the decimal place as opposed to 5.

Blade Account;

  • Swap free
  • 5 numbers after the decimal on the trading platform
  • Variable/floating spreads
  • Tight spreads starting from 0.1pip

Blade Pro & Prime Accounts;

  • Invitation only account
  • Swap free
  • Free live training
  • Free withdrawal once a week
  • Personal account manager
  • STP (Interbank spreads) plus low commission. The Prime account has a customizable commission structure.

Spreads and swaps

Spreads and swaps on the different trading accounts and traded instruments also vary as shown below;

Figure; GDMFX Spreads and Swaps

Trading Platforms

Trading on GDMFX can be done on the following platforms; Metatrader 4 Desktop, Metatrader 4 Mobile, Metatrader 4 Web and the Metatrader 4 Binary Options Plugin. Below are some of the features of the Metatrader 4 platforms by GDMFX;

  • Desktop trading available for both Mac OS and Windows OS
  • Trade directly from the browser using the MT4 web trader
  • Mobile trading via the MT4 IOS and Android applications
  • Secure platforms
  • Micro-lot trading (0.01)
  • Hedging and scalping allowed
  • Real-time charts
  • EAs allowed
  • Multiple indicators and technical analysis tools
  • Bar, line and candlestick charts available
  • Metaeditor on the desktop version to create custom indicators, scripts and EAs using the MQL4 language
  • Multiple timeframes are available

Social Trading

GDMFX Social Trading

Some traders are more profitable than others hence social trading allows less profitable or unprofitable traders copy the trades of the professional traders easily. GDMFX offers three platforms to enable social trading; Zulutrade, Autotrade and MQL5.

ZuluTrade;

GDMFX offers ZuluTrade Copy Trading Service

ZuluTrade allows traders to copy the trades of successful traders directly into their own accounts. ZuluTrade has a ranking algorithm known as ZuluRank than enables one to choose successful traders to copy based on different criterion. ZuluTrade is used by thousands of traders worldwide and allows trade copying via their website as well as via their mobile applications. Below are some advantages of Zulutrade;

  • Thousands of registered traders to follow
  • Automated copying
  • Diverse trading systems as ZuluTrade has traders from all over the globe
  • ZuluTrade mobile apps are available

AutoTrade;

GDMFX offers AutoTrade Copy Trading Service

This is another online copy trading service powered by myfxbook. AutoTrade has numerous trading systems to choose from. One advantage of using AutoTrade by Myfxbook is that there is in depth analysis for each trading system available enabling one to make more informed decisions when choosing the strategies to copy. Below are some advantages of AutoTrade;

  • Live provider accounts only are listed
  • Unlimited Demo
  • In-depth analysis
  • Completely automated

MQL5 Social Trading;

GDMFX offers MQL5 Signal Service

The MQL5 trading community is among the social trading platforms with the most signal providers available. All signal providers have to have their performance record verified for at least one month. It showcases both free and paid signal services. Below are some of the advantages of MQL5 signal service;

  • It is built-in on the Metatrader 4 platform
  • Copying is done automatically
  • A large selection of signal providers is available; both free and paid
  • Easy to setup and use

Bonuses and Promotions

100% Bonus;

Figure; GDMFX 100% Bonus

Both new and existing clients of GDMFX can access 100% bonus of the value of the deposit under the following conditions;

  • $2000 minimum deposit
  • No open trade positions
  • Bonus can only be given once per customer

4X Replay Bonus;

Figure; GDMFX 4X Replay Bonus

This bonus is available for all GDMFX clients who deposit $1000 into their account and enables them to get a bonus for every deposit up to 4 deposits. The below table shows the bonus percentage for each deposit;

Figure; GDMFX 4X Replay Bonus Percentage Table
Welcome Bonus;

Figure; GDMFX Welcome Bonus

GDMFX offers a welcome bonus to all its first time clients up to $30,000. The requirement for the welcome bonus is a minimum deposit of $500. Below shows the bonus percentage for each amount of deposit;

Figure; GDMFX Welcome Bonus Percentage Table

Fixed Income Program;

Figure; GDMFX Fixed Income Program

Both Forex and Binary Options traders at GDMFX can access an 8% annual fixed income on their free deposits on top of their trading profits. The traders have to fulfill a minimum trading volume not tied to any deadline or a minimum participation period requiring any minimum trading volume in order to get the fixed income.

Education

GDMFX offer trading webinars, video tutorials, a forex dictionary as well as one to one training. They also have Hermes Academy that trains in Forex trading in the following levels; Basics (new to Forex), Beginner, Intermediate and Advanced.

Awards

GDMFX has received several awards as shown below;

Figures; GDMFX Awards

Deposits & Withdrawals

GDMX broker accepts: Bank Transfer, Neteller, Skrill, Credit cards, Perfect Money, iAccount

Pros and Cons

Pros

  • Awards winning broker
  • Metatrader 4 platform is available
  • Social trading is available
  • Both Forex and Binary Options are offered
  • Mobile trading is available
  • Different account types
  • Different bonuses
  • Multilingual support
  • Demo account for both spot Forex and binary options is available
  • High leverage of 500:1

Cons

  • Unregulated broker
  • Does not accept US clients

Customer Support

Support available via:

  • Live Chat
  • “Contact us” web form
  • Email: [email protected]
  • Phone: (+64) 9951 8201
  • Fax: (+64) 9973 4253

Social Networks

GDMFX Twitter account: https://twitter.com/ GdmFX
GDMFX Facebook account: https://www.facebook.com/ GDMFXcom
GDMFX Google+ account: https://plus.google.com/+ Gdmfxcom
GDMFX YouTube account: https://www.youtube.com/ channel/UC2smFs- Jv3qhj0h699CWHbQ
GDMFX Linkedin account: https://www.linkedin.com/ company/ gdmfx

Address: Level 3, 187 Queen Street, Auckland CBD 1010 NZ ; Company Registration Number : 3945518

Conclusion

GDMFX offers both spot Forex and Binary Options trading on the Metatrader 4 platform. Demo trading is also available for both which makes it convenient for traders wanting to try out their services before embarking on real money trading.

Now, everything seems OK with GDMFX broker. “ProfitF team” will keep monitoring this broker and update this review if any changes take place.

GDMFX GDMFX Review

Trading Accounts

Account Type Minimum Deposit Minimum trade size Maximum leverage Spreads (& Commission)
Classic $100 0.01 1:500 2 pips fixed
Blade $200 0.01 1:200 0.4 pips + $7 /lot
Blade Pro $5 000 0.01 customizable From 0.1 pips + $7 /lot

There are 3 basic account types with GDMFX – a Classic one with fixed spreads and no commission fees and two Blade (STP) ones with tight floating spreads where commissions apply. All account types offer micro tradeable lots for those traders who prefer not to put much at stake.

Besides, GDMFX offers its Muslim clients Islamic swap-free accounts that are Sharia-compliant. Also, there is a Prime account with minimum initial deposit of $200 000 available to institutional traders, as well as a binary options trading account.

The Company. Security of Funds

Global Derivative Capital Markets NZ Limited

Deregistered from FSRP NZ, but still a member of the DRS

With GDMFX you can trade in forex and various CFDs on the MetaTrader 4 platform with reasonable trading conditions. Based in Auckland New Zealand, this brokerage offers STP execution and advanced social trading options.

The brand is operated by Global Derivative Capital Markets NZ Limited, a company which is no longer a Registered Financial Services Provider under the New Zealand’s Financial Markets Conduct Act. Although the broker claims to be licensed on its website, our check revealed that the firm has been deregistered in July, 2020. Nonetheless, GDMFX is still a member of the Financial Dispute Resolution Scheme – an independent dispute resolution service in New Zealand that helps both financial institutions and their clients resolve disputes. In case of a valid complaint the FDR can award clients with a compensation of up to NZD 200,000.

Despite its current unregulated status, GDMFX has earned fairly good reputation, as most user reviews we came across are positive.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit required by GDMFX is $100, which is average.

GDMFX’s fixed spreads are average for the market, amounting to 2 pips for EUR/USD pair. Its variable spreads, on the other hand, are really good – averaged 0.5 pips on EUR/USD on the Blade account type and involving a commission of $7 per standard lot round trip. This basically means that the trading costs for this pair would be around 1.1 pips on average.

In comparison, another NZ-based brokerage, Circle Markets (which, however is duly licensed) offers spreads from 0.2 pips and a commission of $4 per standard lot applies. For further information, you may check out and compare real-time spreads of 15 leading brokers here.

The maximum leverage level offered by GDMFX is 1:500, which is considered high. Nonetheless, many brokers provide similar or higher leverage levels, as they allow traders to operate with large amounts of money on a relatively small deposit. Keep in mind, however, that high leverage levels involve greater risk.

Circle Markets, for instance, provides leverage up to 1:200.

Trading Platform

GDMFX offers its clients the most widely used trading platform, MetaTrader 4 (MT4), available as desktop, web and mobile versions.

Developed by Russian software company MetaQuotes, the MT4 platform, is still the preferred choice by most experienced traders, although its successor, the MT5, is gaining popularity lately. MT4 is equipped with an advanced charting tools, a number of built-in technical indicators, a wide range of Expert Advisors (EAs) and extensive back-testing environment for them. Almost any trading strategy can be formalized and implemented as an Expert Advisor, so that it automatically does all the work for you.

Besides, MT4 users can get free access to MQL5 Signals. MQL5 is fully integrated with the platform so traders can subscribe to signals from thousands of providers directly from the MT4.

Apart from that, GDMFX offers its clients advanced copy trading options via Zulutrade and AutoTrade.

What we find odd about this broker is that it does not offer VPS hosting. Even worse, GDMFX does not allow scalping.

GDMFX offers 100% on deposit bonus (to a maximum of $5000) to clients who fund their accounts with at least $1000.

The bonus becomes withdrawable once its trading requirement has been met:

bonus amount / 4 = standard lots traded (Leverage is set to 1:100)

The bonus expires in 12 months, but clients of GDMFX can get 50% bonus on second deposit 30% bonus on third and 20% bonus on fourth.

Methods of Payment

Currently GDMFX’ clients are able to make payments via bank wire, Algo Charge, Skrill, Neteller and Perfect Money (available India, Pakistan and Bangladesh).

Conclusion

GDMFX provides trading in forex, various CFDs and binary options and its offerings are rather attractive. The broker has 5 years of experience, but unfortunately is no longer licensed in New Zealand, where it is headquartered. To some things up, here are the advantages and drawbacks in relation to this broker:

Pros Cons
Competitive spreads No longer regulated in NZ
Member of the NZ DRS Scalping not allowed
STP environment offered No VPS
MT4 available No choice of trading platforms
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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