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GMOTrading Broker Review

  1. GMOTrading (owned by Royal Forex Ltd) is a regulated forex, CFD and cryptocurrency broker with attractive trading conditions, a selection of interesting trading accounts and user-friendly platforms. GMOTrading is regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC) under the license number 269/15.

    Read our full review and honest verdict of GMOTrading below to find out whether this broker is really safe or not.

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    The 3 Account Types

    GMOTrading provides South African traders with three different accounts to choose from. Each account has its own trading conditions and level.

    The minimum deposit for each account is disclosed upon enquiry (check out our customer support section on how to contact GMOTrading).

    All three accounts are detailed below.

    Silver Account

    • Minimum deposit disclosed on enquiry
    • 10-hour customer support (10am – 8pm GMT)
    • Islamic account upon request
    • FX leverage up to 1:200
    • Leverage on stocks & equities up to 1:20
    • Leverage on metals, indices & commodities up to 1:50
    • Spread on EUR/USD from 2.2 pips
    • Withdrawal process up to 1 business day
    • Hedging allowed
    • Up to fifth decimal trading

    Gold Account

    • Minimum deposit disclosed on enquiry
    • 12-hour customer support (10am – 10pm GMT)
    • 25% discount on swaps
    • Free webinars & videos
    • Up to fifth decimal trading
    • FX leverage up to 1:400
    • Leverage on metals, indices & commodities up to 1:100
    • Dedicated account manager
    • Islamic account upon request
    • Withdrawals processed within 1 business day
    • Hedging allowed
    • Spread on EUR/USD from 1.3 pips

    Platinum Account

    • Minimum deposit disclosed on enquiry
    • Free VPS
    • Free webinars & videos
    • Withdrawal process within 1 business day
    • Up to fifth decimal trading
    • FX leverage: 1:500
    • Leverage on stocks & equities up to 1:50
    • Leverage on metals, indices & commodities up to 1:125
    • Dedicated account manager
    • News alert
    • Islamic account upon request
    • Hedging allowed
    • 50% swaps discount
    • Spread on EUR/USD from 0.7 pips

    Tip: Trade with IQ Option instead, the best regulated broker for South African traders with a minimum deposit of only $10!

    Trading Platform

    GMOTrading has three trading platforms available for South African investors to choose from, depending on personal preference. Whether you prefer trading on your PC, mobile or with no downloads whatsoever – GMOTrading has the right platform for you.

    The three platforms available are the GMOTrading web trader, the infamous MetaTrader 4 (MT4) platform and the mobile app.

    Check out details of each platform below.

    GMOTrading Webtrader

    If you prefer to not download anything onto your device, and just simply trade directly from your account, GMOTrading offers their own, user-friendly Webtrader that can be accessed directly through your GMOTrading account or from their website.

    No downloads or installations are needed to access this platform. The only thing you need is an internet connection and you’re good to go.

    MetaTrader 4 (MT4)

    If you want to trade on the most popular forex trading platform, then MT4 is for you. MT4 is famous for its easy-to-use interface, extensive tools and powerful features. To begin trading with the MT4 platform, you will need to download it onto your desktop because its very powerful and cannot simply run on a web browser.

    MT4 is usually associated with more experienced trading, but can always be used by a beginner as well.

    GMOTrading Mobile App

    If you don’t want to be limited to your PC or laptop, but prefer trading on-the-go wherever you may be, you can download the GMOTrading app. Available on both the App store and Google Play, the GMOTrading app is the preferred trading method for many South African investors.

    Customer Support

    A good customer support team is an essential advantage of any broker, because it shows how the company really treats its customers.

    The GMOTrading customer support team can be reached via email, phone or the contact form on their website. They also provide their physical address in Cyprus if South African users are in the area or want to reach out to them directly.

    Company Info & Payment Methods

    GMOTrading is owned and operated by the company Royal Forex Ltd (HE 336694) which is regulated and licensed by CySEC.

    GMOTrading accepts various payment methods, like credit card (Visa, Mastercard, Maestro), bank wire transfer and VPay.

    Verdict: Is GMOTrading a Safe Broker?

    After careful review of this broker, we can honestly say GMOTrading is a good broker which we would happily recommend to South African investors.

    They are fully regulated and legally compliant with CySEC and have several interesting features and trading conditions for South African traders.

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