Commissions & Spreads
“GMO Trading offer over 300 trading instruments. The spreads are generally low on the high end account types but are high on the basic account types.”
The table below shows the full list of the tradable assets and the spread as offered by GMO Trading and is based on the Platinum account, which has the lowest spreads.
*This list was taken from the GMO website and was correct at time of writing this review. The figures are subject to change at any time.
Bonus & Promotions
“There are no promotions, bonuses or trading contests on GMO Trading, which is in compliance with a CySEC ban on what it terms “incentivized trading bonuses.”
GMO Trading has no bonuses, promotions or contests to challenge and encourage traders. This may be due to CySEC’s ban on such bonuses.
“The customer care unit operates on a 24/5 time schedule. They can be reached via email, phone, web chat and web form.”
The client support desk works from 6am on Monday to 7pm on Friday. They can be reached via the following channels:
• Chat: This is available from every page on the website.
It took about 30 seconds for a support attendant to join a chat session that we initiated. The support staff are friendly and professional. Emails are replied within a day.
• ‘Get in touch’ form: This form is located on the ‘contact us’ page of the website. The website visitors are encouraged to fill this form to reach the support desk with their questions. A support representative will respond by email.
• Email: email@example.com or Docs@gmotrading.com
• Phone Numbers: Toll free number is +80050026003
“The daily reviews come up every week day on the website. The VPS is provided for Platinum account holders.”
Trading research is very sparse on GMO Trading, and only one facility for research is provided.
This is a short video broadcasting the financial news headlines. It comes up daily on the website. The videos are usually less than two minutes. It is broadcasted by GMO Trading from a professional news studio.
“The education centre comprises of webinars, VOD, eBooks, articles, courses and tutorials.”
Where GMO Trading has seen shortcomings on the research aspect of its business, it has been able to make up for with its ‘Education Centre’. This is the trader education suite that comprises training videos, courses and tutorials.
These are periodically scheduled on the website to train and update traders on strategies, opportunities and insights on the forex/CFD market.
Video on demand (VOD)
These are a series of 22 training videos grouped as follows:
- Beginners: This comprises of 6 videos teaching the art of trading, chance and risk, emotions in trading, currency pairs and general trading.
- Advanced: This section has 9 video lessons on pips, market analysis, trend, support and resistance, engulfing pattern, breakaway, etc.
- Terms: Short and long, pips and take profit order is discussed in the 3 videos in this section.
- MetaTrader: 4 videos teaching how to trade on the MT4 platform make up this section.
This is a 50-page book introducing forex trading to beginners. It also teaches trading psychology and tips for successful trading.
This is a 94-page online interactive book teaching forex principle and advanced techniques.
There are over 60 articles discussing different assets, terminologies, markets, strategies and investment ideas. These are educative and beneficial to all traders and prospective clients.
This section comprises of four group of video lessons classified as follows:
- Beginners’ course: Four videos are featured in this section. The videos introduce the forex market, basic terms used, types of orders, etc.
- Trading strategies: This is made up of 10 videos teaching different strategies employed in forex/CFD trading. Most of the strategies are based on technical analysis.
- CFDs and Stocks: This is a video explaining what CFDs, stocks and indices are. It also highlights the advantages and disadvantages of trading the markets.
- Trading tools: This section has 6 videos on analysis, capital management and trading psychology.
These are MT4 platform tutorials. There are 5 videos on the MT4 desktop application and 6 videos teaching how to use the MT4 mobile app.
“GMO Trading brokerage is suitable for beginner traders and maybe a handful of intermediate-level traders. The MT4 trading platform is the perfect platform for these categories of traders.”
The GMO Trading brokerage is suitable for every kind of trader. With multiple asset listing and the sophisticated MT4 platform, both new and professional traders can enjoy the services of this broker. For beginners, the demo account, training videos, eBooks, courses and webinars can assist them in learning about the market, trading strategies and how to trade successfully. Intermediate level traders can also benefit from the training and demo account.
For the intermediate level traders, the MT4 platform allows the use of EAs, VPS, plugins, custom indicators, signals, extensions, etc. The demo account can help in strategy testing and perfection.
Here are some of the “Frequently Asked Questions” about GMO Trading:
Where is GMO Trading based?
GMO Trading is based in Cyprus.
How does GMO Trading make money?
GMO Trading makes money by charging from the spread.
How do I deposit in GMO Markets account?
The payment options accepted are: Mastercard, Visa card, Carta Si, Dankort, Skrill, iDeal, Klarna, Nordea Solo, Giropay, Przelewy 24, Rapid Transfer, SEPA, Neteller, Postepay, EPS, MuchBetter and Trustly.
What is the min. deposit for GMO Trading?
The minimum deposit is $250.
What is the maximum leverage in GMO Trading?
The maximum leverage is 1:500 for professional traders.
How do I open an account with GMO Trading?
Click on the ‘Open account’ button found on the website and fill the forms.
Does GMO Trading use MetaTrader?
Yes, the MT4 is available.
The GMO Trading brokerage is still a new player in the industry, but the broker has positioned itself on a promising path. With CySEC regulation and a digitally secure trading environment, traders are assured of a great degree of safety. The asset listing is standard with more than 300 trading instruments. The MT4 platform is a great choice because of its versatility and popularity, but will support beginners and intermediate-level traders.
However, there are no comprehensive technical analyses tools and market research is deficient. In summary, GMO Trading is an upcoming broker which is still on the path to breaking into the market and has to effect some improvements to be able to compete with other established CySEC-regulated brands.
Below are some of the advantages of trading with GMO Trading:
- The broker is regulated by CySEC.
- Access to trade over 300 trading instruments on the popular MT4 platform.
- Competitive spreads in major tradable assets.
- Award winning client support desk with 24/5 operations.
- Comprehensive trader education courses professionally prepared to train beginner traders.