GMO Trading Review 2019

Regulated By:CySEC, MiFID

Foundation Year:2017

Headquarters:Prodromou & Demetracopoulou 2, 4th floor 1090 Nicosia, Cyprus

Min Deposit:$250

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  • Trade and account monitoring features come with the MT4. An example of such features is the live account statement, which displays information about live trades such as account history, order history, etc. 
  • The MQL5 market can be accessed from the platform. This is a market where apps for the MT4 and MT5 platforms are acquired for use. The apps come in the form of EAs, signals, indicators, etc.
  • Mobile Trading Platforms

    “The MT4 and the GMO trading mobile apps are the available mobile apps. These can be downloaded and installed from the Apple iOS Store and the Google Play store.”

    The mobile apps featured on GMO Trading include a proprietary mobile app and a generic trading app from MetaTrader.

    GMO Trading app:

    The GMO mobile trading app is the proprietary mobile trading app developed by the broker for trading on the go. It is integrated with the clients’ area of the website and can be used to manage the user accounts. The interface is simple to use and easy to operate. It is available for the Android and iOS mobile devices. The apps can be downloaded from the respective app stores.

    Here are some of the features of the GMO trading app:

    • Easily switch between the demo and real accounts with one touch. All trading accounts can be managed from the app.
    • Fund trading accounts from the app and view the transaction history. 
  • View live quotes of all the tradable assets in real time. The quotes can be customized for continuous display of your favourite assets.
  • View live charts on 9 different timelines ranging from one minute to one month.
  • Trade on the move by placing new orders, monitoring and closing trades from the app.
  • The MT4 app:

    This is the MT4 mobile app that integrates with the MT4 desktop and WebTrader accounts. Trades can be opened on the desktop and then monitored on the app and vice versa.  The MT4 app is simple and user friendly, yet packed with analytical and trading features. It is available as iOS and Android apps which can be downloaded from their respective stores. Follow the link on the website to download and install the app form the app store of your device.

    Here are some of the features of the MT4 app:

    • It shows the live quotes of all the assets for trading. Prices can therefore be easily monitored from the volatile market.
    • It shows 3 types of charts on 9 timelines from 1M to MN. The chart types are line, candlesticks and bar charts.
    • All current trades can be monitored on the app as it shows the account balances as well as profits made or losses incurred.
  • The app has inbuilt 7 trend indicators, 13 oscillators, 4 volume indicators and 6 Bill William indicators. These indicators are useful in technical analysis.
  • It features analytical tools; 6 lines, 4 channels, 3 Gann, 6 Fibonacci, 2 Elliot waves and 3 shapes.
  • Trading Features

    “The traders’ trend and the economic calendar are featured by the GMO trading brokerage in order to assist traders. These features favour beginners but may not be suitable for advanced traders”

    The trading features on GMO Trading are listed below. How do they serve the different trader categories?

    Traders’ Trend:

    This is a tool on the GMO trading mobile app. It shows the percentage of traders who are buying or selling an asset and is therefore a measure of the market sentiment. A trader may choose to go with the prevailing sentiment/trend or choose otherwise. This tool is a basic sentiment tool that is best used by beginners. Advanced traders have better tools to work with and may not place much value on this tool.

    Virtual Private Server (VPS):

    This is a very fast server that is needed by traders who wants to eliminate network fluctuations and ensure reliability and round-the-clock trading. It is provided at no cost to Platinum account holders only.

    Economic Calendar:

    This is a very important tool used for fundamental analysis and can be used by all levels of traders. It is a schedule that shows the dates and times of economic and financial news releases in different countries. These events have impacts on certain assets. The economic calendars also show the history of the events, their forecasted impact and the actual impact made. Traders can choose to choose to trade from the economic calendar.

    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.

    SYMBOL SPREAD SYMBOL SPREAD
    CURRENCIES INDICES
    EURUSD 0.7 ASX 200 1.3
    GBPUSD 1.3 CAC 40 1.45
    USDJPY 0.8 China Enterprise 40 1.3
    AUDUSD 1.1 DAX 30 1
    EURCHF 1.9 DOW 30 1.45
    EURGBP 0.9 Euro Stox 50 1.3
    NZDUSD 1.4 FTSE 100 1
    EURJPY 1.1 Hong Kong 50 3.3
    USDCAD 1.2 IBEX 35 2.3
    USDCHF 0.9 MIB 40 5.3
    AUDCAD 3.9 NASDAQ 100 0.9
    AUDCHF 4 Nikkei 225 5.95
    AUDJPY 3.6 South Africa 40 5.8
    AUDNZD 4.4 SP 500 0.8
    CADCHF 4 US Dollar Index 0.32
    CADJPY 3.6 Volatility Index 0.32
    CHFJPY 4.3 COMMODITIES
    EURAUD 4.3 Brent Oil 0.03
    EURCAD 4 Cocoa 30
    EURNZD 5.4 Coffee 0.3
    GBPAUD 5.1 Copper 0.0041
    GBPCAD 5.2 Corn 0.45
    GBPCHF 5.4 Cotton 0.25
    GBPJPY 3.7 Crude Oil 0.03
    GBPNZD 6.7 Natural Gas 0.003
    NZDCAD 4.4 Orange Juice 0.6
    NZDCHF 4.2 Palladium 0.58
    NZDJPY 4 Platinum 3.1
    USDHKD 7.6 R.B.O.B Gasoline 0.0007
    USDSGD 8.1 Soy Beans 0.65
    EURDKK 8.1 Sugar 0.23
    EURHUF 17.6 Wheat 0.45
    EURNOK 25.4 XAGUSD 0.037
    EURPLN 19.5 XAUUSD 0.37
    EURSEK 25.9 US STOCKS
    EURTRY 18.8 3M 0.21
    USDDKK 11.9 ADOBE 0.21
    USDHUF 17.8 AIG 0.21
    USDMXN 17.2 Alcoa 0.21
    USDNOK 32 Alibaba 0.21
    USDPLN 15.4 ALTABA 0.21
    USDRUB 16.7 Amazon 0.21
    USDSEK 31.3 AMEX 0.21
    USDTRY 13.2 APHRIA 0.21
    USDZAR 46.7 Apple 0.21
    USDINR 50 ARCELOR 0.21
    GBPTRY 100 ATT 0.21
    EURZAR 120 Baidu 0.21
    GBPZAR 120 BERKSHIRE 0.21
    EURSGD 10 BOA 0.21
    CRYPTOCURRENCIES Boeing 0.21
    ADAUSD Floating CAPRI 0.21
    BABUSD Floating CAT 0.21
    BSVUSD Floating Chevron 0.21
    BTCEUR Floating CHMO 0.21
    BTCGBP Floating Cisco 0.21
    BTCUSD Floating CITI 0.21
    BTGUSD Floating COKE 0.21
    DSHEUR Floating DISNEY 0.21
    DSHGBP Floating eBay 0.21
    DSHUSD Floating EXXM 0.21
    ETCEUR Floating Facebook 0.21
    ETCGBP Floating Ferrari 0.21
    ETCUSD Floating FIREEYE 0.21
    ETHEUR Floating GE 0.21
    ETHGBP Floating GM 0.21
    ETHUSD Floating GOLDSACHS 0.21
    IOTUSD Floating Google 0.21
    LSKUSD Floating GoPro 0.21
    LTCEUR Floating GW 0.21
    LTCGBP Floating HARLEY 0.21
    LTCUSD Floating HASBRO 0.21
    NEOUSD Floating HERSHEY 0.21
    QTMUSD Floating HPACK 0.21
    SICUSD Floating IBM 0.21
    USDT Floating Intel 0.21
    XEMUSD Floating JNJ 0.21
    XLMUSD Floating JPM 0.21
    XMRUSD Floating LibertyGlob 0.21
    XRPEUR Floating LINE 0.21
    XRPGBP Floating LOCKHEED 0.21
    XRPUSD Floating MA 0.21
    XVGUSD Floating MACYS 0.21
    ZECUSD Floating MANU 0.21
    EUROPEAN STOCKS MCDON 0.21
    ADS 0.21 MORGAN_STA 0.21
    Ahold 0.21 MSFT 0.21
    AIRBUS 0.21 Netflix 0.21
    ALLI 0.21 NIKE 0.21
    ALSTOM 0.21 Nokia 0.21
    ASELS-IST 0.21 NTDOY 0.21
    ASTON 0.021 NVIDIA 0.21
    AURORA 0.021 PfizeR 0.21
    AXA 0.21 PG 0.21
    B.PETROL 0.021 PM 0.21
    Barclays 0.021 QUALCOMM 0.21
    Bayer 0.21 RAYTHEON 0.21
    BBVA 0.21 REGN 0.21
    BMW 0.21 ROYAL 0.21
    BNP 0.21 SBUX 0.21
    BSANMD 0.21 SNAP 0.21
    CARREFOUR 0.21 Sony 0.21
    COMMBK 0.21 Spotify 0.21
    COTN-SWX 0.021 TESLA 0.21
    CREDIT 0.21 Teva 0.21
    CRONOS 0.021 TLRY-NSDQ 0.21
    DAIM 0.21 TME 0.21
    DBFRA 0.21 Toyota 0.21
    DPW 0.21 Twitter 0.21
    DTELE 0.21 UBS 0.21
    EDFELECT 0.21 Verizon 0.21
    ENI 0.021 VISA 0.21
    EOAN 0.21 WMART 0.21
    FABG 0.021 Yandex 0.21
    FIAT 0.021 AUSTRIALIAN STOCKS
    FING 0.021 A2M-ASX 0.21
    FRTELE 0.21 AGL-ASX 0.21
    GAZPROM 0.021 ALL-ASX 0.21
    GROUPEDAN 0.21 AMC-ASX 0.21
    Heineken 0.21 ANZ-ASX 0.21
    HEN 0.021 ASX-ASX 0.21
    HM 0.021 BHP-ASX 0.21
    HSBC 0.021 BSL-ASX 0.21
    IBER 0.21 BXB-ASX 0.21
    IFX 0.021 CBA-ASX 0.21
    INGA 0.21 CGF-ASX 0.21
    INTEX 0.021 CIM-ASX 0.21
    KAZ-LON 0.021 COH-ASX 0.21
    LIN 0.021 CPU-ASX 0.21
    LOREAL 0.21 CSL-ASX 0.21
    Lufthansa 0.021 CTX-ASX 0.21
    LUKOIL 0.021 CWN-ASX 0.21
    LVMH 0.21 DXS-ASX 0.21
    MARKS 0.021 FLT-ASX 0.21
    Metro 0.21 GMG-ASX 0.21
    MICHELIN 0.21 JHX-ASX 0.21
    MRK 0.021 LLC-ASX 0.21
    PETKM-IST 0.021 MQG-ASX 0.21
    RENAULT 0.21 NAB-ASX 0.21
    Repsol 0.021 NCM-ASX 0.21
    RWE-XET 0.21 ORI-ASX 0.21
    SAFRAN 0.21 QBE-ASX 0.21
    SANOFI 0.21 REA-ASX 0.21
    SAP 0.021 RHC-ASX 0.21
    SIE 0.21 RIO-ASX 0.21
    STMICROELEC 0.21 RMD-ASX 0.21
    TECHNIP 0.21 SEK-ASX 0.21
    TELFON 0.21 SHL-ASX 0.21
    TELITA 0.21 SUN-ASX 0.21
    TESCO 0.021 TCL-ASX 0.21
    Tkag 0.21 TWE-ASX 0.21
    Total 0.21 WBC-ASX 0.21
    UCG 0.021 WES-ASX 0.21
    UnileverNL 0.21 WOW-ASX 0.21
    VALLOUREC 0.21
    VEOLIA 0.21
    Vodafone 0.021
    VOLV 0.021
    VOWGEN 0.21
    WEED 0.021
    XIAOMI 0.021

    *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.

    Customer Support

    “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: support@gmotrading.com or Docs@gmotrading.com

    • Phone Numbers: Toll free number is +80050026003

    Research

    “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.

    Daily Reviews:

    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.

    Trader Education

    “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.

    Webinars:

    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.

    Forex eBook

    This is a 50-page book introducing forex trading to beginners. It also teaches trading psychology and tips for successful trading.

    Advanced eBook

    This is a 94-page online interactive book teaching forex principle and advanced techniques.

    Articles

    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.

    Courses

    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.

    Tutorials

    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.

    Trading Experience

    “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.

    FAQ

    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.

    Conclusion

    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.

    Top User Reviews

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    4.4(54)
    GMO Trading Overall Rating
    FX Empire adheres to strict standards of user reviews editorial guidelines to help you make decisions with confidence.
    Rate GMO Trading
    Latest 5 user reviews sorted by highest rating
    Valentin Diaz
    5/5
    Reliability:
    5/5
    Platforms:
    4.0
    Assets:
    4.0
    Support:
    5.0
    Aceptable

    Ofrece los mismo activos que todos los demás, lo que quisiera resaltar es su proceso educativo que me parece bastante bueno, mi hermano también empezó a operar con ellos hace poco y ya puedo tener buenas conversaciones de Trading con el, incluso hacemos análisis juntos.

    Н
    Натан Уваль
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    4.0
    Support:
    5.0
    доволен

    У меня были финансовые проблемы. поэтому друг посоветовал гмо трейдинг. Я скептически отнесся, но рискнул и не пожалел) не сразу получил прибыль, даже немножко "проиграл", но потом больше научился и да, дела пошли "вверх")

    M
    Melon Perris
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    5.0
    Support:
    5.0
    positive opinion

    The leverage is high, withdrawal is not so hard, low FTD and wide amount of markets. In general, it is 100% suitable for me to trade with them

    Lucas Rubio
    5/5
    Reliability:
    5/5
    Platforms:
    5.0
    Assets:
    5.0
    Support:
    5.0
    Interesante broker

    Tiene una propuesta muy interesante, trabajo con ellos hace ya un tiempo, su plataforma MT4 es amigable, tiene mucho activos para operar y me gusta lo de su apalancamiento.

    D
    Devon Parks
    5/5
    Reliability:
    5/5
    Platforms:
    4.0
    Assets:
    5.0
    Support:
    5.0
    I'm glad to work with gmo

    Well done! Gmotrading workers know right approach to the clients. I have very nice account manager and professional analyst. They let me earn and they don't have access to my money. I just open deals, sometimes it gains, sometimes i lose my money. I prefer trading on currency pairs and crypto. As I noticed, gmotrading is really trustworthy broker, i've worked with it during quite long period of time, and it hadn't let me down.

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