gmiglfx.com has been flagged by AMF (France) for "Unauthorised". Category: Forex This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: gmiglfx.com.
gmiglfx.com advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Professional team|Fast execution|Market news feed|Copy trading available
Cons: Slow to add new assets|Minimum deposit could be lower
I wanted to transfer my portfolio from another broker to gmiglfx.com. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Wide product range|Excellent charting|Multi-currency support|Customizable dashboard
Cons: Inactivity fee applies after 12 months|Website design could be more modern
If you are reading this considering gmiglfx.com - run. I wish I had read more negative reviews after hearing about them at a conference. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Full transparency|Clear documentation|Fast deposits|Detailed reporting
Cons: Currency conversion fee exists|Slow to add new assets