Last update: 22 July 2020
7 min read
Non-recommended broker
Regulated by

GDMFX review

22 July 2020

This broker was not featured in our 2020 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.

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GDMFX stands for Global Derivative Capital Markets NZ Limited, which is a global online broker that provides currency trading services for a wide range of investors. The company is registered in New Zealand, and as such is listed on the New Zealand Company’s Office site. It has been based in Auckland since 2012. It is also a member of the Financial Dispute Resolution Service of New Zealand. Our advice for anyone looking for a Forex broker is to choose one that is licensed and regulated by a recognized regulatory body, preferably in the country in which you are resident. GDMFX is not currently regulated, but after contacting the customer support department, we have been told that it is currently in the process of getting regulation from its European divisions. At the end of the day, the choice is yours and there are a number of benefits to choosing GDMFX that you may feel outweigh the fact it is an unregulated broker.

gdmfx

Bonus

Yes

Regulation

No

Mobile

Yes

Instruments

Forex, Metals, Indices, Energies

Website

www.gdmfx.com
Not Verified

The benefits of using GDMFX as your broker

  • No dealing desk execution
  • The safety of your funds is guaranteed
  • Bonuses and promotions available
  • Free webinars and training
  • Offices in Asia-Pacific and Europe

These are just a few features this broker is able to offer. Let’s continue with our GDMFX review and give you some more details.

GDMFX is running some great promotions at present

Promotions and bonuses are often something new traders are looking for, as it can help ease the way when using a new broker. GDMFX offers a number of promotions, including:

  • 50% Welcome Bonus – Up to $30,000 is available when you open a trading account with GDMFX with a 50% welcome bonus.
  • 100% Tradeable Bonus – Fund your account with at least $1000 and you’ll be able to double your capital with a 100% tradeable bonus.
  • 4x Replay Bonus – Loyal clients are able to boost their capital on top of subsequent deposits, provided a minimum deposit of $1000 is made.
  • Deposit Fee Waiver – Wire transfers are one of the methods you can use to fund your account and is one that usually incurs a substantial fee. This fee is usually levied by the transferring bank and it is this fee that can be reimbursed by GDMFX. The wire transfer will, however, have to be at least $500 or its equivalent.
  • 8% Fixed Income – This program is for Forex and Binary options traders who can receive an 8% annual income on free funds in a trading account. And unlike a number of other brokers who make similar offers it doesn’t involve a heavy minimal trading requirement.

Terms and conditions apply to these and any other bonuses or promotions. Make sure you read and understand these before opening an account and making your first deposit.

GDMFX has a broad range of account types to choose from

If you choose to trade with GDMFX there are five different accounts to choose from, as well as an Islamic account. There is also a demo account which provides an opportunity to try out some of the broker’s services without risking any of your own cash. It is also perfect for learning about the trading platform, which in the case of GDMFX is MetaTrader 4 and testing a new strategy. The five different accounts have the following features:
Classic Account

  • Minimum deposit 100 USD
  • Deposit currencies USD/EUR
  • Maximum leverage 1:500
  • Fixed spreads
  • Unlimited maximum balance
  • Margin call 100%
  • Stop out 50%

Blade Account

  • Minimum deposit 200 USD
  • Deposit currencies USD/EUR/GBP
  • Maximum leverage 1:200
  • Floating spreads from 0.1 pip
  • Unlimited maximum balance
  • Margin call 100%
  • Stop out 50%
  • Swap free account available

Blade Pro Account

  • Minimum deposit 5000 USD
  • Deposit currencies USD/EUR/AUD/GBP
  • Customizable leverage
  • STP with interbank spread
  • Unlimited maximum balance
  • Commission 7USD per lot
  • Margin call 100%
  • Stop out 30%
  • Swap free account available

Prime Account

  • Minimum deposit 200,000 USD
  • Deposit currencies USD/EUR/AUD/GBP/JPY
  • Leverage 1:100
  • STP with interbank spread
  • Unlimited maximum balance
  • Customizable commission
  • Margin call 100%
  • Stop out 30%

Binary Options Account

  • Minimum deposit 100 USD
  • Deposit currencies USD/EUR/GBP
  • No commission
  • Maximum total investments 2000
  • Maximum number of positions 10

It’s possible to make payments both into and out of your account using a number of different methods. Visa and MasterCard, Neteller, Perfect Money, Swift, Skrill and i-Account are just a few of the options. There are also more than 50 local deposit methods and the payments page gives all the details. All withdrawals are subject to a fee of 1% and are subject to change without any prior notice.

GDMFX uses the MetaTrader 4 trading platform in a variety of versions

notebook and penThere are a number of different trading platforms available for traders with GDMFX, although they all revolve around the MetaTrader 4 platform. It is, after all, the most popular trading platform in the industry and provides traders with a multi-language format that comes with customizable charts, indicators and Expert Advisors. There is MT4 Webtrader that allows you to trade Forex from any browser and operating system with no need to install special software. MetaTrader 4 mobile is another option which allows you to access your account and start trading in just a few clicks.

GDMFX provides plenty in the way of customer education

GDMFX is aiming its services not just at those with experience and large amounts of cash. This can be presumed because minimum deposits start at just 100 USD and there is a fair amount of educational material. Including webinars, video tutorials and a Forex dictionary. There is also something that’s been called the Hermes Academy for those who are new to Forex and want to get acquainted. Starting off with the Beginners level and working through Intermediate. And for those with more experience there is the Advanced level. One on one training is another option and is provided for free with the company professional traders.
Customer support is available in a number of different languages and can be contacted using SMS, Skype, email, instant message or by telephone.
GDMFX may not have been around for too many years, but does seem to have gained quite a loyal following, in spite of being unregulated. Its success can also be measured by a number of rewards it has received. We found out that it was looking at gaining a licence, which is testament to its commitment to providing a better service.
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