GekkoXM
About GekkoXM Broker
GekkoXM is a brokerage firm that commenced operations in 2017, specializing in the FX and CFD markets. The company is owned by GekkoXM Ltd. GekkoXM holds a certificate from the International Securities and Markets Authority (ISMA) under the number MOFR RU 121 AO BR007. It is important to note that ISMA, being a non-commercial organization, does not serve as a regulator and does not possess the authority to issue licenses for brokerage activities.
Instrument Variety at GekkoXM
GekkoXM offers a diverse range of over 250 trading instruments across various categories, including:
- Forex,
- gold and silver,
- oil,
- indices,
- cryptocurrencies.
Account Types on GekkoXM Platform
There are five account types available on the GekkoXM platform, each based on the deposit amount made by the client.
Basic Account: The minimum deposit required is $250 and includes introductory training, daily market reviews, and periodic webinars. Clients receive a 20% bonus.
Bronze Account: This account necessitates a minimum deposit of $500. Account holders are assigned a personal manager, although at an entry-level experience. Bonuses are set at 40%.
Silver Account: Accessible with a deposit exceeding $2,500. Silver account holders benefit from an experienced personal manager and a dedicated trading coach. The bonus percentage is elevated to 60%.
Gold Account: Clients need to deposit between $5,000 and $9,999. Experienced managers oversee these accounts, with bonuses increased up to 80%. Tailored strategies are developed for individual clients.
Platinum Account: Reserved for investments of $10,000 and above. The most proficient managers are assigned, along with maximum trainer attention and a 100% bonus offer.
Islamic accounts without swaps can be accommodated, and a demo account is available post-registration.
Personal Account Setup on GekkoXM
It is advisable to begin with registering a demo account to acquaint yourself with the platform without risking actual funds. To create a practice account, users must provide their full name, phone number, email, and select their country. Novice traders specify the deposit amount and desired leverage, up to 1:500.
Opening a real account involves additional steps, providing specific parameters and settings.
GekkoXM offers its proprietary trading terminal in two versions: regular and mobile. Supported currencies include dollars, euros, and three cryptocurrencies.
Deposits and Withdrawals at GekkoXM
There are several options available for depositing and withdrawing funds:
- bank transfers,
- payment services like Skrill, WebMoney, Neteller, QIWI,
- cryptocurrency wallets in BTC, ETH, LTC formats.
Depositing funds on the platform is free for traders, although commissions for transferring bitcoins, Ethereum, and Litecoin are applicable based on network tariffs.
Withdrawal fees vary, and it is recommended to review the corresponding table for details.
Summary of GekkoXM Review
Having access to a demo account and potential documentation are advantageous features. Notably, the ISMA certificate should not be considered a substitute for a comprehensive license from a regulatory body. The $250 minimum deposit may appear relatively high, as many regulated brokers offer trading opportunities with smaller amounts. We advise carefully assessing risks before investing in a company lacking a specific license.
This review has been prepared by the specialists at ExpertsReview.
GekkoXM was a very dissatisfying experience for me. I encountered several inconsistencies with the website’s performance which caused me to lose trading opportunities. Customer service was completely unresponsive to my complaints. Even the platform layout was convoluted, making it difficult for me to navigate easily. Overall, I’d not recommend GekkoXM to anyone due to its poor service and unreliable platform.