This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
FXGM Review
FXGM was a Cyprus based CFD brand run by Depaho Ltd. CySEC suspended its trading license in 2021, and the firm behind it later renamed away from FXGM.
Min Deposit
N/A
Spreads From
Not applicable, FXGM is treated as closed
Max Leverage
Not applicable, FXGM is treated as closed
Platforms
MetaTrader 4, PROfit
Pros
- FXGM once held a genuine CySEC license in Cyprus, number 161/11
- It offered MetaTrader 4 next to its own PROfit trading platform
- CySEC rules made Depaho keep client money in separate accounts
- New traders got free one on one training sessions and webinars
- Retail accounts carried negative balance protection under CySEC rules
Cons
- CySEC suspended the whole Depaho trading license in July 2021
- Poland's regulator put the FXGM brand on its warning list in 2019
- The Cyprus firm behind FXGM later renamed itself Naxex Invest Ltd
- Independent trackers now list FXGM's regulatory status as unverified
- Watchdog sites log years of complaints about slow or blocked withdrawals
- Sweden's regulator removed the firm from its own register in 2021
FXGM was a forex and CFD brand owned by Depaho Ltd, a Cyprus firm registered in 2011 under number HE 292004. Depaho held Cyprus Investment Firm license 161/11 from CySEC. Poland's regulator added Depaho to its public warning list in 2019 for offering services there without permission.
In July 2021, CySEC suspended the whole license. The regulator said Depaho gave investment advice without the right approval. Spain's CNMV posted a matching notice the same week. CySEC lifted the suspension in November 2021, but Sweden's regulator still removed Depaho from its own register.
The Cyprus company behind FXGM has since changed its registered name to Naxex Invest Ltd. Some local FXGM sites still run under separate firms, such as an FSCA licensed company in South Africa. Independent trackers list FXGM's regulatory status as unverified, so BestForex.io treats it as closed.
Max Leverage
Not applicable, FXGM is treated as closed
Spreads From
Not applicable, FXGM is treated as closed
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
