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GemForex Review & User Rating 2020

GemForex is a Forex and CFD brokerage firm that was founded in 2010. It was among the first brokers to introduce free Expert Advisers for FX traders. The broker is operated by the GEM GROUP NZ LIMITED from New Zealand, which is registered by the New Zealand Securities and Investment Commission (NZFSP) under license number FSP 564306. The company has offices in Japan, China, Taiwan, Hong Kong, and Korea.

  • Start year: 2010
  • Country of origin: Hong Kong
  • Regulation: (NZFSP) under license number FSP 564306
  • Payment options: Credit/debit cards, Neteller, Perfect Money, QIWI, RBK Money, Skrill, WebMoney, Wire transfer
  • Minimum account size: $50
  • Minimum lot size: 0.01 lot
  • Leverage: 1:500
  • Spreads: 0.01 pips on EUR/USD

Regulation

Gemforex is a regulated Forex and CFD broker. It is operated by the GEM GROUP NZ LIMITED from New Zealand, which is registered by the New Zealand Securities and Investment Commission (NZFSP) under license number FSP 564306.

Account Opening

To open an account with Gemforex, you just have to fill in your name and email address on the account registration form on their official website after which you shall receive the guidance for the registration completion as well as the Demo Account Opening completion.

The CFD Account

  • There is only one type of CFD account namely All-in-One Account.
  • The All-in-One Account can only be opened with USD and Japanese Yen (JPY) as the base currencies and the initial deposit requires is $1 or 100JPY.
  • A trader with a CFD account can choose to use market orders, limit orders or stop loss. He or she also has no limitation as to the use of Expert Advisors and mirror trading.
  • Traders are also allowed to hedge.
  • When a trader opens a CFD account, they are eligible for a free Demo account with $10,000 or 1,000,000 JPY virtual money.

The Forex Accounts

There are two types of Forex accounts: the All-in-One Account and No spread Account.

  • All-in-One Account
  • The All-in-One Account can only be opened with USD and Japanese Yen (JPY) as the base currencies and the initial deposit requires is $1 or 100JPY.
  • The maximum allowed leverage is 1:1000.
  • The spreads start from 1.2pips.
  • The least lot size that you can use is 0.01 and the maximum lot size is 30.
  • A trader with a CFD account can choose to use market orders, limit orders or stop loss. He or she also has no limitation as to the use of Expert Advisors and mirror trading.
  • Traders are also allowed to hedge.
  • When a trader opens a CFD account, they are eligible for a free Demo account with $10,000 or 1,000,000 JPY virtual money.
  • No spread Account
  • The No spread account can only be opened with USD and Japanese Yen (JPY) as the base currencies and the initial deposit requires is $1 or 100JPY.
  • The maximum allowed leverage is 1:1000.
  • It does not have spreads.
  • The least lot size that you can use is 0.01 and the maximum lot size is 30.
  • A trader with a CFD account can choose to use market orders, limit orders or stop loss. He or she also has no limitation as to the use of Expert Advisors and mirror trading.
  • Traders are also allowed to hedge.
  • When a trader opens a CFD account, they are eligible for a free Demo account with $10,000 or 1,000,000 JPY virtual money.

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