GEMFOREX Review|Reputation and Safety

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gemforex

In this article, the author of FX company with 12 years of FX history offers a harsh review on "GEMFOREX (Gemforex)"

Although GEMFOREX has some attractive parts, it is a counter-trader who does not own a financial license and is a trader with many risks and restrictions.

Pros

  • Leverage up to 1,000 times
  • Free transaction fee for all accounts
  • Industry's top level of spread
  • A favorable condition that the fee-free automatic trading mirror trade is good
  • We adopt zero cut system
  • There are many deposit methods
  • Will refund the bank transfer fee
  • Support center response is perfect
  • Campaign bonus is luxurious

Cons

  • No financial license
  • We are concerned about the asset protection system
  • Trading conditions such as scalping are severe
  • No spread account is a discretionary trading account
  • There are as few as 33 types of currency pairs
  • Swap is cheap
  • The conditions under which withdrawal fees occur are severe
  • Support services are general

The official site of GEMFOREX is here

GEMFOREX Safety

They do not own financial license

Operating company
(location)
GEM-TRADE Co.,Ltd
(Head office: Seychelles)
(Main office: Hong Kong)
Representative Managing director: Keith Fitzwilliam
Director: Junichi Aoshima
Director: Masaaki Ueda
Director: Yuji Todoroki
Financial license Unregistered
Established July 25, 2010
Capital $100,000,000

"GEM-TRADE Co., Ltd", which operates GEMFOREX, is a company established by Japanese companies in 2010.

The head office is Seychelles, and the main office is located in Hong Kong. However, the board members are Japanese , and they sell MADE IN JAPAN.

Being conscious of Japanese customers, the official website is fully open-minded and secure, and it is a very good impression that the corporate philosophy and the landscape of the office are well publicized.

It has also won numerous awards.

However, the problem is that they do not have any financial license, so they are not regulated or supervised by a third party.

Leverage can be done with up to 1,000 times, and because of this lack of restraint, most of the operations are left to the autonomy of the vendors.

In other words, as a trader, you have to obey what the trader decides.

 

Client assets are separated management only

On the GEMFOREX official site, "Trust maintenance" is stated as follows.

The trust protection of the same amount of funds as the customer's operating funds is carried out.

Source: GEMFOREX official site FAQ

However, this seems somewhat different from the general meaning of trust preservation.

The trust preservation scheme is that "If a vendor fails, customer assets are fully returned through a third party."

When asked "Is the company asset and the client asset clearly segregated, and in the event of failure the customer asset will be fully refunded?", this is what they replied with.

Company assets and client assets are not managed separately at a financial institution, but the same amount of funds as the customer's operating funds are maintained (sorted storage) at the trust bank of the alliance.

In other words, we have not stated that "full return" is guaranteed.

Since there are many vague parts such as the names of financial institutions to which trusts have been issued and no financial licenses, there are no responsibility for holding assets.

 

GEMFOREX Reviews

Let's look at the word of mouth and reputation.

Word of mouth/ Reputation

Please note that amongst the bad reputations, these people are “frauded traders who failed”, “lossy traders”, “traders who want to clear up the mess”, “the traders who are willing to keep the rules”.

 

Strict evaluation in Japan as a whole

User reviews

 

Although there were comments saying "GEMFOREX is risk free!" etc, but as it is a commercial purpose affiliate, so please ignore this kind of thing.

There is always a risk regardless of where you use it.

Overall, it is an impression that there are many harsh evaluations.

Worried about whether they could withdraw the profit from scalping, lifted the transaction limit due to reaching the upper limit Lot number, worried about the excessive deposit bonus system, and the high withdrawal fee, etc.

This will be explained in more detail later.

 

Features, Pros and Cons of GEMFOREX

All-in-one account No spread account
Transaction cost Account Creation
Maintenance Fee
Free※
Transaction fee Free
Spread Variable system
Terms and conditions Transaction form DD method
Leverage Up to 1,000 times
Currency pair 33 stocks (currency only)
Minimum transaction unit 1,000 currency
(0.01 Lot)
10,000 currency
(0.1 Lot)
Maximum trading volume 3 million currency
(30 Lot)
Order process One click, market, limit, stop
IFD・OCO、IFO
Double house
Trading tool Computer MT4 (Windows・Mac)
Mirror trade (general purpose)
Smartphone MT4 (iOS・Android)
Fund management Margin call 55%
Loss cut 50%
Zero cut
Deposits and
withdrawals
Minimum deposit amount ¥100 ¥300,000
Deposit fee Free
Withdrawal fee
Asset protection Separation management
Trust maintenance
Support Call center ×
Email
Live chat ×
Others Depending on the case
Telephone, Skype available
Demo account ×

Every year on 1/1, 4/1, 7/1, 10/1, any live accounts that have not been traded at all for 90 days incurs a 1,500 yen account maintenance fee. However, the maintenance fee will not be deducted if there is no balance in the account. If you haven't used your account for a year, you also have the penalty for freezing your account and deleting your bonus.

No spread account will not be credited within 3 days after opening "If you withdraw without making a transaction even once after payment" "If you do not make a transaction within 30 days after payment" "If there is no transaction for more than 1 year" will be automatically transferred to the All-In-One Account.

 

No spread account has low transaction cost but has disadvantages

The trading form of GEMFOREX is the DD method (full trade with a vendor).

There are two types of accounts: regular all-in-one accounts and no spread accounts with narrow spreads. (No spread account may limit opening of new account)

Both accounts have a common currency pair of 33 stocks, but their leverage is up to 1,000 times!

Since the minimum transaction unit is 1,000 currencies for All-in-one account and 10,000 currencies for no-spread account, the necessary margin will be at least a few hundred yen.

Swaps are cheap, so they are not suitable for long-term trading, and they are suitable for short-term trading with small funds.

GEMFOREX spreads are basically based on a variable system, but in the case of major currencies, they are mostly fixed with very narrow spreads.

Moreover, the transaction fee for all accounts is free!

The total cost of a no-spread account is one of the lowest in the industry, given the same level of other accounts, with transaction fees occurring between $3 and $5 per way, per 10,000 currency.

All-in-one accounts are less expensive than other companies.

However, please note that no-spread accounts can not be traded automatically using EA, and they are dedicated trading accounts.

In addition, conditions for scalping are strict, and it is necessary to pay attention to account freezing, profit freezing, etc.

Please note that non-trading accounts will be penalized as "Account Maintenance Cost, Account Type Forced Change, Bonus Cut, Account Freeze".

Although GEMFOREX has good trading conditions, it can be said that it has many restrictions.

 

The original automatic trading "mirror trade" is for beginners

The trading tool is high-performance platform "MT4".

As there are many FX vendors that use MT4, it can not be said that it is the merit of GEMFOREX so much.

However, Mirror Trading offers 100 types of strategies (automatic trading programs) free of charge and does not incur any extra costs such as investment advisory fees. The spread is also normal.

It depends on the strategy and market you choose, so it's hard to say in general, but it would be a good condition for a trading beginner to start trading.

It is easier than automatic trading using MT4's EA (Expert Adviser).

Both MT4 and Mirror Trading can be used with a demo account.

 

Support is acceptable, deposits and withdrawals require attention, asset protection is a bit uneasy

Customer support is usually email only, but in some cases you may be contacted via phone or Skype.

For FX dealers, it can be said that it is very normal support.

There are a wide variety of deposit and withdrawal methods, and there is also a nice service that will refund the bank transfer fee, but the conditions for the minimum deposit amount and withdrawal fee are severe, so we need to be careful.

We use segregated management to protect our client assets.

However, we do not know if customer assets will be fully refunded in the event of a vendor failure.

As mentioned earlier, the lack of a financial license and the lack of regulations or systems to support asset protection are also disturbing factors.

 

From GEMFOREX account opening to deposit and withdrawal

Necessary items are ID card, address card, selfie

Opening an account is very easy and takes about 5 minutes.

However, please be aware that you will need to submit the following identification documents by the time you withdraw the funds.

You should not make a payment until your identity verification is approved, considering the case when the documents become incomplete.

Identification documents

  1. Identification card image data
  2. Address certificate image data
  3. Large clear picture of ID card and the person together

You can use a driver's license or passport on time, a public address receipt on a utility bill within 3 months of issuance, and a bill for a credit card company or a mobile phone company.

③You can take a photo as if you're taking a selfie

The procedure for opening an account is as follows.

Account opening procedure

 

② Select account type "Japanese Yen account/ USD account (All in one or No spread)", select the registration type from "Personal account, individual business owner account, corporate account", and enter your name and e-mail address in Roman characters.

③ Please check "I am a human" and "Registration confirmation button" will be displayed at the bottom of the screen, click it and OK the confirmation screen. Then, "Send content button" will be displayed at the same position, so click again. Registration is complete.

 

  • Account number
  • My page login password
  • Transaction Tool Login Password (Normal)
  • Transaction Tool login password (read only)

④ The above four account information will be sent to the registered email address. Read-only passwords are not normally used. This is a password that tells the other party when you disclose the account balance, transaction details, etc. to a third party.

 

⑤ Log in to My Page from the top of GEMFOREX official site.

 

⑥ Please enter your email address and My Page login password.

 

⑦ You are now logged in to Member's Site. If you wish to open a mirror trading account, just click on the "Sign up" above and just click OK on the confirmation screen. Right away, "mirror trade" is added to the items in the left menu.

 

⑧ Scroll down My Page TOP. Please enter your birth date and ID of the ID card in the above section and click "Register".

 

⑨ In the area slightly below that, there is a section to upload identity verification document image data. Specify image data with "Select file" button and click "Upload" to complete.

⑩ Bank information of withdrawal destination and remaining personal information Please click "here" in the lower part to register.

 

⑪ Enter the name and phone number in roman letters.

 

⑫ Enter all bank information of withdrawal destination in Romaji. Please ask the bank directly if you do not know the information.

⑬ Finally, click on the "OK" button at the bottom of the registration confirmation screen and then click the confirmation screen displayed. Next, "Send content button" will be displayed at the same position, so click again. This completes the preparation for account opening and withdrawal.

 

There are many ways to deposit and withdraw money, but the conditions for withdrawal are strict

Method of deposit and withdrawal Possible currencies Fee
Deposit Credit card Japanese Yen、US Dollar Free※
Bank transfer Japanese Yen
WEB money mybitwallet
Perfect Money US Dollar
PAYEER
Virtual currency Bitcoin
Ethereum
Others China domestic bank Chinese Yuan
UnionPay
Wechat
Under
maintenance
PayPal Japanese Yen、US Dollar
MEGA TRANSFER Japanese Yen、US Dollar、Chinese Yuan
Withdrawal Bank transfer Japanese Yen
WEB money mybitwallet
Virtual currency Bitcoin

 

GEMFOREX is very rich in payment methods, and deposit and withdrawal fees are basically free.

Commonly used credit cards, domestic bank remittances, and web money such as mybitwallet are all supported, and you can deposit with bitcoin, ethereal, and renminbi.

Withdrawals are only Japanese yen and bitcoins.

If you can use "PayPal" or "MEGA TRANSFER" during maintenance, you have more options, but it's a bit confusing to know what is the best?

Therefore, we compared the minimum deposit amount and the reflection time.

Method of deposit and withdrawal Minimum deposit amount Time frame
Deposit Credit card ¥5000、$50 immediate
Domestic bank transfer ¥1 Immediately after
payment confirmation
mybitwallet ¥10,000 immediate
Perfect Money $100
PAYEER
Bitcoin 0.01 BTC
Ethereum 0.1 ETH
Withdrawal Overseas bank transfer ¥1 3~5 business days
mybitwallet 1~3 business days
Bitcoin 0.1 BTC

 

If you want to make a quick deposit, a credit card that can be reflected immediately, WEB money, and virtual currency would be best.

However, the minimum payment amount is approximately 5,000 yen to 10,000 yen.

Bank transfers that can be made from 1 yen are convenient for small deposits that are not urgent.

The reflection time is based on GEMFOREX and the business day of the financial institution.

Be careful because it takes several days to withdraw.

Please be aware of the following points regarding deposits and withdrawals.

Notes on deposit and withdrawal

  • You can not withdraw if you have a position in the withdrawal source account.
  • When a withdrawal request is made, all held bonuses disappear.
  • You can not withdraw the bonus.
  • A no-spread account will automatically change to an all-in-one account if it is not deposited within 3 days of opening the account.

Conditions of deposit and withdrawal are quite strict.

Bank transfer also has the following advantages and disadvantages.

Benefits of bank transfer

GEMFOREX bears the transfer fee and foreign currency handling fee for bank transfer payment. It is refunded by contacting us by email an image that shows the amount of the fee.

Disadvantages of bank transfer

The withdrawal fee by bank transfer is free until once a month. Withdrawals after the second month of the month are uniformly 4,500 yen if it is less than 200,000 yen, and 2% of the commission of the amount of money is incurred if it is more than 200,000 yen.

It is appreciated that the transfer fee generated by the bank will be borne, but the conditions for the withdrawal fee are severe.

It would be better to go out with a well thought out plan.

 

The payment procedure is as follows (the withdrawal procedure is almost the same).

Payment procedure

Start from the top menu of Member's Site.

+ card

Enter the deposit account and the amount and click "The deposit is here".

Enter the card information on the credit card payment screen, click the Confirm button.

 

GEMFOREX Terms and Conditions

There are as few as 33 currency pairs

Cross currency
AUD/JPY CHF/JPY GBP/JPY USD/JPY
CAD/JPY EUR/JPY NZD/JPY ZAR/JPY
AUD/CAD EUR/GBP GBP/NZD USD/MXN
AUD/CHF EUR/NZD GBP/USD USD/SGD
AUD/NZD EUR/USD NZD/USD USD/TRY
AUD/USD EUR/ZAR USD/CAD USD/ZAR
EUR/AUD GBP/AUD USD/CHF
EUR/CAD GBP/CAD USD/CNH
EUR/CHF GBP/CHF USD/HKD

+ currency symbol

AUD: Australian Dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, EUR: Euros, GBP:British Pound, HKD: Hong Kong Dollar, JPY: Japanese Yen, MXN: Mexican Peso, NZD: New Zealand Dollar, SGD: Singapore Dollar, TRY: Turkish Lira, USD: US Dollar, ZAR: South African Rand

The currency pair is 33 stocks.

Besides this, there are also XAU/ USD and XAG/ USD handling.

The transaction units are all-in-one accounts with 1,000 currencies (0.01 Lot) and no spread accounts with 100,000 currencies (1 lot), and the maximum trading volume is 3 million currencies (30 lot).

There are very few kinds compared with other forex companies, but there is no problem in particular as popular stocks are handled mostly.

 

Spread is general and total cost is super cheap!

All-in-one account

Currency pair Reference spread
(pips)
Currency pair Reference spread
(pips)
AUD/JPY 1.6 GBP/JPY 2.1
CAD/JPY 2 NZD/JPY 2.1
CHF/JPY 2.1 USD/JPY 1.2
EUR/JPY 1.5 ZAR/JPY 4.4
AUD/CAD 4.3 GBP/CHF 6.0
AUD/CHF 3.1 GBP/NZD 9.0
AUD/NZD 3.6 GBP/USD 2.5
AUD/USD 2.0 NZD/USD 2.8
EUR/AUD 3.3 USD/CAD 2.0
EUR/CAD 3.7 USD/CHF 2.0
EUR/CHF 2.4 USD/CNH 21.0
EUR/GBP 2.0 USD/HKD 15.0
EUR/NZD 5.9 USD/MXN 55.0
EUR/USD 1.2 USD/SGD 5.0
EUR/ZAR 338.0 USD/TRY 22.0
GBP/AUD 6.0 USD/ZAR 20.0
GBP/CAD 5.0

 

No spread account

Currency pair Reference spread
(pips)
Currency pair Reference spread
(pips)
AUD/JPY 1.0 GBP/JPY 1.3
CAD/JPY 1.5 NZD/JPY 1.5
CHF/JPY 1.5 USD/JPY 0.3
EUR/JPY 1.0 ZAR/JPY 2.7
AUD/CAD 2.6 GBP/CHF 3.3
AUD/CHF 1.4 GBP/NZD 6.1
AUD/NZD 1.9 GBP/USD 0.8
AUD/USD 0.3 NZD/USD 1.1
EUR/AUD 1.6 USD/CAD 0.3
EUR/CAD 2.0 USD/CHF 0.3
EUR/CHF 0.7 USD/CNH 19.3
EUR/GBP 0.3 USD/HKD 13.3
EUR/NZD 4.2 USD/MXN 53.3
EUR/USD 0.3 USD/SGD 3.3
EUR/ZAR 68.3 USD/TRY 20.3
GBP/AUD 4.3 USD/ZAR 18.3
GBP/CAD 2.4

+ currency symbol

AUD: Australian Dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, EUR: Euros, GBP:British Pound, HKD: Hong Kong Dollar, JPY: Japanese Yen, MXN: Mexican Peso, NZD: New Zealand Dollar, SGD: Singapore Dollar, TRY: Turkish Lira, USD: US Dollar, ZAR: South African Rand

Spread as of 2:00 June 19, 2018

The above is a reference value for spreads published by GEMFOREX.

This is confusing even if you look at it, so if you compare the total cost of this spread and the transaction fee with other companies, you can see how cheap the transaction cost of GEMFOREX is.

Companies with no fees for all account types
GEMFOREX is6com iForex
(fluctuation)
All-in-one
(fluctuation)
No spread
(fluctuation)
Standard
(fluctuation)
Pro
(fluctuation)
Transaction fee
(One way)
Free Free Free Free Free
USD/JPY ¥120 ¥30 ¥160 ¥80 ¥90
EUR/JPY ¥150 ¥100 ¥230 ¥110 ¥140
GBP/JPY ¥210 ¥130 ¥310 ¥150 ¥250
EUR/USD ¥120 ¥30 ¥150 ¥70 ¥90

 

Companies with varying fees by account type
AXIORY XM
Standard
(fluctuation)
Nano spread
(fluctuation)
Standard
(fluctuation)
ZERO account
(fluctuation)
Transaction fee
(One way)
Free $3 Free $5
USD/JPY ¥140 ¥98 ¥140 ¥113
EUR/JPY ¥150 ¥118 ¥240 ¥163
GBP/JPY ¥190 ¥188 ¥300 ¥193
EUR/USD ¥100 ¥88 ¥160 ¥113

Transaction cost per 10,000 currency (spread cost + Round trip fee). Transaction fees are displayed in one-way amounts per 100,000 currency.

Basically, other companies' standard accounts are the same as the GEMFOREX all-in-one accounts, with the same DD method and fee-free account.

However, in GEMFOREX, the spread of the major currency is almost fixed, and the spread of other companies fluctuates considerably.

Depending on the timing, at this point the GEMFOREX All-in-One account has lower transaction costs than other companies' standard accounts.

On the other hand, the account for seniors that each vendor prepares is

  • GEMFOREX no spread account: DD method · fee free · spread almost fixed
  • is6com Pro account: DD method · Fee free · Spread almost fixed
  • iFOREX: DD method · Fee free · Spread fluctuation
  • AXIORY Nano Spread Account: ECN Method, Fee One Way $3 Spread Change
  • XM ZERO account: ECN system, commission one way $5, spread fluctuation

And the conditions are very different, and depending on whether you emphasize transparency or emphasis on cheap / stable transaction costs, you can not simply compare.

However, the GEMFOREX no-spread account at this point is a cheaper transaction cost than other companies!

However, GEMFOREX declares no requotes and no rejections, but it can not be said to be zero because it is a DD trader.

You need to be cautious with stop hunting and spread expansion.

 

Swap points are too small and not suitable for long-term trading

Currency pair Long
(Yen)
Short
(Yen)
1st NZD/USD 40 -90
2nd AUD/CHF 23 -114
3rd AUD/JPY 22 -83
4th AUD/USD 18 -70
5th AUD/CAD 11 -64
6th USD/ZAR 8 9
7th EUR/USD 2 2
8th USD/JPY 2 2
9th GBP/JPY 1 -37
10th USD/HKD 1 2
11th NZD/JPY 0 -1
12th CAD/JPY -8 -51
13th USD/CNH -10 0
14th GBP/CHF -14 -145
15th USD/CHF -14 -84
16th EUR/JPY -15 -12
17th GBP/USD -21 -49
18th ZAR/JPY -23 -23
19th EUR/CHF -32 -91
20th USD/CAD -43 -26
21st EUR/GBP -53 -6
22nd GBP/CAD -56 -56
23rd AUD/NZD -62 -1
24th EUR/CAD -64 -6
25th CHF/JPY -89 -34
26th USD/MXN -104 17
27th USD/SGD -106 -57
28th EUR/AUD -122 41
29th GBP/AUD -143 26
30th USD/TRY -154 72
Currency pair Long
(Yen)
Short
(Yen)
1st EUR/ZAR -266 148
2nd GBP/NZD -209 97
3rd EUR/NZD -159 94
4th USD/TRY -154 72
5th EUR/AUD -122 41
6th GBP/AUD -143 26
7th USD/MXN -104 17
8th USD/ZAR 8 9
9th EUR/USD 2 2
10th USD/JPY 2 2
11th USD/HKD 1 2
12th USD/CNH -10 0
13th NZD/JPY 0 -1
14th AUD/NZD -62 -1
15th EUR/GBP -53 -6
16th EUR/CAD -64 -6
17th EUR/JPY -15 -12
18th ZAR/JPY -23 -23
19th USD/CAD -43 -26
20th CHF/JPY -89 -34
21st GBP/JPY 1 -37
22nd GBP/USD -21 -49
23rd CAD/JPY -8 -51
24th GBP/CAD -56 -56
25th USD/SGD -106 -57
26th AUD/CAD 11 -64
27th AUD/USD 18 -70
28th AUD/JPY 22 -83
29th USD/CHF -14 -84
30th NZD/USD 40 -90

+ currency symbol

AUD: Australian Dollar, CAD: Canadian Dollar, CHF: Swiss Franc, CNH: Offshore Renminbi, EUR: Euros, GBP:British Pound, HKD: Hong Kong Dollar, JPY: Japanese Yen, MXN: Mexican Peso, NZD: New Zealand Dollar, SGD: Singapore Dollar, TRY: Turkish Lira, USD: US Dollar, ZAR: South African Rand

Swap per 10,000 currency on June 19, 2018 (Yen).

Swap points are quite disadvantageous compared to other companies.

Because the amount is small and there are many negative swaps, it is not suitable for long-term trading.

 

Zero cut adopted, no additional certification

Margin call maintenance rate is 55%, loss cut is margin maintenance rate 50%.

In addition, it corresponds to the zero cut system.

Even if the loss cut is not in time due to sudden fluctuations in market prices and the account balance becomes negative, there is no need for additional certificates or additional deposits, and the account balance is reset to zero.

Margin call mail will not be sent, but if the margin maintenance rate falls below 110%, the MT4 "Terminal window → transaction tab → balance / necessary margin / surplus margin" column will be displayed in red.

 

Be careful with the terms and conditions violation fee and transaction restrictions!

Since GEMFOREX is a counter trade, "Customer profit is vendor loss, customer loss is vendor profit".

Therefore, extreme trading styles are penalized.

It is necessary to trade so as not to violate the terms of use, and be aware that penalties such as violation fee, transaction limitation, profit freezing and account freezing may be received.

The breach fee is as high as $ 20 per round trip.

Major violations include malicious acts using zero cut bonus loopholes, extreme scalping and arbitrage.

As we extracted parts that you want to be particularly careful in the terms of use, please refer to below.

Article 12 (Prohibited act of user)

In order to use this service, users must not do the following: If any of the following acts are found, the service may be suspended or deleted unconditionally, and the reward may be frozen. In some cases, legal action will be taken. The Company shall judge the presence or absence of prohibited acts, and shall not require the user to explain the contents and grounds.

  • Depositing to two vendors (or multiple vendors) and conducting double-denominated transactions (including same currency pairs and highly correlated currency pairs)
  • Conducting double-denominated transactions in our company's multiple accounts (including same currency pairs and highly correlated currency pairs)
  • The third party repeatedly pays and trades at the same timing and withdraws at the same timing
  • A transaction that is considered malicious only at the time of economic indicators, at the time of US employment statistics release, and when the market price changes rapidly, such as government or central bank intervention.
  • Trading in large lot numbers without prior contact

Article 20 (Regarding cancellation/return/refund)

We can not accept any responsibility or refund for losses caused by the account opening user. All shall be used under the judgment and responsibility of the user.

Article 12 If you fall under the prohibited act of the user, you may not be able to authorize withdrawal, and the user shall not claim any significance. Also, in that case, for the principal received, we will deduct a refund for the Terms of Service violation fee(*). However, if the principal is lost at the time of discovery, the principal will be 0 yen, so refund processing can not be performed. In this case, the profit for trading with the bonus grant will not be the principal. *The Terms and Conditions violation fee is set at $20 for each round trip.

Source: GEMFOREX Terms of Use

 

About No Spread Account

Although GEMFOREX is a no-spread account, it intentionally prohibits the use aiming only at the timing of spread 0.0 pips, and it is considered as the use only for the customer who can use it on average. In addition, as a rule of scalping with a no spread account, if there is a possibility of receiving continuous transactions with a total of 10 LOT or more in a short time (5 minutes as a guide), we will contact you in advance, so that we can get permission from you to cover on your behalf. If the transaction is continued without obtaining permission, the transaction may be suspended without notice from the cover destination, and there may be a deal cancel for the relevant transaction. If it is found, we consider it to be an act of trading deemed inappropriate by our judgment in the Terms of Use Article 12 (prohibitions of users), and we will consider it as an account suspension. In addition, although it does not become the treatment to there, it is judged as the turnover rate at the extreme margin rate, and it may be difficult to enter an order.

Source: GEMFOREX Guidelines

 

GEMFOREX's trading tools and apps

There are two types of trading tools: MT4 and Mirror Trading

MT4 is an unsurpassed high-performance tool adopted by many forex vendors, which allows discretionary trading and automatic trading by EA (Expert Adviser).

There is also a smartphone app, which is useful for trading on the go.

The specs are slightly different in each company, but please refer here.

For those using a Mac

MT4 is a Windows-only software, but GEMFOREX can download a Mac-only installer, so it can be used as a Mac application.

 

Mirror Trading is a strategy-based automated trading tool with no investment advisory fee or other cost, and it is a big advantage that all strategies can be used free of charge.

The name is similar, but the famous one is the platform called "Mirror Trader" developed by Israel's Tredence company.

Both EA and strategy are automatic trading programs, but rather, automatic trading using strategies is more suitable for beginners.

Mirror Trading also has a popular ranking, and the operation results of the strategy are also disclosed.

In addition, if the public is to develop a strategy to reverse, get the SP reward of 0.5 pips per trade of traders using the same, also Signal Provider program is very attractive.

The platform is a browser type and is used by logging in to My Page.

The flow of mirror trading as follows.

How to use mirror trade

Select a strategy from the list or ranking.

 

Register the selected strategy in My List and all you have to do is start/stop. You can combine multiple strategies to create a portfolio.

It is possible to see in detail for the features and performance of each strategy as below.

 

Assess the operation results, in the market situation Running the right strategy is the key to making a profit.

 

GEMFOREX customer support

Basically support is email only

Available Business hours
Email Weekdays 10:00~17:00
Others In some cases, phone and Skype support
Weekdays 10:00~17:00

Customer support is basically email, but its strength is that it allows us to provide flexible support by telephone, Skype, if you wish.

 

GEMFOREX's information service

No market information or seminars

GEMFOREX does not provide services that support trading, such as market information and seminars.

 

GEMFOREX Campaign Bonus

GEMFOREX is an active supplier to the campaign.

Because it is held irregularly by a method such as a limited time or a lottery, the prize mainly has many luxurious deposit bonuses, so if you use it well, you can significantly increase the amount of former funds.

(No spread account is not eligible for bonus)

¥10,000 account opening bonus

It is an account opening bonus for a limited time and no payment required.

By opening an account during the period, you can get a bonus of ¥10,000.

As it is a campaign that starts suddenly, those who are considering opening an account are required to check the official site.

 

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