About the company
The corporation was established in 2010 by a group of Japanese traders as the world’s first free automated trading program for Japanese investors and was originally known as Gemtrade. The firm was rebranded GemForex in 2014. The Mauritius Financial Services Commission licenses and regulates the broker. Negative balance protection and the separation of client funds from business secure investors’ accounts in the case of a firm’s collapse. Forex 33 currencies, Energy, and Index CFDs are available to trade with. Users can experiment and examine the system’s features and capabilities using up to $100,000 in simulated money. The profile includes real-time trade patterns and similar functions to an All-In-One account, such as the ability to leverage up to 1:1000, three order types, and hedging strategy compliance.
The system provides access to nine timeframes, fully customizable charts, and four types of pending orders.
- 12 timeframes
- Six types of pending orders
- 80+ objects of technical analysis
- Multi-threaded strategy tester
- MQL5 language for programming strategies
Mobile apps for MT4 and MT5 are available. Clients can install GemForex apps for iOS and Android smartphones directly from the broker’s website or from the app store of their choice.
Spreads and fees
On major currency pairs, the All-In-One account offers spreads as low as 1.3 pips. They fluctuate, but an average spread of 1.4 pips for the EUR/USD pair, 1.3 pips for the USD/JPY pair, and 1.5 pips for the GBP/JPY pair was found in a representative sample. We propose choosing a no-spread account with a low rate across all instruments for traders who want to avoid spreads.
Individual investors’ maximal leverage is determined by a number of criteria, including their account balance and the financial products they choose. GemForex can offer large margin chances as an offshore registered broker because it is not subject to the same tight requirements as, say, European brokers.
Leverage up to 1:1000 if your current balance is less than 2 million yen ($20,000).
Over 2 million yen ($20,000) in your account – up to 1:500 leverage
Please keep in mind that this is dependent on the CFD instruments used. The maximal leverage for worldwide indexes is 1:100, except for the Nikkei 225, which is provided at 1:200.
While the All-In-One account only requires $1 as the first deposit, for the No Spread account it is $3,000.
Payment methods include:
- Payeer – only in US dollars, the minimum deposit amount is 100 US dollars.
- Credit/Debit Cards – JPY only, minimum deposit 5000 JPY
- Sticpay – currency JPY or USD, the minimum deposit amount is 5000 JPY / 50 US dollars.
- PayPal – currency JPY or USD, minimum deposit 10,000 JPY/$100 USD
- UnionPay – CNY currency only, minimum deposit amount 500 CNY
- Perfect Money – only in US dollars, the minimum deposit amount is 100 US dollars.
- Cryptocurrency – including bitcoin, bitcoin and ethereum, minimum deposit amount 0.01 BTC / 0.1 ETH
- Electronic wallets, including Skrill and Neteller – in JPY or USD currency, the minimum deposit amount is 5000 JPY/50 USD.
Payouts are only available via bank transfer, e-wallet, or crypto wallet, and there is a $1.00 minimal payout barrier. The company does not charge a commission for the first withdrawal of funds each month; however, subsequent withdrawals are subject to a 2% commission. A fee of 4,500 yen will be levied if money is removed from the account without making any operations. Customers should expect 3-5 business days for money transfer returns. Withdrawals to e-wallets and cryptocurrencies normally take 3 days to execute.
All commercial customers will receive limitless EA services from the company. You can sort famous EAs by downloads or performance ratings, or study thorough descriptions of each robot to pick the one that best suits your trading strategy. Free forex mirrored trade is also available to clients, which is ideal for new or inexperienced traders. The novel function operates without the use of a virtual private server (VPS).