GMI – what we know and have as facts about it; This is a brand of two companies: GMI VN is a trading name of Global Market Index Limited, which is authorized and regulated by the VFSC under license number 14646; GMI UK is the trading name of Global Market Index Limited, which is authorized regulated by the Financial Conduct Authority (FCA) under reference number 677530.These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Best Execution Policy document that GMI UK transmits each order for execution to its liquidity providers, which are CFH Clearing, LMAX and GMI VN. This means that GMI UK acts as an STP broker hedging every client’s order. However, one of the companies in the execution venue is GMI VN – the sister company in Vanuatu. This means that GMI VN is a market maker that sets prices and executes orders for GMI UK. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit
So far, we have not received any complaints from customers of GMI. If you have any criticism to share with us or feel annoyed by GMI, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and GMI if you wish.
I think GMI is a market maker Forex broker…The company itself does not have any hedge favorable to its clients…I actually experience it with my trader way back last January earliest this year concerning the market at the tine wherein GMI contested that there was irregularity along with the market…What happened actually was our money that we deposited in this company (GMI) got watered because of their contention that there was such irregularity in the market at that time…imagine our money that we trade at that time is 17800$ that they allowed it to get watered…the rationale behind when a broker is market maker they will gain at the loss of the the traders’ money…thus, for me, GMI is not legit…