Introducing the account types of GEMFOREX.
Each has its own characteristics, and depending on the type of trader, it may or may not be suitable.
GEMFOREX is forex broker company established by Japanese people and developing services mainly in Asia.
Also GEMFOREX accepts traders all over the world.
GEMFOREX always offers very gorgeous bonuses. Spreads are narrow and trading conditions are not bad.
GEMFOREX offers two account types.
- All-in-One account
- No spread account
In this article, after thoroughly comparing each account type based on specifications and trading conditions, I will clarify the characteristics and precautions for each account type and carefully explain which account is suitable for which type of trader.
- I want to know GEMFOREX account types.
- I want to know specifications and conditions of each account.
- I’m not sure which account type is the best for me.
GEMFOREX All Account Types
First, let’s compare the all account types offered by GEMFOREX.
The color of the part that seems to be a point has been changed.
Let’s take a quick look at what kind of specifications and conditions are different.
|Contract size||1 lot = 100,000||1 lot = 100,000|
|Min trade volume||0.01 lot||0.01 lot|
|Lot restriction per ticket||30 lots||30 lots|
|Max orders||30 positions||30 positions|
Characteristics of each account type
I will briefly explain the characteristics of each account type.
GEMFOREX All-in-One Account
GEMFOREX’s all-in-one account is the most standard level.
In other forex broker, it would be called “standard account”.
As a feature, it is 1000 times higher leverage, which is also the selling point of GEMFOREX.
Other trading conditions are very common.
Since it is an STP account, transaction fees are free.
In addition, the luxurious bonus that is a feature of GEMFOREX is also applicable.
If you get lost, I think it’s better to have an all-in-one account.
is recommended for traders like;
- Want to get GEMFOREX gorgeous bonuses
- Opening an account for the first time
GEMFOREX No Spread Account
GEMFOREX No Spread account, which is easy to misunderstand by name, is not ECN account.
Spreads also start from 0.0 pips, but not always zero.
However, spreads are usually very narrow and are not ECN accounts, so transaction fees are free.
Looking at this alone, the conditions look much better than an All-in-One account, but there are some conditions.
First, you cannot get any bonus. Both the account opening bonus and the deposit bonus are not applicable.
Also, EA is not available.
GEMFOREX offers its own EA, but if you want to use them you have to choose All-in-One account instead of a No Spread account.
In addition, the minimum deposit amount for No Spread account is $3000.
Spreads are very narrow and you can trade at low cost, so if you can meet these conditions, it is worth choosing No Spread account.
is recommended for traders like;
- Don’t need bonuses. Want to focus on trading.
- High level trader
Common Conditions of All Account Types
In addition, I will introduce the specifications that are common to all account types.
GEMFOREX Trading Platform
GEMFOREX allows to use only MT4.
MT5 is not acceptable.
GEMFOREX Stop Out Level
Stop out level is 20%.
And margin call is 50%.
GEMFOREX Negative Balance Protection System
Of course, NBP applies to all accounts.
Does GEMFOREX allow to use EA (Expert Advisor) tool?
Yes, you can use any EA on GEMFORX, but only All-in-One account allows to use EA.
If you want to use EA, choose All-in-One account.
Does GEMFOREX allow scalping trading?
GEMFOREX does not prohibit scalping trading.
However, the stop level is rather wide.
For example, EURUSD is 2.0 pips.
GEMFOREX is not suitable for scalping.
The GEMFOREX stop level is summarized in detail in the separate article “GEMFOREX Stop Level | Conditions for Scalping, Stop/Limit Orders“, so please refer to that as well.
The most recommended account in GEMFOREX is “All-in-One Account”
If you get lost, it’s a good idea to open an all-in-one account.
After all, you can get an account opening bonus, and GEMFOREX sometimes offer a campaign to get an account opening bonus of up to $300 for a limited time, so it is recommended to open All-in-One account first and start trading without risk.
In addition, GEMFOREX allows you to create up to 4 additional accounts.
You can choose a different account type for the additional account, so you can create No Spread account later if you want.
How was that?
If you haven’t opened GEMFOREX account yet, please open an account by referring to the separate article “How to open GEMFOREX account“.
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