GemForex Review 2024

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Written By
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Written By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Fact Checked By
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Fact Checked By
Tobias Robinson
Tobias is a partner at, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

2.3 / 5
GemForex is #109 in our CFD broker rankings.

GemForex is a Japanese CFD and forex broker offering a curated selection of trading products.

MT4, MT5
Forex, Commodities
1000% Deposit Bonus Jackpot
UnionPay, Perfect Money, Sticpay, Credit Card, Debit Card, PayPal, Bitwallet

Forex Trading

GemForex offers 33 currency pairs, including majors, minors and exotics.

Stock Trading

Trade on major stock exchanges including the FTSE, DAX and NASDAQ.

CFD Trading

Trade leveraged CFDs on indices and commodities.

Copy Trading

GemForex offers a free forex mirror trading tool that operates without the need for VPS.


  • Best Broker 2020 - Awards
  • Best Broker 2019 - Awards
  • Best Broker 2018 - Awards
  • Best MT4 Broker 2017 - Awards
  • Best Forex Trade Copy Service 2017 - Awards
  • Best Asia FX Broker 2016 - Awards

GemForex is a Japanese online forex and CFD broker offering trading via MetaTrader 4 (MT4) and MetaTrader 5 (MT5). In this broker review, we cover regulation, leverage, bonus opportunities, automated trading tools and more.

Note, this review will not cover the similarly named GemFX trading broker.

GemForex Headlines

GemForex was established in 2010 by a group of Japanese traders. Originally named GemTrade, the company launched the first-ever free automated trading software (AKA EA) offered to Japanese investors. In 2014, the broker was renamed GemForex, a brand name owned by Gem Group Holdings LTD.

The group is licensed under Lindholm Capital Ltd and regulated by the Mauritius Financial Services Commission (FSC).

GemForex aims to provide a simple service for forex beginners worldwide. In fact, the firm has been recognised for several awards, including the Best Asian Broker Award in 2016 for its deposit/withdrawal speed, support and service. Further awards include the Best MT4 Broker and the Best Overall Broker between 2017 and 2020.

Trading Platforms

GemForex offers investors the option to trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) terminals. These established, globally-recognised platforms are suitable for all levels, including beginners.

When comparing GemForex vs competitor brokers, such as XM, the firm offers the same trading charts, graphs and technical indicators. To get started, clients can either download the platform to their PC or Mac, or trade via all major browsers using the WebTrader platform.

GemForex does not offer a proprietary platform. However, since MT4 and MT5 are the platforms of choice for many traders, this is not a disadvantage.

Below, we’ve outlined the most popular functionality.

MetaTrader 4

MetaTrader 5

GemForex gold MT4
MetaTrader 4

The broker’s website provides download links for both trading platforms.


GemForex offers a curated selection of global instruments for retail clients:

Spreads & Fees

At GemForex, costs vary by account type. The All-In-One Account offers spreads from 1.3 pips on major FX pairs. These are variable, but a representative sample showed average spreads of around 1.4 pips for EUR/USD, 1.3 pips on the USD/JPY pair and 1.5 pips on the GBP/JPY pair, respectively. These are competitive, however, some minor and exotic pair prices are higher than other brokers.

For accurate daily spreads that correlate with market conditions, visit the GemForex website. Traders should note that swap charges apply for any positions held overnight. Inactivity charges do not apply.

For traders looking to steer away from spreads, we’d recommend choosing the No Spread Account, which features a low rate on all instruments. However, please note that this will result in a higher commission charge.


The maximum leverage available to retail traders will depend on a variety of factors, including your account balance and chosen financial products. As a broker regulated by an offshore authority, GemForex can offer substantial margin opportunities as it is not subject to the same strict rules that European brokers are, for example. We’ve outlined the leverage available below:

Note, this varies for CFD instruments. For global index investments, the maximum leverage is 1:100, except for on the Nikkei 225, which is offered at 1:200.

Before investing capital, traders should note that opening highly leveraged positions can amplify losses if the market does not move in your favour. For this reason, it’s crucial to utilise risk management strategies.

To protect retail traders from losing more than their deposit amount, if the margin retention rate falls below 20%, an automatic loss cut system is enforced.

Mobile Trading

MT4 and MT5 are both available as mobile applications. GemForex traders can download the apps to iOS and Android devices directly from the broker’s website or via the relevant app store.

Access to the same tools, features and functionality found on the WebTrader and desktop PC terminals is available. You can manage your account, open and close positions, check live pricing and view charts while on the go. A basic YouTube tutorial is embedded with useful MT4 navigation tips on the iPhone app.

GemForex mobile app
MT4 App



At GemForex, minimum deposit requirements vary by account type and payment method. The No Spread account requires an initial $3000 funding to start trading and the All-In-One Account requires just $1.

GemForex offers many deposit options that all feature instant processing, with USD or JPY currencies accepted. Available payment methods will vary by country of residency but include:

GemForex does not charge a deposit fee for any payment methods, however, third-party charges may apply. To get started, select the deposit icon from the menu in your account portal and then your chosen payment method.


Withdrawals can be made via bank wire transfer, e-wallet or cryptocurrency wallets only. A minimum $1 withdrawal limit applies for these payment methods. GemForex does not charge a fee for the first withdrawal each month, however, subsequent fund removals are charged at 2%.

Note that if funds are withdrawn from an account with no trades placed, a fee of 4500 yen is applicable. Traders should allow 3-5 business days for funds to be returned via bank wire transfers. E-wallet and crypto withdrawals are typically completed within three days.

Demo Account

A free demo account is available to all new GemForex clients on the MT4 terminal. Traders just need to fill out a simple online registration form to get started. Once complete, traders can access up to $100,000 in virtual funds to practise risk-free and learn platform features and tools.

The account features real-time trading conditions, and functionality is replicated to match the All-In-One Account, including the ability to utilise leverage up to 1:1000, three order types, and support for hedging strategies.

Deals & Promotions

GemForex offers a variety of deals and promotions which change on a regular basis. At the time of writing, the broker offers a 1000% deposit bonus jackpot campaign. This daily lottery-style competition offers the chance to win up to 1000% of your deposit.

However, before engaging with any promotion, it’s vital that traders review the terms and conditions, particularly with a no deposit or welcome bonus where minimum trading thresholds may apply. Unlike European and Australian regulators which prevent the provision of sign up incentives, the FSC does not impose such restrictions. Therefore, traders should take it upon themselves to verify the quality of the deal on offer.

GemForex Regulation

GemForex is the trading name operated by Lindholm Capital Ltd. The broker is licensed and regulated by the Mauritius Financial Services Commission (FSC) which monitors and supervises the conduct of business activities in the non-banking financial services sector.

The authorisation operates in line with the internationally recognised legal framework, therefore some guidelines imposed by established bodies, such as CySEC, are applied. We see this with negative balance protection and the segregation of client funds from the business, which protects traders’ accounts in the case of broker insolvency.

Although some form of regulation is useful, the offshore license does not offer the same level of customer confidence as those regulated by the Financial Conduct Authority (FCA), for example.

Additional Features

GemForex does not offer the same level of educational resources provided by some of the larger brokers in the industry. In particular, the broker is lacking in standard training materials, such as a keyword glossary, an FX trading step-by-step guide, or in-depth platform tutorials. These are particularly useful for new traders, so beginners will be disappointed with the offering. Plus, there are none of the standard tools, such as an economic calendar or trading calculator on the website. This would be beneficial to stay up-to-date with market events and calculate margin, swaps, plus profit and loss.

Despite this, GemForex offers unlimited EA services to all retail clients via ‘Gem Trade’ – the first free EA service operating from Japan. You can view popular Expert Advisors based on download or performance ranking, or read the details of each bot to find the best one for your trading style.

Investors can also use a free forex mirror trading tool, ideal for new or inexperienced traders. The innovative feature operates automatically with no VPS requirements, simply pick up a professional trader’s or EA’s strategy and apply it directly to your personal trades.

Account Types

GemForex offers two account types to retail clients; the All-In-One Account (forex and CFD trading) and the No Spread Account (forex only). The No Spread account requires a minimum deposit of $3000 and the All-In-One Account requires $1. Both accounts can be opened in USD or JPY base currencies only.

All-In-One Account

 No Spread Account

It is quick and easy to sign up and open a new live trading account. Traders must complete the online registration form and adhere to the Anti-Money Laundering (AML) and Know Your Customer (KYC) checks by uploading identity documentation, such as a passport and proof of residency. Once your details have been approved, you can start trading immediately.


Pros of trading with GemForex include:


Downsides to registering for a GemForex account include:

Trading Hours

The GemForex trading hours are Sunday 9 PM GMT to Friday GMT 9 PM, however, these may vary by instrument. Typically the forex market is available to trade 24 hours per day between Sunday to Friday.

A session timetable is available on the broker’s website to stay up to date with upcoming public holidays, daily break sessions and market closures.

Customer Support

GemForex offers several customer contact options, including telephone support, an online contact form and a headquarters office address. These are open 10 AM to 5 PM weekdays (GMT +9).

Additionally, traders are directed to an FAQ page that is organised into self-help topics, such as MT4 error message support, installing APIs and understanding ECN pricing. Social media accounts including Twitter are refreshed with the latest broker news and responses to customer queries.


GemForex traders should feel assured that the primary trading platforms, MT4 and MT5, follow comprehensive safety protocols. Personal and financial data is encrypted between the broker and the terminal, and crucially, two-factor authentication (2FA) can be added to platform accounts. This added layer of security uses a verification code every time you login to your online account via an authenticator app or email address prompt.

GemForex Verdict

Our GemForex broker review has highlighted some of the pros and cons. We were pleased with the free deposit options, demo account and access to the industry-established MT4 and MT5 terminals. However, instruments are limited, so the broker may not be suitable for investors wanting to create a diversified portfolio. We would also advise caution when depositing funds with an overseas broker. Regulatory protection may not be as robust and your capital could be at risk.


What Deposit Options Does GemForex Offer?

GemForex offers several free deposit options, including PayPal, Sticpay, Skrill and Neteller. Major credit and debit card payments are also accepted, such as Amex and VISA.

What Trading Instruments Does GemForex Offer?

GemForex is a CFD and forex trading broker offering a narrow range of tradable instruments. In particular, indices and energy CFDs, such as Brent Oil, are available and the currency pairs on offer include USD/JPY, ZAR/JPY and AUD/NZD. However, compared to other brokers in the industry, the selection is limited. For example, there are no precious metals such as Gold or Silver.

Is GemForex Safe?

GemForex provides a safe trading environment. In particular, the provision of negative balance protection and integrated security protocols on the trading platforms are great to see. Despite this, we’d always recommend exercising caution when depositing with brokers regulated overseas, as they may not provide the same levels of protection as top-tier authorities. It is always worth viewing peer reviews before opening a live account.

Does GemForex Offer A No Deposit Bonus?

Occasionally, GemForex offers financial incentives to new and existing traders. Previous promotions include a $200 no deposit bonus, subject to minimum threshold requirements.

What Trading Platforms Does GemForex Offer?

GemForex offers retail clients the option of trading on the MetaTrader 4 and MetaTrader 5 terminals.

Top 3 Alternatives to GemForex

Compare GemForex with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

    Forex trading involves risk. Losses can exceed deposits.
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

GemForex Comparison Table

Compare GemForex With Similar Brokers
GemForex IG Interactive Brokers World Forex
Rating 2.3 4.4 4.3 4
Markets Forex, Commodities CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $1 $0 $0 $1
Minimum Trade $0 0.01 Lots $100 0.01 Lots
Bonus 1000% Deposit Bonus Jackpot 100% Deposit Bonus
Education No Yes Yes No
Platforms MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:1000 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 7 6 6 10
Visit Visit Visit Visit
Review IG
Interactive Brokers
World Forex

Compare Trading Instruments

Compare the markets and instruments offered by GemForex and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare GemForex Trading Instruments
GemForex IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes No Yes
Gold No Yes Yes Yes
Copper No Yes No No
Silver No Yes No Yes
Corn No No No No
Crypto No Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

GemForex vs Other Brokers

Compare GemForex with any other broker by selecting the other broker below.


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GemForex is a Japanese CFD and forex broker offering a curated selection of trading products.