GPM Broker Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- SaxoTraderGO
- GPM Online
- TWS (Trader Workstation) by Interactive Brokers
- eTrading by Swissquote
- CNMV
- 2021
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- SaxoTraderGO
- GPM Online
- TWS (Trader Workstation) by Interactive Brokers
- eTrading by Swissquote
- CNMV
- 2021
Our Evaluation of GPM Broker
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
GPM Broker is a broker with higher-than-average risk and the TU Overall Score of 3.05 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by GPM Broker clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
GPM Broker is a company regulated in Spain that offers proprietary investment services and active trading on third-party platforms such as TWS (Trader Workstation) by Interactive Brokers, SaxoTraderGO (Saxo Bank), and eTrading (Swissquote).
Brief Look at GPM Broker
GPM Broker is a Spanish stock broker that has been on the market since 1987. In 1990, it was registered by CNMV (Comisión Nacional del Mercado de Valores) and FOGAIN (Fondo General de Garantía de Inversiones). The company is an introducing broker (IB) of Saxo Bank, Interactive Brokers, and Swissquote which are internationally regulated companies, and therefore it offers trading platforms of these brokers. GPM Broker focuses on asset management services provided using model portfolios and investment funds, including companies with variable capital SICAV (Société d'investissement à Capital Variable). The broker’s head office is located in Madrid, however, it also has offices in Barcelona and other major Spanish cities.
- FOGAIN compensation to retail brokers from Spain in the amount of up to €100,000;
- Huge range of available markets — up to 100,000 assets subject to the trading platform;
- The broker is supervised by CNMV, the Spanish national regulator;
- Four account types each with unique trading conditions;
- Over 40 ready-made asset portfolios differentiated by risk level and initial investments;
- Access to 50+ stock exchanges in the U.S., Europe, and Asia;
- Offices where traders can get personal advice on investment products are located throughout Spain.
- No education on the broker’s official website;
- GPM Broker withholds intermediary fees for providing trading on partner platforms;
- High fees for U.S. stocks and ETFs.
TU Expert Advice
Financial expert and analyst at Traders Union
GPM Broker offers a wide choice of trading platforms and financial instruments, as well as access to the world’s major exchanges. Traders and investors can work with 100,000 assets and 40 management models with minimum initial deposit requirements. The broker provides market data and its experts help investors to choose a ready-made portfolio. However, GPM Broker doesn’t offer trading and investment education.
The company has been an intermediary in financial markets for over 30 years. It offers trading fund assets with dividend payments and CFDs. Liquidity is provided by major companies that are the broker’s partners under the IB program. This ensures execution at the best prices accumulated from many sources.
All GPM Broker’s trading fees are available on its website and in the documents provided there. The company declares rewards from Interactive Brokers, Saxo Bank, and Swissquote, received for expanding their client base and increasing the total trading volume. The broker’s disadvantages are high fees and the limited choice of payment systems. Currently, only bank transfers are available for deposits and withdrawals.
GPM Broker Summary
| 💻 Trading platform: | GPM Online, TWS (Trader Workstation) by Interactive Brokers, eTrading by Swissquote, and SaxoTraderGO by Saxo Bank |
|---|---|
| 📊 Accounts: | Demo, GPM Professional Broker, GPM SV, GPM Swissquote, and GPM Trader |
| 💰 Account currency: | USD, EUR, GBP, and other currencies |
| 💵 Replenishment / Withdrawal: | Wire transfer |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: |
Up to 1:40 for retail clients Up to 1:200 for professional clients |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Spread: | From €1.1/$1.2 |
| 🔧 Instruments: | Stocks, futures, options, warrants, ETFs, CFDs, Forex, fixed-income instruments (REPOs and bonds), mutual and investment funds, and asset portfolios |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | JPMorgan, Barclays, Citibank, UBS, Interactive Brokers, Swissquote, and Saxo Bank |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | Additional fees for trading on SaxoTraderGO, TWS, and eTrader |
| 🎁 Contests and bonuses: | No |
The range of trading instruments differs, since the broker offers four trading platforms, and three of them are developments of third-party companies. You can start trading with any amount, however, regional peculiarities can apply. For example, if UK traders want to start trading on the eTrading platform offered by Swissquote, they must deposit $1,000. Residents of Spain can deposit an amount sufficient to buy assets and to pay brokerage fees. The minimum investment amount for them is €0-€5,000 and is subject to the chosen portfolio type and the requirements of the fund.
GPM Broker Key Parameters Evaluation
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Trading Account Opening
To start trading on any of the broker’s account types, create a user account on its official website. Below are a few instructions on how to register:
Click the “Abrir cuenta” button at the top of the screen.
To open a registration form, click the “Apertura de Cuenta” button.
In the form, provide your personal information, choose the account type and trading instruments, and create a username and password.
Confirm your email and sign into your user account entering your username and password. Next, complete your profile, link your bank account, upload your documents, and sign the agreement. Deposit funds only after you receive confirmation that the company has approved your registration.
Regulation and safety
Gestión de Patrimonios Mobiliarios manages the GPM Broker brand and is registered with CNMV under number 105. CNMV is a state regulator of Spain with its own FOGAIN compensation fund.
All brokers regulated by CNMV participate in the FOGAIN scheme, which ensures the protection of investor capital and portfolio from fraud and wrongful acts on behalf of the broker. If GPM Broker stops fulfilling its payment obligations, FOGAIN refunds traders' investments of up to €100,000 per investor.
Advantages
- GPM Broker doesn’t delay withdrawals and doesn’t block its clients’ accounts
- Investor funds and securities are held in segregated bank accounts and depositaries
- The broker has been regulated by CNMV since 1990
Disadvantages
- FOGAIN doesn’t apply to professional traders
- Complicated procedure of account opening
- FOGAIN compensation is paid only upon confirmation of the broker’s wrongful acts by a court or the regulator
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| GPM Professional Broker | $2 | Charged by banks |
| GPM SV | $1.1 | Charged by banks |
| GPM Swissquote | $5 | Charged by banks |
| GPM Trader | $3 or $6 subject to the strategy | Charged by banks |
Clients pay for services of the depositories that hold their securities up to their actual redemption, sale, or transfer to another broker. The fee is 5%-20%, but not less than $300 a year. The table below shows the average fees of GPM Broker, RoboForex, and Pocket Option.
| Broker | Average commission | Level |
|---|---|---|
|
$3.2 | |
|
$1 | |
|
$8.5 |
Account types
Traders can open accounts with GPM Broker in any of its offices, by phone, or online. Upon confirmation of personal and payment data, choose the platform on which you want to create an account. If you are going to use the platform offered by another company, open the account with this company as well, since GPM Broker is an IB in this case, that is, an intermediary between a trader and the executive broker.
Account types:
GPM Broker offers a demo account for training and exploring the platform’s features and trading conditions of the broker.
The broker divides its clients into Minoristas and Profesionales, which influences the trading conditions and the range of available markets.
Deposit and Withdrawal
The broker withdraws funds only to its clients’ personal bank account specified in the user account;
Withdrawal conditions are not provided on the GPM Broker website.
Investment Options
GPM Broker offers numerous investment solutions for both traders with minimal free funds and no experience and large investors whose primary income source is the stock market. The broker focuses on active capital management, participates in collective investment schemes, and provides access to investment funds.
Capital management models for GPM Broker’s clients
The broker offers over 40 ready-made portfolios built by expert investors. They differ in asset choice, fees, and initial investment requirements. Potential investors can choose the management model or pass a test by which the algorithm evaluates their goals and tasks and offers a suitable portfolio. Popular discretionary management models offered by GPM Broker are:
Gestión fondos cartera. This is a conservative model with expected profitability of 3%, 6%, or 8% per annum subject to the risk level. The higher the risk is, the higher the potential profits are. Portfolios are built of underlying assets and don’t include derivatives with leverage, which decreases the total risks. The minimum investment is €10,000. The management fee is 1.5% of the invested capital. The depositary of securities and monetary funds is Banco Inversis SA.
Alcral Protects & Grow Wealth. This is a portfolio with a minimum initial investment of €5,000. It refers to long-term portfolios of 5 years or more. Investments and securities are deposited in Banco Inversis. The annual management fee is 1.5% of the portfolio value. The expected profitability is 8%.
Relay Race 3. This is a strategy with very high risks and an expected profitability of 30%-40% per annum. Managers mainly open long positions on U.S. stocks of small capitalization and adjust the drawdown with futures on U.S. indices, such as Russel 2,000. The management fee is 1% of the portfolio value. The minimum investment is €100,000. Funds and assets are held with Interactive Brokers.
Also, GPM Broker offers the SICAV collective investment scheme and investment funds. Investors get access to portfolios that include fixed-income instruments, such as bonds and repurchase agreements (REPOs), futures, and stocks in the U.S. and Europe. The minimum investment is €1-€10 subject to the requirements of the servicing company.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership programs from GPM Broker:
GPM Broker’s clients don’t receive rewards for attracting other traders and investors. However, they can receive additional income from partnership programs offered by Interactive Brokers, Swissquote, and Saxo Bank. Conditions of these programs are available on the websites of the above companies.
Customer support
Traders can contact technical support from 9:00 to 18:00 (GMT+1) Monday through Friday.
Advantages
- Support is available by phone and email
Disadvantages
- No live chat on the broker’s website
- Support isn’t available 24/7
To communicate with technical support, traders can use these channels:
Telephone;
Email;
Feedback form in the Contact section.
For a personal consultation, visit one of the company’s offices.
Contacts
| Foundation date | 2021 |
|---|---|
| Registration address | Calle de Montesa 38 (Pasaje Martí) Local 1, 28006 Madrid, Spain |
| Regulation | CNMV |
| Official site | https://gpmsv.com/gpmbroker/ |
| Contacts |
+34 91 319 16 84
|
Education
GPM Broker doesn’t provide trading and investment education. The company helps traders to choose investment products only upon opening accounts and confirmation of their personal data and bank details.
Novice traders can use a demo account to learn how to trade in financial markets. The deposit is virtual, therefore traders can neither lose money nor receive real income.
Comparison of GPM Broker with other Brokers
| GPM Broker | RoboForex | Pocket Option | Exness | FBS | IC Markets | |
| Trading platform |
eTrading by Swissquote, GPM Online, SaxoTraderGO, TWS (Trader Workstation) by Interactive Brokers | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading | MT4, cTrader, MT5, TradingView |
| Min deposit | $1 | $10 | $5 | $10 | $1 | $200 |
| Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 1.1 point | From 0 points | From 1.2 point | From 1 point | From 0.2 points | From 0 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 40% / 20% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | $5 | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Detailed review of GPM Broker
GPM Broker focuses on intermediary services and financial asset management. It acts as the introducing broker for Interactive Brokers, Swissquote, and Saxo Bank. Management of investor capital is the company’s main activity. Qualified experts can offer different investment solutions to both individual and corporate clients.
GPM Broker by the numbers:
35+ years of brokerage and investment activities;
Over 3,000 investors who trust their capital to the company;
10,500+ active clients;
More than 50 employees in offices across Spain;
40+ ready-made portfolios with different initial investment requirements and risk levels.
GPM Broker is a stock broker that provides access to trading on exchanges in 22 countries
GPM Broker is a member of two major stock exchanges of Spain — Bolsa de Barcelona (BCN) and Bolsa de Madrid (BM). It is also listed on Latibex, the stock market for Latin American securities, and Mercado Alternativo Bursátil (MAB). The broker’s clients can trade on over 50 global exchanges, including NYSE, Euronext, CME Group, and Deutsche Börse. Liquidity is provided by many tier 1 banks, prime brokers, and MTF (Multilateral Trading Facility) and ECN (Electronic Communication Network) networks.
The broker offers a huge range of trading platforms designed for both active trading of underlying assets and derivatives, and for investment, including long-term. Web, mobile, and desktop versions of different platforms are available. All of them are provided free of charge, but there is a fee for market data provided by third-party analytical resources.
Useful services offered by GPM Broker:
SMARTRouting. This is a special algorithm of the TWS platform that compares quotes from different liquidity providers (ECN and MTF) and offers the best price.
Trading signals provided by Javier Bernat. These are intended for investors focused on long-term strategies. Recommendations to buy, sell, or hold securities are available within 12 months.
Market analysis. The GPM Broker website regularly provides the latest news and activity reports of the most important global companies. Also, investors can subscribe to newsletters sent by email.
Demo modes of trading platforms. Trading platforms offered by the broker’s partners can be used for trading with a virtual deposit.
Advantages:
Real-time quotes, advanced charts, and extended order types;
Trading stocks, futures, options, and fixed-income instruments are available;
Technical and fundamental analyses on the platforms;
Platforms with option chain support;
Discretionary portfolio management and other investment options.
The broker offers access to multi-functional trading platforms that support over 50 order types, algorithmic trading, and direct trading from the chart.
User Satisfaction