Desk file · 2026 edition · record confidence: medium
FXGM
We opened the file on FXGM the way we open every file: register first, marketing never. Trading since 2011, run out of Nicosia, Cyprus (per company profile; Limassol not excluded - both reported), and carrying 1 licence entry on the public record, 0 of them tier-1.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | not verified |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | not verified |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $not verified |
Spread basis. . Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| CySEC | 161/11 | Cyprus | T2 | Depaho Ltd | cysec.gov.cy |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- FXGM is a brand of Cypriot investment firm Depaho Ltd, incorporated in 2011, which also operated the TradeApp and GTCM brands.
- CySEC suspended Depaho Ltd's CIF licence (number 161/11) on 9 July 2021, extended the suspension twice (announcements of 28.7.2021, 10.9.2021 and 22.10.2021), and at its meeting of 2 November 2021 decided to recall the suspension after being satisfied the company had become compliant.
- Poland's KNF includes Depaho Ltd (Nicosia, operating in Poland as FXGM, pl.fxgm.com) on its list of public warnings; the entry notes the entity is not registered in Poland and cites a prosecution notification under Article 178 in conjunction with Article 69(2)(5) of the Polish Act on Trading in Financial Instruments.
- Directory WikiFX lists additional registrations for Depaho Ltd (BaFin 130520, FCA 593528, FSCA 47709, CNMV 3321, CONSOB 3567); these numbers were not re-verified against primary sources in this run and are not adopted here.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- legalEntities: the briefed 'CySEC 199/13' is not supported by any source found; verified number is 161/11 (CySEC decision + full notice text)
- FSCA FSP number for Depaho not verified (task instruction) - fxgm.com and fxgm.co.za blocked to fetchers
- minDeposit: not verified
- maxLeverage: not verified
- spreadEurusd: not verified
- accountTypes: not verified
- segregatedFunds / negativeBalanceProtection: not verified
- publiclyListed: not verified
- current CySEC register status of Depaho Ltd after the 2021 recall not verified (CySEC pages bot-blocked)
| Founded | 2011 |
| Head office | Nicosia, Cyprus (per company profile; Limassol not excluded - both reported) |
| Minimum deposit | not verified |
| Leverage cap | |
| EUR/USD | not verified pips |
| Tier-1 entries | 0 |
| Record confidence | medium |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.