OGM Broker-Overview of Minimum Deposit, Spreads & Leverage
Abstract：OGM Broker is an offshore broker offering online trading in currency pairs, as well as a series of CFDs on indices, precious metals on the leading MT4 trading platform.
General Information
OGM Broker is an offshore broker offering online trading in currency pairs, as well as a series of CFDs on indices, precious metals on the leading MT4 trading platform.
Regulation
OGM Broker is operated by OGM Broker Limited, a company registered in Vanuatu. This place is an offshore jurisdiction, where forex brokers there actually are not regulated, no matter what they claims no their websites.
Official Website Unavailable
Since the official website of OGM cannot be accessible at this stage, we can only pick up some useful information from some broker-reviewing websites to get a rough idea about this broker.
Market Instruments
Tradable financial instruments available on the OGM Broker platform include currencies, as well as CFDs on precious metals, indices.
Minimum Deposit
There are two trading accounts available on the OGM Broker platform: the Standard and the Premium accounts. The minimum initial deposit required by OGM Broker is absurdly high, and even a basic account, the standard accounts needs as high as $1000 to start real trading.
Micro Trade Size
Micro tradable lots are not available, so traders have to use either mini (0.1 lot) or standard (1 lot) ones.
Leverage
OGM Broker offers the leverage up to 1:200, which could satisfy even the most aggressive trading strategy. Leverage can magnify gains as well as risks, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads offered by OGM Broker is quite wide, amounting to 3 pips for the EUR/USD pair. While the most fixed-spread brokers provide spreads of 1.5 -2 pips for this pair.
Trading Platform Available
OGM Broker provides its traders with MT4 trading platform. This platform is equipped with many advanced charting tools, large number of technical analysis, supporting Expert Advisors. Although OGM Broker offers the leading MetaTrader platform, given the fact that it is unregulated, traders are not advised to trade on its platform.
Deposit & Withdrawal
OGM Broker allows its traders to fund their accounts through bank wire transfer, and credit/debit cards only. Some other popular online payment processor like Skrill and Neteller are not available. Note that for single deposit or withdrawals less than $100, the company charges a fee of $20.
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