Independent rating of Forex broker Depaho

Security of funds

Depaho Ltd is a Cypriot investment firm, which operates in the global financial market under the following brand names: GTCM, FXGM, and TRADEAPP.

The main regulator of the holding is the Cyprus Securities and Exchange Commission. Since the company is authorized to provide cross-border services to EU member states, Switzerland, Ukraine, and South Africa, it is registered and licensed by a number of various regulatory authorities. Among them are MiFID, FCA, FSCA, AMF, CONSOB, CNMV, FI, KNF, BaFin, and others. The list can be found on the broker’s website.

Over the years of its operation in the market, Depaho’s credibility has been called into question only once. In autumn 2020, it became known that CySEC had fined the company €270,000. The investigation conducted in 2018-2019 revealed some violations of the regulator's requirements (the obligation to execute orders on the terms that are more beneficial to clients; authorization, conflict of interest, the principle of informing clients, etc.).

Trading conditions

Under its license, Depaho Ltd has the right to accept and execute customer orders, manage financial instruments, provide loans for performing certain financial transactions, exchange currencies, as well as conduct investment research and financial analysis.

Depaho’s subsidiary brokers offer the widest range of financial instruments: currency pairs, commodities, futures, and stocks.

The minimum deposit at TRADEAPP is just €29. To get exclusive access to all FXGM services, traders need to deposit at least $10,000. The owners of such VIP accounts are provided with a personal manager, leverage up to 1:200, free training materials, and other useful services.

Promotions and bonuses

We did not find any information about current promotions and bonuses on the company’s website.

Training

Depaho Ltd provides its clients with the opportunity to open a demo account as well as to use training materials through its subsidiary brokers. The website of the parent company does not feature any training information.

Support service

The company is headquartered in Nicosia, Cyprus. Traders can contact the support team by phone or email. Besides, they can ask a question using a special form on Depaho’s website.

Traders’ reviews

Clients complain that sometimes they have to wait long for responses from the support team. In addition, they note that withdrawals can be delayed (obviously, this is about the company’s subsidiary brokers).

Advantages and disadvantages

The fact that Depaho Ltd offers its services in various countries and its activity is regulated in these regions can be attributed to the company’s advantages.

Among the disadvantages of Depaho Ltd, there are long withdrawals of funds. Apart from that, it is rather difficult for retail customers to contact the parent company directly.