About GWG
Company Overview
GWG (Cyprus) Ltd, operating under the domain gwglobalfx.com, is a Cyprus Investment Firm (CIF) headquartered in Nicosia. The company was registered on 18 December 2018 and holds a Cyprus registration number HE342580.
According to regulatory records, GWG is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 291/16 since 2016. This places the broker under the oversight of a well-known European regulator, which imposes capital adequacy, client fund segregation, and reporting requirements.
Regulatory Status
The CySEC licence listed for GWG is a Forex Execution Licence (STP), though its current status is not specified in our records. The licence number 291/16 has been in place since 2016, which predates the company's registration date of 2018; this discrepancy may warrant further clarification.
As a CySEC-regulated entity, GWG is subject to the European Securities and Markets Authority (ESMA) rules, including leverage caps and negative balance protection for retail clients. However, the broker offers a Professional account with higher leverage, which requires clients to meet specific eligibility criteria.
Account Types and Minimum Deposits
GWG offers five distinct account tiers aimed at different trader profiles. The Standard account requires a minimum deposit of $100 and offers leverage up to 1:30, typical for retail clients under ESMA rules. The Gold ($1,000 minimum, 1:30 leverage) and Pro ($3,000 minimum, 1:30 leverage) accounts provide additional features, though specific details are not available.
The VIP account requires a $5,000 minimum deposit with 1:30 leverage, while the Professional account demands $10,000 and offers leverage up to 1:200. The higher leverage on the Professional account suggests it is available only to eligible counterparties who meet the regulatory criteria for professional client status.
Liquidity and Partnerships
GWG states it has partnered with LMAX, a prominent institutional liquidity provider. This arrangement is intended to offer competitive pricing and deep liquidity for the broker's clients.
However, as of the time of this review, the official website gwglobalfx.com is listed as being for sale, which raises questions about the broker's current operational status. Traders should exercise caution and verify whether the company is still actively accepting clients.
Product Range
Our records do not list the specific instruments offered by GWG. Given its CySEC licence and broker profile, it is likely to provide forex pairs, CFDs on indices, commodities, and possibly cryptocurrencies. The LMAX partnership suggests access to forex and other asset classes.
Interested traders should consult the broker's official documentation for a complete list of available trading instruments and contract specifications.
Target Audience
The account structure indicates that GWG targets a range of traders, from beginners with smaller capital (Standard account) to high-net-worth individuals and professional traders (Professional account). The varying leverage limits cater to different risk appetites and regulatory classifications.
Given the Cyprus base and CySEC regulation, the broker primarily serves clients within the European Economic Area (EEA), though it may also accept international clients subject to local laws.
Overview compiled by FXCanary from regulatory records and public data. full GWG review