GMX vs Fomo

GMX

The position fee is charged on position size each time you open, close, increase, or partly close: 0.04% when the trade brings long and short open interest closer together and 0.06% when it widens the gap. Gold, silver, oil, and index markets have their own rates, which change with market hours. Price impact, borrowing, funding, and the keeper's network fee are separate, so the position fee on its own understates the cost of a trade.

Fomo

Spot trades cost 0.50% each on every network. On Solana a small-order ladder applies below 190 USDC, and on the other chains you also pay the network fee shown in the quote. Tokens the app marks as low fee cost 0.05%. The perps mode charges 0.05% of position size per trade on top of Hyperliquid's fee and funding. Every fee is shown before you confirm, and the Terms let Fomo change fees at any time.

GMX

You connect a wallet (MetaMask, WalletConnect, Coinbase Wallet, and others) or log in with an email address, a social account, or a passkey, which creates an embedded wallet for you. Neither path includes an identity check. The Terms, last modified August 20, 2026, have no identity-verification clause and say GMX does not collect personal data. Buying crypto with a card inside the app goes through a third-party provider with its own rules, where available.

Fomo

You sign up with an Apple ID, a Google account, or an email code, and Fomo creates a Solana wallet and an EVM wallet for you through Privy. There is no identity check to open the account or to trade, and the private keys can be exported from Settings at any time. Identity checks sit at the edges: the first withdrawal to a US bank account requires a government ID through Spritz, Fomo's payment partner. The Terms, dated August 17, 2026, reserve the right to require KYC for the perps mode, and the card and Apple Pay providers apply their own rules.

GMX

The Terms, last modified August 20, 2026, require that you are not a U.S. Person and, citing the Commodity Exchange Act, say no U.S. Person may enter into perpetual contracts through the interface. They also exclude residents, nationals, and agents of any country embargoed or similarly sanctioned by the US, the UK, or the EU, without naming those countries, and anyone on a US, UK, EU, or UN sanctions list. You promise not to use a VPN or any other tool to get around the restrictions.

Fomo

The Terms, dated August 17, 2026, bar residents, citizens, and anyone located in Cuba, the Democratic Republic of Congo, Iran, Libya, Myanmar, North Korea, Sudan, Venezuela, and Yemen, plus the Crimea, Donetsk, and Luhansk regions, any other country embargoed or sanctioned by the US, the UK, or the EU, and any jurisdiction where crypto trading is prohibited. Perps are not offered to US persons, a definition that includes US citizens living abroad, and Robinhood's stock and ETF tokens are also closed to residents of Canada, the UK, and Switzerland. Spot trading has no US exclusion. You must be 18, and using a VPN to get around any of this breaches the Terms.

GMX

The headline cap is 100x. Each market's own cap is derived from its collateral factors, rounded down to a 5x step, and falls as the pool's open interest grows, so thinner markets allow less. Gold, silver, WTI, and Brent allow 100x during market hours and 25x off-hours, QQQ and SPY 50x and 25x, natural gas 40x and 20x, and the SpaceX market 10x. Each position is margined on its own collateral, in a stablecoin or the market's own token, and you can add or withdraw collateral, including a deposit that triggers at a price you set. A position is liquidated when its remaining collateral falls below 0.25% to 1% of size, and the liquidation fee is 0.2% to 0.45% of size.

Fomo

Leverage is picked in whole numbers up to a cap set per asset: 40x on BTC, 25x on ETH, 20x on SOL, and 10x on most altcoins. The caps for stock, index, and commodity perps are not published. Every position is isolated, so a liquidation costs only that position's margin, and you can add or remove margin on an open position. Collateral is USDC in a separate perps balance, moved in from the token balance (5 USDC minimum in, 2 USDC out), and the smallest position is 15 USDC notional. Liquidation, stop-loss, and take-profit all trigger on Hyperliquid's mark price, not the chart price. A triggered order fills as a market order with a 10% slippage allowance, and funding is paid or received every hour. The Terms warn that the protocol can auto-deleverage profitable positions and that non-crypto markets may lack an insurance fund.

GMX

The Oracle API listed 108 perpetual markets on Arbitrum on September 25, 2026: about 100 crypto assets and eight TradFi markets (gold, silver, WTI and Brent crude, natural gas, the QQQ and SPY index ETFs, and a SpaceX stock market), several with more than one pool to choose from. Avalanche had 12 markets and MegaETH 4. TradFi markets trade around the clock with tighter risk limits outside market hours. Spot swaps run through the same pools, with KyberSwap routing when it pays more. Order types: market, limit, stop market, TWAP in 2 to 30 parts, and take-profit and stop-loss, plus conditional margin deposits. Limit and trigger orders execute against the Chainlink oracle price when it reaches your level and do not rest in a book.

Fomo

Spot covers tokens on Solana, Base, BNB Chain, Monad, Ethereum, and Robinhood Chain, bought from one USDC balance with no bridging. The app labels each token verified, unverified, or with a warning, and Robinhood Chain carries Robinhood's US stock and ETF tokens, which are OTC derivatives issued by Robinhood Europe UAB rather than shares. Perps, launched June 11, 2026, cover everything listed on Hyperliquid and trade.xyz: crypto such as BTC, ETH, SOL, and HYPE, US stocks such as NVDA and GOOGL, the S&P 500, Nasdaq 100, Kospi 200, and Nikkei 225, oil, gold, silver, copper, and natural gas, and pre-IPO markets including SpaceX. Perps orders are market orders with optional stop-loss and take-profit, and spot trades are instant buys and sells at the quoted price.

GMX

There is no exchange balance to fund for direct trading: connect a wallet on Arbitrum, Avalanche, or MegaETH, and the tokens in it (USDC, USDT, ETH, BTC, and each pool's other collateral tokens) serve as margin. From Ethereum, Base, or BNB Chain you deposit USDC, USDT, or ETH into a GMX Account, a separate trading balance on Arbitrum that Stargate and LayerZero bridge for you. It is not available on Avalanche or MegaETH, and bridging is limited by Stargate's liquidity caps. The app's Receive flow can also buy crypto with a card, Apple Pay, or Google Pay through a third-party provider where available. Classic mode needs ETH or AVAX for gas, while Express mode lets you pay gas in USDC.

Fomo

The Deposit screen offers four routes, and not every account sees all of them. A bank-issued debit card funds the USDC cash balance within a few minutes. Prepaid cards, Cash App, Venmo, PayPal, Zelle, and Apple Cash are refused, and card availability follows the payment provider's country list. Apple Pay works two ways: on the card screen it funds the cash balance through Coinbase, with a weekly limit shown in the app, and Buy with Apple Pay purchases a single token directly through Crossmint, capped at 2,500 dollars a day. Pay with Coinbase draws on a Coinbase account. Crypto deposits take USDC on Solana, Base, BNB Chain, Monad, or Ethereum, and USDG on Robinhood Chain, which converts into the Solana USDC balance. The smallest deposit that credits is 15 USDC on Ethereum and 0.50 on Base, BNB Chain, Monad, and Robinhood Chain, with no minimum on Solana. The help center publishes no card fee. On the web you fund with crypto, and the web launch post says card and Apple Pay deposits are done in the mobile app.

GMX

When you trade from your wallet there is nothing to withdraw: closing a position returns the collateral and any profit to the wallet, less the position fee, price impact, and the keeper's network fee. A GMX Account balance can be withdrawn as USDC, USDT, or ETH to Arbitrum, Ethereum, Base, or BNB Chain, whichever chain you deposited from. The docs do not publish the bridge cost, and transfers depend on Stargate liquidity.

Fomo

You withdraw USDC from the cash balance to any wallet or exchange address on Solana, Base, BNB Chain, Monad, or Ethereum, or USDG on Robinhood Chain, choosing the network to match the destination. The help center lists no withdrawal fee for these. Bank withdrawals go through Spritz and reach US bank accounts only, after a one-time ID check: the minimum is 5 dollars, a regular transfer takes 1 to 3 business days, and a same-day Fast option, for requests between 9 AM and 5 PM Eastern on a business day, carries an extra fee that is not published. Anything other than USDC leaves only by exporting the private key into another wallet, positions under 2 USDC (5 on Ethereum) cannot be sold in the app, and perps collateral has to move back to the token balance first.

GMX

A referral code takes 5% off opening and closing fees with a Tier 1 code and 10% with a Tier 2 or Tier 3 code, and the referrer earns 5% to 15% of those fees. Borrow and funding fees are not discounted. Without a code, GMX assigns an automatic 5% discount at $50M of lifetime volume on Arbitrum and 10% at $250M. A code stops paying its referrer after 12 months or $20,000 in rewards, but your discount carries on. No ChainScouter code is active.

Fomo

Signing up through another user's link, fomo.family/r/ followed by their username, takes 10% off trading fees, so the standard 0.50% rate becomes 0.45% on every trade. The code has to go in at signup, though support can attach one afterwards. The help center describes the discount against the spot rate and does not say whether it applies to perps. The referrer receives 25% of the referred user's trading fees, paid into their cash balance, except the referred user's first Solana buy. Creators can apply to a separate affiliate program whose commission tiers are not published. The Terms ban self-referral and let Fomo claw back rewards. No ChainScouter code is active.

GMX

The official interface is the web app at app.gmx.io, built as a progressive web app you can add to a phone's home screen. The docs list no native iOS or Android app. There are three trading modes. In Classic, your wallet signs every transaction. In Express, you sign messages and GMX's own relay submits them. Express with One-Click Trading adds a sub-account key, stored in your browser, that signs for you up to a limit you set. Developers get a public API, a TypeScript SDK, and published skills for AI agents.

Fomo

Fomo is an iOS app (rated 18+ on the App Store, developer FOMO Labs Inc.), an Android app on Google Play, and, since April 29, 2026, a web app at fomo.family that shares the same account, balance, positions, and follows. You sign in with an Apple ID, a Google account, or an email code. On phones, Face ID or a fingerprint gates opening the app, withdrawals, and key exports. The app is built around a live feed of other users' trades and theses, a leaderboard ranked by realized and unrealized PnL, alerts when traders you follow buy or sell, and TradingView charts. There is no copy trading. Spot trades are instant buys and sells at the quoted price, and the help center documents no limit orders and no API. Perps trade from the same account with one-click orders and stop-loss and take-profit levels.