FXGiants

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	Official Website
Leverage	1:1000
Minimum Deposit	$100
Regulation	FCA, ASIC
Year Established	2016
Payment Methods	Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay
Trading Assets	Forex, Indices, Metals, Energies, Cryptocurrencies
MT4	✅
MT5	❌
Spreads	Average
Average cost: EUR/USD	0.3 pips
Demo Account	✅
Islamic Account	✅
CopyTrading	❌
ZuluTrade	✅
Scalping	Yes
Signals	✅
EAs/Robots	Available
Negative Balance Protection	Yes
Deposit Fee	❌
Withdrawal Fee	✅
Contact Information	Email: [email protected], Phone: +44 203 519 2097
Address	4th Floor, 152 City Road, London EC1V 2NX, United Kingdom
Rating	★★★★☆ 4.2
Website	Official Website

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Pros and Cons

FXGiants Review: Regulated Trading with Global Access

FXGiants is a global online trading broker established in 2016, offering a broad range of financial instruments across multiple asset classes.

Headquartered in London, United Kingdom, it is regulated by both the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC) in Australia.

As a broker, it caters to traders of all experience levels, providing access to various markets, including forex, indices, commodities, shares, and cryptocurrencies.

This review will examine its services, trading conditions, platforms, account types, fees, and customer support in detail, comparing it to other firms to help you make an informed decision.

Regulatory Environment and Security

Dual Regulatory Framework

Regulation is a key factor when evaluating its credibility and trustworthiness.

The company operates under a dual regulatory framework, adhering to the strict guidelines set by the FCA and ASIC.

These regulatory bodies are known for their rigorous standards and comprehensive oversight.

1. Financial Conduct Authority (FCA): The FCA is a highly regarded regulator globally, known for its stringent regulations that require firms to maintain sufficient capital, segregate client funds from company funds, and comply with robust reporting standards. Brokers regulated by the FCA are mandated to offer compensation schemes (up to £85,000 in the UK) if the company defaults or becomes insolvent. This adds an extra layer of security.
2. Australian Securities and Investments Commission (ASIC): ASIC is another well-respected regulatory body that enforces strict compliance requirements related to transparency, fair trading, and client protection. Brokers regulated by ASIC must ensure that they provide clear information regarding their products and services, safeguard funds, and adhere to market integrity standards.

The dual regulation by these two leading authorities enhances the credibility of the company and provides a safe environment for trading.

Traders are assured that their funds are kept in segregated accounts, separate from its operational funds, ensuring that their money is secure and accessible even in cases of financial instability within the firm.

Client Fund Security Measures

• Segregated Accounts: All client funds are held in segregated bank accounts, separate from their operating funds. This measure prevents the misuse of user funds and provides an additional layer of protection in the event of insolvency.
• Negative Balance Protection: This feature prevents people from losing more money than they have deposited, which is particularly crucial in volatile markets. It ensures that traders’ balances do not drop below zero, protecting them from excessive losses that could occur due to leveraged trading.
• Data Encryption: The company employs advanced encryption technologies, such as SSL (Secure Socket Layer), to safeguard personal data and transaction information. This level of encryption is on par with that used by financial institutions worldwide, ensuring that sensitive information is kept secure.
• Regular Audits: As a regulated entity, the firm undergoes regular audits and is required to provide detailed financial reports to both the FCA and ASIC. This transparency fosters trust among clients and ensures that the broker adheres to industry standards and best practices.

These security measures collectively enhance their reliability, giving users peace of mind that their funds and data are protected in a secure environment.

Trading Platforms

A robust and versatile trading platform is essential for executing trades efficiently and analyzing the market effectively.

FXGiants offers the MetaTrader 4 (MT4) platform, which is highly regarded in the trading community for its user-friendly interface, advanced tools, and flexibility.

MetaTrader 4 (MT4)

MT4 is the only platform offered.

Despite the availability of newer platforms like MetaTrader 5 (MT5), MT4 remains one of the most popular platforms globally, especially among forex traders.

Here’s a closer look at its features:

• User Interface and Customization: MT4 is known for its straightforward and intuitive interface, making it accessible to both novices and professionals. It offers customizable chart layouts, allowing users to tailor the platform to their specific trading preferences.
• Advanced Analytical Tools: The platform comes with a comprehensive set of built-in technical analysis tools, including over 30 indicators, multiple chart timeframes, and customizable chart types. These tools help investors analyze price movements and identify potential trading opportunities.
• Automated Trading and Expert Advisors (EA): One of MT4’s standout features is its support for automated trading through EA. Users can develop their own trading strategies or use pre-built ones to execute trades automatically, which can be particularly advantageous for those who rely on algorithmic trading.
• Multi-Device Compatibility: MT4 is available on various devices, including desktop computers, smartphones, and tablets. This multi-device compatibility allows individuals to access their accounts and execute trades from virtually anywhere, providing flexibility and convenience.
• Security Features: MT4 employs high-level security protocols, such as data encryption and two-factor authentication, to protect client data and transactions. This ensures that people can operate within a secure trading environment.

Limitations of Platform Offering

While MT4 is a well-regarded platform, its exclusive offering may limit some.

For example, MetaTrader 5 (MT5) includes additional features, such as more timeframes, more order types, and an integrated economic calendar.

For those who are looking for the advanced functionalities of MT5, the absence of this platform could be a drawback.

Additionally, the lack of alternative platforms like cTrader may deter investors who prefer different trading interfaces.

Trading Instruments

FXGiants offers a wide array of trading instruments across several asset classes, allowing investors to diversify their portfolios and capitalize on various market opportunities.

Below is a detailed overview of the available instruments:

Forex

The broker provides access to over 70 currency pairs, including major, minor, and exotic pairs.

This extensive range gives traders ample opportunities to speculate on the forex market, the largest and most liquid market in the world.

Major pairs, like EUR/USD, GBP/USD, and USD/JPY, typically have tighter spreads due to high liquidity, while minor and exotic pairs may have wider spreads but can offer significant trading opportunities due to their volatility.

Indices

Users can access a range of global indices, such as the S&P 500, NASDAQ 100, FTSE 100, DAX 30, and Nikkei 225.

Index trading allows for diversification by speculating on the performance of a group of stocks rather than individual companies.

This can be advantageous for those looking to hedge against market movements or invest in broad market trends.

Commodities

The platform provides access to various commodities, including precious metals like gold and silver, and energy products like crude oil and natural gas.

Trading commodities can be a good hedge against inflation and currency fluctuations.

The availability of both metals and energies allows people to diversify their portfolios with assets that often have an inverse relationship with traditional markets.

Cryptocurrencies

FXGiants offers a limited selection of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.

While this provides some exposure to the rapidly growing digital currency market, the range is narrower compared to other brokers offering more diverse crypto assets.

However, for people looking to combine traditional and digital asset trading, this option still presents opportunities.

Shares

Traders can speculate on shares from major global exchanges, including those in the US, UK, and Europe, through CFDs (Contracts for Difference).

CFD trading on shares allows people to profit from both rising and falling markets without owning the underlying asset, providing flexibility in diverse market conditions.

FXGiants offers a broad range of trading instruments suitable for various trading strategies and preferences.

However, the relatively limited selection of cryptocurrencies may not fully meet the needs of traders seeking a more diverse range of digital assets.

Account Types

To cater to different trading needs and experience levels, it offers several account types, each with its features and trading conditions.

Here is an in-depth analysis of these accounts:

1. Live Floating Spread Account

This account type is ideal for those who prefer floating spreads that vary with market conditions.

It offers a flexible trading environment with no commission fees.

• Minimum Deposit: $100
• Leverage: Up to 1:1000
• Spread Type: Floating (Variable)
• Commission: No commission
• Target Audience: New and experienced users looking for competitive spreads and high leverage.

2. Live Fixed Spread Account

For customers who prefer stable costs and predictability, this account type offers fixed spreads that do not change with market volatility.

• Minimum Deposit: $100
• Leverage: Up to 1:1000
• Spread Type: Fixed
• Commission: No commission
• Target Audience: People who want to avoid spread widening during volatile market conditions.

3. STP/ECN Account

The STP/ECN Account is designed for clients who prioritize tight spreads and direct market access.

This account type suits scalpers and high-frequency traders.

• Minimum Deposit: $500
• Leverage: Up to 1:200
• Spread Type: Floating (Tight Spreads)
• Commission: Charged per trade
• Target Audience: Professionals and those using automated trading strategies.

4. Zero Fixed Spread Account

Offering zero spreads with a commission per trade, this account is best suited for investors who want to avoid spread costs entirely.

• Minimum Deposit: $500
• Leverage: Up to 1:200
• Spread Type: Fixed (Zero)
• Commission: Charged per trade
• Target Audience: Experienced financial traders who prefer zero spreads and can accommodate commission charges.

5. Islamic Account

This account type is tailored for people who adhere to Islamic finance principles, prohibiting interest or swap charges.

• Minimum Deposit: $100
• Leverage: Up to 1:1000
• Spread Type: Floating or Fixed
• Commission: No commission (except on specific instruments)
• Target Audience: Users following Islamic principles.

However, it is worth noting that the minimum deposit for some accounts (such as the STP/ECN and Zero Fixed Spread Accounts) might be higher than some competitors, which could be a consideration for traders with limited capital.

Spreads, Fees, and Commissions

Understanding the cost structure of a broker is crucial to evaluating its overall value.

FXGiants provides a competitive pricing model, particularly on its ECN/STP accounts, where spreads are tight, and commissions are relatively low.

Spreads

The broker offers both fixed and floating spreads, depending on the account type.

Floating spreads on the Standard Account typically start from 1.1 pips for major currency pairs like EUR/USD, while the ECN/STP account offers tighter spreads starting from 0.2 pips.

Commissions

Most account types do not charge commissions, but the STP/ECN and Zero Fixed Spread Accounts do.

The commission on the STP/ECN Account is relatively low, which is favorable for high-frequency traders or those using automated systems.

Swap Fees

Swap fees apply to positions held overnight and can vary depending on the instrument and market conditions.

The broker provides a detailed schedule of swap fees on its website, allowing clients to calculate the cost of holding positions overnight.

Islamic accounts are swap-free, aligning with Shariah principles.

Deposit and Withdrawal Fees

• Deposit Fees: FXGiants does not charge fees for deposits on most methods. However, traders should check with their payment provider, as some fees may be applied by banks or payment processors.
• Withdrawal Fees: Some withdrawal methods, particularly bank transfers, may incur fees. These fees can vary based on the method and location. E-wallet withdrawals are generally free but may require a minimum amount.

Overall, it offers a transparent fee structure with competitive spreads and commissions, particularly on the ECN/STP accounts.

However, investors should be mindful of potential withdrawal fees and swap charges.

Leverage and Margin Requirements

Leverage allows anybody to control larger positions with a smaller capital investment.

FXGiants offers high leverage of up to 1:1000, which can be attractive to those looking to maximize their potential returns.

However, it is essential to understand that higher leverage also increases the risk of significant losses.

Leverage by Account Type

High leverage is a double-edged sword: while it can amplify profits, it also magnifies losses.

The broker provides margin call and stop-out levels to mitigate risk, but traders need to implement their risk management strategies.

Customer Support

Quality support is vital for any firm, especially for new users who may need help navigating the platform or understanding trading conditions.

The firm offers several support options:

• Availability: Support is available 24/5, which covers all major trading hours, though it may be less ideal for those needing assistance on weekends.
• Contact Methods: Investors can reach support through email, phone, and live chat. The live chat feature is particularly useful for quick queries, while phone and email options can handle more detailed issues.
• Languages: Support is available in multiple languages, accommodating a diverse client base.
• Knowledge Base: The website includes an FAQ section and educational content to address common questions and provide basic trading knowledge.

While support is generally responsive and helpful, the absence of 24/7 support might be a limitation for some.

Additionally, while the knowledge base is sufficient for beginners, more advanced traders might find the educational content somewhat basic.

Educational Resources

Educational resources are a critical component for brokers catering to new and intermediate users.

The company offers several resources to help people enhance their skills and knowledge:

• Webinars and Seminars: The company hosts occasional webinars and seminars conducted by experienced traders and market analysts. These events cover various topics, from basic trading strategies to advanced market analysis techniques.
• Market Analysis: Daily market analysis is available, providing insights into key financial markets, including forex, indices, and commodities. These analyses cover both technical and fundamental aspects, helping investors make more informed decisions.
• Trading Guides and Tutorials: Several guides and tutorials are available on the website. These materials cover essential trading topics, such as risk management, trading strategies, and platform navigation.
• Glossary and FAQs: The site includes a comprehensive glossary of trading terms and a detailed FAQ section that answers common queries regarding accounts, platforms, and fees.

Although these resources provide a solid foundation for new clients, more experienced traders may find the content too basic.

A broader range of advanced resources, such as in-depth research reports, strategy guides, and market webinars, could enhance the offering.

Deposit and Withdrawal Options

The firm supports more than 10 deposit and withdrawal methods, making it convenient for individuals worldwide to fund and withdraw from their accounts:

• Bank Transfer: Secure but can take several days, especially for international transfers.
• Credit/Debit Cards: Generally instant deposits, with withdrawals taking a few days.
• E-Wallets: Fast and convenient, with most transactions processed within 24 hours. Popular options include Skrill, Neteller, and UnionPay.
• Local Payment Solutions: Available depending on the client’s location, offering additional flexibility.

Fees and Processing Times

• Deposit Fees: No fees for most deposit methods, though bank or payment processor fees may apply.
• Withdrawal Fees: Fees may apply, especially for bank transfers. E-wallet withdrawals are generally free, but may require a minimum amount.
• Processing Times: Deposits are usually instant, while withdrawals can range from 1-5 business days.

These options provide flexibility and convenience, but everybody should check for any additional fees charged by their payment provider.

Trading Experience

The overall trading experience is generally positive, enhanced by several factors:

Account Opening and Verification

The account setup process is simple and can be completed online.

Clients provide personal information and documents for verification, usually within 24–48 hours, allowing for quick account activation.

Execution Speeds

The broker offers fast execution speeds, especially on the STP/ECN accounts that utilize a no-dealing desk execution model.

This reduces the likelihood of requotes and slippage, which is beneficial for scalpers and high-frequency traders.

Platform Stability

MT4 is a stable and reliable platform with minimal downtime, available on multiple devices.

This flexibility allows individuals to manage their accounts and execute trades from virtually anywhere, enhancing the overall trading experience.

Transparency

The broker provides a transparent trading environment, with clear information on its website regarding account details, fees, and terms of service.

This transparency helps build trust and confidence among its clients.

Comparison with Other Brokers

To provide further context, we will compare FXGiants with two real brokers: IG Group and Pepperstone.

These firms are well-established and cater to a similar market segment, offering various trading instruments, platforms, and services.

Comparative Analysis

• Platforms: While FXGiants only offers MT4, IG Group and Pepperstone provide a wider range of platforms, including MT5, ProRealTime, and cTrader, catering to users who prefer different interfaces and functionalities.
• Leverage: FXGiants offers higher leverage (up to 1:1000), while IG Group provides lower leverage due to regulatory restrictions in the UK and EU. Pepperstone offers competitive leverage up to 1:500 for non-EU clients.
• Fees and Commissions: All three brokers have competitive fee structures, but FXGiants charges a commission on ECN accounts, similar to Pepperstone’s Razor account. IG Group offers both commission-based and commission-free account types.
• Cryptocurrencies: Both IG Group and Pepperstone provide a broader selection of cryptocurrencies compared to FXGiants, which may appeal to investors interested in digital assets.
• Customer Support: IG Group offers 24/7 support, while FXGiants and Pepperstone provide 24/5 support. The availability of around-the-clock support may be a deciding factor for some.

Safety and Security Measures

This firm prioritizes the safety and security of user funds and data:

• Segregated Accounts: Client funds are kept separate from its operational funds in segregated bank accounts, ensuring their protection in case of insolvency.
• Negative Balance Protection: This feature prevents people from losing more than their initial deposit, crucial in volatile markets with high leverage.
• Data Encryption: Advanced encryption technologies protect data and transactions, ensuring a secure trading environment.
• Regular Audits: Compliance with FCA and ASIC regulations requires regular audits and financial reporting, fostering transparency and trust.

Conclusion

FXGiants is a well-regulated broker offering more than 2000 trading instruments, multiple account types, and high leverage options.

Its regulatory oversight by both the FCA and ASIC provides a secure trading environment, making it a reliable choice for everybody.

The use of the MetaTrader 4 platform ensures a familiar and reliable trading experience, though the absence of more advanced platforms like MetaTrader 5 or cTrader may limit some people.

Their competitive spreads, particularly on ECN accounts, and transparent fee structure make it appealing, though potential withdrawal fees and swap charges should be considered.

While the educational resources are sufficient for beginners, more advanced traders may find them limited.

Customer support is generally responsive and available in multiple languages, although not around the clock.

Overall, FXGiants presents a solid option for beginner and intermediate users seeking a regulated, straightforward trading environment with high leverage options.

However, for those looking for more advanced trading tools, a broader range of assets, or 24/7 support, other brokers like IG Group or Pepperstone may offer a more comprehensive solution.

FAQ

Resources

• Official Website: https://www.fxgiants.com/fxg/trading/
• Facebook: https://www.facebook.com/FXGiants/
• Twitter: https://twitter.com/FXGiants1
• Instagram: https://www.instagram.com/fxgiants/?hl=en

User Reviews

Article written, edited and reviewed by

Adam Rosen

Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.

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Andrew Blumer is a finance pro who's got money matters down to a science.
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Last updated: September 5, 2024