FXGT
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| Leverage | 1:500 |
| Minimum Deposit | $50 |
| Regulation | FSA, CySEC, VFSC |
| Year Established | 2019 |
| Payment Methods | Credit Cards, Wire Transfer, Bitcoin |
| Trading Assets | Forex, Commodities, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Very Low |
| Average cost: EUR/USD | 0.3 pips |
| Demo Account | ✅ |
| Islamic Account | ❌ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | ✅ |
| Signals | ✅ |
| EAs/Robots | ✅ |
| Negative Balance Protection | ✅ |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Contact Information | Email: [email protected], Phone: +123456789 |
| Address | Room 12, First Floor, Kingsgate House, Victoria, Mahe, Seychelles |
| Rating | ★★★★☆ 4.5 |
| Website |
Pros and Cons
- Competitive spreads
- Support for cryptocurrencies trading
- Access to both MT4 and MT5 platforms
- Robust copy trading options
- Negative balance protection
- Limited regulatory oversight from major regulators
- Lack of educational resources
- Limited asset selection outside of forex and cryptos
- Not available to US traders
- Islamic account not available
Introduction
Foreign Exchange Global Trading, or FXGT, is a forex and cryptocurrency broker that was established in 2019.
Based in the Seychelles and regulated by multiple financial authorities, the broker offers a broad array of trading services across a wide range of instruments including forex, cryptocurrencies, commodities, and indices.
This review delves into the crucial aspects of its offerings, including regulatory compliance, trading platforms, account types, trading instruments, fees, customer service, and more, providing a granular analysis aimed at assisting potential traders in making an informed decision.
Create a Free AccountRegulatory Compliance and Safety
FXGT operates under the regulatory oversight of the Seychelles Financial Services Authority (FSA), with additional licenses from the Cyprus Securities and Exchange Commission (CySEC) and the Vanuatu Financial Services Commission (VFSC).
These regulatory bodies ensure that the company adheres to certain operational standards, providing traders with a level of security.
However, it’s important to note that the regulatory rigor of FSA and VFSC is not as stringent as that of bodies like the UK’s Financial Conduct Authority (FCA) or the U.S. Securities and Exchange Commission (SEC).
Regulatory Details:
| Authority | License | Notes |
|---|---|---|
| FSA | SD019 | Basic level of regulatory oversight |
| CySEC | License No. 382 | High level of compliance with EU financial standards |
| VFSC | 700601 | Regulates international finance service providers |
Trading Platforms and Technology
Regulatory Compliance and Safety
FXGT provides access to both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), accommodating various trading preferences.
Each platform is equipped with distinct features tailored to different trading strategies and styles.
Platform Comparison
| Feature | MT4 | MT5 |
|---|---|---|
| Operating System | 32-bit and 64-bit | 64-bit only |
| Technical Indicators | 30 built-in | 38 built-in |
| Timeframes | 9 types (from 1 minute to 1 month) | 21 types (additional minute and hourly) |
| Economic Calendar | Not integrated | Integrated |
| Market Depth | No | Yes |
| Order Execution Types | 3 types | 4 types |
| Devices Supported | Desktop, WebTrader, Android, iOS | Desktop, WebTrader, Android, iOS, macOS |
Both platforms support automated trading and are favored for their robust analytical tools, customizability, and user-friendly interfaces, making them suitable for both novice and experienced traders.
Account Types
FXGT offers several account types to cater to various trader needs, ranging from beginner to professional levels.
Each account type provides different features and benefits, such as varying spreads and leverage options.
Account Types Overview:
| Account Type | Minimum Deposit | Spreads | Leverage | Commission |
|---|---|---|---|---|
| Standard | $50 | From 0.3 pips | Up to 1:500 | No |
| Premium | $1,000 | From 0.0 pips | Up to 1:500 | Yes |
| Demo | N/A | N/A | N/A | N/A |
Trading Instruments
FXGT provides a wide range of trading instruments across countless markets.
These include major, minor, and exotic forex pairs, various cryptocurrencies, precious metals like gold and silver, energy commodities such as oil, and major global indices.
Instruments Offered:
| Market Type | Examples |
|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD |
| Cryptocurrencies | Bitcoin, Ethereum, Litecoin |
| Commodities | Gold, Silver, Brent Crude Oil |
| Indices | S&P 500, FTSE 100, Nikkei 225 |
Fees and Spreads
FXGT prides itself on competitive pricing structures, featuring low spreads and no hidden fees.
The broker does not charge commissions on standard accounts, though premium accounts may include a commission fee but with even lower spreads.
Fee Structure:
| Instrument | Average Spread | Commission |
|---|---|---|
| EUR/USD | 0.3 pips | $0 for Standard |
| Gold | 0.35 pips | $0 for Standard |
| BTC/USD | $10 over market | $0 for Standard |
Deposits and Withdrawals
FXGT supports a wide array of deposit and withdrawal methods, ensuring that traders worldwide can manage their funds conveniently.
The broker processes most transactions rapidly, although withdrawal times can vary depending on the method used.
Deposit & Withdrawal Methods:
| Method | Deposit Time | Withdrawal Time | Fees |
|---|---|---|---|
| Credit Card | Instant | 1-3 business days | None |
| Bank Transfer | 1-3 business days | 2-5 business days | Varies |
| Bitcoin | Up to 2 hours | Up to 24 hours | None |
Customer Support
Its customer support is accessible via multiple channels including live chat, email, and phone.
Support services are available 24/5, aligning with the forex market hours.
Traders have reported high satisfaction with the responsiveness and quality of support received.
Educational and Trading Resources
The broker offers an array of educational resources, including articles, tutorials, and webinars designed for both beginners and advanced traders.
These resources cover topics like market analysis, trading strategies, and the basics of forex and cryptocurrency trading.
Market Research and Analysis
FXGT provides comprehensive market research and analysis, offering traders insights into market trends and potential opportunities.
This includes daily updates, technical analyses, and market forecasts prepared by experienced financial analysts.
Company Overview and Market Presence
Despite its recent entry into the market, the broker has rapidly expanded its presence, especially in Asian and European markets.
The broker’s focus on technology, customer service, and extensive market offerings has contributed significantly to its growing reputation among retail and institutional traders.
Conclusion
FXGT offers a robust trading environment with competitive fees, a range of trading platforms, and a diverse selection of trading instruments.
Its regulatory standing and commitment to customer service make it a reliable choice for traders at all levels.
While it continues to develop its educational and analytical resources, it remains a formidable option for those interested in trading forex and cryptocurrencies.
This comprehensive review of FXGT is designed to provide you with a detailed overview of the broker, helping you make an informed decision based on your trading needs and preferences.
Visit official website: www.fxgt.comFAQ
What minimum deposit is required to open an account?
FXGT requires a minimum deposit of $50 to start trading.
What trading platforms does it offer?
FXGT offers both MetaTrader 4 and MetaTrader 5 platforms, known for their robust features and customization options.
Is the broker regulated?
The company is regulated by the Financial Services Authority (FSA) of Seychelles, and also holds additional licenses from CySEC and VFSC, providing a moderate level of regulatory oversight.
Can I trade cryptocurrencies?
Yes, FXGT provides options to trade various cryptocurrencies, making it a suitable choice for digital asset traders.
Does FXGT offer a demo account?
Yes, it offers a demo account where you can practice trading with virtual money before investing real funds.
What are the trading costs at FXGT?
Trading costs are competitive, with very low spreads, especially on major currency pairs like EUR/USD.
Does it support scalping and automated trading?
Yes, it supports scalping and the use of Expert Advisors (EAs) for automated trading on both MT4 and MT5 platforms.
Resources
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 4, 2024
