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

Alternative Brokers

Pros and Cons

Pros
  • Competitive spreads
  • Support for cryptocurrencies trading
  • Access to both MT4 and MT5 platforms
  • Robust copy trading options
  • Negative balance protection
Cons
  • 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.

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Regulatory 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:

AuthorityLicenseNotes
FSASD019Basic level of regulatory oversight
CySECLicense No. 382High level of compliance with EU financial standards
VFSC700601Regulates 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

FeatureMT4MT5
Operating System32-bit and 64-bit64-bit only
Technical Indicators30 built-in38 built-in
Timeframes9 types (from 1 minute to 1 month)21 types (additional minute and hourly)
Economic CalendarNot integratedIntegrated
Market DepthNoYes
Order Execution Types3 types4 types
Devices SupportedDesktop, WebTrader, Android, iOSDesktop, 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 TypeMinimum DepositSpreadsLeverageCommission
Standard$50From 0.3 pipsUp to 1:500No
Premium$1,000From 0.0 pipsUp to 1:500Yes
DemoN/AN/AN/AN/A
Get a 25% bonus

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 TypeExamples
ForexEUR/USD, GBP/JPY, AUD/NZD
CryptocurrenciesBitcoin, Ethereum, Litecoin
CommoditiesGold, Silver, Brent Crude Oil
IndicesS&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:

InstrumentAverage SpreadCommission
EUR/USD0.3 pips$0 for Standard
Gold0.35 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:

MethodDeposit TimeWithdrawal TimeFees
Credit CardInstant1-3 business daysNone
Bank Transfer1-3 business days2-5 business daysVaries
BitcoinUp to 2 hoursUp to 24 hoursNone

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.com

FAQ

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

“I’ve been trading with FXGT for over a year now and have found their platform to be highly reliable and easy to use. The spreads are indeed very competitive, and the execution speed is excellent. Customer service is also very responsive and helpful, providing timely and informative answers to my queries.”
Michael Thompson
“As a beginner in forex trading, I appreciated the ease of opening an account. However, I do wish they offered more educational resources to help new traders understand the market better. The customer support is good, but more training materials would be beneficial.”
Sara Jenkins
“FXGT offers a great variety of crypto pairs to trade which is perfect for someone like me who is interested in both forex and cryptocurrencies. The trading conditions are excellent, and I’ve been able to execute trades at the price I want with minimal slippage.”
Daniel Lee

Article written, edited and reviewed by

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Last updated: May 23, 2024