As a FX trader, you may read FXGiants review before online. In that case, you might notice some reviewers were positive, where the others didn’t seem that much positive. But the truth is every broker has both pros and cons and we’ve to choose one from all these brokers who will cover most of our requirements. And that’s why, in today’s discussion, we tried to gather all strengths & weaknesses of FXGiants so that you can quickly hover your eyes on its features and decide whether it fulfills your requirements or not.
FXGiants Regulations & Background
The background story & regulation of this broker are closely connected. At first the brand FXGiants was registered under IronFX Global which is a Cyprus based company. IronFX global has regulatory issue with CyCEC for trader withdrawal. But now it runs its operation in both UK & Australia individually under the law of their respective countries.
In London, it has the trade name 8Safe UK Ltd. & it is regulated by the UK’s most prominent authority FCA (UK Financial Conduct Authority) under the license number 585561. On the other hand, in Australia, the broker is regulated by ASIC (Australian Securities and Investment Commission) under the AFS license number 417482. Furthermore, in Australia GVS Pty Limited hosts the trade name of FXGiants.
FXGiants Reliability & Safety of Funds
All customer accounts of FXGiants are completely protected by UK’s Financial Services Compensation Scheme. According to this scheme, traders will get compensation, if the broker break any commitment. This safety factor has made one of strongest & most reliable broker among the FX investors.
FXGiants Trading Platforms & Software
If you’ve fxgiants login id then you’ll have the access to all their trading platforms and software. Basically, the main broker engine they use is the different versions of Meta Trader. So, if you’ve already a good knowledge on meta trader you can easily start trading. The following version are available for the traders right now:
- MT4 for PC.
- MT4 for Advanced for PC.
- MT4 for MAC.
- MT4 for Android Smartphone.
- MT4 for iPhone & iPad.
- PMAM or Personal Multi Account Manager
FX Giants Deposits & Withdrawals Options
There are enormous several deposit options for FXGiants. Although, the number of accepted deposit and withdrawal methods are smaller than many other brokers, for newbies and intermediate traders they are quiet enough to start and continue trading. Moreover, there is no deposit fee for any payment method. There available deposit methods are: Neteller, FasaPay, DotPay, Standar Debit & Credit Cards, Bank & Wire Transfers. For withdrawals, you can use the same options.
Minimum Initial Deposit & Leverage
You can start your journey from no deposit account to account contains minimum deposit of 2500 USD. The leverage varies from 1:1 to 1:1000 depends on the initial deposit. For newbies, small initial deposit and small leverage is recommended.
Average spreads & Commissions
FXGiants charges spread for all levels of account. But depends on currency pair & level of accounts these spreads vary. However, fixed and variable, both spreads are available here. Besides, for the trades a small commission is also charged by this broker in terms of how much lots you traded.
FXGiants Trade Types/Instruments
FXGiants contains spot metals, spot forex or contacts for 200 difference assets. These assets can be currencies, commodities, equities or futures.
FXGiants Account Types
FXGiants offers 7 types of account for the traders. The first 4 accounts are:
0 FIXED SPREAD ACCOUNT
STP / ECN NO COMMISSION ACCOUNT
|Minimum Deposit||USD 100 or Equivalent Supported Currency||USD 2500 or Equivalent Supported Currency||USD 500 or Equivalent Supported Currency||Same as Fixed Spread Account|
|Leverage||From 1:1 to 1:1000||Same as Micro Account||Same as Premium Account||From 1:1 to 1:200|
|Spread / Commission||In EUR/USD low as 1.1 on floating and 2.2 on Fixed||In EUR/USD low as 0.7 on floating and 1.2 on Fixed||Commission starts from USD 18 per lot.||N/A|
|Supported Currency||EUR, USD, JPY, GBP||Same as Micro Account||Same as Premium Account||Same as Fixed Spread Account|
|Lots||Minimum 0.1 lot size with an increment of 0.1.||Same as Micro Account||Same as Premium Account||Same as Fixed Spread Account|
Besides, there are 3 types of STP/ECN 0 accounts. Their features are:
ABSOLUTE ZERO STP/ECN
STP/ECN 0 SPREAD
ABSOLUTE ZERO PLUS STP/ECN
|Minimum Deposit||Not Required||USD 500 or Equivalent Supported Currency||Not Required|
|Leverage||1:200 (Max)||Same as Absolute Zero STP/ECN Account||1:200 (Max)|
|Spread / Commission||USD 0||N/A||In EUR/USD spread is as low as 0 and the commission goes up to USD 10 IB.|
|Supported Currency||EUR, USD||EUR, USD, JPY, GBP||EUR, USD|
|Lots||Minimum 0.1 lot size with an increment of 0.1.||Same as Absolute Zero STP/ECN Account||Same as STP/ECN 0 Spread Account|
Mobile trading is much easier for the traders under this broker because fxgiants login is available from the mobile devices and you can install MT4 for both android and iPhone to access all the features, supports & launch the trade.
FX Giants Customer Support
A dedicated team of customer support are always ready to help you by phone, email or live chat. They’ll guide you to start your journey to FX, will help you to launch trade or eradicate any problems associated to your FX business. Additionally, for non-English speaker or non-native traders, they’ve a set of toll free numbers which means its fxgiants uk or vietnum wherever you are, no language or location barrier can prevent your trading opportunity.
Bonuses and Promotions
Although FXGiants doesn’t offer no deposite bonus to its new clients, it offers enormous types of bonus and promotional offers to motivate the traders those are enough to turn a simple trader to a loyal client. Some mentionable bonuses are:
- Live Competition: Usually, the top ranked trader based on live survey is given promotional bonuses here.
- Bonus Advantages: Sometimes, they offer a deposit-based bonus. For instance, they may announce that all FX investors who deposit 2000$ within a certain date, a 20% bonus in real cash will be added to their account.
- MT4 VPS: If you get this bonus, you’ll have your own virtual private server & your fund and trading will be more secured and personalized.
But for every bonus & promotions, there some terms for the investors. As a prudent trader, don’t forget to check them first.
FXGiants Pros & Cons:
|Initial deposit starts from 100 USD which is a very good figure for a newbie trader.||They don’t have any other trading platform except Mete Traders. So, for the users of CTraders or other platforms the site is not user friendly.|
|Regulated by two giant regulators: FCA and ASIC in UK & Australia respectively.||The multilingual support is limited.|
|Trader’s fund is protected by UK’s Financial Compensation Scheme.||Web based trading platform is not available.|
|Wide range of instruments are available in FXGiants.|
So, finally we can conclude this FXGiants review by the decision that for newbies this broker is fine, but for more professionals you should check other options. Besides, if you want to use PayPal for deposit or withdrawal, then this is not the broker which you are looking for. In that case, you can check best paypal brokers also. Adios.
FAQ: Frequently-Asked Questions
|📛 Broker Name :||FXGiants|
|🏢 Company Name :||8Safe UK LTD|
|📅 Foundation Year :||2015|
|📈 Regulated by :||ASiC, FCA|
|🏢 Headquarters :||United Kingdom|
|📉 Broker Type :||MM/STP|
|💱 Base Currency :||AUD, CZK, EUR, GBP, HUF, JPY, PLN, CHF, USD|
|🏢 US Traders :|
|💰 Min. Deposit :||100 USD|
|💰 Max. Leverage :||1:500|
|💰 Minimum Spreads :|
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|📒 VIP Account :|
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|📒 Segregated Account :|
|📒 Islamic Account :|
|📒 Managed Account :|
|📒 Pamm Account :|
|📒 Affiliate Account :|
|💰 Deposit Methods :||Credit Card, FasaPay, Neteller, Skrill, Union Pay, Wire Transfer|
|💰 Withdrawal Methods :||Credit Card, FasaPay, Neteller, PayPal, Skrill, Union Pay, Wire Transfer|
|💰 Trading Platforms :||MetaTrader 4|
|💰 Fixed Spreads :|
|📈 Commission on Trades :|
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|📈 Automatic Trading :|
|📈 Mobile Trading :|
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|🚥 Signals :|
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|📧 Email Alert :|
|📊 Forex/Currencies :|
|📊 Commodities :|
|📊 CFDs :|
|📊 Indices :|
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|📊 Crypto Currency :|
|🎁 No Deposit Bonus :|
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|🏆 Contest :|
|🎁 Other's Promotion :|
|🔥 24-Hours Support :|
|🔥 Support During Weekends :|
|🌐 Web Form :|
|💬 Live Chat :|
|🤙 Call-Back :|
|✔️ Support Language :||Arabic, Chinese, Czech, English, French, German, Italian, Korean, Polish, Portuguese, Russian, Spanish, Vietnamese|
|🌐 Website :|
|📧 E-mail :||[email protected]|
|📞 Telephone :||+44(0) 207 523 5394|
|🖷 Fax :||No|
|📋 Address :||12th Floor, Broadgate Tower, 20 Primrose Street, London, EC2A 2EW, UNITED KINGDOM|