FXGiants Broker Review

Is FXGiants a scam?

FXGiants is regulated by two reputable regulatory authorities, the Financial Conduct Authority (FCA) in the UK and the Securities Commission of the Bahamas (SCB). The FCA is one of the most respected financial regulatory bodies in the world, and its oversight ensures that FXGiants complies with strict regulatory requirements and maintains transparency in its operations.

Under the FCA regulation, FXGiants is required to follow strict rules on client money segregation, providing negative balance protection, and conducting regular audits to ensure compliance with regulatory requirements. The broker also participates in the Financial Services Compensation Scheme (FSCS), which offers protection to clients in the event of the broker’s insolvency.

In addition, FXGiants uses advanced security measures to protect its clients’ data and funds. The broker uses SSL encryption technology to secure all communication between its website and clients’ devices, and it stores clients’ funds in segregated accounts with reputable banks.

Overall, FXGiants’ regulatory oversight, commitment to client fund protection, and use of advanced security measures make it a relatively safe and secure broker for forex and CFD trading. However, traders should still exercise caution when trading and ensure that they understand the risks involved in trading forex and CFDs.

FXGiants Trading Platforms

FXGiants offers its clients access to several trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as the WebTrader platform.

MetaTrader 4 (MT4) is a widely used platform in the forex and CFD trading industry, offering advanced charting tools, technical indicators, and a range of customizable trading features. MT4 also supports automated trading through the use of Expert Advisors (EAs), which are custom scripts that can be programmed to automate trading strategies.

MetaTrader 5 (MT5) is the successor to MT4 and offers additional features, including support for a greater range of asset classes, advanced charting tools, and a built-in economic calendar. MT5 also supports hedging, which allows traders to open multiple positions on the same instrument in opposite directions.

FXGiants’ WebTrader platform is a browser-based platform that allows traders to access their accounts from any device with an internet connection, without needing to download or install any software. The WebTrader platform offers a range of trading tools and features, including advanced charting, one-click trading, and risk management tools.

All of FXGiants’ trading platforms offer fast and reliable execution, real-time market data, and a range of order types, including market orders, limit orders, stop-loss orders, and trailing stop orders. Traders can also access a range of trading tools and resources, including educational materials, trading signals, economic calendar, and market news, to help inform their trading decisions.

Products FXGiants provides

FXGiants offers its clients a range of financial products for trading on its platforms, including:

1. Forex Currency Pairs: FXGiants offers a wide range of major, minor, and exotic currency pairs, including EUR/USD, USD/JPY, GBP/USD, and USD/CHF, among others.
2. Commodities: Clients can trade commodities such as gold, silver, crude oil, and natural gas, among others.
3. Indices: FXGiants offers a range of global indices, including the US 500, UK 100, and Germany 30, among others.
4. Stocks: The broker offers stocks from some of the world’s largest companies, including Apple, Amazon, Google, and Facebook, among others.
5. Cryptocurrencies: FXGiants also offers trading on popular cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple, among others.

Traders can access these financial products through FXGiants’ trading platforms, including MetaTrader 4, MetaTrader 5, and WebTrader. The broker offers competitive spreads, leverage up to 1:1000, and access to a range of trading tools and resources to help inform traders’ decision-making processes. However, traders should be aware that trading forex and CFDs involves significant risks and may not be suitable for all investors.

FXGiants account types

FXGiants offers its clients a range of account types to suit different trading needs and experience levels. The available account types are as follows:

1. Micro Account: This account is designed for new traders who want to start with a smaller deposit. The minimum deposit for a Micro account is $100, and it offers a fixed spread from 1.2 pips.
2. Premium Account: This account is designed for more experienced traders who want access to a wider range of trading tools and features. The minimum deposit for a Premium account is $2,500, and it offers a floating spread from 0.7 pips.
3. Zero Fixed Spread Account: This account is designed for traders who prefer fixed spreads, with zero markups on spreads. The minimum deposit for a Zero Fixed Spread account is $500, and it offers a fixed spread from 0 pips.
4. STP/ECN Account: This account is designed for advanced traders who require direct market access and fast execution speeds. The minimum deposit for an STP/ECN account is $500, and it offers floating spreads from 0 pips.
5. Absolute Zero Account: This account is designed for traders who prefer zero spread trading, with a small commission charged per trade. The minimum deposit for an Absolute Zero account is $200, and it offers zero spreads from 0 pips.

All account types offer access to a range of trading tools and resources, including educational materials, trading signals, and market news. Clients can also access the broker’s trading platforms, including MetaTrader 4, MetaTrader 5, and WebTrader.

FXGiants trading fees

FXGiants charges trading fees in the form of spreads, commissions, and swaps (rollover fees). The fees charged by the broker depend on the account type chosen and the financial instrument being traded. Here’s a breakdown of the main trading fees charged by FXGiants:

1. Spreads: FXGiants offers variable spreads, which means the spread may widen or narrow depending on market conditions. Spreads start from as low as 0 pips for some account types and financial instruments.
2. Commissions: Some account types, such as the STP/ECN account and the Absolute Zero account, charge a commission per trade. The commission charged is dependent on the financial instrument being traded.
3. Swaps: FXGiants charges swaps (rollover fees) for positions held overnight. The swap rate charged varies depending on the financial instrument being traded and the direction of the position.

It’s important to note that trading fees are just one aspect of the overall trading cost. Other costs to consider include funding and withdrawal fees, as well as any inactivity or account maintenance fees. Traders should also be aware of the risks involved in trading forex and CFDs and the potential impact of trading costs on their profitability.

FXGiants Funding and Withdrawal Options

FXGiants provides its clients with a range of funding and withdrawal options to suit their needs. Here’s an overview of the available options, fees, and processing times:

1. Deposit Options: FXGiants supports a variety of deposit options, including bank wire transfer, credit/debit cards (Visa and Mastercard), Skrill, Neteller, and China UnionPay. Deposits are processed instantly, except for bank wire transfers, which can take 2-7 business days to clear.
2. Withdrawal Options: Clients can withdraw funds using the same method as their deposit. Withdrawals are typically processed within 24 hours, but it may take up to 5 business days for the funds to reach the client’s account, depending on the withdrawal method chosen.
3. Fees: FXGiants does not charge any deposit fees, but clients may be subject to fees charged by their payment provider. Withdrawal fees also vary depending on the withdrawal method chosen, with bank wire transfers incurring the highest fees.
4. Processing Time: Deposits are processed instantly, with the exception of bank wire transfers, which can take 2-7 business days to clear. Withdrawals are typically processed within 24 hours, but the time taken for funds to reach the client’s account varies depending on the withdrawal method chosen.

It’s important to note that clients may be required to provide additional documentation to verify their account before processing withdrawals. FXGiants also reserves the right to request additional documentation or information if deemed necessary. Clients should ensure they understand the terms and conditions of their chosen funding and withdrawal options before making any transactions.

FXGiants’ promotions

FXGiants offers various promotions to its clients from time to time. These promotions are designed to reward loyal clients and attract new traders to the platform. Here are some of the promotions currently offered by FXGiants:

1. Trading Bonuses: FXGiants offers various trading bonuses to clients who meet certain criteria, such as making a minimum deposit or meeting a trading volume requirement. These bonuses are credited to the client’s trading account and can be used to increase their trading capital.
2. Cashback Program: FXGiants offers a cashback program to clients who meet certain trading volume requirements. The cashback amount is calculated based on the client’s trading volume and can be withdrawn or used for trading purposes.
3. Trading Competitions: FXGiants occasionally hosts trading competitions where clients can win cash prizes and other rewards. These competitions typically require clients to meet certain trading volume requirements over a specific period.
4. Refer a Friend Program: FXGiants offers a refer a friend program where clients can earn rewards for referring new clients to the platform. The rewards vary depending on the number of clients referred and their trading activity.

It’s important to note that all promotions offered by FXGiants are subject to terms and conditions, which clients should read and understand before participating. Promotions may also have expiry dates, so clients should check the expiry dates of any promotions they wish to participate in.

FXGiants customer support

FXGiants provides customer support to its clients via multiple channels, including phone, email, live chat, and an online contact form. Here’s a breakdown of the different support options available:

1. Phone: Clients can call FXGiants’ customer support team at their international phone number during business hours. The phone number is available on the broker’s website.
2. Email: Clients can send an email to FXGiants’ support team using the email address provided on the broker’s website. The support team typically responds within 24 hours.
3. Live Chat: FXGiants’ live chat support is available 24/5 and allows clients to chat with a customer support representative in real-time.
4. Online Contact Form: Clients can also submit a query using the online contact form available on FXGiants’ website. The support team typically responds within 24 hours.

In addition to these support options, FXGiants also provides an extensive FAQ section on its website. The FAQ section covers a range of topics, including account registration, trading platforms, funding and withdrawals, trading conditions, and more.

Overall, FXGiants appears to provide a comprehensive customer support service to its clients, with multiple channels available for clients to choose from.

FXGiants Educational Resources

FXGiants provides its clients with a range of educational resources to help them improve their trading skills and knowledge. Here are some of the educational resources available on the platform:

1. Trading Videos: FXGiants offers a library of trading videos covering a range of topics, including trading strategies, technical analysis, and market news.
2. Trading eBooks: The broker also provides a range of trading eBooks covering topics such as forex trading, CFD trading, and risk management.
3. Webinars: FXGiants hosts regular webinars featuring industry experts and covering a range of topics related to trading.
4. Economic Calendar: The broker provides an economic calendar on its website, which shows upcoming economic events and their potential impact on the markets.
5. Market Analysis: FXGiants provides daily market analysis and commentary, covering major forex pairs, commodities, and indices.
6. Glossary: The broker provides a comprehensive glossary of trading terms, which can be useful for beginners who are unfamiliar with industry jargon.

Overall, FXGiants provides a solid range of educational resources for its clients, with something to suit traders of all levels. The educational resources are easily accessible through the broker’s website, and most of them are available free of charge.

Pros and cons of FXGiants

Pros:

1. Regulation and Safety: FXGiants is regulated by multiple authorities, including the FCA, CySEC, and ASIC, which provides clients with a high level of safety and security.
2. Range of Trading Products: The broker offers a wide range of trading products, including forex, commodities, indices, and shares, allowing clients to diversify their portfolios.
3. Multiple Trading Platforms: FXGiants offers clients a choice of several trading platforms, including MetaTrader 4, MetaTrader 5, and the FXGiants WebTrader, providing flexibility and choice for traders.
4. Education and Research: FXGiants provides a range of educational resources and market analysis tools to help traders improve their skills and knowledge.
5. Customer Support: The broker provides multiple channels of customer support, including phone, email, live chat, and an online contact form, making it easy for clients to get help when they need it.

Cons:

1. Limited Cryptocurrency Offerings: FXGiants does not offer as many cryptocurrency trading options as some other brokers, which may be a disadvantage for clients looking to trade digital assets.
2. High Spreads: Some of the spreads offered by FXGiants can be higher than those offered by other brokers, which can increase trading costs for clients.
3. Inactivity Fees: The broker charges inactivity fees for accounts that are not used for a certain period, which could be a disadvantage for clients who do not trade frequently.
4. Limited Bonuses and Promotions: While FXGiants does offer bonuses and promotions from time to time, these are not as frequent or generous as some other brokers.
5. Limited Trading Tools: FXGiants does not provide as many trading tools as some other brokers, which may be a disadvantage for more advanced traders looking for advanced charting and analysis tools.

Overall, while there are some potential disadvantages to trading with FXGiants, the broker appears to provide a solid range of trading products, educational resources, and customer support, making it a suitable choice for traders of all levels.

Frequently asked questions about FXGiants

Is FXGiants regulated?

Yes, FXGiants is regulated by multiple authorities, including the FCA, CySEC, and ASIC.

What trading platforms does FXGiants offer?

FXGiants offers several trading platforms, including MetaTrader 4, MetaTrader 5, and the FXGiants WebTrader.

What products can I trade with FXGiants?

FXGiants offers a wide range of trading products, including forex, commodities, indices, and shares.

Does FXGiants charge fees for deposits and withdrawals?

FXGiants does not charge fees for most deposit and withdrawal methods, but some methods may incur fees.

What is the minimum deposit requirement for FXGiants?

The minimum deposit requirement for FXGiants varies depending on the account type chosen, but it starts from $100.

Does FXGiants offer a demo account?

Yes, FXGiants offers a demo account that allows clients to practice trading in a risk-free environment.

Does FXGiants offer educational resources?

Yes, FXGiants provides clients with a range of educational resources, including trading videos, eBooks, webinars, and market analysis tools.

What is the customer support like at FXGiants?

FXGiants provides multiple channels of customer support, including phone, email, live chat, and an online contact form, making it easy for clients to get help when they need it.