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FXGiants Review

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FXGiants Overview

FXGiants is a leading online Forex and CFD’s broker that was established in 2015. They offer trading services across commodities, indices, FX, shares and even futures. Regulated by the UK Financial Conduct Authority (FCA), FXGiants provide online trading services for more than 200 different types of financial instruments to clients from more than 150 countries around the world. The brainchild of a group of experts in the financial industry, FXGiants is committed to providing their clients with a fulfilling trading experience by using the latest cutting-edge technology and by providing them with the highest standard of services.


FXGiants Regulations

FXGiant has regulations spanning the globe.
• They are regulated by the UK FCA under the license number 585561

• FXGiants is also regulated by the Australian Securities and Investment Commission (ASIC) under the AFSL number 417482. In Australia, the FXGiants brand is managed by a different company of the group called GVS (AU) Pty Limited. In other words, FXGiants is a well regulated Forex broker that is compliant with both UK and Australian laws.


FXGiants Reliability

Although FXGiants is a relatively young broker, the age of the broker does not in any way affect its reliability. In fact, this has motivated FXGiants to strive harder to gain the trust of traders in the online community. We can clearly see this from the fact that FXGiants has put in considerable efforts to be regulated not just in one jurisdiction but in two different jurisdictions within 2 short years of its being operational.

By being regulated, FXGiants is able to offer its traders the assurance that their money is safe with this broker. In addition, FXGiants’ traders know that their broker is under constant supervision by the FCA and ASIC ensuring that FXGiants conducts its operations fairly and with transparency. Furthermore, in the event that FXGiants UK is faced with an insolvency issue, traders’ funds are protected under the Financial Services Compensation Scheme up to a maximum amount of 50,000 pounds. FXGiants UK also offers its clients’ funds additional protection by providing excess coverage on top of FSCS insurance cover, at no extra cost and in the total amount of £1,000,000 per client in the unlikely event of its default. Finally, with FXGiants’ automated risk management system, traders at FXGiants will never have to worry about their trading account balance going into a negative state.


FXGiants Trading Platforms

To provide their traders with access to the financial markets, FXGiants has provided its traders with the MetaTrader 4 (MT4) trading platform developed by MetaQuotes Software. This trading platform is the most popular Forex trading platform among all the trading platforms available in the industry. This is evident from the fact that more than 80% of the Forex brokers in the industry have adopted this trading platform as their main platform.

The MT4 trading platform is also hugely popular among traders as it is user-friendly and robust. The advanced charting package and a wide range of technical indicators that comes integrated with the trading platform also goes a long way towards enhancing a trader’s market analysis. However, the most powerful feature of the MT4 trading platform is its ability to support automated trading with the use of Expert Advisors (EAs). For traders who are computer savvy, they can also program their own EAs with the built-in MQL 4 language. Other features of the MT4 platform include the following:

• Activity Reports

• Advanced Charts

• Advanced security system

• Equity and exposure online management

• Real-time News Feeds

• Real-time quotes

• Support Trading Signals

• Support various types of trading orders

It should be noted that the MT4 platform is available in several versions such as MT4 for PC and MT4 for Mac.

Mobile Trading

For traders who wish to trade while they are on the move, mobile-friendly versions of the MT4 trading platform are also available for download on Google Play Store and Apple’s App Store. These mobile trading apps are optimised for mobile devices and smartphones and permit traders to monitor their trading account as well as to execute trades.


FXGiants Trade Types/Instruments

In terms of instruments that are available for trading at FXGiants, they include spot forex, spot metals, and contracts for difference (CFDs) on more than 200 different assets. These assets are selected from different asset classes such as currencies, commodities, equities, and futures.


FXGiants Account Types

For trading account types, there are 5 different types of trading accounts to choose from. They include the following:

Micro Account

• Min Deposit of $100

• Fixed or Floating Spreads

• Min Lot Size: 0.01

• 24/5 Account Manager

Premium Account

• Min Deposit $2500

• Fixed or Floating Spreads

• Min Lot Size: 0.1

• Dedicated Account Manager 24/5

0 Fixed Spread Account

• Min Deposit $500

• Min Lot Size: 0.01

• 24/5 Account Manager

• Commission from $18/Lot

STP/ECN No Commission Account

• Min Deposit $500

• Min Lot Size: 0.01

STP/ECN 0 Account

• Min Deposit $500

• Min Lot Size: 0.01


FXGiants Commissions & Spreads

At FXGiants, commission charges are applicable on only the 0 Fixed Spread account. Traders trading with this account are required to pay a commission of $18 per lot traded. For other types of trading accounts, traders are only required to pay a small spread on the trades that they make. The spread can either be fixed or floating depending on the trader’s preference. For the Micro account, the fixed spread can be as low as 2.2 pips and the floating spread as low as 1.1 pips. For the Premium account the minimum floating and fixed spreads are 0.7 pips and 1.2 pips respectively.

 


FXGiants Deposits & Withdrawals Options

FXGiants has made the process of funding the trading account as convenient as possible by providing several methods which traders can use to fund their trading account with. Supported methods include major credit cards such as MasterCard and VISA, eWallets such as NETELLER, Skrill and UnionPay China, Fasapay, EcommPay, Safecharge, and DotPay. Alternatively, traders can also use bank wire transfer to fund their trading account if they have no access to a credit card or eWallet.

For withdrawals, the method used depends on the initial method which was used for depositing funds into the trading account. For example, if a trader uses his credit card for making a deposit into his FXGiants’ trading account, then the withdrawal will be channeled through the trader’s credit card.

For withdrawals, certain fees apply by the payment providers. For credit card withdrawals, there is an EUR 1.50 fee for each withdrawal. For eWallets withdrawal, the applicable fee ranges between 1% and 2% of the amount withdrawn. Nevertheless, these fees are just indicative of what the traders have to pay. However, the precise fee charged depends on which eWallet is used.


FX Giants Bonus & Promotions

At present, FXGiants is offering traders several types of bonus including a 20% trading bonus on the amount that the trader deposited into his trading account. There is also a 100% Bonus Maximiser which qualifying traders can use to further extend their limited trading capital for free.


FX Giants Customer Support

The customer support at FXGiants is available on a 24/5 basis. To get in touch with FXGiants’ customer support, traders can contact the support team through email, live chat or by calling them on the telephone. For the benefit of non-English speaking traders, FXGiants’ website is also translated into a dozen different languages.


FXGiants Pros & Cons

 

Pros

• Five types of trading accounts

• Low Minimum Initial Deposit Requirement

• MetaTrader 4 Trading Platform Provided

• Regulated Broker

• Wide Range of Instruments

Cons

• No Web-Based Trading Platform

• Only MetaTrader trading platform supported


FXGiants Q&A

• Is FXGiants regulated?

Yes. FXGiants is a regulated broker in the UK and in Australia. In the UK, it is regulated by the FCA. In Australia, the regulatory agency in charge of regulating FXGiants’ operations is ASIC.

• Where is FXGiants based?

FXGiants is based in the UK and in Australia.

• How does FXGiants make money?

FXGiants makes its money by charging its traders a small commission and spread on the trades that they make. The spreads can either be in the form of fixed spreads or variable spread.

• How to deposit in FXGiants account?

To deposit funds into their trading account at FXGiants, traders can use their credit cards, eWallets or bank wire transfer.

• How to withdraw money from FX Giants?

To withdraw money from an FXGiants’ trading account, the withdrawal can be channeled through the trader’s credit card, eWallet or by bank wire transfer.

• How to open an account with FXGiants?

To open a trading account at FXGiants, simply fill out the registration form and submit it to FXGiants. Once your application is approved and you have made a deposit into your trading account, you will be able to start trading.

• Is FXGiants reliable?

Yes. FXGiants has demonstrated its reliability by being regulated in 2 different jurisdictions. In addition, they have provided their traders with a proven trading platform.

• Does FXGiants use MetaTrader?

Yes. FXGiants uses the MetaTrader as their main trading platform. The trading platform is also available in several versions such as MT4 for Mac and MT4 for mobiles.

• Is FXGiants a scam? How safe is FXGiants?

No, FXGiants is not, as it is regulated and has been operational since 2015. In terms of safety, FXGiants uses SSL encryption technology to protect the integrity of their clients’ data and personal information.


Conclusion

With the strong regulatory oversight and ultra-tight spreads offered by FXGiants, it is of little wonder why this broker has managed to gain a strong following of loyal traders within a few short years that it has been operational. In addition, FXGiants has made it extremely affordable to open a live trading account with their low minimum initial deposit requirement of $100 and generous bonuses. There is no doubt that FXGiants has proven itself to be a beginner friendly broker.

 

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