FXGiants Forex Broker

Note: FXGiants official site - https://www.fxgiants.com/fxg-au/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information & Regulation Feature Information Registered Country/Region Australia Found 2015 Regulation Suspicious clone Market Instrument Forex currency pairs, commodities, cryptocurrencies, stocks, indices, metals, energy, and CFDs Account Type Live and SPT/ECN Demo Account N/A Maximum Leverage 1:1000 Spread Vary on the account type Commission Vary on the account type Trading Platform MT4 Minimum Deposit N/A Deposit & Withdrawal Method bank transfers, Visa, MasterCard, Skrill, Neteller and coinbase Founded in 2015, FXGiants is an online broker that offers retail and institutional traders across the globe access to trade over 200+ instruments from multiple asset classes. FXGiants AU is a trading name of Notesco Pty Limited, which is regulated by the Australian Securities and Investments Commission (Regulatory Number: 417482), however, this license is suspected to be a clone one. Note: The screenshot date is February 1, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores. Market Instruments FXGiants offers investors access to over 200 financial instruments, including 70+ Forex currency pairs, commodities, cryptocurrencies, stocks, indices, metals, energy, and CFDs. Account Types The accounts offered by FXGiants are divided into two categories – Live and SPT/ECN. Live accounts include three types: Live Floating Spread account, Live Fixed Spread account, and Live Zero Fixed Spread account. SPT/ECN accounts are also divided into three types. Leverage For Live accounts, the FXGiants offers very high leverage of up to 1:1000, and up to 1:200 for SPT/ECN accounts. Unregulated brokers usually offers high trading leverage, so investors should learn how to manage leverage and employ risk management strategies to mitigate forex losses. Spreads & Commissions According to the description of the three types of Live Accounts, FXGiants offers, respectively, a variable spread from 1 pip with no commission, a fixed spread of 1.2 pips with no commission, and a fixed zero spread with a commission of $9 per lot per side. SPT/ECN accounts are also divided into three types - with variable spreads from 1.7 pips with no commission, with variable spreads from 0.0 pips with a commission of $3.75 per lot per side, and with variable spreads from 0.2 pips with no commission. Trading Platform FXGiants offers traders the most popular MT4 trading platform, which is highly praised by traders and brokers alike due to its ease of use and great functionality. It is available for Windows, Mac OS and Linux operating systems as well for Android and iOS mobile devices. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors. Trading Tools Whilst there is already a vast array of tools built into the provided trading platforms, FXGiants also offers some additional tools that can be used to assist with your trading. These trading tools include myfxbook auto trade, free virtual private server (VPS), and educational trading videos. Deposit & Withdrawal FXGiants welcomes traders to deposit and withdraw funds from their investment accounts via bank transfers, and credit/debit cards like Visa and MasterCard, Skrill, Neteller and coin base. Bonuses & Fees FXGiants also offers various deposit bonuses. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients. If the account has been inactive for 12 months, a $50 fee is charged. There is another administrative fee of $60 “In the instance where a chargeback is placed either intentionally or unintentionally for any deposit made in a Clients Account”. Customer Support The FXGiants customer support team is available 24/5 via online chat, telephone:+61 286 078 189 and email: support@fxgiants.com.au. Support is multilingual, with toll-free numbers for various countries on the website. The online chat customer services team are very quick with their responses. You can also follow this broker on social networks such as Twitter, Facebook, and Instagram. Pros & Cons Pros Cons • Multiple trading assets, account types and funding options • Suspicious clone • MT4 supported • Website inaccessible • Free VPS • US clients are excluded • Various fees charged Frequently Asked Questions (FAQs) Q 1: Is FXGiants regulated？ A 1: No. It has been verified that FXGiants holds a suspicious clone Australia Securities & Investment Commission (ASIC) license. Q 2: At FXGiants, are there any regional restrictions for traders？ A 2: Yes. US clients are not accepted. Q 2: Does FXGiants offer the industry-standard MT4 & MT5？ A 2: Yes. FXGiants supports MT4. Q 3: Does FXGiants charge a fee？ A 3: Like every forex broker, FXGiants charges a fee when you trade - either in the form of a commission fee or spread fee. It also charges an inactivity fee and an administration fee. Q 4: Is FXGiants a good broker for beginners？ A 4: No. FXGiants is not a good choice for beginners. Though it seems to offer competitive trading conditions, it lacks legitimate regulation.