FXGT.com Forex Broker
Basic Information
Seychelles
5-10 years Regulated in Cyprus Regulated in Seychelles Regulated in South Africa Regulated in Vanuatu Market Maker (MM) Retail Forex License Retail Forex License Financial Service MT5 Full License Self-developed High potential risk Offshore RegulatedCompany profile
Rating Index
Pros
Low minimum deposit requirement starting at $5, making it accessible for beginners.
Wide range of trading assets, including forex, stocks, metals, indices, and cryptocurrencies.
Regulated by multiple authorities, providing a level of trust and security for traders.
Cons
Average fees are higher compared to some competitors, which may impact overall profitability.
Limited educational resources available, potentially hindering the development of novice traders.
Not available to clients in certain jurisdictions, including the United States and EU countries, restricting market access.
FXGT.com Broker - Complete Information Guide
1. Broker Overview
FXGT.com, founded in 2019, is a prominent online trading platform that specializes in forex and CFD trading. The company is operated by 360 Degrees Markets Ltd., which is headquartered in Seychelles. FXGT.com is a privately held entity, providing a secure trading environment for a diverse clientele, including retail traders and institutional investors.
The broker has rapidly evolved since its inception, establishing itself as a competitive player in the financial markets. It has expanded its services to cater to a global audience, particularly focusing on regions such as Asia and Africa. FXGT.com has also made significant strides in integrating cryptocurrency trading into its offerings, allowing traders to access a wide range of digital assets.
FXGT.com operates on a hybrid business model, providing both retail forex trading and institutional services. This unique approach enables the broker to offer a comprehensive suite of financial instruments, including traditional forex pairs, commodities, indices, and cryptocurrencies. As a result, FXGT.com broker has positioned itself as a versatile platform for traders seeking various investment opportunities.
2. Regulatory and Compliance Information
FXGT.com is regulated by several reputable authorities, ensuring a level of security and trust for its clients. The primary regulatory bodies overseeing FXGT.com include:
- Seychelles Financial Services Authority (FSA) - License Number: SD 019
- Financial Sector Conduct Authority (FSCA) - License Number: 48896
- Vanuatu Financial Services Commission (VFSC) - License Number: 700601
- Cyprus Securities and Exchange Commission (CySEC) - License Number: 382/20 (applicable only for institutional clients)
These regulatory licenses provide FXGT.com with the framework to operate within the legal standards set by each authority, ensuring compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.
FXGT.com implements a strict client fund segregation policy, ensuring that all client deposits are held in separate accounts from the companys operational funds. This measure enhances the security of client assets, providing additional peace of mind for traders. However, it is important to note that FXGT.com is not a member of any investor compensation fund, which means clients may not have access to compensation in the event of broker insolvency.
3. Trading Products and Services
FXGT.com offers a diverse range of trading products, catering to various trading styles and preferences. The broker provides access to:
- Forex Pairs: FXGT.com offers over 53 currency pairs, including major, minor, and exotic pairs, allowing traders to capitalize on global forex market movements.
- CFD Products: Traders can engage in CFD trading across several categories, including:
- Indices: Major global indices such as the S&P 500 and FTSE 100.
- Commodities: Precious metals like gold and silver, as well as energy products.
- Stocks: CFDs on shares of leading companies.
- Cryptocurrencies: A wide range of digital currencies, including Bitcoin, Ethereum, and others.
- Synthetic Cryptos: Unique products that mimic the price movements of traditional cryptocurrencies.
FXGT.com also regularly updates its product offerings, introducing new instruments to meet the evolving needs of traders. The platform supports both retail trading services and institutional client services, ensuring a holistic trading experience.
4. Trading Platforms and Technology
FXGT.com provides its users with access to the highly regarded MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms are known for their advanced trading capabilities, including:
- MT4 and MT5 Support: Both platforms are available for desktop, web, and mobile devices, ensuring traders can access their accounts anytime and anywhere.
- Execution Modes: FXGT.com employs a market execution model, allowing for fast and efficient trade execution.
- Advanced Features: MT5 offers additional functionalities such as advanced charting tools, customizable indicators, and algorithmic trading support through Expert Advisors (EAs).
- API Access: The broker supports automated trading strategies, providing traders with the tools necessary for algorithmic trading.
The technology infrastructure at FXGT.com is robust, with servers located in strategic locations to ensure low latency and high-speed transactions.
5. Account Types and Trading Conditions
FXGT.com offers a variety of account types to cater to different trading needs:
- Standard Account: Requires a minimum deposit of $5, with spreads starting from 10 pips. This account type is suitable for beginners.
- Pro Account: Designed for experienced traders, offering tighter spreads starting from 5 pips and no commission fees.
- ECN Account: Provides direct market access with raw spreads starting from 0.0 pips, but incurs a commission of up to $6 per lot.
- Mini Account: Ideal for traders looking for smaller trade sizes, with a minimum deposit requirement of $5 and commission-free trading.
- Islamic Account: Available for traders adhering to Islamic finance principles, ensuring no swap fees are charged.
FXGT.com allows for leverage of up to 1:1000, providing traders with the ability to control larger positions with a smaller capital outlay. The minimum trade size across accounts is set at 0.01 lots, offering flexibility for traders to start with minimal risk.
6. Fund Management
FXGT.com supports a variety of deposit and withdrawal methods, ensuring convenience for its clients. The available options include:
- Deposit Methods: Clients can fund their accounts through bank transfers, credit/debit cards, and various e-wallets, including Neteller and Skrill. The minimum deposit requirement is $5, and most methods offer instant processing.
- Withdrawal Methods: Withdrawals can be made using the same methods as deposits, with processing times varying from instant to a few business days, depending on the method used. FXGT.com does not charge any withdrawal fees.
- Minimum Withdrawal Amount: The minimum withdrawal amount is also set at $5, making it accessible for traders of all levels.
- Inactivity Fees: Accounts that remain inactive for over 90 days may incur inactivity fees, so traders should remain active to avoid additional charges.
FXGT.com broker ensures a transparent fee structure, with no hidden charges for deposits or withdrawals.
7. Customer Support and Educational Resources
FXGT.com prides itself on providing excellent customer support to its clients. The available support channels include:
- Live Chat: Accessible 24/7 for real-time assistance.
- Email Support: For more detailed inquiries, clients can reach out via email.
- Phone Support: Available for urgent issues, although specific phone numbers may vary by region.
- Multilingual Support: FXGT.com offers support in multiple languages, catering to its diverse client base.
In terms of educational resources, FXGT.com provides basic materials, including:
- Ebooks: Covering fundamental trading concepts and strategies.
- Market Analysis: Regular updates on market sentiment and technical analysis.
- Economic Calendar: Keeping traders informed about significant market events.
While the educational offerings are somewhat limited, they serve as a foundation for novice traders to build their knowledge.
8. Regional Coverage and Restrictions
FXGT.com operates in several key markets, primarily focusing on Asia and Africa. The broker has established offices in multiple regions, including Seychelles, South Africa, and Cyprus. However, it is important to note that FXGT.com does not accept clients from certain countries, including:
- United States
- United Kingdom
- Canada
- Iran
- North Korea
This restriction is due to regulatory compliance and the broker's operating licenses, which do not permit services in these jurisdictions. Traders should verify their eligibility before opening an account with FXGT.com.
In summary, FXGT.com broker stands out as a versatile trading platform offering a wide array of financial instruments, competitive trading conditions, and robust customer support. As a regulated entity, it provides a secure trading environment, although potential clients should consider the limitations associated with its offshore regulation and the absence of certain investor protections.
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Latest Reviews
Casamingos
Philippines
This broker is a scam. I can imagine they make a lot from slippage as commision. Their slippage is really severe at ond time that my account got blown few minutes after I opened a XAU/USD trade. I was so devasted as it has never happened before. My trading career took a hit from that event. Newbies, stay away from FXGT with every power you have. You will end up losing money my friend.
Exposure
09-09
sarphes
India
I entered 0.9 lots of gold and got a profit of 1089.37$ but then FXGT called me in violation because I was trading with another account. They placed an order of 1.02 lots and got negative 1400$ and revoked my profit. The order entry time is different, the profits and negative numbers are different but they say it's the same person, which is absurd.
Exposure
08-27
FX2199019902
Singapore
I am a registered user of your FXGT platform, my account is: [448639]. I have long been a loyal user of your platform, always adhering to the rules. This complaint is mainly against two associated serious issues: One, the platform unreasonably rejects my legal withdrawal request without any reasonable explanation or evidence. The origin of the fund is completely legal and compliant. However, after submitting the withdrawal request, it was not transferred in time as before, but was rejected by the platform. I immediately contacted online customer service for the reason, and the response was perfunctory, claiming a violation of terms and conditions. When I asked the customer service to specify: 1. Which platform rule was violated? 2. What does the so-called violation refer to? Please provide solid evidence. For the above critical issues, customer service could not give a direct, specific reply, but shirked the issue with "this is a system judgment, we cannot intervene". This groundless rejection is essentially an unreasonable encroachment on my legal property rights by the platform. Two, the platform unilaterally and compulsorily restores my account login permission, trying to "cold deal" with the issue without resolving the withdrawal issue. After the withdrawal was rejected, my account was temporarily unable to log in or function limited. But what is infuriating is that the platform unilaterally closed my account login permission without any communication and without any solution to the withdrawal problem. My demands are: 1. Immediate unfreeze of funds: Require the platform to immediately lift the freeze on the funds (1957.11) in my account, and complete the withdrawal operation, allowing the funds to successfully reach my binding account. 2. Provide written explanation: Request the platform to provide an official, credible written explanation for this "unreasonable refusal to withdraw" and "abnormal account control" incident, explaining the specific and true reason for the initial determination of account abnormalities. 3. Formal apology: Require the platform to formally apologize for the time cost, mental distress, and rights damage caused by this incident. This incident has severely damaged my trust in your platform, and it has caused me to seriously doubt your platform's fund security and user rights protection mechanism. I will have to take the following measures to protect my rights: • Report to the State Market Supervisory Administration, the China Internet Finance Association, and other related departments. • Expose this issue through the Consumer Association, media, and other channels. I look forward to your serious handling and prompt reply.
Exposure
10-10