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FXGT.com Forex Broker provides real users with 5 positive reviews, 2 neutral reviews and 46 exposure review!

FXGT.com Broker Review

Rating Index

Pros

Low minimum deposit requirement starting at $5, making it accessible for new traders.
Offers a wide range of trading instruments including forex, cryptocurrencies, stocks, and indices.
Regulated by multiple authorities, providing a level of security and trust for clients.

Cons

Average fees are higher compared to some other forex brokers, which may impact profitability.
Lack of participation in compensation schemes, meaning clients may not have protection in case of broker insolvency.
Limited customer support options as phone support is not available, which may hinder assistance for some traders.

FXGT.com Review 53

Latest All(53) Positive(5) Neutral(2) Exposure(46)
Exposure
I can't withdraw money

I deposited 693 dollars to my account, I made a profit of 568.94 dollars, but my withdrawal request was rejected. They only allowed me to withdraw my principal, but they did not pay the profit.

turgut
2024-04-12
Exposure
Can't withdraw money, money is lost (fraudulent broker)

Press to withdraw money from this broker. It takes a very long time to withdraw. Pressed to withdraw money from wallet to 1779.41 USD. The money was not credited to the account. and only 480 USD was returned to the wallet, 1299.41 USD of withdrawal money was lost. The broker is considered to be cheating customers' money.

ดา8432
2024-04-11
Exposure
Fxgt Scam

I requested a withdrawal and 1 hour later, I received an e-mail stating that my account was closed and that I could no longer log in to the panel or my meta account. They close all communication channels without any explanation and do not even allow you to send feedback or ask the reason. This institution is a fraud, friends. I had a balance of 5000 dollars, I withdrew 4000, and I still had 1000 dollars. Yesterday, I made 2 transactions based on inflation data, I ended the transaction with a profit of 350-400 dollars, and I requested a withdrawal the next day (today). We will not pay as a result!! reason? what is the reason???

asli398
2024-04-11
Exposure
My profit was deducted by FXGT broker and I was asked to withdraw only my capital.

I applied for the broker FXGT on 4/4/2024, added 1500 to trade XAUUSD by buying 1 lot, but lost capital until the capital was left at 0. On 5/4/2024, added another 3000, traded the same way, Buy XAUUSD 2 lot in In the morning, in the afternoon, there was a profit, total costs were 6352 US, so the order was closed. When it's all withdrawn cannot be withdrawn They said that the system was delayed. On Monday evening, they seized all the money in the account, leaving only 3000. They were sent an email saying that they had broken the rules. We would like to kindly inform you that at 05/04/2024, the Company has decided to proceed. with blocking of your account(s) with the Company, following the suspicions of the Company that your recent trading activity resulted in an exploitation and/or abuse, including without limitation, hedging practices and exploitation of the bonus/incentives schemes or promotions offered by the Company.In line with Clauses 8.6. and 8.8. of the Terms and Conditions, you have agreed to, the Company is entitled to proceed with all required actions to prevent and/or tackle any attempts of trading abuse. As already mentioned above, the Company is proceeding with blocking your account(s) with the Company, resulting to a rejection of your withdrawal request.Should you have any questions or require any clarification, feel free to contact our Support team.I objected that Did nothing, traded normally, opened account only 2 days ago and have responded that we understand your concerns. At this stage, we would like to inform you that the company's decision is final and binding. Further information regarding this violation will be sent to you via a ticket, however. If you would like your issue to be investigated further, Please file a complaint via the following link. The relevant department will then investigate your problem and respond as soon as possible: https://fxgt.com/complaints-solution-procedure/ When I clicked on the link, I couldn't find anything. It's like being tricked by a broker into trading and then being able to withdraw money after making a profit. If you don't have money to pay, it's illegal. The trading account was closed. Going to see evidence of trading via Mt5 is not possible.

on1925
2024-04-11
Exposure

fxgt does not give the profit I made. I funded $1300 and made a profit of $726. The institution asked me to write off my profit and withdraw 1300 dollars, but they do not give my profit. I request that this issue be corrected

Burcu
2024-04-09
Exposure
Rejection of withdrawal request

I made hundreds of transactions and dozens of withdrawals at fxgt, where I opened an account on 24.01.2024. I'm not even mentioning the swap + high spread levels I paid. I was shocked by an e-mail I received on 09.04.2024 (today). Although there was no transaction error or irregular transaction opening (I reported this to them and asked them to send me the transaction ID and let me know about the transactions you see as problematic), my account was closed and my money was confiscated. The money I deposited + my profit was completely withdrawn from my account and became unwithdrawable. When I contacted them about this, they did not explain. I am adding my communication, account history, and transactions respectively.

burak4632
2024-04-09
Exposure
They set my balance to 0 and deleted my members

Hello While I was trading with gold in Forex and I was in a profit position in my account, they suddenly deleted the credit and sent me an e-mail stating that I was abusing the negative balance protection. I closed my transactions and responded to their request. I do not think that I made any mistakes or mistakes. All my transactions were always in a profit position. There was no decrease in which I could use the bonus. Then they examined my account and 6 days later they sent me an e-mail saying that I had broken the rules. They reduced the balance in my account to 0 and closed my account. I asked them to provide me with evidence indicating which or where I made a mistake or abused it, but they did not.

ihsancunedioglu
2024-04-09
Exposure
They suspended my membership and reset my balance

Hello, while I was trading with gold in Forex and I was in a profit position in my account, they suddenly deleted the credit and sent me an e-mail, stating that I was abusing the negative balance protection. I closed my transactions and responded to their request. I do not think that I made any mistakes or mistakes. All my transactions were always in a profit position. There was no decrease in which I could use the bonus. Then they examined my account and 6 days later they sent me an e-mail saying that I had broken the rules. They reduced the balance in my account to 0 and closed my account. I asked them to provide me with evidence indicating which or where I made a mistake or abused it, but they did not.

ihsancunedioglu
2024-04-09

FXGT 2025 In-Depth Review: Opportunity or Trap?

Executive Summary

FXGT.com has emerged in the online trading landscape as a regulated broker offering an enticing blend of forex, cryptocurrency, and other asset classes, all backed by a remarkably low minimum deposit of just $5. This accessibility is designed to attract both novice and experienced traders seeking affordability while navigating various financial markets. However, alongside its impressive offerings lies a concern: mixed user reviews regarding fund safety and withdrawal reliability. Many users have reported challenges with fund access, raising questions about the broker's trustworthiness in safeguarding client investments.

⚠️ Important Risk Advisory & Verification Steps

Engaging in trading with FXGT.com involves certain risks. Prospective clients should consider the following precautions:

  • Regulatory Review: Verify FXGT's registration with financial regulatory bodies like the FSA (Seychelles), FSCA (South Africa), and VFSC (Vanuatu) before proceeding.

  • User Feedback Evaluation: Check independent reviews to further understand user sentiment regarding funding and withdrawal experiences.

  • Risk Awareness: Be aware of high leverage options (up to 1:1000), which can amplify losses as easily as gains for inexperienced traders.

Ensure thorough research and questioning before committing funds:

  • Visit regulatory websites like the FSA, FSCA, and VFSC to confirm FXGT's status.
  • Read user testimonials and reviews about deposit and withdrawal processes.
  • Assess your risk tolerance concerning leveraged trading products.
  • Rating Framework

    Dimension Rating (out of 5) Justification
    Trustworthiness 3.5 Regulatory concerns and withdrawal issues reported by users.
    Trading Costs 4.0 Low commissions with competitive spreads, but fees can be complex.
    Platforms & Tools 4.2 Offers MT4 and MT5 with additional trading tools for advanced analysis.
    User Experience 3.5 User interface is generally intuitive, but withdrawal processes can be unclear.
    Customer Support 4.0 24/7 support in multiple languages, but lacks phone support.
    Account Conditions 3.8 Low minimum deposit but high leverage presents risks for new traders.

    Broker Overview

    Company Background and Positioning

    Founded in 2021, FXGT.com operates under 360 Degrees Markets Ltd and is headquartered in Seychelles. It is regulated by several authorities, including the Seychelles Financial Services Authority (FSA) and the Financial Sector Conduct Authority (FSCA) in South Africa. The broker aims to provide various trading opportunities across forex, cryptocurrencies, commodities, and indices while maintaining accessibility through a low minimum deposit requirement, making it an attractive choice for both novice and experienced traders.

    Core Business Overview

    FXGTs brokerage model offers traders access to multiple asset classes designed to fit different trading strategies and styles. It provides accounts tailored to diverse needs, including a mini account for beginners, standard and pro accounts for experienced traders, and an ECN account with raw spreads for high-frequency traders. The broker additionally supports both MetaTrader 4 and 5 platforms, catering to users looking for sophisticated trading tools.

    Quick-Look Details Table

    Feature Details
    Regulation FSA (Seychelles), FSCA (South Africa), VFSC (Vanuatu)
    Min. Deposit $5
    Leverage Up to 1:5000
    Major Fees Variable spreads, no deposit/withdrawal fees
    Withdrawals Processed within 1-2 business days
    Trading Platforms MT4, MT5

    In-depth Analysis of Each Dimension

    6.1 Trustworthiness Analysis

    Analysis of Regulatory Information Conflicts

    Despite FXGT's claims of regulation by multiple authorities, the credibility of these bodies is often questioned. The Seychelles FSA, for instance, is seen as less stringent compared to tier-1 regulators like the FCA in the UK. Concerns arise from clients reporting issues regarding withdrawals and fund accessibility, suggesting potential gaps in the broker's operational integrity.

    User Self-Verification Guide

    To assess the legitimacy of FXGT:

    • Visit the website of the Seychelles FSA, FSCA, and VFSC.
    • Utilize the provided licenses to check registration status.
    • Review user feedback from independent sources.
    • Assess the effectiveness of the brokers risk management strategies.
    • Industry Reputation and Summary

      User feedback highlights a troubling trend:

      "I had an account where I made money through forex. There was no problem withdrawing money... but when I wanted to withdraw my $4,000, it was said that my withdrawal was not approved."

      This exemplifies widespread concerns about FXGTs withdrawal processes and the overall trustworthiness of the broker.

      6.2 Trading Costs Analysis

      Advantages in Commissions

      FXGT offers competitive trading conditions with low commissions:

      • No withdrawal or deposit fees
      • Spreads can be as low as 0.2 pips on the EUR/USD for ECN accounts.

      The "Traps" of Non-Trading Fees

      However, issues arise with withdrawal fees and minimum amounts. For instance, users have reported unexpected fees of $30 on certain accounts upon withdrawal, discouraging frequent transactions.

      Cost Structure Summary

      The cost structure presents a mixed bag depending on the account type:

      • Mini and Standard accounts have starting spreads from 10 pips, becoming less favorable for high-frequency trading.
      • ECN accounts offer competitive initial spreads, offset by a commission of $6 per lot, which can accumulate rapidly for active traders.

      6.3 Platforms & Tools Analysis

      Platform Diversity

      FXGT supports both MT4 and MT5, providing traders with a robust platform experience:

      • MT5: Offers advanced analytics and additional features compared to MT4.

      Quality of Tools and Resources

      The platform includes various tools for technical analysis, real-time news, and an economic calendar, providing valuable resources for informed decision-making. This enhances the trading experience, especially for more advanced traders.

      Platform Experience Summary

      User feedback often highlights the ease of navigation on the platform:

      "The interface is straightforward... I like how I can easily find my way around."

      However, withdrawal processes can detract from the overall user experience, with some clients lamenting delays and lack of clarity.

      6.4 User Experience Analysis

      The user experience generally ranks positively; however, the complications with withdrawals create barriers for some users. FXGTs interface is hailed for its design and usability, especially for newcomers. Nevertheless, lack of clear guidelines for withdrawals undermines the overall satisfaction.

      6.5 Customer Support Analysis

      FXGT offers 24/7 customer support across various platforms; however, the reliance on email and live chat can lead to longer response times:

      "While customer support is responsive, they could enhance their efficiency by incorporating phone support as well."

      6.6 Account Conditions Analysis

      FXGTs account conditions, targeting both novice and seasoned traders, include:

      • Low minimum deposit ($5).
      • Different leverage options up to 1:5000, making it attractive for both entry-level and professional traders.

        However, the broker's high leverage presents a significant risk for inexperienced traders.

      Conclusion

      FXGT.com emerges as a broker with both beneficial offerings and considerable concerns. While low entry barriers and varied account types attract traders, ongoing concerns about fund safety and withdrawal reliability persist. Potential clients are encouraged to approach with caution, performing detailed evaluations of user experiences and the broker's operational integrity before investing.

      Traders who require strong regulatory oversight and reassurance regarding withdrawal processes may want to explore alternatives or ensure thorough understanding of the risks involved before committing.

FXGT.com review