With the role of an FX trader, you should gain a deeper insight into FXGiants review before making your final decision. In this circumstance, I make sure that you can realize other reviewers were good while the others can not recognize this much positive.
However, the fact is each broker brings advantages and disadvantages or I’ve to opt for one from all those brokers who might care about the leading requirements.
In this blog post, I attempted to collect the perks and drawbacks of FXGiants so that you might rapidly move your vision to its primary attributes and determine whether it meets your demands or not.
 Featured | No deposit bonus is a cool thing that I don’t see very often at forex brokers. And overall the promotion system of the broker is quite attractive. |
Overview of FXGiants
The FXGiants is known as a foreign trading broker, often called Financial Product Authority regulated. This focuses on a wide range of offers to key investors in more than 150 nations around the world.
In addition, FXGiants is a familiar registered business name of 8Safe UK, an organization authorized by the Financial Conduct Authority. On top of it, its sister organization, GVS Limited is working around Australia like FXGiants. It can be regulated by both the Investments Commission and Australian Securities.
Established in 2016, this was a member of the IronFX family. Then, this was branded again at the end of 2015. At the same time, CySEC ordered IronFX (FXGiants) to pay approximately €335,000. The key reason was turning down withdrawals to a lot of clients.
Primary Features of FXGiants
FXGiants was seen as the main Forex broker providing a ton of services for traders fond of the international exchange market. There are several main features which were related to FXGiants at the moment:
1. Forex Trading
FXGiants offered access to the market, allowing traders to trade (buy, sell, and speculate with currency pairs from different nations across the globe).
2. Trading platforms
FXGiants assisted common trading platforms such as MetaTrader 4 and MetaTrader 5 which are popularly approached and used by traders because of their simple interfaces and effective trading tools.
3. A wide range of account types
The platform brought a variety of types of trading accounts with various features like fixed or floating spreads and other deposit requirements.
4. Leverage
The broker can provide leverage choices for traders, making them manage bigger positions with minimum capital. However, that’s vital to keep alert to leverage since it can boast about profits and risks.
5. Financial instruments
On top of Forex, FXGiants have offered access to exchange different financial instruments like CFDs (Contract for Difference) to valuable metals and indices.
6. Client assistance
A broker can give the client assistance modes to support traders with queries or problems they came into when taking the platform.
7. Education
FXGiants have brought educational resources like webinars, and market trends to support traders to improve their skills and understanding.
Types of FXGiants Accounts
FXGiants provided some kinds of trading accounts, each with the attributes and perks to supply the high demands of traders. The particular account types have consisted of:
1. Standard account
It is a fundamental trading account appropriate for amateurs or people who enjoy a simple trading experience. This might have provided spreads, usage to different financial instruments, and common trading platforms such as MT4 (MetaTrader4) or MT5 (MetaTrader5).
2. Premium account
A premium account is specifically built for professional traders or people who expect to exchange with high volumes. This has offered low spreads, client assistance, and extra benefits.
3. Micro account
That kind of account is targeted at traders who need to begin with a tinier deposit and trade with low contract sizes. That makes traders take part in the Forex market with low potential loss.
4. Zero spread account
A zero spread account has given trading with zero spreads on specific currency pairs, making it proper for traders who enjoy a clear fee structure.
5. STP/ECN account
The STP (Straight Through Processing) or ECN (Electronic Communication Network) account is constructed for offering instant access to the market without interruption from the broker. Those accounts have brought strict spreads and quicker execution.
6. VIP Account
The VIP Account is often involved in high net worth traders/individuals. In other words, this has given top advantages, personalized assistance, and suitable exchange conditions.
7. Islamic account
FXGiants have provided Islamic accounts (swap-free accounts) that follow Islamic financial rules by taking out overnight interest charges.
Trading Platforms of FXGiants
FXGiants offered access to common and commonly used trading platforms to provide with the demands of various kinds of traders. Next, the main trading platform brought by FXGiants were:
1. MetaTrader 4 (MT4)
MetaTrader 4 is among the most common and popularly used trading platforms in the Forex field. One of the most crucial things is its simple interface, ultimate charting tools, engineering analysis signals, and auto trading abilities via EA (Expert Advisors).
Moreover, MT4 supports traders to implement trades and control their accounts productively.
2. MetaTrader 5 (MT5)
MetaTrader 5 is the next platform of MT4 and gives an ultimate and fabulous exchange experience. Apart from the main attributes of MT4, MT5 even assists trading in various financial instruments like stocks, and commodities. This offers timeframes, a calendar, and engineering signals.
I would like to highlight that FXGiants have created a lot of updates or transformations to their offerings, such as displaying new exchange platforms or limiting assistance for specific platforms.
FXGiants’ Benefits and Drawbacks
I will refer to the main benefits and drawbacks of FXGiants. However, remember that the financial field is developing from day to day, and the realistic benefits and drawbacks have transformed since then. Now, let’s see the benefits and drawbacks of FXGiants below.
Benefits
– Provide crucial bonuses, such as no-deposit bonuses for verifying accounts.
– Potential mobile app and copy trading service (MT4).
– Rapid online application that consists of account installation.
– Option of account with currencies and crypto deposits.
Drawbacks
– Boosting up scam reports
– Shortage of clear concerning deposits
– Uncontrolled broker for traders who are out of the United Kingdom.
An Outlook on FXGiants Fees
Top-rated brokers like FXGiants offer ultimate online trading platforms. Those services request considerable investment and in turn. In other words, FXGiants can charge customers a wide range of different fees for exchanging activities.
Minimum Deposit
FXGiants can ask for a minimum deposit of 50 GBP/USD/EUR when you open your trading account. The minimum deposit is the least amount of money asked by FXGiants to open a new online account with them.
Withdrawal Fees
The withdrawal fees from the FXGiants account are not similar based on your selected payment method. Checking the fees related to every payment method before making the request is crucial.
Inactivity Fees
FXGiants will charge a fee for inactive accounts. When the trading account is not used for a long cycle, brokerage customers will be charged the account inactivity fee. To prevent fees, customers should meet particular trading activity requirements made by FXGiants terms.
It’s crucial to highlight that inactivity fees are not proper for online trading accounts because a lot of financial service organizations can even charge them.
FXGiants Deposit Fees
FXGiants can charge deposit fees. Checking deposit fees before kicking in a transaction is assertive because particular brokers can charge for depositing funds from the payment method to the trading account. The payment method taken for funding the account can charge a fee.
Commission Fees
FXGiants charge a commission on the CFD instruments. Brokerage agencies such as FXGiants could charge commission fees as making amends for implementing trades on behalf of traders with their trading platforms.
Next, commission fees could change based on the kind of financial property being exchanged and the trading account level made by the trader.
FXGiants’ Trading Options
To help you discover more about FXGiants’ trading options, this section will cover all important information about FXGiants, IC Markets, Etoro, and RoboForex.
| Broker | FXGiants | IC Markets | Etoro | RoboForex |
| Instruments | 122 | 2250 | 5000 | 100 |
| Platforms | MT4, MT4 PC | MT4, MT5, Web Trader, Windows, Mac, Android, IOS | Web Trader | MT4, MT5, Web Trader |
| FX/Currencies | ||||
| Forex pairs | 61 | 50 | 35 | |
| Major Forex pairs | Yes | Yes | Yes | Yes |
| Minor Forex pairs | No | Yes | Yes | Yes |
| Commodity CFDs | ||||
| Commodities offered | 0 | 20 | 31 | 21 |
| Metals | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes | No |
| Indiced and Stock CFDs | ||||
| Stocks Offered | 2100 | 2042 | 0 | |
| UK Shares | Yes | Yes | Yes | Yes |
| US Shares | No | Yes | Yes | Yes |
A step-by-step guide to open an account on FXGiants
In this part, you will find out about the step-by-step guide to opening your account on FXGiants.
1. Get to the FXGiants website
First of all, you browse your web and navigate to the homepage of FXGiants.
2. Click to choose “Open Account” or “Register”
When you are visiting the website, remember to find a button or link that shows “Open Account”/”Register”. That might often be shown on the header menu.
3. Opt for your account type
FXGiants particularly provides various kinds of accounts like Standard, Premium, and other accounts. According to the main features and advantages of every account type, make your final decision about which one fits your demands and trading way.
4. Complete the registration form
Provide your information to fulfill the registration form. The information particularly asked consists of your name, email, phone number, and various identification information.
5. Verify your email
As soon as you fulfill the registration form, FXGiants can send you an email with a link. Choose the link and click it to verify the email address.
6. Finish the process
FXGiants requires you to offer extra documents to verify your address. Those documents might consist of an official government-issued ID, a bill, and a picture of yourself displaying the ID.
7. Fund your trading account
You might fund the trading account. FXGiants particularly provides a wide range of deposit methods like credit/debit cards and bank transfers.
8. Begin trading
You might use the trading platform offered by FXGiants and begin trading CFDs, or different financial instruments.
FAQs
I will make a list of frequently asked questions related to FXGiants below. From that, you can widen your horizon easily.
1. How long does it take for a deposit on FXGiants?
FXGiants does not charge extra fees, and the intermediary charges can be applicable. The processing time with deposits is 24 hours.
2. Is FXGiants regulated?
FXGiants will be regulated around the United Kingdom by the FCA. That trustworthy body provides some security solutions like fund security schemes and asks brokers to offer bad balance protection.
3. What is the minimum deposit for FXTrading?
The minimum deposit is about $200. FXTrading charges $0 for deposits. You could deposit funds from accounts that include your name.
4. How many FX traders fail?
The consensus of the Forex market is that from 70% to 80% of all amateur traders lose money and finish quitting.
5. How can banks control FX risk?
Banks can manage risk through Forward hedging. That relates to selling the exposure currency forward toward the base currency with sales and future inflows.
Wrap Up
While FXGiants provide different trading services as per my review above, it is important for a lot of traders to work out caution and because of hard work opt for a broker to ensure a good and great trading experience. Last but not least, I hope you can find it useful when approaching FXGiants so far.
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