FXGiants is an online forex and CFD brokerage that is regulated by the Financial Conduct Authority (FCA) in the UK. Based on their website, they promote their services which they proudly say has a “transparent trading environment and support”. Does this broker really offer such kind of services or is it the opposite? Continue reading and the answers will be revealed.
Demo Account: Customizable conditions
You can open a demo account and set your own currency, leverage and deposit amount so you will be able to explore the platform with your preferred conditions.
Account types: Micro, Premium, 0 Fixed Spread, STP/ECN No Commission and STP/ECN 0 Spread
There are different account types that are designed for various types of traders. There are differences on choosing between Live Fixed or Live Floating Spread, minimum deposit, base currency, minimum lot size, lot increments, availability of a dedicated account manager, a dealing department transaction hotline and spreads.
Platform: A suite of MT4 platforms
Platform-wise, they offer separate versions of the MetaTrader 4 (MT4 PC, MT4 PC Advanced, MT4 MAC, MT4 iPhone/iPad, MT4 Smartphone/Tablet and PMAM). It comes with a dynamic security system, advanced charting tools, real-time quotes and online streaming of relevant news. The PMAM (Personal Multi-Account Manager) allows traders to manage different accounts and track real-time prices of financial instruments.
Mobile Trading: iOS and Android ready
The MT4 apps can be installed on smartphones and tablets that are powered by iOS (iPhone and iPad) and Android mobile operating systems. These apps come with real-time quotes and interactive charts, trading history and all types of executions.
Minimum Lot Size: At par with the standards
The allowed minimum lot size that you can trade with this brokerage is 0.01. This is in line with the smallest lot size that are also followed by the majority of brokerages in the market today.
Maximum Leverage: Larger returns at stake
Leverages can be set to a maximum ratio of 1:200. This means that potential profit that you may earn would be bigger but also keep in mind that the potential losses or risks are also increased so always invest with an amount that you can afford to lose.
Spreads: Competitive for all account types
There are four different account types (Live Floating Spread, Live Fixed Spread, Live Zero Fixed Spread and STP/ECN) that offer unique spreads yet all of them offer competitive pricing.
Tradable Instruments: Over 100 choices
Traders can invest on over 100 products and these are comprised of forex, spot metals, spot indices and commodities, futures and shares.
Deposit & Withdrawal/Support
Minimum Deposit: $100 to get started
If you want to start trading, you need to make an initial deposit of $100 to your account and this will be used as your trading fund. It may be a little higher than the requirement of most brokers today but the additional perks cover for it.
Deposit Methods: A number of options
There are plenty of options to fund your trading account. You can use credit and debit cards, Skrill, Neteller, Safecharge, DotPay, ChinaUnion, EccomPay, Bank Wire and FASAPAY.
Withdrawal Processing Time: Within 2 to 3 days
Withdrawing funds from your account is easy. After accomplishing the online withdrawal request form, their Finance Department gives you a call to confirm your request which then will be processed within 2 to 3 business days.
Channels: Various methods of communication
Their customer service lines are accessible via phone, email, and live chat.
Support is available 24 hours a day, 7 days a week.
Supported Languages: More than options
They have support for English, Arabic, Czech, German, Spanish, French, Italian, Polish, Portuguese, Russian, Vietnamese and Chinese languages.
Average User Rating: 8.9
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Straightforward interface
What they offer is a suite of user-friendly and streamlined platforms that come with all the necessary resources like manuals, technical analysis tools and many more.
Support: Dedicated customer service
They provide personal support and service that is available 24 hours a day so you can get in touch with them any time of the day. Their responses were generally quick and highly satisfactory.
Reputation: EU regulated and MiFID compliant
Trading with a brokerage that is regulated in the EU region and compliant with the Markets in Financial Instruments Directive (MiFID) gives traders peace of mind since they are under the supervision of trusted financial regulators.
Editor’s Rating: 89
FXGiants advertised that their clients will be able to “experience the best trading environment” and from the look of it, they are able to fulfill this promise. With an array of platforms that provides access to a diversity instruments and is capable of instant trade executions, there’s no need to look elsewhere.