FXGT Review

FXGT.com

FXGT.com

www.fxgt.com

  • Leverage: 1:30 | 1:1000

  • Regulation: FSCA, FSA, VFSC, CySEC

  • Min. Deposit: $5

  • HQ: Seychelles

  • Platforms: MT5, WebTrader, MT4

  • Found in: 2019

FXGT Licenses:

  • GT IO Markets (Pty) Ltd - authorized by FSCA (South Africa) registration no. FSP 48896
  • GT Global Ltd.- authorized by FSA (Seychelles) registration no. SD019
  • GT Global Markets Ltd - authorized by VFSC (Vanuatu) license no. 700601
  • TEC International Ltd - authorized by CySEC (Cyprus), Institutional clients only, license no. 382/20 

 

Top 3 Forex Brokers

  1. What is FXGT.com?
  2. FXGT.com Pros Cons
  3. Is FXGT.com Safe or a Scam?
  4. Leverage
  5. Accounts
  6. Trading Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with over 10 years experience in Forex Trading check trading offerings including fees, platforms, verified regulations, contacted customer service, and placed trades to see trading conditions and give an expert opinion on FXGT.com.

What is FXGT.com?

FXGT.com is an established Forex trading company that officially started in 2019. It successfully operates in various countries, constantly expanding its services globally. The broker offers a wide range of trading instruments including CFDs, Stocks, FX, Commodities, Cryptocurrencies, Energies, Indices, and more.

The company is dedicated to focusing on the world and international proposals with an expansion approach through an established operation in South Africa. South Africa now is a growing trend in the Forex industry where more brokers open their entities due to good regulation, availability of high leverage, and a great way to global expansion.

FXGT Pros and Cons

Our experts find FXGT.com a reliable broker with a good reputation offering a large variety of trading instruments. Trading conditions are quite strong in the industry, offering liquidity aggregation that offers the most competitive prices. The broker provides an excellent education for beginner traders as well as decent research tools to enhance trading strategies, besides broker might be a good option for Forex trading in Africa region since runs entity in South Africa.

For the cons, the broker does not offer trading to US or EU clients, also some other clients might be restricted so good to verify conditions in advance.

AdvantagesDisadvantages
Excellent choice of account typesNo US clients
First Regulated Hybrid BrokerTraders should check if they are able to trade with FXGT.com due to regulations
MT5 and MT4 with EAsConditions may vary according to regulation and entity
24/7 support
Low minimum deposit
Good range of instruments
Money transfers and trading of Cryptos and Fiats

FXGT.com - official website

FXGT.com Review Summary in 10 Points
🏢 HeadquartersSeychelles
🗺️ Regulation and LicenseFSCA, FSA, VFSC, CySEC (Institutional clients only)
🖥 PlatformsMT5, WebTrader, MT4
📉 InstrumentsForex, Cryptocurrencies, Precious Metals, Energies, Equity Indices, Stocks, NFTs, DeFi Tokens, Synthetic Pairs, GTi12 Index
💰 EUR/USD Spreadfrom 0 pips
🎮 Demo AccountUnlimited
💳 Minimum deposit$5
💰 Base currenciesBTC, ETH, USDT, ADA, XRP, EUR, USD depending on Account Type
📚 EducationLearnHub tool, Webinars, Video tutorials
☎ Customer Support24/7

Overall FXGT.com Ranking

Overall, our experts’ first impression of FXGT.com was quite positive. The broker stands out with a wide range of CFD instruments with the possibility of high-leveraged trading. Fees are either non or small, also spread is considered standard, Overall, conditions are quite imposing and suitable for beginner traders. See our overall ranking of FXGT.com below:

  • FXGT.com Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingFXGT.comIGDukascopy
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantageLiquidityEducationFutures Trading

FXGT.com Alternative Brokers

Yet, we found disadvantages too, the broker offers only CFD products, and trading is done only through the MT5 platform which is quite a limitation. Also, the education and research section is limited as well. So it is good to consider alternative brokers:

  • IG – Great Selection of Education
  • BDSwiss – Excellent Broker for International Trading
  • Pepperstone – Great Selection of Trading Platforms

Is FXGT Scam or Safe?

No, FXGT.com is not a scam. It is a considered a reliable brokerage firm that operates under few authorities such as South African Financial Sector Conduct Authority (FSCA), also running international entities authorized by the Seychelles Financial Services Authority (FSA), Vanuatu Financial Services Commission (VFSC).

Moreover, FXGT has got a CySEC license, yet it is for institutional clients only. The company is offering its financial and investment services exclusively to eligible counterparties under its European domain (https://www.fxgt.eu) and is not aiming for any retail clients resident in the European Union for now.

Is FXGT.com Legit?

We checked the company’s legit information through the official website where the broker mentions its licenses and regulation by the FSCA in South Africa, FSA in Seychelles, VFSC in Vanuatu, and CySEC in Cyprus for only institutional clients.

  • You should always check brokers’ claims through the official regulatory site, in this case, FSCA, FSA, VFSC, and CySEC, and verify the conditions again. Luckily, FXGT.com is legit and regulated so you can be assured of its transparency and aligned safety measures controlled by the international authority.

See our conclusion on FXGT.com Reliability:

  • Our Ranked FXGT.com Trust Score is 8.1 out 0f 10 for good reputation and favorable conditions, yet the only point is that international trading is done through an offshore entity and there’s no top-tier license.
FXGT.com Strong PointsFXGT.com Weak Points
Regulated broker with good history of its group operation Does not operate in the US
FSCA, FSA and VFSC license
CySEC license for institutional clients
Negative balance protection
Liability insurance
Regular promotions
Excellent choice of trading accounts

How Are You Protected?

There are many measures demanded by the regulator done by the broker to prove its Fund Security, which is applied in South Africa regulation, in other entities rules vary and mainly do not include protections. These includes Capital Adequacy Ratio above 40% while processing transactions with Tier 1 Banking and Segregated accounts, and all is done under Regulatory Supervision and strict Risk Management.

FXGT Review Fund Security

Leverage

Leverage as a tool that allows magnifying your initial balance so you are able to operate a bigger trading size is another popular and famous feature in Forex trading. FXGT.com leverage is available for your trading activity, moreover being regulated in South Africa traders can still access high leverage ratios.

Nevertheless, leverage works in both directions meaning you can lose and gain higher amounts compared to your trading account balance so be sure to learn well how to use leverage smartly. Also, leverage ratios depend on the instrument you trade and may also vary according to the entity since regulatory restrictions may vary.

FXGT.com leverage is offered according to FSCA, FSA, VFSC and CySEC regulations:

  • Under CySEC regulation traders are eligible to use a maximum of up to 1:30 for major currency pairs.
  • 1:200 for South Africa.
  • For international traders, the maximum leverage is 1:1000 for Forex instruments.

FXGT Review Leverage

Account Types

The broker offers 4 LIVE accounts: Mini, Standard+, PRO, and ECN available for practice purposes. Standard PLUS is suitable for traders who look for high leverage (up to 1:1000) and other types of rewards. PRO is suitable for traders who can unfold their trading strategies utilizing low spreads and zero commission for opening or closing their positions.

  • In addition, the account can be opened in a few different currencies even including Cryptos as a base one, allowing easy money transfers to or from the account and avoiding conversion fees, which include USD, EUR, BTC, ETH, XRP, USTD, ZAR.

The account opening from which you will have access to trading itself as well as money management, transfers along with fee reports, and a full range of offered services are available through your Client Portal.

ProsCons
Fast account openingNone
Standard Account and Practice Account
Easy switch between Demo Account and Live Accounts
Swap-Free account available
Range of Account base currencies

FXGT Review Account Types

How to Open FXGT Live Account?

Opening an account with a broker is quite easy, we could open the account within minutes. You should follow the opening account or sign-in page and proceed with the guided steps:

  • Select and Click on the “Register Now” page
  • Enter the required personal data (Name, email, phone number, etc.)
  • Verify your personal data by uploading documentation (residential proof, ID, etc.)
  • Complete the electronic quiz confirming your trading experience
  • Once your account is activated and proven, follow with the money deposit.

Trading Instruments

Based on our findings, the broker has a great variety of trading instruments The offering of Market instruments proposing has a total of 743 instruments: including 54 FX pairs, 32 Cryptocurrencies, 11 Synthetic Cryptos, 5 NFT, 2 Coins, 10 DeFis, 3 Precious Metals, 3 Energies, 10 Equity Indices, 54 Stocks.

FXGT.com provides pretty good conditions for the trading of those instruments, with the only exception that the broker does not offer to trade Futures and Options.

  • FXGT.com Markets Range Score is 9 out 0f 10 for wide trading instrument selection with the main exception of futures and options, yet the condition and asset availability depend on the jurisdiction.

FXGT Review Trading Instruments

FXGT.com Fees

From what we found, generally, the broker doesn’t charge commission fees all are built into spreads. Only for the ECN Account, the broker has a $6 commission fee for trading transactions. The broker proposes a floating spread or variable spread basis, where the spread is dependent on the market conditions. Also, we check funding fees and inactivity fees to get the full pricing picture.

Additional Fees

For the additional or non-trading fee conditions, you should note there is an Inactivity Fee of $10 per month in case of inactivity in your trading account. The good news is the deposit or withdrawal fees are waived to $0, which may depend on the region you registered to, read more about deposits in our FXGT.com Review further.

  • FXGT Fees are ranked low with an overall rating of 7.9 out of 10 based on our testing and compared to over 500 other brokers. Fees might be different based on entity offering, see our findings of fees and pricing in the table below

FeesFXGT.com FeesGO Markets FeesXM Fees
Deposit feeNoNoNo
Withdrawal feeNoNoNo
Inactivity feeYesYesYes
Fee rankingLowAverageHigh

Spreads

FXGT Review found spreads quite competitive and offer a good solution for the trading of different instruments including Stocks. Stocks trading likewise offered with a spread and leverage up to 1:1000, and average spread for UK100 Stock 3 points.

Swap fees, however, are added on above in case you are holding overnight positions also defining specific fees according to the instrument unless you request to trade via a Swap-Free account which is available as well. Alike metals swaps are added on once a day – midnight, while Cryptocurrency swaps are charged every 4 hours.

  • FXGT.com Spreads are ranked low with an overall rating of 7.7 out of 10 based on our testing comparison to other brokers. We found Forex spreads are in line with the industry average, while spreads for other instruments are lower.

Nevertheless, the broker also offers an opportunity to get tailored trading solutions available for traders of bigger sizes or partners.

Asset/ PairFXGT.com SpreadGO Markets SpreadXM Spread
EUR USD Spreadfrom 0 pips1.2 pips1.6 pips
Crude Oil WTI Spread31.9 pips5
Gold Spread$0.301.4 pips35
BTC USD Spread$2.50 0.75%60

Deposits and Withdrawals

Based on our research, deposits to the live trading account can be done in numerous convenient ways while the payments will attract no additional processing fees. Another progressive feature is that being the first Hybrid regulated Forex Broker FXGT.com allows trade, deposit, and withdrawal in both Fiat and Crypto Deposits.

  • FXGT.com Funding Methods we ranked Excellent with an overall rating of 8 out of 10. The minimum deposit is among the lowest in the industry, yet fees are either none or very small also allowing to benefit from various account-based currencies. Also, conditions may vary based on the entity

Here are some good and negative points for FXGT.com funding methods found:

FXGT.com AdvantagesFXGT.com Disadvantages
Fast digital deposits and withdrawalsNone
$0 internal deposit fees or withdrawal fees
Very low minimum deposit of $5
Multiple account base currencies including Cryptos

Deposit Options

The payment options include:

  • Credit Cards – Visa, Mastercard
  • SticPay Wallet – e-money transfer service
  • InstantEFT – e-money transfer service
  • LuqaPay – e-money transfer service
  • Perfect Money – e-money transfer service
  • Skrill – e-money transfer service
  • Neteller – e-money transfer service
  • Bank Transfer

FXGT.com Minimum Deposit

minimum deposit amount is another pleasant point to mention since FXGT.com requires only $5 at the start allowing beginners or any size traders to engage, or equivalent USD 5 / EUR 5 / BTC 0.0001 / XRP 25 / ETH 0.05 / USTD 25. Yet, always make sure to verify trading conditions for the instrument you will trade since you need to cover its margins and deploy a money management strategy smartly.

FXGT.com minimum deposit vs other brokers

FXGT.com Most Other Brokers
Minimum Deposit $5 $500

Does FXGT.com Have No Deposit Bonus?

FXGT.com doesn’t currently offer a deposit bonus, but the broker does offer regular promotions which offer rewards on client deposits.

FXGT Withdrawals

Withdrawal options are similar to deposits including bank wire, card, and e-wallets. Nevertheless, always good to check with customer service about conditions and specified terms for your residency and region. Typically FXGT.com processes withdrawals within 1-2 business days for bank transfers and the average withdrawal time is 3 hours, however, allow additional time for your payment provider or other procedures.

How to Withdraw Money from FXGT.com Step by Step:

  1. Login to your account
  2. Select Withdraw Funds’ in the menu tab
  3. Enter the withdrawn amount
  4. Choose the withdrawal method
  5. Complete the electronic request with necessary requirements
  6. Confirm withdrawal information and Submit
  7. Check the current status of withdrawal through your Dashboard

FXGT Review Payment Methods

Trading Platforms

We found in FXGT.com’s offerings the popular MetaTrader platforms, its newer version MT5 and MT4  packed with full features and add-ons available for trading, also with no restrictions on strategies.

  • FXGT.com Platform is ranked with an overall rating of 8.3 out of 10 compared to over 500 other brokers. It’s good that the broker offers an industry-leading MT4 and MT5 platform which is more advanced and sophisticated, however, the lack of any other alternative platform is a drawback.

PlatformsFXGT.com PlatformsCapital.com PlatformsPepperstone PLatforms
MT4YesYesYes
MT5YesNoYes
cTraderNoNoYes
Own PlatformNoYesYes
Mobile AppYesYesYes

Web Trading

Additionally, there is an option to use WebTrader a Web-based platform with easy access and no requirement for installations. For regular or beginning traders this option might be enough for basic analysis, trading, and management.

Desktop Trading Platform

But if you deploy sophisticated strategies, using some specified tools, or would like to Auto trade your strategies Desktop platform is your choice. FXGT.com included powerful features in its MT5 too, enhancing capabilities with Market Sentiment and additional tools.

Desktop versions are suitable for any type of software you use, also proposing advanced options for analysis, technical analysis, and more.

Look and Feel

MT5 is quite famous for its clean view and look, the platform is easy to navigate and adds some features. In addition, you can find tons of guidelines available in case you use the platform for the very first time.

Mobile Trading Platform

Mobile trading is another trend that includes Trading Apps allowing you to trade on the go right from your smartphone. Even though the App is not a full-feature trading platform with all the possible tools, you can still make basic analysis, take control over the positions, and manage your account, which is indeed very useful.

FXGT Review Trading Platforms

FXGT.com Customer Support

Based on our testing, the broker’s Customer Support team is available around the clock and supports international traders, and is accessible via Online Chat, Ticket, and Email in the English language. During our testing, we found its service quite responsive and professional, which is indeed necessary for your fruitful cooperation with the broker and for solving any ongoing concerns.

  • Customer Support in FXGT.com is ranked Excellent with an overall rating of 9.8 out of 10 based on our testing. We got some of the fastest and most knowledgeable responses compared to other brokers, one of the advantages is that it’s available on weekends too. The only disadvantage is that no other languages except English are offered for support.

See our find and Ranking on Customer Service Quality:

ProsCons
24/7 supportNone
Quick response and Relevant answers
Live Chat, International Phone Lines and email
Highly recognized customer care service

FXGT.com Education

Based on what we researched, the broker supports beginner traders with education materials through its Learn Hub. It includes Live Daily Webinars, Trading Video Tutorials, Educational articles, Financial News, and Trading insights. Moreover, traders can communicate with the broker’s financial experts. Unique educational videos are suitable for novice traders by introducing them to the financial markets. FXGT.com traders can access MT5 Tutorials, and Live Trading Sessions and participate in Real-time Trading Debates.

Research

As for the Research tools, there are great tools included in the MT5 platform itself, while the broker also supports traders with Market Sentiment, Trading Insights, and Economic Calendar along with other great research tools the platform is famous for. 

  • FXGT.com Education ranked with an overall rating of 8.9 out of 10 based on our research. The broker provides state-of-art educational resources including News, Insights, and Live Webinars. It also provides great research tools which is another great advantage

FXGT Review Education

FXGT.com Review Conclusion

Overall, our experts remained satisfied with their trading experience with FXGT.com. The broker stands on a good record and sustainability of its mother-company trading brand. Most importantly, the company obtained necessary regulations from South Africa(FSCA), Seychelles(FSA), Vanuatu(FVSC), and CySEC (for institutional clients) allowing it to expand its proposal legally and trustworthy.

What we liked the most is that the broker offers indeed a vast instrument range including Cryptocurrency trading, also allowing you to deposit and withdraw in Bitcoin or other Cryptos. FXGT.com has a great variety of account types, most of them tradable with no commissions and with access to high leverage lever up to 1:1000 allowing you to capitalize on opportunities.

Based on Our findings and Financial Expert Opinions FXGT is Good for:

  • Beginning Traders
  • Regular Traders
  • Traders from South Africa and Africa Region
  • International Trading
  • Competitive fees and spreads
  • EA/Auto trading
  • STP/NDD execution
  • Traders who prefer the MT5 and MT4 trading platforms
  • Currency Trading and CFD Trading
  • Suitable for a Variety of Trading Strategies
  • Cryptocurrency Trading
  • Good Research Tools
İHSAN CUNEDİOĞLU From Turkey | | Monday, April 8, 2024

I had an account where I made money through Forex. There was no problem withdrawing money 3 or 4 times, but when I wanted to withdraw my $4K inside, it said that your withdrawal was not approved because your account made transactions that did not comply with our company policies. I asked him, "Can you please provide me with evidence of what you did?" Afterwards, they said that the relevant department would inform me and I started to wait. Afterwards, they zeroed all the money in my account. They also made my membership inactive. I send an e-mail, they do not answer, I ask for evidence, they cannot provide evidence.

  • İHSAN CUNEDİOĞLU
  • İHSAN CUNEDİOĞLU
  • İHSAN CUNEDİOĞLU

No news available.

16 responses to “FXGT.com”

  1. I genuinely consider FXGT to be a very impressive broker. The platform checks all of the boxes for me, starting with the safety and security of traders.
    The broker provides several account types to traders, showing that they actually know what brokers want. These account types appeal, or are attractive to different types of traders with different experience levels. The authors of this review did the broker justice and did not leave much out.
    The article really does a good job, and there is not much left to say really.

  2. Great and to the point article on the broker. I have found many useful aspects that I wanted to clear.
    The broker seems to offer excellet conditiosn and terms for traders. I shall explore them in more great detail.
    Also, as I udnerstand, the pool of trading assets is really huge. In light of recent easing on interest rates, I think the markets will boom.

  3. Yeah… many brokers are limited by regulations. I think it is only natural and should not be listed as a disadvantage.
    Just for some ideas, what are the instruments I should consider trading?

    • Well, it depends on your market taste, I guess 🙂
      The broker offers a wide pool of trading instruments. I think you will find what you like to trade.
      Foreign exchange pairs, energies, stocks and more are present there. But since you asked a direct question , I d recommend to pay attention to the equity markets. The motive behind is that now the stock market is a hot theme, and many stocks are in bull phase. Also, the FED is going to lower the rates and the market will take it as a massive positive support. So, check out them.
      Swaps from the broker are quite decent.

    • You mean assets? Oh man, opt for any you wish.
      Due to the fact fxgt broker offers a broad variety of makrets for trading, you shouldn’t even ask such a question, cuz you are free to pick any of assets and trade them.
      Most traders prefer currency pairs, other enthusiasts trade cryptocurrencies, or there are some guys who are okay with synethetic assets that are available here too.
      Check trading specifications, decide which conditions suit you most and trade. Guess it’s not a very big deal to determine.

  4. I trade on a PRO account, and I am very happy with the trading conditions provided by the broker. I can open and close transactions without commissions, there are minimum spreads, and there are many types of pending orders. Leverage of up to 1:1000 is available in forex and cryptocurrencies.
    Deposits and withdrawals occur instantly and without commissions. I have never encountered overdue transactions or cancellations. Technical support is available 24/7 and is always happy to help you sort out any problems.

    • That’s a good question, buddy. I will be happy to answer it as I trade through them. They have many ways to make deposits and withdrawals. You can do all this through credit cards, e-wallets, bank transfers and crypto. You may be surprised right now, but I will answer that there are no commissions for deposits and withdrawals. You can safely do all this and not worry about it!

  5. In my opinion disadvantages that are listed in this article are not significant.
    Moreover, these features of this company are quite common among brokers. And many companies have the same characteristics. So it seems to me that the author of the article wrote these disadvantages only to avoid the field being empty.

    • Ha, yeah, if the field would be empty, it would’ve likely raised questions.
      In my opinion, the article is objective, it highlights positive and negative sides of the platform, even though I can’t get along with all of them, and some of drawbacks even seem to be weird, like about conditions varying according to the regulation, but anyway. The author wanted to make this article unbiased and I guess he made it.

  6. I give a 5-star rating to FXGT for their creativity and innovative solutions.
    I appreciated having options, and FXGT is providing options in every aspect.
    From account types to choose from to payment methods to use for deposits and withdrawals.
    Their range of instruments is second to none! Especially in crypto-related instruments.
    Truly versatile and advanced brokerage!

  7. The US, along with a few other countries, hardly have brokers that offer their regions services. I have come to conclude that these countries are very strict and unfriendly to foreign companies, or companies in that industry. There is no reason why all of the brokers that I have come across are prohibited from offering their services in the US. That should not be listed a disadvantage honestly :]
    Fxgt is one of the most comprehensive trading services I have come across. How exactly does the VPS sponsorship work?

    • VPS stands for Virtual Private Server, and this feature is usually used by traders who have installed EAs.
      You know when trading with EAs you need high latency and speed, and the best experience in this regard is using VPS.
      This can be an expensive feature to use, but FXGT offers it free of charge. This offer they called VPS Sponsorship.
      You can apply for sponsorship with any account type with a balance of $3000, and you need to maintain your status with a minimum trading volume of 5GTlots monthly, which is quite a reasonable volume to achieve if you trade with robots.

    • Of course it is not good to think that way about other traders, but I agree with you. Being able to provide its services to US clients puts too many obligations on the company.
      So if we want freedom in trading, it is better to avoid jurisdiction of the most free country 😉

  8. I got scammed by people who are using FXGT few weeks ago, am in debts now trying to invest and make a living for my family. If this reaches someone please help me so I can help others to not fall for the same Scamers who are personating Thapelo Mabitsela.

    Please help.

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