FXGT Review – Benzinga

FXGT.com offers leveraged CFD trading on ten tradable asset classes — forex, stocks, indices, cryptos, energies, precious metals, NFTs, DeFi tokens, GTi12 index, and synthetic crypto pairs. Forex traders will especially be drawn to its extensive selection of 53 forex pairs, encompassing major, minor and exotic currencies. Although its offerings of 50 stocks, which include major US giants such as Apple, Amazon, and Microsoft, are substantial, stock traders who prefer smaller companies with higher volatility may desire a more extensive range of assets listed on the platform.

While the forex currency pairs and stocks seem to be the primary assets, the availability of 13 major indices from the US, UK, Japan, France, Germany and India and the Volatility Index (VIX) provide indices traders with a diverse range of options to trade. However, the presence of gold (XAUUSD), silver (XAGUSD) and energies (natural gas, UK and US oil) can still benefit traders seeking diversification and hedging opportunities.

FXGT.com implements a dynamic leverage system that automatically adjusts according to the volatility of the traded asset. Generally, higher volatility results in lower available leverage. Additionally, as the trade volume increases, the available leverage decreases. For major forex pairs, FXGT.com offers leverage of 1:1000.

Leverage for minor currency pairs and precious metals (gold and silver) varies from 1:20 to 1:1000. In contrast, clients can trade exotic pairs with leverage ranging from 1:20 to 1:500. The leverage for energies and equity indices is between 1:10 to 1:100. For stock trading, the available leverage is fixed at 1:10, which is significantly lower than its competitors. Margin also varies according to asset classes. 

FXGT.com offers four account options that satisfy diverse investors’ needs, from beginners to experienced traders. These include the Mini, Standard+, Pro and ECN. All the accounts offer access to FXGT.com’s complete range of assets, support the same trading platforms (MT5 Desktop, Web, Mobile, and MT4 Desktop, Web, Mobile) and allow trading in various account currencies. They also support multiple account fiat currencies, including US dollars, Japanese yen and euros, and crypto options like Bitcoin, Ethereum, Ripple, Cardano, or Tether. This feature is particularly valuable since only a few brokers provide crypto options. 

All accounts maintain a 70% margin call level and a 40% stop-out level, except for the Pro account, which has a 50% margin call and a 20% stop-out level. The Mini account is ideal for beginner, micro-lot and fractional traders. It has the smallest contract size and offers spreads starting from 10 points. The Standard+ account, while similar to the Mini account, has a standard contract size and can be suitable for all types of traders, especially those who desire more flexibility. Both the Mini and Standard+ accounts offer exclusive bonuses. The Pro account features narrower spreads from 5 points, making it appealing for traders seeking lower trading costs. Traders can also enjoy zero commissions and swap-free trading.

The ECN account offers spreads starting from 0 points, which can be highly advantageous for traders looking for the tightest possible spreads and direct market access. All these account options, therefore, provide traders with a range of options to suit their trading preferences and goals, with variations in contract sizes, spreads and risk management levels. Benzinga rates FXGT.com 5 on product offerings. 

FXGT.com offers 24/7 multilingual support via live chat on the website. You’ll receive a response almost immediately when you chat with the team and have your questions or complaints professionally addressed. You can also access support by emailing or filling out the contact form below the contact page. The company also maintains an active presence on major social media platforms, including Instagram, Facebook and LinkedIn, offering alternative means of connecting with the team. FXGT.com is reviewed by multiple credible websites such as investing.com, FX Empire, 55 Brokers and more. Benzinga rates FXGT.com 4 out of 5 on pricing.

FXGT.com is a fully regulated broker holding licenses from the FSCA, FSA, and VFSC. Its capital adequacy ratio of 40% is about 4X higher than the capital-to-risk weighted exposure ratio mandated by reputable regulators. This demonstrates a solid financial position and commitment to risk management. Client funds are kept completely segregated from the broker’s operational funds in various Tier 1 banking institutions. 

FXGT.com provides clients with negative balance protection, which offers an additional layer of security while trading. The platform employs advanced encryption technology, a strong firewall and secure servers to ensure maximum protection and security of user data. Benzinga rates FXGT.com 4 out of 5 on security.

FXGT.com offers competitive and transparent trading fees and non-trading charges. The minimum deposit requirement for each account option is $5. This low minimum ensures accessibility for undercapitalized beginners. All the account options charge $0 transaction fees or commissions, except for ECN accounts. These accounts feature spreads that vary according to the asset class and the specific account type, with the PRO account having the tightest spread and the Mini account having the widest. On the other hand, the ECN account offers ultra-raw tight spreads, but this comes with a tradeoff of about $5 commission on precious metals and a $6 round-turn commission on all FX assets. The spreads are constantly updated during trading hours. 

Swap fees apply for overnight positions, but the platform provides traders flexible options for swap-free trading based on the asset and account type. The PRO account offers a six-day swap-free period for all asset types, whereas the ECN account type offers varying swap-free periods, depending on the asset type. There are no withdrawal and deposit fees except for deposits via bank wire, which may incur some charges depending on the amount involved. There are no account opening, maintenance, and closing fees. 

FXGT.com offers several ongoing promotions and bonuses to clients, providing that the necessary requirements are met. The range of promotional offerings include welcome, loyalty, and no deposit bonuses, which vary depending on the country and region. The broker also runs giveaway bonuses on social media. 

Once you meet a minimum initial deposit requirement of $3,000 and maintain 5 GTLots worth of monthly trading, you will automatically qualify for FXGT.com’s VPS sponsorship. 1 GTLot = $100,000 of a trading volume. A VPS ensures a continuous connection between your trading terminal and the markets, enabling you to execute trades even when you are not actively logged into your platform. Benzinga rates FXGT.com 5 out of 5 on pricing.

FXGT.com provides a seamless user experience for both beginners and experienced traders. You can start with the live account immediately or try out the demo account if you’re a beginner. Either way, account setup is a breeze thanks to its user-friendly platform. 

Traders can easily navigate various features and access various tradable assets, including forex, stocks, indices, commodities, precious metals, cryptos, NFTs, DeFi Tokens, and proprietary assets like the GTi12 Index and Synthetic Cryptos. The availability of different account types caters to the diverse needs of traders, offering flexibility and choice. With competitive spreads, advanced trading tools like MT5 and MT4 integration and VPS services, and the added benefit of negative balance protection, FXGT.com prioritizes user satisfaction and risk management. 

The broker’s commitment to regulatory compliance and the security of client funds further enhance the user experience, fostering trust and confidence among traders. Benzinga rates the company 5 out of 5 on user experience. 

FXGT.com offers a user-friendly platform with competitive spreads and diverse tradable assets. It provides flexibility with different account types to suit various trading preferences. The broker’s regulatory compliance, capital adequacy and segregated client funds ensure a secure and trustworthy trading environment. Additionally, the broker offers negative balance protection, which makes for peace of mind and further enhances the trading experience. Its transparent fee structures and the absence of withdrawal and account maintenance fees add to the overall benefits.

However, it doesn’t have its own proprietary trading platform, unlike more established brokers. Instead, it integrates with MT5 and MT4. The platform doesn’t support traders from major regions, including the US, UK and Europe. Benzinga rates the FXGT.com 4.5 out of 5.