FXGiants ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
FXGiants is a multi-regulated CFD broker offering you a generous choice of more than 200+ financial instruments for trading online through powerful platforms that are loaded with all of the tools you need for analysing charts, placing and managing positions. The broker has a good variety of flexible account types to suit different trading strategies, including both variable and fixed spread accounts. Beginners will be pleased with free access to a very large library of educational materials. You can even open a risk-free demo account to test the broker and get a feel for the platforms before making a commitment. I was impressed to find managed accounts, trading signals and a free VPS amongst the many tools they have which can help to enhance the overall trading experience.
Pros & Cons
- Hundreds of financial instruments to trade
- Easy to use MT4 platform for web, desktop and mobile
- Commission free trading
- Tight spreads from 0.0 pips
- Fixed spread accounts
- Free VPS option for eligible clients
- Myfxbook AutoTrade implemented for copy trading
- Managed accounts for investors and money managers
- Islamic account for Muslim traders
- Demo accounts to practice trading
- 1-minute registration (approx.)
- 24/5 customer support via multiple channels
- Cannot accept clients from certain countries due to regulations
- Limited account funding options
- Minimum $100 deposit is not the lowest
- No MetaTrader 5 (MT5) platforms
Founded in 2015, FXGiants is an international online broker that offers retail and institutional traders across the globe access to trade over 200+ instruments from multiple asset-classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. This is a great selection with something for everyone to trade. The broker is acclaimed for their transparent trading environment with the latest trading technologies implemented to deliver fast execution speeds and competitively tight spreads starting from just zero pips. Flexible high leverage of up to 1:1000 is available, something I haven’t seen many brokers offer.
You can choose to trade 24 hours a day via the popular and industry leading MetaTrader 4 (MT4) platform for simple and efficient trading that is accessible, stable and secure. There is an online trading academy to help improve your trading knowledge through a selection of educational materials. Round the clock customer support is available to assist throughout your trading journey. They emphasise that providing the same professional, reliable and high standards of services to all levels of clientele is of primary importance. I have always found them to be a very respectable company in the years that I have seen them in the industry.
Each aspect of the trading process is fully automated, ensuring that manual intervention is minimal, in order to maximise efficiency and effectiveness. They claim that an impressive 99.62% of trades are executed within milliseconds with no slippage or requotes. This can give traders confidence that they are consistently receiving fast and accurate pricing. There is even the opportunity to receive price improvements in the instance that trades are executed at a better price than the one requested.
FXGiants have a deep liquidity pool and use liquidity aggregation. They use top liquidity providers and investment rated banks such as Bank of America, Barclays, BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, ISAM, JPMorgan, Natixis Nomura, RBS & UBS. You can benefit from direct access to interbank prices and top-tier liquidity providers. All client orders are received and sent automatically from the trading platform directly through to the liquidity providers. This means that you can get your trades executed at the best market prices available at any time. I would compare the liquidity and execution to what top-brokers such as IC Markets have.
FXGiants are regulated by some top-tier regulators. This gives me confidence to trade with them without needing to worry about the safety of my funds. I would always prefer to use a regulated broker as there is some protection in place in the unlikely event that something was to go wrong. Not all regulators are the same, which is why it is nice to see the broker is regulated in multiple jurisdictions. The group contains 3 companies registered in Australia, Bermuda and the United Kingdom respectively.
- FXGiants is a trade name of Notesco UK Limited. Notesco UK Limited is authorised and regulated by the Financial Conduct Authority (FCA) with registration number 585561.
- FXGiants AU is a trade name of Notesco Pty Limited. Notesco Pty Limited is authorised and regulated by the Australian Securities and Investments Commission (ASIC) with Australian Financial Services License (AFSL) number 417482.
- The global offering of FXGiants, FXGiants BM is operated by Notesco Limited and registered in Bermuda with company registration number 51491.
The broker keeps client funds isolated from the company funds, in segregated accounts with top tier banks. They follow strict policies and procedures, with activities monitored and reviewed by external and internal auditors. This helps to assure clients that funds are safe. Client accounts also have negative balance protection which effectively means that all negative balances are covered by the company. They do implement an automated risk-management system to ensure that client account balances will never go negative.
They are a member of the Financial Services Compensation Scheme (FSCS) so clients may be eligible to receive compensation in case of the inability or failure of the company to fulfil its financial obligations.
The broker does not offer trading services to residents of certain jurisdictions including USA, Iran, Cuba, Sudan, Syria and North Korea. If your country is not accepted, you may wish to take a look at our broker reviews for an alternative option.
You can trade on a range of powerful and flexible trading platforms that are freely available for both Windows and Mac Operating Systems, along with mobile applications for smartphone and tablet devices (Android & iOS) which allow you to access your trading account whilst on the go from anywhere in the world with an internet connection. You can have immediate unrestricted access to all of the platforms offered through 1 trading account.
MetaTrader 4 (MT4) Trading Platform
Developed by trading software company MetaQuotes, MT4 is one of the most popular trading platforms that is used by millions of forex and CFD traders worldwide. It is well known for having a very intuitive interface that has a quick learning curve and an abundance of trading tools for conducting chart analysis. This makes it a top choice for new and experienced traders alike. I have been using MT4 for many years and find it perfect for analysing the markets and placing trades with minimal fuss. I also think it is the best trading platform for automated trading.
MT4 Desktop Features:
- Real-time quotes of multiple assets in the market window
- Multiple order types supported including market execution and pending orders
- 9 timeframes from 1 minute to 1 month
- Multiple chart types including bar, line and candlesticks
- Advanced charting tools including 30+ technical indicators & graphical objects
- Alert notifications via the platform, SMS and email
- One-click trading
- Fully automated trading via expert advisors (EAs)
- Strategy tester for back testing EAs over historical data
- MQL programming interface for creating custom indicators and EAs
- Trading signals, indicators and EAs via online MQL community
- Real time activity reports
- Dynamic security system
MetaTrader 4 (MT4) Mobile Application
The MT4 mobile application maintains most of the core functionality of the MT4 desktop platform with the added convenience of being able to access your account and trade from within the palm of your hands. I always find myself checking the app to see how my trades are performing. It is excellent to have the markets in your pocket at all times. You can even set price alert notifications to let you know what is happening in the markets at all times. A disadvantage of the mobile platform is that it is not able to run automated trading systems. You will need the desktop version of the platform for that.
MT4 Mobile Application Features:
- Maintains most of the same features as the MT4 desktop platform
- All order types and execution modes
- Technical indicators and analytical objects
- Real-time quotes and interactive charts
- Trading history
- Push notifications
- User friendly interface
You can also trade on the MT4 web-based trading platform which is accessible with no downloads required as it runs directly within most modern browsers. It gives you full access to their multi-product trading accounts including full functionality via a simple web interface. Benefits of the web platform include that its always up to date and you can access it from any device. That being said, it is limited in certain aspects just as the trading app. It also doesn’t support automated trading like the desktop platform does.
MT4 WebTrader Features:
- 100% web-based platform, access your MT4 and its features from anywhere with an internet connection
- Fully synchronized to the downloadable version of MT4
- Real time live price monitoring of financial instruments
- Traders can use the web terminal without registration on the MQL community
- A modern HTML5 application that runs without any additional browser plug-ins or add-ons
- The web terminal is safe to use as any transmitted information is securely encrypted
Personal Multi-Account Manager (PMAM)
The broker does offer a PMAM platform for money managers and investors. Multi Account Manager (MAM) is designed to provide the professional trader with the essential integrated software tools to quickly and conveniently allocate and manage funds under master account arrangement in live trading conditions. If you don’t have the time or expertise to trade, you might want to browse through the PMAM options to see what is available. If you are looking for managed account solutions, I think FXOpen could be another great option to consider.
- Real time live price monitoring of financial instruments
- Orders, positions, equity and exposure online management
- One-click order entry
- Manage unlimited number of accounts
- Create multiple funds
- Live activity reports
Whilst there is already a vast array of tools built into the provided trading platforms, you can also get access to some additional free trading tools that can be used to assist with your trading activities. There are tools for generating signals and remotely running platforms but they don’t have the powerful standalone market analysis software that Forex.com does.
The broker has partnered with the popular online trading community Myfxbook to allow clients to copy trades automatically to their MetaTrader 4 accounts via the Myfxbook AutoTrade copy-trade platform. I have been using Myfxbook for many years, not for the AutoTrade but the many other features it has. I have hooked up countless trading accounts to analyse the performance of my trading strategies across different brokers. I highly recommend checking it out even if not for this particular reason. It is free to register and use.
Myfxbook AutoTrade Benefits:
- Anyone can connect with other traders to diversify their trading portfolio
- Only historically profitable and verified systems are shown, hand-picked from real accounts
- Easy to use without having to download or run any software
- Experienced traders can profit by being followed by other traders
- Add or remove accounts at anytime
Whilst the AutoTrade feature can be very useful for those that do not have the time or knowledge to trade, it should be strongly noted that there is absolutely no guarantee of performance and historical results are by no means an indication of future results.
Free Virtual Private Server (VPS)
A VPS can be useful to run the MT4 platform 24/7 which is often required by those who use expert advisors (EAs) and those who cannot always have their computer switched on. With a VPS, MT4 is continuously running on a remote server so will remain up and running even if you switch your own computer and devices off. You can access the remote server at anytime and use the terminal as if it was on your own computer.
New and existing clients can apply for a VPS which can enhance performance in terms of lowered latency due to the VPS locations being close to trade servers, stability and portability. It can help to eliminate factors which can delay your ability to trade effectively such as internet connection speeds, computer failure or power cuts. I actually run my own VPS as I need multiple platforms running my automated strategies around the clock.
Key benefits of a VPS include:
- Ready-made and configured virtual trading terminal
- Optimal connection speed with lower latency
- Optical fibre connectivity
- Ability to run orders with minimal delay
- Ideal for running EAs around the clock
- Quick recovery of lost data
- No need to keep your computer running
FXGiants offer a free MT4 VPS to new and existing clients who deposit and maintain a minimum amount of at least $5,000 or equivalent in other currency. Clients who do not meet the above criteria can still request the FXGiants MT4 VPS hosting although they will need to cover the VPS cost. If you want a free VPS, Axi also have one available.
The broker has a vast range of educational materials that are accessible via their online trading academy. This includes economic news and calendar, educational videos, eBooks, webinars and glossary of trading terms. If you are new to trading, I am sure you will find some of the material very useful in helping you get started along your journey.
Educational Trading Videos
Users who are registered have access to a range of over 60+ educational videos that cover a variety of trading topics including an introduction to different markets, trading strategies, trading platforms, market analysis and more. I found them to be easy to understand, well explained and enjoyable.
Within the FXGiants educational academy you will find a range of eBooks that cover different topics from Forex, Stocks, CFDs & Cryptocurrency. These eBooks contain information relevant for both beginner and advanced traders. Considering how much some companies charge you to learn trading, it is great that the broker has gone out of their way to provide a good range of free educational content to traders.
The PForex app has more than 100 trading courses and videos suited to traders of all levels and styles. The educational material is available in multiple languages and can help to enhance your overall trading knowledge. I had a look through and found there to be some powerful technical analysis with enhanced algorithms and detailed specifications.
I was pleased to see that the broker has a generous range of financial instruments. You can choose from over 200+ tradeable instruments across multiple asset-classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs. The offering is typical from what you will find from most brokers. However, if you need that little bit more to diversify your portfolio, IG have an excellent selection of more than 17,000 instruments in comparison.
The broker offers a range of major, minor and exotic currency pairs including the EURUSD, GBPUSD, USDJPY and many more. The Foreign exchange (forex) market is the largest financial market in the world where daily transaction volumes in the trillions of dollars take place every day across a global network of banks, dealers and brokers. Forex trading has no centralised marketplace and thus can be traded in whatever market is open at any given time, enabling traders to buy and sell currencies around the clock 24 hours a day, 5 days a week.
You can trade CFDs on shares on some of the most well-known and most liquid shares in the world including Amazon, Apple, Google, Microsoft, Facebook, eBay and many more. Shares are some of the most popular financial instruments that are traded worldwide. Trading shares through contract for differences (CFDs) enables traders to take “short” or “long” positions for a specific stock without needing to own the underlying asset.
The broker offers CFD trading long and short on metals (gold, silver, platinum, palladium) with competitive spreads and execution speeds. There is no centralised marketplace for metals trading and thus metals trading is accessible 23 hours a day, 5 days a week.
Indices & Commodities Trading
FXGiants indices and commodities allow you to invest in different market segments from around the globe with tight spreads and low margin requirements. Index trading is trading a group of stocks which make up the index. An index is computed from the prices of selected stocks and a measurement of the value of a particular section of the stock market. Indices offered include Nasdaq100, Dow Jones 30, Germany 30 (DAX), FTSE 100 and many more.
Futures contracts are commonly accepted as being among the most liquid instruments with large volumes traded daily. They are often used to help diversify a portfolio. They offer futures trading on US500 E-mini S&P 500, US100 E-mini NASQAD 100, P225 Nikkei 225 USD Index, UK100 FTSE 100 Index Future, China50 FTSE China A50 Index, AUS200 ASX SPI 200 Index and many more.
Cryptocurrencies are a digital online currency based on complex mathematical algorithms and decentralised in nature. This means that their production is not subject to governmental or banking order. You can trade cryptos with some of the most popular digital currencies such as Bitcoin and Ethereum.
There are a variety of flexible trading accounts to choose from depending on your trading strategy. I sometimes prefer this to a broker that has only one account type as each trader is different. One may need low spreads and be happy to pay a commission on top, others may want zero commission fees and don’t mind a higher spread. Each live account is designed with a different type of investor in mind. From experienced traders to beginners, from small depositors to large, the range of live accounts offered are tailored to match individual needs and goals. The main difference between accounts is the commission charge and size of the spreads. I found all accounts to have very goods trading conditions, so unless you are specifically looking for tight spreads, I think all should suffice., However, if you do need razor sharp pricing, you might want to consider Pepperstone instead.
The micro account has the option to choose between a fixed spread starting from 2.2 pips or variable spreads starting from 1.1 pips. The minimum deposit required is $100 and minimum lot size 0.01. It includes a dedicated account manager and dealing department transaction hotline.
The premium account has the option to choose between a fixed spread starting from 1.2 pips or variable spreads starting from 0.7 pips. The minimum deposit required is $1,000 and minimum lot size 0.01. It includes a dedicated account manager and dealing department transaction hotline.
Fixed Spread Account
The 0 fixed spread account has variable spreads starting from 0 pips and a commission charge from $18 per lot per round turn. The minimum deposit required is $500 and minimum lot size 0.01. It includes a dedicated account manager and dealing department transaction hotline.
STP/ECN No Commission Account
The STP/ECN No Commission account has variable spreads and no commission charged. The minimum deposit required is $200 and minimum lot size 0.01.
Absolute Zero STP/ECN Account
The Absolute Zero STP/ECN account has variable spreads starting from 0 pips and no commission charged. You will need to contact your account manager to apply for this account.
STP/ECN Zero Spread Account
The STP/ECN 0 Spread account has variable spreads starting from 0 pips and a commission charge from $7.5 per lot, depending on the account size and instrument traded. The minimum deposit required is $500 and minimum lot size 0.01.
You can trade with a risk-free demo account that comes preloaded with virtual funds. This can be a great way to trial the broker and practice your trading strategies on the provided platforms. Once you build up enough confidence, you may then consider making the seamless switch over to a live account.
Opening an account is a simple process. There is a short online form to complete and you will need to upload some documents for KYC purposes. This can include a passport or driver’s license for identification and utility bill no older than 3 months as proof of address. Once your documents have been verified by the accounts team you will be able to fund your account and commence trading. Trading accounts can take up to 24hrs to be approved, you can check the status of your account via MyFXGiants portal under ‘My Account’.
FXGiants friendly, prompt and efficient customer support team is available 24/5 via online chat, telephone and email. Support is multilingual, with toll free numbers for various countries on the website. The online chat customer services team are very quick with their responses. I have always been happy with the quality and speed of support. If you would prefer 24/7 support, FP Markets are one of my top choices.
The client portal user interface provides a choice of easy, fast and secure deposit and withdrawal methods. This includes Wire Transfer, Credit/Debit Card, FasaPay & UnionPay. I think they could improve by adding some more digital wallets and support for crypto funding. FXPRIMUS have a better selection, including cryptos.
Payment and funding authorisation are 100% automated. The broker does not accept cash deposits. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on methods in some countries. The broker strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your trading account.
Accounts can be opened in a great choice of currencies including USD, EUR, GBP, AUD, JPY, CHF, PLN, CZK, HUF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, I really like what FXGiants have to offer when it comes to trading online. There are plenty of instruments to choose from and user-friendly platforms that can be conveniently accessed from all of your devices. I was impressed with the trading tools, especially the option of a free VPS and implementation of Myfxbook signals. I also feel there is a good variety of guides and videos to assist beginners. Amongst the standout features are the flexible account types and high leverage going all the way up to 1:1000 for qualifying traders and commission free account options. I thought that the trading conditions were generally excellent, including tight spreads from as low as 0.0 pips, lots of liquidity for good pricing and execution speeds. Managed accounts are available for money managers and investors alike. I do believe they could support some additional payment options and perhaps upgrade to the MetaTrader 5 platform. That being said, I think most retail and institutional traders will be more satisfied with this broker. The fact that they are regulated gives me peace of mind that I can focus on my trading without worry.
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