FXGiants Review 2020
FXGiants is a multi-regulated online broker offering clients 200+ instruments on powerful trading platforms with very flexible account types and a vast range of educational materials.
FXGiants Review 2020, Pros & Cons
- Strict regulation
- Segregated client funds
- Financial Services Compensation Scheme (FSCS)
- Commission free trading
- Fixed spread accounts
- Free VPS
- Myfxbook AutoTrade
- No US clients
- Limited funding options
In this detailed FXGiants review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FXGiants is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including FXGiants.
FXGiants Review: Summary
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.
Founded in 2015, FXGiants are 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 leverage of up to 1:1000 is available.
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.
Clients 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.
FXGiants offer trading 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.
FXGiants Review: Regulation
The FXGiants group contains 3 companies registered in Australia, Bermuda and the United Kingdom.
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.
FXGiants keep 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.
FXGiants 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.
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.
FXGiants Review: Countries
FXGiants do not offer trading services to residents of certain jurisdictions including USA, Iran, Cuba, Sudan, Syria and North Korea. Some FXGiants broker features and products mentioned within this FXGiants review may not be available to traders from specific countries due to legal restrictions.
FXGiants Review: Trading Platforms
FXGiants offer 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 Russian software company MetaQuotes, MT4 is one of the most popular trading platforms that is used by millions of 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.
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.
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
FXGiants offer the MT4 web-based trading platform which is accessible with no downloads required as it runs directly within most modern browsers. It gives users full access to their multi-product trading accounts including full functionality via a simple web interface.
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
The MT4 web terminal supports the following web browser versions and above:
- Internet Explorer 11
- Microsoft Edge 12
- Mozilla Firefox 34
- Google Chrome 43
- Safari 8
- Opera 32
Personal Multi-Account Manager (PMAM)
FXGiants 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.
- 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
FXGiants Review: Trading Tools
Whilst there is already a vast array of tools built into the provided trading platforms, FXGiants also offer some additional tools that can be used to assist with your trading.
FXGiants 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.
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 FXGiants 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.
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.
- 2.4GHz Intel Xeon CPU
- 2GB Ram
- 30GB of HDD Storage Space
- Microsoft Windows Server 2012 R2
- Custom configurations available
- Dedicated IP
- Hosted in Secure Data Center
- Available in 24 hours
FXGiants Review: Education
FXGiants have 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.
Educational Trading Videos
Users who are registered with FXGiants 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.
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.
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.
FXGiants Review: Trading Instruments
FXGiants have over 200+ tradeable instruments across multiple asset-classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.
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 currency 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.
FXGiants offer traders a range of major, minor and exotic currency pairs including the EURUSD, GBPUSD, USDJPY 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.
FXGiants offer 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.
FXGiants offer clients 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 & 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 by FXGiants 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.
FXGiants 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. FXGiants offer some of the most popular cryptos for trading such as Bitcoin, Ethereum, Ripple and Litecoin.
FXGiants Review: Trading Accounts & Fees
FXGiants have a variety of flexible trading accounts to choose from. 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.
As broker fees can vary and change, there may be additional fees that are not listed in this FXGiants review. It is imperative to ensure that you check and understand all of the latest information before you open a FXGiants broker account for online trading.
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.
0 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 FXGiants account manager to apply for this account.
STP/ECN 0 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.
FXGiants Review: Customer Service
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.
FXGiants Review: Deposit & Withdrawal
The FXGiants 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.
Payment and funding authorisation are 100% automated. FXGiants do 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. FXGiants strictly do not accept third-party payments. All funds deposited into your trading account must be under the same name as your FXGiants trading account.
Accounts can be opened in 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.
FXGiants Review: Account Opening
Opening an account with FXGiants 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 Review: Conclusion
FXGiants is an established and multi-regulated online broker offering clients around the globe a wide range of trading instruments across intuitive and user friendly trading platforms. They have a good selection of educational materials and very flexible account types to suit the needs of different traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.44% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.