FXGiants Review

FXGiants Review | Expert Review by a Forex Trader

Forex, Metals, Energy, Soft Commodities, Indices, Cryptocurrencies & Stocks

  • FCA & ASIC regulated ✔
  • ECN FX spreads from 0
  • non-ECN FX spreads from 0.7
  • Premium account
  • $100 minimum deposit
  • 200+ instruments
  • ECN and non-ECN accounts
  • MT4 provided
Cryptocurrency CFD Trading • FXGiants

FXGiants Review

This FCA and ASIC regulated broker provides a range of account types which offer different kinds of spreads. Although this is a Forex broker with 80+ Forex pairs along with FX Futures on offer, it also provides a range of markets. Both variable and fixed spreads are available, with and without a commission charge. FXGiants also provides instant dealing desk execution accounts along with no-dealing desk market execution STP/ECN accounts.

Some of its account charge a commission, some do not. The commission charge is for one of the STP/ECN accounts, which provides low spreads and for a non-ECN instant execution account, the 0 Fixed Spread account, which offers fixed spreads starting at 0 for EUR/USD, plus a commission.

So at this broker commission are not necessarily charged only for access to ECN spreads and trading conditions, they are also charged for a dealing desk account, in return for very low fixed spreads. As an ECN broker, it allows scalping and EAs, but also provides dealing desk conditions for discretionary trading. For its dealing desk accounts, it offers a dealing desk hotline.

Market execution vs Instant execution

FXGiants's ECN accounts are market execution, its non-ECN accounts are instant execution. For instant execution, FXGiants says that there is no slippage and that 99.62% of trades are executed in milliseconds, creating dealing desk conditions. So there is the possibility of re-quotes. For market execution, FXGiants says that there are no re-quotes and that 100% of trades are executed in milliseconds, creating no dealing desk conditions.

Cryptocurrency CFDs

FXGiants offers trading in Bitcoin, Ethereum, Litecoin and Ripple.

Minimum deposit and account currencies

The minimum deposit for FXGiants is $100, though its ECN accounts have a minimum deposit of $500. FXGiants can open accounts for residents on many countries, but cannot open accounts for residents of some countries, including the USA, Iran, Cuba, Sudan, Syria and North Korea.

All account types are available in GBP, USD, EUR, AUD, JPY, CHF, PLN, HUF and CZK except for the 0 Spread Account which is available in USD, EUR and JPY.

Free VPS

FXGiants has a free VPS offer, which requires a minimum deposit of $5,000 and maintenance of this balance. The VPS has optical fibre connectivity and 30 GB of HDD Storage Space.

Account types

FXGiants provides a Micro account, a Premium account, a 0 Fixed Spread account, an STP/ECN No Commission account, an STP/ECN 0 Spread account and an Absolute Zero STP/ECN account.

The Micro account has a minimum deposit of $100 and the Premium account has a minimum deposit of $2,500. The 0 Fixed Spread account, the STP/ECN No Commission account and the STP/ECN 0 Spread account have a minimum deposit of $500. The Absolute Zero STP/ECN minimum deposit is upon request to the account manager. The Micro account and the Premium account come in two types, namely Live Fixed Spread or Live Floating Spread. FXGiant's fixed spreads can vary, depending on market conditions and whether it is the day or night session.

The Micro, Premium and 0 Fixed Spread account have a dealing desk hotline and a dedicated account manager available, the STP/ECN accounts do not.

Platform

FXGiants provides MT4 for desktop, tablet and mobile.

Markets

There are over 200 CFD instruments available, covering Forex pairs, Indices, Energy, Soft Commodities, Metals, Cryptocurrencies and Stocks, with both Spot and Futures Indices and FX products. It offers a relatively large number of Forex pairs, with 80+ available, along with FX Futures such as GBP and Euro Futures.

Commissions

FXGiants charges commission on the 0 Fixed Spread account and the STP/ECN 0 Spread account. The commission for the STP/ECN 0 Spread account is $13 per lot round trip. The commission charge for the 0 Fixed Spread account is from $18 per lot round trip.

Minimum trade size

The minimum trade size is 0.01 lots (micro lots) for all account types except for the Premium account where it is 0.1 lots (mini lots).

Spreads and leverage

  • FXGiants provides variable spreads on its ECN account and provides the option of having variable spreads on its Micro and Premium accounts. It also provides the option of having fixed spreads on its Micro and Premium account and offers fixed spreads on its 0 Fixed Spread account, with a commission charge.
  • On its STP/ECN 0 Fixed Spread account, EUR/USD spreads are from 0. On its STP/ECN No Commission account, EUR/USD spreads are from 1.7. On the Live Floating Spread Micro account, EUR/USD spreads are from 1.1. On the Live Floating Spread Premium account, EUR/USD spreads are from 0.7.
  • On the Live Fixed Spread Micro account, EUR/USD spreads are 2.2. On the Live Fixed Spread Premium account, EUR/USD spreads are 1.8. On the 0 Fixed Spread account, EUR/USD spreads are 0, plus a commission charge.
  • Gold (XAU/USD) spreads are from 0.5 except for the STP/ECN 0 Spread account and the 0 Fixed Spread account where they are from 0.15.

Maximum leverage for FXGiants (FCA regulated) is .

Funding

Accounts can be funded via credit/debit card, Bank Wire, Skrill, Neteller, Safecharge, Dotpay, ChinaUnion and EccomPay. FXGiants charges no deposit fees. It does charge withdrawal fees, which vary depending on the withdrawal method.

Regulation

  • FXGiants is a trade name of 8Safe UK Limited which is authorized and regulated by the Financial Conduct Authority (FCA), with FCA No. 585561. Its address is: 55 Old Broad Street, London, EC2M 1RX, United Kingdom.
  • FXGiants is a trade name of GVS (AU) Pty Limited, which is authorized and regulated by Australian Securities and Investments Commission (ASIC), with AFSL no. 417482.
  • FXGiants is a trade name of Balvento Limited, a limited company registered in Bermuda with registration number 51491 and a registered office at Veritas Place, 6th floor, 65 Court Street, Hamilton HM 12, Bermuda Limited.

Summary

This broker provides a range of account types which offer different kinds of spreads. So it provides choice in terms of fixed or variable spreads and also commission charges. As an ECN broker it offers a relatively large number of instruments, as a non-ECN broker it offers a relatively smaller number of instruments. However this is a consequence of the number of Shares CFDs it offers and it provides a competitive range of markets to trade.

Positives and negatives

  • FXGiants offers ECN and non-ECN trading
  • FXGiants provides high leverage
  • FXGiants charges withdrawal fees, but does not charge deposit fees
  • FXGiants offers very low fixed Forex spreads, with a commission charge
  • FXGiants provides very low variable ECN Forex spreads, with a commission charge
  • FXGiants offers competitive variable commission free Forex spreads on its Premium account
  • FXGiants only provides MT4
  • FXGiants offers 80+ Forex pairs and FX Futures along with a range of other markets
  • FXGiants has a minimum deposit from $100
  • FXGiants is FCA and ASIC regulated

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