FXGiants Bermuda Review

FXGiants BM Review | FXGiants Bermuda | Review By A Trader

MT4 broker allowing automated trading with robots and social and copy trading

  • MT4 Broker
  • Social & Copy Trading
  • $100 Minimum Deposit
  • 200+ Markets to Trade
  • 80+ Forex Pairs
  • Automated Trading
200+ Markets To Trade On MT4 •  Free VPS: T&Cs apply • FXGiants

FXGiants Bermuda Review

FXGiants BM is a Bermuda based broker offering MetaTrader 4, automated trading with Expert Advisors, social and copy trading via Myfxbook and Forex leverage up to 1000:1 (increasing leverage increases risk). FXGiants BM has a wide range of markets, including Stocks and Cryptocurrency CFDs and Forex Pairs.

FXGiants is for more than Forex Traders

While FXGiants BM offers trading conditions potentially suited to Forex traders, including MT4, 80+ Forex Pairs, Expert Advisors and social and copy trading, for an MT4 broker it offers a relatively wide range of other markets to trade.

Automated trading

An Expert Advisors (EA) is a computer program which can run automated trading strategies. EAs are part of MT4 and the trader may download EAs and build them. However the trader may wish to run an EA even when disconnected from the broker.

Free VPS offer

To run an EA 24/7 even when disconnected from the broker, the trader may use a VPS, which hosts EAs in a secure data center, utilising fibre optical connectivity. FXGiants BM offers a free VPS, T&Cs apply. To get a free VPS, the trader needs to deposit at least $5000 and maintain at least this balance. If the trader does not meet these requirements, then they can still use a VPS, but will pay a fee. There are more reasons to use a VPS than simply to be able to run an EA when offline, and these include potential speed improvements and increased reliability (as the EA is being executed in a data center, rather than from the trader's computer).

Social and Copy Trading

However the trader does not have to use robots and may use social and copy trading. Social and copy trading lets the trader connect with more experienced traders, either by seeing their views and actions or by copying their trades. FXGiants BM lets traders connect their account with the social and copy trading platform Myfxbook. To use FXGiants BM's features, the trader needs to open an account. The trader can trade on a demo account or may fund a live account.

What funding methods are available ?

The trader can fund their account using Credit and Debit Cards, Fasapay and China Union. FXGiants BM applies no deposit fees however there are withdrawal fees depending on the method used. To trade on a live account, the trader deposits at least the minimum deposit.

What trading bonuses are available ?

FXGiants offers a 100% Bonus Maximiser, a 40% Bonus Bonus up to $4,000 and a 20% Bonus Advantage up to $2,000, T&Cs apply. The bonuses cannot be withdrawn (i.e. they may be used to trade with). FXGiants.

What is the minimum deposit ?

The minimum deposit varies depending on the account type. There are seven account types offered by FXGiants BM. These are the Micro, Premium, 0 Fixed Spread, STP/ECN No Commission, Absolute Zero STP/ECN, STP/ECN 0 Spread and Absolute Zero Plus STP/ECN. The lowest minimum deposit is for the Micro account, which is $100. The lowest minimum deposit for an STP/ECN account is $200, for the STP/ECN No Commission account. The Premium account has a minimum deposit of $1000.

Does FXGiants BM offer any promotions apart from bonuses ?

FXGiants BM has a range of promotions on offer. As well as the Trading Bonuses, these include the Limited Cover Trades Bonus with returns losses on the first five trades up to $500, T&Cs apply and Trading Competitions which can have either a cash prize or a holiday, T&Cs apply. FXGiants

What are the STP/ECN accounts ?

The STP/ECN accounts use STP to connect traders with liquidity via the broker's ECN and offer market execution with no requotes (but may have slippage) and have variable spreads. A requote is when the order is paused to offer another rate, while slippage is an order going though but at a different rate from the one quoted in the order. Automated traders and traders who rely on fast order execution use market execution, as the order will go though even if at a different rate. Only one STP/ECN account charges commissions, this is the STP/ECN 0 Spread account which offers Forex spreads from 0, plus a commission charge from $13.50 per lot.

What is the 0 Fixed Spread account ?

The 0 Fixed spread is not an STP/ECN account. It offers fixed spreads of 0 pips for a range of Forex Pairs, with a commission charge of $18 per lot.

What are the Micro and Premium accounts ?

These are instant execution accounts, which have no slippage (but may requote). Traders who execute their own trades and do not rely on fast order execution may prefer this kind of account, as either the order will go though at the rate requested or the trader can choose whether or not to accept the new rate. They offers the highest leverage, 1000:1 (increasing leverage increases risk) and come with fixed or variable spreads. The Premium account can offer lower spreads, down to a tight 0.7 pips variable and 1.2 fixed for EUS/USD.

What markets does FXGiants BM offer ?

FXGiants offer Forex, Metals, Indices, Futures, Shares and Cryptocurrencies, with a total of 200+. Futures include Commodity Futures like Corn and Rice and Currency Futures.

Pluses and Minuses

  • FXGiants BM offers MetaTrader 4
  • FXgiants BM has 200+ markets to trade
  • FXGiants BM offers 80+ Forex Pairs
  • FXGiants BM allows Expert Advisors (EAs)
  • FXGiants supports autotrading via Myfxbook
  • FXGiants has a minimum deposit from $100

Summary

FXGiants BM is a Bermuda based broker offering a wide range of markets to trade on MT4. It supports social and copy trading and allows the use of Expert Advisors, thus allowing both copy trading and automated trading with robots. FXGiants has a wide range of account types to suit a range of traders, from those who execute their own trades to automated traders.

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