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FXGT.com Review 2024

By:
Plamen Stoyanov
Updated: Nov 29, 2023
Overall Rating
4
  • Trust
    2.5
  • Fees
    3.1
  • Platforms and Tools
    4.3
  • Tradable Instruments
    4.3
  • Customer Support
    5
  • Research
    4.1
  • Deposit and Withdrawal
    5
  • Account Types and Terms
    4.9
  • Education
    3
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on FXGT.com

    Founded in 2019 and based in Seychelles, FXGT.com offers over 150 instruments, including unique NFTs and synthetic cryptocurrencies, on MetaTrader 4 and MetaTrader 5 platforms.

    I found that the broker’s spreads are competitive for its popular STP accounts, though ECN account commissions are above the industry norm.

    FXGT.com excels in cryptocurrency trading, accepting crypto payments, offering a wide range of crypto CFDs, and providing synthetic crypto access.

    I concluded that FXGT.com caters to beginners with various account options and robust customer support. Seasoned traders will appreciate the selection of rare, volatile instruments and the facilitation of high-frequency trading strategies.

    Recommended in 5 best broker guides: 
    High Leverage | Crypto PaymentsNo Deposit Bonus

    FXGT.com Pros and Cons

    Pros Cons
    • Crypto-friendly services 
    • Very diverse account types
    • Private indemnity insurance 
    • 24/7 customer support
    • High spreads on the Standard+ account
    • Narrow research and educational materials

    FXGT.com Highlights for 2024

    • FXGT.com is licensed by two Tier-3 regulators (FSA and VFSC) and one Tier-2 regulator (FSCA). The broker has issued private indemnity insurance, enhancing its overall safety.
    • I assessed the broker’s trading fees across several accounts and found them to be, in general, medium to high compared to the industry average.
    • FXGT.com supports the renowned MetaTrader 4&5 with automated trading available. The broker also offers VPS hosting.
    • FXGT.com offers a medium-to-high number of instruments from most of the bigger asset classes, except for CFD shares.
    • One of FXGT.com’s best features is its diverse account types, tailored to serve the needs of different kinds of traders.
    • FXGT.com has a decent amount of research and educational materials, though their scope is quite narrow and only covers the ABCs of trading.

    What Sets FXGT.com Apart?

    I was impressed by FXGT.com’s commitment to supporting trading with digital assets. In addition to its 33 cryptocurrency CFDs and the possibility of using a cryptocurrency as your account’s base currency, FXGT.com also offers synthetic cryptos, NFTs and DeFi tokens, and even a composite crypto index.

    These synthetics combine cryptos and instruments from other markets, such as shares and commodities. Essentially, this gives traders the possibility to diversify their trading opportunities and hedge their positions. For instance, if you believe gold will appreciate next, you can go long the commodity.

    I also appreciated FXGT.com’s cryptocurrency index, which is quite unique. The GTi12 index is comprised of 12 of the more popular cryptos in the industry. It gives traders a more balanced exposure to the crypto market, allowing them to profit as the market moves. You can read more about it here.

    Who is FXGT.com For?

    Even though FXGT.com is suitable for a wide range of traders, I consider its services to be best suited for cryptocurrency traders. By being able to select crypto (Bitcoin, Cardano, Ethereum, Ripple, Tether) as the base currency for your account, you can avoid paying any conversion fees (the cost of trading with instruments that are not denominated in your account’s currency) when trading with assets denominated in the same crypto.

    You are also given access to a wide selection of crypto instruments, both CFDs and synthetic contracts. This diversity is great as it allows you to exploit different opportunities and hedge your positions.

    We performed our tests on an ECN account using MetaTrader 5’s desktop and mobile app versions. The account was opened with the GT Global Ltd entity of the broker, regulated in Seychelles by the FSA. Some features and services may vary depending on where you reside and which entity you open an account with.

    FXGT.com Main Features

    ☑️ RegulationsFSA (Seychelles), FSCA (South Africa), VFSC (Vanuatu)
    🗺 Supported Languages
    Turkish, English, Thai, Arabic, Spanish, Japanese, Vietnamese
    💰 ProductsCurrencies, Stocks, Crypto, Indices, Commodities
    💵 Min Deposit$5
    💹 Max Leverage1:1000 (FSA), 1:500 (FSCA), 1:1000 (VFSC)
    🖥 Trading Desk TypeSTP
    📊 Trading PlatformsMT5, MT4
    💳 Deposit OptionsWire Transfer, Local Transfer, Cryptocurrencies, Visa, Mastercard, SticPay
    💳 Withdrawal OptionsWire Transfer, Local Transfer, Cryptocurrencies, Debit Card, Credit Card, SticPay
    🤴 Demo AccountYes
    🗓 Foundation Year2019
    🌎 Headquarters CountrySeychelles
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    FXGT.com Full Review

    Trust

    2.5
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    FXGT.com operates three entities that are regulated in multiple jurisdictions. The company holds licenses from second and third-tier regulators, which is what prevented it from scoring higher in this category. On the other hand, I appreciated FXGT.com for issuing private indemnity insurance on its own initiative to provide its clients with multilayered protection.

    FXGT.com Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about FXGT.com’s several entities:

    • GT Global Ltd is licensed and regulated by the Seychelles Financial Services Authority (FSA) under licensing number SD019. The FSA ranks as a Tier-3 regulator on our system.
    • GT IO Markets (Pty) Ltd is licensed and authorized by the Financial Sector Conduct Authority (FSCA) in South Africa under licensing number 48896. We rank the FSCA as a Tier-2 regulator.
    • GT Global Markets Ltd is licensed and regulated by the Vanuatu Financial Services Commission (VFSC) under licensing number 700601. The VFSC ranks as a Tier-3 regulator on our system.
    360 Degrees Markets Ltd’s licensing info on fsaseychelles.sc

    We have summarized the most essential aspects of FXGT.com in terms of regulation and safety in the table below:

    Entity Features 360 Degrees Markets Ltd GT IO Markets (Pty) Ltd GT Global Markets Ltd
    Country/Region Seychelles/Mahe South Africa/Umhlanga Vanuatu/Port Vila
    Regulation FSA FSCA VFSC
    Tier 3 2 3
    Segregated Funds Yes Yes Yes
    Negative Balance Protection Yes Yes Yes
    Compensation Scheme Up to EUR 1,000,000 Up to ZAR 10,000,000 Up to EUR 1,000,000
    Maximum Leverage 1:1000 1:500 1:1000

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. But licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account with beforehand.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All of FXGT.com’s entities comply with this requirement.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. This is especially important in volatile markets. All of FXGT.com’s entities comply with this requirement.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. In the case of 360 Degrees Markets Ltd., there is private indemnity insurance issued by the broker.
    • Maximum leverage. Capping the maximum leverage limits the maximum market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. Under the Seychelles entity, the maximum leverage permitted is 1:1000, which is high above the industry average.

    Is FXGT.com Safe to Trade With?

    While researching FXGT.com, I discovered that the broker has issued private indemnity insurance covering its clients by up to EUR 1,000,000. This means that its clients are protected against the broker’s credit risks and liabilities.

    FXGT.com also ensures segregated funds and negative balance protection. There is, however, no cap on the maximum leverage permitted, though experienced traders with a keen understanding of risk management can turn this into an advantage.

    FXGT.com’s indemnity insurance

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

    With regards to stability, I consider FXGT.com to meet the standards. This is underscored by the fact that the broker has issued private indemnity insurance on its own initiative, without being mandated by any of its regulators.

    Regarding FXGT.com’s transparency, I assessed it to be generally very high. Information is clearly presented and easy to find on the website; traders can check information pertaining to the broker’s several licenses with only a few clicks. I also appreciated FXGT.com for being quite straightforward when it comes to fees transparency:

    Live feed of FXGT.com’s spreads for the various account types on the website

    The broker has integrated a live feed on the website, which I consider to be highly useful. Potential clients can use it to check the spreads, commissions, and swaps for each instrument and each of FXGT.com’s different account types fairly quickly.

    In summary, my research indicates that FXGT.com can be regarded as having a decent level of trust and stability due to the following factors:

    • Ensures most essential safety policies
    • Issued private indemnity insurance
    • Maintains rigid capital adequacy ratio

    Fees

    3.1
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    I checked the competitiveness of FXGT.com’s fees on its STP and ECN account types and determined that they vary greatly. Generally, there is a trade-off between high commissions and high spreads. There is also an inactivity fee, but the broker does not charge deposits and withdrawals.

    FXGT.com’s Trading Fees

    FXGT.com’s Spreads

    I tested FXGT.com’s spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 30 May 2023.

    Instrument Live Spread AM Live Spread PM
    EURUSD 0.4 pips 0.5 pips
    GBPJPY 0.7 pips 0.5 pips
    Gold (XAUUSD) 15 pips 21 pips
    Crude Oil 0.04 pips 0.05 pips
    Apple NA 0.33 points
    Tesla NA 1.03 points
    Dow Jones 30 1.44 basis points 1.88 basis points
    Germany 40 0.80 basis points 0.94 basis points
    Bitcoin $5.2 $4.56

    Broken down by asset class, FXGT.com charges low spreads on FX pairs, low-to-medium on commodities, low-to-high on CFD shares, low on indices, and low on cryptocurrencies. The recorded spread on BTCUSD, in particular, is quite significant because, as I mentioned above, the broker seems to have tailored its services to the needs of crypto traders.

    FXGT.com’s Swap Rates

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full contract (100,000 units) of the base currency.

    Instrument Swap Long Swap Short
    EURUSD Charge of $9.37 Credit of $1.92
    GBPJPY Credit of $6.0 Charge of $21.98

    Traders should be mindful of the swaps when picking an instrument to trade. Eyeing the findings from the table above, suppose you consider it equally plausible that the EURUSD will go down and the GBPJPY up in the coming days. Your account will be credited whatever way you wish to go, but clearly, it will be better, all other things equal, to go long the GBPJPY pair.

    FXGT.com’s Commissions

    FXGT.com charges fixed commissions per traded lot (100,000 units) only on its ECN account. By asset class, there is a $6 round-turn commission charged on all FX pairs, a $5 round-turn commission on metals, and a 0.1% round-turn commission on crypto assets.

    Round turn means that the commission is charged for executing a trade. For instance, if you were to trade 1 lot on the EURUSD pair, you would first pay a $3 commission for placing the order and then an additional $3 for closing the trade.

    I evaluated FXGT.com’s commissions and found them to generally meet the industry average.

    FXGT.com’s Non-Trading Fees

    FXGT.com charges an inactivity fee of $10 (or the equivalent in the account currency). This fee is applied monthly on dormant accounts on which no activity (trading/ withdrawals/ deposits) has been registered for a period of 90 calendar days. The fee is applied each month until activity resumes or the account balance drops to zero.

    The broker does not charge any handling fees for deposits or withdrawals.

    Are FXGT.com’s Fees Competitive?

    On balance, FXGT.com’s fees are medium-to-high compared to the broader industry. I assessed its spreads on the ECN account type to be extremely low. However, the corresponding commissions exceed the industry average. Thus, I estimated the account’s pricing model to be suitable for implementing high-volume trading strategies.

    Standard+ and ECN Accounts Comparison

    To help you better understand the difference between FXGT.com’s Standard+ and ECN accounts in terms of trading costs, I have compiled the table below. It illustrates the spreads and commissions I have recorded on the EURUSD for the two account types. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EURUSD if the pip value of the pair is $10.

    Account Type Spread Commission Net Cost
    Standard+  2.2 pips 0 $22
    ECN 0.4 pips $6 $10

    My test indicates that it will cost you $22 (2.2 pips x $10 pip value) to trade one full-sized lot on the EURUSD on a Standard+ account. The same position will cost you $10 on an ECN account. You will have to pay 0.4 pips x $10 pip value + $6 round-turn commission.

    Platforms and Tools

    4.3
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    FXGT.com incorporates the widely popular MetaTrader 4&5 platforms, the preferred choice of many beginners taking their first steps into the world of trading. I personally find the two entries in the popular franchise to be outclassed by newer and sleeker platforms, but they can still be used for basic technical analysis and order execution. FXGT.com also provides various supporting tools.

    MetaTrader became the first successful retail platform, which pretty much set the benchmark for what should be incorporated into such a platform. It consists of watch lists, a chart screen, a pool of technical indicators and drawing tools, and a strategy tester option.

    As a high-frequency trader, I have always looked for precision and efficiency in a platform. And in some ways, MetaTrader delivers on both. Traders can scale price action up and down to gain a sense of the prevailing market sentiment, apply different indicators and objects to examine specific developments in the price action, and with features like one-click trading, they can execute orders fairly quickly and easily.

    In addition to MetaTrader, FXGT.com provides multiple tools to enhance the overall trading experience. Automated trading is available directly from MetaTrader and can be enhanced with FXGT.com’s VPS hosting. I also appreciated the extra value to be had from FXGT.com’s extensive toolkit, affording traders greater freedom when it comes to studying price trends, exercising greater risk management, and more.

    FXGT.com’s Desktop MT5 Platform

    The desktop version of MetaTrader 5

    General Ease of Use

    MetaTrader’s layout is pretty straightforward. You have your watchlists, indicators, and other tools on the left side of the window, a charts screen on the right, the strategy tester panel, and account info at the bottom.

    MetaTrader’s depth of market and one-click trading features

    There are certain features, such as the one-click trading option and depth of market tool, that enhance the overall performance of the platform. They allow traders to easily examine the current market behavior and enter quickly into trades. However, I consider the lack of an instruments search tool to be the biggest drawback of the platform. You have to scroll through the entire list of available instruments in order to find the asset you are looking for, which I find tedious and unnecessary.

    Charts

    In my experience, the charts screen is probably the most important component of every platform. It is the window through which traders can observe price action behavior and understand where the market might be headed next. That is why it is vitally important for a chart to be as clear and informative as possible and allow traders to manipulate price action freely by scaling it up and down easily. Additionally, a good chart should be supplemented by a broad range of technical indicators, drawing tools, and other such instruments to enhance technical analysis.

    Price action on a MetaTrader 5 chart

    My impression of MT5’s charts is that they are somewhat rigid. You can apply multiple indicators and drawing tools, but this can actually lead to obscuring price action rather than contextualizing it. Still, the platform supports a broad range of diverse features. I have broken them down by class:

    • 38 technical indicators. The platform supports trend-based, volume-based indicators and oscillators. Depending on the underlying market sentiment, these can be applied to study different facets of price action behavior. In general, technical indicators are used to gauge where the market is likely to head next.
    • 46 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns, to determine key support and resistance levels, and potential breakout or breakdown levels.
    • 21 timeframes. The one standout feature of MT5 to me is the impressive assortment of 21 timeframes – more than most similar platforms. This collection affords traders a quick glance over currently unfolding trading opportunities in the short and long terms
    • 3 chart types. Price action can be represented as a line, bars, or candlesticks.

    Orders

    Placing a trading order on MT5

    I have broken down the available order types on MT5 below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    FXGT.com’s Mobile MT5 App

    Chart window (on the left), watch list (in the middle), and order placing window (on the right)

    The mobile app affords traders quick and easy access to the market on the go. It is thus indispensable when you have to make swift adjustments to your open positions. I checked the usability of the mobile app version of MT5 by testing how long it would take me to do just that. It took me just a few seconds to log into my account, go to my open orders, and adjust the parameters (move the stop-loss) of a trade.

    On the other hand, the app is not suitable for much else. It is even more cumbersome than the platform’s desktop version, and carrying out sophisticated technical analyses on a small-screened device is virtually impossible. This is a problem that is inherent to almost all trading apps.

    Tradable Instruments

    5
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    FXGT.com offers 150+ tradable instruments from different classes. Traders can choose from FX pairs, commodities, CFD shares, indices, and cryptocurrencies. FXGT.com stands out for its exotic instruments, like synthetic cryptocurrencies, NFTs, and even a cryptocurrency index. I appreciated its availability of high-yield/high-risk instruments, though the number of lower-risk securities is not great.

    Traders should remember that the number and type of instruments offered by FXGT.com varies depending on your jurisdiction. What I thought very useful is that some of the available instruments are denominated in different currencies. Hence, traders can avoid paying conversion fees when trading with instruments denominated in their account currency.

    What are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With FXGT.com?

    Listed below, I have broken down the available instruments by asset class:

    • 53 Currency Pairs
      • Majors, Minor, Exotic
    • 6 Commodities
      • Metals and Energy
    • 27 CFD shares
      • Tech, Retail, Energy
    • 12 Indices
      • U.S., EU, Asia
    • 33 Cryptocurrencies
      • Major, Minor, Crosses
    • 9 Synthetic Cryptocurrencies
      • Commodity, Share, and Indices Crosses
    • 14 NFTs and DeFi Tokens
      • Varied

    FXGT.com offers a low amount of CFD shares, an average amount of FX pairs and commodities, and a high number of indices and cryptocurrencies. Interesting to note that the 27 CFD shares are only of blue-chip American companies. Traders should take this into consideration, especially within the U.S. trading hours.

    Forex Commodities
    EURUSD | GBPJPY | EURCHF | GBPCAD | NZDCHF | USDHKD | USDMXN Gold | Silver | Crude Oil | Brent Oil | Natural Gas
    Share CFDs Indices
    Alibaba | Apple | Tesla | Citigroup | Meta- | Pfizer | PayPal | Netflix | Google DAX 40 | S&P 500 | NASDAQ | CAC 40 | AUSTRALIA 200 | NIKKEI 225
    Cryptocurrencies Synthetic Cryptocurrencies
    BTCUSD | LTCUSD | ADABTC | DOTUSD | BCHEUR | ETHJPY BTCAPL | BTCDOW | BTCMET | BTCNAS | BTCAMZ | BTCXAU
    NFTs and DeFi Tokens
    THTUSD | MANUSD | CHZUSD | ENJUSD | DJBUSD

    Customer Support

    5
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    I reached out to FXGT.com’s support team on several occasions to ask them about different aspects of their service. Their agents are knowledgeable, respond fairly quickly, and have a good command of the English language. They can be contacted 24/7 via phone, email, or live chat.

    Help is available in English, Thai, Japanese, Vietnamese, Turkish, Spanish, and Arabic. For more general queries, you can turn to the broker’s exhaustive FAQ section of the website.

    Customer Support Test

    When we test a broker’s customer support team, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I contacted FXGT.com on 25 May 2023 at around 13:45 CET via live chat. I had to first provide my name and email address. An agent connected almost immediately to the chat. It took him about 5 minutes to get back to me and answer my question regarding one of their market research features.

    Overall, I got a pleasant impression of FXGT.com’s support service and would recommend it for any questions you might have relating to the broker and its offering.

    My conversation with FXGT.com’s support team

    Deposit and Withdrawal

    5
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Clients of FXGT.com can choose from several payment methods, including bank wire, credit/debit card, and various crypto-wallets, underscoring the broker’s ongoing commitment to supporting crypto trading. The broker does not charge deposits or withdrawals, and most transactions are processed fairly quickly.

    FXGT.com Deposit Methods

    Method Currency Min. Deposit Processing Time Fees
    Bank Wire JPY 10,000 JPY Up to 5 business days Depends on the amount
    Credit/Debit Card USD, EUR, JPY 50 USD, 50 EUR, 5000 JPY Instant $0
    Instant Local Bank Transfer VND, THB, MYR, IDR 20 USD Instant $0
    JCB USD, EUR, JPY 50 USD, 50 EUR, 5000 JPY Instant $0
    Bitcoin BTC 0.0001 BTC 1-30 minutes $0
    Ethereum ETH 0.05 ETH 1-30 minutes $0
    Ripple XRP 25 XRP 1-30 minutes $0
    Cardano ADA 10 ADA 1-30 minutes $0
    Tether ERC20 USDT (ERC20) 25 USDT 1-30 minutes $0
    Tether TRC20 USDT (TRC20) 25 USDT 1-30 minutes $0
    Bitwallet USD, EUR, JPY 10 USD, 10 EUR, 1000 JPY Instant $0
    Sticpay USD, EUR, JPY 5 USD, 5 EUR, 5000 JPY Instant $0
    Binance Pay USDT 25 USDT Instant $0

    FXGT.com Withdrawal Methods

    Method Currency Min. Deposit Processing Time Fees
    Bank Wire JPY 10,000 JPY Up to 5 business days Depends on the amount
    Credit/Debit Card USD, EUR, JPY 50 USD, 50 EUR, 5000 JPY 2 business days $0
    Instant Local Bank Transfer VND, THB, MYR, IDR 20 USD Instant $0
    JCB USD, EUR, JPY 50 USD, 50 EUR, 5000 JPY 2 business days $0
    Bitcoin BTC 0.0001 BTC Within 48 hours $0
    Ethereum ETH 0.05 ETH Within 48 hours $0
    Ripple XRP 25 XRP Within 48 hours $0
    Cardano ADA 10 ADA Within 48 hours $0
    Tether ERC20 USDT (ERC20) 25 USDT Within 48 hours $0
    Tether TRC20 USDT (TRC20) 25 USDT Within 48 hours $0
    Bitwallet USD, EUR, JPY 10 USD, 10 EUR, 1000 JPY Within 48 hours $0
    Sticpay USD, EUR, JPY 10 USD, 10 EUR, 1000 JPY Within 48 hours $0
    Binance Pay USDT 25 USDT Within 48 hours $0

    It is important to point out that even though the broker does not have handling fees for deposits or withdrawals, third-party banking charges may apply in some cases. Please refer to the broker’s deposits and withdrawals page for additional information.

    Account Types and Terms

    4.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    FXGT.com offers three retail account types – Standard+, ECN, and Mini – and one professional. The first two serve experienced traders, whereas the Mini account is designed for newbies. Account creation is easy and fast, and you can choose from multiple base currencies. Swap-free trading (Islamic accounts) is also available.

    Why is Choosing the Right Account Type Important?

    Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several things, such as whether the account type has a minimum deposit requirement, what its spreads and commissions are, what the execution method is, and more. ECN accounts tend to be more favorable in general, and I determined this to be the case with FXGT.com too. But they also tend to have higher deposit requirements, so you should weigh your ambitions against your means.

    What Account Types Does FXGT.com Offer?

    I collected data about all the account types offered by FXGT.com and arranged it in the table below, making it easy for you to compare:

    Account Type Pro ECN  Mini Standard+
    Spread From 0.4 pips 0.1 pips 2.4 pips 1.5 pips
    Commission $0 $6 round turn $0 $0
    Max. Leverage 1:1000 1:1000 1:1000 1:1000
    Contract Size 100,000 100,000 10,000 100,000
    Account Currency BTC, ETH, USDT, ADA, XRP, EUR, USD BTC, ETH, USDT, ADA, XRP, EUR, USD BTC, ETH, USDT, ADA, XRP, EUR, USD BTC, ETH, USDT, ADA, XRP, EUR, USD
    Order Execution Market Market Market Market
    Margin Call 50% 70% 70% 70%
    Stop Out 20% 40% 40% 40%
    Islamic Account Yes Yes Yes Yes

    While the ECN account type has more favorable conditions compared to Standard+, FXGT.com has targeted its Mini account towards newbies. Its contract size is smaller than the other two (at 10,000 units) so that beginners do not have to execute massive orders. While the Mini account also permits commission-free trading, I tested how its spreads stack against the spreads on the other two accounts and found them quite high. Returning to the above example, trading 100,000 units on a Mini account will cost $28.

    FXGT.com does not have a minimum deposit requirement, making its accounts quite affordable. Its base currencies include Bitcoin, Ethereum, Ripple, Cardano, USDT, Euro, Dollar, and JPY. Swap-free trading, also known as an Islamic Account, is also available on all account types.

    FXGT.com’s Order Execution Model

    I checked FXGT.com’s speed, quality, and model of order execution and discovered that the broker implements a market execution model with an average execution speed of 120 milliseconds. Essentially, this guarantees volume filling but not necessarily price filling.

    Suppose you wish to go long 100,000 units (1 lot) on the EURUSD at 1.07650. You place your buy order, but there is not enough liquidity in the market at that price level, not enough to fill your order. Hence, no trade is opened. The price then climbs to 1.07700, where there is enough liquidity to fill that volume, and your trade is finally executed. If the value of 1 pip is $10, then you would have missed a chance to generate a $50 profit due to this discrepancy (5 pips).

    The clear advantage of this model of execution is that with it, you are guaranteed entry, in that your order request will eventually be filled once there is enough liquidity. However, the corresponding disadvantage is that you are exposed to price discrepancies in the form of negative slippage.

    In my experience, market execution is better suited for day trading and position trading strategies where volume is important. But it is less so for intraday trading strategies, such as scalping, where precise order filling is more important.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    FXGT.com Account Opening Process

    The account registration process with FXGT.com

    I have broken down the account opening process with FXGT.com in these easy-to-follow steps:

    • Step 1. Click ‘Register Now’ at the top-right corner of the main page.
    • Step 2. State your full name, email address, country of residence, and mobile number.
    • Step 3. Choose a password.
    • Step 4. Check your email and click the confirmational link sent to you.
    • Step 5. Log in to your client portal and accept the T&Cs.
    • Step 6. Select an account type and base currency.
    • Step 7. Choose your preferred leverage, from 1:5 to 1:1000.
    • Step 8. Verify your account by uploading proof of address and ID.

    Why is a Demo Account Important?

    FXGT.com offers demo account which introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    FXGT.com Supported Countries

    FXGT.com does not accept clients from the U.S., European Union countries, Canada, Iran, North Korea, and Belize.

    Research

    4.1
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    FXGT.com has a decent range of research materials that cover current market developments, though they are not particularly penetrating. I checked FXGT.com’s various materials and found them to generally live up to this requirement but leave more to be desired.

    FXGT.com’s proprietary Trader Insights

    Research Tools

    I have broken down FXGT.com’s research materials by type below:

    • Trader insights. An FXGT.com proprietary infographic tool that informs traders about the underlying market sentiment on a given instrument. I appreciated its straightforward design, as it allows traders to quickly grasp the prevailing market opinions at a glance. The insights contain information about the daily, weekly, and monthly pivot points, changes between highs and lows, etc. I also found the charts to be rather plain, without a lot of information, except for major support and resistance levels.
    • Economic calendar. The economic calendar is the most rudimentary research tool and a must-have for forex brokers. It keeps track of upcoming trading events, such as economic releases, policy statements, earnings results, and more. It informs traders about previous releases and current forecasts concerning such events.
    • Technical analyses. These materials inform traders of potentially unfolding trading opportunities on various instruments. Price action is examined, and potential breakdowns/breakouts from major support and resistance levels are underscored. I found lacking a complementary fundamental analysis to contextualize these trading setups.
    • Volatility forecaster. Probably the most useful of the bunch, the forecaster informs traders what times during the day they are likely to observe volatility spikes for each instrument. This is significant because they can implement various trading strategies accordingly. FXGT.com should be applauded for developing such a tool, which is rather uncommon.
    An FXGT technical analysis

    Education

    3
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    I went through FXGT.com’s educational materials and found them to be mostly dedicated to the intricacies of crypto trading. They cover the basics and provide a solid basis for newbies to build upon. However, the broker’s educational materials do not delve much deeper than that.

    FXGT.com does have 5 educational courses that study a range of important topics. However, the broker has no educational videos, no platform videos (except for MetaTrader 5’s in-built ones), and does not publish regular webinars. There is an extensive glossary, a helpful tool covering the ABCs of trading. But there are no broader articles to delve deeper into the material.

    One of FXGT.com’s educational courses

    The Bottom Line

    Even though FXGT is suitable for a wide range of traders, my overall impression is that the broker is most fitted for crypto traders. You can open a crypto account, choose crypto as its base currency, trade with over 50 CFD and synthetic crypto assets, and even deposit and withdraw in cryptos.

    FXGT.com is regulated offshore and complies with the most essential safety requirements. It also can be praised for issuing private indemnity insurance of up to EUR 1,000,000. The broker’s clients can trade on 150+ instruments from different asset classes at a more or less average cost.

    FXGT.com supports the widely popular MetaTrader 4&5 platforms and allows the implementation of various trading strategies, from scalping to day trading. The broker has a market execution model, and its average execution speed is 120 milliseconds.

    I also appreciated FXGT.com for having a wide selection of diverse account types that are also very accessible, though I think the broker can still work to improve its service in certain ways. It can lower the spreads on its Standard+ account to make them more competitive against the ECN account type. Additionally, its educational and research materials have a rather limited scope.

    Beginner traders can benefit from its reliable 24/7 customer support and affordable accounts, as well as from the opportunity to trade on an easy-to-learn platform such as MetaTrader 5 and its predecessor. More experienced traders, in contrast, can take advantage of FXGT.com’s offering of rare instruments, such as a cryptocurrency index and NFTs, and its VPS hosting.

    FAQ

    360 Degrees Markets Ltd is headquartered in Mahe, Seychelles; GT IO Markets (Pty) Ltd is based in Umhlanga, South Africa; and GT Global Markets Ltd is based in Port Vila, Vanuatu.
    The broker has two Tier-3 regulations and one Tier-2 regulation. It complies with most safety requirements and has issued private indemnity insurance. Overall, FXGT.com is a safe broker.
    Reliable customer support, diverse and affordable account types, and three educational courses make FXGT.com a good choice for beginners.
    FXGT.com does not have a minimum deposit requirement.
    Clients of FXGT.com can withdraw funds via bank transfer, credit/debit card, or via crypto wallet.
    FXGT.com usually processes withdrawal requests in up to 2 business days. Transaction times may vary.
    The maximum leverage for retail traders with FXGT.com is 1:1000.
    Accounts can be opened from the main page of the website.
    FXGT.com incorporates MetaTrader 4&5.
    Yes, it does.
    FXGT.com allows scalping, though its market execution model is not the best fit for this type of trading.
    Yes, auto-trading is available with FXGT.com. Traders can use MetaTrader’s Expert Advisors (EAs) feature. They can also take advantage of FXGT.com’s VPS hosting.
    Yes, hedging is allowed with FXGT.com.
    No. Spread betting is not available with FXGT.com.
    Yes, FXGT.com provides VPS hosting. It is available to traders who achieve a certain trading volume per month.
    Depends on the particular asset class. For instance, the Forex market is open 24/5, whereas shares of U.S. companies can be traded during the New York Stock Exch
    No, FXGT.com is not a market maker. It obtains its liquidity from third parties, such as banks and other financial institutions.
    No, FXGT.com is a derivatives broker.

    See FXGT.com Full Information

    Headquarters CountrySeychelles
    Foundation Year2019
    RegulationsFSA (Seychelles), FSCA (South Africa), VFSC (Vanuatu)
    Publicly TradedNo
    Number Of Employees50
    Trading Desk TypeSTP
    Trading PlatformsMT5, MT4
    Restricted Countries
    Canada, North Korea, European Union, United States, Australia, Syria, Sudan
    Supported Languages
    Turkish, English, Thai, Arabic, Spanish, Japanese, Vietnamese
    Min Deposit$5
    Max Leverage1:1000 (FSA), 1:500 (FSCA), 1:1000 (VFSC)
    Deposit OptionsWire Transfer, Local Transfer, Cryptocurrencies, Visa, Mastercard, SticPay
    Withdrawal OptionsWire Transfer, Local Transfer, Cryptocurrencies, Debit Card, Credit Card, SticPay
    Time to Withdrawal2
    Time to Open an Account9
    Crypto
    Ethereum, Bitcoin, Litecoin, Ripple, Cardano
    Products
    Currencies, Stocks, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingYes
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersNo
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartNo
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistNo
    Trading SignalsYes
    Platform Languages
    Multi-lingual
    24 Hours SupportYes
    Support During WeekendsYes
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsNo
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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    CFDs are complex instruments and carry a high level of risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether trading is appropriate for you. You should not invest money that you cannot afford to lose. Leveraged products may not be suitable for everyone and may result in loss of all your capital.