FXGiants, regulated by the FCA in the United Kingdom, is a British Forex broker offering both retail Forex trading in more than 80 currency pairs, as well as trading in a range of Indices, Commodities, CFDs, Futures and individual shares. FXGiants were only established in the U.K. in 2015, but they have been around for longer in Australia and the company behind the organization is a well-established veteran of the Forex brokerage industry.
FXGiants genuinely offers a meaningfully wide range of account types: it is possible to open either a market maker or no dealing desk type account, based on either commission only or spread type commissions, and regarding spreads they can be either fixed or floating.
Four account types are offered to accommodate these choices.
A micro account may be opened with a minimum deposit of $100 with either fixed or floating spreads. The benchmark EUR/USD spread is 2.2 fixed and a minimum of 1.1 floating. Maximum leverage given is 500 to 1 and the account may be opened in a wide range of base currencies.
A premium account may be opened with a minimum deposit of $2,500 with either fixed or floating spreads. The benchmark EUR/USD spread is 1.2 a minimum of 0.7 floating. Maximum leverage given is 500 to 1 and the account may be opened in the base currencies of USD, EUR or JPY.
A “0 Fixed Spread” account may be opened with a minimum deposit of $500. Maximum leverage given is up to 200 to 1 and the account may be opened in a wide range of base currencies. A minimum commission of $18 per lot is charged, which equates to an effective spread of about 1.8 pips on the benchmark EUR/USD currency pair.
An “STP/ECN No Commission” account may be opened with a minimum deposit of $100 with either fixed or floating spreads. The benchmark EUR/USD spread is 2.2 fixed and a minimum of 1.1 floating. Maximum leverage given is 500 to 1 and the account may be opened in a wide range of base currencies.
The spreads are quite competitive for the quoted minimum account sizes.
A demo account is available, as is typical with nearly all spot Forex brokers.
Islamic accounts and managed accounts are also offered.
A wide range of Forex currency pairs, Indices, Commodities, CFDs, Futures and individual shares may be traded with FXGiants.
Trading can be done 24/5 through the Metatrader 4 (available with Mac, Windows, tablet or smartphone) or Personal Multi-Account Manager (PMAM) (not available on mobile devices) platforms.
The trader platforms offered are the well-known and extremely popular, easy-to-use Metatrader 4, and a Personal Multi-Account Manager (PMAM). The PMAM platform allows the management of multiple accounts and the creation of multiple funds, and is aimed at the semi-professional money manager managing assets on behalf of clients.
FXGiants clearly focus on delivering a wide range of tradeable assets with prompt execution and easy-to-use platforms rather than the frills that some less substantial brokers prefer to lead with. As such, their educational content is restricted to a Forex Glossary and headlines concerning key economic and Forex-related news releases. The Glossary is useful but a little limited.
Bonuses and Promotions
At the time of writing, all new clients are entitled to a $35 bonus, which does not even require a deposit! This means that any eligible person can simply sign up and begin trading with $35.
There are no other current promotions, true to FXGIants’ reputation as a broker eschewing gimmicks.
Depositing funds into an FXGiants account is an easy and secure process. Funding can be done using a range of credit and debit cards, as well as by bank wire, neteller, fasapay, skrill, China Union, UnionPay and DotPay. Withdrawals can be made through exactly the same methods.
Different methods are subject to differing fees and conditions. The largest possible withdrawal fee that might be incurred is capped at $30.
Most of the maximum transaction levels are capped at approximately $5,000.
Customer support is based in London, United Kingdom, and is available in the English language. Traders can also contact FXGiants representative by telephone during business hours speaking a wide range of other languages, including Chinese, Spanish, Russian, Korean, Italian, Indonesian, Hungarian, Malay, Polish and Portugese.
Clients may use email anytime of the day. Chat is also available as a communication channel.
Safety of Funds
FXGiants place client money in segregated accounts with top tier banks. Additionally, as FXGiants are regulated by the FCA, depositors are insured by the British government up to deposits totaling GBP 75,00.
FXGiants seems to provide a decent, well-regulated, non-nonsense and safe offering for anyone wishing to trade not only a very wide range of Forex currency pairs, but also diversified instruments across all asset classes.