Table of contents:
- 1 About FXGiants
- 1.1 FXGiants in check: Fraud or serious?
- 1.2 Security through FCA regulation
- 1.3 The offer for traders
- 1.4 Five account types for the perfect cost model
- 1.5 A total of around 200 underlyings to choose from
- 1.6 Up to 100 percent bonus possible
- 1.7 Deposits and withdrawals by bank transfer, credit card or e-wallet
- 1.8 Good marks for customer service
- 1.9 Website appears very user-friendly
- 1.10 Mobile app enables trading with the smartphone
- 1.11 Conclusion of the FXGiants review:
- 1.12 Is there a demo account?
- 1.13 Is a withdrawal of the bonus possibly?
- 1.14 What are the trading hours?
- 1.15 Is FXGiants regulated?
FXGiants user-ratings: $100
Asset varierity - 10/10
Trading platform - 8/10
Support - 8/10
Fees - 5.5/10
Deposit/Withdrawal - 9.5/10
Facts about the company:
- Type: Forex and CFD Broker
- Regulation: FCA (UK)
- Minimum deposit: $100
- Demo account: Free
- Markets: 200+ CFDs, equities, equity indices, commodities, and metals
- User-friendly platform
- Easy deposit procedure
- Multilingual support
- Different account types
- No low trading fees
We have tested FXGiants extensively and have compiled all our experiences in our review. However, before we go into the individual results, we would like to inform you here about our overall impression or our most important experiences with this online broker. Who has looked around a little in the scene for online brokers, will know that there are several kinds of providers.
Some specialize in a certain market segment or on certain traders. Others enter the market with the claim to focus on as many traders as possible by offering as wide a range of products as possible. In our experience, the online broker FXGiants clearly belongs to the second group. This becomes clear very quickly after the visitor has looked around the generally well structured and clearly arranged website. There is not only a wide range of underlying to choose from, which in some areas also goes beyond the currently usual spectrum. Also with a view to the accounts that can be used for trading, it becomes clear that FXGiants aim at a very broad audience.
|Company||8Safe UK Limited|
|Address||55 Old Broad Street, London, EC2M 1RX, UNITED KINGDOM|
|Phone||tel: +44 (0) 207 523 5394|
A total of five different account types are available. In addition, there is a demo account so that in principle the offer can be tested in peace. An entry into real trading is possible from a deposit of only 100 Dollar. In addition, the account can also be managed in many other currencies. On the other hand, there is not much choice in the area of trading platforms, where FXGiants relies on the qualities of MetaTrader. In addition, the Personal Multi-Account Manager (PMAM) is also available for trading.
But much more important is the question of whether trading can be executed in a liquid and cost-effective manner. According to our experience at FXGiants, this is guaranteed in any case. Due to the wide range of accounts available, traders can also choose specific fee models that best suit their trading style. FXGiants also offers a wide range of trading services to its clients. First, support is available around the clock. And since trading Forex products and CFDs is a segment in which individual strategy and knowledge of the market and trading techniques can make the difference between success and failure, it is a clear advantage that there are also numerous offers for market information and personal training. All in all, we have gained a very positive impression of the broker, so that the chances here are good that traders with the most diverse requirements will find in FXGiants a convincing partner for trading.
To sum up:
- Well structured and designed website
- Five different account types are available
- Minimum deposit is $100
- Wide range of trading services are offered
- Market and training techniques are displayed on the website
FXGiants in check: Fraud or serious?
The performance characteristics are convincing, but the question remains for a long-term successful trade, whether the online broker can be sufficiently serious. Especially with this aspect, many traders find it difficult to form a reliable judgment. Because it is not possible to look behind the scenes of an online broker. Therefore, a judgment about trustworthiness can only be made on the basis of two decisive factors. Firstly, these are the experiences that other traders have had with a particular provider.
On the other hand, of course, external control is also an important factor that traders can use as a guide. On the first point, it can be stated that we have had a good experience in our test with regard to the seriousness and that there is no information from other traders that would cast doubt on this view. However, the fact that this is a regulated provider is also reassuring for the traders. Against this background, it can be assumed that legal requirements for the protection of customer rights will be observed. All in all, we have come to the conclusion that FXGiants is a reputable provider that traders can trust completely. There is no need to fear fraud or rip-offs.
Security through FCA regulation
An important aspect of the complete evaluation of an online broker is the question of regulation. Only with regulated providers can a high level of security be assumed. In the case of FXGiants, this requirement is fulfilled in any case. The company has its headquarters in London, where regulation at the EU level is currently still mandatory. And it is not expected that the standards will be significantly lowered in the coming years. Traders can therefore rely on sufficient security, especially with regard to their invested capital. Even if the online broker should become insolvent, it is not to be expected that the deposits on the trading account will be lost, as the online broker is obliged to deposit the money in a separate account at a bank.
The offer for traders
Up to this point, it can be said that FXGiants has made a positive overall impression and can also be considered trustworthy. Now we would like to take a closer look at the offer and conditions in detail. As already mentioned, a very wide selection can be drawn upon. This applies on the one hand to the account types that can be used for trading, and on the other hand to the underlying assets, which comprise a total of 200 individual securities from various categories. We would now like to discuss both aspects in detail.
Five account types for the perfect cost model
Anyone wishing to take advantage of the trading offer of underlying instruments must first decide on a specific account type. In principle, there are five different account types to choose from, although it is not entirely clear what additional benefits the higher account versions actually offer. However, it appears that FXGiants has decided to adopt a policy where all users can benefit from the same support and assistance. The differences between the various account models are therefore only to be found in the conditions. For beginners, the micro account is interesting at first, where only a deposit of 100 Dollars required to start trading with real money. The entire range of underlying can be accessed and the spectrum of levers that can be used ranges from 1:1 to 1:500, as with the other account types. However, it is possible to trade with significantly smaller amounts, with this account model lot sizes of 0.01 are already available.
Another option available in relation to this account is the model for calculating the spread. Besides the “Live Fix Model”, the “Live Floating Model” is also available. The trader can therefore decide whether to trade on the basis of predefined spreads or freely formed spreads on the market. In principle, the same conditions apply to the account named Premium. However, lot sizes of 0.1 are traded here and the average spreads are somewhat lower overall. While an average of 1.1 points can be expected for the Micro Account in dollar/euro trading, this figure is 0.7 for the Premium Account when trading with “floating spreads”.
However, and this is the second main difference between these two account types, the minimum deposit for the Premium Account is significantly higher at 2,500 Dollars. There are also three other account types, with specific cost and fee models. These include the “0 Fixed Spread Account”, where trading is based on commissions, and the “STP/ECN Account”, where trading can take place directly at market conditions. The fifth version is the “SPT/ECN 0 Spread”, which trades on market-based commissions. A minimum deposit of 500 Dollars applies to all three account formats mentioned. The minimum lot size is 0.01. For both STP/ ETC accounts, there is no personal account manager who can be contacted directly. Every trader has to find out for himself which of the mentioned account models is the cheapest in terms of costs. In principle, it is possible to switch to another account model at any time. In addition, you can first test what works best with the demo account.
To sum up:
- Minimum deposit for the micro account: $100
- Minimum deposit for the premium account is $2500
- Minimum deposit for other accounts is $500
A total of around 200 underlyings to choose from
Now let us take a look at the underlying that are available for trading. The offering is divided into the categories equities, equity indices, commodities, and metals. In addition, a selection of further underlying can be accessed in a separate area with futures contracts. But first to the classic CFD or Forex trading.
The selection of currency pairs is very broad at first. In total, traders at FXGiants can choose from more than 80 currency pairs. This number alone makes it clear that the offer should leave nothing to be desired. As with virtually every online broker in this area, the most important currencies, the so-called majors, are available for trading in all conceivable combinations. In addition, however, any number of other important but also less important currencies can be traded. These include the Swiss Franc, the Dollar currencies of New Zealand, Singapore, and Canada, as well as the Scandinavian currencies of Sweden, Denmark, and Norway. But even this is far from exhaustive. It is also possible to trade on the basis of the Turkish Lira, the Mexican Peso or the South African Rand. All in all, the range of currency pairs on offer is therefore something for experts who are confident that they can rely on the development of less well-known national currencies.
Trading in the precious metals gold, silver and palladium is also available. Traders can choose whether they want to trade in dollars or euros based on the value development. In the commodities sector,
FXGiants also offers the products oil and gas. In addition, there is a broad selection of indices with which the economic development of individual regions and markets can be bet on.
In addition to internationally important stocks such as Dow Jones, Dax or Nikkei, the indices of Switzerland, Spain or the Netherlands are also available.
While the European markets dominate the indices, we have identified a focus on American stocks in the equities section. According to our experience, the stocks include the stocks of the Dow Jones, which gives a good selection of different sectors. The range in this category is supplemented by some British stocks, such as Vodafone or HSBC.
A fifth category, which is only available from a few online brokers, is futures contracts. Here, futures can be used to bet on the performance of other indices and agricultural products. In summary, FXGiants offers a fairly broad selection of underlying at generally favorable conditions, with various attractive fee models.
Up to 100 percent bonus possible
FXGiants clients can also expect an interesting bonus. Various models are available for selection. First of all, there is a 100 percent Bonus Maximiser, which is also available to new customers, but not only to them. In principle, every deposit can benefit from this offer. In this case, 100 percent bonus capital is added to the amount deposited. There are also no restrictions with regard to the selected account model.
Now a 100 percent bonus sounds very interesting. However, traders should always bear in mind that this is not capital that can be paid out at will. Payouts, which of course are still possible, immediately result in a reduction of the bonus. If profits are made in trading, in principle only half of the credit balance is available for payout. The bonus is therefore a kind of additional leverage. Furthermore, a so-called “No Deposit Bonus” can also be used. This makes it possible to start trading with a bonus capital of 35 Dollars, although special conditions apply to leverage and margin. In principle, however, profits achieved with this capital can be paid out.
|Deposit bonus:||up to 100 percent (Bonus Maximizer)|
|Bonus conditions:||corresponding sales must be achieved for payment|
|Other bonuses:||No deposit bonus|
Deposits and withdrawals by bank transfer, credit card or e-wallet
If you do not enter into trading with the “No Deposit Bonus” or if this bonus is used up, funds must be deposited into the trading account if you wish to continue trading. There is a wide range of options available for this purpose. It can be deposited first by classic bank transfer. There is also the possibility of transferring money to the trading account by credit card and last but not least, various e-wallets, i.e. online service providers can be used for this purpose. In principle, deposits can be made free of charge. On the other hand, fees are charged by various providers when withdrawing funds. When paying out by credit card, approximately two euros are charged per transaction.
Good marks for customer service
When it comes to customer service, FXGiants customers can be assured of a very high level of service. A personal account manager is available who can be called or contacted directly via live chat. English language skills are a central prerequisite for making full use of the possibilities. This also applies to e-mail, which is also available as a contact option.
|Telephone:||+44(0) 207 523 5394|
Website appears very user-friendly
While support is available in English only, or in a few additional languages, FXGiants’ clients can rely on a well-structured website. This is where clients can find information about the trading offer, terms, and conditions, as well as trading related questions. A very decent training program can also be used in this context. However, the live courses on currency trading, the economic calendar, and the encyclopedia are all available in English.
Mobile app enables trading with the smartphone
For trading itself, the MetaTrader 4 platform can be used, which is available for free download. In addition to trading on your own computer, a mobile version can also be accessed. The app is available for free download for both iOS and Android and gives the trader additional scope for trading. Our experience has shown that many instruments can also be used on the move so that restrictions in mobile trading can hardly be expected.
Conclusion of the FXGiants review:
With FXGiants we have tested an online broker that has a lot to offer. First of all, we were convinced by the quite broad and well-structured trading offer. In addition, the breadth of available accounts can also be evaluated positively. The services of FXGiants can be used from a minimum deposit of 100 Dollars, which makes it especially easy for beginners. Also with the Mirco account, which is available in this case, the comprehensive support can be used, which is available around the clock.
However, English language skills are of elementary importance here, just as with the use of video offers and the lexicon. We see this as a small minus point compared to other brokers. Concerning seriousness, we have got to know a provider that ranks on a very high level. Another positive aspect in this context is that regulation by the British supervisory authority is in place. Against this background, traders do not need to worry about the risk of fraud or rip-offs.
Most asked questions:
Is there a demo account?
Even though FXGiants offers its traders great assistance and gives them trading material on the hand, it does offer a demo account for non-risk trading with more than $ 10,000 virtual money.
Is a withdrawal of the bonus possibly?
Withdrawal of the bonus is not possible. Although it is credited in the own trading account, it will automatically be removed when withdrawing money. However, the bonus can be used for trading.
What are the trading hours?
There are great news for every trader! Trading with FXGiants is possible 24 hours, seven days a week. Trading around the clock is assured this way.
Is FXGiants regulated?
FXGiants is a regulated and trustworthy broker that is regulated and controlled by the British FCA due to the fact that FXGiants has its headquarters in the UK.