FXGT is a reputable broker in forex and CFD trading due to its strict compliance with the standards of regulatory authorities and its robust measures for maintaining client fund security.
Demonstrating a commitment to offering a secure trading environment, FXGT is a reliable forex broker with a platform that inspires confidence in clients to trade.
While the Financial Services Authority (FSA) oversees FXGT’s platform, some allegations arose regarding the forex broker’s CFD trading.
This TRU insight aims to offer genuine trading insight on the pros and cons of FXGT. Read more so you can gauge whether the risks linked to the forex broker are worth the investment.
FXGT.com in a Nutshell
FXGT is an online trading platform offering top-tier brokerage services as a cryptocurrency and forex broker. Established in 2019, FXGT aims to provide users with a seamless trading experience with its competitive spreads, state-of-the-art technology, and fast trading execution times.
As a versatile forex broker, FXGT offers trading across various asset classes. Among these classes are forex, stocks, indices, cryptocurrencies, and metals.
FXGT also developed synthetic crypto pairs that mix traditional markets with cryptocurrencies. It offers different account types for different purposes. Examples of these accounts are:
- Mini Account: for beginners
- Standard+ Account: for balancing spreads and instruments
- Pro Account: for professionals with customization and lower spreads
- ECN Account: for direct market access with spreads starting from 0 pips
FXGT offers users the ability to open accounts in multiple currencies, including major crypto assets. It also provides leverage up to 1:5000.
With FXGT.com, you can have access to powerful trading tools, which they compile in a suite called “Advanced MT5 Toolkit.” Among these tools are utility add-ons, execution tools, and indicators for advanced analysis.
Regulation & Compliance
FXGT is a regulated CFD and forex broker with a wide selection of trading instruments and loyal deposit requirements, coupled with bonus and partnership programs.
To ensure traders and other clients achieve maximum user safety, FXGT complies with the standards set by its registered jurisdiction and the regulatory authorities who oversee its operations.
With the following regulations, FXGT proves its ability to maintain market integrity and promote customer satisfaction.
| Regulator | Registered Name | License Number |
|---|---|---|
| Financial Services Authority (FSA) of Sychelles | GT Global Ltd. | SD019 |
| Financial Sector Conduct Authority (FSCA) of South Africa | GT IO Markets (Pty) Ltd | FSP 48896 |
| Vanuatu Financial Service Commission (VFSC) | GT Global Markets Ltd | 7000601 |
| Cyprus Securities and Exchange Commission (CySEC) | TEC International Ltd & GT Payment Agent Ltd | 382/20 |
To further boost its reputation as a credible online forex broker, FXGT.com implemented various features to strengthen its clients’ fund safety. Among these measures include:
Segregated Accounts
FXGT maintains segregated accounts for deposits made by clients at highly reputable banking institutions. Through this separation, FXGT ensures that client funds remain intact in the event of unforeseen financial difficulties.
Stringent Accounts
FXGT.com employs Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to prevent illegal activities and financial crimes on its platform.
With these policies in place, FXGT requires clients to submit identification documents upon account opening to verify their identity. This verification process ensures a secure and transparent trading environment.
Order Execution Policy
FXGT.com commits to providing a fair trading experience to its clients. So, they adopted a comprehensive order execution policy that ensures clients execute every order at the best possible prices without any slippage or undue delays.
This commitment to fairness and transparency in their trading practices solidifies FXGT’s position as a trustworthy online forex broker.
Related: TradersUnited – Common Forex Orders: Execute Trades Like a Pro
FXGT Fees, Commissions, and Platform Overview
| Fees | Yes. Swap/Rollover fees are applicable depending on the traded asset, general interest rates, and whether a position is long or short. Low forex trading fee No inactivity fee No deposit fee No withdrawal fee |
| Minimum Deposit | $5 |
| Trading Platforms | Webtrader MetaTrader 4 (MT4) MetaTrader 5 (MT5) platform on Desktop Mobile (iOS and Android) |
| Order Execution | Market execution |
| Accounts | Demo, Mini, Standard+, Pro, and ECN |
| Account Currencies | EUR, USD, BTC, ETH, USDT, ADA, and XRP |
| Instruments | Forex, cryptocurrency pairs, indices, synthetic cryptocurrency pairs, energies, metals, stocks, the GTi12 Index, DeFi tokens, and NFTs |
| Commission Per Trade | Commissions are only available on the ECN Account: Up to $6 round-turn on all FX Asset Classes Up to $5 round-turn for precious metals 0.1% round-turn on all Crypto Asset Classes |
| Payment Accepted | Credit/Debit Card, Sitpay, Bitwallet, Bank Wire Transfer |
| Demo Account | Yes |
| Copy Trading Support | No |
Allegations Against FXGT
In a report posted on February 03, 2025, a Washington resident filed a complaint against FXGT to the Washington State Department of Financial Institutions (DFI) regarding a common cryptocurrency investment scheme.
The investor was introduced to FXGT and solicited by “successful traders” Wan Ru Lin (also known as “Lin”) and Xu Xiaohu (also known as “Xiaohu”). They communicated via WhatsApp, with the said solicitors calling from the phone number 628-358-8821.
The unnamed investor wired over $365,000 to Zap Solutions, which was later converted into cryptocurrency on Strike.
However, when the investor attempted to withdraw the $1.5 million funds from their account, FXGT was said to demand that the investor pay a percentage for taxes. After the investor paid $295,000 in taxes, FXGT initiated an investigation and demanded that the investor pay $227,000.
FXGT allegedly threatened to freeze the investor’s account permanently if the investor did not pay the amount. It also threatened to send the investor’s funds to the National Financial Authority.
While DFI has not verified these allegations, the authority urges users to exercise caution before receiving any solicitation offering investment services.
Read the full report here:
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FAQs
Are there any country restrictions for FXGT?
FXGT.com does not offer services to residents of specific jurisdictions. These countries include:
- The United States of America
- North Korea
- Canada
- Iran
- European Union countries
- Belize
This restriction complies with regional regulations governing financial service providers.
Does FXGT Offer Promotions?
FXGT aims to welcome new clients and reward existing ones with their exclusive promotions. They offer a wide selection of bonuses, which may change based on their Terms & Conditions. Some of these offers include:
- Welcome
- Loyalty
- No Deposit bonuses
- VPS Sponsorships
Are there any deposit or withdrawal limitations that I should be aware of?
FXGT offers its clients the opportunity to trade at their own pace and on their own terms. With that in mind, they provide a wide range of withdrawal and deposit options, including debit/credit cards, Crypto wallets, and bank wire transfers.
Withdrawal processing time ranges from immediate to up to seven business days. The time required for the fund transfer depends on the payment method used. Processing time may also take longer if FXGT requires more information from the client.
Simplify Complex CFD Trading With CommuniTrade
CFDs are complex assets and come with an inevitable high risk of losing money due to leverage.
While a high percentage of retail investor accounts lose money when they trade CFDs, you can protect yourself and your earnings with our expert trading community at CommuniTrade.
Our community members get the most out of CFD trading by learning from experts in the field. With the help of our community, you can leverage your knowledge of CFDs and other assets and gauge the risks smarter to avoid the high risk of money loss when trading with brokers like FXGT.
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