FXGT.com Editor’s Verdict
FXGT.com is carving out a market position as a hybrid Forex and cryptocurrency broker. 1. It provides traders with access to the MT4 and MT5 trading platforms on a live account for a minimum deposit of only $5. I reviewed FXGT.com to determine if it delivers on its statement of paving the way for a new generation of traders, innovative instruments, and trading models.
Overview
One of the First Hybrid Forex and Cryptocurrency Broker
FXGT.com is carving out a market position as a hybrid Forex and cryptocurrency broker. It provides traders with access to the MT4 and MT5 trading platforms on a live account for a minimum deposit of only $5. I reviewed FXGT.com to determine if it delivers on its statement of paving the way for a new generation of traders, innovative instruments, and trading models.
FXGT.com Overview – One of The First Hybrid Forex and Cryptocurrency Broker
Headquarters | South Africa |
|---|---|
Regulators | CySEC, FSA, FSCA |
Tier 1 Regulator(s)? | |
Owned by Public Company? | |
Year Established | 2019 |
Execution Type(s) | ECN/STP, Market Maker |
Minimum Deposit | $5 |
Trading Platform(s) | MetaTrader 4, MetaTrader 5 |
Average Trading Cost EUR/USD | 0.1 pips ($1.00) |
Average Trading Cost GBP/USD | 0.1 pips ($1.00) |
Average Trading Cost WTI Crude Oil | $0.03 |
Average Trading Cost Gold | $0.15 |
Average Trading Cost Bitcoin | $91.41 |
Retail Loss Rate | Undisclosed |
Minimum Raw Spreads | 0.0 pips |
Minimum Standard Spreads | 0.5 pips |
Minimum Commission for Forex | $6.00 per 1.0 round lot |
Funding Methods | 12 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
I like that FXGT.com embraces cryptocurrencies and the more traditional Forex and attempts to create a new hybrid broker. There are exciting trading opportunities in cryptocurrencies, and it is a shame that many Forex traders struggle to access those opportunities. The $5 minimum deposit ensures FXGT.com remains accessible to all traders, another fact I appreciate. Traders also get an edge with a very high maximum leverage of 1:1000 and several bonuses, dependent on the FXGT.com subsidiary, which can boost beginner traders if they understand applicable terms and conditions and use them properly.
Regulation and Security
Trading with a well-regulated broker will strongly limit the potential for fraud and malpractice. I always recommend traders ensure they choose a regulated and verify the regulatory details by checking the quoted regulatory license within the regulator’s database. FXGT.com offers retail clients the ability to trade under one of three regulated subsidiaries that maintain competitive trading environments, and institutional clients only the ability to trade under a CySEC license:
Country of the Regulator | Cyprus, Seychelles, Vanuatu, South Africa |
|---|---|
Name of the Regulator | CySEC, FSA, FSCA |
Regulatory License Number | 48896, SD019, 700601, 382/20 |
Regulatory Tier | 2, 4, 4, 1 |
The FSCA and the FSA have emerged as two of the best Forex regulators, with more Forex brokers seeking licenses in these jurisdictions. FXGT.com links to the regulators’ websites. FXGT.com deploys advanced encryption technology, secure servers, and strong firewalls to ensure maximum data security.
Client deposits remain segregated from corporate funds held at Tier1 banks. Unfortunately, FXGT.com does not list which ones, which would have been a nice detail to see. All traders get negative balance protection, a definitive security measure given the maximum leverage of 1:1000 (1:500 for South African traders). The capital adequacy ratio of 40%, three times the regulatory recommended level, and the additional security layer through the €1,000,000 indemnity insurance policy offered, make FXGT.com a financially stable and secure Forex broker.
I applaud FXGT.com for taking additional security measures beyond regulatory requirements. FXGT.com has a clean track record, but of course as this broker is relatively new – only having been founded in 2020 - it does not have a long track record yet. Given the level of security overall though, I am confident about the trustworthiness of FXGT.com.
FXGT.com remains one of the most secure brokers with licenses from two of the most trusted regulators.
Fees
I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. FXGT.com offers multiple account types with the same minimum deposit of $5 but notable differences in the cost structure. The PRO account offers swap-free trading across all instruments (for the first six days), with minimum spreads from 0.5 pips or $5 round turn lot. The ECN account features raw spreads on all available asset classes, with commissions of up to $6 per round turn on all FX asset classes and up to $5 for precious metals. Cryptocurrency traders pay a 0.10% commission on all crypto assets.
Average Trading Cost EUR/USD | 0.1 pips ($1.00) |
|---|---|
Average Trading Cost GBP/USD | 0.1 pips ($1.00) |
Average Trading Cost WTI Crude Oil | $0.03 |
Average Trading Cost Gold | $0.15 |
Average Trading Cost Bitcoin | $91.41 |
Minimum Raw Spreads | 0.0 pips |
Minimum Standard Spreads | 0.5 pips |
Minimum Commission for Forex | $6.00 per 1.0 round lot |
Deposit Fee | |
Withdrawal Fee |
Deposit Fee | Third-Party |
|---|---|
Withdrawal Fee | Third-Party |
Inactivity Fee | $20 one-time after 90 days, $10 monthly |
Commissions / Spreads | $6.00 per 1.0 round lot |
Withdrawal Options | Bank wires, credit/debit cards, e-wallets, cryptocurrencies |
Deposit Options | Bank wires, credit/debit cards, e-wallets, cryptocurrencies |
The minimum trading costs for the EUR/USD at FXGT.com ECN account are:
Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
|---|---|---|
1.0 pips (Mini + Standard) | $0.00 | $10.00 |
0.5 pips (Pro) | $0.00 | $5.00 |
0.0 pips (ECN) | $6.00 | $6.00 |
Here is a screenshot of the FXGT.com MT5 trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.
MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights in the commission-free Pro trading account.
Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for one night will cost the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total TradingCosts |
|---|---|---|---|---|
0.5 pips | $0.00 | $5.65 | X | $10.650 |
0.5 pips | $0.00 | X | $1.25 | $6.25 |
Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for seven nights will cost the following:
Minimum Spread | Commission per Round Lot | Swap Long | Swap Short | Total TradingCosts |
|---|---|---|---|---|
0.5 pips | $0.00 | $39.550 | X | $44.550 |
0.5 pips | $0.00 | X | $8.75 | $13.75 |
What Can I Trade
Traders can trade 500+ instruments across multiple asset classes, including Forex, cryptocurrencies, DeFi Tokens, NFTs, stocks, equity indices, metals, and energies. The cryptocurrency selection remains above average compared to moat brokers. I like the offered synthetic cryptocurrencies as they can give additional trading opportunities many other brokers do not provide, for example, the GTi12 Index, encompassing the 12 most popular cryptocurrencies. The rest of the asset selection, especially commodities, remains below average in terms of diversity. However, most traders will find the range of assets available wide enough for their trading needs.
Leverage
FXGT.com provides dynamic leverage across all account types with a maximum of 1:1000 (1:500 for South African traders). Together with negative balance protection, it represents an excellent offer. The six-tier system increases the margin, protecting traders in leveraged accounts. I find this approach the proper way to ensure competitiveness and security from misuse.
The dynamic leverage at FXGT.com is an excellent example of competitiveness and security.
Trading Hours
Forex and commodity trading is available 24/5 (from Monday morning in New Zealand until Friday evening on the eastern seaboard of the U.S.), cryptocurrency trading 24/7. Equity and index CFDs’ opening hours depend upon the market covered and have set opening and closing times between Monday and Friday. Generally, they will be offline between the New York close and the Tokyo open.
Asset Class | From | To |
|---|---|---|
Commodities | Monday 00:05 | Saturday 22:55 |
Crude Oil | Monday 00:05 | Saturday 22:55 |
Gold | Monday 00:05 | Saturday 22:55 |
Metals | Monday 00:05 | Saturday 22:55 |
Equity Indices | Monday 00:05 | Saturday 22:55 |
Stocks | Monday 15:30 | Friday 22:00 |
Synthetics | Monday 00:00 | Sunday 24:00 |
Account Types
FXGT.com offers several account types, catering to various trading requirements. The Micro account is ideal for beginners learning to trade or seasoned traders who want to test new strategies or tweak existing ones. The Standard+ account caters to hobby traders, and both may qualify for bonuses and promotions. The commission-free cost structure begins from 1.0 pips or $10.00 per 1.0 standard round lot.
The FXGT.com Pro and ECN accounts are for serious traders, the former a competitively priced commission-free account with minimum trading fees of $5.00 per lot, and the latter a commission-based alternative starting from $6.00 per lot. I prefer the Pro account over the ECN due to lower fees and swap-free trading for the first six days. Traders from Japan also get a dedicated cryptocurrency account, Crypto Max.
The minimum deposit is $5 for all account types, and an individual client may open eight different accounts. Account base currencies are BTC, ETH, USDT, ADA, XRP, USD, EUR, and JPY. The minimum and maximum trade sizes are 0.01 and 200.0 lots, respectively. A demo account exists, and a swap-free Islamic option is available per request.
Trading Platforms
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
DOM? | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
One-Click Trading | |
OCO Orders | |
Interest on Margin |
FXGT.com offers traders the out-of-the-box MT4 and MT5 trading platforms and upgrades it with exclusive tools to help automate core elements of the trading process. This covers trade management execution, price and data analysis, and data collection & display. MT5 is the successor to MT4 but lacks backward compatibility with MT4. Both trading platforms support algorithmic trading and have an embedded copy trading service. Traders can use powerful desktop clients, lightweight web-based alternatives, and highly rated mobile apps.
Unique Features
The most unique feature at FXGT.com is that the commission-free Pro account has a competitive cost structure for a minimum deposit of only $5, making it accessible to all traders. I also want to highlight the insurance policy and the dynamic leverage, which add to a more secure and competitive trading environment.
FXGT.com offers swap-free trading (no overnight fees) on Cryptos, Gold, and Equity Indices in all account types for an initial period of six trading days. It also provides free VPS hosting for all traders with a minimum account balance of $3,000 or a currency equivalent and monthly trading volumes of 5 GT Lots, where 1GTLot equals $100,000.
Research and Education
FXGT.com provides a sentiment analysis under “Trader Insights,” covering Market Sentiment, Open Interest by Client, Open Position Ratio, and Open Interest by Value. Traders also get a “Technical Analysis” section featuring a Daily and Hourly chart, an economic calendar with events relevant to the quote and base currency, daily and intra-day pivot points, and a volatility forecaster. FXGT.com also explains how traders can obtain MT5 trading signals from the embedded services available in MT5. I find the research approach of FXGT.com rudimentary but sufficient for beginner traders seeking research and trading ideas.
The South African FSCA proposes educating new traders as a priority, and FXGT.com could fulfill this role by offering a high-quality and in-depth trading academy. FXGT.com is a relatively new broker and only offers five eBooks as educational content, but there is plenty of free research and education online. Therefore, I do not view the absence as a deal-breaker, but I look forward to what FXGT.com will hopefully add here.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |        |
FXGT.com offers 24/7 multilingual customer support via e-mail, web form, or live chat. Live chat is available in Arabic, English, and Spanish. A direct phone number is not listed, making live chat the best contact method. Traders can access it from each page.
FXGT.com offers 24/7 customer support but does not list a phone number.
Bonuses and Promotions
FXGT.com offers several bonuses and promotions, which can change monthly and vary across geographical jurisdictions. During my review, they included a no-deposit bonus, a welcome bonus, a loyalty bonus, a tiered loyalty bonus, a loyalty reset bonus, a cashback promo, and a VPS sponsorship program. The FXGT.com subsidiary will list all available bonuses for clients. Terms and conditions apply to all bonuses and incentives, and I recommend traders read and understand them before making requests.
Opening an Account
I found it extremely easy to open an account with FXGT.com , which was refreshing. It took me less than 30 seconds to complete the online account opening form, and FXGT.com does not ask unnecessary questions. Upon completion, I received a confirmation e-mail and had access to my back office in literally less than one minute after I started the application. FXGT.com only asks new traders to verify their identity, which can be done by sending through a copy of their ID and one proof of residency document. I also appreciate the ease of opening accounts in the back office, demo, or live. It is a swift three-step system. Overall FXGT.com maintains an excellent, unintrusive onboarding and account management process.
Minimum Deposit
The minimum deposit for all FXGT.com accounts is just $5, making it one of the most accessible brokers.
Payment Methods
FXGT.com supports bank wires, credit/debit cards, Skrill, Neteller, SticPay, Perfect Money, FasaPay, LuqaPay, Pay Retailers, Transact 365, and cryptocurrencies.
Withdrawal options |      |
|---|---|
Deposit options | |
Accepted Countries
FXGT.com caters to most international clients but does not accept traders resident in the US, EU, or the UK.
Deposits and Withdrawals
The secure FXGT.com back office handles all financial transactions for verified clients.
FXGT.com ensures that verified clients get fast and fee-free deposits and withdrawals and supports twelve payment processors, including BTC, ETH, XRP, ADA, USDT(ERC20), USDT(TRC20), BitWallet, and Binance Pay for cryptocurrency transactions. It does not charge internal fees, but third-party payment processor costs apply with all options. The minimum deposit amount starts from $5 across all account types.
The minimum withdrawal amount depends on the payment processor and is between $5 and $50. Processing times range from instant to within 72 hours. Traders may wait up to ten business days to receive their funds, dependent on their geographic location, if they use bank-related payment processors, while e-wallets and cryptocurrencies present fast processing times.
Bottom Line
I like the FXGT.com trading experience because it offers a hassle-free system for opening and managing accounts. The dynamic leverage, negative balance protection, and secure trading environment make FXGT an excellent choice for cryptocurrency traders. Traders who wish to have their base account currency in cryptocurrencies will also like FXGT’s offering here. The minimum deposit of $5 ensures accessibility and 24/7 multi-lingual customer support assists beginners. The swap-free trading on all assets is also a significant plus for traders, who benefit from competitive leverage, quality trading tools, and an excellent choice of cryptocurrency assets, including synthetics and the GTi12 Index, encompassing twelve cryptocurrencies.
FAQs
Is FXGT.com legit?
FXGT.com is a new but legit broker, operating under the oversight of two regulators with a clean track record and one of the most secure trading environments.
What is the minimum deposit at FXGT.com?
The minimum deposit at FXGT.com is $5.
Is FXGT.com regulated?
The South African FSCA and the Seychelles FSA, two of the best global Forex regulators, regulate FXGT.com. FXGT.com is also regulated to accept institutional traders under CySEC.
What trading platforms does FXGT.com offer?
FXGT.com offers the core MT5 trading platform.