FXGT Fees Explained - Updated

FXGT.com’s fees consist of trading and non-trading fees. Our FXGT.com fees review covers all associated costs, helping traders to understand how and when they will be charged and allowing like-for-like comparison to other brokers.

Overview of FXGT.com Fees and Charges

FXGT.com offers both commission-free and commission-based trading accounts with minimum trading fees starting from $5.00 per 1.0 standard round lot for the commission-free FXGT.com account and $6.00 for the commission-based alternative. It makes FXGT.com a rare broker offering lower commission-free trading fees than commission-based alternatives.

Here is a snapshot of FXGT.com’s fees:

FXGT.com Fees, Spreads, and Commission Explained

Trading fees at all brokers consist of trading fees applied to any trade executed and less frequent non-trading related fees. Understanding the FXGT.com fees will help traders compare overall costs.

FXGT trading fees are:

• Spreads (the difference between the bid and the ask price, where FXGT.com has minimum spreads on FX pairs from 0.0 pips in the commission-based account to 0.5 pips in the commission-free account)
• Commissions (FXGT.com charges $6.00 per 1.0 standard round)
• Swap rate markup (charged on leveraged overnight positions)
• Currency conversion fees on realized profit and losses (undisclosed at FXGT.com)

FXGT.com non-trading fees are:

• Deposit fees (not applicable at FXGT.com)
• Withdrawal fees (not applicable at FXGT.com)
• Inactivity fees (FXGT.com charges $20 one-time after 90 days of inactivity on the account and $10 monthly thereafter)
• Currency conversion fees (undisclosed at FXGT.com)

FXGT.com Trading Fees

FXGT.com’s trading fees are asset-dependent and apply to each transaction.

Here is an overview of minimum FXGT.com trading fees:

Overnight Fees (Swap rates)

Swap rates are typically the most overlooked trading cost, overnight financing may become the most significant fee per trade, depending on the time horizon and instrument being traded. Swap rates apply on leveraged overnight positions, which may triple on Wednesday to account for trades not settling on non-working days at the weekend.

MT4/MT5 traders can easily access swap rates from their platform by following these steps:

1. Right-click the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.

FXGT.com Non-Trading Fees

Non-trading fees are notably less frequent, but traders should know about them to avoid confusion. Traders may incur these fees on deposits, withdrawals, and for account inactivity.

Currency Conversion Fees

Currency conversion fees are the least visible, and most traders are unaware of this hidden fee. It applies each time FXGT.com must exchange one currency for another, including trading for example when the closed profit or loss on a trade differs from the account base currency and must therefore be converted upon the trade settlement. Usually, brokers will add a conversion markup.

FXGT.com Deposit Fee

FXGT.com does not charge an internal deposit fee. A currency conversion fee may apply, which traders can eliminate with a multi-currency account.

FXGT.com Withdrawal Fee

There are no FXGT.com withdrawal fees, except on some bank wires, but traders must consider potential third-party payment processor fees and follow-on transaction costs.

FXGT.com Inactivity Fee

FXGT.com charges a $20 one-time inactivity fee after 90 days of dormancy and $10 monthly thereafter.

FXGT.com Safety and Security

FXGT.com has four global regulatory licenses, and a clean history, and the broker segregates client deposits from corporate funds which are held at tier-1 banks. The provider maintains a capital adequacy ratio of 40%, and a €1,000,000 liability insurance package. It also deploys advanced encryption technology to secure client data and transactions.

FXGT Fees Bottom Line

The FXGT.com fees are competitive in the commission-free Pro and the commission-based ECN accounts. Both have a $5 minimum deposit requirement.

Feel free to read our full broker review of FXGT.

FAQs

Is FXGT.com regulated?

FXGT.com operates under regulatory oversight by the FSCA in South Africa, the FSA in Seychelles, the VFSC in Vanuatu, and CySEC in Cyprus.

How does FXGT.com work?

Traders open an FXGT.com account, which allows them to trade financial markets available at FXGT.com. FXGT.com is the custodian of client funds, provides trading platforms, maintains the trading infrastructure, and enables clients to place trades.

What is the spread charge for FXGT.com?

The minimum spread at FXGT.com is 0.5 pips or $5 per 1.0 standard lot, but average spreads are higher.

Is FXGT.com a good broker?

FXGT.com is a competitive Forex and cryptocurrency hybrid broker. It fully supports algorithmic and copy trading via the MT4/MT5 platforms. The firm is well-regulated, offers a €1,000,000 liability insurance package, maintains an excellent capital adequacy ratio of 40%, has a balanced asset selection, and grants traders competitive trading fees.

How much does FXGT.com charge for withdrawals?

FXGT.com does not charge clients for withdrawals, but third-party processing costs or currency conversion fees may apply, which FXGT.com does not control.

By DailyForex.com Team

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.