You probably have come across such great brands like Plus500, Easy-Forex and so on. Unlike FXGiants scam, they provide top-notch trading platforms, best spreads and allow exploiting various trading strategies. Read our full FXGiants review and find out the truth!
FXGiants Scam Review
However, you do not have to take only our word for it. That is why we encourage you to see our brief summary of FXGiants features:
- High initial deposit requirement
- Very similar live trading account types
- High costs of trading
- Only MetaTrader 4 is available
- The broker charges for withdrawals
- Short info about the company
Let’s begin now our FXGiants review.
Opening an account
FXGiants enables you to open the live account in three steps: Account creation, Personal Info and Confirmation. Then, the broker forces you to pick one of their real trading accounts: Micro, Premium, 0 Fixed Spread, STP/ECN No commission, STP/ECN 0 Spread. A demo account can be opened. FXGiants broker offers only MetaTrader 4 as its main software solution. You can select trade by installing MT4 on your PC, launch it using the browser or trade on mobile apps.
The broker offers 9 base currencies for all account types, except for 0 Fixed spread account – only USD, EUR and JPY. The minimum deposit requirement is $500 and that is for the smallest trading account. To open Premium, you have to invest at least $2500. For Premium clients, FXGiants fraud only reduces the spreads and increases minimum lot size – that’s it. Maximum leverage available is 1:500.
Other account types do not present something unique, they only change the way the broker is compensated. Let’s see what spreads are offered further in this FXGiants review.
Spreads & Commissions
Generally, the broker allows selecting either fixed or floating spreads. The fixed spreads are relatively wide on Micro and Premium account, 2.2 pips on EUR/USD and 1.2 pips on EUR/USD accordingly. Variable spreads are tighter, but can change whenever FXGiants scam deems necessary.
There is also 0 Fixed Spread account or STP/ECN 0 Spread, where the broker instead of the spread charges 18$ commission per 1 standard lot. On STP/ECN No commission, the fixed spread on EUR/USD is 1.7. Just by doing math a bit, you will not see almost any difference between these “special” accounts.
FXGiants Bonus Scam
FXGiants offers temporary promotions to its clients. You can see some of them in the image below:
FXGiants Reviews: Funds Withdrawal
In order to fund your account or withdraw money, you can use credit/debit cards (Visa, MasterCard), bank wire transfers, Skrill, Neteller, China Union, DotPay and PayPal. It was unpleasant to find out that the broker charges withdrawal fees and limits transaction amounts.
About the Company
We should also inform that FXGiants is regulated by FCA. Additionally, some news sources reported about close ties of FXGiants and IronFX. Is FXGiants and IronFX the same? Yes, IronFX brokerage has bought FXGiants company earlier this year.