FXGT.com Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXGT.com provides a modest forex and CFD trading experience with its limited range of tradeable symbols and Forex pairs. It offers multiple account types and plugins for MetaTrader (depending on the trading tool plan subscription plans you choose) but falls short compared to the best brokers for MT4 and MT5.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- MetaTrader Access: Offers both MetaTrader 4 and MetaTrader 5, popular for their robust tools and flexibility.
- Copy Trading: Allows for copy trading, which is beneficial for novice traders looking to mimic the strategies of experienced traders.
Cons
- Limited Education Resources: Does not offer advanced or beginner education videos, which could be a drawback for new traders seeking to learn.
- Limited Trading Signals: No trading signals offered, which can be a disadvantage for traders looking for market insights and opportunities.
- Few Tradeable Symbols: With only 117 tradeable symbols, its offering is less competitive compared to larger brokers.
Ratings Summary
- Investment Types - 6.0/10
- Commissions & Fees - 7.0/10
- Trading platforms - 7.0/10
- Research - 6.0/10
- Mobile Apps - 7.0/10
- Education - 5.5/10
- Overall - 6.6/10
Can I trust FXGT.com?
FXGT.com, while regulated by the FCA in the UK, holds a lower trust score indicating a higher risk factor. According to ForexBrokers.com, with a trust score of 69, it is considered "High Risk".
FXGT.com is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Regulated in the European Union via the MiFID passporting system
- Tier-2 Regulators - Financial Sector Conduct Authority (FSCA)
- Tier-3 Regulators - None
- Tier-4 Regulators - Financial Services Authority (FSA) and Vanuatu Financial Services Commission (VFSC)
Is FXGT.com good for beginners?
FXGT.com may not be the best choice for beginners, as it lacks educational resources such as advanced and beginner videos. This could limit the ability for new traders to learn through structured and guided learning pathways.
| Feature |
FXGT.com
|
|---|---|
| Education (Forex or CFDs) | No |
| Client Webinars | No |
| Videos - Beginner Trading Videos | No |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | Yes |
FXGT.com commissions and fees summary
While FXGT.com does not disclose the average spread cost for the EUR/USD pair, without active trader discounts and an average commission and fees score it is best described as a reasonable, though not standout, choice for cost-conscious traders.
| Feature |
FXGT.com
|
|---|---|
| Minimum Deposit | $5 |
| Average Spread EUR/USD - Mini | N/A |
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | No |
FXGT.com trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
FXGT.com offers MetaTrader 4 and MetaTrader 5, which are highly recommended for their reliability and range of tools. Despite this, the overall platform and tools offering at FXGT.com receives a middling recommendation, suitable for those satisfied with standard trading capabilities.
Trading platforms offered: FXGT.com supports MetaTrader 4 and MetaTrader 5, popular choices among traders.
Trading tools: The broker provides standard trading tools through these platforms.
Copy trading: Offers copy trading options, beneficial for less experienced traders looking to leverage the insights of seasoned traders.
| Feature |
FXGT.com
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
FXGT.com trading platform screenshots
Mobile trading apps at FXGT.com
The mobile trading experience at FXGT.com is adequate, supporting basic trading needs on the go with a satisfactory mobile app rating.
| Feature |
FXGT.com
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
FXGT.com mobile app screenshots
How do I open an account with FXGT.com?
- Visit the FXGT.com website.
- Complete the registration form with your personal details.
- Verify your identity and address by uploading the required documents.
- Fund your account using one of the accepted payment methods.
- Start trading once your account is activated.
What can I trade at FXGT.com?
FXGT.com offers a limited selection with 53 Forex pairs and 117 tradeable symbols, considerably below the industry average, making it less suitable for traders looking for a wide range of instruments.
| Feature |
FXGT.com
|
|---|---|
| Tradeable Symbols (Total) | 117 |
| Forex Pairs (Total) | 53 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
FXGT.com research screenshots
Account funding at FXGT.com
FXGT.com supports a variety of payment methods including bank wires, Neteller, and credit cards, providing flexibility in account funding. However, it does not support PayPal or Skrill eWallets, which could be a limitation for some users.
| Feature |
FXGT.com
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | No |
| Neteller (Deposit/Withdraw) | Yes |
About FXGT.com
FXGT.com was founded in 2019, positioning itself as a newer player in the forex and CFD trading industry. Despite its recent entry, it has managed to secure regulation by the UK's Financial Conduct Authority, enhancing its credibility. Nonetheless, the lack of a comprehensive educational offering and a more robust tradeable instruments list might make it less appealing to more seasoned traders or those looking to diversify extensively.
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Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
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Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.