FXGiants: Trade Like A Giant

July 23, 2020
Brokers
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FXGiants is a UK registered company offering over 200 negotiable instruments of 6 asset classes through CFDs on Forex, futures, metals, indices, commodities and stocks. FXGiants attracts clients from more than 150 countries worldwide and offers transparent and reliable services 24 hours a day, 5 days a week, where clients receive multilingual assistance. Also, the company is a member of the Financial Services Compensation Scheme (FSCS), for eligible clients with a maximum of 85,000 pounds per person regulated entity.

It is true that FXGiants is a broker that has good characteristics in several aspects. But, we strongly believe that Capital.com is the best online trading platform because is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with FXGiants and scored our findings on a 10-point scale across 10 distinct categories.
Fees 4
Signup Process 10
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 10
Customer Support 9
Asset Classes 6
Referral Program 0
Demo Account & Educational Resources 7
Safety & Regulation 10
Total 74

FXGiants Pros & Cons

Pros

  • There are no commissions for trading financial instruments.
  • Doesn’t charge any fees for deposits.
  • The account opening procedure is quick and easy.
  • You can deposit funds in several base currencies.

Cons

  • No educational material or research tools.
  • The supply of financial instruments is limited.
  • Only trades CFDs.
  • There is a commission for inactivity.
  • You must make a minimum deposit.
  • There are withdrawal fees.

FXGiants Account Types

FXGiants offers several types of accounts with which you can trade the same instruments. The main difference between each of them is the type of spreads they offer you:

  • Floating Spread: allows you to access a variable spread from 1 pip.
  • Fixed Spread: with this type of account you can have a fixed spread for each type of instrument from 1.2 pips.
  • Zero Fixed Spread: this account offers you zero spread but you must pay a $9 USD commission per lot traded.
Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 FXGiants Fees

At FXGiant you only need to pay trading fees on stocks and futures. The rest of the investment alternatives that FXGiants offers are free of trade commissions. But take into account that there are spreads depending on the type of account:

  • Floating Spread: From 1 pip.
  • Fixed Spread: They depend on the type of instruments and you will find spread from 1.2 pips.
  • Zero Fixed Spread: Offers zero spread but you must pay $9 USD per lot traded.

FXGiants does not charge any fees for deposits. Your respective banks or payment providers might charge you extra fees, though.

In the case of inactivity, including financing or trade, within one year, the company reserves the right to charge a fixed annual fee of $50 USD. In case the account balance is below $50 USD, the company will collect any remaining balance and archive the client’s account.

FXGiants is not well rated in terms of fees as you will have to pay commissions for trading some financial instruments such as stocks and futures, and because of the inactivity fee.

FXGiants Fees Score: 4/10

#2 FXGiants Signup Process

The account opening procedure is quick and easy and takes less than 5 minutes. You will only be asked to provide basic information about yourself (first name, last name, email, etc.).

Please note that to open an account at FXGiants you do not need to provide any documents. But, for deposits over  $10,000 USD and for your withdrawal procedure, you will need to send FXGiant a recent utility bill (water/electricity bill) or a recent bank statement dated within the past six months.

The registration process at FXGiants is highly qualified because you can open an account in just 5 minutes without complications.

FXGiants Signup Process Score: 10/10

#3 Minimum Initial Deposit

The minimum deposit to be able to trade FXGiants is $100 USD. FXGiants has a low minimum deposit compared to other brokers, as some require a starting balance of $2,000 USD or more to begin trading. This aspect is very favourable because you can start your broker career without waiting years until you have large sums of money.

FXGiants Minimum Initial Deposit Score: 10/10

#4 FXGiants Ease of Use

FXGiants offers you Metatrader 4 (MT4) as an investment platform, which has a friendly and intuitive interface despite its advanced features. Also, this platform is very useful and is the most used tool by traders in the world. You will be able to find a large number of chart options, indicators, and plotting tools.

You can also view several charts at the same time, you have customization options and you can even create environments for forex, technology CFDs, financial sector CFDs, among others.

These customization possibilities allow you to be much more efficient when analyzing and making the best investment decisions.

Analyze quotes of financial instruments using interactive charts and technical indicators

Furthermore, FXGiants also offers you the possibility of following your operations on the web through its Webtrader. This tool is based on a platform that does not need downloading and that will allow you to view your positions at any time without the need to download MT4 on other computers.

While it is true that you can follow your assets, keep in mind that the Webtrader platform is a much less powerful investment platform than MT4.

Notwithstanding, you must take into account that to master all the analysis resources that MT4 offers you, you must dedicate time and effort so that you can exploit to the maximum all the resources that this investment platform offers.

FXGiants: Mobile App

Using MT4 is not limited to your computer or the web; you can use MT4 on your cell phone too. The mobile application will allow you to use the same tools as the PC version but with a slightly simpler layout, considering that its optimized for mobile device screens. The app is very well rated in the Android store 4.6/5 and in the Apple app store 4.8/5.

You can trade Forex with MetaTrader 4 launched on a wide range of Android OS devices

Although FXGiants’s investment platform is very powerful and versatile, the broker loses points due to the time that you will have to invest to learn how to master and make the most of it.

FXGiants Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

FXGiants offers several options for depositing and withdrawing funds. You can deposit funds in any of the following base currencies:

  • JPY
  • EUR
  • USD
  • GBP
  • CHF
  • CNY

In the case that you deposit funds in a currency different than your base currency account, then it will be converted into the base currency of your trading account by them at the prevailing rate at the given time.

Please note that the waiting time to use your funds and the type of currency you can use will depend on the deposit or withdrawal method:

  • eWallets: There is no waiting time so you can see your balance immediately. You can use wallets like Skrill, Neteller with EUR, USD, and GBP.
  • Wire Transfer: Processing time is 2-5 business days and you can use EUR, USD, GBP, CZK, PLN, JPY, or CHF.
  • Visa or Mastercard: There is no waiting time so you can see your balance immediately. Also, with this method you can use JPY, EUR, USD, GBP or CHF.

It is important to note that you can withdraw your earnings only through bank transfer. You can receive your initial deposit through the payment method used initially and then all surplus funds (winnings) will be sent to your bank account. Also, for Visa and MasterCard credit/debit cards, up to 2 EUR is charged per withdrawal transaction with a transaction of the maximum amount of 50,000 EUR. For Skrill withdrawals, a 1% fee is charged on withdrawals that are capped at 10,000 EUR.

FXGiants Deposit & Withdrawal Options Score: 10/10

#6 Customer Support At FXGiants

The company offers you multilingual customer support 24 hours a day, five days a week. You will be able to communicate with the technical staff in:

English German Portuguese Hebrew
 Spanish French Romanian Arabic 
 Czech Italian SlovenianRussian
 Chinese Polish Hindi 

In addition, you can access technical support through the following alternatives:

  • Live chat
  • Email: [email protected]
  • Phone: +44(0) 207 523 5394

The technical support offers you several alternatives to communicate with the technical advisers. However, the service is only 24/5. For this reason, FXGiants loses one point in this classification, as the ideal scenario would be to have a 24/7 technical support service.

FXGiants Customer Support Score: 9/10

#7 FXGiants’ Asset Classes

Stocks

You can buy stocks of the main American companies through CFDs. For example, you could operate with companies like Apple, Google and Facebook.

Currency Pairs

You will be able to trade more than 70 currency pairs through CFDs. For example, EUR / GBP, EUR / USD, EUR / GBP, etc.

Gold

At FXGiants you can buy gold and other metals through CFDs.

ETFs

With FXGiants you can buy this type of financial instruments through CFDs.

As you can see, the supply of financial instruments is rather limited. Unfortunately, you will not be able to invest in bonds or crypto. This factor reduces the diversification capacity of your portfolio.

FXGiants Asset Classes Score: 6/10

#8 Referral Program

At this time FXGiants does not offer a referral program. For this reason, it is impossible to be able to assign points in this regard to FXGiants.

FXGiants Referral Program Score: 0/10

#9 Demo Account & Educational Resources At FXGiants

FXGiants allows you to open a demo account. This wonderful tool will allow you to test your hypotheses and investment strategies without risking real money.

FXGiants: Demo Account

FXGiants does not offer any educational resources. This is a very important point in a broker because it will allow you to expand your capabilities as a trader. For this reason, the broker loses points.

FXGiants Demo Account & Educational Resources Score: 7/10

#10 Safety & Regulation

FXGiants is a trade name of Notesco UK Limited. Notesco UK Limited is authorized and regulated by the Financial Conduct Authority (FCA no. 585561). Additionally, the company is a member of the Financial Services Compensation Scheme (FSCS), which covers eligible clients up to a maximum of 85,000 GBP per person, making this a scam-free, safe environment where you can invest your money at ease.

FXGiants Safety & Regulation Score: 10/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.

FXGiants vs. Capital.com

One of the most relevant aspects when taking the best and most profitable investment ideas is that you can have a platform that can add value to your strategies. Moreover, this platform should allow you to be confident when investing your money and should let you do the best technical and fundamental analysis while charging you the lowest rates possible. Taking into account the most relevant aspects for an investor, we prefer Capital.com over FXGiants for the following reasons:

It has the best fees

Capital.com doesn’t charge any fees on any asset that you trade: stocks, commodities, cryptocurrency, indices, forex, ETFs, or anything else. It doesn’t charge monthly or annual fees, inactivity fees, or deposit or withdrawal fees, either. It also offers tight spreads on trades, unlike other zero-fee brokers, who make their money on wide spreads. Capital.com only makes money on the overnight fees on leveraged trades, so if you trade without leverage, you’ll never pay any fees.

The Best Investment Options

FXGiants has a good number of CFDs that you can invest in. However, Capital.com offers you several possibilities because, on its investment platform, you will be able to access a greater number of CFDs, as well as other asset classes not offered by FXGiants. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios, therefore reducing risk.

Related: If you’re looking for a platform that will easily let you find profitable investment strategies fom top rated investors, read our eToro review.

Capital.com Has Referral Program

FXGiants does not have a Referral Program that allows you to earn bonuses so that you can gradually increase your capital. In contrast, Capital.com offers you a Referral Program that will allow you to earn  $25 USD for each person you invite to invest in this wonderful investment platform.

It Provides More Educational Resources

Apart from offering an excellent unlimited demo account with $100,000 USD of paper money for you to practice, at Capital.com you have more tools and options so you can study the market and create the best investment plans. For example, you will be able to access:

  • Free financial webinars.
  • Educational courses for traders.
  • Extensive market glossary.
  • Comprehensive CFD trading guide.
  • Cryptocurrency trading tutorial.
  • Investmate, Capital.com’s investor education app.

This makes Capital.com a great choice for beginners who are only starting out in the world of trading and who are avid for as much information as possible.

FXGiants In Summary

  • FXGiants is a UK registered company offering over 200 negotiable instruments of 6 asset classes through CFDs on Forex, futures, metals, indices, commodities and stocks.
  • The company is a member of the Financial Services Compensation Scheme (FSCS), for eligible clients with a maximum of 85,000 pounds per person regulated entity.
  • FXGiants offers several types of accounts with which you can trade the same instruments in each of them.
  • At FXGiant you only need to pay trading fees on stocks and futures. The rest of the investment alternatives that FXGiants offers are free of trade commissions.
  • FXGiants does not charge any fees for deposits.
  • The account opening procedure is quick and easy and takes less than 5 minutes.
  • The minimum deposit to be able to trade FXGiants is  $100 USD.
  • FXGiants offers you Metatrader 4 as an investment platform.
  • The broker offers several options for depositing and withdrawing funds (JPY, EUR, USD, GBP, CHF, and CNY).
  • FXGiants offers you multilingual customer support 24 hours a day, five days a week.

In general terms, we think that Capital.com is a better option because it offers a broader base of investment options, doesn’t charge any fees on any asset that you trade, and the educational content is complete and useful. Also, the trading platform has an excellent interface and far better withdrawal options. Capital.com is ideal for all types of investors. If you are a beginner or an experienced trader you will see that this wonderful broker is an ally that will allow you to fully exploit capital gains.

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