A feature of our time is that in many areas of life the available possibilities are expanding and therefore decisions have to be made constantly. This phenomenon also applies to the area of trading, where traders are now faced with a selection of different providers that can hardly be overseen. First of all, this has the advantage that the chances, at least theoretically, increase significantly to find a provider who meets the individual requirements the most. Traders who have a certain penchant for perfectionism and are looking to identify the perfect online broker should be prepared for a complex task. For this reason, we would like to test the online broker FXGiants this time and find out what quality and what specific offers traders can count on. In any case, the first impression aroused our interest. A good selection of accounts and a convincingly structured range of underlying assets are the best prerequisites for the trader to find what he needs.
|🥇 Best seller||FXGiants|
|⭐Rating||5.0 / 5.0|
|🐂 Trading||Forex & CFD|
|📈 Underlyings| ||63||85 Währungspaare, 6 Metalle, 16 Indizes, BitCoin uvm.|
|💻 Software||MetaTrader 4, Personal Multi-Account Manager (PMAM)|
|⚖️Regulation:||FCA (Great Britain)|
Our experience at a glance
We have subjected FXGiants to an extensive test and all compiled our experiences in our review. But before we go into the individual results, we would like to inform you about our overall impression and our most important experiences with this online broker. Anyone who has looked around a bit in the online broker scene will know that there are several types of providers here. Some specialize in a certain market segment or on certain traders. Others enter the market with the aim of targeting as many traders as possible with the widest possible range of products. In our experience, the online broker FXGiants clearly belongs to the second group. This becomes clear very quickly after the visitor has looked around the overall well-structured and clear website. There is not only a wide range of base values to choose from, which in some areas also goes beyond the current range. Also looking at the accounts that can be used for trading, it is clear that FXGiants is targeting a very broad audience.
|Companies||8Safe UK Limited|
|Adresse||55 Old Broad Street,London,EC2M 1RX,UNITED KINGDOM|
|Telephone||tel: +44(0) 207 523 5394|
There are five different account types to choose from. In addition, there is a demo account, so that in principle the offer can also be tested in peace. Entry into real trading is possible with a deposit of just 100 euros. In addition, the account can also be managed in many other currencies. On the other hand, there is not a large selection in the area of trading platforms, where FXGiants relies on the qualities of the MetaTrader. The Personal Multi-Account Manager (PMAM) is also available for trading. Much more important, however, is the question of whether trading can be carried out smoothly and cost-effectively. According to our experience with FXGiants, this is guaranteed in any case. Due to the wide range of accounts, traders can also choose specific fee models that best suit their trading style. And FXGiants customers also have a lot to offer around trading. First of all, support can be used, which is available around the clock. And since trading in Forex products and CFDs is a segment in which an individual strategy and knowledge of the market and trading techniques determine success or failure, it is a clear plus that there are also numerous offers for market information and personal training are available. All in all, we have gained a very positive impression of the broker, so there is a good chance that traders with the most varied of requirements will find a convincing trading partner in FXGiants.
FXGiants under review: Fraud or serious?
The performance features are convincing, but for long-term successful trading the question remains whether the online broker can be considered sufficiently serious. With this aspect in particular, many traders find it difficult to form a reliable judgment. Because in principle it is not possible to look behind the scenes of an online broker. Therefore, a verdict on trustworthiness can actually only be made on the basis of two crucial factors. On the one hand, there are the experiences that other traders have had with a particular provider. On the other hand, of course, external control is also an important factor that traders can use as a guide. In the first point, it can be stated that we have had good experiences in terms of seriousness during our test and that there is no information from other traders that would suggest doubts about this view. The fact that it is a regulated provider is also reassuring for traders. Against this background, it can be assumed that legal requirements for the protection of customer rights are complied with. All in all, looking at the seriousness, we have come to the conclusion that FXGiants is a provider that traders can place their complete trust in. On the other hand, there is no need to fear fraud or rip-off.
Up to this point it can be said that FXGiants has left a positive overall impression and can also be classified as trustworthy. Now we would like to take a look at the offer and the conditions in detail. As already mentioned, there is a very wide range to choose from. This applies to the account types that can be used for trading as well as to the underlying assets, which include a total of 200 individual titles from different categories. We would now like to go into both aspects in detail.
Five account types for the perfect cost model
If you want to fall back on the trading offer of underlying assets, must first decide on a specific account type. In principle, there are five different types to choose from, although it is not entirely clear which additional benefits the higher account versions actually provide. Apparently, FXGiants has opted for a policy in which, in principle, all users can benefit from the same support and the same support options. The differences in relation to the individual account models are therefore only to be found in the conditions. The micro account, which only requires a deposit of 100 euros to start trading with real credit, is of interest to beginners. The entire range of underlying assets can be accessed and the spectrum of leverage that can be used ranges from 1:1 to 1:500, as with the other account types. However, you can trade with significantly smaller amounts, lot sizes of 0.01 are already available with this account model.
Another option that is available in relation to this account is the mode of Calculation of the spread. In addition to the "Live Fix Model", the "Live Floating Model" is also available. The trader can therefore decide whether he wants to trade on the basis of specified spreads or spreads freely formed on the market. In principle, the same conditions apply to the account labeled Premium. However, lot sizes of 0.1 are traded here and overall the average spreads are slightly lower. While an average of 1.1 points can be expected in dollar / euro trading with the micro account, this value is 0.7 with the premium account when trading with "floating spreads". However, and this is the second main difference between these two account types, the minimum deposit for the premium account is significantly higher at EUR 2,500. There are also three other account types with specific cost and fee models. These include the "0 Fixed Spread Account", which trades on a commission basis, and the "STP/ECN Account", which trades directly on market conditions. The "SPT/ECN 0 Spread" can be selected as the fifth version, in which trading is carried out at market commissions. A minimum deposit of 500 euros applies to all three account formats mentioned. The minimum lot sizes are 0.01 everywhere. In addition, the two STP/ETC accounts do not have a personal account manager who can be contacted directly. Every trader has to find out for himself which of the account models mentioned is the cheapest in terms of costs. In principle, it is possible to switch to a different account model at any time. You can also use the demo account to test what fits best.
A total of around 200 underlyings to choose from
Now let's take a look at the underlyings that are available for trading. The offer is broken down into the categories of equities, equity indices, commodities and metals. In addition, a selection of other underlying assets can be accessed in a separate area with futures contracts. But first to classic CFD or Forex trading. First of all, the selection of currency pairs is very broad. Overall, traders at FXGiants can choose between more than 80 currency pairs. This number alone makes it clear that the offer should leave nothing to be desired. As with every online broker in this area, the most important currencies, the so-called majors, are available for trading in all conceivable combinations. In addition, a lot of other important but also less important currencies can be traded. These include the Swiss franc, the dollar currencies of New Zealand, Singapore and Canada, and the Scandinavian currencies of Sweden, Denmark and Norway. But even that is not the end of the offer. It is also possible to trade based on the Turkish lira, the Mexican peso or the South African rand. All in all, the range of currency pairs is definitely something for experts who dare to rely on the development of lesser-known national currencies.
In addition, trading in the precious metals gold, silver and palladium is available. Traders can choose whether they want to trade based on the performance in dollars or euros. In the area of commodities, the products oil and gas are also in the FXGiants program. There is also a wide selection of indices that can be used to track the economic development of individual regions and markets. In addition to the internationally important stocks such as Dow Jones, Dax or Nikkei, the indices of Switzerland, Spain or the Netherlands are also available. While the European markets dominate the indices, we have identified a focus on American stocks in the equities area. In our experience, the values include the stocks of the Dow Jones, which means that there is a good selection from different sectors. The offer in this category is supplemented by a few British titles such as Vodafone or HSBC. A fifth category, which is only available with a few online brokers, are futures contracts. Here, on the basis of futures, you can bet on the performance of other indices and agricultural products. In summary, FXGiants offers a fairly wide selection of base values at generally favorable conditions, with various attractive fee models being offered.
Up to 100 percent bonus possible
Even with an interesting bonus, the FXGiants clients count. There are different models to choose from. The first thing to mention here is the 100 percent bonus maximizer, which is also available to new customers, but not only to them. In principle, you can benefit from this offer with every deposit. There is 100 percent bonus capital added to the deposited amount. There are also no restrictions with regard to the selected account model. Now 100 percent bonus sounds very interesting. However, traders should always keep in mind that this is not capital that can be paid out at will. Payouts, which are of course still possible, immediately result in a reduction in the bonus. If profits are made in trading, only half of the credit is available for payment. The bonus is therefore a kind of additional leverage. In addition, a so-called "No Deposit Bonus" can also be used. This makes it possible to start trading with a bonus capital of 35 euros, but then special conditions apply to leverage and margin. In principle, however, profits made with this capital can be paid out.
|Deposit bonus:||up to 100 percent (Bonus Maximiser)|
|Bonus conditions:||corresponding turnover must be achieved for payout|
|Other bonuses:||No Deposit Bonus|
Deposits and withdrawals via bank transfer, credit card or e-wallet
If you do not start trading with the "No Deposit Bonus" or this bonus has been used up, money must be deposited into the trading account , if you want to continue trading. There is a wide range of options available for this. It can first be paid in by classic bank transfer. In addition, there is the possibility of transferring money to the trading account by credit card and, last but not least, various e-wallets, i.e. online service providers, can be used for this. In principle, deposits can be made free of charge. When paying out, on the other hand, fees are due from various providers. When paying out by credit card, about two euros are charged per transaction.
|Overview of the deposit and withdrawal methods|
|Payment options:||MasterCard, VISA, Skrill, Neteller , SafeCharge, DotPay, ChinaUnion, EcomPay, Bank Transfer|
|Minimum Deposit:||100 Euro|
|Fees:||partly, depending on the method| ||229|
|Kontoführung möglich in:||USD, EUR, GBP, AUD, JPY, CHF, PLN, HUF, CZK|
|Payout options:||MasterCard, VISA, Skrill, Neteller, SafeCharge, DotPay, ChinaUnion, EcomPay, Bank Transfer|
Security through FCA regulation
An important consideration for the full evaluation of an online broker is the issue of regulation . A high level of security can only be assumed for regulated providers. In the case of FXGiants, this requirement is fulfilled in any case. The company is headquartered in London, where regulation at EU level is currently still required. And it is not to be expected that the standards here will be significantly lowered in the next few years either. The traders can therefore rely on sufficient security, especially with regard to their invested capital. Even if the online broker goes bankrupt, there is no risk that the deposits in the trading account will be lost, since the online broker is obliged to deposit the money in a separate account with a bank.
High marks for customer service
In terms of customer service, FXGiants customers can count on a very good level. A personal account manager is available who can be called directly or written to via live chat. However, for customers who only speak Canadian, it can become a problem that there is no explicit Canadian support service available. Knowledge of English is therefore a key requirement in order to take full advantage of the opportunities. This also applies to e-mail, which is also available as a contact option.
The website is very user-friendly
While the support is only available in English and also in a few other languages FXGiants customers can rely on a well-structured website, which is also available in a Canadian version. Here, customers can find out about the trading offer, the conditions and questions about trading. A very decent range of further training courses can also be used in this context. The live courses on currency trading, the economic calendar and the lexicon are all available in English, but not in Canadian.
Mobile app enables trading with the smartphone
For trading itself the MetaTrader 4 platform can be used, which is available for free download. In addition to trading on your own computer, you can also access a mobile version. The app is available for free download for both iOS and Android and gives the trader additional scope for trading. Our experience has shown that many instruments can also be used on the go, so that there are hardly any restrictions in mobile trading.
Conclusion - FXGiants offers traders a wide selection
With FXGiants we tested an online broker that has a lot to offer overall. What initially convinced us was the fairly broad and well-structured range of products on offer. In addition, the range of available accounts can also be rated positively. The services of FXGiants can be used from a minimum deposit of 100 euros, which makes it particularly easy for beginners. The comprehensive support, which is available around the clock, can also be used with the Mirco account, which is available in this case. However, English language skills are of elementary importance here, just like when using videos and the lexicon. We see this as a small minus pointcompared to other brokers. In terms of seriousness, we got to know a provider who ranks at a very high level. In this context, it is also positive that there is regulation by the British supervisory authority. Against this background, traders do not have to worry about the risk of fraud or rip-off.