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FXGT group includes 3 related companies.
FXGT SA - located in South Africa, regulated by the Financial Sector Conduct Authority (FSCA).
FXGT SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).
FXGT VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).
FXGT group accepts clients from all over the world, excluding USA, Canada, UK, European Union, North Korea and some other OFAC sanctioned countries.
Forex broker offers the following underlying assets for trading.
| 50+ Currency Pairs | Based on major and minor world currencies. |
| 30+ Crypto Pairs | Based Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, Cardano, Stellar, Polkadot, Doge, Shiba, Solana. |
| 11 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 2 Metal CFDs | Based on Gold and Silver. |
| 3 Energy CFDs | Based on Crude Oil (WTI, Brent) and Natural Gas. |
| 50+ Stock CFDs | Based on shares of US and EU companies. |
FXGT is a forex broker that is registered and regulated in South Africa, in addition to having offshore branches registered in the Seychelles and Vanuatu. The broker offers trading in a range of instruments across different asset classes with leverage as high as 1:1,000.
One important thing to note about FXGT is that although this broker also technically has an entity registered in Cyprus, it does not accept retail clients from the European Union. Instead, services within the EU is only offered to “eligible counterparties” as defined in the European MiFID II regulations, which essentially means financial institutions.
In addition being closed to EU-based traders, FXGT does not accept clients from the United States, United Kingdom, Canada, and a few other smaller countries.
In terms of instruments available for trading, FXGT has all of the most popular assets covered. This includes more than 50 forex pairs, various cryptocurrencies traded against USD, EUR and JPY, around 50 stock CFDs, major stock indices, precious metals, oil, and natural gas.
All of the assets can be traded on either MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are the only two trading platforms offered by this broker. As usual, MetaTrader is available in its standard downloadable version, as well as in a version for web, and in mobile versions for Apple and Android devices.
In terms of trading accounts, FXGT has five different options to choose from:
– PRO, with spreads from 5 pips and no commissions
– ECN, with spreads from 0 pips and commissions of $5 to $6
– Mini, with spreads from 10 pips and no commissions
– Standard+, with spreads from 10 pips and no commissions
– Crypto Max, for trading in crypto only, with varying spreads and no commissions
All of the trading accounts have a minimum deposit of just $5, and support trading on both the MT4 and MT5 platforms. Important to note, however, is that the Crypto Max account only supports trading in crypto, while the other account types all support trading in both crypto and traditional CFDs and forex pairs.
To fund a trading account, FXGT clients can use traditional payment cards like Visa, MasterCard, or JCB, online money transfer services such as Sticpay, or send crypto directly to the broker’s digital wallet.
FXGT accepts the following cryptocurrencies for account funding: BTC, ETH, XRP, ADA, and USDT (on Ethereum, Tron and or via the third-party payment processor Binance Pay).
In case of any difficulties during sign-up or later during trading, FXGT’s support team can be reached by using a live chat option provided on the website, or by sending an email. Unfortunately, there is no phone number provided, and the broker has not given any information about its support team’s working hours.
In conclusion, we want to note again that FXGT strangely does not accept traders from the EU, UK, US, and Canada, despite having a branch in Cyprus that is regulated by the local regulator and the European Securities and Markets Authority (ESMA). One thing we do like about the broker, however, is the very good selection of cryptocurrencies to trade, and the fact that it also accepts a number of cryptos free of charge as a funding method for new accounts.
I have been trading for a long time with FXGT and don't have any major complaints about this broker.
I had an account where I made money through Forex. There was no problem withdrawing money 3 or 4 times, but when I wanted to withdraw my $4K inside, they said that your withdrawal was not approved because your account made transactions that did not comply with our company policies. I asked them, "Can you please provide me with evidence of that?" Afterwards, they said that the relevant department would inform me and I started waiting. Afterwards, they zeroed all the money in my account. They also made my membership inactive. I send an e-mail, they do not answer. I ask for evidence, they cannot provide evidence.
I sent USD 70k and this broker repeatedly asked KYC documents without looking into the documents I provided with. Now I feel reluctant to keep using them.
