FXGiants-Overview of Minimum Deposit, Spreads & Leverage

BASIC INFORMATION:

FXGiants is a forex and CFD broker with MT4 integration. This brokers brand is formed of three entities. FXGiants is a brand name of Notesco UK Limited, which is regulated by the Financial Conduct Authority (FCA) and has a registered office address in London. It is a trading name of Notesco Pty Limited, which is licensed by the Australian Securities and Investment Commission (ASIC). FXGiants is also a trading name of Notesco SVG Limited, which does not appear to be regulated. The branch that clients trade under depends on their registered location. Globally FXGiants BM offers its services to traders in over 150 countries, including Portugal and Indonesia.

REGULATORY INFROMATION: LICENSE

FxGiants claims that it is regulated by the Financial Conduct Authority at the United Kingdom with the regulatory license number of 585561. However, this license is verified to be a clone one. FxGiants is posing as a legit broker to scam traders.

MARKETS

FXGiants offers over 300 tradeable instruments across a wide range of assets:

· Forex – more than 70 currency pairs

· Metals – gold and silver

· Indices – 12 indices

· Commodities – 12 consumables including coffee and wheat

· Futures – on the majority of assets including currencies and indices

· Shares – major companies such as Aston Martin

· Energies – Brent and WTI oil, natural gas

SPREADS & COMMISSIONS

At FXGiants the spread offered depends on the account type but are generally competitive. For example, the average EURUSD spread is as follows:

· Live Floating Spread – 1.07

· Live Fixed Spread – 1.31

· Live Zero Fixed Spread – 0

· STP/ECN No Commissions – 1.74

· STP/ECN Zero Spread – 0.04

· STP/ECN Absolute Zero – 0.24

The Live Zero Fixed Spread account includes a commission of $9 per lot per side, and the STP/ECN Zero Spread type charges $3.75. FXGiants also charges a swap fee for positions held open overnight, and an annual $50 charge on inactive accounts.

LEVERAGE

All clients at FXGiants can access leverage to increase their position size:

· UK – up to 1:30 on all account types

· Australia – Live accounts up to 1:500, other accounts up to 1:200

· Global – Live Floating Spread and Live Fixed Spread up to 1:1000, Live Zero Fixed Spread up to 1:500, all STP/ECN accounts up to 1:200

ACCOUNT TYPES

FXGiants traders can open several real accounts depending on their intended strategy. The minimum lot size is 0.01 across all accounts. The Live category includes the Live Floating Spread, Live Fixed Spread, and Live Zero Fixed Spread, where the latter incurs commission in exchange for spreads from 0 pips.

The STP/ECN solutions include the STP/ECN No Commissions, STP/ECN Absolute Zero, and STP/ECN Zero Spread, the last of which also charges a commission for variable spreads starting from 0 pips. ECN execution is an efficient and rapid order placement technology that may benefit advanced traders.

PAYMENT METHODS

At FXGiants the minimum deposit starts from $100. This broker accepts deposits via several routes including Visa, wire transfer, and digital wallets such as Neteller and bitwallet. These methods are instant except for wire transfer, and clients have the choice of six base currencies. Where deposits or withdrawals are performed without trading activity, the broker charges a 3% fee on deposited funds.

Withdrawal can only be done through bank wire, and traders should apply via the Hub. Withdrawal processing time can be up to 5 working days

TRADING PLATFORMS

· MetaTrader 4

· Personal Multi-Account Manager (PMAM)

· AutoTrade

· MT4 Virtual Private Server (VPS)

ACCEPTED COUNTRIES

FXGiants accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders cannot use FXGiants from United States, Iran, Korea, Cuba, Sudan, Syria