All other consumers belong under an offshore entity of Notesco Limited, registered in the Bahamas. Besides this, the entity has offices in Gibraltar. However, none have any regulations, meaning they operate without appropriate supervision.
Since EU residents are onboarded through an offshore entity, they experience high leverage of up to 1:1000. According to ESMA, such leverages are prohibited, and there’s a strict limit of 1:30 for retail traders. This is due to high volatility and various trading risks.
If you have any information about entities and their operations, don’t hesitate to share it with us.
FXGiants is an offshore brand based in the Bahamas. While a branch of the firm is under the FCA umbrella, there are numerous red signs about this brokerage.
Since offshore, FXGiants received several regulatory warnings in Europe. As discussed, customers are offered unregulated trading conditions, and their funds are not protected.
It’s our final proof that we were onto something, and FXGiants is not as legit as it appears.
Currently, there are 61 reviews left, 36% being 1-star. We believe as time goes by, more negative comments will appear as fake ones have been deleted.
According to our findings, FXGiants is mainly present in:
FXGiants trading platform choice depends on the entity you register with. UK customers can only trade on MT4, while for offshore investors, the broker also adds WebTrader.
MT4 is the best software today, taking over 50% of the market share with its successor, MT5. Both offer a large number of technical and analytical tools, social trading, EAs, and much more. While a bit older, MetaTrader 4 is quite user-friendly and easy to navigate, making it an audience favorite.
WebTrader, on the other hand, is simpler and easier to use but has fewer features. You won’t be able to research the market in-depth, but you can still place some trades. Additionally, the software is browser-based, meaning it doesn’t require any installations.
Each MetaTrader comes with dedicated mobile apps. However, Apple banned MT on iOS devices in September last year, meaning iPhone users cannot currently access it. If you’ve had an app previously, you can use it but won’t receive any new updates.
As per Android consumers, the situation stays the same, with the possibility to download and update the app regularly.
The company offers the following range of market groups:
Additionally, customers can engage in spread betting on both UK and offshore sites.
Spreads depend on the FXGiants account type. They start from 1.7 to 0.0 pips, in which case there’s a commission of $9 per lot.
Speaking of accounts, let’s take a look at your options. You can choose from the Live or ECN/STP category.
Live accounts are as follows:
The main difference is spread starting from 1.0 and 1.3 pips, respectively, while there’s no spread on the Zero account.
ECN/STP accounts are as follows:
The situation here is similar, with the first account having a spread of 1.7 pips, the second one having a commission of $3.75 per lot per side, and the last one starting from 0.2 pips.
You’ll notice that we’re missing minimum deposits for all account types. Something a legitimate broker shouldn’t hide. When it comes to trading bonuses, only the first two Live types allow deposit bonuses on the offshore entity.
In addition to the types above, the broker also offers a risk-free and swap-free account. However, here’s the catch. The swap is only free for 30 calendar days for FX majors and 10 calendar days for other assets. Additionally, this account type is only available through an offshore entity.
There are not many details about the FXGiants Demo account. You can register and choose the type of account you wish to simulate. Keep in mind that once you submit your details, you’re providing the broker with ways to get in touch and pressure you to deposit the money.
In case you’re having trouble with your FXGiants account, you can contact the authorities if you reside in the region where the license applies. In any other event, you can reach out to Global Fraud Protection.
Our chargeback experts and CipherTrace crypto analysts are ready to evaluate your case and check whether you can request a refund. Don’t waste time. Let’s take a look into your matter during a free consultation!
FXGiants has two entities – one under an FCA license and one offshore. In case you’ve experienced any trouble with the broker, allow us to help you with a refund.
The brokerage didn’t specify the minimum amount it would require for account opening.
Yes, clients of an offshore entity are entitled to a deposit bonus when opening an account.
FXGiants has two entities – one under an FCA license and one offshore. In case you’ve experienced any trouble with the broker, allow us to help you with a refund.
The brokerage didn’t specify the minimum amount it would require for account opening.
Yes, clients of an offshore entity are entitled to a deposit bonus when opening an account.
The post FXGiants Review 2023 – Some Facts About This Brokerage Firm appeared first on Global Fraud Protection.
