Is FXGiants a Legit Broker?
FXGiants is a run-of-the-mill forex and CFD broker. Our FXGiants review didn’t find anything to sing home about, with a mediocre selection of assets from the broker. The most troubling aspect is that they have the same parent company as another broker that has been in serious trouble for withholding trader withdrawals in the past.
|Forex and CFDs
FXGiants Review: Regulation and Security
There are actually two brokers operating under the brand FXGiants. Our FXGiants review took a look at both of these entities to see if they’re properly regulated. There is both the UK and an Australian version of this broker. Their UK branch is under the parent company 8Safe UK Ltd. This is the same company that owns and operates IronFX. The company was once called IronFX but changed its name after their Cypriot branch had to pay fines and was put under investigation for denying traders access to their funds.
FXGiants registration is with both the FCA in the UK and ASIC in Australia. Their operating company in Australia is GVS (AU) PTY Limited. While FXGiants regulation from two competent financial regulators makes the broker appear very trustworthy, we already know that other brokers run by the same operating company have had a history of denying trader withdrawals without any valid reason.
What Can You Trade With FXGiants?
FXGiants account types come in both STP and ECN varieties. The FXGiants minimum deposit to open an account is $500. Our FXGiants review found the spreads on most of their accounts to be too high, with up to 2.2 pips on the standard EUR/USD pair. Although the broker also has spread-free commission accounts, high commissions mean traders are going to be paying about the same anyway.
Traders with this broker have access to the standard MetaTrader 4 platform. This is the most widely used platform among online brokers, with traders from many different brokers being familiar with the platform. The broker’s forex selection is somewhat lacking, with only a few major currency pairs available. Their CFD options are a bit more varied, with stocks, commodities, and more available.
Where Does FXGiants Accept Traders From?
Between having registration in both the UK and Australia, the FXGiants broker has the authorization to provide financial services to a wide variety of countries through mutual authorization agreements. There are a few particular countries where the broker does not offer any services, including the United States, Cuba, North Korea, and Cuba.
Deposit and Withdrawal Methods
Our FXGiants review found that the broker offers many different options for making deposits and withdrawals. In addition to standard options like credit and debit cards and wire transfers, they support a vast array of online payment processors. Beyond Skrill and Neteller, FXGiants withdrawals can be processed with DotPay, Safecharge, and more.
Get Your Funds Back Before It’s Too Late
Please don’t wait until it’s too late and you’ve fallen for the FXGiants scam. When its sister broker IronFX withheld withdrawals from their clients, they had to wait for financial regulators to act to get their money back. Act now, while you can still recover your funds. Contact the team of professionals here today to get a chargeback rolling and get your money back into your bank account.
Is FXGiants a Regulated Broker?
Yes, this broker has licenses from the financial regulator for both of its primary offices, including the FCA in the UK and ASIC and Australia.
Is FX Giants a Good Broker?
There’s very little reason to believe so. The broker’s minimum deposit is too high, their asset selection is too sparse, and their affiliation with other disreputable brokers is troubling.