Top 8 Locally Based Brokers
FXGT.com Review
Overall, FXGT.com (Formerly Global GT) is considered low risk, with an overall Trust Score of 90 out of 100. FXGT.com is licensed by zero Tier-1 Regulators (high trust), two Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). FXGT.com offers Kenyan traders four retail trading accounts, namely a Mini, Standard+, Pro, and ECN Account.
- Louis Schoeman
Jump to:
Overall Rating
- 4.7/5
Total Pairs
18
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXGT.com – 25 key points quick overview:
Top 3 FXGT.com User Reviews - FXGT.com Geographic Reach and Limitations
- FXGT.com at a Glance
- FXGT.com Regulation and Safety of Funds
- FXGT.com Awards and Recognition
- FXGT.com Account Types and Features
- How to open an Account with FXGT.com
- How to close My Account with FXGT.com
- FXGT.com vs BDSwiss Vs eToro – Broker Comparison
- FXGT.com Trading Platforms
- FXGT.com Investment Programs
- FXGT.com Trading and Non-Trading Fees
- FXGT.com Deposits and Withdrawals
- How to Deposit Funds with FXGT.com
- FXGT.com Education and Research
- FXGT.com Bonuses and Promotions
- How to open an Affiliate Account with FXGT.com
- FXGT.com Corporate Social Responsibility
- FXGT.com VPS Review
- FXGT.com Trading Signals
- FXGT.com Cashback Rebates Features and Conditions
- Our Final Verdict on FXGT.com
- FXGT.com Alternatives
- Frequently Asked Questions
- Conclusion
Top 3 FXGT.com User Reviews
Because the merger between Global GT and FXGT.com happened recently, we could not source user reviews on this new company. However, we have found some user reviews on Global GT that we have listed below:
- Kamau Thompson (May 2023) “Global GT is an exceptional brokerage service, surpassing my experiences with other brokers. Their prompt execution and swift withdrawal processes set them apart in the industry.”
- Amina Johnson (May 2023) “The responsiveness of Global GT to client and IB needs is commendable, ensuring swift support. Their deposit and withdrawal services are among the best, allowing for efficient transactions.”
- Chege Wilson (January 2023) “I find Global GT to be an outstanding broker that excels in transparency—an aspect often lacking in other brokerage firms. The accessibility of bonuses for initial trading is remarkable, without convoluted requirements typical of other brokers.”
Advantages that FXGT.com has over competitors
- FXGT.com offers diverse trading instruments, including foreign exchange (FX), indices, shares/stocks, CFDs, cryptocurrencies, precious metals, energies, and synthetic cryptos.
- Traders can choose from four different account types to select the account that best suits their trading needs and style.
- FXGT.com has a low minimum deposit requirement, making it accessible to many traders.
- The broker offers attractive promotions, providing additional benefits and incentives to traders.
- FXGT.com offers unique trading opportunities, including their proprietary GTi12 Index and synthetic cryptos only available on their platform.
- Traders have access to round-the-clock live, multilingual customer support with quick response rates, ensuring timely assistance whenever needed.
Who will Benefit from Trading with FXGT.com?
Traders who will likely benefit the most from FXGT.com are looking for a low minimum deposit, a wide range of trading options, high leverage, and robust security measures.
It may also benefit traders who prefer using MetaTrader 4 and MetaTrader 5 platforms and those interested in taking advantage of the various bonuses offered by FXGT.
Trading with FXGT.com Pros and Cons
Pros
- Low Minimum Deposit: FXGT requires a minimum deposit of only $5, which is relatively low compared to many other brokers. This makes it more accessible for traders just starting or those who prefer not to invest much money upfront1.
- Variety of Markets: FXGT offers trading in several instruments, including Forex, precious metals, energies, equity indices, and stocks. This broad range of options allows traders to diversify their portfolios.
- High Leverage: FXGT offers a maximum leverage ratio of 1:1000, which is quite high. High leverage can increase the profit potential, but it also increases the risk, so it is essential for traders to use leverage wisely.
- Robust Security Measures: FXGT has several security measures to protect client funds. These measures include segregated funds, advanced encryption technology, secure servers, strong firewalls, and negative balance protection. They also maintain a capital adequacy ratio of 40%, significantly higher than the typical requirement, and offer liability insurance up to a total of €1,000,000 against certain risks.
- Bonuses: FXGT offers various bonuses for traders, including a cashback promo, a tiered loyalty bonus of up to $6,000, a loyalty reset bonus, and a VPS sponsorship program.
- Trading Platform: FXGT uses MetaTrader 5 as its trading platform, known for its advanced features and reliability. It is available on desktop, web, Android, and iPhone in English and Japanese.
Cons
- High Leverage Risks: While high leverage can be an advantage for experienced traders, it can also disadvantage less experienced traders due to the increased risk of significant losses.
- Potential for High-Volume Trading Requirements: The bonuses offered by FXGT may require high-volume trading before profits can be withdrawn, which may not be ideal for some traders.
FXGT.com Geographic Reach and Limitations
FXGT.com occupies the largest market share in these regions, according to its website traffic information:
- Japan – 86.38%
- Thailand – 12.37%
- Lao People’s Democratic Republic – 0.58%
- Malaysia – 0.17%
- Indonesia – 0.11%
FXGT.com’s Current Expansion Focus
FXGT.com is currently expanding across Africa, Asia, and Europe.
Countries not accepted by FXGT.com
FXGT.com does not accept clients from these countries:
- United States
- North Korea
- Canada
- Russia
- Iran
Popularity among Kenyan traders who choose FXGT.com
FXGT.com (formerly Global GT) is currently one of the Top 200 Forex and CFD Brokers for Kenyan traders.
FXGT.com at a Glance
| 🏛️ Headquartered | South Africa |
| 🏛️ Kenyan Based Office | No |
| 👍 Accepts Kenyan Traders? | Yes |
| 📅 Year Founded | 2020 (Global GT) |
| 📱 Kenyan Office Contact Number | None |
| ⚖️ Regulation | FSCA, CySEC, VFSA, FSA |
| 🔎License Number | South Africa – FSP 48896 Cyprus – 382/20 Vanuatu – 700601 Seychelles – SD019 |
| ⚖️ CMA Regulation | None |
| ✴️ Regional Restrictions | United States, Russia, Canada, Iran, and North Korea |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 4 |
| 📊 PAMM Accounts | None |
| 📊 Liquidity Providers | None indicated |
| Affiliate Program | Yes |
| 📊 Crypto trading offered? | Yes |
| 🚀 Offers a Kenyan Account? | No |
| 💻 Dedicated Kenyan Account Manager? | No |
| 📈 Maximum Leverage | 1:1000 |
| 📈 Leverage Restrictions for Kenya? | Yes, leverage depends on trading volume |
| 💳 Minimum Deposit (KES) | 700 KES ($5) |
| 💳 Kenyan Shilling Deposits Allowed? | No |
| 💰 Active Kenyan Trader Stats | 90,000+ |
| Active Kenyan-based FXGT.com customers | Unknown |
| 💰 Kenya Daily Forex Turnover | 461 million USD (average) |
| 💳 Deposit and Withdrawal Options | Debit/Credit Cards Cryptocurrencies SticPay Neteller Skrill Naira Online Perfect Money Local Bank Transfer ZotaPay FasaPay Bank Wire Transfer Binance Pay |
| 💰 Segregated Accounts with Kenyan Banks? | Yes |
| 💻 Trading Platforms | MetaTrader 4 MetaTrader 5 |
| 💰 Tradable Assets | Forex Cryptocurrencies Synthetic Cryptocurrencies Precious Metals Energies Indices Stocks DeFi Tokens NFTs |
| 🌐 FXGT.com USD/KES Forex Pair? | No |
| 🌐 Trading Platform Time | GMT +3 |
| 📈 Are Kenyan Stocks and CFDs offered? | No |
| 👨💼 Languages supported on Website | English, Arabic, Japanese, Thai, Vietnamese, Malay, Turkish |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/7 |
| 👥 Kenyan-based customer support? | No |
| 💰 Bonuses and Promotions for Kenyans | Yes |
| ✴️Education for Kenyan beginners | Yes |
| 📊 Proprietary trading software | No |
| 💰 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✔️Is FXGT.com a safe broker for Kenyans? | Yes |
| ✔️Rating for FXGT.com Kenya | 7/10 |
| ✔️Trust score for FXGT.com Kenya | 90% |
FXGT.com Regulation and Safety of Funds
FXGT.com Regulations in Kenya
FXGT.com is not currently regulated by the Capital Markets Authority (CMA). However, FXGT.com is well-regulated by several reputable market regulators in other countries, as per the table in the following section.
FXGT.com Global Regulations
| 🏛️ Registered Entity | 🔎 Country of Registration | ⚖️ Company Reg. | ✴️ Regulatory Entity | 📈 Tier | 🚀 License Number/Ref |
| 360 Degrees Markets Ltd | Seychelles | 8421720-1 | FSA | 3 | SD019 |
| GT IO Markets (Pty) Ltd | South Africa | 2015/059344/07 | FSCA | 2 | FSP 48896 |
| GT Global Markets Ltd | Vanuatu | – | VFSC | 3 | 700601 |
| TEC International (Cyprus) Ltd | Cyprus | HE 389575 | CySEC | 2 | 382/20 |
How FXGT.com Protects Kenyan Traders and Client Funds
| Security Measure | Information |
| 📈 Segregated Accounts | Yes |
| 💻 Compensation Fund Member | Liability Insurance |
| 📊 Compensation Amount | 1,000,000 EUR |
| 🚀 SSL Certificate | Yes |
| ✴️ 2FA (Where Applicable) | Yes |
| 🔎 Privacy Policy in Place | Yes |
| ⚖️ Risk Warning Provided | Yes |
| 🏛️ Negative Balance Protection | Yes |
| 💰 Guaranteed Stop-Loss Orders | No |
Security while Trading
FXGT.com prioritises the security of its client’s funds, implementing a comprehensive range of measures to ensure their safety and protection while Kenyans trade with the brokerage. The company takes several steps to safeguard client funds:
- FXGT.com maintains segregated accounts, ensuring client funds remain separate from the company’s operational funds. These funds are held in top-tier banking institutions, with no utilisation for any purposes other than clients’ trading activities. This segregation guarantees the utmost protection of funds.
- The brokerage employs advanced encryption technology to ensure maximum data security. Client details, trading profiles, and activities are stored on secure servers protected by strong firewalls. Data transmission is encrypted, preventing unauthorised access and data theft.
- FXGT.com also establishes strong partnerships with Tier 1 Banks, renowned for their creditworthiness and high financial ratings. By depositing client funds in such reputable financial institutions, the company operates at the highest possible standards, ensuring the safety of clients’ funds.
- The brokerage offers negative balance protection, ensuring clients cannot lose more than the amount deposited into their live trading accounts. This protects clients from falling into a deficit and provides additional peace of mind.
- To effectively manage risks, FXGT.com implements a range of policies and procedures. The company monitors client funds held in Tier 1 financial institutions, identifying and limiting potential risks.
- Furthermore, FXGT.com maintains a capital adequacy ratio of 40%, exceeding the industry standard and regulatory requirements. This high ratio demonstrates the company’s commitment to providing one of the industry’s highest levels of fund protection.
- With its focus on fund security, FXGT.com strives to create a secure trading environment for its Kenyan clients. The brokerage ensures the utmost protection of clients’ funds through segregated accounts, advanced data security measures, partnerships with Tier 1 Banks, negative balance protection, rigorous risk management, and robust capital reserves.
Pros and Cons Regulation and Safety of Funds
| ✔️ PROS | ❌ CONS |
| FXGT is well-regulated in four regions | FXGT.com does not have Tier-1 regulations |
| Traders are covered by liability insurance | The CMA in Kenya does not locally regulate FXGT.com |
| Negative balance protection is applied across accounts | |
| All client funds are segregated |
FXGT.com Awards and Recognition
FXGT.com indicates the following recent award on the official website:
- Ultimate Fintech Awards – Best Hybrid Broker in 2022 (won as Global GT)
Overall Rating
- 4.7/5
Min Deposit
USD 5 / 428 KES
Regulators
SFSA, FSCA, CySec*
Trading Desk
MetaTrader 5
Crypto
Yes
*FXGT.com has a CySec license, but it is only valid for institutional clients.
Total Pairs
18
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXGT.com Account Types and Features
| 📈 Live Account | 💰 Minimum Dep. | 📊 Average Spread | 💳 Commissions | 🌐 Average Trading Cost |
| Mini | 700 KES / $5 | 10 points | 0 | 10 USD |
| Standard+ | 700 KES / $5 | 10 points | 0 | 10 USD |
| Pro | 700 KES / $5 | 5 points | 0 | 5 USD |
| ECN | 700 KES / $5 | 0.0 pips | 0.1% – $6 | 6 USD |
FXGT.com Live Trading Account Details
Mini Account
The Mini Account provided by FXGT.com is ideal for traders new to the trading industry. This account offers a user-friendly and accessible trading experience and was created with novice traders in mind.
With low minimum deposit requirements and simplified features, the Mini Account enables novice traders to test the waters and learn the procedures without being overwhelmed by complexity.
It is an excellent starting point for those who wish to acquire valuable trading experience and gradually increase their financial market skills and confidence.
| 💰 Minimum Deposit Required | 700 KES / $5 |
| ⚖️ Contract Sizes | 10,000 |
| 🔎 Assets Available | Forex Equity Indices Precious Metals Energies Stocks Cryptocurrency GTi12 Index |
| 📈 Average Spreads | 10 points |
| 🚀 Commission Fees | None, only the spread is charged |
| 💳 Leverage Ratio | 1:1000, according to the trading volume |
| ✴️ Access To Bonuses | Yes |
| 🏛️ Minimum Trade Size | 0.01 lots |
| 🏛️ Maximum Trade Size | 200 lots |
| ⚖️ Maximum Volume Limit | 500 lots |
| 💰 Account Base Currency Options | BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
| 📊 Order Execution | Market |
| 🌐 Margin Call | 70% |
| 🌐 Stop-Out | 40% |
| ☪️ Swap-Free Days Allowance | Swaps charged on Crypto on MT4 and MT5 Forex – charged Other instruments – charged |
| ☪️ Swap-Free Account Available? | Yes, available on request |
| 📈 Limit and Stop Levels | Yes |
| 👍 Maximum Open Positions | 150 |
| 🔎 Maximum Pending Orders | 150 |
| ⚖️ Negative Balance Protection Applied? | Yes |
Standard+ Account
The Standard+ Account offered by FXGT.com is a flexible account option that meets the requirements of various traders. This account type provides a well-rounded trading experience, whether you are a beginner, intermediate, or experienced trader.
The Standard+ Account provides flexibility and dependability with its extensive features, access to various trading instruments, and favourable trading conditions.
It appeals to traders who desire a balance between simplicity and advanced functionality. It is an ideal option for those searching for a robust trading account that meets their varied requirements.
| 💰 Minimum Deposit Required | 700 KES / $5 |
| ⚖️ Contract Sizes | 100,000 |
| 🔎 Assets Available | Forex Equity Indices Precious Metals Energies Stocks Cryptocurrency GTi12 Index |
| 📈 Average Spreads | 10 points |
| 🚀 Commission Fees | None, only the spread is charged |
| 💳 Leverage Ratio | 1:1000, according to the trading volume |
| ✴️ Access To Bonuses | Yes |
| 🏛️ Minimum Trade Size | 0.01 lots |
| 🏛️ Maximum Trade Size | 100 lots |
| ⚖️ Maximum Volume Limit | 200 lots |
| 💰 Account Base Currency Options | BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
| 📊 Order Execution | Market |
| 🌐 Margin Call | 70% |
| 🌐 Stop-Out | 40% |
| ☪️ Swap-Free Days Allowance | Swaps charged on Crypto on MT4 and MT5 Forex – charged Other instruments – charged |
| ☪️ Swap-Free Account Available? | Yes, available on request |
| 📈 Limit and Stop Levels | Yes |
| 👍 Maximum Open Positions | 100 |
| 🔎 Maximum Pending Orders | 100 |
| ⚖️ Negative Balance Protection Applied? | Yes |
Pro Account
FXGT.com’s Pro Account is designed for traders with extensive experience who require advanced trading tools. This account category is designed for professional traders and offers enhanced tools, sophisticated trading options, and greater customisation.
With access to various instruments and sophisticated trading platforms, the Pro Account enables experienced traders to implement their strategies and capitalise on market opportunities effectively.
It provides the tools and support required to execute sophisticated trading techniques and manage larger trade volumes, catering to the requirements of precision-oriented professionals.
| 💰 Minimum Deposit Required | 700 KES / $5 |
| ⚖️ Contract Sizes | 100,000 |
| 🔎 Assets Available | Forex Equity Indices Precious Metals Energies Stocks Cryptocurrency GTi12 Index |
| 📈 Average Spreads | 5 points |
| 🚀 Commission Fees | None, only the spread is charged |
| 💳 Leverage Ratio | 1:1000, according to the trading volume |
| ✴️ Access To Bonuses | No |
| 🏛️ Minimum Trade Size | 0.01 lots |
| 🏛️ Maximum Trade Size | 200 lots |
| ⚖️ Maximum Volume Limit | 200 lots |
| 💰 Account Base Currency Options | BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
| 📊 Order Execution | Market |
| 🌐 Margin Call | 50% |
| 🌐 Stop-Out | 20% |
| ☪️ Swap-Free Days Allowance | Swaps charged on Crypto on MT4 and MT5 Forex – charged Other instruments – charged |
| ☪️ Swap-Free Account Available? | Yes, available on request |
| 📈 Limit and Stop Levels | Yes |
| 👍 Maximum Open Positions | 200 |
| 🔎 Maximum Pending Orders | 200 |
| ⚖️ Negative Balance Protection Applied? | Yes |
ECN Account
The ECN Account provided by FXGT.com is designed specifically for traders who place a premium on narrow and raw spreads. This form of account is designed for those who engage in high-frequency trading strategies, such as scalping, day trading, and algorithmic trading.
With direct market access via Electronic Communication Networks (ECNs), the ECN Account provides lightning-fast execution and enables traders to capitalise on rapid price fluctuations.
This account type guarantees cost-effective trading for traders who require precision and swift order execution by providing the tightest spreads available.
| 💰 Minimum Deposit Required | 700 KES / $5 |
| ⚖️ Contract Sizes | 100,000 |
| 🔎 Assets Available | Forex Equity Indices Precious Metals Energies Stocks Cryptocurrency GTi12 Index |
| 📈 Average Spreads | 0.0 pips |
| 🚀 Commission Fees | Up to $6 round turn on all Forex Up to $5 round turn on Precious Metals 0.1% round turn on cryptocurrency assets |
| 💳 Leverage Ratio | 1:1000, according to the trading volume |
| ✴️ Access To Bonuses | No |
| 🏛️ Minimum Trade Size | 0.01 lots |
| 🏛️ Maximum Trade Size | 200 lots |
| ⚖️ Maximum Volume Limit | 200 lots |
| 💰 Account Base Currency Options | BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
| 📊 Order Execution | Market |
| 🌐 Margin Call | 70% |
| 🌐 Stop-Out | 40% |
| ☪️ Swap-Free Days Allowance | Swaps charged on Crypto on MT4 and MT5 Forex – charged Other instruments – charged |
| ☪️ Swap-Free Account Available? | Yes, available on request |
| 📈 Limit and Stop Levels | Yes |
| 👍 Maximum Open Positions | 200 |
| 🔎 Maximum Pending Orders | 200 |
| ⚖️ Negative Balance Protection Applied? | Yes |
FXGT.com Demo Account
The FXGT.com Demo Account is useful for traders seeking practical experience and exploring the trading world in a risk-free setting. It provides many features and benefits that replicate the actual trading experience.
With access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, traders can improve their trading abilities by utilising real-time prices, market volatility, charts, news, and analysis.
Traders can use the demo account to familiarise themselves with the MT4 and MT5 platforms, renowned for their comprehensive trading tools and features.
These platforms provide various technical indicators, customisable charts, and sophisticated order execution capabilities, allowing traders to analyse markets, execute trades, and manage positions effectively.
The availability of real-time prices and market volatility is one of the major advantages of the FXGT.com Demo Account.
Traders can observe and analyse market movements, evaluate various trading strategies, and make well-informed decisions based on current market conditions. This presents an excellent opportunity to obtain market insights and refine trading strategies.
In addition, the demo account enables traders to access statistics and news updates and conduct market analysis utilising the vast resources offered by the MT4 and MT5 platforms.
Kenyan traders must note that the FXGT.com Demo Account expires after 30 days. Traders have ample time to practice and hone their abilities during this period, but the account will terminate automatically after 30 days.
FXGT.com Islamic Account
The FXGT.com Islamic Account caters to the specific needs of traders who follow Islamic principles and seek to trade per Shariah law.
This account type is available across all account types, providing flexibility for Islamic traders to choose the account that best suits their trading preferences.
With the FXGT.com Islamic Account, traders can engage in swap-free trading, which aligns with Islamic finance principles by eliminating interest (Riba) from trades. This means that traders can participate in various financial markets without incurring swap charges or engaging in interest-related transactions.
Whether traders opt for the Pro Account or the ECN Account, they can benefit from FXGT.com’s Swap-Free options according to the financial instrument being traded. Here are the additional features available:
- On the Pro Account
- Crypto: Swap-Free on MT5
- Equity Indices: Swap-Free for 6 days
- XAUUSD: Swap-Free for 6 days
- Forex Pairs: Swap-Free for 6 days
- Other Instruments: Swap-Free for 6 days
- On the ECN Account:
- Crypto: Swap-Free on MT5
- Equity Indices: Swap-Free for 3 days
- XAUUSD: Swap-Free for 3 days
These features enable Islamic traders to engage in swap-free trading across various asset classes, including cryptocurrencies, equity indices, XAUUSD (gold), FX pairs, and other instruments, depending on the chosen account type.
FXGT.com Professional Account
FXGT.com does not offer an additional or alternative Professional Account for Kenyans.
FXGT.com Base Account Currencies
FXGT.com offers the following base account currencies across trading accounts:
- BTC
- ETH
- USDT
- ADA
- XRP
- EUR
- USD
- ZAR
FXGT.com Basic Order Types
FXGT.com’s basic order types are as follows:
- Market Orders
- Pending Orders
- Take Profit
- Stop-Loss Orders
Market Orders
A Market Order is a request to buy or sell a Contract for Difference (CFD) at the prevailing market price as promptly as possible, opening a trade position. CFDs are purchased at the ASK price and sold at the BID price.
Furthermore, with FXGT.com, Market Orders are available for all accounts. In addition, Market Orders can be accompanied by Stop Loss and Take Profit Orders.
Pending Orders
Pending Orders are requests to buy or sell a CFD at a pre-defined price in the future once a certain price is reached. FXGT.com offers four Pending Orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.
These orders are executed when the price reaches the specified level. However, executing at the requested price may be impossible under certain trading conditions. In such cases, FXGT.com has the right to execute the order at the first available price.
Stop Loss and Take Profit Orders can be attached to a Pending Order and are valid until cancelled. In addition, Pending Orders are available for all accounts with FXGT.com.
Take Profit
Take Profit Orders are intended to secure profit when the price of a CFD reaches a specific level. The execution of this order results in the complete closure of the entire position and is always connected to an open, market, or pending order.
In addition, the FXGT.com platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Take Profit Order have been met.
Stop-Loss Orders
Stop-Loss Orders are used to minimise losses if the price of a CFD begins to move in an unprofitable direction. If the price of the CFD reaches the Stop-Loss level, the entire position will be automatically closed.
Stop-Loss Orders are always connected to an open, market, or pending order. The FXGT.com platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Stop-Loss Order have been met.
FXGT.com – Slippage and Requote Policy
FXGT.com offers market execution on trades.
Market execution, as opposed to instant execution, is designed to avoid requotes. With market execution, the order will be filled at the best available price, which could differ from the price you see when you place the order (i.e., you could experience slippage).
This is because market execution orders prioritise order execution over price, ensuring that the order gets filled even during periods of high volatility.
Pros and Cons FXGT.com Account Types and Features
| ✔️ PROS | ❌ CONS |
| FXGT.com offers four flexible account types according to the trading needs and objectives of traders | The Demo Account expires after 30 days |
| Swap-free trading is available on the Pro and ECN account | |
| All account types can be converted into an Islamic Account | |
| There is a free demo account offered | |
| Traders can choose freely between MT4 and MT5 as their trading platform |
How to open an Account with FXGT.com
To register an account with FXGT.com, Kenyan traders can follow these easy steps:
Step 1 – Go to the FXGT.com website
Visit the official FXGT.com website.
Step 2 – Click on the register button
Register on the Client Portal by following the provided instructions.
Step 3 – Complete the form
Complete the application form, including personal information, trade details, and income source.
How to close My Account with FXGT.com
To close a live trading account with FXGT.com, Kenyan traders can follow these steps:
- The initial stage is to withdraw any available funds from your trading account. Typically, this is possible from the account interface on the broker’s website or trading platform.
- Contact FXGT.com’s customer service after you have withdrawn your funds. Typically, this can be accomplished via email, phone, or live conversation. Ensure that your communication conveys your intent to close your account.
- A customer service representative will instruct you on how to close your account. Depending on the broker, these instructions may entail filling out a form or submitting a formal request.
- After following the instructions, you should receive confirmation that your account has been closed. If you do not receive this confirmation within a reasonable time, contact the broker’s customer service department to confirm.
- Throughout this procedure, you are required to record all interactions with the broker. This includes retaining copies of any forms you complete, noting the names of any customer service representatives with whom you speak, and keeping any emails or other communications on the termination of your account.
FXGT.com MAM / PAMM Features
FXGT.com does not currently provide any MAM or PAMM solutions.
Social Trading with FXGT.com
FXGT.com does not currently offer social trading.
FXGT.com vs BDSwiss Vs eToro – Broker Comparison
| FXGT.com | BDSwiss | eToro | |
| ⚖️ Regulation | FSCA, CySEC, VFSA, FSA | CySEC, FSC, BaFIN, FSA | CySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 | • MetaTrader 4 • MetaTrader 5 • BDSwiss Mobile • BDSwiss Web | • eToro proprietary platform |
| 💰 Withdrawal Fee | No | Yes, <100 EUR withdrawals | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 700 KES | 11,300 KES | 22,900 KES |
| 📈 Leverage | 1:1000 | Up to 1:1000 | 1:30 (Retail) 1:400 (Professional |
| 📊 Spread | From 0.0 pips | From 0.3 pips | From 1 pip |
| 💰 Commissions | $6 on Forex $5 on Precious Metals 0.1% on Crypto Assets | $2 to $5 | None |
| ✴️ Margin Call/Stop-Out | 50% – 70% (M) 20% – 40% (SO) | 50%/20% | None indicated |
| ✴️ Order Execution | Market | Instant/Market | Market/Instant |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | Yes, Mini | In Progress | No |
| 📈 Account Types | Mini Account Standard+ Account Pro Account ECN Account | • Classic Account • Premium Account • VIP Account • RAW Account | • Retail Account • Professional Account |
| ⚖️ CMA Regulation | No | No | No |
| 💳 KES Deposits | No | No | No |
| 📊 Kenyan shilling Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/6 |
| 📊 Retail Investor Accounts | 4 | 4 | 1 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Overall Rating
- 4.7/5
Min Deposit
USD 5 / 428 KES
Regulators
SFSA, FSCA, CySec*
Trading Desk
MetaTrader 5
Crypto
Yes
*FXGT.com has a CySec license, but it is only valid for institutional clients.
Total Pairs
18
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXGT.com Trading Platforms
FXGT.com provides traders access to two powerful trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned in the industry for their advanced features, user-friendly interfaces, and extensive trading capabilities.
MetaTrader 4 (MT4)
MT4 is a widely recognised trading platform primarily designed for forex markets. It offers a range of features that cater to the needs of both novice and experienced traders. Key highlights of MT4 include, but are not limited to, the following:
- Forex Market Focus: MT4 is known for its robust functionality in forex trading, providing real-time access to market prices, liquidity, and execution speed. It offers a wide range of currency pairs, allowing traders to explore global forex markets.
- Customisable Interface: Traders using MT4 on FXGT.com can personalise their trading experience by customising charts, indicators, and expert advisors according to their trading strategies and preferences. This flexibility enhances the trading environment and optimises efficiency.
- Automated Trading Capabilities: MT4 supports automated trading through its Expert Advisors (EAs) feature. Traders can develop and implement their trading strategies or choose from a wide selection of pre-programmed EAs. These automated systems can execute trades based on predefined rules and parameters, offering convenience and efficiency.
MetaTrader 5 (MT5)
FXGT.com also offers the MetaTrader 5 (MT5) platform, which provides an enhanced trading experience with a broader range of asset classes and advanced features. Key highlights of MT5 include:
- Multi-Asset Trading: MT5 is a multi-asset platform that allows traders to access and trade various financial instruments, including Forex, stocks, equity indices, precious metals, and energies. This versatility enables diversification and the exploration of different markets within a single platform.
- Advanced Analysis Tools: MT5 has a comprehensive set of built-in indicators, analytical tools, and graphical objects. These tools assist traders in conducting in-depth technical analysis, identifying market trends, and making informed trading decisions.
- Accessibility and Compatibility: MT5 is available on multiple devices, including desktop, web, Android, and iPhone. Traders can access their accounts and trade anytime, providing flexibility and convenience.
Overall, both MT4 and MT5 platforms offered by FXGT.com are renowned for their reliability, speed, and extensive functionality.
Furthermore, in our experience, Kenyan traders can choose the platform that best suits their trading preferences, whether focused on forex markets (MT4) or seeking a broader range of asset classes (MT5).
Pros and Cons FXGT.com Trading Platforms
| ✔️ PROS | ❌ CONS |
| FXGT.com offers both MetaTrader 4 and 5 | The functionality on MT4 and MT5 mobile is not the same as on Web or Desktop |
| Traders can choose freely between these platforms on four flexible accounts | FXGT.com does not have a proprietary trading platform |
| Kenyan traders have the best mobile apps from MT4 and MT5 on iOS and Android | |
| The MT4 and MT5 platforms offer perfect account integration across devices |
FXGT.com Investment Programs
FXGT.com does not provide additional investment programs.
Which Markets Can You Trade with FXGT.com?
Kenyan traders can expect the following range of markets from FXGT.com:
- Forex
- Cryptocurrencies
- Synthetic Cryptocurrencies
- Precious Metals
- Energies
- Indices
- Stocks
- DeFi Tokens
- NFTs
Financial Instruments and Leverage offered by FXGT.com
| 📊 Instrument | 📈 Number of Assets Offered | ✴️ Max Leverage Offered |
| Forex | 41 | Majors – 1:20 to 1:500 Minors – 1:20 to 1:500 Exotics – 1:20 to 1:50 |
| Cryptocurrencies | 24 | 1:50 – 1:500 |
| Synthetic Cryptocurrencies | 9 | 1:50 |
| Precious Metals | 3 | 1:1000 |
| Energies | 3 | 1:100 |
| Indices | 11 | 1:500 |
| Stocks | 50 | 1:50 |
| DeFi Tokens | 9 | 1:50 |
| NFTs | 5 | 1:50 |
Pros and Cons FXGT.com Range of Markets
| ✔️ PROS | ❌ CONS |
| FXGT.com offers a decent portfolio of instruments and a good variety of markets | The instrument and market distribution are not equal across account types |
| Traders can trade using leverage up to 1:1000 according to their trading volume | |
| FXGT.com is one of few brokers that offer DeFi tokens, synthetic crypto, and NFTs |
Overall Rating
- 4.7/5
Min Deposit
USD 5 / 428 KES
Regulators
SFSA, FSCA, CySec*
Trading Desk
MetaTrader 5
Crypto
Yes
*FXGT.com has a CySec license, but it is only valid for institutional clients.
Total Pairs
18
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
FXGT.com Trading and Non-Trading Fees
Spreads
FXGT.com has variable spreads according to the trading account, the market being traded, and the market conditions. The typical spreads that Kenyans can expect are as follows:
| Instrument | Mini | Standard+ | Pro | ECN |
| EUR/USD | 0.00025 pips | 0.00015 pips | 0.00003 pips | – |
| BTC/USD | 26 pips | – | 10.18 pips | 3.17 pips |
| BTC/APL (Apple) | – | 1 pip | 1 pip | 1 pip |
| XAU/USD | 0.2 pips | 0.2 pips | 0.1 pips | 0.15 pips |
| XAG/USD | 0.04 pips | 0.03 pips | 0.03 pips | 0.03 pips |
| US Oil | 0.19 pips | 0.07 pips | 0.04 pips | 0.03 pips |
| NGAS | 0.05 pips | 0.05 pips | 0.02 pips | 0.04 pips |
| NAS100 | 1.58 pips | 1.36 pips | 2.22 pips | 0.0 pips |
| Apple, Inc. | 1.2 pips | 1.2 pips | 1.2 pips | 1.2 pips |
| DeFi – LNK/USD | – | – | 0.0098 pips | – |
| NFTs – THT/USD | – | – | 0.006 pips | – |
Commissions
Commissions are only charged on the ECN Account as follows:
- Up to $6 round-turn on all forex pairs.
- Up to $5 on all Precious Metals.
- 0.1% on all cryptocurrency assets.
Overnight Fees, Rollovers, or Swaps
Overnight or rollover fees or swaps are charges or credits applied to open positions held overnight in the financial markets.
These fees are incurred when a trader extends their position beyond the end of the trading day, and they can impact the overall profitability of the trade.
Deposit and Withdrawal Fees
FXGT.com does not charge any deposit or withdrawal fees.
Inactivity Fees
After 90 days of inactivity, an inactive trading account will incur a $10 inactivity fee. This monthly fee is assessed until the account balance reaches $0.
Currency Conversion Fees
Currency conversion fees could apply for deposits and withdrawals in KES.
Pros and Cons FXGT.com Trading and Non-Trading Fees
| ✔️ PROS | ❌ CONS |
| Traders can expect competitive trading conditions with FXGT.com | Currency conversion and inactivity fees are charged |
| The ECN Account has zero-pip spreads | |
| There are competitively low commission fees | |
| FXGT.com has a transparent fee schedule | |
| Deposit and withdrawal fees do not apply |
FXGT.com Deposits and Withdrawals
FXGT.com offers Kenyan traders the following deposit and withdrawal methods:
- Debit/Credit Cards
- Cryptocurrencies
- SticPay
- Neteller
- Skrill
- Naira Online
- Perfect Money
- Local Bank Transfer
- ZotaPay
- FasaPay
- Bank Wire Transfer
- Binance Pay
Broker Comparison: Deposit and Withdrawals
| FXGT.com | FOREX.com | Markets.com | |
| 💰 Minimum Withdrawal Time | Yes | Instant | 24 hours |
| 💵 Maximum Estimated Withdrawal Time | 1 – 2 Business Days | Between 1 to 2 working days | 7 working days |
| 💸 Instant Deposits and Instant Withdrawals? | Yes, Both | Yes | Yes, Deposits |
FXGT.com Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc.
| 💵 Payment Method | 💰 Deposit Currencies | 💰 Deposit Processing | 💸 Withdrawal Processing | 📈 Min Withdrawal |
| Debit Card | USD, EUR, ZAR | Instant | 2 to 5 working days | 10 USD 10 EUR 200 ZAR |
| Credit Card | USD, EUR, ZAR | Instant | 2 to 5 working days | 10 USD 10 EUR 200 ZAR |
| Cryptocurrencies | BTC, ETH, XRP, ADA, USDT ERC20, USDT TRC20 | 1 to 30 minutes | Within 48 hours | 0.0001 BTC 0.05 ETH 25 XRP 0.0001 ADA 25 USDT ERC20 25 USDT TR20 |
| Sticpay | EUR, USD | Instant | Within 48 hours | 10 EUR 10 USD |
| Neteller | EUR, USD, ZAR | Instant | Instant | 5 EUR 5 USD 85 ZAR |
| Skrill | USD, ZAR | Instant | Instant | 5 USD 85 ZAR |
| Online Naira | EUR, USD | Instant | Instant | 5 EUR 5 USD |
| Perfect Money | EUR, USD | Instant | Instant | 50 EUR 50 USD |
| Local Banks | EUR, USD, ZAR, NAD | Instant | 1 to 2 working days | 10 EUR 10 USD 100 ZAR 100 NAD |
| ZotaPay | USD | Instant | Instant | 5 USD |
| FasaPay | USD | Instant | Instant | 10 USD |
| Bank Wire Transfer | ZAR | 2 to 5 working days | 2 to 5 working days | 100 ZAR |
| Binance Pay | USDT | Instant | Instant | 25 USDT |
Pros and Cons FXGT.com Deposits and Withdrawals
| ✔️ PROS | ❌ CONS |
| FXGT.com offers several flexible deposit and withdrawal methods | KES is not an accepted deposit or withdrawal currency |
| There are several deposit and withdrawal currencies to choose from | There are no local payment methods for Kenyans |
| FXGT.com supports cryptocurrency deposits and withdrawals | |
| There are no fees charged on deposits or withdrawals | |
| Instant deposits and withdrawals are available |
How to Deposit Funds with FXGT.com
To deposit funds to an account with FXGT.com, Kenyan traders can follow these steps:
Step 1 – Log into your FXGT account.
Log into your trading account on the FXGT.com website. Create an account by completing the registration procedure if you are a new user.
Step 2 – Navigate to the deposit section.
Once logged in, navigate to your account’s “Deposit” section, which is typically accessible from the primary menu or dashboard.
Step 3 – Choose a deposit method.
FXGT.com accepts deposits via bank wire transfer, credit/debit cards, and electronic payment systems such as Skrill and Neteller. Choose the method that best suits your needs. Specify the deposit quantity, considering any minimum or maximum requirements imposed by FXGT.com.
Step 4 – Provide your information.
Depending on the selected deposit mechanism, provide the required information, such as bank account or card information. Follow the directions precisely. Verify the integrity of the entered information, including the deposit amount and payment details. Once content, submit the request for a deposit. FXGT.com will promptly execute the transaction and credit the funds to your trading account.
How long do FXGT.com Deposits take?
FXGT.com deposits can be instant or take a few days, depending on the method used.
FXGT.com Fund Withdrawal Process
To withdraw funds from an account with FXGT.com, Kenyan traders can follow these steps:
Step 1 – Log into your FXGT account.
Start by navigating to FXGT.com and logging into your trading account using your login credentials.
Step 2 – Navigate to the Withdrawal section.
After logging in, navigate to your account’s interface’s “Withdrawal” section.
Step 3 – Choose a Withdrawal method.
FXGT.com provides a variety of withdrawal options to suit your preferences. These options include bank wire transfers, electronic payment systems, and additional methods. Choose the approach that meets your needs and preferences. Specify the amount that you wish to withdraw from your trading account. Ensure the withdrawal amount meets any minimum FXGT.com requirements.
Step 4 – Provide your information.
Depending on the withdrawal method selected, you may be required to provide additional details to facilitate the transaction. Take a moment to review and confirm the withdrawal details, including the withdrawal amount and the accuracy of the information provided. Before moving forward, ensuring that all the information is accurate is essential. Submit your withdrawal request. FXGT.com will process your request per policies and procedures promptly.
How long do FXGT.com Withdrawals take?
FXGT.com withdrawals can be instant or take a few days, depending on the method used.
FXGT.com Education and Research
Education
FXGT.com offers the following Educational Materials to Kenyan traders:
- eBooks
- Glossary
Research and Trading Tool Comparison
| FXGT.com | FOREX.com | Markets.com | |
| 📊 Economic Calendar | Yes | Yes | No |
| 🤝 VPS | No | Yes | No |
| 🛑 AutoChartist | No | Yes | No |
| 📈 Trading View | No | Yes | Yes |
| 📱 Trading Central | No | Yes | No |
| 💰 Market Analysis | Yes | Yes | Yes |
| 📚 News Feed | Yes | Yes | Yes |
| 👥 Blog | Yes | Yes | Yes |
FXGT.com also offers Kenyan traders the following additional Research and Trading Tools:
- MQL5 Trading Signals
- Trader Insights
- Economic Calendar
- Holiday Calendar
- GTLots
Pros and Cons FXGT.com Education and Research
| ✔️ PROS | ❌ CONS |
| FXGT.com offers eBooks and a comprehensive glossary | FXGT.com has limited educational materials |
| There is a FAQ section on the site | |
| FXGT.com offers 24/7 customer support | |
| FXGT.com offers trading signals via MT5 | |
| There is a proprietary economic calendar |
FXGT.com Bonuses and Promotions
FXGT.com offers various bonuses and promotions to enhance the trading experience for its clients. Here is an overview of some of the bonuses and promotions available.
25% Loyalty Bonus
FXGT.com rewards loyalty by offering a bonus of up to $10,000. Moreover, clients can receive a 25% bonus on all transfer-ins, with a total bonus limit of $10,000.
Loyalty Reset Bonus
Clients who reach the Loyalty Bonus limit will have their bonus reset back to zero by accomplishing the following:
- Meeting specific criteria such as being active traders.
- Exhausting the Loyalty Bonus limit.
- Completing a cumulative trading volume of 40 GTLots
- Making cumulative deposits of $10,000.
VPS Sponsorship Program
FXGT.com offers a VPS Sponsorship Program that provides clients access to high-speed servers for uninterrupted trading.
By maintaining a minimum trading account equity of $3,000 and a minimum monthly trading volume of 5 GTLots, clients can register for the VPS Sponsorship Program and enjoy benefits such as lightning-fast trade execution and reduced order execution latencies.
How to open an Affiliate Account with FXGT.com
To register an Affiliate Account, Kenyans can follow these steps:
Step 1 – Go to FXGT.com homepage.
Navigate to the FXGT.com homepage. Look for a section or link labelled “Partners.”
Step 2 – Click on the affiliate link
Click on the affiliate link, which should take you to a registration page.
Step 3 – Fill out the form.
Complete a form with your personal information, including your name, email address, and details about your website or marketing strategy. Review and accept the terms and conditions of the affiliate program.
FXGT.com Affiliate Program Features
The FXGT.com Affiliate Program offers a range of features and benefits for partners who collaborate with FXGT.com. Here’s an overview of the key features:
- Multi-Tier Commission Plan: FXGT.com partners can enjoy unlimited commissions through the program’s incentivised tiered commission structure. The more clients trade, the more commission partners can earn. The program offers different commission tiers based on performance, with partners having the opportunity to earn up to $12 per lot on the trades of referred clients.
- Flexibility & Customisation: FXGT.com is committed to investing in the success of its partners. The program provides tailored initiatives and customised solutions to meet partners’ needs, fostering solid and long-lasting partnerships.
- Marketing Material & Tools: Partners gain access to a wide range of marketing materials, banners, and personalised promotions. These resources are designed to enhance conversion rates and empower partners’ businesses, boosting their potential for success.
- Fast Pay-outs: FXGT.com prioritises timely and efficient payments for its partners. Withdrawal requests are processed swiftly, ensuring partners receive their commissions daily. Partners also have the flexibility to request commission withdrawals in Fiat or Crypto, providing added convenience.
- Dedicated Affiliate Managers: The program supports dedicated Affiliate Managers with extensive industry experience. These professionals understand how to guide partners in maximising their businesses’ profitability and success, providing valuable expertise and assistance.
- 24/7 Support: FXGT.com values effective communication and provides round-the-clock assistance to its partners. The program’s multilingual team is available via email and live chat, offering prompt support in partners’ preferred languages.
For clients referred through the Affiliate Program, FXGT.com offers a range of attractive features. These features include the following:
- Zero swaps on cryptocurrencies, gold, and indices.
- Fee-free deposits and withdrawals.
- Competitive trading spreads starting from 0 pips.
- A low minimum funding requirement of $5 across all account types.
- Dynamic leverage of up to 1:1000.
- Access to 24/7 multilingual local support.
FXGT.com Customer Support
| Customer Support | FXGT.com Customer Support |
| ⏰ Operating Hours | 24/7 |
| 📚 Support Languages | Multilingual |
| 👥 Live Chat | Yes |
| 📱 Email Address | [email protected] |
| 📞 Telephonic Support | Yes |
| ✅ The overall quality of FXGT.com Support | 5/5 |
Pros and Cons FXGT.com Customer Support
| ✔️ PROS | ❌ CONS |
| Customer support responds on the live chat option within a few minutes | There is no local customer support offered in Nairobi |
| Customer support is prompt with replies and very informative | Email support can be slow at times due to the volume of requests that FXGT receives |
| Traders can access customer support 24/7 | |
| There are several communication channels to contact FXGT.com’s support | |
| There is a comprehensive FAQ section on the website |
FXGT.com Corporate Social Responsibility
FXGT.com does not provide any information regarding its CSR initiatives or projects.
Additional Features of FXGT.com
Financial Reports
FXGT.com does not currently publish its financial reports.
FXGT.com Future Vision
FXGT.com does not currently publish its objectives for 2023 onwards.
FXGT.com Risk Warning and Disclaimer for Traders
Trading on financial markets is risky and may not be suitable for all investors. Volatility and leverage can result in substantial financial losses. Before engaging in trading activities, investors should carefully consider their investment objectives, experience level, and risk tolerance.
FXGT.com provides educational and informational resources but cannot guarantee the content’s accuracy or exhaustiveness.
None of the provided opinions, analyses, or other information should be construed as financial advice. If necessary, traders should seek independent advice. FXGT.com disclaims any responsibility for losses incurred due to trading decisions based on the provided information.
FXGT.com VPS Review
FXGT.com offers a VPS (Virtual Private Server) for traders, providing numerous benefits, including the following:
- Traders can enjoy uninterrupted trading on a safe and secure server that guarantees connectivity and operates smoothly with other operating systems.
- Lightning-fast trade execution speeds help minimise order execution latencies to near-zero, ensuring optimal trading performance.
- The free VPS operates 24/7 in the background, allowing traders to keep their EAs running even when their PC is turned off.
- The VPS fully integrates into the MT4/MT5 terminal, providing seamless access and convenience.
- Traders can access the VPS for free by meeting the minimum initial account equity requirement and maintaining a minimum monthly trading volume.
- VPS specs include 3 GB RAM / 1 vCPU and 16 GB disk space.
- The VPS sponsorship is available for all account types.
FXGT.com Trading Signals
FXGT.com offers traders access to the MQL5 Signals service, which provides a valuable resource for accessing trading strategies through trading signals.
This service allows traders to benefit from the expertise of experienced signal providers who share their trading signals for a fee. By subscribing to these signals, traders can automatically copy and execute the trades on their Live MT5 trading accounts.
One of the advantages of subscribing to MQL5 Signals is its simplicity and readiness as a trading tool. Traders can easily find and select signal providers based on their preferred trading strategies and track records.
Once subscribed, the signals are automatically copied and executed, eliminating the need for manual monitoring and trade execution. This streamlined process allows traders to focus on other aspects of their trading strategy or portfolio management.
The MQL5 Signals service ensures a secure and transparent trading environment. Traders can evaluate the performance of signal providers based on historical data and statistics provided within the platform.
This transparency enables traders to make informed decisions when choosing which signals to subscribe to, increasing the likelihood of finding strategies that align with their trading goals.
Subscribing to MQL5 Signals is also hassle-free. Traders can easily manage their subscriptions, including the ability to subscribe and cancel signals easily.
No commissions or hidden fees are associated with subscribing to these signals, providing a straightforward and cost-effective solution for traders seeking additional trading opportunities.
Furthermore, the MQL5 Signals service is integrated into the MT5 Platform, eliminating the need for additional installations or third-party software. Traders can access a wide range of trading signals directly within the platform, making it convenient and accessible for users.
Additionally, traders can benefit from the ultra-low latency in signal execution provided by MQL5 Signals. This ensures that trades are executed promptly and efficiently, reducing the risk of slippage and maximising the potential for profitability.
FXGT.com Cashback Rebates Features and Conditions
Please note that the FXGT.com Cashback bonus is not currently running. However, we can provide information about this bonus for your reference.
The Cashback Promo was a limited-time offer to FXGT.com clients with a Standard+ trading account who met the qualifying criteria. It allowed traders to receive cashback on an ongoing basis for as long as the promotion was active.
One of the advantages of the Cashback bonus was that the cashback received was withdrawable. This meant that traders could use the cashback as part of their trading profits or withdraw it from their trading accounts.
The cashback amount would be reflected in the trader’s trading account whenever a position was closed. Traders could easily track the cashback received by checking their ‘Transaction History,’ where the credited cashback would be recorded.
FXGT.com Web Traffic Report
| 🏛 Global Rank | 3,265 |
| ⚖️ Country Rank | 249 (Japan) |
| 📊 Category Rank | 4 (Finance, Investing) |
| 👥 Total Visits | 12.1 million |
| 📈 Bounce Rate | 42.41% |
| 📱 Pages per Visit | 7.70 |
| ⏰ Average Duration of Visit | 00:00:33 |
| 📚 Total Visits in the last three months | March – 5m April – 4.6m May – 12.1m |
Our Final Verdict on FXGT.com
Based on our research, FXGT.com is a competitive forex broker with various advantages. It offers a low minimum deposit, comprehensive trading platforms (MT4 and MT5), and an extensive selection of trading instruments.
In our experience, zero trading fees (except for bank wire), high leverage, and safety measures such as segregated funds and negative balance protection are noteworthy. However, it is important to remember that higher leverage also comes with greater risk.
Additionally, we found the information on their website lacking in some areas, which may make it challenging for beginners to navigate. Therefore, we advise Kenyans to thoroughly understand the broker’s terms and conditions before starting to trade.
FXGT.com Alternatives
- NinjaTrader – Since its inception in 2003, the forex, futures, and options trading platform NinjaTrader has become widely recognized as a leading industry tool. Its comprehensive array of advanced features and cutting-edge technology caters to the requirements of active and experienced traders. NinjaTrader provides traders seeking advanced trading capabilities with a robust platform with powerful charting tools, automated strategy development, market analytics, backtesting, and trade simulation.
- GO Markets is a multi-regulated CFD broker with a stellar reputation for offering clients exceptional trading conditions at competitive prices. Particularly commendable is the broker’s performance in the Research and Deposits categories.
- easyMarkets has developed a solid reputation for dependability and a favourable trading environment. easyMarkets has received numerous awards and accolades from clients and industry professionals. easyMarkets utilizes its nearly two decades of experience to optimize trading conditions by offering three types of trading accounts suited to individual requirements.
Latest Existing/Previous Customer Comments on FXGT.com for 2022/3
- Wanja Peterson (November 2022) “Since I started utilising Global GT as my broker last year, I have encountered no complications with withdrawals or deposits. The entire process is completed within a few days, and the availability of live support ensures immediate assistance with any account-related concerns.”
- Mwangi Davis (August 2022) “Without exaggeration, Global GT is a commendable broker. It is a rarity to caress a brokerage offering a deposit bonus without the credit being revoked in case of initial deposit loss.”
- Nyambura Williams (March 2022) “Overall, my satisfaction with Global GT as my broker remains unwavering. Their prompt responsiveness sets them apart in this industry. However, I want to address a card verification process concern. In my case, it was not a seamless experience as my bank card displays only my surname and initials, whereas Global GT informed me via chats and emails that they require a card bearing full names.”
Recommendations according to our in-depth review of FXGT.com
Based on our review, there are a few areas in which FXGT.com could potentially improve:
- Educational Materials: Brokers must provide comprehensive educational resources for traders, especially beginners. FXGT.com could benefit from expanding its educational content, perhaps by offering webinars, e-books, and more detailed guides on forex trading and its specific platforms.
- Local Payment Methods and Currencies: Whether FXGT.com supports Kenyan Shilling (KES) deposits or local payment methods is unclear. They could attract more traders by expanding their supported currencies and adding popular local payment methods.
- Instrument Distribution Across Trading Accounts: Traders typically appreciate flexibility in choosing their trade instruments. If certain instruments are currently limited to specific account types, FXGT.com might consider making them available across all account types, allowing traders to diversify their portfolios more easily.
- Risk Management Tools: While FXGT.com does offer some risk management features, such as negative balance protection, they could further enhance their offerings. This could include more advanced tools, like guaranteed stop-loss orders or real-time risk statistics, which could help traders better manage their risk exposure.
Frequently Asked Questions
What is the minimum deposit for FXGT.com?
The minimum deposit for FXGT.com is $5.
What measures does FXGT.com take to ensure the security of funds?
FXGT.com keeps client funds separate from its operational funds, uses advanced encryption technology and secure servers, provides negative balance protection, and maintains a high capital adequacy ratio. It is also fully regulated and offers liability insurance.
Is FXGT.com regulated?
Yes, FXGT.com is regulated by multiple financial authorities, including FSCA (Tier-2), CySEC (Tier-2), VFSC (Tier-3), and FSA (Tier-3).
Does FXGT.com charge deposit or withdrawal fees?
FXGT.com does not charge any deposit or withdrawal fees.
How long does it take to withdraw from FXGT.com?
Withdrawal times from FXGT.com can be instantaneous but may take a few days, depending on the payment method.
Most withdrawals are instant if the proper documentation is adhered to. Still, Credit Card and Bank Wire withdrawals will only be processed within banking working hours from Monday to Friday between 09:00 – 17:00 GMT.
What leverage does FXGT.com offer?
FXGT.com allows a maximum leverage ratio of 1:1000.
Does FXGT.com have Nasdaq 100?
Yes, FXGT.com offers trading on the NASDAQ 100, providing CFDs on indices across all account types.
What trading platform does FXGT.com use?
FXGT.com offers MetaTrader 4 and MetaTrader 5 as its trading platforms.
What bonuses does FXGT.com offer?
FXGT.com offers a variety of bonuses, including a cashback promo (not currently running), a tiered loyalty bonus of up to $6,000, a loyalty reset bonus, and a VPS sponsorship program.
Why should I work through the SA Shares Cashback?
You can expect some of the highest commissions if you work through SA Shares to earn up to 30% Cashback Rebates from Forex Brokers such as FXGT.com.
This is because SA Shares aims to negotiate the most competitive commission rates with brokers such as FXGT.com to ensure you get the most back from your trading activities.
Does FXGT.com have VIX 75?
FXGT.com does not offer the VIX 75 index for trading. However, it does offer 11 other indices for traders to explore.
Is FXGT.com Safe or a Scam?
According to our research, FXGT.com is considered a safe broker.
They implement various security measures, including segregating client funds from their own operational funds in various Tier 1 banking institutions, advanced encryption technology, secure servers, strong firewalls, and negative balance protection.
Conclusion
Our Review Methodology
For each of our broker evaluations, we investigate, evaluate, analyse, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Now it is your turn to participate:
- Do you have any prior experience with FXGT.com?
- What was the determining factor in your decision to engage with FXGT.com?
- Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
- Have you experienced issues with FXGT.com, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk.
In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
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