FXGT.com Review
FXGT.com Review has a high customer rating of 3.8 out of 5 on review websites. They offers a well-balanced hybrid trading platform with various instruments across markets. Singaporeans can expect competitive trading conditions and dynamic leverage.
- Louis Schoeman
Updated : May 22, 2024
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Min Deposit
7 SGD / 5 USD
Regulators
FSCA, CySEC, VFSA, FSA
Trading Desk
MT4, MT5,
Crypto
Yes
Total Pairs
41
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
As we delved into the origins of FXGT.com, it’s worth noting the company’s relatively recent entry into the online trading market. FXGT.com was founded in Cyprus in 2020 and joined the market during significant technology innovation and shifting market dynamics.
As reviewers, We’ve been closely following their progress as it swiftly established itself in South Africa and Seychelles before gradually increasing its global footprint, becoming a viable option for Singaporeans.
FXGT.com has provided a welcome respite from the hectic trading environment in Singapore. The platform has exhibited a decent awareness of Singaporean traders’ specific demands.
What began as a new brokerage has quickly become popular among a flourishing local trading community, providing a unique blend of innovation, variety, and dependability suited directly to our sophisticated market needs.
One thing that drew our attention to FXGT.com was its emphasis on delivering outstanding trading conditions. The platform’s real-time spread updates and variety of trading instruments, like DeFi tokens and NFTs, aligned nicely with the expanding interests of modern traders.
Their remarkable growth can be attributed to its ability to adapt and respond to market changes.
As reviewers, we were delighted that the platform has kept ahead of the curve, particularly by adding various digital currencies to broaden trading opportunities.
Although they do not support the Singapore Dollar (SGD) as a base currency, the broker addressed it by providing a diverse range of alternatives, including popular cryptocurrencies (BTC, ETH, USDT, ADA, XRP) and popular fiat currencies (EUR, USD, ZAR).
We believe their attraction is heightened by various bonus programs and promotions, like the $30 No-Deposit Bonus for newly registered customers. Offering Singaporeans a risk-free start to their trading journey with FXGT.com, where they can withdraw profits using the bonus.
Overall, we initially thought that FXGT.com’s road to becoming a popular trading platform in Singapore has been significant.
From strategic regulatory compliance to personalized trading conditions and a customer-centric approach, FXGT.com has shown a clear growth path and commitment to providing outstanding service.
What unique trading instruments does FXGT.com offer to Singaporean traders?
FXGT.com offers diverse trading instruments including forex, cryptocurrencies, precious metals, and unique offerings like synthetic cryptocurrencies and DeFi tokens.
How does FXGT.com’s leverage compare to competitors for Singaporean traders?
FXGT.com offers high-leverage options up to 1:1000, giving Singaporean traders significant potential to amplify their trading positions.
At a Glance
🔍 Broker | 🥇 FXGT.com |
🔢Established Year | 2020 |
⌛Regulation and Licenses | FSCA, CySEC, VFSA, FSA |
4️⃣Ease of Use Rating | 4/5 |
🎁Bonuses | ✅ Yes, $30 No-Deposit Bonus, Loyalty Bonus, VPS Sponsorship Program |
⏰Support Hours | 24/7 |
📊Trading Platforms | MetaTrader 4, MetaTrader 5 |
🗂️Account Types | Mini, Standard+, Pro, ECN |
💷Base Currencies | BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
📝Spreads | From 0.0 pips |
📈Leverage | 1:1000 |
💶Currency Pairs | 41; major, minor, exotic pairs |
💵Minimum Deposit | 7 SGD / 5 USD |
💴Inactivity Fee | ✅ Yes |
🗣️Website Languages | English, Arabic, Japanese, Thai, Vietnamese, Malay, Turkish |
💸Fees and Commissions | Spreads from 0.0 pips, commissions from $6 on Forex, $5 on metals, and 0.1% on crypto |
🤝Affiliate Program | ✅ Yes |
❌Banned Countries | United States, Russia, Canada, Iran, and North Korea |
🌟Scalping | ✅ Yes |
➡️Hedging | ✅ Yes |
🛢️Trading Instruments | Forex, cryptocurrencies, synthetic cryptocurrencies, precious metals, energies, indices, stocks, DeFi Tokens, NFTs |
🚀Open an Account | 👉 Click Here |
Regulation and Safety of Funds
Regulation in Singapore
FXGT.com is not currently regulated by the Monetary Authority of Singapore (MAS). However, FXGT.com’s global regulations are listed in the table below.
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 |
Protection of Client Funds
⚠️Security Measure | ℹ️ Information |
🗂️Segregated Accounts | ✅ Yes |
👤Compensation Fund Member | Liability Insurance |
💵Compensation Amount | 1,000,000 EUR |
📝SSL Certificate | ✅ Yes |
2️⃣2FA (Where Applicable) | ✅ Yes |
⛔Privacy Policy in Place | ✅ Yes |
✴️Risk Warning Provided | ✅ Yes |
❌Negative Balance Protection | ✅ Yes |
🛑Guaranteed Stop-Loss Orders | None |
Which regulatory framework regulates FXGT.com’s activities in Singapore?
FXGT.com works within an international regulatory environment consistent with international financial norms relevant to the Singapore market.
Can Singaporean traders get transparent trading reports through FXGT.com?
Yes, Singaporean traders can evaluate their trading activities using transparent trading reports and financial records available on FXGT.com.
Awards and Recognition
According to our research, FXGT.com has been bestowed with the following prestigious honors:
✅In 2024, Brokers View bestowed the designation “Best Global Trading Conditions” upon FXGT.com.
✅”Best Broker Award” was bestowed upon FXGT.com by AtoZ Markets in 2023.
✅In 2022, the Ultimate Fintech Awards bestowed the “Best Hybrid Broker” honor upon FXGT.com.
Account Types
🔍Live Account | 💵Minimum Deposit | 🚀Open an Account | 📈Platforms | ⬆️Leverage |
🥇Mini | 7 SGD / 5 USD | 👉 Click Here | All | 1:1000 |
🥈Standard+ | 7 SGD / 5 USD | 👉 Click Here | All | 1:1000 |
🥉Pro | 7 SGD / 5 USD | 👉 Click Here | All | 1:1000 |
🏆ECN | 7 SGD / 5 USD | 👉 Click Here | All | 1:1000 |
Mini Account
Our analysis of the FXGT.com Mini Account indicates a platform designed to facilitate the transition into trading. With a minimum deposit of only 7 SGD, this account provides a great opportunity for individuals who prefer to start with a smaller initial investment.
It offers access to a wide range of markets, including Forex and multiple CFDs, making it a comprehensive option despite its ‘mini’ label.
Beginners can greatly benefit from the absence of trading commissions, as it helps them manage costs while learning. In addition, the platform’s incorporation of cryptocurrency as one of the base currencies demonstrates its contemporary approach.
Standard+ Account
The Standard+ Account from FXGT.com offers a perfect blend of advanced features and ease of use. It notably provides synthetic cryptocurrencies, appealing to traders interested in crypto but prefer not to have direct exposure.
Like the Mini Account, it keeps a commission-free structure, which helps casual traders save on costs.
The loyalty bonus program is a valuable addition, particularly for those who actively trade. For Singaporean traders looking to broaden their investment horizons, the Standard+ Account offers extensive market access.
Pro Account
Geared towards seasoned traders, the FXGT.com Pro Account provides a range of advanced features, all without any commission fees. It offers a range of exclusive assets, such as DeFi Tokens and NFTs, which may interest individuals looking to explore emerging digital assets.
With tight spreads starting from just 5 points, traders can benefit from enhanced precision in their trading strategies, which is essential for those who take trading seriously.
This account is designed to meet the risk management needs of experienced traders. It offers higher margin calls and lower stop-out levels.
ECN Account
According to our research, the FXGT.com ECN Account offers a top-notch experience, featuring ultra-low spreads starting from 0.0 pips. The commission structures are designed to align with your trade volume and complexity, ensuring a tailored approach to your financial needs.
We found that scalpers, day traders, and those using algorithmic strategies find it highly appealing because of its fast speed and strong market connectivity. With its high leverage and flexible trade sizes, it caters to advanced trading strategies.
Islamic Account
FXGT.com provides an Islamic Account option that strictly follows the principles of Sharia law. Eliminating swap interests ensures adherence to Islamic financial regulations.
Regardless, we noticed that the account has access to a diverse range of assets, ensuring ample trading opportunities are available, given that the instruments are considered Halal according to Sharia Law.
By offering an Islamic Account option, FXGT.com shows its dedication to catering to a wide range of trading preferences and promoting inclusivity.
Demo Account
Our experience registering a demo account with FXGT.com was quick and we could access the trading platform within minutes.
While exploring this account, we noticed a dynamic simulated market environment, letting us practice strategies and become acquainted with the platform without any financial risk.
Like all other demo accounts, the FXGT.com demo account uses virtual funds for practice and allows the virtual balance to be reset at any time.
FXGT.com offers a dynamic and adjustable leverage scale on the demo account, allowing traders to see the pros and cons of leverage in a simulated environment.
Furthermore, the FXGT.com demo account benefits novice Singaporean traders looking into forex and CFD trading. This valuable tool further highlights FXGT.com’s commitment to educating traders and managing risks.
Can I trade cryptocurrencies with all FXGT.com account types?
Yes, all account types on FXGT.com, including the Mini, Standard+, Pro, and ECN accounts, allow trading in cryptocurrencies, among other instruments.
What is the difference between the Standard+ and Pro accounts on FXGT.com?
The Standard+ account on FXGT.com is suitable for intermediate traders with standard trading conditions. In contrast, the Pro account offers more competitive spreads and is tailored for experienced traders with a higher trading volume.
How To Open an Account Step-by-Step
FXGT.com offers an extremely simplified and quick registration process to all traders, which we detail in the steps below:
Step 1: Go to the official website and click on the “Register Now” or “Open Account” tabs
Step 2: Complete the online application form
The trader is then asked to complete a registration form. Traders must ensure that their personal details are accurate is essential for account verification and future correspondence.
Before submitting the form, traders must carefully go through the terms and conditions of FXGT.com. Understanding these concepts is crucial for traders to familiarize themselves with the operational framework and regulatory requirements.
Step 3: Wait for confirmation from FXGT.com
After completing the registration form, traders can expect to receive an email confirmation from FXGT.com in their inbox. Clicking the link provided is crucial for validating the trader’s email address and ensuring an important security measure is in place.
Do I need to verify my identity to open an account with FXGT.com?
Yes, completing the KYC (Know Your Customer) verification process, which includes submitting identity and residence proof, is mandatory to open an account with FXGT.com.
Can I open more than one account with FXGT.com?
Yes, FXGT.com allows traders to open multiple accounts, offering different account types to suit various trading strategies.
FXGT.com vs OANDA vs JustMarkets – Broker Comparison
🔍Broker | 🥇FXGT.com | 🥈OANDA | 🥉JustMarkets |
⌛Regulation | FSCA, CySEC, VFSA, FSA | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSC | CySEC, FSCA, FSA, FSC |
📊Trading Platform | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 OANDA Platform FxTrade | MetaTrader 4 MetaTrader 5 JustMarkets App |
💴Withdrawal Fee | None | ✅ Yes, bank wire | None |
🗂️Demo Account | ✅ Yes | ✅ Yes | ✅ Yes |
💵Min Deposit | 7 SGD ($5) | 0 SGD ($0) | 14 SGD ($10) |
⬆️Leverage | 1:1000 | 1:888 | Up to 1:3000 |
📝Spread | From 0.0 pips | From 0.1 pips | From 0.0 pips |
💷Commissions | $6 on Forex $5 on Precious Metals 0.1% on Crypto Assets | From $35 | $6 per lot traded |
🛑Margin Call/Stop-Out | 50% – 70% (M) 20% – 40% (SO) | 100%/ 50% | 40%/20% |
🧑⚖️Order Execution | Market | Market | Market |
❌No-Deposit Bonus | ✅ Yes | None | ✅ Yes |
🪙Cent Accounts | ✅ Yes, Mini | None | ✅ Yes |
🗂️Account Types | Mini Account Standard+ Account Pro Account ECN Account | Standard Account Core Account Swap-Free Account Premium Account Premium Core Account | MT4 Standard Cent Account MT4 Standard Account MT4 Pro Account MT4 Raw Spread Account MT5 Standard Account MT5 Pro Account MT5 Raw Spread Account |
✏️MAS Regulation | None | ✅ Yes | None |
💶SGD Deposits | None | ✅ Yes | ✅ Yes |
➡️SGD Account | None | ✅ Yes | None |
⏰Customer Service Hours | 24/7 | 24/5 | 24/7 |
⚙️Retail Investor Accounts | 4 | 5 | 7 |
☪️Islamic Account | ✅ Yes | ✅ Yes | ✅ Yes |
⬇️Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
⬆️Maximum Trade Size | 200 lots | 1,000 lots | 100 lots |
🕰️Minimum Withdrawal Time | Instant | 1 business day | 1 – 3 hours |
⏰Maximum Estimated Withdrawal Time | 1 – 5 Business Days | 2 – 5 Working Days | 6 banking days |
🌟Instant Deposits and Instant Withdrawals? | ✅ Yes, Both | ✅ Yes, Deposits | ✅ Yes, deposits |
🚀Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
Trading Platforms and Software
This broker offers Singaporean traders the following trading platforms:
➡️MetaTrader 4
➡️MetaTrader 5
MetaTrader 4
While exploring FXGT.com’s MetaTrader 4 (MT4) platform using a demo account, we found that this popular platform offers a user-friendly interface for navigating a wide range of financial instruments, including synthetic cryptocurrencies and DeFi tokens.
We were impressed by the real-time execution speeds on this platform, which are crucial for volatile markets like Forex and emerging digital assets like NFTs.
The platform’s advanced charting capabilities and competitive spreads provide a powerful tool for Singaporean traders to make informed trading decisions.
Furthermore, the customizable leverage options allow traders to adjust their risk tolerance and strategies.
We also found that MT4 integrates with FXGT.com’s accounts, supporting multiple base currencies and strategically allowing traders to trade in USD, EUR, or various cryptocurrencies.
Despite the absence of additional timeframes and other robust tools on MT5, MT4’s core strengths are sufficient for executing complex trades effectively, making the platform ideal for beginners.
MetaTrader 5
In our hands-on exploration of the MetaTrader 5 (MT5) platform, we found that it offered a forward-looking trading experience when combined with FXGT.com’s trading ecosystem.
With FXGT.com and MT5, we ventured into new markets, such as NFTs and DeFi tokens, thanks to MT5’s advanced technology and FXGT.com’s innovative instrument offerings.
The platform’s depth of market feature and advanced order handling gave us greater control over our trades, which was crucial given FXGT.com’s extensive asset offerings.
Furthermore, we also found MT5’s sophisticated analytical tools invaluable for creating trading strategies.
Combined with FXGT.com’s transparent pricing model and tight spreads, especially on their ECN account, these tools allowed us to trade at a high level without unnecessary distractions.
Furthermore, MT5’s integration of advanced financial trading functions, such as comprehensive historical data, allowed us to back-test our strategies against FXGT.com’s competitive trading conditions. This was particularly helpful
What trading platforms are offered for Indonesian traders on FXGT.com?
Indonesian traders on FXGT.com have access to MetaTrader 4 and MetaTrader 5, two of the most popular and flexible trading platforms. These platforms feature comprehensive charting tools, automated trading features, and a user-friendly interface.
Can Indonesian traders use sophisticated charting tools at FXGT.com?
Yes, FXGT.com’s trading platforms provide powerful charting tools to Indonesian traders, such as several chart types, technical indicators, drawing tools, and customizable timeframes, allowing for complete market research and decision-making.
Range of Markets
FXGT.com offers Singaporean traders the following trading instruments and products:
➡️Synthetic Cryptocurrencies
➡️Precious Metals
➡️DeFi Tokens
➡️Energies
➡️Forex
➡️NFT’s
➡️Stocks
➡️Cryptocurrencies
➡️Indecies
Synthetic Cryptocurrencies
With 9 synthetic coins, FXGT.com introduces Singaporean traders to a unique concept. These instruments simulate cryptocurrency prices without ownership.
With leverage options up to 1:50, traders can speculate in the crypto market with smaller investment amounts and removing the requirement for crypto wallets and blockchain knowledge
Precious Metals
FXGT.com offers three precious metals to traders in Singapore. These commodities are well-known for their safe haven reputation, particularly during market volatility.
With leverage of up to 1:1000, investors can increase their exposure to these assets. Furthermore, in our experience, trading precious metals could be prudent for Singaporean traders looking to diversify their holdings and hedge against inflation.
DeFi Tokens
FXGT.com is leading the way in offering emerging markets with 9 DeFi token offers, catering to Singaporean traders interested in studying the burgeoning decentralized finance industry.
Leverage of up to 1:50 is available on these assets, providing an entrance into this cutting-edge financial area with the potential for significant rewards.
Furthermore, FXGT.com’s DeFi tokens enable access to initiatives transforming financial services, enticing Singaporeans who want to participate in the sector’s growth.
Energies
Singaporean traders can access three main energy markets through FXGT.com, with leverage of up to 1:100.
According to our experience, trading energies allows investors to profit from global economic swings and industry volatility. Furthermore, this option is especially useful for Singaporeans to diversify their portfolios with commodities with distinct connections to typical market movements.
Forex
FXGT.com offers Singaporean traders diverse forex trading possibilities, including 41 currency pairings (major, minor, and exotic).
Leveraged trading up to 1:500 on key pairs gives Singaporeans significant market exposure. Furthermore, forex trading is popular in Singapore due to its liquidity, 24-hour market accessibility, and possible profit from drastic and fast price changes.
NFTs
FXGT.com offers trading opportunities in five non-fungible tokens, putting Singaporean investors at the forefront of the digital art and collectibles market.
While this market is still in its early stages, it offers an intriguing opportunity to participate in an asset class that has potential significant returns, and that acts as a digital hedge against traditional assets.
Stocks
Traders in Singapore can choose from 50 stock CFDs on FXGT.com, allowing them to trade in some of the world’s greatest companies. Furthermore, with leverage available at 1:50, traders can profit from up and downward market swings when they increase their position size by 50x.
Cryptocurrencies
FXGT.com offers Singaporean traders 24 cryptocurrency trading options. With leverage ranging from 1:50 to 1:500, these digital assets provide a contemporary investing opportunity with considerable volatility and the potential for substantial returns.
Furthermore, this asset type appeals to more experienced Singaporeans who are willing to take on more risk according to solid trading plans and robust risk management strategies.
Indices
FXGT.com offers 11 indices for Singaporean traders to track larger market trends by trading on the performance of top corporations in a variety of industries.
Indices with FXGT.com can be traded with leverage up to 1:500, offering traders a strategic position to get exposure to market sectors or economies without analyzing individual stocks.
Can I trade major global indices with FXGT.com?
Yes, FXGT.com offers trading on major global indices, allowing Singaporean traders to speculate on the world’s leading stock market trends.
Does FXGT.com offer any exotic forex pairs for trading?
FXGT.com provides a selection of exotic forex pairs in addition to major and minor pairs, catering to traders looking for broader market exposure.
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Fees, Spreads, and Commissions
Spreads
We found that FXGT.com offers competitive spreads, starting as low as 0.0 pips on the ECN account. This benefits active Singaporean traders who want tight spreads, especially on major Forex pairs, making it ideal for scalping and other fast-paced strategies.
The spreads are reasonable and adjusted based on market conditions even on other account types. The Mini and Standard+ accounts are particularly appealing because they have a commission-free structure, so traders only have to deal with spreads.
This is a feature that could help Singaporeans manage costs effectively, especially for new traders.
Commissions
In terms of commissions, we were pleased to find that FXGT.com has a transparent approach. FXGT.com offers different accounts, such as Mini, Standard+, Pro, and ECN, each with unique trading conditions.
While the Mini, Standard+, and Pro accounts operate spread-only, the ECN account charges commissions.
Despite the addition of commissions, FXGT.com ensures that these fees are clearly outlined and based on trade volume and complexity.
Singaporeans can view the commission fees charged on the ECN account, typically from $6 on forex, $5 on precious metal, and 0.1% on crypto, on the official FXGT.com website under the account comparison.
Overnight Fees
As is a common practice in the industry, FXGT.com charges swap fees for positions held open overnight. These fees depend on the financial instrument, position size, and the direction of the trade, with typical overnight fees outlined on the FXGT.com website.
In addition, Singaporean traders must consider these fees when they use strategies that involve extended position holding. Furthermore, Muslim traders who sign up with FXGT.com are assured that an Islamic Account is available, exempting traders from these fees.
Deposit and Withdrawal Fees
Our team was happy to find out that FXGT.com doesn’t charge any fees for these transactions. However, it’s important to mention that Singaporeans might still encounter fees from their payment processors or banks, especially for currency conversions.
Inactivity Fees
Singaporeans should note that FXGT.com implements inactivity fees, a common industry practice to encourage trading activity. If accounts remain inactive for over 90 days, traders will be charged a $10 fee.
Currency Conversion Fees
During our examination of FXGT.com, we found that FXGT.com charges currency conversion fees for trades made in currencies other than the accepted base currencies (BTC, ETH, USDT, ADA, XRP, EUR, USD, ZAR).
Singaporean traders, must familiarize themselves with these fees when transferring funds accounts in SGD and converting to USD, EUR, or supported cryptocurrencies. Furthermore, these fees are typically determined by the prevailing exchange rates at the time of the transaction.
How can I view the specific fees for trading on FXGT.com?
Detailed information on spreads, commissions, and overnight fees can be found on the FXGT.com website or directly within the trading platforms.
Does FXGT.com offer any fee reductions or rebates?
Yes. FXGT.com offers cashback rebates, reducing the effective trading cost for active traders by returning a portion of the spread or commission.
Deposit & Withdrawal Options
🫴🏻Payment Method | 🌎Country | 💵Currencies Accepted | ⏰Processing Time |
💳Debit Card | All | USD, EUR, ZAR | Instant – 5 days |
💳Credit Card | All | USD, EUR, ZAR | Instant – 5 days |
💰Cryptocurrencies | All | BTC, ETH, XRP, ADA, USDT ERC20, USDT TRC20 | 1 minute – 48 hours |
📌Sticpay | All | EUR, USD | Instant – 48 hours |
⚙️Neteller | All | EUR, USD, ZAR | Instant |
🌟Skrill | All | USD, ZAR | Instant |
💻Online Naira | Nigeria | EUR, USD | Instant |
💵Perfect Money | All | EUR, USD | Instant |
🏦Local Banks | All | EUR, USD, ZAR, etc. | Instant |
🚩ZotaPay | All | USD | Instant |
✏️FasaPay | All | USD | Instant |
🖥️Bank Wire Transfer | South Africa | ZAR | 2 to 5 working days |
🏆Binance Pay | All | USDT | Instant |
Deposits
Bank Wire
✅Locate and navigate the ‘Deposit’ section on the trader’s FXGT.com dashboard.
✅Choose ‘Bank Wire Transfer’ as your preferred deposit method, and take note of the banking details provided by FXGT.com, including the SWIFT code and account number.
✅Begin the transfer by logging into your banking terminal and using the banking details provided by FXGT.com.
✅Singaporeans must note that their SGD deposit will be converted to a supported account-based currency once funds are received by FXGT.com, which could entail a currency conversion fee.
Credit or Debit Card
✅After logging into your FXGT.com account, go to the ‘Deposit’ section.
✅Select the ‘Credit or Debit Card’ option from the available deposit methods.
✅Please provide your card details, including the card number, expiry date, CVV, and the desired deposit amount. Singaporeans should note that an automatic currency will be converted to an accepted base currency.
✅Double-check the transaction details and fulfill any additional security verification requested by the trader’s bank to complete the transaction.
Cryptocurrency
✅Access your FXGT.com account and navigate to the ‘Deposit’ section.
✅Opt for ‘Cryptocurrency’ and select the type of crypto you prefer, such as BTC or ETH.
✅Ensure that the cryptocurrency deposit is directed to the provided FXGT.com wallet address, making sure to select the correct cryptocurrency for the deposit.
e-Wallets or Payment Gateways
✅Choose your preferred e-wallet or payment gateway from the available deposit options, like Neteller or Skrill.
✅Provide the desired deposit amount in a supported currency, such as USD or EUR, and proceed to authorize the transaction within the e-wallet or payment service provider’s interface.
Withdrawals
Bank Wire
✅Navigate to the ‘Withdrawal’ section in your FXGT.com account.
✅Select ‘Bank Wire Transfer’ for your withdrawal method and provide the necessary banking details, such as the SWIFT code and account number.
✅Please indicate the amount you wish to withdraw in either USD, EUR, or your preferred cryptocurrency. Note that your bank will handle any necessary conversions, and you might be liable for these costs.
✅Submit the withdrawal request to FXGT.com for processing.
Credit or Debit Cards
✅Visit the ‘Account Dashboard’ on FXGT.com to access the ‘Withdrawal’ feature.
✅Choose the credit card you previously used to deposit funds as the preferred withdrawal method. FXGT.com usually returns the withdrawal amount to this card according to AML policies.
✅Submit your withdrawal request. Singaporeans might have their funds converted to SGD, which could involve currency conversion fees.
Cryptocurrency
✅Go to the withdrawal section in your FXGT.com trading account.
✅Choose ‘Cryptocurrency’ as the withdrawal method and specify the type of cryptocurrency you wish to withdraw.
✅Provide your crypto wallet address and the amount you wish to withdraw.
✅Once you have confirmed the details, you can proceed with the transaction.
e-Wallets or Payment Gateways
✅Access your FXGT.com account and find the withdrawal section.
✅Consider choosing an e-wallet or payment gateway for your withdrawal method, such as SticPay, Neteller, or Skrill.
✅Review the transaction details and click ‘Confirm’ to finalize the withdrawal request.
How can Singaporean traders deposit funds into their FXGT.com account?
Singaporean traders can deposit funds using various methods, including bank transfers, credit/debit cards, and e-wallets, selecting the preferred method in the deposit section of their account.
Is there a minimum withdrawal amount on FXGT.com?
Yes, FXGT.com sets a minimum withdrawal amount, which varies based on the withdrawal method used.
Leverage and Margin
After examining FXGT.com’s leverage and margin options for Singaporean traders, we discovered that the platform has a remarkable maximum leverage ratio of 1:1000.
This leverage ratio is among the highest in the trading community, and it is especially tempting to traders who want to increase their positions with a minimal capital commitment.
However, although high leverage might improve profit potential, it also raises the risk of monetary loss, which means that Singaporeans need adequate risk management to protect their capital while profiting from larger position sizes.
Singaporeans must note that FXGT.com uses a tiered leverage system, where leverage reduces when the value of open positions increases.
In our experience with leverage and margin systems, this method reduces the risks associated with large holdings while adhering to safe trading procedures. Furthermore, it prevents traders from overextending themselves in the market without sufficient equity.
FXGT.com’s platform’s margin requirements are explicit and dynamically adjusted based on market conditions and account balances.
This dynamic strategy allows traders to respond quickly to margin calls, lowering the risk of forced position liquidation.
Furthermore, FXGT.com’s real-time notifications keep traders in the loop about their margin usage, which is important for their overall account balance and prevents stop-outs.
Our detailed scrutinization of these tools and components (due to the risks involved) showed that FXGT.com provides competitive leverage and margin conditions and prioritizes trader education on the hazards of leverage trading.
This instructional focus is especially beneficial for Singaporean traders since it gives them the expertise to handle leverage intelligently and responsibly.
Does FXGT.com provide educational materials on leverage and margin?
Yes, FXGT.com offers extensive educational materials on leverage and margin management, enabling Indonesian traders with the knowledge and tools to employ leverage successfully and responsibly in their trading activity.
Can Indonesians modify their leverage settings on FXGT.com?
Yes, Indonesian traders can adjust their leverage settings on FXGT.com using the trading platform or by contacting customer service, enabling them to alter their risk exposure and trading strategy as required.
Educational Resources
FXGT.com pales slightly in terms of educational materials when compared to other brokers. However, we found some useful materials, resources, and tools that can help and guide Singaporean traders regardless of whether they’re new to trading or have some experience.
eBooks
FXGT.com offers several eBooks that cater to the educational needs of Singaporean traders. The eBooks cover a wide range of topics, from the basics of Forex trading to more advanced strategies involving synthetic cryptocurrencies and DeFi tokens.
What sets FXGT.com’s materials apart is their relevance to the broker’s services, which include comprehensive tutorials on understanding complex instruments like NFTs and synthetic cryptocurrencies, which are particularly popular among Singapore’s tech-savvy population.
Furthermore, FXGT.com’s eBooks are designed to guide users from foundational concepts to more advanced trading techniques while seamlessly integrating with the available platforms.
Comprehensive Glossary
We highly recommend that Singaporeans use the comprehensive glossary on FXGT.com. It is a valuable resource for both novice and seasoned traders in Singapore.
The glossary simplifies complex trading terminology, making it easier for traders to understand and utilize the platform’s various financial instruments.
It defines basic terms and covers specialized concepts unique to FXGT.com’s advanced services, including synthetic indices, DeFi, and leverage and margin requirements.
Demo Account
We find that FXGT.com’s Demo Account is incredibly valuable for Singaporean traders. It lets all types of traders experience genuine market conditions without taking any risks.
Furthermore, by using virtual funds, traders can explore the wide range of financial instruments offered by FXGT.com, including unique options like NFTs and synthetic cryptocurrencies.
This demo account provides all traders a hands-on learning opportunity to experiment and refine their trading strategies across various marketplaces.
Additionally, it serves as a realistic testing ground where traders can apply theoretical information obtained from the FXGT.com glossary and eBooks.
Market Analysis
The Market Analysis section of FXGT.com can be a valuable resource for gaining insights into global financial markets and their impact on the global financial markets.
It offers comprehensive and timely information on various asset classes on the platform, allowing traders to forecast and evaluate trends.
This knowledge helps Singaporeans make informed decisions. Given traders’ familiarity with local and international events, they can be well-equipped to navigate market fluctuations, especially in Forex and emerging digital assets (NFTs, DeFi tokens, etc), which are popularly traded
Trader Insights
Singaporean traders can benefit from Trader Insights on FXGT.com. This resource offers professional assessments and strategy discussions tailored to the specific market conditions and instruments.
This resource provides practical information that is directly relevant to FXGT.com’s platforms, letting traders adapt strategies based on available leverage and margin settings.
Furthermore, what sets these insights apart is that they are not just theoretical; they are supported by local market data and patterns, enhancing the trading outcomes of Singaporeans regardless of whether they trade in traditional or emerging markets.
How often is the market analysis on FXGT.com updated?
Market analysis on FXGT.com is regularly updated to reflect current market conditions and significant economic events.
Does FXGT.com provide tutorials on how to use the trading platforms?
Yes, FXGT.com offers tutorials and guides on navigating and making the most of MetaTrader 4 and MetaTrader 5 platforms.
Bonuses and Promotions
FXGT.com’s $30 no-deposit incentive is appealing to Singapore traders. This offer is a great way for traders to try the platform for free before committing any money.
With this bonus, traders can test the various financial markets and understand the platform’s operation without risking funds.
To top it all off, FXGT.com has a loyalty benefit that will help traders from Singapore have a better trading experience. With this offer, they can get a 25% bonus on all their future deposits, helping traders who want to increase their position sizes and trading volumes overall.
In addition, automated trading techniques developed by FXGT.com are guaranteed to operate quickly and efficiently through their VPS sponsorship program. For traders using automated systems to make transactions efficiently, this is vital.
Overall, FXGT.com has designed its promotional offerings to meet your diverse needs and provide you with valuable tools to maximize your trading potential.
However, there are certain conditions that traders need to be aware of, such as the requirement to trade 2 GT lots before you can withdraw any profits earned from the no-deposit bonus.
Are there any FXGT.com bonuses targeting the Singapore market?
No, not specifically. Overall, FXGT.com runs bonuses that cater to global traders in countries where FXGT.com can operate and provide trading solutions, including Singapore.
How can I withdraw my bonus profits from FXGT.com?
Singaporean traders must meet specific trading volume criteria to withdraw bonus profits and follow FXGT.com’s bonus terms and conditions.
Affiliate Programs
Features
Singaporean traders interested in profiting from their forex knowledge can consider joining the FXGT.com affiliate program.
From our research, we saw that this program allows you to earn commissions by recommending new traders to the FXGT.com platform.
Whether you currently have a following or want to grow one, you can use various strategies, such as social networking, generating instructive material, or cooperating with other forex influencers in Singapore.
Furthermore, the FXGT.com affiliate network offers various marketing solutions specifically geared to Singaporean traders and their online activities.
Importantly, the program has a transparent fee structure that ensures fair pay for every trader you suggest who signs up and trades with FXGT.com. In addition, we didn’t find any hidden fees, so you can concentrate on increasing your revenue.
In addition to possible compensation, the FXGT.com affiliate program provides specialized account managers.
These managers provide individual support and direction to help you navigate the complexity of advertising Forex instruments and trading services in Singapore. This support system is crucial for giving you the materials you need to succeed in the FXGT.com affiliate program.
How to Register an Affiliate Account Step-by-Step
Step 1: Find the “Partners” section on the FXGT.com website and click the “Register” banner
Step 2: Complete the online application form
Before submitting your application, confirm that you have read and understand the FXGT.com affiliate terms and conditions.
Step 3: Wait for approval from FXGT.com
If your application is approved, you can enter the FXGT.com affiliate portal and receive a welcome email with your unique affiliate link.
What commission rates does FXGT.com provide to affiliates in Singapore?
FXGT.com provides competitive commission rates of $12 per lot that Singaporean affiliates’ referrals trade, ensuring the opportunity for enhanced profits based on performance.
How do Singaporean affiliates monitor referrals on FXGT.com?
Singaporean affiliates can easily track their referrals on FXGT.com using a range of real-time analytics and reporting features on their affiliate dashboard.
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 |
5️⃣The overall quality of FXGT.com Support | 5/5 |
Response Time
🫴🏻Support Channel | 🕰️Average Response Time | ⏱️User-based Response Time |
☎️Phone | 2 – 5 minutes | 4 – 6 minutes |
24 hours | Same-day | |
🗣️Live Chat | 5 minutes | 3 – 4 minutes |
📱Social Media | 5 minutes | 5 minutes |
🤝Affiliate | 24 – 48 hours | 24 – 48 hours |
Can Singaporean clients receive support in their native language on FXGT.com?
Yes. FXGT.com offers multilingual services, including help in local languages for Singaporean clients.
Is there a dedicated account manager for FXGT.com customers in Singapore?
Yes. FXGT.com provides individual account managers to Singapore customers, ensuring they can receive customized support and trading assistance 24/7.
Social Responsibility
FXGT.com does not currently provide any information regarding CSR initiatives or projects.
User Comments and Reviews
FXGT.com has only been operating for the past 4 years, yet has collected numerous mixed reviews from clients. Here are the top 4 that we found online:
🥇“I went with the Pro Account immediately, which has been perfect. I now have access to all of the financial tools I need, with no commissions. Spreads are a little wider than with other accounts but still reasonable. Overall, it’s an ideal match for me.”
🥈“I just discovered this broker, and it’s a genuine treasure. I like how they mix things with unique features among the standard ones.”
🥉“The site’s abundance of content first overwhelmed me. But I got the hang of it with time. I appreciate the diversity of account choices catering to a wide range of traders. Plus, only one account charges commissions, which is great. The spreads on the remaining accounts are not as awful as they appear.”
🏆“My first impression was wobbly, and it took some getting accustomed to. However, the service was excellent, and the entire experience was satisfactory.”
In Conclusion
According to user comments and our findings, the platform’s competitive spreads and commission structures cater to both beginners and seasoned traders.
Furthermore, the lack of deposit and withdrawal fees adds to its appeal, yet the absence of SGD as a base currency may cause currency conversion difficulties for certain traders.
Despite its merits, we discovered some room for growth. The lack of regional regulatory control might concern traders who want local regulatory oversight, and the complexity of emerging trading products could be intimidating for inexperienced traders.
However, despite some challenges, FXGT.com is an appealing option for Singaporean traders, providing superior technical features, a diverse selection of financial products, and a safe trading environment.
Therefore, based on our findings, we can recommend FXGT.com as a reputable broker for Singapore traders interested in both traditional and creative financial markets. However, we urge traders to evaluate the broker to ensure its offer aligns with specific trading strategies and objectives.
Our Insight
In my opinion, FXGT.com is a good option for Indonesian traders. Overall, FXGT.com offers a reliable trading platform with a wide range of financial instruments, including newer options such as synthetic cryptocurrencies, DeFi tokens, and NFTs.
Our Recommendations
FXGT.com has an extremely compelling offer for Singaporeans. However, there is room for improvement in ensuring that it can meet global clients’ trading needs and objectives. Here are some recommendations on how FXGT.com can improve:
✅Introduce more local currencies, including the Singapore Dollar (SGD) and Indonesian Rupiah (IDR) as account base currencies.
✅Consider obtaining regulations and licensing through local regulatory authorities like the Monetary Authority of Singapore (MAS), a Tier-1 regulatory entity.
✅Consider adding live workshops and in-depth courses on emerging markets to the plethora of educational resources.
✅Consider developing a proprietary app that could offer a user-friendly interface and several functions that connect traders directly to their positions, accounts, and several markets.
Pros & Cons
✅ Pros | ❌ Cons |
Singaporeans can expect access to diverse educational materials that suit different experience levels | FXGT.com does not support SGD as a base currency for accounts |
FXGT.com offers a demo account where traders can practice trading and test strategies risk-free | High leverage has associated risks that could lead to balance depletion |
Singaporeans can expect zero-pip spreads on ECN accounts | There is limited localized content for Singaporeans |
FXGT.com offers Singaporeans the chance to participate in emerging markets not yet available to other brokers, including DeFi, NFTs, and Synthetic crypto | MAS does not regulate FXGT.com in Singapore |
There are flexible account types that suit all types of traders | Inactivity fees apply to dormant accounts |
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Frequently Asked Questions
What are FXGT.com's trading hours for Singapore traders?
Trading hours vary by market and asset class; forex markets normally run 24 hours a day on weekdays.
Are there any trading limitations on FXGT.com for Singapore traders?
No, FXGT.com allows a variety of trading activities, including scalping, hedging, and using automated trading systems.
What is the minimum deposit for PrimeXBT?
PrimeXBT has a minimal minimum deposit requirement of 0.001 Bitcoin.
What leverage does FXGT.com provide to Singapore traders?
FXGT.com provides leverage of up to 1:1000, which varies by instrument and trader equity.
Does FXGT.com offer instructional materials for Singapore traders?
Yes, FXGT.com provides a range of educational tools, including eBooks, glossaries, and a sample account for practicing methods.