FXGiants Broker Review

Commissions & Fees

Customers will be required to deposit a minimum of $500 to get trading with FXGiants. While this is quite high compared to other brokerages out there, considering the average initial investment of most users, this isn’t as much of a hindrance as you might think. When it comes to forex trading, FXGiants offer both fixed and floating spreads which tend to vary depending on the type of trading account you have with them. On certain account types, spreads start from 1.7 pips on EUR/USD, while on others, there are no fixed spreads—however, this involves a fixed commission of $18 per lot. Overall, if you want an accurate picture of the spreads and commissions you will incur, you should first go to the website and decide what sort of trading account you want to open up with them.

Platforms & Tools

As with most other brokers out there, FXGiants provide users with access to the popular MetaTrader 4 platform, which is the preferred platform for most brokerages—and users—out there at the moment. The MetaTrader platform is well loved for its user-friendly interface and analytic tools, which offer an easy to use yet technical platform for novice and veteran traders alike. Support for alternative platforms is provided if you have a preferred one, which is good to see support for.

Customer Service

The customer support offerings FXGiants have in place are fairly standard for the industry and don’t stray too far from the classic formula of contact by email or phone within working hours. One thing that is missing is a well-stocked FAQ section, which is something we would like to see them work on in the future. Based on our research online, the reviews of the customer support seem somewhat mixed. Some users seem positive, but others appear to have had quite bad experiences where customer support have been slow to act if not unresponsive.

Overall, FXGiants seem like a relatively reliable forex brokerage. Whilst they don’t really seem to have anything particularly innovative in terms of features, the different levels of accounts and membership options provide a nice bit of variety for both new and more advanced traders. Spreads on certain account types do seem somewhat high, although this might be balanced out depending on the type of account you have with them. Additionally, they are based in the United Kingdom and thus fall under the FCA, which means customer protection is high.

Regulatory Details

Latest Risk Warning:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.44% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.