FXGT is a CFD broker from South Africa, that is licensed and regulated by the FSCA. Their corporate phone number in Cyprus is: +357 994 0034317. Customer support email is: [email protected], and the Official Website: https://FXGT.com.
For complaints and withdrawal problems, read this.
FXGT Review
Our review of this broker finds that they offer their investors the classic MetaTrader5 (MT5) CFD trading platform. They offer the Desktop version, along with a web-trader and mobile trading apps for Android & iOS.
FXGT gives their investors and day traders a nice variety of underlying assets to trade including; Forex / Currency pairs, Commodities like Oil, Gold & Silver, Market Indexes and CFD’s for shares trading. You can create multiple MT5 demo trading accounts to tryout the platform and test your trading strategy.
The minimum deposit for a new trading account is only $5, or $250 for an ECN account. You account can be denominated in the following currencies: BTC, ETH, XRP, USDT, Euro, US Dollar or Japanese Yen. A variety of account funding methods are available including: Credit Card, Crypto, Neteller, Skrill or Sticpay.
If you are interested in see new trading apps, look here.
Fake Forex Traders
Many South African’s get involved in Forex trading & investing, because of a trader they found on Instagram. Fraudsters create fake Instagram profiles, and display a high rollers lifestyle, which they claim comes from their trading success.
Before following one of these traders, you must know that the people running managed account schemes are very often frauds! They are actually setup as Introducing Brokers, and many of them try to make a profit from your trading volume.
First thing to do, is educate yourself about day trading, and then look into Copy Trading at a regulated broker like CMTrading.
Is FXGT a Legit Broker?
Yes, FXGT is a licensed and regulated CFD broker in South Africa and Seychelles. Depending on your country of residence, you will be trading with either one of the two entities that own this brokerage firm.
- South Africa: GT IO Markets (Pty) Ltd (FXGT.com/za/) is located at: Aurora Drive, Liberty Life Building 21, Office 125, 1st Floor Umhlanga, Kwa-Zulu Natal, South Africa, 4301. They received their license number 48896 from the Financial Sector Conduct Authority (FSCA) on December 12th 2017.
- Seychelles: 360 Degrees Markets Ltd (FXGT.com/en/) is located at: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Regulated by the Seychelles Financial Services Authority (SFSA) with License Number SD019.
The way Scam Broker Investigator reviews a new broker, is by checking to see if they display a license on their website. It is always important to trade with a broker that is licensed and regulated in your country. You can read reviews of more licensed Forex brokers, listed here.
Compare Regulated Brokers
There are so many Forex brokers to compare and choose from online, just look here.
ForTrade is a popular CFD broker based in the United Kingdom, and licensed by ASIC, FCA and CySEC, see here. Open a Trading Account at: ForTrade.com.
If you are currently investing with FXGT, please share your review in the comments below.