When choosing a broker, every investor is interested in a reliable and honest partner that allows multiplying capital and withdrawing money in a timely manner. To find out what FXGiants is and whether its services are fraudulent, take a look at our detailed objective review.
The broker makes bright promises and promises an easy way to achieve trading goals.
However, only real customer reviews and fact-checking will help to understand what the real face of FXGiants looks like and whether you should trust your money to this project. So, what do traders get with FXGiants: a scam or a productive, reliable platform for making money? The answers in our review.
Types of trading accounts offered by FXGiants
The FXGiants brokerage project offers its clients any of the real and STP/ECN accounts. There are several on fxgiants.com.
These are the tariff plans available to traders on live accounts:
Also, clients can trade when choosing the next STP/ECN account package.
Most of the tariff plans are offered without commissions. Of course, on the one hand it is profitable, but on the other hand it is not a good sign for traders, because it is the broker's earnings, which he demonstratively refuses to pay.
The minimum deposit is specified at $100. Again, on the one hand, this is an amount with which it is profitable for a trader to make the first steps on the platform, but it does not earn much, especially since such an amount requires regular replenishments. Accounts. As a result, a trader loses enough money at minimum favorable conditions.
Also novice traders who have chosen this platform can use a demo account. However, evaluating the platform's capabilities and testing various strategies is quite biased. The demo version is a popular publicity stunt of the scammers, to lure the prospects and "untwist" a trusting user into opening a real account.
On websites of brokers with high reputation the test version of the account shows traders the real picture of trading. The demo version of the account is the same on websites which were developed to swindle clients.
FXGiants Trading conditions
In our review of the brokerage project we pay special attention to the company's site. In other words we evaluate the "cover" of the broker.
As a rule the overall impression of the website rarely differs from the opinion of the brokerage project itself. At first glance, a presentable and informative resource is disappointing in details, which are the basis of cooperation. The platform is multilingual, available in a large number of languages, including Russian, Italian, Spanish, English, Chinese, etc. In other words, the owners of the project are interested in maximum coverage of purses of potential customers.
The following countries are exceptions:
Perhaps it would be a good idea if there were a translation of all sections, not just some pages. For example, in almost all of the presented languages one can get information about the types of accounts, peculiarities of trading operations, read tutorials and view the so-called legal facts provided by the broker.
However, investors will not be able to familiarize themselves with all the sections in their native language: the FXGiants website translates selectively. For instance, by placing a detailed review of bonus offers and conditions for receiving such rewards, the broker offers them only in English. So investors have three choices: either know English, or use a dictionary to understand the rules, or accept discrimination in the trading platform.
The broker offers investors to work on the trading platform MetaTrader 4.
Once a participant is authorized and has opened a live account, they are given access to online trading assets such as currency pairs, futures, cryptocurrencies, stocks, spot metals, indices and commodities. The broker promises trading with a maximum leverage of 1:500. As a rule, such a high figure indicates that this is a fraud.
Telling about the work according to the British law, the scammer is not ashamed to offer such a level of leverage. The fact is that usually its level is set according to the jurisdiction under which it is licensed. Thus, the FCA regulator allows brokers to offer retail traders a maximum leverage level of 1:30. By increasing the figures, scammers try to trick their victims. The leverage of 1:500 and more should be a "red line" for an investor willing to take part in the exchange trading, because it is often one of the preferences of swindlers.
This broker also has one more special indicator. We emphasize the absence of spreads (when trading the maximum demanded currency pair EUR/USD). Naming the liquidity providers, FXGiants operates with the names of well-known brands, mentioning J.P. Morgan, Credit Suisse, etc. It's a common practice practiced by almost all crooks, such an advertising move. Most often, these statements have nothing to do with reality.
Traders are offered several trading terminals: MetaTrader 4 (MT4), including its extended version.
The clients have a lot of questions about this web-platform. In practice it is not so good to use it as it is described by the broker.
FXGiants broker offers different ways to deposit/withdraw funds, bank transfers, cards (Mastercard, Visa), cryptocurrencies Bitcoin, and popular electronic payment systems (UnionPay, Neteller, Skrill). As traders themselves say, depositing funds is always welcomed by the broker, pushing the next installment in any way, but withdrawal of funds is a problem for the vast majority of clients.
Generally, with the help of a typical for its niche corporate commercial website, the tasks are the same for con men: to lure a sucker client with bright advertising phrases, promises of bonuses and tales of other advantages, to get the contact information of the next potential investor and trick him for money at the same time.
FXGiants does not have an actual license.
The brand operates under the name of an officially registered company Notesco UK Limited. This company has a British license FCA.
By the way, the site indicates that the company's registration is marked in Bermuda.
This is a common practice of swindlers in the field of trading, adopted to deceive market partners, i.e. clients. Which is confirmed by the frequent change of guises, which is commonly referred to as rebranding.
Not only the names behind the brokerage were changed, but also the names of the organization itself. The company, or rather one of its variants, was involved in a high-profile financial scandal, which resulted in the CySEC regulator ordering it to pay 335,000 euros in compensation for not withdrawing funds from clients. It's a good story, isn't it? No matter how much the broker tried to cover up such a fact with numerous renaming of the parent company as well as its divisions in Britain and Australia, the stain on its reputation is firmly entrenched in its history.
Under the name FXGiants, the broker began operating (cheating) in 2016, calling itself a London-based brokerage company. In fact, this office is part of IronFX.
Let's see what the domain history of fxgiants.com will tell us.
The registration in general was recorded in 2009, after which there have been many re-registrations and other changes.
By the way, the company also has an identical site fxgiants co uk. This is because FXGiants has different websites for users from different countries. It's imperative to keep in mind that after registering, users from most countries are not automatically redirected to fxgiants.co.uk, but will work at fxgiants.com. Before starting to work, to avoid disappointment, every investor simply has to carefully read the rules of working with this broker.
In general, as noted online, the site fxgiants.com has an extremely unsatisfactory citation index, as for the official Internet resource of an international broker with many years of experience.
A feedback form is provided for traders to contact them, which can be filled out on the site.
The Contact us section also includes alternative ways of contact.
Like most scammers, the support department only actively responds when they see the client as a potential money-bag and when an investor has problems through their fault, such a partner becomes undesirable and is ignored.
FXGiants Reviews online
I've analyzed many thematic websites and forums and found out that FXGiants broker is literally full of negative comments.
Traders do not recommend to get in touch with FXGiants broker. Contrary to the active advertisement about the company, people insist that FXGiants is a fraudulent firm, which deceives and disappoints traders.
Even if the investor has already opened an account, it is necessary to start with at least a minimum deposit account. Sometimes the resource allows withdrawing insignificant amounts. Thus, it will be possible to save at least a part of your capital.
The broker literally "robs" traders' purses with his own hands. Often hiding behind bonus rewards their true goal - to force the trader to deposit money into the account.
When a broke investor realizes that this is a "kitchen" of swindlers, rather than an honest brokerage company, it is no longer possible to get the money back.
Safety and security of funds with FXGiants
Hiding behind the license of the so-called parent company, the broker redirects users to its affiliated offshore resources by default.
Practically the whole information on the official site is advertising and PR. Feedback from real users tells us that there is no security of capitals on the website.
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A detailed review of facts, documentation and reviews allows one to conclude that the so-called FXGiants broker is a scam company that deceives its customers, lures their money and empties their accounts. Be extremely vigilant with FX Giants - partnering with them is extremely dangerous for investors' capitals.