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TMGM , FXGiants Broker Comparison

Do you want to know which is the better broker between TMGM and FXGiants ?

In the table below, you can compare the features of TMGM , FXGiants side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
TMGM
7.77
Regulated
Under guarantee
10-15 years
ASIC,FMA,VFSC
--
AA
A
451.2
7
7
7
1996
1972
1996
AA

EURUSD: -0.2

XAUUSD: 0.2

29
-8
29
AA
13.49 USD/Lot
26.27 USD/Lot
A

Long: -6.15

Short: 2.22

Long: -33.8

Short: 20.79

AAA
0.4
101.7
Edge ,Classic
FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48
$100
1:500
From 0
0.00
--
0.01
--
FXGiants
1.48
Clone Firm
Under guarantee
2-5 years
FCA
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
STP/ECN Absolute Zero,STP/ECN Zero Spread,STP/ECN No Commision,Live Zero Fixed Spread,Live Fixed Spread,Live Floating Spread
--
--
1:200
from 0.2
0.00
Variable
0.01
--

TMGM 、 FXGiants BrokersRelevant information

TMGM 、 FXGiants BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of tmgm, fxgiants lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

tmgm

Let's Start Here:

TMGM appears to a respected forex broker, presenting access to more than 12,000 spanning forex, CFDs, and cryptocurrencies. Traders can enjoy competitive spreads across various instruments, exemplified by the EUR/USD currency pair with an average spread of around 0.1 pips. Besides, TMGM extends a diverse set of trading platforms, notably including MetaTrader 4 and IRESS. Morever, TMGM enriches the trading journey with rich educational resources and trading tools. Lastly, 24/7 multilingual customer support stands ready. However, the question remains: Does TMGM truly live up to its claims?Let's explore more.

TMGM Review Summary in 10 Points
Founded 2013
Headquarters Sydney, Australia
Regulation ASIC, FMA, VFSC (Offshore)
Market Instruments forex, indices, shares, futures, precious metals, energies and cryptocurrencies
Demo Account Available
Leverage 1:500
EUR/USD Spread 1.0 pips
Trading Platforms MT4, MT5 (coming soon), IRESS
Minimum deposit $100
Customer Support Live chat, phone, email

What is TMGM?

Founded in 2013 and headquartered in Sydney, Australia, TMGM is an online ECN/STP broker. Notably, in 2016, TMGM introduced its MetaTrader 5 platform. Subsequently, the company achieved FCA membership in the UK during 2017. The year 2019 witnessed the launch of TMGM's mobile trading app, further enhancing accessibility. By 2021, TMGM's reach expanded to encompass over 200 countries worldwide.

Offering a diverse array of more than 12,000 trading instruments spanning forex, commodities, cryptocurrencies, and stocks, TMGM caters to traders through popular platforms including MetaTrader 4 (MT4) and Iress.

TMGM's homepage

Pros & Cons

TMGM has some strong points: solid regulation, competitive costs, lots of assets, and top-notch support. But there are a couple of downsides, like inactivity fees and no MT5 yet.

Pros Cons
• ASIC and FMA regulation • No US clients accepted
• Competitive spreads and low commissions • Inactivity fees applied
• Over 12000 trading instruments • MT5 not provided yet
• Both MT4 and IRESS platforms offered
• 24/7 multilingual cutsomer support
• Multiple account types with flexible options
• Rich educational resources
• High leverage up to 1:500

Is TMGM Legit?

TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC and is also licensed by the New Zealand Financial Markets Authority (FMA). Additionally, TMGM's international operations are overseen by the VFSC in Vanuatu offshore. Now, let's quickly delve into TMGM's regulations and licenses, which will shed light on how the broker ensures compliance with industry standards and protects clients.

Regulated Country Regulated Authority Regulated Entity License Type License Number
ASIC TRADEMAX AUSTRALIA LIMITED Market Making(MM) 436416
FMA TRADEMAX GLOBAL MARKETS (NZ) LIMITED Market Making(MM) 569807
VFSC Trademax Global Limited Retail Forex License 40356

Under the oversight of ASIC, a prominent tier-1 regulatory authority, TMGM's Australian branch known as TRADEMAX AUSTRALIA LIMITED operates with regulatory number 436416. This entity is licensed for Market Making (MM). As per the stringent rules set by ASIC, which is globally recognized, brokers must ensure the safety of clients' funds.

regulated by ASIC

Since TMGM claims to obtain the ASIC license, an investigation team from WikiFX visited the company's registered address in Australia. This visit, conducted in person, revealed that the company is operating smoothly and on a large scale. This direct observation by the investigator enhances our confidence in TMGM's legitimacy and highlights its strong and credible operations under ASIC's regulation.

WikiFX survey
WikiFX survey

TMGM's another entity, the entity in New Zealand known as TRADEMAX GLOBAL MARKETS (NZ) LIMITED, similarly, holds a Maket Making (MM) lincense from the authorization of FMA.

regulated by FMA

Lastly, TMGM's international branch, Trademax Global Limited, operates under the regulation and authorization of VFSC offshore, holding a license for retail forex activities.

offshore regulated by VFSC

Market Instruments

TMGM goes above and beyond by offering an impressive collection of 12,000+ trading instruments, setting it apart as a broker with an exceptional range of options, covering 60 currency pairs, indices, and stocks sourced from major global exchanges. Moreover, TMGM extends its offerings to include futures, as well as sought-after precious metals like gold and silver. Adding to the mix are energies such as oil and natural gas, not to mention a selection of 10 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Trading Assets Available
Forex
label
Shares
label
Energies
label
Indices
label
Precious Metals
label
Cryptocurrencies
label
Futures
label
Indices CFD Dividend
label
Shares CFD Dividend
label
ETFS
label
Stocks
label
Options
label
Market Instruments

Account Types

TMGM tailors its account types to match the chosen trading platform. If you're using the MetaTrader 4 platform, they provide EDGE and CLASSIC accounts. Opting for the IRESS trading platform brings you a choice of STANDARD, PREMIUM, and GOLD accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.

MT4 Accounts: EDGE and CLASSIC

Both accounts require a minimum deposit of $100, quite reasonable for most regular traders to get started.

Classic Edge
Min Deposit $100 $100
Min Lot Size 0.01 Lot 0.01 Lot
Max Leverage 1:500 1:500
Funding Free Free
Execution Type ECN ECN
EA Available
label
label
Islamic Account
label
label
Hedging Allowed
label
label

IRESS Accounts: STANDARD, PREMIUM and GOLD

The minimum deposit requirement is $5,000 for STANDARD Account, $10,000 for PREMIUM Account, and $50,000 for GOLD Account. When it comes to fees, the Standard account entails a platform fee of $35 USD or $45 AUD per month. The Premium and Gold account holders, on the other hand, enjoy fee-free access to the platform. Additionally, all account types are subject to a data fee for each exchange they use.

Standard Premium Gold
Minimum Deposit $5,000 $10,000 $50,000
Platform Fee $35 or A$45/per month No Fee No Fee
Data Fee For Every Exchange
Min. Commission $10 Not mentioned
Commission Rate (cps) 2.25 7 1.8
Minimum(Trade Size) 333Shares Not mentioned
Financing Libor+3.5%/-3.5% Libor +3%/-3% Libor +2.5%/-2.5%

Swap-Free Account

TMGM also provides a Swap Free account for those who are unable to pay or receive interest owing to their religious convictions. To open a Swap-Free account, you'll need to have an Edge account, which requires a minimum of $100 and a minimum lot size of 0.01.

Demo Account

Demo trading accounts are available through TMGM for anyone interested in testing the waters before opening a real account. These accounts allow you to test out the broker's services before committing any real money. In addition, it provides a means of learning as much as possible about TMGM before you commit to an investment account.

The MetaTrader4 trading platform (which we'll come to in a moment) is available to demo accounts for an entire year. However, in the event of inactivity for six months, your access will be terminated. A $5,000, $10,000, or $50,000 virtual currency balance is available to you.

Leverage

TMGM offers quite a high trading leverage up to 1:500 on all account types. Forex products trading can use leverage of up to 1:500, indices and energy with leverage of 1:100, and precious metals featuring 400x leverage.

Here's a table comparing leverage provided by major industry players. Notably, TMGM offers relatively higher leverage, though it appears somewhat more cautious compared to the other three competitors. However, users should remember that high leverage is a two-edged tool with potential risks.

Broker TMGM Exness FXTM IC Markets
Max. Leverage 1:500 1:Unlimited 1:2000 1:500

Spreads & Commissions

TMGM offers competitive spreads and commissions on their trading instruments. The exact spreads and commissions vary depending on the account type and trading platform used. The spreads on CLASSIC accounts start at 1.0 pips, with no commission charged, while the spreads on EDGE accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.

Generally, TMGM offers tight spreads on major forex pairs such as EUR/USD, with spreads as low as 0.0 pips. Commissions may be charged on some trading instruments, such as shares and futures. However, these commissions are generally competitive compared to other brokers in the industry.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
TMGM 0.0 pips $7 per round turn
Pepperstone 0.09 pips $3.5 per lot
eToro 1.0 pips $0
IG 0.6 pips $0
Plus500 0.8 pips $0
XM 0.9 pips $0

Note that commission rates may vary based on account type and trading volume, and spread rates may also vary depending on market conditions.

Trading Platforms

TMGM offers two popular trading platforms for their clients: MetaTrader4 (MT4) and IRESS.

Available Devices PC, Mac, Mobile ( OS and Android)
Language English
Scalping
label
Hedging
label
Automated Trading
label
One-click Execution
label
Web-based Trading
label
Mobile Trading
label
MT5
label
IRESS
label
cTrader
label
Proprietary Platform
label

MT4 is a popular and widely used platform that provides advanced charting tools, technical analysis indicators, and customizable trading robots. It also supports a variety of order types and execution modes, allowing for flexible and efficient trading.

MT4

IRESS, on the other hand, is a more sophisticated and feature-rich platform that is designed for more experienced traders. It offers advanced order management, risk management, and portfolio analysis tools, as well as advanced charting and technical analysis capabilities.

Both platforms are available on desktop, mobile, and web versions, providing traders with the flexibility to trade on their preferred device.

iRESS

Additionally, MetaTrader5 is not provided yet, and according to the announcement of TMGM's website, this popular trading platform is coming soon.

Trading Tools

TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:

  • Trading Calendar: A calendar that shows the dates and times of upcoming economic events, including central bank meetings, interest rate decisions, and other important announcements.

  • Market Sentiment Tool: A tool that allows traders to gauge market sentiment by analyzing the number of long and short positions held by other traders.

  • ForexVPS: A virtual private server that allows traders to run their trading strategies 24/7 without the need for a personal computer.

  • Trading Central: A research platform that provides traders with market analysis, trading ideas, and technical analysis tools to help them make informed trading decisions.

  • Traders Terminology: Type the keyword or term that you are looking for or select the letters to see the list of words.

  • Max-Calculator : The Max-Calculator is one of the best ways to help traders quickly evaluate the possible outcome of potential transactions or actions. In addition, this calculator will also help you calculate the margin easily.

Educational Contents Available
HUBx
label
Trading Calendar
label
Market Sentiment Tool
label
ForexVPS
label
Trading Central
label
Traders Terminology
label
Max-Calculator
label

Deposits & Withdrawals

TMGM minimum deposit vs other brokers

TMGM Most other
Minimum Deposit $100 $100

The minimum deposit and withdrawal amount is both $100. Depositing doesn't cost anything, but the time it takes and the currency options depend on your chosen payment method. Be aware, though, that some deposit methods like Union Pay, FasaPay, Visa, and MasterCard can't be used for withdrawals.

Payment Options Currencies Min.Deposit Min.Withdrawal Fees Processing Time ( Deposit) Processing Time ( Withdrawal)
NZD, USD, AUD, EUR, CAD $100 $100 $0 1-3 Working Day 1 Working Day
label
USD Instant
label
NZD Not mentioned 1 Working Day Not mentioned
label
USD $100 Instant 1 Working Day
label
USD, EUR, GBP, AUD, NZD, CAD 1 Working Day
label
label
CNY Not mentioned Instant Not mentioned
label
$100 1 Working Day
label
USD Not mentioned Not mentioned
label
USD, EUR, GBP, AUD, NZD, CAD 3 Working Days
label
MYR, THB, IDR, VND $100 Instant
label
USD, EUR, GBP, AUD, NZD, CAD Not mentioned
label

Other Fees

TMGM charges various fees, including spreads and commissions that we have mentioned before, as well as overnight financing fees. The specific fees vary depending on the type of account and trading platform used. TMGM does not charge any deposit or withdrawal fees, but clients may incur fees from their payment providers.

Additionally, TMGM charges an inactivity fee of $10 per month if there is no activity in the trading account for a period of six months or more. This fee will be deducted from the available balance of the account. However, if the available balance is less than $10, no inactivity fee will be charged. It is important to note that the inactivity fee is a common practice in the industry and is designed to encourage active trading and to offset the costs of maintaining inactive accounts.

See the fee comparison table below:

Broker Deposit Fee Withdrawal Fee Inactivity Fee
TMGM Free Free $10/month after 6 months of inactivity
Pepperstone Free for Australian Bank Transfer, $20 for International Transfer $0 after 12 months of inactivity
eToro $5 $10/month after 12 months of inactivity
IG $1 for AUD, CAD, and USD, £1 for GBP, €1 for EUR $18/month after 24 months of inactivity
Plus500 $1.5-$10 depending on withdrawal method $10/month after 3 months of inactivity
XM Free $5/month after 90 days of inactivity

Customer Support

TMGM offers customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).

Contact Channels Details
label
+612 8036 8388
label
support@tmgm.com
label
24/7
label
Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office
label
https://www.facebook.com/TMGMgroup
label
https://twitter.com/TMGMgroup
label
https://www.youtube.com/tmgmgroup
label
https://www.instagram.com/tmgmgroup/
label
https://www.linkedin.com/company/tmgmgroup
label
https://api.whatsapp.com/send/?phone=61452597488&text&app_absent=0

You'll find an extensive and user-friendly FAQ section right on their website, covering a wide range of topics, from account setup to trading strategies, making it an invaluable tool for traders of all levels.

Pros Cons
• Multiple languages supported • No dedicated account manager or personal service
• Quick response times to inquiries • Limited availability on weekends and holidays
• Personalized service with tailored solutions

Educational Resources

TMGM's special feature is TMGM Academy, and it's available in addition to the usual customer service. You may get a thorough education in foreign exchange trading by enrolling in the TMGM Academy. There are three levels to choose from Basic, Intermediate, and Expert.

The beginner stage prepares you for your journey into forex trading. The Beginner Stage develops a strong foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.

TMGM Academies Intermediate Stage starts focusing on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. Additionally, TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.

The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.

Conclusion

To sum it up, TMGM stands out as a respected and regulated broker. They offer a diverse set of trading options and platforms, including the sought-after MetaTrader4 and IRESS. Plus, they shine when it comes to customer service and educational materials. Not to mention, their spreads and commissions are pretty darn competitive too. Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.

Frequently Asked Questions (FAQs)

Question 1: Is TMGM regulated?

Answer 1: Yes. It is regulated by ASIC, FMA and VFSC (offshore).

Question 2: At TMGM, are there any regional restrictions for traders?

Answer 2: Yes. Products and Services offered on their website are not intended for residents of the United States.

Question 3: Does TMGM offer demo accounts?

Answer 3: Yes.

Question 4: Does TMGM offer the industry-standard MT4 & MT5?

Answer 4: Yes. It supports MT4, and MT5 is coming soon.

Question 5:: What is the minimum deposit for TMGM?

Answer 5: The minimum initial deposit at TMGM to open an account is $100.

fxgiants
FXGiants Basic Information
Registered Country/Region Bermuda
Regulations N/A
Tradable Assets Forex, Metals, Indices, Commodities, Futures, Shares
Account Types Live Floating Spread Account, Live Fixed Spread Account, Live Zero Fixed Spread Account, STP/ECN No Commission Account, STP/ECN Zero Spread Account, STP/ECN Absolute Zero Account
Minimum Deposit N/A
Maximum Leverage 1000:1
Minimum spread from 0.0 pips
Deposit & Withdrawal VISA, Wire Transfer, and BTC
Trading Platforms MetaTrader 4
Customer Support Phone, Email, Live chat,
Education Resources Blog

General Information & Regulation

FXGiants is an international online broker that offers retail and institutional traders across the globe access to trade over 200+ instruments from multiple asset-classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.

FXGiants, registered in Bermuda, operates as an unregulated broker. While it offers a diverse range of market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares, investors should approach the platform with caution due to the lack of regulatory oversight. The maximum leverage ranges from 200:1 to 1000:1, providing traders with flexibility but also exposing them to higher risks. Spreads and commissions vary across different account types, with options such as fixed spreads, zero spreads, and variable spreads. The absence of regulation raises concerns about investor protection and transparency. Additionally, limited deposit options, the absence of a demo account, and unclear minimum deposit requirements can be considered disadvantages. However, FXGiants offers robust trading platforms, including MetaTrader 4 and PMAM, along with VPS hosting services for enhanced performance. The customer support team is responsive and available via phone, email, and live chat. Traders can access educational resources through the company's blog, although the offerings may be limited. In summary, FXGiants provides a wide range of trading options but requires careful consideration of the associated risks and limitations.

basic-info

Is FXGiants legit or a scam?

No, FXGiants, registered in Bermuda, operates without holding any licenses and is not subject to regulatory oversight from any governing bodies. As a result, investors should approach the platform with caution and carefully assess the risks involved. The absence of regulatory supervision means that there are no guarantees regarding the platform's compliance with industry standards and customer protection measures. It is advisable for investors to conduct thorough due diligence, seek professional advice, and consider alternative regulated options to ensure the security of their investments.

Pros and Cons

FXGiants offers a range of advantages and disadvantages for traders. One of the key advantages is the availability of diverse market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares, allowing traders to diversify their portfolios. FXGiants also offers multiple account types, providing flexibility for traders to choose the one that aligns with their preferences. Additionally, FXGiants provides high leverage up to 1000:1. However, a significant drawback is the lack of regulation, which raises concerns about investor protection. The limited deposit options and the absence of a demo account for practice trading are also notable disadvantages. Moreover, the unclear minimum deposit requirement and limited educational resources may hinder comprehensive learning. Traders should carefully consider these factors before engaging with FXGiants.

Pros Cons
None Lack of Regulation
Limited Deposit Options
Lack of Demo Account
Unclear Minimum Deposit Requirement
Limited Educational Resources

Markets Instruments

  1. Forex: FXGiants offers a wide range of currency pairs for trading in the Forex market. Forex, also known as foreign exchange, involves the buying and selling of currencies. Traders can speculate on the price movements of major, minor, and exotic currency pairs, taking advantage of the volatility and liquidity of the Forex market.

  2. Metals: FXGiants allows trading in precious metals like gold, silver, platinum, and palladium. These metals are considered as safe-haven assets and are often used as a hedge against inflation or economic uncertainty. Traders can take positions on the price movements of these metals, benefiting from both rising and falling markets.

  3. Indices: FXGiants provides access to a variety of global stock indices, such as the S&P 500, FTSE 100, DAX 30, and Nikkei 225. Stock indices represent a basket of stocks from a specific exchange or sector and are used to gauge the overall performance of a market. Traders can speculate on the direction of these indices, capitalizing on market trends and economic indicators.

  4. Commodities: FXGiants offers trading opportunities in popular commodities like oil, natural gas, and agricultural products. Commodity markets involve the buying and selling of physical goods, including energy products, metals, and agricultural produce. Traders can take advantage of price fluctuations in these markets, driven by factors such as supply and demand dynamics, geopolitical events, and weather conditions.

  5. Futures: FXGiants allows trading in futures contracts, which are agreements to buy or sell an underlying asset at a predetermined price and date in the future. Futures cover a wide range of assets, including commodities, stock indices, and currencies. Traders can speculate on the future price movements of these assets, taking advantage of leverage and the ability to profit in both rising and falling markets.

  6. Shares: FXGiants provides access to trading shares of major companies listed on global stock exchanges. Share trading allows investors to take ownership in a company and participate in its growth and profitability. Traders can speculate on the price movements of individual stocks, leveraging fundamental and technical analysis to make informed trading decisions.

These market instruments offered by FXGiants provide traders with a diverse range of opportunities to capitalize on price movements across various financial markets, catering to different trading strategies and risk preferences.

market-instruments
market-instruments

Account Types

FXGiants offers a range of account types to cater to different trading preferences and strategies. Here are the details of the six account types:

  1. Live Floating Spread Account: This account features variable spreads starting from 1.0 pips, with no commissions charged per trade. Traders can benefit from a maximum leverage of 1000:1, allowing for greater trading flexibility and potential.

  2. Live Fixed Spread Account: With this account, traders enjoy fixed spreads starting from 1.3 pips, and there are no commissions per trade. Similar to the Live Floating Spread Account, the maximum leverage is set at 1000:1.

  3. Live Zero Fixed Spread Account: This account type offers zero fixed spreads. Instead, traders are charged a commission of $9 per lot traded. The maximum leverage for this account is set at 500:1.

account-types
  1. STP/ECN No Commission Account: Designed for traders who prefer straight-through processing (STP) and electronic communication network (ECN) execution, this account provides variable spreads starting from 1.7 pips without any commissions. The maximum leverage is set at 200:1.

  2. STP/ECN Zero Spread Account: Traders opting for this account enjoy zero spreads, meaning there is no markup on the raw interbank spreads. However, a commission of $3.75 per lot is charged. The maximum leverage for this account type is 200:1.

  3. STP/ECN Absolute Zero Account: This account features extremely low spreads starting from 0.2 pips, with no commissions charged per trade. Traders can leverage up to 200:1 in this account type.

These various account types offered by FXGiants allow traders to choose the one that aligns with their trading style, risk tolerance, and specific requirements, ensuring a customized trading experience.

account-types

How to open an account?

Here are the steps involved in the account opening process with FXGiants:

open-account
  1. Registration: Visit the FXGiants website and click on the “Open Account” or “Register” button. Fill in the required personal information such as name, email address, phone number, and country of residence.

    open-account
  2. Verification: After submitting your registration details, you will need to complete the verification process. This typically involves providing identification documents such as a valid passport or driver's license and proof of address, such as a utility bill or bank statement. FXGiants may require additional documents based on regulatory requirements.

  3. Account Type Selection: Choose the type of trading account that suits your trading preferences and needs. FXGiants typically offers different account types, such as Standard, Premium, or VIP, each with varying features and trading conditions. Select the account type that aligns with your trading goals.

  4. Deposit Funds: Once your account is verified, you can proceed to deposit funds into your trading account. FXGiants offers various deposit methods such as credit/debit card, wire transfer, or online payment systems. Choose the preferred method and follow the instructions to deposit the desired amount.

  5. Start Trading: After successfully depositing funds, you can log in to your FXGiants trading account using the provided credentials. Download the trading platform (such as MetaTrader 4) or access the web-based platform. You are now ready to start trading by selecting financial instruments and executing trades.

It's worth noting that the specific steps and requirements may vary slightly based on your location and regulatory guidelines. FXGiants typically provides clear instructions and guidance throughout the account opening process to ensure a smooth and hassle-free experience for their clients.

Leverage

When it comes to trading leverage, the maximum leverage offered by FXGiant is super high, reaching up to 1:1000. Generous leverage is not necessarily a good thing,e especially offered by unregulated brokers, so traders should take extra care to use it.

Spreads & Commissions

FXGiants offers varying spreads and commissions across different account types, providing traders with flexibility and choice. Here are the details:

  1. Live Floating Spread Account: This account features spreads starting from 1.0 pip with no commissions charged per trade. Traders can benefit from floating spreads while enjoying commission-free trading.

  2. Live Fixed Spread Account: With this account, traders can take advantage of fixed spreads starting from 1.3 pips without any commissions. The absence of commissions ensures transparent trading costs.

  3. Live Zero Fixed Spread Account: This account type offers traders the benefit of zero fixed spreads, meaning there is no markup on the raw interbank spreads. However, a commission of $9 per lot is charged for each trade.

  4. STP/ECN No Commission Account: Traders who opt for this account type enjoy variable spreads starting from 1.7 pips without any commissions. This account offers direct market access with no additional commission charges.

  5. STP/ECN Zero Spread Account: With this account, traders benefit from zero spreads, while a commission of $3.75 per lot is charged. This ensures traders have access to raw interbank spreads with low-cost trading.

  6. STP/ECN Absolute Zero Account: This account features incredibly low spreads starting from 0.2 pips with no additional commission charges.

FXGiants' diverse account types allow traders to choose the spreads and commissions structure that aligns with their trading style and preferences, providing flexibility and transparency in trading costs.

Trading Platform

FXGiants offers a robust trading platform that caters to the needs of traders. The platform primarily supports MetaTrader 4 (MT4), a widely acclaimed and popular trading platform in the industry. MT4 provides a comprehensive set of tools and features for traders to execute trades, perform technical analysis, and access real-time market data. It offers a user-friendly interface, customizable charts, and a wide range of technical indicators for advanced analysis.

In addition to MT4, FXGiants also provides the PMAM (Percentage Allocation Management Module) platform. This platform allows traders to easily manage multiple forex investment portfolios. With PMAM, traders can allocate and distribute funds among different trading accounts, monitor performance, and efficiently manage their investment strategies.

FXGiants also offers VPS hosting services. By connecting their trading accounts to FXGiants' free MT4 VPS (Virtual Private Server), traders can benefit from enhanced trading performance, reduced latency, and uninterrupted trading even during power outages or Internet disruptions. VPS hosting ensures that traders can fully utilize the potential of their trading strategies without worrying about technical issues.

Overall, FXGiants' trading platforms, including MetaTrader 4 and PMAM, coupled with their VPS hosting service, provide traders with advanced tools, convenience, and reliability to optimize their trading experience.

trading-platform

Deposit& Withdrawal

FXGiants offers convenient options for depositing and withdrawing funds. Clients can choose from various methods, including VISA, Wire Transfer, and BTC. VISA provides a quick and easy way to transfer funds using a credit or debit card. Wire Transfer allows for direct bank-to-bank transactions. Additionally, FXGiants supports BTC, enabling cryptocurrency enthusiasts to deposit and withdraw funds using Bitcoin. While FXGiants' official website does not specify the minimum deposit amount, clients can contact their customer support for more information.

deposit-withdrawal

Customer Support

FXGiants provides excellent customer support to assist traders in every possible way. Their dedicated staff is available 24/5, ensuring prompt assistance during trading hours. Clients can reach out to FXGiants' customer support through various channels. Alternatively, clients can reach out via email, allowing them to provide detailed information and receive a timely response. Additionally, FXGiants offers a convenient live chat feature on their website, enabling real-time communication with a support agent for quick resolutions to any issues.

customer-support
customer-support

Educational Resources

FXGiants offers educational resources to help traders gain knowledge about the financial markets. While their official website primarily provides a blog for accessing trading market information, it serves as a valuable resource for traders to stay informed about market trends, analysis, and insights. Traders can leverage these resources to enhance their understanding of the markets and make informed trading decisions. While FXGiants' educational offerings may be primarily focused on their blog, the availability of valuable market information can still contribute to traders' learning and development.

educational-resources

Conclusion

In summary, FXGiants is an unregulated broker registered in Bermuda. It offers a wide range of market instruments, including Forex, Metals, Indices, Commodities, Futures, and Shares. The platform provides multiple account types with varying spreads, commissions, and leverage options. FXGiants' trading platforms, including MetaTrader 4 and PMAM, offer advanced tools and features for traders. However, the lack of regulation raises concerns about investor protection. The limited deposit options, absence of a demo account, and unclear minimum deposit requirement are notable drawbacks. The customer support is responsive, and educational resources are available through the company's blog. Traders should carefully consider the risks and limitations associated with FXGiants before engaging with the platform.

FAQs

Q: Is FXGiants a regulated broker?

A: No, FXGiants is not a regulated broker.

Q: What trading instruments are available at FXGiants?

A:FXGiants offers a wide range of trading instruments, including Forex, Metals, Indices, Commodities, Futures, Shares

Q: Does FXGiants offer a demo account?

A: No, FXGiants does offer a demo account.

Q: What payment methods does FXGiants accept?

A: FXGiants accepts three kinds of payment methods, including VISA, Wire Transfer, and BTC

Q: What trading platforms does FXGiants offer?

A:FXGiants offers trading platform MetaTrader 4

Q: What is the minimum deposit required to open an account withFXGiants?

A: The minimum deposit required to open an account withFXGiants is $100 for all account types.

Q: Does FXGiants offer any bonuses or promotions?

A: Yes, FXGiants offers bonuses or promotions and the information is provided on their website.

Q: What is the maximum leverage offered by FXGiants?

A: The maximum leverage offered by FXGiants is 1:1000.

Are the transaction costs and expenses of tmgm, fxgiants lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive tmgm and fxgiants are, we first considered common fees for standard accounts. On tmgm, the average spread for the EUR/USD currency pair is From 0 pips, while on fxgiants the spread is from 0.2 .

Which broker between tmgm, fxgiants is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

tmgm is regulated by ASIC,FMA,VFSC. fxgiants is regulated by FCA.

Which broker between tmgm, fxgiants provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48. fxgiants provides trading platform including STP/ECN Absolute Zero,STP/ECN Zero Spread,STP/ECN No Commision,Live Zero Fixed Spread,Live Fixed Spread,Live Floating Spread and trading variety including --.

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