FXGTrade Broker Review

FXGTrade Broker Review
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FXGTrade is an unlicensed forex and CFD broker that seems to target more professional traders with a larger deposit requirement, the classic MT4 platform and a 100% welcome bonus.  The Financial Services and Markets Authority (FSMA) of Belgium has warned investors to not trade with FXGTrade, which it suspects to be a scam. Read our... Read more
FXGTrade is an unlicensed forex and CFD broker that seems to target more professional traders with a larger deposit requirement, the classic MT4 platform and a 100% welcome bonus.  The Financial Services and Markets Authority (FSMA) of Belgium has warned investors to not trade with FXGTrade, which it suspects to be a scam. Read our full FXGTrade review below, which includes our final verdict of whether or not this broker is really a scam.
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  1. FXGTrade is an unlicensed forex and CFD broker that seems to target more professional traders with a larger deposit requirement, the classic MT4 platform and a 100% welcome bonus. 

    The Financial Services and Markets Authority (FSMA) of Belgium has warned investors to not trade with FXGTrade, which it suspects to be a scam.

    Read our full FXGTrade review below, which includes our final verdict of whether or not this broker is really a scam.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!

    Your capital is at risk
  3. FXGTrade Special features

    There are three account types traders can choose from. The first thing to notice here is the massive minimum deposit requirement. The minimum deposit to begin trading with FXGTrade is $5,000, which is not an amount a beginner would ever consider.

    The most common amount required from investors to begin trading with a new broker is $250. This makes us believe that FXGTrade is targeting more professional investors, who look at the platform, conditions and extra features offered when deciding whether to trade with a specific broker.

    An immediate advantage here is that FXGTrade is pretty transparent about the trading conditions offered, giving specific information regarding spread, leverage, minimum trade size and other extra features traders will be provided with each account.

    Check out details of each account type listed below.

    Silver Account

    • $5,000 minimum deposit
    • Leverage: up to 1:300
    • Spreads: from 2.5 pips
    • Minimum FX trade size: 0.01 lots
    • Maximum trade size: 50 lots
    • No commission
    • 5% stop out levels
    • Account manager
    • Expert advisors
    • News trading

    Gold Account

    • $10,000 minimum deposit
    • Leverage: up to 1:300
    • Spreads: from 1.5 pips
    • Minimum FX trade size: 0.01 lots
    • Maximum trade size: 50 lots
    • No commission
    • 5% stop out levels
    • Account manager
    • Expert advisors
    • News trading

    Platinum Account

    • $25,000 minimum deposit
    • Leverage: up to 1:300
    • Spreads: from 0.5 pips
    • Minimum FX trade size: 0.01 lots
    • Maximum trade size: 50 lots
    • No commission
    • 5% stop out levels
    • Senior account manager
    • Expert advisors
    • News trading
  4. Try a simpler way of trading with FXMasterBot

  5. Become an FXMasterBot trader today

    Join FXMasterBot and become a trading master! FXMasterBot is a forex and cryptocurrencies trading software that takes your trading to the next level. It allows you to trade signals on forex pairs like EURUSD or the hottest cryptocurrencies like Bitcoin. You also get the best customer support available. Get your FREE account now

  6. FXGTrade Trading software

    FXGTrade uses the popular MetaTrader4 (MT4) platform, which has a desktop, mobile and web-based version to suit each trader’s needs. MT4 is the most recognizable and popular forex trading platform, so it is definitely an advantage that FXGTrade offers it.

    As mentioned above, it appears that FXGTrade caters to more professional traders, so the choice of MT4 makes even more sense, since MT4 is commonly used by professionals due to its powerful interface and variety of tools at your disposal.

    Now, with FXGTrade, investors will have the ability to trade CFDs in forex, cryptocurrencies, commodities, stocks and indices. The CFD broker does not mention the specific amount of assets available.

    FXGTrade does state that all traders will get a 100% bonus. This is an immediate red flag, because there is no reason a broker would ever just reward you 100% of your profits back with no strings attached. In fact, trading bonuses often come with several strings attached, so always make sure to read the terms and conditions of each bonus offering before accepting it.

  7. If you want to trade with an Automated Trading Robot, we recommended using FX Master Bot

  8. FXGTrade Support information

    You can reach the FXGTrade customer support team via email or the contact form on their website. The broker also gives you the option to request a callback, by leaving your phone number. They claim they will get back to you as soon as possible.

    Unfortunately, there is no live chat option available, nor a FAQ section that could answer many of the most basic questions.

  9. Try a simpler way of trading with FXMasterBot

  10. FXGTrade Payment Methods

    FXGTrade is owned by Bull Big LTD and operated by the company Bortada Equity Limited, based in Bulgaria. The company’s address is Ovcha Kupel Complex, Lilyache Str. 7, Sofia, Bulgaria.

    The broker accepts several payment methods, which include credit/debit card, bank transfer, Yandex money, OKPay, Sofort, iDeal, Skrill and Neteller.

    Verdict: Is FXGTrade a Scam?

    After careful review of the forex and CFD broker, our team has concluded that FXGTrade is likely to be a scam. The company is not regulated, offers impossible welcome bonuses and has a warning issued against them by the FSMA. We therefore cannot recommend this broker and advise traders to choose a different, safer option.

    Check out our list of the best licensed brokers, which have all been fully tested by experts and we stand behind proudly. 

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!

    • Choice of reputable brokers
    • Free forex & crypto signals
    • Advanced trade settings

    Try a simpler
    way of trading
    with FXMasterBot

  12. Your capital is at risk
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