I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].
FXGT

FXGT Account Type | Check the specifications and conditions before opening an account

Introducing FXGT account type.

FXGT is a very popular forex broker for high leverage trading of cryptocurrencies, and trading conditions for other products are not bad as well.
FXGT offers only one account type. You don’t have to hesitate to choose.

In this article, I will explain the specifications and trading conditions of FXGT accounts in detail.

Please read it once before opening an account with FXGT.

This article is recommended for people like
  • I want to know the detailed specifications and trading conditions of FXGT accounts
  • I want to know the precautions for FXGT accounts

FXGT Account Specs

First, let’s see the account specs offered by FXGT.

The color of the part that seems to be a point has been changed.

Let’s take a quick look at what kind of specifications and conditions are different.

FXGT Account
MethodSTP
PlatformMT5
Base currencyUSD,EUR,JPY,
BTC,ETH,XRP,USDT
Contract size1 lot = 100,000
Min trade volume0.01 lots
Max leverage1:500
Margin call80%
Stop out50%
NBP
Min spread1.4pips~
Commission feeX
Lot restriction per ticket50 lots
Max orders100 positions
Swap free
Deposit bonus
Min deposit$10
EA
Scalping
Stop level5.2pips(EURUSD)

Characteristics of each account type

I will briefly explain the characteristics of FXGT account type.

A lot of base currency options

FXGT has a wide range of account base currency options.

You can hold your account currency not only in USD (US dollar), EUR (Euro), JPY (Japanese yen) but also in cryptocurrency.

The cryptocurrencies that can be held are BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), and USDT (Tether).

Bitcoin has been increasing in price recently, but if you keep the balance of your account with Bitcoin, the value will increase without permission even if you are not trading.

However, there is also a risk, and when the price of cryptocurrency goes down, the value goes down as well.

Cryptocurrencies are a convenient way to deposit and withdraw, but be aware that prices can fluctuate significantly.


*Warning:

As of January 2021, Ripple (XRP) trading and deposit have been suspended. This is because Ripple Corp. has been sued by the US SEC and the price of Ripple has dropped significantly.

FXGT Max leverage is 1:500

The maximum leverage of an FXGT account is 1:500.
It is a normal level in forex brokers.

It is worth mentioning that all products can be traded with 500 times higher leverage.

You can trade cryptocurrencies with FXGT, but only FXGT can trade cryptocurrencies such as Bitcoin with a high leverage of 500 times.

FXGT Commission fee is free

FXGT order method is STP, no commission fee is charged.

FXGT Minimum deposit is $10

FXGT minimum deposit is $10.
And deposit fee is free.

You can start trading with small capital with using high leverage.

FXGT Trading plaform

FXGT allows only MT5.

You cannot use MT4.

FXGT Stop out level

FXGT stop out level is 50%.
Margin call is 80%.

FXGT Negative balance protection system

Of course, NBP applies to FXGT accounts.

Does FXGT allow to use EA (Expert Advisor) tool?

Yes, you can use any EA on FXGT.

Does FXGT allow scalping trading?

FXGT does not prohibit scalping trading.

However, the stop level is rather wide.

For example, EURUSD is 5.2 pips.

FXGT is not suitable for scalping.


The FXGT stop level is summarized in detail in the separate article “FXGT Stop Level | Conditions for Scalping, Stop/Limit Orders“, so please refer to that as well.

FXGT Stop Level | Conditions for Scalping, Stop/Limit OrdersI will explain the stop level of FXGT . If the stop level is too wide, it is disadvantageous for trading. You lose the opportunity to make a profit because limit orders and stop limit orders do not be placed. I will also introduce the stop levels of major currencies....

Summary

FXGT has only one account type.

You never hesitate to make a choice, but get more details in this article and take advantage of FXGT.

If you haven’t opened an XM account yet, please open an account by referring to the separate article “How to open FXGT account“.

FXGT | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

\Just 3 minutes!!/
Open an Account

ABOUT ME
KandA
KandA
I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].