There are currently two FXGiants trading companies. Both were once owned by IronFX, but now one belongs to GVS (AU) Pty Ltd and the other to 8Safe UK Ltd. The FXGiants subsidiary which belongs to GVS (AU) Pty Ltd is based in Australia and is regulated by the ASIC while the FXGiants owned by 8Safe UK Ltd is based in London, England and is regulated by the FCA.
The FXGiants Cyprus registration shows that it is registered under IronFX Global Limited.
It is also important to note that 8Safe UK Ltd, which the UK FXGiants has listed on its, is the rebranded name of the London branch of IronFX, a trading company which has come under fire for withholding client withdrawals.
Besides having two different parent companies, there is no major difference between both brands. Their websites and services are practically the same which is no surprise since they were both owned by IronFX. So from here on out we will be referring to them as one company.
If you are considering registering with FXGiants, then take some time to read our FXGiants scam review before making any final decisions.
FXGiants Customer Support
From our own experience as well as that of numerous people around the net, FXGiants lacks any properly trained customer support staff. This is evident from their lack of knowledge and inability to assist with any concerns clients may have.
On top of this, often times you cannot reach their customer support staff because their lines are always busy and when you do get through then you are put on hold and then put on hold again. It would be a truly frustrating experience for anyone.
One thing we did like was the fact that FXGiants had numerous toll free numbers for different countries to call in. This would have meant savings for clients in other countries, however we found out that this actually has a major downside.
This is how FXGiants is able to target and cold call other people.
Even though FXGiants offers a number of different bonuses (insert link to FXGiants bonus review), they still try other tactics to gain new clients. What is even more unsettling is that they use call centres to cold call people and it is alleged that they pay these call centres at least 50% in commissions.
What does that say about their company as well as their services?
We mentioned before that FXGiants is merely a brand of IronFX no matter what they claim and given IronFX’s tarnished reputation, it best you avoid this broker and if you do engage in business with them then proceed with EXTREME caution.
Continue reading our FXGiants broker review to find out more about this suspicious company.
FXGiants currently offers five different account types for you to choose from.
These accounts are:
- Micro – you are able to choose between a live fixed or live floating spread. However, the minimum is $500 no matter which one you choose. The leverage can range from 1:1 to 1:500 and there are a number of different currencies which include AUD, GBP, EUR and more. There is a Min Lot size at 0.01 and Lot increments at 0.01. FXGiants also claims that you will have a “dedicated” account manager available 24 hours/5 as well as a dealing department transaction hotline.
- Premium – Similar choice between Live Fixed or Live Floating Spread however the minimum deposit is $2500. It also carries all the features as the Micro account except that spread on USD/EUR is as low as 0.7 with the Live Floating Spread and 1.2 on Fixed Spread while the Micro account carries 1.1 on Floating and 2.2 on Fixed Spread.
- 0 Fixed Spread – Similar minimum deposit to the Micro account at $50o as well as leverage and minimum lot size and lot increments however the base currency only includes USD, EUR and JPY. Also a commission is taken on this account and it starts at $18 per Lot.
- STP/ECN No Commission – similar minimum deposit to that of the Micro and 0 Fixed Spread accounts. Similar base currencies to the Micro accounts also however the leverage caps at 1:200 instead of 1:500 but it starts at 1:1. Also there is transaction hotline nor account manager.
- STP/ECN 0 Spread – carries the same features as the STP/ECN No Commission account.
Finish reading our honest FXGiants review to find out about their platforms as well as our final thoughts.
FXGiants offers the MT4 platform optimized for various devices such as MAC and PC along with mobile apps for Android and iOS. They also offer what is known as a Personal Multi-Account Manager (PMAM) which apparently allows you to manage unlimited accounts along with one-click order entry and even real-time monitoring.
This all sounds good in theory but the actual practice of this company is not to be trusted because even if upon registering, you start to profit, you will not actually be able to withdraw any funds.
The FXGiants opinions is that they can withhold your money as long as they see fit and that is not the broker you want to be in business with.
With everything considered, FXGiants is a broker that should not be trusted and if you take the chance of going along with them then proceed with the utmost caution. These guys may not have been officially declared a scam by law but soon enough it will happen. Avoid the FXGiants scam at all costs.