FXGT Pros and Cons: 10 Reasons Why Beginners Love FXGT + Key Drawbacks – Glory NewsToDay

Advantages and Disadvantages of FXGT – Top 10 Reasons Why FXGT is Popular Among Forex Beginners

A thorough explanation of the advantages and disadvantages of starting Forex with FXGT!

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There are “10 Advantages of Starting Forex with FXGT for Beginners” and “3 Points of Caution (Disadvantages).”

Advantages of FXGT

The advantages of Forex broker FXGT are numerous.

1. Account opening bonus
2. Bonuses over 1 million yen
3. High leverage of 5,000 times
4. 0% loss cut level
5. NBP support (no additional margin)
6. Recommended professional account by FXGT
7. Swap-free
8. Cryptocurrency FX (Crypto CFD)
9. Minimum deposit amount is 750 yen
10. Japanese staff available
11. Copy trading available
12. Insured

I will explain the 10 advantages and 3 disadvantages of FXGT that I have experienced while trading.

There is a Free Account Opening Bonus to Start Forex

The advantage of Forex broker FXGT is that you can get a free account opening bonus to start Forex.

What is an account opening bonus? The account opening bonus is a bonus you receive just for opening an account. It’s a popular bonus that allows you to start Forex with zero personal funds.

The FXGT account opening bonus is available if you open an account with FXGT for the first time and complete personal verification within 30 days.

Get the Account Opening Bonus here

Why FXGT’s Account Opening Bonus is Recommended Over Others

The account opening bonus from Forex broker FXGT is recommended over other brokers’ bonuses.

• The amount of the account opening bonus is higher
• The spread does not widen even with the bonus
• It’s available even with a deposit of just a few thousand yen
• It doesn’t disappear even if you get a loss cut
• You can withdraw profits without making a deposit

The FXGT account opening bonus can be received in accounts with the highest leverage of 5,000 times, such as the Optimus account. It is not a bonus account, so the spread does not widen, and the loss cut level does not increase.

The profits from the FXGT account opening bonus require a total of 2 GT lots or more and more than 5 trades.

Get a Deposit Bonus of Over 1 Million Yen

Forex broker FXGT offers the advantage of receiving additional deposit bonuses such as 100% deposit bonuses in addition to the account opening bonus.

With 100% deposit bonuses, etc., you can get a total of more than 1.2 million yen at FXGT.

Latest Bonus List↗

Get a Higher 120% Deposit Bonus Instead of 100%

At Forex broker FXGT, instead of a 100% deposit bonus, there’s a chance to receive a 120% deposit bonus.

The CryptoMax account is a specialized account type for trading cryptocurrencies (crypto assets/digital currencies) CFD that does not trade pairs like USDJPY or gold.

If it’s a 100% deposit bonus… If you deposit 10,000 yen, you get a bonus of 10,000 yen, starting trading with a total of 20,000 yen.

If it’s a 120% deposit bonus… If you deposit 10,000 yen, you get a bonus of 12,000 yen, starting trading with a total of 22,000 yen.

If you want to trade cryptocurrencies like Bitcoin, receive the 120% deposit bonus from FXGT.

FXGT’s Deposit Bonus Comes with a Cushion

The deposit bonus from Forex broker FXGT comes with a cushion.

What is a cushion? The cushion feature means that the bonus does not automatically disappear if you get a loss cut or your balance goes to zero yen. In the case of “no cushion,” when the balance goes to zero yen (when the amount of effective margin is lower than the amount of credit) or you get a loss cut, the bonus automatically disappears. In the case of “with a cushion,” even if you lose down to a zero balance, if credit remains, you can trade with just the credit.

All deposit bonuses at FXGT come with a cushion.

List of Campaigns↗

FXGT Offers a Maximum Leverage of 5,000 Times

The advantage of Forex broker FXGT is the high leverage of up to 5,000 times.

With a leverage of 5,000 times at FXGT, you can place orders with a margin that is 1/200 of the margin required when placing Forex orders with domestic brokers.

How to Set FXGT’s Leverage to 5,000 Times

To trade Forex with a high leverage of 5,000 times at FXGT, you need to meet the trading conditions.

• Total of 5 GT lots or more of trading
• 8 trades or more

5 GT lots refer to 500,000 USD. For USDJPY, a total of 5 lots; for gold (1 ounce at 2,500 USD), a total of 2 lots; for Bitcoin (100,000 USD per piece), a total of 5 lots.

Once you meet the above leverage release conditions in the Optimus account at FXGT, you can change to a high leverage of 5,000 times.

High Leverage of 5,000 Times Here

Examples of Required Margin for USDJPY by Leverage Ratio

Here are examples of the required margin for ordering 1 lot of USDJPY at a price of 150 yen per USD, by leverage ratio.

“The high leverage is dangerous, so in Japan, a maximum leverage regulation of 25 times is in place,” but FXGT supports NBP (no additional margin), so there is no risk beyond your own funds.

Forex broker FXGT can place orders with less margin the higher the leverage.

FXGT’s Loss Cut Level is 0%

The advantage of Forex broker FXGT is that the loss cut level is 0%.

At FXGT, the loss cut level is 0%, so you can continue trading until the deposited balance and credit (bonus) reaches zero yen.

If the loss cut level is 100% If you place an order with a margin of 1,000 yen, you will be loss cut when the remaining funds reach 1,000 yen (margin of 1,000 yen × 100%).

If the loss cut level is 50% If you place an order with a margin of 1,000 yen, you will be loss cut when the remaining funds reach 500 yen (margin of 1,000 yen × 50%). After the loss cut, 500 yen remains.

If the loss cut level is 0% If you place an order with a margin of 1,000 yen, you will not be loss cut until the remaining funds reach 0 yen (margin of 1,000 yen × 0%).

FXGT is considered to provide a good trading environment and conditions with a lower loss cut level.

Open an Account (Free) Here

Loss Cut Level by Account Type at FXGT

The loss cut level at FXGT varies by account type.

The loss cut level at FXGT varies by account type, but it is low at 50% or less.

FXGT Supports NBP (No Additional Margin)

The advantage of Forex broker FXGT is that it supports NBP.

There are stories of “Forex is dangerous” or “Bankrupted by Forex,” but FXGT is a global standard broker that supports NBP, so traders do not face the risk of dangerous debts.

Open an Account (Free)↗

NBP Supported Accounts and Domestic Accounts in Japan

FXGT is a foreign Forex company, also referred to as an account.

The so-called domestic account or “Domestic Forex Broker (Domestic Forex Broker/Company)” in Japan is non-supportive of NBP in accordance with the rules of the Japanese Financial Services Agency.

FXGT is labeled as risky and has high leverage regulation in Japan, but since it supports NBP, traders are not exposed to the risk of dangerous debts.

Pro Account with Narrow Spreads and No Trading Fees

The advantage of starting Forex with FXGT is that you can choose a Pro account with narrow spreads and no trading fees.

What is a Pro Account? A Pro account is a high-tier account type with narrow spreads and no trading fees. It has the same no trading fee structure as the Standard account, but with narrower spreads, it is set for easier winning trading conditions.

Here are the spreads and trading fees (buy-sell fees) for each account type selectable at FXGT.

The exchange rate for USDJPY is calculated at 150 yen per USD in this table.

The lowest trading cost at FXGT is in the Pro account.

Pro Account Here↗

Pro Account Recommended by FXGT

Among the account types available at FXGT, the “Pro Account” is the account type recommended by FXGT.

• No trading fees with narrower spreads than the Standard
• Longest swap-free period of 6 days
• Depositable from less than 10,000 yen, starting at 7,500 yen (equivalent to 50 USD)

The Pro account is a popular account type first offered by the Forex broker exness, and with FXGT, you can use a Pro account from less than 10,000 yen.

FXGT Offers Swap-Free Trading for Japanese Traders

The advantage of starting Forex with FXGT is that Japanese traders can also trade Forex swap-free.

What is Swap-Free? Swap-free means that no swap points occur even if you don’t settle by the next day. If it’s not a swap-free Forex account, you gain profit from positive swap points if you don’t settle by the next day, and you incur losses from negative swap points. With swap-free, you can trade without worrying about swap points.

At FXGT, you can trade swap-free for up to 6 days from the order.

Swap-Free Here↗

The Swap-Free Period at FXGT is Up to 6 Days

The swap-free period at FXGT varies by account type.

For example, if you place an order for EURUSD in FXGT’s Pro account on a Monday morning, swap points transfer will occur from the following Monday morning.

You can check the swap-free target instruments and periods at FXGT on the My Page (fxgt.com) and others.

FXGT Allows High-Leverage Trading in Cryptocurrency FX

The advantage of Forex broker FXGT is that you can also trade cryptocurrency FX at high leverage.

FXGT’s cryptocurrency FX (crypto asset CFD) leverage is the highest in the world.

At FXGT, you can trade cryptocurrencies like Bitcoin in the same trading account that you use for FX like USDJPY, as well as gold, oil, and the Nikkei stock index CFDs.

Start Cryptocurrency FX

Cryptocurrency FX (Crypto CFD) Trading Environment, Conditions, and Rules

Here are the cryptocurrency FX trading environment, conditions, and rules at FXGT.

With FXGT, you can also scalp cryptocurrencies.

FXGT’s Minimum Deposit is 750 Yen (Equivalent to 5 USD)

The advantage of starting Forex with FXGT is that you can deposit from a small amount of less than 1,000 yen.

Here are the results of verifying whether you can really start Forex with 1,000 yen at FXGT.

If you are a Forex beginner who is “new to FXGT,” “new to high leverage,” or “new to Forex,” first open a free demo account with FXGT.

Demo Account (Free) Here

Deposit Methods Available at FXGT

Here are the deposit methods available at FXGT.

• Bank Transfer
• Card Payment
• ApplePay
• GooglePay
• Cryptocurrency
• BitWallet
• SticPay

The most popular deposit method at FXGT is bank deposit. The transfer fee is borne by the trader.

List of Deposit and Withdrawal Methods↗

FXGT Supports Credit Card Deposits

FXGT is a Forex broker that supports card payments.

You can deposit into FXGT using credit cards or debit cards such as VISA, Mastercard, and JCB.

Unlike some recent FX brokers like Vantage, where card payments incur trading fees, FXGT’s card deposits are currently free of deposit fees.

FXGT’s Japanese Customer Support Includes Japanese Staff

The advantage of Forex broker FXGT is the full Japanese support.

The most convenient way to contact FXGT is through tickets accessible from the My Page (fxgt.com).

Account Opening Page (Japanese)↗

Business Hours of FXGT’s Japanese Customer Support

The business hours for FXGT’s Japanese customer support are 24 hours a day, 365 days a year.

The business hours may change during major Japanese holidays such as New Year’s, Christmas, Golden Week, Obon, and Silver Week.

FXGT’s Japanese customer support includes Japanese staff. Traders who do not understand English can also inquire in Japanese with peace of mind.

Disadvantages of FXGT

Forex broker FXGT has three disadvantages.

• Still an emerging broker
• Be aware of leverage restrictions
• High trading costs

If you feel unsure about FXGT hearing that “FXGT is bad” or “FXGT is dangerous,” start with just the account opening bonus that allows you to start Forex without any capital.

Get the Account Opening Bonus Here

FXGT is an Emerging Broker – Started Operations at the End of 2019

FXGT is a Forex broker that started operations at the end of 2019 by former staff of XM.

Popular & established Forex brokers like XM (XMTrading), exness, IronFX, and HFM (HFMarkets) have been operating since around 2010 and have over 10 years of performance.

FXGT’s management and Japanese customer support are relatively stable compared to various emerging brokers. Compared to emerging brokers, there are quite few withdrawal issues.

Year of Establishment & Business Performance of Forex Brokers

FXGT has moved beyond the unstable period as an emerging broker and is directionally set up well for traders as both a bonus broker and a low-cost broker.

In the Forex industry, new Forex brokers (emerging brokers) tend to have various shortcomings and gradually either improve or become stricter in a negative direction.

Three Leverage Restrictions at FXGT

Although FXGT offers a maximum leverage of 5,000 times, it’s not always possible to trade with this leverage.

Here are the details of FXGT’s leverage restrictions.

• When effective margin increases
• Before and after the announcement of important economic indicators
• Before and after the date changes
• By account type
• By instrument
• By trading performance

FXGT’s leverage restrictions have become a complex system similar to that of exness, originating from dynamic leverage that occurs based on the number of lots ordered.

At times, even FX currency pairs may experience leverage restrictions that reduce leverage to 200 times, so always check the latest information on leverage restrictions on My Page (fxgt.com).

Proceed to FXGT Details↗

Account Type and Leverage at FXGT

Here is a list of leverage for each account type at FXGT.

At FXGT, the leverage you can set changes with the account type.

Instruments and Leverage at FXGT

Here is a list of leverage for each trading instrument at FXGT.

At FXGT, you can trade 28 FX currency pairs, including USDJPY and EURUSD, with high leverage of 5,000 times.

You can experience 5,000 times high leverage for free in the FXGT demo account. (Please note that specifications may change without notice.)

Demo Account (Free) Here↗

Effective Margin (Deposit Amount) and Leverage at FXGT

Here is a list of the amount of effective margin and leverage for each trading account at FXGT.

Traders who deposit more than 150,000 yen in FXGT’s Optimus account to trade with 5,000 times high leverage need to be cautious.

FXGT is a Bonus Broker, So Trading Costs Are High

FXGT is categorized as a high-cost Forex broker, known as a bonus broker.

What is a Bonus Broker? A bonus broker is a Forex broker that, while offering account opening bonuses and such to reduce your own capital, has wider spreads and higher trading fees. Well-known bonus brokers include XM and FXGT, IronFX, and others.

What is a Low-Cost Broker? A low-cost broker is a Forex broker that, while having narrower spreads and lower trading fees, does not run campaigns to reduce your own capital with account opening bonuses. Well-known low-cost brokers include exness and AXIORY, and others.

It’s not that “bonus brokers are bad, low-cost brokers are good,” but rather you should use a Forex broker that suits your trading characteristics.

Get the Account Opening Bonus Here↗

What Are Trading Costs? What Does It Mean That They Are High?

When they say “Trading costs at FXGT are high,” they are referring to spreads and trading fees.

Spreads are better narrow than wide, but those of FXGT and other bonus brokers are generally wide. Narrow spreads mean slight movements can more easily turn into profits, thus potentially increasing your earnings.

Trading fees (buy-sell fees) are better low than high, but those of FXGT and other bonus brokers are generally high. You lose a portion of your profits to trading fees at the time of ordering and settling (increasing your losses).

Spreads and trading fees at FXGT vary by account type and instrument.

Moreover, trading fees at FXGT are usually free, but they do occur uniquely in the ECN account.

Comparison of USDJPY Spreads Between FXGT and Other Brokers

Below is a comparison table of USDJPY spreads between FXGT and other popular Forex brokers.

The above USDJPY (USDJPY) spread is for the no-transaction-fee Pro account specification.

The spread at FXGT is a variable spread that changes depending on the market conditions.

Get the Account Opening Bonus↗

Comparison of Transaction Fees for Top Accounts Between FXGT and Other Brokers

Below is a comparison table of transaction fees for top accounts for USDJPY between FXGT and other popular Forex brokers.

The transaction fee at FXGT is unique to the ECN account and is a special trading cost.

For Forex beginners, the transaction-fee-free Optimus account and Standard account, where you can get a bonus, are popular.