FXGT: Account types and types Features and recommendations Thorough comparison

FXGT offers 5 types of trading account types, each with their own characteristics, so we will compare and explain the differences and recommendations for each in this article. Therefore, the account type you choose will vary depending on your trading strategy, user level, and even trading method. It is best to compare the details before deciding which account type is best for you.

Account type and type

There are five types of accounts operated by FXGT: Each has different characteristics. There are Mini, Standard, Crypto Max, Pro, and ECN, and there are differences in the details of the specifications provided, such as transaction costs, positions, and margin maintenance rates. The way you use your assets will also vary. Please note that some live accounts have their own dynamic leverage, which can be limited to 200x if you have a lot of assets. Choosing an account type is important to get a head start.

Mini

The Mini account is for small transactions anyway. The minimum lot size is 0.01, so it is suitable for those who want to trade with small funds. It can be said that it is for those who do not want to take risks, those who want to trade on a trial basis, and even beginners. The disadvantage is that the number of brands is limited compared to the standard account, and there are fewer brands. It also has the widest spreads of all account types. Therefore, it is suitable for day trading and swing trading. There are even more bonuses.

currency unit is small

With a Mini account, you can trade in units of 100 currencies, and with a standard account, you can trade in larger units of 100,000 currencies, but the trading volume is small, so it is recommended for those who want to trade in small amounts or those who want to trade on a trial basis. is.

lowest spread

For Mini accounts, the minimum spread is 10 pips, which is very low. This is lower than other account types.

Standard+

This account type is the most basic account type and is the account type with an extremely large number of users. This account is also eligible for basic bonus campaigns such as account opening bonuses and deposit bonuses, so it can be said that it is for beginners. The disadvantage is that the spread is wide, but it is very suitable as an account type for beginners and practice. Since the currency unit is larger than the Mini, the risk is slightly higher.

Many trading products

With a standard account, it is possible to trade almost all products handled by FXGT. Therefore, you can rest assured that you will not have any trouble choosing a brand.

Recommended for beginners

For users who are not yet familiar with FXGT, we recommend the standard account anyway. Since you can trade evenly, we recommend this account type until you get used to the basic operations.

Crypto Max

Crypto Max, as the name suggests, is an account type that specializes in cryptocurrency trading. Only this account type can trade more than 70 types of virtual currency. Other account types only deal with about 10 to 20 types. That’s why we specialize in cryptocurrencies anyway. Plus, you’ll receive bonuses exclusive to Crypto Max accounts. The disadvantage is that there is a maximum leverage limit of 500 times. Furthermore, since it specializes only in virtual currency, there are few stocks handled.

Only virtual currencies can be traded

This account type is recommended for those who are particular about virtual currency. FX currency pairs, metals, energy, stock indexes, stocks, etc. cannot be traded at all. This account type is recommended for those who want to trade on Saturdays and Sundays.

Maximum leverage is 500x

This account type has a maximum leverage limit of 500x. However, it is rare to have this much leverage in virtual currency trading. It can be said that 500x leverage is sufficient for virtual currency FX trading.

Pro

As the name suggests, the Pro account is an account type for professional traders. We handle all stocks handled by FXGT, and there are no transaction fees. The ECN account is also an account for professional traders, but the big difference is the transaction fee. In addition, the Pro account has a wider spread than ECN, which is a disadvantage. Plus there are no bonuses. In addition, the loss cut level is set at 40% and the margin call level is set at 70%.

Minimum spread 0.5pips

As the name suggests, professional accounts are for both professional traders and short-term traders. Therefore, the spread is narrow, so it has the advantage of being very suitable for short-term traders and scalping traders.

Margin calls and stop-loss levels are high

Pro accounts have higher margin calls and loss cuts. Therefore, compulsory settlement comes early, so the degree of freedom tends to be somewhat low.

ECN

ECN accounts are for professional traders. ECN is an Electronic Communications Network, and ECN accounts trade directly with electronic exchanges without going through a Forex company, so there is a feature that the execution power is high and orders can be placed at the amount that the trader wants. Furthermore, some currency pairs have a spread of 0, making them suitable for scalping trades.

Transaction fee is $6

The transaction fee for FXGT’s ECN account is $6, which is higher than other account types. An ECN account cannot be helped because other brokers also charge transaction fees.

Minimum spread 0 pips

ECN accounts have extremely narrow spreads. Because the spread is low, it is possible to reduce losses even for those who use a method of repeating trades or when the number of trades increases.

Which account type is recommended?

So, when you actually think about it from a user’s perspective, which account type is recommended? You want to trade under favorable conditions. The applicable size, lot, and cryptocurrency brand vary depending on the type, so it may be better to check the official website before making your selection. It is also influenced by your trading style.

When you want to try trading

If you want to try trading, you can use a Mini account that allows you to trade in small amounts. The currency unit is 10,000 and the minimum lot is 0.01, so you can trade from a relatively small unit of 100 currency units. This is one of the recommended options for first-time investors who have never invested with another company. Even the operating company considers it to be suitable for beginners.

For beginners

If you are a beginner, you will definitely want a standard account. In the case of a standard account, there are quite a lot of products handled, so the specifications are good, and there are no costs, so you can trade in a large number of currency pairs, precious metals, Bitcoin, etc. Furthermore, you can experience all the functions, so it’s a good idea to try them out before using other account types. Bonuses and limited-time campaigns are also adopted, so they are granted.

For virtual currency users

For users whose purpose is virtual currency, it will be a Crypto max account. FXGT only allows leverage trading, but since the leverage is up to 500 times, it is possible to trade with quite high leverage, so it is attractive and highly recommended. It is recommended for intermediate to advanced users with experience, and there are many benefits as you can receive bonuses.

For professional traders

If you are a professional trader, you will have to choose between a professional account and an ECN account. A professional account is an account type with very narrow spreads and no fees, and you can hold a large number of orders. ECN accounts incur trading fees, but the spreads are narrower than professional accounts. This account is most suitable for short-term investments. Let’s try using the service once.

Other account types

At FXGT, the regular account is listed above, but there are other account types as well: Demo accounts allow forex trading and do not use real money, so it is recommended that you use them for practice purposes. There are also corporate accounts as well. These members also get monthly promotions.

demo account

In addition to the above, FXGT has a demo account. Demo accounts, as the name suggests, do not involve any risk of using real money. Opening a demo account is easy. Please log in to My Page and select Open Account from the MT5 button on the home screen.

Choose a demo account.

Please refer to the table above to select your account type.

Please select a base currency.

Please select your leverage.

Finally, set your password. Please do not forget this password. It is absolutely necessary when logging in to MT5. Account opening is now complete. Demo account balance can be reset without trading. If you select “MT5 account” ➝ “Demo”, the information of the demo account you currently have will be displayed. Hover your mouse over the account and you will see a green button that says “Add test funds”. From here, you can add unlimited funds.

islamic account

FXGT handles Islamic accounts. After opening a general account, you can open it separately by contacting the support center. Islamic accounts are an account type exclusively for Muslims, so you will be required to provide proof that you are a Muslim. Islamic accounts tend to have wider spreads, but on the other hand, they are swap-free, so it can be said that the benefits are very large.

Corporate account

FXGT also has a corporate account. In the case of a corporate account, there are a lot of documents to submit, which can be troublesome, but it can be a tax-saving measure. If you are serious about trading, you may want to consider a corporate account.

Frequently asked questions about account types

We have compiled a list of frequently asked questions about FXGT account types. The content is extensive, and you can trade under your own effective conditions. Forex also covers categories from major to minor currency pairs to energy, precious metals, and indexes, so there is a wide range of financial products. We recommend that you start by using the system to select multiple account types in total. You can start with high leverage even in Japan. It is a broker that is ranked high because it is well-balanced.

Is it possible to change the base currency?

The base currency cannot be changed. So what to do is, by opening an additional account and setting a different base currency, you will be able to use multiple base accounts. We have everything you need, and in common there are US dollars, Japanese yen, euros, and virtual currencies, so choose one for yourself.

Can I change my account type?

Account type cannot be changed. By opening additional accounts with different account types, you can reuse various account types. You can use them depending on the environment and trading method. You can add items from the menu depending on the type. If you don’t understand, please ask support.

Is there a difference between a professional account and an ECN account?

The Pro Account is an account type that allows you to trade with no transaction fees and low spreads, while the ECN Account has narrower spreads than the Pro Account but incurs transaction fees. This is the only difference, so it is up to the user to decide which is better. You can trade cheaply with Metatrader. Now, the ideal system has been realized because you can trade optimally regardless of the period. If you understand the basics, you will be stable.

Can I get a bonus with any account type?

Only professional and ECN accounts are not eligible for bonuses. Instead, they have narrow spreads. Other accounts have wide spreads, but many bonuses. If you have already created an account, you can also create a new account. However, as a warning, there are risks involved in buying and selling, and you may lose funds, so please understand this before doing so. In trading, it is important not to incur unrealized losses, and of course to reduce risks.

Overseas FX FXGT's free account opening method and identity verification procedure Thorough explanation of the latest registration method with images

We will explain with images the necessary documents and account authentication procedures to open a new trading account with FXGT, an overseas FX company, how to register an account, and complete identity verification. FXGT is an FX brand that is very popular in Asia, especially among Japanese people. You can open an FXGT account immediately as long as you have identification documents and address confirmation documents. Therefore, there are no fees required, so you can easily open an account.

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2024.06.28