The choice of broker can make the difference between success and failure of a trader. The trading world is a sensitive and volatile one, depending on the asset you trade and you need a platform that can provide you with the latest tools and features without making compromises in terms of quality and security. There are a ton of online brokers who are willing to give you access to different markets, but you need to weigh their pros and cons before making a selection. GigaFX is one of the brokers you will come across when you are after a comprehensive solution for your trading needs.
Four Square International Venture Ltd., which is based in the Dominic Republic, established the broker in 2018. This means that GigaFX is a new name in the market, but in its short tenure, it has stepped into the limelight because it is a secure and robust trading platform that offers the features of the top brokers in the market and does so transparently. The broker has dedicated itself to create a safe and comfortable trading environment for traders of different backgrounds. It has an excellent and flexible user interface and supports multiple trading platforms for the convenience and ease of the traders.
GigaFX wants to provide its customers with what they are looking for due to which it supports the MetaTrader4 trading platform. This is widely used by the best brokers in the market and is in demand due to the useful features it has to offer. It comprises of a ton of graphs and charts that appeal to traders because they can be helpful in making decisions. It can be downloaded with ease and there are absolutely no delays when it comes to trade executions. Plus, Expert Advisor are also available with MT4 so traders can enjoy automated trading if they wish.
For those who are more comfortable in trading via their browsers on laptops and desktop PCs, the option of WebTrader is also provided by GigaFX. In this case, no downloads have to be made and the only requirement to be met is that of an internet connection. It has a cutting-edge functionality and design that makes the interface quite user-friendly and there is no shortage of tools like charts and graphs that can be used for making smart decisions. GigaFX is also aware of the importance of mobile trading these days.
It has become the norm for people to work on the go and sometimes, you have to make executions all of a sudden. If you are not in the office or at home, this could be a problem, but GigaFX has provided support for trading on the go. Both Apple and Android users can benefit from this facility and have access to most of the same tools and features they enjoy on the WebTrader. This can lead to better and more profitable decisions and moves in the long run for traders and provides a world of convenience.
In order to use any of these platforms, traders first need to sign up on GigaFX. The broker has made it easy for anyone to have an account on its platform and the procedure doesn’t take that long. The only thing to remember is that you should have the necessary documents for proving your identity and address. You have to provide basic information such as your name, address, date of birth, phone number and email. Some form of ID such as driver’s license or passport is required for verifying your identity and bank statement or utility bill etc. are needed for verification of address. This information is collected for security purposes.
After you have provided this information, you need to decide what kind of account you wish to open with GigaFX. The broker wishes to be a one-stop solution for all traders due to which it offers you four choices in regard to account type. Each of these accounts are aimed at different traders and provide access to different features and functions to help them in trading efficiently. The minimum deposit requirement is 250 EUR/GBP and these are the only two currencies you can currently use with GigaFX. Even if you fund your account with a different currency, it is automatically converted.
The account options that you will find at your disposal are:
As obvious from the name, this account is designed for anyone who is just getting started. The trading world is a complex one and you want to ease into it rather than jumping into the deep end. GigaFX has equipped this account with the essential features that beginners require including some basic training, a personal account manager, fixed spreads and Expert Advisor. New traders can also benefit from access to market news as well as the Education and Resource center. Hedging is permitted through this account and you can get customer support 24/5 if you have a problem.
This account type was introduced by GigaFX for traders who have some basic knowledge of the market and are interested in learning more by getting additional experience. They get floating spreads and a leverage of 1:100. Webinars can also be accessed, which can provide some valuable information for expanding your knowledge base.
This is for experienced traders who have been in the market for a while and need the services of an Experienced Consultant and one-on-one training to get a step ahead. Daily market alerts are also provided to the as the leverage for this account is now increased to 1:200.
Last, but not the least, GigaFX has created an account option for professional and VIP traders who have considerable experience under their belt and are very ambitious about their activities. This account gives them access to all the possible features and functions that GigaFX has to offer and they can also enjoy a personal bonus, thanks to the huge volume they trade.
Traders can choose to sign up for an account that is in accordance with their needs and budget and doesn’t take them out of their comfort zone. When you have signed up for an account, the next step for you is to decide what you want to trade. Which market do you wish to invest in? Are you interested in a particular asset or you want to diversify your investment and spread it over multiple assets? GigaFX gives you the option of investing in more than 2,200 financial instruments as per your risk tolerance. In fact, it stands out in the crowd of brokers by giving you the choice of investing in Cannabis stocks. Acceptance of Cannabis is increasing all over the globe and even though it is a high risk industry, it also has the potential of offering huge profits. Therefore, GigaFX has given its clientele the option of investing in stocks of some renowned Cannabis companies such as GW Pharmaceuticals, Tilray Inc. and Cronos Group Inc.
Other than Cannabis stocks, GigaFX also gives you the opportunity of investing in stocks of numerous other companies, which include some of the big sports and tech firms. The platform can be used for trading 24/7 and they offer exceptional rates that appeal to traders immensely. Some other assets that you can trade through GigaFX are:
- Cryptocurrencies: Any good broker should definitely give traders the opportunity of investing in one of the hottest financial instruments of the decade and GigaFX does exactly that. It enables you to buy and sell crypto such as Bitcoin, Litecoin and Ethereum instantly and also boasts an easily accessible crypto wallet for your convenience. You can benefit from competitive rates and the leverage is also quite high.
- Commodities: This is also one popular financial instrument that traders like to invest in because they are not as volatile as other markets so they are a safer option for diversifying your portfolio. It gives you tight spreads and a leverage of 1:50, which is quite impressive.
- Indices: If indices are what interests you, GigaFX gives you the opportunity to trade popular and also niche indices. It provides you with index quotes in real-time and traders can also set alerts for price and receive notifications when there is a change. This market offers you trading opportunities 24/7 and the broker offers you advanced index strategy tools to make profitable trades.
- Foreign Currency: Last, but definitely not the least, you can use GigaFX for trading in the foreign currency market. The broker enables you to trade major currency pairs that are widely traded and have high liquidity and low volatility. You can also trade cross currency pairs, which do not include the USD. Lastly, exotic currency pairs can also be traded via the broker and they have wider spreads because they are a tad riskier than other pairs.
No matter what market or asset you decide to trade, GigaFX offers you speed executions to ensure you make the most out of your trade. It does not charge you anything in terms of trading fees or commission so it doesn’t matter how much volume you decide to trade. The broker makes its profits based on the spreads. Nonetheless, one thing to note is that you will be charged a maintenance fee of 10 percent if you leave your account dormant for more than six months. Therefore, it is best to continue using your account regularly and not leave it inactive in order to prevent incurring these charges.
As far as adding or withdrawing funds to your GigaFX account is concerned, the broker offers you variety here as well. Their aim is to ensure that you can make secure and fast payments and withdrawals through their platform due to which a secure payment gateway is used. There is the wire transfer option offered to those who prefer to fund their GigaFX account via the bank transfer method. For withdrawals, it is essential to remember that the broker takes five days for approving a request and then the usual processing time is involved for it to be complete. Apart from wire transfer, credit and debit cards can also be used for funding and withdrawal.
However, one thing to remember is that you need to send a copy of your credit or debit card to verify that it belongs to you. This is typically required when you are signing up for the account on GigaFX. It provides support for multiple cards including Visa, MasterCard, Diner, Maestro, Delta and more so you can use whatever card that suits you. Other than that, alternative payment methods are also available like Skrill, Neteller, etc. Crypto payments in Bitcoin are also being accepted by the broker now, which adds to your convenience.
One of the biggest benefits of GigaFX is its comprehensive education and resource center where you can find detailed articles, videos and webinars on various trading topics. These enrich not just new traders, but can also be immensely beneficial for experienced traders because they are able to get an insight into what experts do and recommend. Moreover, the customer support department of GigaFX is also exemplary as they provide multiple options for traders to reach out to them as per their preference.
First and foremost, they have provided phone numbers for all three of their offices that are based in Estonia, Germany and the United Kingdom. You can use any of these numbers to get in touch with them. If you don’t want to make a call, it is possible to use email as an address is provided or you can also fill out a web form given. They are quick and responsive because they want their customers to be able to trade smoothly.
GigaFX caters to traders in more than 60 countries due to which it has made security a priority to ensure everyone can have a good and flawless experience. KYC (Know your Customer) and AML (Anti-Money Laundering) policies are applied to ensure traders can use the platform without worrying about compromising their personal information.