As a new trader who aspires to become a professional trader and make millions, you have to start with the right online broker. You have to realize that your learning skills are only one part of the whole story. In addition to your skills, you have to ensure that you pick the right trading platform and learn from the best in the industry. Not every broker can offer you these features. You might be a great learner, but if your teachers are not the best? In order for you to make successful and profitable trades in the financial markets, you have to be spot-on with your decisions.
In the recent days, GigaFX has emerged as one of the favorite online brokers for traders from around the world. It has won the hearts of thousands of traders who are engaged in trading activities using the broker’s platform daily. However, when you look around, you will find a lot of other brokers offering similar services. If every broker has to give you a platform to access the financial markets, how can they be different? There are many things that make these brokers. In this GigaFX review, you will learn specifically about GigaFX and what makes it a complete broker for any trader.
Introduction to GigaFX and What It Does
GigaFX is one of the many online brokers that help you with a trading platform and the other necessary tools that you need as a trader. Whether you want to be an expert in Forex or buy the best stocks in stock market, you find all those options in one place on GigaFX. The company gives you access to the platform that has all the financial assets and their information on it. You can see the real-time charts to see how markets are performing. In addition to that, you can see leverage, spread, etc. information to create your trading strategies.
GigaFX might not be the oldest broker in the game but it is definitely one of the best. In a short time, the broker has made its customers in more than 75 countries. The number of its traders is fast approaching the 50,000 mark. The increasing number of traders is a sign that people trust the platform and how it works. Of course, it also indicates that GigaFX provides a pleasant and smooth trading experience to its traders. GigaFX happens to be one of the very brokers that have multiple platforms for their traders. With most other brokers, you get only one trading platform, which is often a third party software.
The website has all the crucial safety protocols in place to ensure the safety of information of traders from around the world. As you continue to read the review, you know about many other policies that make GigaFX a very safe online platform for traders from any part of the world.
Introduction to GigaFX Trading Platforms
With some research, you can find out a lot about the trading platforms that most other brokers are using. The most famous trading platform in the world is MetaTrader 4. A huge number of brokers suffice with this platform. Of course, it is the best platform for trading CFDs but it does not mean that further improvements to the trading experience cannot be made. Primarily, you get access to the MT4 trading platform when you sign up with GigaFX. However, there are other options available as well. These additional trading platforms are for the convenience of the traders.
Web Trader is one of the additional platforms that you can use for all your trades. Being on the website, you have to access GigaFX website to use this platform. The best advantage to the web-based platform is that it is accessible from any device and anywhere in the world. You just have to open the website and that’s it. The experience is smooth on desktop and mobile devices. Create an account with GigaFX without putting any funds in your account and you can access the web trader from your mobile device just like you can from your desktop.
In addition to the web trader, you have the mobile application option. This option is for people who want to stay up to date with the latest information from the financial markets. Furthermore, mobile trading is best for those who like to automate their trades. If you did not know, you can automate your trades todays so you don’t have to keep attached with your trading platform to make profitable trades. Just define your criteria and requirements for trades to be executed automatically and they will complete automatically when the requirements are met.
You can download the mobile application on any mobile device. Whether you are using an Android phone or an iPhone, the mobile application is compatible with both. Users who like to have a smooth experience without downloading anything would often go with the web trader. If you want to start trading full-time, it is best that you have the Metatrader 4 platform as well as an application on your mobile device. Doing so will keep you on top of everything so you can pull off profitable trades more frequently.
Trade What You Are Expert At
A common issue that you will face with other brokers is that they don’t have a lot of financial instruments for you to trade. In the end, you are stuck with limited option and you have to reluctantly pick an asset that you are not good at. A broker should bring all the best assets the disposal of the trader so the trade has enough choices. With GigaFX, you get a lot of choices. You can choose from the available indices, commodities, cryptocurrencies, stocks, and foreign currencies. You can always pick the asset that you know the most about. This will guarantee you executing profitable trades often.
Let’s take a look at what you can trade on GigaFX platform.
Indices
Offering indices is not such a special thing. Almost every online broker offers you the opportunity to invest your money in indices. However, you won’t find many brokers who can offer you as many indices as GigaFX does. Using one of the trading platforms, you can invest your money on indices like NASDAQ, SP500, DOW, UCO, TADAWUL, IBEX 35, etc. As you invest your money in indices, GigaFX gives you enough control to go for long-term or short-term trades. There are low margins for your benefits while you have access to the best indices of the world. Use the tools provided by GigaFX to make the most profitable trades.
Stocks
One of the main interests of any new trader is investing money in stocks. Once again, GigaFX does not disappoint you when it comes to the number of stocks available for you to trade. You will find stocks of all the major companies of the world on GigaFX. Just pick the company you know the most about, use the smooth trading platform, and make money off your trades. Stocks are available from all types of companies e.g. technology, automobile, communication, entertainment, food, etc. There is a wide variety of stocks available on the platform such as Facebook Ferrari, Amazon, Apple, Google, Microsoft, eBay, Disney, CAT, etc.
Commodities
Commodities are the easiest things to understand when it comes to trading. However, you have to be well-informed of the information coming from around the world to know the price movements. When it comes to stocks, you are investing in a company and what happens on the other side of the world might not really affect the price of the company. Take the example of Apple. Since the company does not have a huge presence in various Asian countries, it is not affected that much from the conditions changing in those regions. However, commodities such as silver, gold, platinum, etc. are affected by a lot of additional factors.
In addition to the precious metals, you can invest your money in orange, wheat, coffee, corn, and other commodities too.
Forex
Forex remains the largest financial market of the world. It is so big that it even dwarfs the stock market. Despite this market being so huge, so many brokers out there only offer you the big eight currency pairs. Usually, they like to offer you pairs that contain USD, GBP, and EUR. That’s not the case with GigaFX, which is offering its traders with opportunities to trade in dozens of other currency pairs. While many of these currency pairs might be very volatile, there are traders who like to benefit from the volatility of currency pairs to make huge profits. In short, you should have all the options available whether they are stable or volatile. You do get those options when you pick GigaFX as your broker.
Cryptocurrencies
For a long time, people who own cryptocurrencies have wondered what they can do with their digital coins. It is no secret that cryptocurrencies can continue to lose their value after their launch. Even Bitcoin is trading very low these days. This pattern is common with most cryptocurrencies. When the digital coins are launched, they touch the roof of the charts. However, they start falling steadily as the time passes. As a trader, you would want to trade the coins before they lose their value completely and move on to a better and more profitable coin.
You can do that with GigaFX because you have so many cryptocurrencies available on the platform for you to trade. Yes, there are some brokers that have started to offer cryptocurrencies, but they only offer the big currencies like Ethereum and Bitcoin. On the other hand, you can trade Ripple, Litecoin, Bitcoin Cash, and many other cryptocurrencies on GigaFX.
Different Accounts for Different Traders
This is yet another area where a lot of online traders struggle. They try to keep things simple. However, in an attempt to keep things simple, they completely ignore the fact that there are different types of traders. Some might not be as wealthy as others. As a broker, you should be catering to the needs of small traders as well. GigaFX has done a great job in designing its packages. It has four accounts for its traders to choose one from. There are minor differences in these accounts but they can prove to be major differences in the long run.
The most basic account that you can sign up with is called the starter account. If you only have $250 to deposit in the account, you can open the starter account. With this account, you are ready to trade your favorite assets. The website explain this package perfectly by saying that this account is suitable for newcomers who would like to focus more on learning from the trades than on making profits. Too much focus on profits right from the beginning can make you commit to unsuccessful trades as well.
The basic account gives you access to the available platforms on mobile devices and desktops. The basic training is there for you to learn a bit about the market and how it works. In all the accounts, you have a leverage of up to 1:200 available. However, you have to realize that it is the maximum leverage available from GigaFX. The leverage can be different for different assets. For example, you might not be able to enjoy this leverage with most of the cryptocurrencies. The other three accounts that you can sign up with are Silver, Gold, and Platinum.
The biggest account you can open is Platinum that requires you to deposit a minimum of $50,000 funds in your account. In this account, you get a personal trainer to learn everything about trading and financial markets. The spreads are floating with this account whereas they are fixed with every other account. The best thing is that even the beginners can sign up with this account. There is expert level training included with this account. What that means is that you will learn advanced strategies that help you make the most out of your trades. These strategies also work to reduce your losses if things don’t go your way.
There are no discounts available on swaps if you go with the starter package. The maximum discount on swaps is available with the platinum package i.e. 60%. With silver and gold accounts, you get 20% and 40% discount on your swaps respectively. You don’t get to take advantage of the webinars when you sign up with the starter account. However, webinars are available with every other account type. With the platinum account, you can also take advantage of personal trading conditions and bonuses. In a nutshell, you are the one to decide how you would like to trade to pick the account type that suits you best.
Banking Is Easy and Straightforward
The terms and conditions pertaining to depositing funds in your account or withdrawing them are available on the website. You will notice that the broker pays special attention to letting only the legit traders trade on its platform and that’s clear from the policies. For example, the account you use for depositing funds in your account will be the same account in which you will receive your funds. If you have made any profits and you want to cash them out, you will get them back on the same account you had used when depositing. In most cases, GigaFX will use the same currency for payouts that you used at the time of depositing. However, you can talk to the company on the phone if you have any exceptions to make.
Here are some of the methods you can use for depositing funds in your account and withdrawing them.
Wire Transfers
Wire transfers are the most commonly used options in the world. You can use your bank to send money directly to the broker. However, wire transfers can take some time before the payments are processed. You might have to pay additional fees on the transfer as well. You should visit the “deposit and withdrawal” section of the website to get detailed information about banking. The one thing to keep in mind when you are sending money with wire transfers is that the minimum amount you can send is $500. So, even if your starter account requires you to put only $250 in the account, you will have to send $500 if you are using the wire transfer method.
Credit Cards
Credit cards remain one of the fastest ways of transferring funds online. Once again, if you use a credit card to transfer the funds to your account, you will receive your funds on the credit card as well when you withdraw. GigaFX allows you to use a variety of credit cards such as Maestro, VISA, MasterCard, Delta, etc. Yes, with a credit card, you can deposit $250. So, if you are opening the starter account, it would be best to use the credit card method to fund your account. When using a credit card, you cannot deposit more than 30,000 pounds in a month. However, you can use multiple cards to fund your account more.
E-wallets
E-wallets are known around the world for fast transfers and small transaction fees. There are many different types of e-wallets available today. With GigaFX, you can use over 20 different types. However, which ones can you can use depending on your country can be best told to you by a representative from the company.
Cryptocurrency Wallets
Cryptocurrency wallets are a new invention. People who own cryptocurrencies have to store their digital coins in these wallets. GigaFX has made things easy for these individuals if they want to trade other financial assets. They don’t have to take the money out of the wallets, exchange it into some other currency, and then fund their accounts. In fact, they can use their cryptocurrency wallets to send the money directly into their GigaFX account.
Ample Education for New Traders
So, you want to start trading and become a millionaire as soon as possible. However, you cannot bring that dream to realization unless you make profitable trades. In fact, you have to make profitable trades consistently for a long time to be able to make millions of dollars. For that, you need a lot of training. You don’t have to go to third parties for this training and pay huge fees. You can get the required training right on the website. As stated earlier, the training is included in your account type. Even if you pick the start account, there is basic training included in that account as well.
In addition to that, you have advanced and expert level education available with other accounts. You can receive the training in the format that you find most suitable. For someone with lot of time, ebooks can be a great way to learn. They are detailed and cover every aspect of the trading in depth. On the other hand, if you don’t have a lot of time and you want to start trading as soon as possible, you can go for the video-based learning. The good thing is that the training has an in-depth learning section in which you can learn about the many useful trading strategies as well.
You also have access to the knowledge center and personal training in some accounts. Not to mention, a lot of learning comes from the webinars as well. When you start on Metatrader 4, you can also take advantage of the demo account. It simulates a real trading environment and can prove to be the best learning for any trader.
Wide Range of Trading Tools Available
In order for you to trade successfully, you need the help of many trading tools. In fact, these tools are used by the most professional traders as well. The first trading tool that you can look at the website without even opening an account is the economic calendar. On this calendar, you can see all the big economic events coming up. In addition to the events, you can also see what impact they will have on certain assets. Furthermore, you have the market news, which is something every trader should have access to. Trading in the financial markets is all about forecasts, speculations, and predictions.
For you to predict anything, you need to have latest information about it. In the market section, you can see the latest news from the various financial markets. You can see the news and even the expert opinions that are within the news. The news section can give you a lot of knowledge to predict where the prices of a certain asset will go in the coming days. Some of the trading tools from GigaFX are paid as well. You have to open an account with the broker to access those tools. For example, you can receive notifications about the movement of the signals automatically only after you have signed up with GigaFX.
You also have chart analysis and video chart analysis tools available. The pivot calculator is there as well. All of these tools can be a great help in making you a successful trader. However, you have to learn from the experts how to make the most of these trading tools. You can receive that training once you have picked one of the account types and signed up with GigaFX. It is your knowledge of the market, use of tools, and personal predictions that will make you a successful trader. Don’t forget to keep your emotions out of your trades.
A Unique Cryptocurrency Raffle
GigaFX goes the extra mile when it comes to rewarding its traders. If you are an active trader on GigaFX, you can qualify for a bitcoin raffle. There is nothing for you to do other than being an active trader on the platform to be a part of this raffle. The raffle takes place once every month. It has only recently started in the month of September. Every month, the broker uses algorithmic tool to pick one of its traders randomly. This picked user will then receive 1BTC from the broker. Imagine being an owner of the most valuable cryptocurrency in the world. This 1BTC can be a great win for you if your country has not banned its use.
In countries like Canada, Australia, the US, etc. you can use this bitcoin not only to participate in trades but also purchase stuff online. You won’t find any other broker that is currently rewarding its traders with something this unique.
Fairness and Transparency of Trading
One of the things traders expect from their brokers is transparency and clarity in trades. The first thing you will notice about GigaFX is that all the information is clearly available on the website. Whether you want to know about deposits, withdrawal or banking in general, the information is there. The terms and conditions are also clear on the website. However, the most important thing is the AML and KYC policy that GigaFX follows strictly. AML is anti-money laundering policy which the broker has in place to prevent them from using the laundered money on the website.
Any money that has not been earned legitimately should not be invested in trades. GigaFX understands that fully and thus clearly talks about its anti-money laundering policies on the website. Moreover, the broker has KYC, which stands for Know Your Customer, policy in place too. The broker wants to make sure that only the legitimate people are signing up on its platform. People who have stolen other people’s identity for trading are not welcomed by GigaFX. Every user who signs up on the website has to provide proofs of identity. The proof of identity can be presented in the form of driver’s license, a utility bill or something else. A user cannot sign up on the website unless he/she provides this information.
Not only does it make the platform safe for the traders but it also shows that GigaFX cares about transparency and protection of people’s rights.
The Status of Customer Support
The last thing that plays a huge role in your experience with a broker is the customer support. You want to have the feeling that there is someone available to answer your questions when you have queries. In general, you will see brokers giving you a contact form on the website and providing answers in the FAQs section. It does not matter how detailed an FAQs section on the website is, it can never cover all the problems that traders face. And when you don’t have someone to answer your questions instantly, it can get even more frustrating.
GigaFX has a web form for you to contact the company too. However, it also has a dedicated email for any questions related to your account or the services of the company. That’s not it. GigaFX has three different contact numbers on the website as well. If you need help instantly, you can contact on any of these numbers and someone from the company will be there to help you. Customer support is available five days of the week during the office hours. Yes, if GigaFX can somehow make that a 24/7 customer service, there is no doubt it will become the best online broker.
Final Thoughts
You can look at all the points stated above and decide if GigaFX covers everything that is important for traders. From multiple trading platforms and a huge list of tradable assets to top notch customer support, the broker is dedicated to offering the best trading experience to its traders. Since there is a lot of training material available from the broker, you should not hesitate from starting your career today. Anything that confuses you about trading assets can be learned during the trading. Not to mention, you can start with just $250 if you go with the starter account. If you make a list of the most recommendable online brokers in the world, you can easily insert GigaFX among the top 5.