GigaFX Review 2020

General Information

Website URL: https://gigafx.com/

Founded: 2018

Regulation: n/a

Languages: English

Deposit Methods: Credit/Debit Cards (Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK, and Solo), Wire Transfer, eWallets

Minimum Deposit: n/a

Free Demo Account: No

Types of Assets: Forex, Indices, Commodities, ETFs, Cryptocurrencies and CFDs

GigaFX is a Forex broker and its services are available in more than 60 countries. What this broker claims to provide are the most competitive spreads, first-class customer service, high leverage, a lot of new market opportunities, and the highest levels of security.

At the very beginning, we have to say this broker has an excellent website. The interface and User Experience design are clear and responsive. The website is full of details and it is completely optimised. So, no matter the device, you will be able to access it. We have to say, this broker passed the first test, so let’s see what else it offers.

Trading Platform

What people from GigaFX wrote on the website is that each client can enjoy a secure trading platform with multi-platform capabilities. Well, they did not lie since the platform you get is MT4. This is a secure platform that has multiple possibilities and it is one of the best choices.

MetaTrader 4 is always fast and responsive. It has a downloadable option for computers, but you can also find mobile apps and use them on your smartphone. This way you have the possibility to trade always.

Aside from that, this is a customisable platform. This means that you can adjust it according to your preferences and change some things to make it more visually appealing. So, our overall impression is that GigaFX made a good choice.

Account Types

Account types are the part where this broker failed completely. Back in 2018, you could find around four accounts. What happened until then will remain a mystery, but today GigaFX doesn’t provide different accounts. You can search every part of the website and you won’t be able to find anything.

Since this is not a usual situation, we wanted to open an account and see whether we will have the possibility to choose. Well, the thing is, there isn’t an option to create a new account. The only thing you can do is log in to the already existing one.

There is an Open Account button, but it will just take you to the login page, nothing else. Also, the sign-up button also exists but it is not working. So, you cannot find any account type because this broker doesn’t even accept clients.

Customer Support

Customer support is also not something this broker could be proud of. The Contact Center seems unfinished and it lacks some basic information. For example, you cannot know the working hours or where the support center is located. Also, Frequently Asked Questions Page is not provided, and you cannot search for a quick answer if you run into a problem.

The only things provided are telephone numbers for the United Kingdom and Australia and email addresses. No contact form, Live Chat, or any other way for contact. So, unfortunately, GigaFX did not pass the customer support test.

Deposits and Withdrawals

The first step after opening an account is to deposit money. Keep in mind that GigaFX will ask you to confirm the origin of deposited money, so prepare all information.

You can deposit money via Credit/Debit Card. This broker accepts different Credit Cards, which is great. You can use Visa, Delta, MasterCard, Diners, Visa Electron, Maestro (plus Maestro UK), and Solo. Aside from this, you can use Wire Transfer or eWallet.

When it comes to withdrawals, they need to be proceeded with the same method as a deposit. There isn’t a minimal amount for Credit Cards, but for Wire Transfer, it is 10,000 EUR/GBP. Each withdrawal process requires identity verification, so you have to prepare the necessary documents.

The waiting process is quite long, we have to say. First, you need to wait five business days for document review and after that, they have ten business days to transfer the money to your bank account. Aside from this, there is another thing we dislike — the fees. 

We do not have a problem when some broker charges fees, it’s a completely normal and expected thing. But when someone charges them and you have no idea how much they will charge, that is a problem. GigaFX mentioned additional fees, but that is the only information on the website. So, we cannot say we are satisfied with this part.

Education

The last section is education, and this is the part that disappointed us the most. This GigaFX review started positively, with an excellent website and trading platform but it ended up as a complete disappointment since this broker doesn’t provide education.

No blog section, no learning materials, or trading strategies, not even the small glossary. There isn’t a News section, so you can forget about being fully informed.

If we take a look at everything, we have to say that a good website and trading platform are not enough. This broker is not regulated, and it should offer much better things to compensate for the lack of license.