In the era of home-based jobs and remote working capability, people are always on the hunt for a way to create an extra source of income other than their regular jobs. Different people take different routes. Some people choose to do non-technical yet labor-inducing work from home. Others try to start their own online businesses. Then there is a group of ambitious people who are aiming for something special. These are the people who want to become professional traders right from the comfort of their homes. Being a professional trader gives them the best route to becoming a millionaire, if they do things the right way.
When it comes to trading from home, your first step has to be to choose the broker. It is the broker that provides you the platform that you need for trading in the financial markets. The purpose of this platform is to train you as a trader, simplify trading, give you access to trading tools, and help you conduct successful trades. The choice of the broker is the most important step in any trader’s career. In the recent days, a lot of traders have picked GigaFX as their broker to access the financial markets. What made these traders take this decision? Let’s find out in this GigaFX review.
GigaFX is an online broker that gives people from around the world an opportunity to be a part of the financial markets. Traders from various countries use this platform every day to trade indices, commodities, cryptocurrencies, foreign exchange, etc. The company is one of the best brokers on the internet, providing its services in 76 countries. It has more than 46,000 traders that trade actively on the platform. GigaFX provides trading platform as well as the knowledge to the traders so they can become professional traders.
Safety for Traders
There is a special focus on safety and compliance by the company that should be a relief for traders who are skeptical about online brokers. The company is strictly against any players who engage themselves in money laundering. If the broker finds out that a player is using the platform with laundered money, it has the right to suspend that account. In addition to that, the broker also states clearly about its compliance with the legitimate financial laws that are present internationally. To make the platform safe, every player has to go through some screening before they can register officially on the website.
As you become a registered trader on the platform, you should rest assured that no other corrupt entity is using it. The broker supports and promotes the KYC (Know Your Customer) policy. Due to strict compliance and KYC rules, the broker will require a lot of information from you before you can start trading on the platform. You might have to submit proofs of documents such as your utility bill, driver’s license, bank statement or any document that proves your identity. While it might seem a lot of work in the beginning, it is definitely for the safety of the company as well as other customers.
The Trading Platforms
One of the things that make GigaFX special is that it provides its traders with all the different types of platforms for trading. Each trader can have different preferences with a trading platform. Some of the best brokers out there either push their own platform on their traders or have only one third party software that can be used. If traders ask for another option, those brokers usually don’t have any. On the other hand, GigaFX has all the different types of platforms that traders can use based on their preferences.
The first is the MetaTrader 4 trading platform. If you browse around and check a few brokers, you will realize that MetaTrader 4 or MT4 is the most popular and loved platform in the world for trading. Before you trade on this platform, you have to download it on your device. The software is available for free and it is the best platform that the world of CFD and futures trading has to offer today. Within the platform, you will find all the options and functions that help you trade safely and successfully.
While MetaTrader 4 is the best platform for trading, not everyone is okay with the idea of downloading a software tool on their device. People are not comfortable with the idea that they will have to download something on their computer. Not to mention, when you download the software on your computer, you can only access it from that computer. What would you do if you want to access your account while you are outside? That’s where Web Trader comes into the picture. This is a web-based platform, which is quite intuitive. Additionally, you can access it from any device in the world if you only have an internet connection.
This is the application designed to give you the best trading experience on mobile devices. It does not matter how smooth the web trader is, it can never beat the smoothness of an application on a mobile device. Whether you are an iOS user or an Android fan, you can download the platform on your mobile device and be in the know of everything on the go.
In short, you have all the different trading platforms available that can help you stay on top of your trades. The more actively you are in the market, the more you know how things work. It is your knowledge of the market and its small movements that turn you into a professional trader.
This is yet another strength of GigaFX. The broker provides you access to almost any type of financial asset you want. Here are the financial assets that you can trade on GigaFX platforms:
You get a lot of instruments to trade within these categories. Let’s take a look at some of the financial instruments the above-mentioned categories that you can trade using one of GigaFX trading platforms.
· IBEX 35
· And many more
· And many more
· And many more
· And many more
· And many more
Now, you can see that the possibilities are nearly endless when you trade with GigaFX. It is amazing that the broker has so much to offer to its traders. With these many options, every trader can trade only what he/she understands the best. If you think you know about silver, trade silver on the platform. If you are a new investor with an eye on the future, you can just pick cryptocurrency trading.
Trader Account Types
Now, when you are about to sign up with an online broker for trading, you want to know the different account types that you can access. The best brokers try to give as many options as they can to their traders. If you are a new trader, you are expected to not have a lot of money. The broker you choose should have an account that’s specifically designed for you and the size of trades that will be suitable for your budget. Once again, GigaFX does not disappoint you at all and offers you four different account types with their attractions.
The four different account types that you can choose from are as followers:
You can tell from the names which account type will suit which trader. Starter is the most basic type of account that you can open with GigaFX. The best thing is that there is no restriction on which platforms you can access with this account. You still have access to mobile application, web trader, and the MT4 trading platforms. You will also receive basic training so you know how to execute profitable trades.
Knowledge center access, hedging, and leverages are all common in all account types. Beginners should be happy that the broker has not decided to deprive the newcomers from the most basic yet important features. With other brokers, you are deprived of the most important features of your account so you are indirectly forced to open a big one. What you will love about the starter account is that you can be up and running and trading with a small deposit of just $250.
The 1:200 leverage is available the professional account holders, but the same is available for starters as well. This allows new traders to control big trades and amplify their profits. With the platinum account, the minimum deposit in your account has to be $50,000. In exchange for depositing such a sum in your account, you get 60% discounts on any swaps that you choose with GigaFX. There is only a 20% discounts available on swaps for silver account holders. Personal bonus is only available for platinum account holders. Similarly, only gold account holders can enjoy free one-on-one training as well.
Deposits and Withdrawals
Depositing funds into and withdrawing them from your account are easy processes with GigaFX. The best thing is that you have almost all the safe options available not only for depositing but for withdrawing your money as well. The first thing you have to keep in mind is that you should withdraw the funds using the same card or bank account that you had used while depositing the funds in your account. This is for the safety of all the users and to prevent money laundering from taking place on GigaFX. There can and cannot be deposit and withdrawal fees depending on the channel you use.
Furthermore, the processing times can be different for different methods of depositing and withdrawing. The policies are different for the funds that you have deposited in your account and the non-deposited funds. Any bonuses that you earn from GigaFX or profits you make on your trades are non-deposited funds. You should take a look at the terms and conditions around these funds to know how you can withdraw and use them. Another thing to remember here is that you can only withdraw funds in the currency that you had deposited the funds with. Yes, you can call to place a different request if you want to but the broker will give you the final confirmation.
You can deposit funds in your account using wire transfers or credit and debit cards. In addition to that, you have the e-wallet options available as well. You will not have to encounter any limited choices here either. The broker accepts funds through more than 20 digital payment deposit services. Just find the one that you have always trusted and use it for depositing your funds. Taking things to the new level, GigaFX has also started to accept payment made through crypto-wallets. If you own cryptocurrencies and want to use them to fund your account, it is now possible with GigaFX.
The terms and conditions for depositing funds and withdrawing them are clearly stated on the website. It is good on the broker’s part that it has made all this information easily available on the banking page. You don’t have to do any guesswork, and you don’t have to be skeptical about your deposits and withdrawals when all the information is available at hand.
You don’t usually find brokers that allow you to trade using cryptocurrencies. You must realize that cryptocurrencies have not been accepted all around the world yet. Some countries have actually completely banned the use of these currencies. However, countries like the US, Canada, Australia, and the many European regions do not have any strict policies banning you from trading cryptocurrencies. If you want to use the digital coins that you own for increasing your worth, you can do so by trading them on GigaFX. What’s even better is that you have plenty of cryptocurrency options available on the platform.
Cryptocurrencies are always going up and down. Every now and then, there is a new currency that makes a huge impact. If you want to stay on top of your investments then GigaFX is the right perfect way for you to trade cryptocurrencies. You can trade just about any cryptocurrency including but not limited to Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash Coin, Ripple, etc. You don’t necessarily have to trade these digital currencies against the USD only. You can trade them in exchange other currencies such as GBP, and EUR.
You will be glad to know that there is some extra attraction for those who own digital coins on GigaFX. The broker now runs a raffle for those who are actively participating in trades on one of the GigaFX platforms. These active traders are entered into a raffle automatically. Afterwards, one name is randomly picked every month for a huge prize. That prize is 1BTC that is given to them for free as a raffle prize. The promotion began in September and is now available for the active traders. So, while you trade with the broker, you get a chance to own some Bitcoins as well.
It is important that you visit the trading platform section of the website to check information on various cryptocurrencies. On most occasions, the leverage is 1:1 for cryptocurrencies. However, it can change time to allowing you to control big trades and make the most of the digital coins that you own. Depending on the currency, the lot size can also change. You can check the lot value on the trading platform on the website as well.
Training and Education
This is one area that matters to the new traders a lot. While it may seem on the surface that way but trading is not that straightforward. You have to a learn a lot of things before you can start trading in the real market. One way for the broker to help you with the training is to let you trade on a demonstration account. However, that’s not enough for every player. If you want to learn the true basics of trading the financial assets and profit from them, you need special training. That’s where GigaFX differs from a lot of other broker. It provides you all the training you need in a format that is easy for you to understand.
First, when you choose to deposit funds in your account, you have access to the basic training material. This basic training material is available to you even if you have opened a starter account. The training can be given to you in the form of videos and ebooks. However, you will have to log in to your account to access any of that. The in-depth learning section of the website contains information about everything that you will need to trade successfully. It starts with the beginners course so you can understand the basics of the financial market that you want to trade in.
It gives you a lot of information about the trading tools. It teaches you what commodities and other financial instruments are. Most importantly, the training also contains lessons on the various strategies that you can incorporate in your trading career to make your trades profitable. However, keep in mind that the one-on-one training, which is the most effective way of training someone, is only available when you open the gold account. If you go for the platinum account, you can also take advantage of the personal trainer. In short, you will trade as a well-informed trader when you pick GigaFX for your trading needs.
No broker in the world can claim to be the best without great customer support. No matter how smooth the platform is and how straightforward the rules of trading may sound, you will encounter problems down the road. And when you are in trouble, you need a professional to help you with your problem. Does GigaFX take the responsibility of helping you when you are having issues as a trader? Yes, the company is ready to help you in whatever way it can so you can focus in trading rather than worrying about why your account is not working.
You have an email address available on the website where you can send your inquiries to get help. If emails don’t sound that great to you because they need time, you can simply call the company on one of the three numbers that are available on the website. The customer support team is available to help you with your concerns during the working hours i.e. 9am to 5pm. You can even use the contact form on the “contact us” page of the website to send in detailed inquiries about your matter.
Summarizing the Best GigaFX Features
Let’s look at all the best features of GigaFX and collect the reasons why you should prefer this broker over many others available on the internet.
The List of Tradable Assets
The first impressive thing about GigaFX is that you get to work with a long list of trading instruments. You can trade indices, commodities, currencies, and even cryptocurrencies using one of the platforms from the broker. With so many choices, you are free to pick an asset that makes the most sense to you. If a particular asset does not make sense to you and you can’t understand what factors affects its value, you don’t have to trade it just because you don’t have many other options available. With GigaFX, you definitely have a lot of options available on any given day.
The Many Account Types
When you are stepping in the trading world for the first time, you want to sign up with a broker that you believe cares about you. In most cases, you don’t find brokers that have designed their accounts in your benefit. Their accounts are all about making the money off the traders. On the other hand, you can notice in the four account types available from GigaFX that their s a lot of attention given to the new traders. First of all, there is no discrimination between new traders and those with platinum accounts when it comes to the leverage. You have a leverage of 1:200 available as soon as you open an account.
Another thing that can worry traders is the amount of money they have to deposit to open the account. You don’t have to deposit thousands of dollars in your account just because you want to trade and stabilize your future. You should be given a chance to learn things before you can put a lot of money on the line. GigaFX allows you to open the most basic account with just $250. Anyone with a job can save that much money to open the account.
A broker can decide to let anyone open an account and deposit funds. In the end, the broker benefits from its traders trading on the platform. However, that’s not the case with GigaFX. This broker pays special attention to keeping its platform as free from corrupt people as it can. The know-your-customer and AML policies make GigaFX a platform that most money launderers would like to avoid. They know that they will be caught in the act while trying to launder the money using GigaFX platform. The broker requires you to submit proof of your identity. In addition to that, there are several deposit and fund withdrawal policies that are there to thwart any money laundering activity on the website.
In addition to that, the broker works under the supervision of an entity that is licensed. They even have a physical location, which is something that fraud brokers don’t have. They only have an online presence but if something wrong goes with your money, you have no place to go to.
Variety of Trading Platforms
The number of trading platforms available to you is another plus for GigaFX. You understand that different traders can have different preferences of trading. Some old gentlemen are happy with the idea of trading from the comfort of their homes. They like to sit in front of the computer, use the many tools, and execute trades. On the other hand, some people are so busy they can’t manage time to sit in front of the computer. They like things automated and in a portable form. So, automated notifications on the situation of the market and portable platform are the solution for these people.
The web trader platform can be reached from anywhere in the world using an internet connection. Since it is based on the website, you don’t require any downloads to use this platform. MetaTrader 4, on the other hand, is a software tool that you have to download on your device to use it. The company still has it available because it is the best trading platform to exist in the world. In addition to that, the company has developed its iOS and Android application. Now you can download the application and trade whenever you want.
Availability of Cryptocurrency Trading
Until the position of cryptocurrencies becomes clear around the world, many brokers don’t want to take the chances of letting their traders trade cryptocurrencies on their platforms. However, there has to be someone who should cares about people who own digital coins. GigaFX has done a great job of introducing cryptocurrencies on its platform. Today, you can trade any cryptocurrency you want for British Pound, Euro or the USD. More importantly, the broker wants to promote the use of digital coins and has a raffle on its website to rewards its active users. Just keep trading on the platform and you will be automatically entered in a Bitcoin raffle. If it is your name that is picked randomly, you will be the owner of 1BTC.
Fairness in Banking
You can visit a few online broker websites to know how they are often reluctant to talk about the banking details. On some of the websites, they try to use difficult language that most traders might not even understand. On the other hand, GigaFX has two pages dedicated to the banking information. The “banking” and “deposits and withdrawals” pages on the website are there so you know how you can deposit your funds and what methods you have available to withdraw them from your account.
Here, it also should be mentioned that the broker has given you lots of options to deposit funds in your account. If you are not okay with wire transfers, which happen to be the safest method of transferring funds, you can use your credit card. If you want to keep away from providing your credit card information, you have the e-wallet options available on the website too. Pick your favorite method from 20 available to deposit funds in your account. In the end, you have the cryptocurrency wallet option available. If you own digital currencies, you can use the money directly from your wallet to fund your trading account.
When you compare GigaFX with other brokers, you can clearly tell that this broker has all the ingredients that make it great. It cares about its traders and wants to bring the best of the trading world to them. It deserves admiration for its web trader, MT4, and mobile trading platforms. Some improvement can be made in the customer support section. The leverages are great and the Bitcoin raffle sets GigaFX apart from any other broker out there. Not to mention, it operates under a licensed company and follows the best KYC and AML policies. If you want to trade with the peace of mind, GigaFX is definitely a recommendable broker for that.