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FXgate Review Forex Broker & Trading Markets, Legit or a Scam

FXGate
Score

2.5/5

Min Deposit

Not Specified

Min Spread

Variable spreads

Regulation

Not Specified

Max Leverage

Not Specified

Live chat, phone, WhatsApp, email
Positive Ratings
40%
Neutral Ratings
30%
Negative Ratings
30%

General Information & Regulation

AspectInformation
Registered Country/AreaNot Specified
Founded YearNot Specified
Company NameFXGate
RegulationNot Specified
Demo AccountNot Specified
Minimum DepositNot Specified
Maximum LeverageNot Specified
SpreadsNot Specified
Trading PlatformsMetaTrader 4
Customer SupportNot Specified

 

FXGate is known as a regulated broker. This means it does not have oversight from major regulatory bodies. However, there is no confirmation about this which can be a concern for some traders.

Market Instruments

FXGate offers no information about the market instruments on the website. This makes it difficult for traders to select the platform as they cannot identify whether the asset they invest in is available.

Account Types

As the website is not available, it is difficult to say whether traders get access to different account types or not. This eliminates the chances of catering to the various needs of traders.

However, the accounts provide varying spreads and leverage, but detailed information on minimum deposit requirements and exact features may require contacting FXGate directly.

Leverage

The platform lacks information regarding the leverage options due to the unavailability of the platform.

High leverage can be a risky option as it allows significant profit but similarly the risk increases.

Spreads & Commissions

FXGate might provide variable spreads, which differ based on account type.

Commissions are generally minimal or nonexistent, depending on the account type, but FXGate’s transparency about fees could be improved to give traders a clear view of the total cost of trading.

Trading Platform

FXGate is known to offer MetaTrader 4 (MT4), the industry-standard platform. MT4 is well-regarded for its:

  • User-friendly interface
  • Comprehensive charting tools
  • Real-time price updates

It claims to provide a proprietary platform that is accessible on both desktop and mobile, though details on its specific features and tools are limited.

Trading Hours

FXGate’s trading hours are designed to accommodate global market schedules.

To ensure accurate trading, traders should refer to the platform for specific trading hours for each instrument.

  • Might have access to the MT4 platform
  • Unregulated Broker
  • No Information on Accounts and Market Instruments
  • Limited Customer Support
  • Sparse Transparency on Fees

Deposit & Withdrawal

FXGate might support several deposit and withdrawal options, including Credit/Debit Cards, Bank Transfers, and E-wallets Likely options include PayPal, Skrill, and Neteller.

The broker does not provide clear information about fees for deposits or withdrawals, so traders should check their account’s terms and conditions.

Customer Support

FXGate customer support is not listed clearly, which makes it difficult to understand the processes on the platform.

Conclusion

FXGate trading platform imposes a lot of risks while trading. The platform does not offer information regarding account types, transactions, market instruments, and customer support.

However, for those looking for regulated platforms, FXGate is not the right option. The lack of information and regulations makes it a scam trading platform.

FAQS

Is FXGate regulated?

No, FXGate is an unregulated broker, which could be a risk for traders.

What trading platform does FXGate offer?

FXGate claims to provide MetaTrader 4 (MT4) and a proprietary trading platform.

What is the maximum leverage FXGate offers?

There is no information regarding leverage options that are available on the platform.

What account types are available with FXGate?

There is no information about the different account types available on the platform.

What spreads can I expect with FXGate?

As the website is not available, it is difficult to tell the spreads on the platform.

Is there a minimum deposit requirement with FXGate?

Each account type may have a different minimum deposit requirement; details are available on request.

Is FXGate customer support available 24/7?

No, FXGate does not provide 24/7 support; services are limited to working hours.