Table of Contents
Introduction to FXGT
This comprehensive FXGT review aims to dig deep into the broker’s claims, operations, and overall legitimacy. With the surge in fraudulent trading platforms, many traders have raised red flags about a possible FXGT scam. The broker claims to offer CFD trading across forex, crypto, indices, and more—while being registered in Seychelles, an offshore haven known for minimal oversight.
But the question remains: is FXGT a scam or a reliable platform for global traders? Many victims have already lost money, while others are still trying to figure out whether it’s safe to trust this platform. Whether you’ve been scammed by FXGT or are simply suspicious before depositing, this article is your go-to resource for the facts. This FXGT review uncovers all the warning signs you need to know.
FXGT: Regulation & Legal Status
FXGT is operated by 360 Degrees Markets Ltd, which is registered with the FSA of Seychelles. While that sounds official, it’s crucial to understand that registration in Seychelles doesn’t equate to strong financial regulation. This broker is not authorized by top-tier regulatory bodies like the FCA (UK), ASIC (Australia), or CySEC (EU).
Even worse, FXGT references regulatory credibility by claiming to have multiple licenses, yet no official sources confirm regulation under any reputable body. Unregulated or loosely registered brokers often operate without real accountability, leaving traders vulnerable with no legal recourse or compensation mechanisms.
Scams using offshore licenses have been rampant, and FXGT fits this troubling pattern. Learn how to spot a scam broker before it’s too late. The lack of oversight raises serious concerns about whether FXGT is a scam or just a dangerously misleading platform.
Trading Conditions & Platform Analysis of FXGT
FXGT offers various account types, with a minimum deposit starting at $5 for a “Mini” account. While that seems affordable, the broker also advertises leverage as high as 1:1000—an unreasonably high figure that increases risk exponentially. FXGT uses the MT5 platform, which is popular but not exclusive to regulated brokers.
Their spreads and commission structures lack transparency. There’s no proof of liquidity provider relationships or STP/ECN execution. Claims of instant trade execution without slippage are difficult to verify and sound too good to be true. Additionally, there’s no documentation to confirm whether FXGT is holding client funds in segregated accounts.
A good platform alone doesn’t validate trustworthiness. What to check before signing up with a trading platform is crucial knowledge. These gaps make it harder to dismiss the idea that FXGT might be a fraud in disguise.
Reputation & User Reviews About FXGT
On Trustpilot, FXGT has a mix of reviews—many glowing, but most appear vague and overly positive, a pattern common with fake or incentivized testimonials. More worrying are the genuine user complaints that mention withdrawal delays, lack of customer support, and suspicious account blocks.
According to SimilarWeb, FXGT’s traffic comes predominantly from countries with limited investor protections, another red flag. Negative reviews highlight cases of trapped funds and unresolved support tickets. Fake review tactics like copy-paste praises and generic 5-star ratings are all too present here.
In total, the user experience paints a concerning picture. Many have asked: is FXGT a fraud? The real stories suggest there’s plenty of reason to proceed with extreme caution.
How to Test Whether FXGT Is a Scam
If you’re unsure about FXGT, take these actionable steps:
- Verify regulation: Cross-check license numbers on regulator databases like SEC, FCA, or ASIC. FXGT doesn’t appear on any of them.
- Spot red flags: Missing legal documentation, vague contact details, and offshore licensing are danger signs.
- Read genuine user feedback: Use trusted sites like Forex Peace Army or Trustpilot—but filter out suspiciously perfect reviews.
- Test their site: A cheap-looking website, broken pages, or unclear navigation often indicate a low-budget scam operation.
- Withdraw money: Try a small withdrawal—many users report FXGT locks accounts once you request a withdrawal.
- Avoid guaranteed profits: FXGT’s promises of no slippage and near-instant gains are unrealistic.
- Use a demo: If the demo account feels too perfect or doesn’t resemble real trading volatility, be cautious.
Platforms that pass these tests typically prove themselves trustworthy—FXGT raises more questions than answers. For additional verification, you can also use the FXGT profile on Scamdoc.
Final Verdict & Alternatives
After reviewing FXGT’s regulation gaps, user complaints, and vague trading conditions, our conclusion is clear: FXGT is not a trustworthy broker. While they operate under a facade of professionalism, the evidence strongly suggests this is a high-risk, offshore operation with little accountability.
We do not recommend depositing funds with this broker. If you’ve already been affected, consider filing a complaint via the FTC Fraud Reporting Portal.
For safer, regulated alternatives, consider brokers like IG, Pepperstone, or IC Markets—all licensed by tier-1 regulators and offering transparent services. Choosing a regulated broker protects your funds, ensures dispute resolution, and gives peace of mind.
Stay informed, stay safe—and always verify before you invest.