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FXGT Minimum Deposit

Accepts South African Clients

FXGT is a popular broker operating worldwide, including in South Africa. The minimum deposit required by a broker can be a significant hurdle. Luckily, there are brokers like FXGT in the market that offer traders a low entry point into online trading. In this quick article, we will look at the minimum deposit accepted by FXGT. We will be looking at the FXGT minimum deposit in USD for international clients and in ZAR for South Africans. We will also be reviewing some of the features offered by this broker.

FXGT’s Minimum Deposit

FXGT features one of the lowest minimum deposits. With this broker, traders can start investing with a small deposit of just $5. An added advantage for South African traders is that they do not have to convert any money while making deposits and withdrawals. This is because this broker supports the South African Rand (ZAR) as one of the account base currencies. The $5 minimum deposit is approximately equal to 92 ZAR, at the time of writing this.


However, when using ZAR, there are only two payment methods that support this currency. Each of these has different minimum deposit requirements. Additionally, the other payment options that do not support the ZAR also feature different minimum deposits each. Let’s take a look at the summary of the minimum deposit requirements per deposit method, their supported currencies, and the approximate ZAR value.

Risk warning: Remember that forex and CFDs available at FXGT are leveraged products and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

FXGT Deposit and Withdrawal Methods

Here are some of the deposit methods supported by FXGT and the minimum deposits under each of the methods.

Deposit Method

Currencies Supported

Minimum Deposit

Equivalent in ZAR

Processing Time

Bank Wire

ZAR

100 ZAR

-

2-5 Business Days

Electronic Funds Transfer

ZAR

250 ZAR

-

Instant

Sticpay

EUR 

USD

5 EUR

5 USD

100 ZAR

92 ZAR

Instant

Neteller

EUR

USD

5 EUR

5 USD

100 ZAR

92 ZAR

Instant

Skrill

EUR

USD

5 USD

5 EUR

100 ZAR

92 ZAR

Instant

Perfect Money

EUR

USD

50 USD

50 EUR

1010 ZAR

935 ZAR

Instant

ZotaPay

USD

15 USD

277 ZAR

Instant

FasaPay

USD

10 USD

185 ZAR

Instant

FXGT does not charge any fees on deposits. Additionally, this is not the full list of all the deposit methods supported by the broker. Some of the other payment options include Crypto, Binance Pay, and BitWallet. 

While the minimum deposit is crucial to consider, it is also important for traders to consider the other features of a broker. As such, we saw it fit to review the trading instruments offered by FXGT, the trading platforms available, the spreads, and the credibility of this broker. Let’s start with the trading instruments available.

Trading Instruments on FXGT

FXGT offers a one-stop shop for trading a variety of global markets. With a single account, traders gain access to a diverse selection of instruments across 7 asset classes, all available as Contracts for Difference (CFDs). Here is a breakdown of the assets available to trade on FXGT.

  • Forex - On FXGT, investors can trade major, minor, and exotic currency pairs to capitalize on currency exchange fluctuations. 
  • Stock Indices - Traders can also speculate on the movement of different indices like the US30, the UK100, and the US500, among others.
  • Cryptocurrencies - Clients of FXGT can trade a variety of popular cryptos like Bitcoin, Ethereum, and Litecoin. This allows investors to diversify portfolios easily.
  • Synthetic Cryptocurrencies - This unique offering by FXGT allows investors to speculate on how crypto prices interact with traditional markets like precious metals or stock indices.
  • Stocks - FXGT gives its clients access to CFDs on the stocks of some of the world's biggest companies, including Apple, Amazon, and Meta, among others.
  • Energies - Further, traders gain exposure to the energy sector by trading CFDs on crude oil and natural gas.
  • Precious Metals - Finally, investors can trade gold and silver CFDs to hedge against inflation or diversify their portfolio with timeless assets.

FXGT’s Trading Fees

FXGT caters to traders with varying needs by offering four distinct account types. These include the Standard, the Mini, the ECN, and the Pro accounts. The key difference lies in the spreads and commission structure. The Standard and Mini accounts offer commission-free trading with spreads starting from 1.0 pips for major currency pairs. This is a good option for beginners who prioritize simplicity and lower upfront costs.

Meanwhile, the Pro account offers even tighter spreads starting from 0.5 pips, still without commissions. This caters to more active traders who value tighter spreads for potentially better execution. Finally, the ECN account boasts the lowest spreads, starting from 0.0 pips. However, it introduces a commission structure. This commission varies depending on the asset class. For example, the commission is $6 per round turn for forex, $5 per round turn for metals, and 0.1% per round turn for cryptocurrencies. This option is ideal for experienced traders who prioritize the tightest spreads and are comfortable with commission-based fees.

Beyond spreads and commissions, FXGT charges swap fees on positions held overnight. These fees depend on the asset and position size. However, there's a bright side. FXGT offers swap-free days on specific assets for some accounts. For instance, the Pro account offers swap-free trading on forex, metals, indices, and energies for 6 days a week. Standard and Mini accounts don't have built-in swap-free days, but FXGT does offer swap-free Islamic accounts for traders with religious restrictions on overnight fees.

FXGT Trading Platforms

FXGT empowers traders with a choice between two industry-leading platforms: MetaTrader 4 and MetaTrader 5. MT4 offers an advanced trading environment with 30 built-in technical indicators, three order execution options, and nine chart timeframes. Its one-click trading functionality allows for swift execution of trades, ideal for fast-paced market environments.


MT5, on the other hand, boasts 38 technical indicators, four order execution types, and an impressive 21 chart timeframes. Additionally, MT5 expands tradable assets beyond forex and CFDs to include stocks, futures, and options. The beauty lies in their accessibility. Both MT4 and MT5 are available across a wide range of devices, including desktops, web browsers, and mobile devices. This flexibility allows traders to access their accounts and execute trades from virtually anywhere.

FXGT’s Credibility

It is very important to consider the regulatory landscape of a broker. A trustworthy broker will be licensed by reputable financial authorities. In FXGT's case, they hold licenses from the FSCA in South Africa, the FSA in Seychelles, and the VFSC in Vanuatu. While regulations alone don't guarantee flawless services, having multiple licenses demonstrates a commitment to external oversight.


Additionally, don't underestimate the power of online reviews. While not always definitive, these reviews can offer valuable insights from other traders. FXGT's 3.9-star rating on Trustpilot indicates a generally positive customer experience. This positive sentiment can be a reassuring sign, but remember, it's just one piece of the puzzle.

Closing Remarks

FXGT offers a compelling option for South African and international traders looking for a low minimum deposit forex broker. With a minimum deposit of just 5 USD or (nearly) 100 ZAR, traders can get started with investing. FXGT also offers a wide variety of trading instruments, competitive fees, and the popular MT4 and MT5 trading platforms. However, it's important to consider the specific features of each account type, including spreads, commissions, and swap fees. More importantly, traders should always look at the credibility of a broker before investing with them. Positively, FXGT is regulated by multiple financial authorities and has a generally positive customer review rating.