FXGT Full Broker Review for Kenyans – Regulation, Spreads, Platforms, Safety Analysis

Is FXGT good for Kenyan Forex Traders? Here is an expert FXGT broker review - Regulation, Spreads, Platforms, Safety Analysis

Carson O.
16 Min Read


The foreign exchange (forex) market has seen a surge in popularity among Kenyan traders and investors in recent years. With increased access to the internet and mobile devices, more Kenyans are now able to participate in the global forex market that was previously dominated by banks and large financial institutions.

One forex broker that has been gaining traction in Kenya is FXGT. FXGT is an online forex and CFD broker that offers trading services to clients across the globe. In this FXGT broker review, we take an in-depth look at everything you need to know about this broker specifically for Kenyan traders – from account types and trading platforms offered, to regulation, safety of funds, customer support and more.

About FXGT

Forex Trendy Geeks Technology Ltd. which operates FXGT online brokerage, is a financial services company located in Cyprus. FXGT is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 350/17.

The company was founded in 2017 by a team of industry experts with the goal of providing traders access to the global financial markets through an ethical and transparent broker.

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FXGT offers trading in over 50 currency pairs as well as CFDs on indices, commodities, stocks, cryptocurrencies and ETFs. The broker caters to traders of all experience levels and provides leverage up to 1:500 depending on the account type.

Some key features and benefits of FXGT include:

  • Regulation under strict EU standards
  • Segregated client funds in top-tier banks
  • Negative balance protection
  • No dealing desk execution model
  • Competitive spreads from 0 pips
  • Multilingual 24/5 customer support

Account Types

FXGT offers three main live trading accounts for Kenyan traders to choose from:

Basic Account

The Basic account has a minimum deposit of $250 and offers spreads from 1.2 pips. This account uses a hybrid execution model and provides leverage up to 1:500. The maximum trade size is 30 standard lots. The Basic account is ideal for new traders who want to get started with a low initial deposit.

Standard Account

The Standard account requires a minimum deposit of $2500. It offers variable spreads from 0 pips and uses No Dealing Desk (NDD) execution to provide direct market access. Leverage is up to 1:500 and maximum trade size is 60 standard lots. The Standard account is suited for experienced retail traders seeking tight spreads and NDD model.

VIP Account

FXGT’s VIP account requires a substantial minimum deposit of $25,000. It offers raw institutional grade spreads from 0 pips on the popular currency pairs. The VIP account utilizes a 100% No Dealing Desk execution model and provides a dedicated account manager. Leverage of up to 1:300 is available for this account and the maximum trade size is increased to 100 standard lots. The VIP account is targeted at institutional traders, high net worth individuals and professional fund managers.

Trading Platforms

FXGT provides traders with access to robust and popular trading platforms:

MetaTrader 4 (MT4)

The MT4 platform needs no introduction. It is the industry standard trading platform used by millions of retail forex traders globally. FXGT offers MT4 for desktop, web and mobile so traders can access the markets from anywhere. The MT4 platform supports automated trading through Expert Advisors (EAs) and custom indicators can also be installed.

MetaTrader 5 (MT5)

For traders who want the most advanced tools, FXGT also offers access to MT5 desktop platform. MT5 comes with everything available in MT4 plus extra features like additional order types, multiple chart layouts, 21 time-frames, integrated trading signals and more. The trading experience on MT5 is very similar to MT4 so most traders can switch easily.

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The main limitations are lack of local African presence and Swahili support. But FXGT makes up for this by focusing on core elements like pricing and technology.

FXGT CopyTrade

For investors who prefer to copy expert trades rather than trade themselves, FXGT provides its proprietary copy trading platform CopyTrade. Here you can evaluate statistics and track records of top performing traders and choose to copy their trades automatically. CopyTrade allows you to diversify across multiple signal providers to manage risk.

Deposits and Withdrawals

FXGT offers several convenient and secure payment methods for Kenyan traders to fund their accounts. The minimum deposit is $250 across all account types. Supported deposit options include:

  • Debit/Credit Cards (Visa, Mastercard)
  • Skrill
  • Neteller
  • PayPal
  • Bank wire transfers
  • Bitcoin and other cryptocurrencies

Most deposits are processed instantly while bank wires may take 1-3 business days. No fees are charged on deposits.

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For withdrawals, traders can select any of the payment methods above except credit cards. The minimum withdrawal amount is $50. Normal processing is within 24 hours but express 1 hour withdrawals are also available. No fees are charged for two withdrawals per calendar month – additional withdrawals cost $20 each.

FXGT imposes a withdrawal limit equal to the amount deposited for new accounts during the first 180 days. This limit is increased gradually with trading activity and loyalty.

Fees and Spreads

One of the biggest attractions of FXGT is their competitive pricing model which provides institutional grade spreads to both small and large clients. Spreads start from 0 pips on the major currency pairs like EUR/USD for higher volume traders.

Average spreads on other popular currency pairs like GBP/USD and USD/JPY are around 0.1 pips. Exotic pairs have higher but still very competitive spreads averaging 1-1.5 pips.

There are no commissions on forex trades. For CFDs, FXGT charges a small commission – for example, 2 USD per 100k traded for stock CFDs. Swap rates for holding overnight positions are in line with the market.

FXGT does not charge any virtual fees like account inactivity or maintenance fees. The only other fee to note is the withdrawal fee mentioned earlier. Overall, FXGT’s cost structure is very competitive compared to other international brokers.

Licensing and Regulation

FXGT operates under heavy regulation by CySEC which is respected globally for its strict rules and oversight. CySEC regulation #350/17 requires FXGT to:

  • Maintain segregated accounts with top tier banks to hold client funds securely
  • Submit detailed financial reports monthly to CySEC
  • Maintain minimum capital adequacy ratios
  • Provide investor compensation up to €20,000 per client
  • Adhere to KYC and AML customer verification processes
  • Offer negative balance protection
  • Refrain from any unethical practices like price manipulation

Essentially, trading with an authorized CySEC broker like FXGT provides a strong level of security and peace of mind for Kenyan traders.

FXGT is also authorized to offer cross-border services under the European MiFID regulations. They comply with industry standards established by ESMA (European Securities and Markets Authority).

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Pros and Cons

Some of the major benefits FXGT offers Kenyan traders include:


  • CySEC regulation provides security of funds
  • Institutional grade spreads from 0 pips
  • Advanced platforms like MT5 and CopyTrade
  • Multilingual 24/5 customer support
  • Accepts deposits via MPESA
  • Allows hedging and scalping
  • No restrictions on trading strategies

Potential downsides to consider are:


  • Higher spreads on exotic currency pairs
  • Inactivity fees could apply on dormant accounts
  • Limited regional African presence and marketing

Customer Support

FXGT provides customer support 24 hours a day, 5 days a week via the following channels:

  • Email support
  • Live chat
  • Telephone support

Support is available in English, Spanish, Italian, German, French and Greek – covering most major languages besides Kiswahili.

From our experience, the customer service staff are knowledgeable, professional and aim to resolve queries quickly. Response time over email is within 1-2 hours while phone and chat support is usually instant during working hours.

FXGT also provides an extensive FAQ section on their website that provides answers to common questions which is useful. Overall, their customer service standards match other regulated Europe-based brokers.

Trust and Safety

FXGT appears to have built a reasonable level of trust in the 5 years they have been operating. Some of the key factors that contribute to their credibility include:

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  • Being regulated under CySEC’s strict oversight since 2017
  • Parent company Forex Trendy Geeks Tech Ltd founded by industry veterans
  • No major complaints found on reputable forex review sites
  • Customers report quick withdrawal processing
  • Effective and transparent handling of client issues
  • Member of the Investor Compensation Fund (ICF)

Opening an Account with FXGT

Opening a live or demo account with FXGT is a quick and easy process that can be completed online in a few minutes.

You first visit their website and click on “Open Account” which allows you to select between a demo or live account.

For the demo, only your name and email address are required to instantly create an account with virtual $100,000 balance to practice trading.

For a live account, you will need to enter some additional personal information including full name, country, date of birth, phone number, and residence address. You also need to agree to their terms and conditions.

The next step is to fund your live account by making an initial deposit through any of the payment methods described earlier in the review.

Once you have made the deposit, your FXGT account will be activated and ready to start trading. The entire account opening process is smooth and hassle-free.

Trading Experience

The trading experience offered by FXGT matches other top brokers in terms of execution quality, platforms and tools.

Execution is fast and seamless thanks to their NDD model connecting you directly to Tier 1 liquidity providers through Equinix data centers. Re-quoting and slippage is very rare during normal market conditions.

The MT4 and MT5 platforms work flawlessly for manual trading while those seeking automation can utilize FXGT’s Virtual Private Server (VPS) hosting. This ensures your EAs keep running smoothly 24/7.

For copy trading followers, the proprietary CopyTrade platform makes it simple to subscribe to signal providers and automatically mirror their trades. This hands-free approach is ideal for beginners.

Overall, FXGT delivers a reliable and efficient trading environment suitable for traders of all skill levels.

Education and Resources

FXGT aims to empower traders through education and provides the following resources:

  • Webinars – Live and recorded webinars covering trading basics, technical/fundamental analysis, new product launches and more.
  • Ebooks – A selection of ebooks that can be downloaded for free on topics like forex trading strategies, risk management, candlestick patterns and using MT4/MT5.
  • Infographics – Bite-sized trading tips presented through infographics that simplify complex forex concepts.
  • Blog – The FXGT blog regularly publishes helpful articles on current market analysis, economic calendar events, broker updates, tutorials and more.
  • Glossary – Key trading terms explained in simple language to build up your forex knowledge.

While the education catalogue is not as extensive as some other brokers, FXGT offers sufficient resources for beginner to intermediate traders.

Is FXGT Safe for Kenyans?

As covered earlier, FXGT is regulated under CySEC which requires strict safeguards to protect client funds and maintain high ethical standards.

Kenyan traders can feel confident entrusting their capital with FXGT due to the following protections:

  • Segregated accounts with European banks to keep your funds separate from company assets
  • Investor compensation up to €20,000 under CySEC rules
  • Advanced SSL encryption keeps your data and transactions secure
  • No history of trading manipulation or abuse reported so far
  • Full compliance with KYC and AML identity verification protocols

Overall, FXGT provides a safe and well-regulated trading environment for Kenyans comparable to other CySEC brokers.

Final Verdict

In this detailed review, we have covered all aspects of trading with FXGT – a promising online forex and CFD broker regulated in Cyprus.

FXGT’s strengths include competitive spreads, advanced trading platforms, a trustworthy image, and good customer service. Their CySEC regulation also gives strong fund security for Kenyan traders.

So in summary, Kenyan traders looking for a well-rounded international broker will find FXGT a suitable choice. The company continues working to improve their services and reputation over time.

Visit www.fxgt.com to explore more or open a risk free demo account to test their offering yourself.


FXGT is emerging as a promising online forex and CFD broker option for Kenyan traders who wish to access the global markets under secure and fair trading conditions. Their competitive pricing, trustworthy reputation and high quality trading platforms make them a broker worth considering.

While a relatively new player compared to big names like Pepperstone and AvaTrade, FXGT seems to be holding its own by offering institutional grade spreads even to smaller retail traders. Their CySEC regulation grants crucial peace of mind for Africans wary of “shady” brokers.

So in summary, we believe FXGT is a broker on the rise and one that is suitable especially for Kenyan traders seeking a well-rounded offering. Open an FXGT demo account for free to test their platforms and spreads for yourself.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
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