FXGlory is an online forex and CFD broker that has been in operation since 2011. It offers a wide range of financial instruments for traders, including forex, commodities, and indices. The broker is known for its beginner-friendly platform, competitive fees, and a variety of account types to suit different trading needs. With an easy-to-navigate platform and good customer support, FXGlory is a great choice for new traders who want to start their trading journey with low entry barriers.
In this review, we’ll take a closer look at FXGlory’s features, regulatory status, trading instruments, platforms, mobile app, account types, commissions and fees, customer support, education resources, and reputation, providing beginner traders with a comprehensive overview.
FXGlory Key Features:
- Wide range of trading instruments: Forex, commodities, indices, and CFDs.
- Low minimum deposit required: Starting from just $10.
- Various account types: Standard, ECN, VIP, and swap-free accounts.
- Competitive leverage: Up to 1:500 for most accounts.
- Strong customer support: 24/5 availability via live chat, email, and phone.
- Free demo account: Practice trading with no risk.
FXGlory Regulatory Status & Licenses
FXGlory operates with a license in Vanuatu under the Vanuatu Financial Services Commission (VFSC). However, FXGlory is not heavily regulated in major financial markets like the U.S. or the EU. This may be a concern for some traders who prefer brokers with more stringent regulation. While FXGlory offers services in compliance with local laws, the absence of strong regulation may make it less attractive to risk-averse traders.
Despite the regulatory concerns, FXGlory offers negative balance protection, which can protect traders from losing more than their initial deposit.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| VFSC | 14576 | No | Yes | Vanuatu |
| IFSC | 60/302/TS/19 | No | Yes | Belize |
| FCA (Offshore) | NA | No | Yes | UK (Limited) |
| FSA | 14576 | No | Yes | Vanuatu |
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FXGlory Trading Instruments
FXGlory offers a wide variety of trading instruments across several asset classes. Beginners will appreciate the range of currency pairs, commodities, indices, and CFDs available, allowing them to diversify their portfolio and engage with different markets. The broker provides high leverage, which gives traders the ability to control larger positions with smaller capital.
FXGlory provides flexibility in terms of spread and leverage across various assets, making it suitable for traders who want to explore different markets with low capital.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) | CFDs (Stocks) | Commodities (Gold, Oil) | Indices (US, EU) |
|---|---|---|---|---|---|---|
| Forex | 50+ | 1:500 | 1.2 pips | – | – | – |
| Commodities | 5 | 1:500 | 3.0 pips | – | Gold, Silver, Oil | – |
| Indices | 10+ | 1:500 | 1.5 pips | – | – | US30, SP500, EU50 |
| CFDs | 100+ | 1:500 | 2.0 pips | Apple, Tesla | – | US100, UK100 |
| Cryptocurrencies | 10+ | 1:10 | – | Bitcoin, Ethereum | – | – |
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FXGlory Trading Platforms
FXGlory offers the widely popular MetaTrader 4 (MT4) trading platform, which is well-known for its user-friendly interface, advanced charting tools, and automated trading capabilities. MT4 is available for both desktop and mobile devices, making it easy to trade from anywhere. For beginner traders, MT4 is an excellent choice due to its simplicity, accessibility, and wide range of tutorials available.
The MT4 platform provides various technical indicators and charting tools that help traders make informed decisions.
| Platform | Availability | Features | Automation | Charting Tools | Trading Robots |
|---|---|---|---|---|---|
| MetaTrader 4 | Desktop, Mobile | Customizable charts, automated trading | Expert Advisors | Multiple indicators, customizable charts | Available (EAs) |
| WebTrader | Web | Light version of MT4 | No | Basic charting tools | Not available |
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FXGlory Mobile App
FXGlory provides a mobile app for both iOS and Android users. The app has garnered high ratings from users due to its reliability and user-friendly interface. It allows traders to manage their accounts and execute trades on the go, making it a convenient option for busy traders. Both iOS and Android versions of the app provide a similar range of features to the desktop platform, such as charting, order execution, and account management.
The app also provides notifications, so traders can stay informed of market changes while away from their computer.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| FXGlory Mobile App | 4.5/5 | 4.4/5 |
| Ease of Use | 4.6/5 | 4.5/5 |
| Trading Features | 4.7/5 | 4.6/5 |
FXGlory Account Types
FXGlory offers a variety of account types designed to cater to traders with different needs. The minimum deposit required to open an account is low, making it accessible for beginners. FXGlory’s accounts offer various levels of leverage, spreads, and commissions depending on the account type. Below are the key details for each account type:
| Account Type | Minimum Deposit | Leverage | Spreads | Commission | Swap-Free Available |
|---|---|---|---|---|---|
| Standard | $10 | 1:500 | 1.2 pips | None | Yes |
| ECN | $100 | 1:500 | 0.8 pips | $3 per lot | Yes |
| VIP | $1000 | 1:500 | 0.5 pips | $2 per lot | Yes |
| Swap-Free | $10 | 1:500 | 1.2 pips | None | Yes |
| Islamic | $10 | 1:500 | 1.2 pips | None | Yes |
FXGlory Commissions & Fees
FXGlory offers competitive spreads, but commissions apply to ECN and VIP accounts. For standard accounts, there are no commissions, making it an attractive choice for beginner traders. ECN and VIP accounts provide tighter spreads but come with commission charges that are per traded lot. Swap-free accounts are available for traders who prefer to avoid overnight interest charges.
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Spread (EUR/USD) | 1.2 pips | 0.8 pips | 0.5 pips | 1.2 pips |
| Commission | None | $3 per lot | $2 per lot | None |
| Swap-Free Fee | None | None | None | None |
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FXGlory Deposit & Withdrawals
FXGlory supports multiple payment methods for deposits and withdrawals. This includes credit cards, bank transfers, and e-wallets. The deposit process is generally fast and free of charge. Withdrawal fees apply, depending on the method, but the broker offers relatively quick processing times, especially for e-wallets.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | Free | $20 | 2-5 business days |
| Credit Card | Free | 2% | 1-2 business days |
| E-Wallet | Free | Free | 1 business day |
| Bitcoin | Free | Free | 1 business day |
| Neteller | Free | Free | 1 business day |
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FXGlory Customer Support
FXGlory provides robust customer support through various channels including live chat, email, and phone support. Support is available 24/5, ensuring that traders can get help whenever they need it. The response time is generally quick, with the team providing professional assistance in multiple languages.
FXGlory’s support team is experienced in handling a variety of trading-related queries and technical issues.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Live Chat | 24/5 | Instant | English, Arabic, Russian |
| 24/5 | 1-2 hours | English, Arabic, Russian | |
| Phone Support | 24/5 | 2-3 minutes | English, Arabic, Russian |
| Telegram | 24/5 | Instant | English, Arabic |
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FXGlory Education & Research
FXGlory offers various educational resources, including webinars, video tutorials, and market analysis. These resources are mainly focused on beginner traders, providing foundational knowledge of forex trading. The broker’s research tools include daily market analysis and trading signals, which help traders make informed decisions based on current market conditions.
| Resource Type | Availability | Quality |
|---|---|---|
| Webinars | Occasionally | Beginner-friendly |
| Tutorials | Free | Basic |
| Market Analysis | Daily | Good |
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FXGlory Google Reviews & Reputation
FXGlory generally holds a solid reputation online, with positive reviews for its customer service and low minimum deposit. However, some traders have voiced concerns regarding the broker’s regulatory status. Overall, FXGlory maintains a good standing, particularly among beginner traders due to its ease of use and low-cost entry.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Overall Rating | 4.0 | 3.8 | 4.5 | 4.4 |
| Customer Support | 4.5 | 4.2 | 4.6 | 4.7 |
| Ease of Use | 4.6 | 4.0 | 4.7 | 4.6 |
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FXGlory Bonuses & Promotions
FXGlory offers several attractive bonuses and promotions for both new and existing traders. These include deposit bonuses, cashback offers, and special promotions for VIP traders. Bonuses are typically given based on the amount deposited into the account and may have terms and conditions such as trading volume requirements.
- Deposit Bonus: Up to 100% for new traders.
- Cashback Reward: Available for loyal traders with certain trading volumes.
- No Withdrawal Fees: On specific payment methods.
FXGlory Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Low minimum deposit | Lack of regulation in major markets |
| Multiple account types | Limited educational content for advanced traders |
| No withdrawal fees for some methods | Fees on certain withdrawal methods |
| High leverage options | Limited research tools |
| Wide range of trading instruments | No native trading signals |
Final Thoughts
FXGlory is a great option for beginner traders, thanks to its low minimum deposit, competitive spreads, and easy-to-use platform. The availability of multiple account types and a demo account makes it an attractive choice for those just starting out. However, the lack of robust regulation and some limited educational resources might be a drawback for traders looking for more comprehensive support. Nonetheless, FXGlory offers solid value for those seeking a simple, low-cost entry into forex and CFD trading.