Scam Forex Brokers in Namibia
FXGT.com Review
FXGT.com started in 2020 and offers Namibians superior trading conditions that allow them to boost their trading. The broker lets traders participate in financial markets with confidence and trust. They also have live spreads updated in real time.
- Kayla Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawals
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
93 NAD / 5 USD
Regulators
FSCA, CySEC, VFSA, FSA
Trading Desk
MetaTrader4, MetaTrader5
Crypto
Total Pairs
41
Islamic Account
Trading Fees
Account Activation
Overview
FXGT.com understands Namibian traders’ needs and the ever-changing financial markets better than other online trading platforms.
They were established in Cyprus in 2020 and swiftly expanded to South Africa and the Seychelles. The brokerage has made special accommodations for Namibian traders and others to provide a diverse trading community.
After evaluating the broker, we found that the site offers Forex and more current options like DeFi tokens and NFTs. They are a pioneer in digital currencies, letting traders diversify using Bitcoin, Ethereum, and Ripple.
Even though the Namibian Dollar (NAD) isn’t supported, the broker lets Namibian traders use Bitcoin, Ethereum, USDT, EUR, and USD.
The broker stands out for Namibian traders because of its customer care focus. Namibian traders also get 24/7 multilingual customer assistance to aid them in addressing several issues and queries.
Another benefit of using the broker is that Namibian traders get the broker’s $30 No-Deposit Bonus when registering and verifying their trading account with FXGT.com.
What can I trade with FXGT.com from Namibia?
You can trade metals, energies, DeFi, NFTs, forex, shares, and other financial instruments.
Are there any features that are targeted specifically to Namibian traders?
No, there are no unique features specifically for Namibians. However, FXGT.com provides a choice of account types and trading options suited for traders worldwide, including those from Namibia.
At a Glance
| 🗓 Established Year | 2020 |
| ⚖️ Regulation and Licenses | FSCA, CySEC, VFSA, FSA |
| 🪪 Ease of Use Rating | 4/5 |
| 🚀 Bonuses | Yes, $30 No-Deposit Bonus, Loyalty Bonus, VPS Sponsorship Program |
| ⏰ Support Hours | 24/7 |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💻 Account Types | Mini, Standard+, Pro, ECN |
| 💰 Base Currencies | BTCH, ETH, USDT, ADA, XRP, EUR, USD, ZAR |
| 📈 Spreads | From 0.0 pips |
| 📉 Leverage | 1:1000 |
| 💸 Currency Pairs | 41; major, minor, exotic pairs |
| 💳 Minimum Deposit | 93 NAD / 5 USD |
| 🛑 Inactivity Fee | Yes |
| 📞 Website Languages | English, Arabic, Japanese, Thai, Vietnamese, Malay, Turkish |
| ✔️ Fees and Commissions | Spreads from 0.0 pips, commissions from $6 on Forex, $5 on metals, and 0.1% on crypto |
| ✅ Affiliate Program | Yes |
| 🚫 Banned Countries | United States, Russia, Canada, Iran, and North Korea |
| 👨💻 Scalping | Yes |
| 👥 Hedging | Yes |
| 🏦 Trading Instruments | Forex, cryptocurrencies, synthetic cryptocurrencies, precious metals, energies, indices, stocks, DeFi Tokens, NFTs |
| 👉 Open an account | Open Account |
Regulation and Safety of Funds
When we researched and investigated their security architecture, we discovered that, while the platform is not regulated locally in Namibia, it has implemented robust safeguards to protect its Namibian customers.
They are regulated by reputable international authorities such as the FSCA and CySEC, demonstrating their dedication to upholding high security and operating standards.
We also discovered that the broker is PCI DSS certified, meaning payment security is central to their business.
They use encrypted data transmissions to protect users’ personal and financial information, a vital feature that we, as reviewers, believe is unavoidable for online trading platforms.
Furthermore, their practice of keeping clients’ assets in segregated accounts at Tier 1 institutions was comforting. This division of money is a smart precaution that protects traders’ capital from potential mismanagement or insolvency.
Although the broker is not locally regulated in Namibia, we can confirm that their adherence to international regulatory requirements and the execution of stringent security processes create a secure trading environment that meets the demands of Namibian traders.
Furthermore, their approach to security is proactive and reactive, with preventative measures and a system geared to respond quickly to any security risks.
Regulation in Namibia
FXGT.com is not currently regulated by the Bank of Namibia (BoN). However, FXGT.com’s global regulations are listed in the table below.
Global Regulations
⚖️ Registered Entity 🏦 Country of Registration 🪪 Company Reg. ✅ Regulatory Entity 🛍 Tier 🤝 License Number/Ref
360 Degrees Markets Ltd Seychelles 8421720-1 FSA 3 SD019
GT IO Markets (Pty) Ltd South Africa 2015/059344/07 FSCA 2 FSP 48896
GT Global Markets Ltd Vanuatu – VFSC 3 700601
TEC International (Cyprus) Ltd Cyprus HE 389575 CySEC 2 382/20
Protection of Client Funds
🚫 Security Measure 🪪 Information
Segregated Accounts Yes
Compensation Fund Member Liability Insurance
Compensation Amount 1,000,000 EUR
SSL Certificate Yes
2FA (Where Applicable) Yes
Privacy Policy in Place Yes
Risk Warning Provided Yes
Negative Balance Protection Yes
Guaranteed Stop-Loss Orders No
Are there any specific legal protections for Namibian clients trading?
Yes. FXGT.com maintains a strong commitment to upholding legal standards that safeguard the interests of all clients, including those from Namibia.
Does FXGT.com provide insurance coverage for investments for clients in Namibia?
Yes. FXGT.com prioritizes the protection of client funds. However, Namibians must confirm whether they’re eligible by contacting FXGT.com directly.
Awards and Recognition
Our research on FXGT.com uncovered a range of prestigious awards and recognitions, which include:
➡️In 2024, FXGT.com was honoured by Brokers View as the recipient of the prestigious “Best Global Trading Conditions” award.
➡️In 2023, FXGT.com was honoured with the prestigious “Best Broker Award” by AtoZ Markets.
➡️FXGT.com received the prestigious “Best Hybrid Broker” award at the Ultimate Fintech Awards in 2022.
FXGT.com Account Types
They are a flexible option for Namibians because of the account types offered to all trading levels. We evaluated these account types and their features to give Namibians a comprehensive overview of each in the table and sections below.
Mini Standard+ Pro ECN
✔️ Availability All; ideal for beginners All; ideal for casual traders All; ideal for experienced traders All; ideal for scalpers, day, and algorithmic traders
💵 Markets Forex
Equity Indices
Precious Metals
Energies
Stocks
Cryptocurrency
GTi12 IndexForex
Equity Indices
Precious Metals
Energies
Stocks
Cryptocurrency
GTi12 Index
Synthetic CryptocurrenciesForex
Equity Indices
Precious Metals
Energies
Stocks
Cryptocurrency
GTi12 Index
Synthetic Cryptocurrencies
DeFi Tokens
NFTsForex
Equity Indices
Precious Metals
Energies
Stocks
Cryptocurrency
GTi12 Index
Synthetic Cryptocurrencies
💰 Commissions None; only the spread is charged None; only the spread is charged None; only the spread is charged From 0.1% – $6
💻 Platforms All All All All
🔨 Trade Size 0.01 – 500 lots 0.01 – 200 lots 0.01 – 200 lots 0.01 – 200 lots
📊 Leverage 1:1000 1:1000 1:1000 1:1000
💸 Minimum Deposit 93 NAD / 5 USD 93 NAD / 5 USD 93 NAD / 5 USD 93 NAD / 5 USD
👉 Open an account Open Account Open Account Open Account Open Account
Demo Account
The Demo Account is an excellent option for Namibian traders who wish to test the waters of trading without jumping in headfirst.
Based on our research, this demo account is ideal for novice and experienced traders looking to try different trading tactics in a risk-free setting.
It provides a realistic environment for traders to practice by simulating the real market to the smallest detail.
With virtual funds, traders from Namibia can practice using the platform and learn the ins and outs of the market without risking any of their own money.
Mini Account
The Mini Account is a great option for Namibian traders looking to start small in the financial markets. It requires a minimal initial deposit of 93 NAD and offers access to forex, indices, and commodities markets.
We also found that its lack of commission fees makes it an excellent choice for novice traders to get started and diversify their investments with lower risks.
Standard+ Account
The Standard+ Account is suitable for average Namibian traders, offering synthetic cryptocurrencies and cost-effective trading with a 1:1000 leverage and no commission fees.
It also includes 25% loyalty bonus programs, providing extra funds for trading activities. This account reflects their commitment to offering diverse trading opportunities at reasonable costs.
Pro Account
The Pro Account is designed for experienced Namibian traders who require a more comprehensive trading experience.
The Pro Account features exclusive assets like DeFi Tokens and NFTs, offers low deposit requirements and no commission fees, and tight average spreads from 5 points for precise strategy execution. This is especially beneficial to scalpers, algorithmic traders, and day traders.
Furthermore, we found that the Pro Account also gives Namibians extra benefits, access to more advanced tools, bonuses, and more.
ECN Account
The ECN Account is ideal for Namibian traders seeking speed and market depth. It connects to electronic communication networks, offers raw spreads from 0.0 pips, and has commission fees based on trade volume and complexity. With leverage of 1:1000 and a wide range of trade sizes, it provides flexibility for scalping strategies and day and algorithmic trading.
Islamic Account
The Islamic Account is another feature that shows consideration for the varied religious views of FXGT.com’s Namibian customers.
According to our research, a significant aspect for traders following Islamic financial principles is that this account type corresponds to Sharia law by removing swap interests.
However, you can still access a wide range of asset classes and trade forex with it, among other strong features.
By offering this specialist account, they are demonstrating their dedication to diversity and inclusion while meeting individual traders’ needs.
Does the Standard+ account on FXGT.com offer synthetic cryptocurrencies?
Yes, the Standard+ account on FXGT.com allows access to synthetic cryptocurrencies and a selection of other trading products, giving varied trading options for Namibian traders.
I opened a Mini Account with FXGT.com. Can I upgrade my account?
Yes, Namibian traders can upgrade or downgrade their account types on FXGT.com depending on their trading preferences and experience levels, giving them the flexibility to adjust to changing market conditions.
How To Open a FXGT.com Account
Below, we list the steps that Namibians can take to register an account with FXGT.com to start trading forex and other financial markets:
Step 1 – Click on the Register option.
Click the “Sign Up” or “Register” button on the FXGT.com homepage to start the account registration procedure.
Step 2 – Fill out the form.
Complete the form and ensure all your information is up-to-date and correct before applying.
Step 3 – Choose a currency option.
Remember that NAD is not supported as a base currency option. However, you can choose your base currency from USD, EUR, or various cryptocurrencies.
FXGT.com vs. FXTM vs. Admirals – Broker Comparison
| FXGT.com | FXTM | Admirals | |
| ⚖️ Regulation | FSCA, CySEC, VFSA, FSA | CySEC, FSCA, FCA, CMA, FSC Mauritius | CySEC, FSCA, FCA, CMA, FSC Mauritius |
| 📱Trading Platform | MetaTrader 4 MetaTrader 5 | MetaTrader 4 MetaTrader 5 FXTM Trader | MetaTrader 4 MetaTrader 5 Admirals Mobile App |
| 💰 Withdrawal Fee | No | Yes | Yes |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Min Deposit | 95 NAD ($5) | 191 NAD ($10) | 480 NAD ($25) |
| 📈 Leverage | 1:1000 | 1:2000 | 1:30 Retail 1:500 Pro |
| 📊 Spread | From 0.0 pips | 0.0 pips, Variable | From 0.0 pips |
| 💰 Commissions | $6 on Forex $5 on Precious Metals 0.1% on Crypto Assets | From $0.4 to $2 | From $0.02 |
| ✴️ Margin Call/Stop-Out | 50% – 70% (M) 20% – 40% (SO) | 40% to 50% (M) 60% to 80% (S/O) | 100%/50% |
| ✴️ Order Execution | Market | Market, Instant | Market, Exchange |
| 💳 No-Deposit Bonus | Yes | No | Yes |
| 📊 Cent Accounts | Yes, Mini | Yes, Micro | No |
| 📈 Account Types | Mini Account Standard+ Account Pro Account ECN Account | Micro Account Advantage Account Advantage Plus Account | Trade.MT5 Invest.MT5 Zero.MT5 Bets.MT5 Trade.MT4 Zero.MT4 |
| ⚖️ BoN Regulation | No | No | No |
| 💳 NAD Deposits | No | No | No |
| 📊 NAD Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 3 | 6 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 200 lots | 100 lots | 200 lots |
| 💸 Minimum Withdrawal Time | Instant | Instant up to 24 hours | Instant |
| 💰Maximum Estimated Withdrawal Time | 1 – 5 Business Days | Up to 5 working days | Between 3 to 5 working days |
| 📞 Instant Deposits and Instant Withdrawals? | Yes, Both | Yes, instant deposits | Yes |
| 🎉 Open an account | Open Account | Open Account | Open Account |
Trading Platforms and Software
The broker offers two of the most powerful trading platforms, MetaTrader 4 and 5. The sections below discuss the unique features that can benefit Namibians.
MetaTrader 4
The trading experience with the broker is greatly enhanced by MetaTrader 4. We discovered that their MT4 is reliable and flexible.
The vast array of assets offered, such as indices, commodities, and currency pairs, are effortlessly managed by it.
FXGT.com’s competitive conditions—including spreads as low as 0.0 pips and leverage as high as 1:1000—integrated so smoothly with MT4’s robust framework was what draws Namibian traders.
Both novice and seasoned traders in Namibia will find this combination a familiar and trustworthy interface, facilitating their engagement with the markets.
Importantly, we found that the platform supports many base currencies authorized by the broker for traders balancing their currency risk in a broad portfolio.
MetaTrader 5
We used the demo account to test the MetaTrader 5 platform offered on the website.
We discovered it to be a highly functional and sophisticated trading platform. It works great with all of FXGT.com’s products and meets the demands of contemporary traders.
Fast execution speeds are guaranteed by its alignment with FXGT.com’s supply of raw spreads and strong liquidity, which is especially advantageous for Namibian traders utilizing the ECN account.
Our MT5 testing confirmed that the platform supports FXGT.com’s future-oriented features, such as trading NFTs and DeFi tokens.
Furthermore, using the demo account, we could easily make informed decisions with the help of the platform’s advanced analytical tools and FXGT.com’s wide variety of trading instruments by carefully studying market behaviour.
Overall, MT5 is a powerful tool for cross-asset trading since it can handle the many base currencies supplied by FXGT.com.
We see MT5 as an extension of FXGT.com’s dedication to technical innovation and robust trading conditions, connecting the dots between conventional trading and the discovery of untapped market potential.
Does FXGT.com give me access to advanced charting?
Yes, FXGT.com’s trading platforms provide powerful charting tools to Namibian traders, such as several chart types, technical indicators, drawing tools, and customizable timeframes, allowing for complete market research and decision-making.
Can I open a demo account on the MetaTrader platforms?
Yes, FXGT.com provides Namibian traders with demo accounts, which allow them to practice trading methods, test platform features, and get acquainted with the markets before committing capital.
Trading Instruments & Products
The broker offers traditional instruments and includes emerging markets, benefitting Namibian traders. Please keep reading to discover what you can trade with them when you sign up and start trading:
➡️DeFi Tokens – Namibians can access 9 DeFi coins through the broker. This opens the door to the emerging field of decentralized finance.
➡️NFTs – With FXGT.com’s five Non-Fungible Tokens, Namibian traders may explore the digital collectables arena, where art, technology, and investing come together.
➡️Stocks – With 50 stock CFDs to choose from, investors in Namibia have a flexible method to start participating in the equities market.
➡️Energies – XGT.com allows Namibian traders to participate in energy market trades, including oil and gas.
➡️Forex – Namibian traders can take advantage of FXGT.com’s extensive platform, which offers 41 currency pairings (major, minor, and exotic) and high levels of liquidity and volatility.
➡️Cryptocurrencies – The website gives Namibian traders access to 24 cryptocurrency trading alternatives.
➡️Indices – Traders in Namibia may learn about general market trends with the help of FXGT.com’s indexes, which follow the success of top firms in several sectors.
➡️Synthetic Cryptocurrencies – If you want to participate in the cryptocurrency market but don’t want to own the underlying asset, you can use FXGT.com’s synthetic cryptocurrencies, which mimic the price fluctuations of real cryptocurrencies.
➡️Precious Metals – Gold and silver are classic safe-haven investments, and traders in Namibia may diversify their portfolios with precious metals trading on FXGT.com.
Are Non-Fungible Tokens (NFTs) accessible for trading on FXGT.com for Namibian traders?
Yes, FXGT.com gives Namibian traders access to Non-Fungible Tokens (NFTs).
Are energy commodities accessible for trading on FXGT.com for Namibian traders?
Yes, FXGT.com allows Namibian traders access to energy commodities such as oil and gas, letting them trade according to worldwide supply and demand dynamics and geopolitical events affecting energy markets.
FXGT.com Spreads and Fees
We were extremely impressed by how transparent FXGT.com is about its fees and spreads. We evaluated each fee type that Namibians can expect and discussed them in the sections below, giving traders a snapshot of what they can expect with this dynamic and trustworthy broker.
Spreads
There is a competitive structure to FXGT.com’s spreads, which we saw often start as low as 0.0 pips. A notable feature of major currency pairings is that they often have very narrow spreads, which can appeal to high-frequency and high-volume Namibian traders.
Based on our analysis of the spreads across various account types, it is clear that the broker has tried to accommodate diverse trading styles and preferences. This means aggressive and conservative traders can easily find a cost-effective method to access the markets.
Commissions
Upon reviewing the commissions, we discovered that most account types, especially the Mini and Standard+ accounts, offer a trading environment free of charge.
Nevertheless, a commission is associated with the ECN account, which caters to experienced traders with access to raw spreads.
Our research shows that the commission rates are clearly stated and determined by the amount and complexity of the transactions. This creates a reasonable pricing structure that fits with the traders’ strategies.
Overnight Fees
We also looked at the overnight costs and exchange fees. These fees are a common way for the industry to recoup the cost of the supplied leverage; they apply to positions held open overnight.
Although these fees are generally part of trading costs, our research showed that they differ per traded instrument and should be considered by traders with long-term investment horizons.
Deposit and Withdrawal Fees
The fact that FXGT.com does not levy any fees for deposits or withdrawals is advantageous to clients.
Though the broker does not impose additional costs, traders should be aware that payment processors or banks might apply fees, especially in cases involving currency conversion to and from NAD.
Inactivity Fees
Accounts that haven’t traded on FXGT.com for over 90 days will be charged the inactivity fee. While this may not significantly impact active traders, prospective traders should know if they plan to use long-term strategies where positions remain open for months without activity.
Currency Conversion Fees
Finally, we investigated the currency conversion costs associated with FXGT.com. Namibian traders need to know that there will be a conversion fee for any transactions not made in their account’s base currency.
Rather than being dictated by FXGT.com, these costs are determined by the current exchange rates when the transaction is made.
Traders from Namibia must consider these fees if they ever need to convert NAD to a base currency that FXGT.com accepts, such as USD, EUR, or cryptocurrency. Moreover, when managing a global portfolio, Namibian traders must consider the potential financial impact of these costs.
What can I expect in terms of spreads with FXGT.com?
FXGT.com’s lowest spreads start from 0.0 pips on the ECN Account and EUR/USD. Each account type has its typical spreads that can change according to the instrument and market conditions.
Are there any exclusions or exemptions in terms of fees with FXGT.com?
Yes, there might be. While FXGT.com maintains conventional fee structures, it could grant exceptions or exemptions on a case-by-case basis based on criteria like trading volume, account type, and promotional offers, allowing flexibility for Namibian traders to manage expenses efficiently.
FXGT.com Deposit & Withdrawal Options
An area where FXGT.com shines is its variety of deposit and withdrawal methods. Namibians can view the information regarding each payment method in the table below.
Then, we provide a step-by-step explanation of how Namibians can deposit and withdraw funds according to each method.
📚 Payment Method 🌎 Country 💸 Currencies Accepted ⏰ Processing Time
Debit Card All USD, EUR, ZAR Instant – 5 days
Credit Card All USD, EUR, ZAR Instant – 5 days
Cryptocurrencies All BTC, ETH, XRP, ADA, USDT ERC20, USDT TRC20 1 minute – 48 hours
Sticpay All EUR, USD Instant – 48 hours
Neteller All EUR, USD, ZAR Instant
Skrill All USD, ZAR Instant
Online Naira Nigeria EUR, USD Instant
Perfect Money All EUR, USD Instant
Local Banks All EUR, USD, ZAR, NAD Instant
ZotaPay All USD Instant
FasaPay All USD Instant
Bank Wire Transfer South Africa ZAR 2 to 5 working days
Binance Pay All USDT Instant
Deposits
How to Deposit using Bank Wire Step by Step
✅Find the “Deposit” part of your trading account dashboard and go to that section.
✅Select “Bank Wire Transfer” as the deposit method and make a note of the banking data given to you by FXGT.com, which includes the SWIFT code and bank account number.
✅Send money to FXGT.com by utilizing their banking credentials. You can do this using your internet banking or by going to a branch. The transaction requires the conversion of Namibian Dollars (NAD) into one of the accepted currencies; therefore, be sure to use USD, EUR, or another cryptocurrency that is currently accessible.
How to Deposit using Credit or Debit Card Step by Step
✅Go to FXGT.com, go to your account, and click on the “Deposit” button.
✅Select “Credit or Debit Card” from the list of deposit options.
✅Enter your card information (number, expiration date, CVV) and select the amount you want to deposit; remember that NAD will be converted into one of the supported base currencies, such as USD, EUR, or cryptocurrency, if available.
✅Verify the transaction details and finish any extra security checks your bank may have before approving the payment.
How to Deposit using Cryptocurrency Step by Step
✅After you’ve logged into your account, go to the ‘Deposit’ option.
✅Pick your cryptocurrency of choice—BTC, ETH, XRP, ADA, or USDT—by selecting “Cryptocurrency” from the deposit choices.
✅When you deposit with FXGT.com, copy the wallet address they give you.
✅Send the deposit to the FXGT.com wallet address using your cryptocurrency wallet. Make sure to choose the proper coin type for the transfer.
How to Deposit using e-Wallets or Payment Gateways Step by Step
✅Go to the ‘Deposit’ section of your account when you log in.
✅Choose an electronic wallet or payment channel that suits you best, such as SticPay, Neteller, or Skrill.
✅The amount you wish to deposit must be in a currency supported by FXGT.com’s accounts, so make sure it’s USD or EUR.
✅Before authorizing the deposit, you must log in to your e-wallet or payment gateway’s interface and confirm the transaction information.
Withdrawals
How to Withdraw using Bank Wire Step by Step
✅Locate the “Withdrawal” option in your account and click on it.
✅Select “Bank Wire Transfer” to withdraw funds and then provide your banking information, including your account number and SWIFT code.
✅Provide the desired withdrawal amount in USD, EUR, or any cryptocurrency. Your bank will convert these funds, and you might pay conversion fees.
✅Please submit your withdrawal request so that FXGT.com can start processing it.
How to Withdraw using Credit or Debit Cards Step by Step
✅To access the “Withdrawal” feature, navigate to the “Account Dashboard”.
✅FXGT.com will typically return funds to the credit card you used for your deposit. Furthermore, funds will be converted to NAD.
How to Withdraw using Cryptocurrency Step by Step
✅Navigate to the withdrawal area of your trading account.
✅To withdraw cryptocurrency, choose “Cryptocurrency” as the withdrawal method and then choose the coin type.
✅To withdraw money, please provide your cryptocurrency wallet address and the amount you want to withdraw.
✅Verify the information and proceed with the withdrawal.
How to Withdraw using e-Wallets or Payment Gateways Step by Step
✅To initiate a withdrawal, log in to your account.
✅To withdraw, use an e-wallet or payment gateway like SticPay, Neteller, or Skrill.
✅To complete your withdrawal request, review your transaction details and click the “Confirm” button.
Does FXGT.com allow withdrawals in the Namibian Dollar (NAD)?
No, FXGT.com does not allow direct withdrawals in NAD. When traders withdraw funds, their bank will convert the funds into NAD.
Can Namibian traders withdraw funds from FXGT.com using an app?
Yes, Namibian traders can initiate withdrawal requests from FXGT.com via mobile devices, giving them more flexibility and convenience while managing their trading accounts on the road.
Overall Rating
- 4.7/5
Min Deposit
93 NAD / 5 USD
Regulators
FSCA, CySEC, VFSA, FSA
Trading Desk
MetaTrader4, MetaTrader5
Crypto
Total Pairs
41
Islamic Account
Trading Fees
Account Activation
Leverage and Margin
In our examination of FXGT.com’s leverage and margin rules, we focused on how they benefit Namibian traders. The broker has an appealing leverage option of up to 1:1000, among the highest in trading.
This significant leverage enables Namibian traders to expand their market exposure with little capital. However, while this can improve profit potential, it raises risk if not managed properly.
Furthermore, the broker changes leverage based on a trader’s position size, which is an effective risk management method. As positions get larger, leverage reduces, allowing you to efficiently manage the risks involved with larger transactions.
We found this technique compromises between providing traders with large leverage and ensuring reasonable risk.
Namibian traders participating in leveraged trading must also understand the margin requirements, which the broker fully outlines in the client agreement. These regulations guarantee that traders have sufficient funds to cover their leveraged trades.
FXGT.com’s platform and support tools are well-equipped to keep traders informed, giving regular information on margin levels and any changes to trading circumstances.
Overall, FXGT.com’s leverage and margin solutions demonstrate a thorough awareness of traders’ desire for flexibility while favouring a safe trading environment. These elements are useful and critical for Namibian traders who must navigate the ups and downs of global markets.
Do I get margin call notifications from FXGT.com?
Yes, FXGT.com provides margin call alerts to Namibian traders, informing them when their account’s margin level crosses a predetermined threshold, enabling proactive risk management and position correction.
Does FXGT.com provide educational materials on leverage and margin management for Namibian traders?
Yes, FXGT.com offers extensive educational materials on leverage and margin management, enabling Namibian traders with the knowledge and tools to employ leverage successfully and responsibly in their trading activity.
Educational Resources
While we found FXGT.com’s educational resources somewhat limited, two resources could benefit Namibians, especially beginners just starting online trading.
eBooks
The eBooks cover a wide range of learning topics, from the fundamentals of trading to advanced strategy and risk management. Our review of these eBooks indicated that they are methodically designed and provide gradual learning for Namibian traders.
They provide self-paced learning, which is useful given the different degrees of trading competence and the flexibility necessary to fit learning into one’s schedule.
Comprehensive Glossary
The Comprehensive Glossary is essential for traders to become acquainted with the frequently complex trading terminology.
We found that the glossary is well-organized and user-friendly, allowing Namibian traders to reference market analysis and trading platform capabilities quickly.
Demo Account
The Demo Account function is a useful educational resource on its own. It provided a risk-free environment where we could use our trading expertise in real time without fear of money loss.
This virtual trading environment is an important learning tool for Namibian traders, allowing them to experiment with strategies and comprehend market dynamics without incurring financial risk.
Are FXGT.com’s educational materials suitable to complete beginners in Namibia?
Yes, FXGT.com’s training tools are meant to be accessible to novices, delivering clear explanations and step-by-step instructions to assist Namibian traders in creating a firm foundation in trading principles and tactics.
What can I expect from FXGT.com’s educational materials?
FXGT.com provides Namibian traders with various educational tools, including extensive glossaries and eBooks covering trading fundamentals, risk management, psychology, and advanced methods, catering to traders at all skill levels.
Bonuses and Promotions
Namibian traders can trade live without risking their own money, thanks to FXGT.com’s exclusive $30 no-deposit incentive. This promotion is well-suited for individuals who are new to the platform and wish to investigate its capabilities in different financial markets.
Particularly beneficial for users of automated trading systems, the VPS sponsorship program guarantees a solid and swift trading environment.
Furthermore, FXGT.com allows traders to expand their activities by offering an unlimited 25% incentive on subsequent deposits, thereby enhancing their trading capabilities.
However, while these promotions benefit Namibians, we urge traders to familiarize themselves with the terms and conditions of these promotions.
Moreover, they should note that to withdraw the no-deposit bonus, they must trade a minimum of two GT lots, which can be quite high, especially for complete beginners.
Despite these withdrawal terms, we appreciate that FXGT.com offers various bonus structures specifically designed to cater to the unique needs of Namibian traders, establishing a strong basis for them to progress in their trading endeavours.
Do long-term Namibian traders receive any loyalty rewards?
Yes. Loyal traders who have been with FXGT.com for some time can benefit from loyalty rewards, such as improved trading conditions and special promotional offers.
How frequently does FXGT.com update its bonuses and promotions for traders in Namibia?
FXGT.com frequently updates its bonuses and promotions, introducing new offers every quarter or during significant trading events.
Affiliate Programs
Features
The FXGT.com affiliate program in Namibia serves a purpose beyond mere market penetration by cultivating a robust forex trading community. Our evaluation emphasizes its efficacy in the thriving Namibian foreign exchange market.
The program provides Namibian affiliates with a suite of marketing tools that are adaptable and user-friendly, precisely designed to align with regional inclinations and digital trends.
However, we found that the real benefit is in the potential for earnings. Affiliates can earn a maximum of $12 per lot traded through their referrals on FXGT.com. This all-inclusive commission framework, without hidden fees, enables affiliates to optimize their earnings.
In addition, the program allocates specialized account managers to offer individualized support, streamlining the intricacies of foreign exchange promotions for affiliates based in Namibia.
Overall, we found that the transparent nature of this exceptional support makes the FXGT.com affiliate program the program of choice for individuals interested in capitalizing on Namibia’s flourishing foreign exchange market.
How to Register an Affiliate Account with FXGT.com Step-by-Step
To register as an affiliate, Namibians can follow these steps:
Step 1 – Click on the Partners tab.
Visit the FXGT Partners website (https://mypartners.fxgt.com/) and navigate to the “Partners” tab. Next, click on the “Register” button.
Step 2 – Complete the form.
Please ensure that all sections of the application form are completed accurately, including your details and contact information.
What resources does FXGT.com offer to support the success of Namibian affiliates?
FXGT.com offers Namibian affiliates a wide range of resources, such as promotional materials, real-time tracking tools, and personalized support, to help them succeed.
How does FXGT.com provide support to new affiliates in Namibia?
FXGT.com provides comprehensive support to new affiliates in Namibia, offering a range of resources such as training webinars, a dedicated account manager, and effective marketing strategies.
Customer Support
Customer Support FXGT.com Customer Support
⏰ Operating Hours 24/7
🗣 Support Languages Multilingual
👥 Live Chat Yes
📱 Email Address [email protected]
📞 Telephonic Support Yes
✅ The overall quality of FXView Support 5/5
Response Time
📞 Support Channel ⏰ Average Response Time 👥 User-based Response Time
Phone 2 – 5 minutes 4 – 6 minutes
Email 24 hours Same-day
Live Chat 5 minutes 3 – 4 minutes
Social Media 5 minutes 5 minutes
Affiliate 24 – 48 hours 24 – 48 hours
What customer support options does FXGT.com offer to clients in Namibia?
FXGT.com offers a variety of customer support options to clients in Namibia, ensuring that assistance is readily available whenever needed. These options include 24/7 live chat, telephonic and email support, and a comprehensive FAQ section.
How can Namibian traders receive assistance with account issues?
If Namibian traders encounter any account issues, they can easily reach out to FXGT.com’s customer support team through phone, live chat or email. In our experience with customer support, the team is readily available to provide immediate assistance and resolve any concerns.
User Comments and Reviews
FXGT.com has garnered a mix of user comments, reviews, and opinions, including these:
➡️”I’ve been looking for a broker with minimal commissions, and FXGT stood out. They astonished me with their genuinely raw spreads, and the trading commission costs are quite minimal, particularly for metals.”
➡️”I just had a nice encounter with FXGT’s no-deposit bonus. The withdrawal was faster than expected, and despite some negative feedback, my account remained in excellent position after benefitting.”
➡️”FXGT has been an excellent pick for me as a novice. The trading conditions are good, and the minimum deposit needed to begin is relatively affordable. It’s a terrific platform for getting your feet wet with trading.”
10 Best Forex Brokers in Namibia
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Conclusion
In finalizing our assessment of FXGT.com, we consider a trading platform that, while not locally licensed in Namibia, has established itself as a competitive competitor in the forex and CFD brokerage industry.
In addition, the broker has piqued our interest with its diverse selection of financial instruments, including traditional markets and the emerging world of digital assets such as cryptocurrencies, DeFi tokens, and NFTs.
Overall, we can conclude that it pitches itself as a platform where opportunities and risks must be properly balanced.
Our Insight
I would recommend FXGT.com for beginner Namibians because their minimum deposit is fairly low and as for trading conditions, the leverage and situation with commissions and spreads are favourable. The broker also doesn’t have any hidden commissions.
Our Recommendations on FXGT.com
While FXGT.com has a compelling offer, there is some room for improvement, including the following few points:
➡️Consider expanding the base currency options so that African traders can avoid currency conversion fees while they trade using the platform.
➡️Consider adding more third-party tools to integrate with account types and the MetaTrader suite.
➡️Expand the educational materials and resources to include webinars, seminars, etc.
FXGT.com Pros & Cons
After evaluating FXGT.com for Namibian traders, we provide some of the pros and cons that Namibians need to consider before they invest funds with the broker in the table below.
| ✔️ Pros | ❌ Cons |
| Namibians can register a demo account with FXGT.com before they deposit money | NAD is not a supported deposit or withdrawal currency |
| There is an impressive range of instruments on FXGT.com, including emerging markets like DeFi and NFTs | FXGT.com does not include NAD as a base currency for accounts |
| The spreads charged on major forex pairs start from 0.0 pips | There are no Namibian regulatory entities that oversee FXGT.com |
| Namibians can chat with FXGT.com via live chat 24 hours a day, 7 days a week | While FXGT.com offers negative balance protection, Namibians can still lose their investment if they misuse or abuse leverage |
| There is multilingual customer support offered across communication channels | |
| FXGT.com features MetaTrader 4 and 5 that integrate with its overall offer | |
| FXGT.com is strictly regulated in several regions | |
| There is a 30 USD no-deposit bonus available to newly registered clients |
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Frequently Asked Questions
Is FXGT.com regulated?
FXGT.com is not regulated in Namibia but has licenses from respectable foreign bodies like FSCA and CySEC, among others.
Is FXGT.com open to traders in Namibia?
Yes, Namibian traders can access and trade on FXGT.com, giving them access to typical markets like forex, shares, commodities, and emerging DeFi and NFT markets.
Is FXGT.com offering any sign-up bonuses to Namibian traders?
FXGT.com provides new Namibian traders with a 30 USD no-deposit bonus when they sign up, allowing them to start trading without making an initial payment.
What is the minimum deposit amount at FXGT.com?
FXGT.com’s minimum deposit is 93 NAD (or equivalent in other currencies), making it accessible to most traders.
What security measures does FXGT.com put in place for its traders?
FXGT.com protects traders’ assets and information with strict security measures, including PCI DSS accreditation and segregated accounts.
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Social Responsibility
FXGT.com does not currently provide any information regarding CSR initiatives or projects.