We will explain the registration of FXGT, an overseas FX company, with the Financial Services Agency. Therefore, it is very important to know whether or not it has been approved by the Japanese Financial Services Agency. Do these two companies hold financial licenses?
Have you obtained a financial license?
When you think about whether an FX company is trustworthy, you may wonder if it has a financial license. So does FXGT have a financial license? We will explain the information. If it is an unregistered company in Japan, it is important to know whether your investment assets will be protected. It is true that there are FX companies and cryptocurrency exchanges that are engaging in illegal activities. Some people have lost their funds because their funds were stolen. Those who are engaged in financial businesses are subject to local regulations and supervision when providing securities services and other activities to residents. There are restrictions on financial instruments businesses. This type of business is prone to problems.
FXGT
FXGT has obtained a financial license from the country of Seychelles in East Africa. Many FX companies are based in Seychelles. Many of the countries where FX companies are based are tax havens, so people in developed countries are often unaware of them. Since it is relatively easy to obtain a financial license in Seychelles, FX companies that conduct foreign exchange margin trading are often based there. Individual customers can receive support on business days from the website, even if they are overseas or global.
Are there any problems with the reliability and safety of FXGT?
FXGT is said to be a relatively reliable company. The reasons for this are as follows. You can rest assured that it is safe and offers high leverage, and there are target accounts depending on your purpose. As mentioned above, it has a financial license and is regulated by law, so it can be said to be safe.
separate management
FXGT is a tier 1 bank with strict segregation of client funds. By managing the funds separately, FXGT prevents misuse and personal use of the customer’s funds, which is a very safe system.
Take out liability insurance
FXGT has liability insurance covering up to EUR 100 million, so your funds are well protected in the unlikely event that something should happen. Therefore, it can be said that it is a Forex company that can be operated from a trader’s perspective.
Trust maintenance
On the other hand, no trust protection is provided. Trust preservation is a method of entrusting customer funds to an external financial institution (such as a trust bank) and keeping them under the supervision of a third party. Please note that if FXGT goes bankrupt, there is no guarantee that the account funds will be returned to the trader in full.
Relationship with Japan’s Financial Services Agency
The operation of FXGT (360 Degrees Markets Ltd.) has received a warning from the Japanese Financial Services Agency. The reason for this is that FXGT was determined by the Japanese Financial Services Agency to be providing services to Japanese people without permission. This is because the Financial Services Agency has warned us because we operate an official Japanese website. I hear that the company has received a warning from the Japanese Financial Services Agency, so I don’t think it is reliable, but considering the details of the warning, it is not an issue to take seriously. Why is FXGT not allowed? This is because of the following reasons.
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Zero cut system
Japan does not use a zero cut system. In order to obtain permission from the Japanese Financial Services Agency, there is no choice but to lose this system, but if you do this, it will become a very unattractive FX company from the user’s point of view. Zero cut is a mechanism that the Forex company compensates instead when the account funds become negative. There is no risk of the trader incurring debt.
leverage
Japan’s Financial Services Agency (FSA) has a strict leverage limit of 25 times. But in FXGT the maximum leverage is 1000x. Traders are opening accounts because this leverage has great benefits. You can see FXGT’s intention that they don’t want to go out of their way to get permission from the Japanese Financial Services Agency to go out of their way to impose leverage regulations. Lowering the leverage to 25x would probably cause the company’s sales to drop significantly.
Is it illegal to use FXGT?
So, is it illegal for Japanese people to use FXGT? Please rest assured that this is not the case. Just because the Financial Services Agency doesn’t approve it doesn’t mean you can’t use it. However, it does not come with any warranty, so use it at your own risk. Therefore, there is no problem in using it. However, exchanges and companies are prohibited from directly soliciting users regarding financial products. This is prohibited and the company will be subject to penalties.
Few restrictions
FXGT has few restrictions. You can do anything from installing and setting up automated trading (EA) to scalping. You can make full use of your funds and invest in a wide range of products, including CFDs, gold, precious metals, stocks, and virtual currencies. Leverage is high compared to the industry, so you can trade with confidence until the contract is executed. This is definitely the best level broker in Japan.
There are many brands
The famous FXGT handles many products. If you have basic knowledge, you can invest in popular brands. You can do everything from transfer to settlement with peace of mind, so there is a proven track record. Even if you are worried, you can aim for a sufficient profit as long as you comply with the policies and guidelines. The system is solid, so beginners and professionals can invest in a wide range of currencies depending on their level. There is no need to worry because multiple investments are possible at the lowest price. It is a reputable company with many currency pairs and products.
Is there a withdrawal refusal on FXGT?
So far, there are rumors that FXGT refuses withdrawals, but no such incidents have actually occurred except for users who violate the rules. FXGT has a large number of Japanese users, but even though there have been tweets about their withdrawals being refused, their authenticity is being questioned. Certain orders may go through, so it may not be as advertised. Users will have no choice but to try operating financial services themselves.
As you can see above, violation of the rules is the biggest risk. Scalping and double trading in securities trading with general tools are OK depending on the situation, but malicious trading or fraudulent use of bonuses may result in withdrawals being refused. Approved methods vary depending on the method and category, so be sure to check the terms of use.
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