FXGT: Relationship with Japan’s Financial Services Agency Financial license registration and thorough explanation of safety of overseas FX companies

FXGT

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 deciding whether a Forex company can be trusted, the question to ask is whether they have a financial license. So does FXGT have a financial license? I will explain the information. If the company is not registered in the country, it is important whether the investment assets are protected. It is also true that there are FX companies and cryptocurrency exchanges that engage in illegal activities. Some people run away with their funds and suffer losses.

FXGT

FXGT has a financial license from the country of Seychelles in East Africa. Many Forex companies are based in Seychelles. Many countries where Forex companies are based are tax havens, so people in developed countries often don’t know much about them. Seychelles financial licenses are relatively easy to obtain, so forex companies are often based there.

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.

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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