Comparing FXGT.com vs tastytrade: Which is better for you?

FXGT.com, the globally regulated broker, provides dynamic leverage and safeguards against negative balance. To the evolving cryptocurrency traders, FXGT.com provides an intensely secured trading scenario. It also offers an impeccable trading experience by employing state-of-the-art technology, swifter execution spans, and competitive spreads.

tastytrade is a relatively efficient online brokerage platform that focuses on options, stock trading, and futures but no forex trading. It holds within a DIY (Do-It-Yourself) approach that bestows the knowledge, technology, and support to emerge successfully all by oneself. Well-advanced functionality for complicated option trades and eminent strategies is its uniqueness.

In this article, we will make a comparative analysis of the account type, fees, deposits & withdrawals, market instruments, and trading platforms between FXGT.com and tastytrade. A comparison of the tools, education support, and customer support is also projected here. This cautious analysis is what makes or breaks your trading. So why wait? Just delve in!

Can you trust FXGT.com & tastytrade?

The trust or safety factor is determined by the extent of protection against any mishap and relies on the background the broker hails from.

FXGT.com is considered a reliable brokerage regulated by renowned regulation firms like the South African Financial Sector Conduct Authority (FSCA) and other international firms authorized by the Vanuatu Financial Services Commission (VFSC) and the Seychelles Financial Services Authority (FSA). Additionally, it owns a CySEC license in Cyprus that applies exclusively to institutional clients. These regulatory boards assure adherence to international standards and local norms, promoting customer protection and coherence with the market. FXGT.com bears an excellent reputation with an amicable trust score of 8.1 out of 10. The security of clients’ funds is prioritized here, accomplished by maintaining isolated accounts for deposits to curb the mishandling of funds.

On the other hand, tastytrade is regulated by the Australian Securities and Investments Commission (ASIC) regulates the accounts of Australian residents, while all the other enrolled accounts fall under the jurisdiction of FINRA and SEC. However, all global clients are eligible for investment protection under the US SIPC (Securities Investor Protection Corporation) protection strategy. SIPC has a protection threshold of $500,000 inclusive of a $250,000 mark for cash. The norms for a US citizen also hold good for a non-US citizen.

Pros and Cons of FXGT.com & tastytrade

This article section bruises the merits and demerits of FXGT.com and tastytrade.

FXGT.com

Pros Cons
Owns licenses from 3 financial regulatory bodies. Higher average fees when compared with other forex brokers.
Lesser initial deposit. Availability of VPS server only upon reaching the turnover and meeting equity requirements.
Supports variable spreads for all account types. Not a part of compensation schemes like FSCS or ICF.
Partnership programs closed by the referee.

tastytrade

Pros Cons
Extensive library of resources and educationally informative content. The platform might end up overwhelming the fresh options traders.
A wholesome customizable trading option. Restricted choices in fixed income.
High-end tools developed extensively for the options trader. Missing on-platform help for paper trading.

Comparison between FXGT.com & tastytrade

Moving forward, a comparative analysis of the various features of FXGT.com and tastytrade is carried out.

Account types

Features of account type differ between FXGT.com and tastytrade. Picking the right account type depends on the individual broker’s business requirements. The following table shows the comparison of account types between FXGT.com and tastytrade:-

Attribute FXGT.com tastytrade
Account types 4 account types: 
  • Mini Account
  • Standard+ Account
  • PRO Account
  • ECN Account
4 account types:
  • Standard Brokerage Accounts (Individual Account, Joint Account, Joint with rights of survivorship account) 
  • Retirement Accounts (Traditional IRA, ROTH IRA, SEP IRA, Beneficiary traditional IRA, Beneficiary ROTH IRA)
  • Entity Accounts (Corporate, Trust)
  • International Accounts
Demo Account Yes No
Islamic Account (Swap-free) Yes No
Sign-up Bonus Yes Yes
Regulating Authorities FSA, FSCA, VFSC, CySEC for institutional-only traders Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the National Futures Association
First Transfer-into MT4/MT5 Trading Account $5 $0

Fees, deposits & withdrawals

Deposits and withdrawals, when made comfortable, assist in panic free pursuit of business. Therefore the comparison table of this feature between FXGT.com and tastytrade is shown below:-

Attribute

FXGT.com

tastytrade

Supported Currency BTC, ETH, USDT, ADA, XRP, EUR, USD BTC, ETH, DOGE, ADA, SOL, LTC, DOT, BCH
Deposit Methods Credit/Debit cards, eWallets, Banks, EFTs, Cryptocurrency ACH, Wire, Check, ACAT
Minimum Deposit $5 $0
Withdrawal Methods Credit/Debit cards, eWallets, Banks, EFTs, Cryptocurrency Bank Transfer only
ACH Withdrawal fee $0 $0
Wire withdrawal fee $0 $25
Transaction fee $0
  • Clearing fee – $0.10 per transaction
  • Futures option clearing fee – $0.30 per contract
Maximum Leverage 1:1000* based on volume 1: 2
Commission Up to $6 per round on ECN $0
Maximum number of positions 200 Stocks – 50,000 shares

Options – 500 contracts

Futures – 500 contracts

Options on futures – 500 contracts

Maximum number of pending orders 200 n/a

Market instruments

The term “Market Instruments” refers to the various types of markets you, as a forex broker, are essential to be aware of. Following is the comparative analysis of market instruments between FXGT.com and tastytrade:-

Attribute

FXGT.com

tastytrade

Instruments Forex, metals, indices, cryptocurrency pairs, synthetic cryptocurrency pairs, energies, the GTi12 Index, stocks, DeFi tokens, and NFTs Equities, options, futures, bonds, ETFs, Stock indices, Paper trading

Trading platforms

A wider perspective of the trading platforms is required for effective trading. A comparative study of the trading platforms in FXGT.com and tastytrade is what is discussed here.

Attribute

FXGT.com

tastytrade

Desktop trading platform Yes Yes
Desktop Platform (Mac) Yes Yes
Web trading Platform Yes Yes
Mobile trading platform Yes Yes
Paper Trading Yes Yes
Navigation Hassle-free Efficient 

Tools

Tools in a trading platform ought to be reliable and advanced in every aspect. They are handy in providing a reliable trading platform. Further, we will discuss the comparison of tools between FXGT.com and tastytrade.

Attribute

FXGT.com

tastytrade

Tools offered
  • Analysis Trading Tools
  • Execution Trading Tools
  • Utility Trading Tools
  • Platform – thinkorswim
  • Strategy Analysis
  • Trade Ideas
  • Profitability Analysis
  • Paper Trading
  • Portfolio Management
Levels tools are offered Silver, Gold, Platinum No levels
Payment for tools Varies based on the choice of tool and account type Varies for each tool

Education support

FXGT.com offers a sentiment analysis beneath “Trader Insights” covering Open Position Ratio, Open Interest by client, Open Interest by value, and Market Sentiment. A section called “Technical Analysis” is also made available to traders, which features daily and hourly charts, volatility forecaster, intraday pivot points, and an economic calendar with information required for the quote and base currency.

Attribute

FXGT.com

tastytrade

Education tools

eBooks Video content

Research tools

Yes Yes

Accessibility of education tools

Android App, iPhone App

iPhone App, Android App 

Stock alerts

Yes No

Charting – After Hours

Yes

Yes

Charting – Technical Studies Yes 0

Charting – Study Customizations

Yes No

Watch List (Streaming)

Yes

Yes

Watch Lists – Create & Manage

Yes

Yes

Watch Lists – Column Customization

Tes Yes

Customer support

The comparison table analyzing the customer support for FXGT.com and tastytrade is as shown below:-

Attribute

FXGT.com

tastytrade

Email Support

Yes

Yes

Live Chat

Yes

Yes

Calls

No

Yes

24/7 Support

Yes

No

Languages supported English, Spanish, Arabic English

Our verdict on FXGT.com & tastytrade

FXGT.com provides a user-friendly platform with flexibility in account types to cater to forex brokers of all expertise. All attributes offered here are comfy for users to comply with. On the other hand, tastytrade has equal potential with the right tech tools and an efficient team by your side. Trading can be absolute fun as you journey with them. Having discussed the attributes of FXGT.com and tastytrade, it’s now your call to make a choice; whichever lets you feel comfortable and safe is where you land.

Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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