I’m introducing how to open multiple account in FXGT.
As summarized in the separate article “How to choose the best broker for beginners” and “The story saved by negative balance protection system“, by utilizing multiple accounts, you can operate more efficiently with less risk.
For example, if you make a profit, you can transfer it to another account frequently, or set a low leverage for highly volatile currency pairs or CFDs.
In FXGT, you can open up to 5 accounts in each account currency.
There are 7 account currencies in FXGT, it means you can open up to 35 accounts totally.
*As of 2021 February, opening XRP account is suspended.
You do not need to verify your identity to open the second and subsequent accounts, and you can create one in less than one minute.
In this article, I will explain not only how to create additional accounts, but also how to transfer funds and how to delete accounts that are no longer needed.
If you didn’t open FXGT account yet, please refer to another article “How to Open FXGT Account” and open it first.
Why You Need Multiple Accounts
By having multiple accounts, you can get the following benefits.
- Risk can be reduced by operating with multiple accounts
- Different account currencies and leverage can be selected
- You can change the trading tool
Distribute Risk to Multiple Accounts
By changing the currency pair and CFD to trade for each account, the risk itself is distributed to multiple accounts.
In addition, by setting the amount of each fund as small as possible, even if you got a loss cut, the damage can be minimized.
With negative balance protection system, which is one of the biggest features of forex brokers, you will not be in debt.
Therefore, if you make a profit, transfer funds to another account.
If you trade different currency pairs or different CFDs, it should be easier to calculate margins if you do not have the same account.
Different Currency, Different Leverage
When creating another account in FXGT, you can specify the account currency and leverage setting in the same way as when creating the first account.
For example, when you want to start trading USD pairs with another account, you can set the account currency to USD for easy fund management.
In addition, you can also change the maximum leverage setting for each account.
When trading products with high volatility, you can reduce the possibility of hitting a loss cut by lowering the maximum leverage setting in advance.
FXGT allows you to trade with 1:500 high leverage, but the minimum leverage can be set from 1:5 by yourself.
Please refer to separated article “FXGT Account Type” to know the conditions and specs of FXGT account.
How to Deposit into Additional Account?
There are two methods.
One is to deposit money into the additionally created account as before.
The other is the transfer of funds from an existing account.
You can easily transfer funds from the website.
The caveat of transferring funds between accounts in FXGT is that you can only transfer funds between accounts in the same currency.
Details will be described later.
Complete in 1 minute if you have verified your identity
If you already have a real account and have completed the verification, you do not need to verify your identity to add an account.
Creation is completed in 1 minute.
If you haven’t been verified for your main account yet, take this opportunity to do it with referring to the description in the article “How to Open FXGT Account“.
How to Open FXGT Additional Account
The basic flow is the same as when creating a main account.
However, since you have already entered basic information such as your address and verified your identity, you only need to specify the account type, currency, leverage, and other account specifications of the account you want to add.
It’s very easy.
Login to FXGT Client Portal
Login to FXGT client portal from top page.
Open a Additional MT5 Account
Click TRADING ACCOUNT to display the list of accounts.
Select “Open Trading Account” from “MT5” on the upper right.
Select LIVE ACCOUNT
Select LIVE ACCOUNT.
Select Account Type
Select an account type you want to open additionally.
You can choose a different account type than the one you have already opened.
Set Account Currency
Select the account currency you want to open.
With FXGT, you can create up to 5 accounts for each account currency, but when you hover the mouse cursor, the remaining number of accounts can be shown.
Select Leverage
Select leverage.
You can change leverage setting later.
Additional Account is Created
An additional account has been created.
The additional account has been created
You will receive the login information for the additional account by email.
Please do not forget the login information, password, and connection server name of MetaTrader.
Deposit / Transfer Money to Additional Account
There are two ways to deposit money into the added account.
Deposit, this is a normal way to fund it.
Internal transfer, if you have enough funds in your existing account, internal transferring funds is quick and easy.
However, in the case of FXGT, please be noted that the transfer of funds between existing accounts is limited to accounts of the same currency.
For details on how to deposit to your FXGT account, please refer to the separate article “How to deposit in FXGT“.
Summary
As you know now, you can open an additional account and do transfer funds easily in FXGT.
Make good use of it and operate with reduced risk.
＼Just 1 minutes!!／
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