Kategoria: Forex Trading

The support team generally responds quickly on live chat, and users report positive interactions with knowledgeable representatives. Additionally, FXTM’s Help Centre serves as a comprehensive resource for traders seeking quick answers and self-help options. The Help Center includes an extensive FAQ section, covering topics such as account setup, deposits and withdrawals, trading platforms, and technical issues. FXTM offers variable spreads tailored to different account types and trading preferences. For Advantage Plus and Advantage Stocks accounts, FXTM provides commission-free trading with spreads starting around 1.5 pips on Forex trading, and from 6 cents on Stock Trading account.

• Again, we see a better-than-average range of payment methods and fast withdrawal processing, but in some cases, fees must be considered.
• FXTM is a member of the Honk Kong-based Financial Commission, where the Compensation Fund protects traders up to €20,000 per claim.
• Therefore, traders should consider FXTM among the most-trusted brokers industry-wide.
• FXTM offers demo accounts via MT4, MT5, and the FXTM Trader mobile app.

What trading instruments can I access with FXTM?

FXTM’s own pivot point strategy helps traders identify profitable trades based on market sentiment and market analysis is segmented by topic to help you find what you need quickly. One of the coolest tools is called the FXTM Periodic Table, which helps you learn forex terminology in a highly visual format. In terms of trading tools such as charting and indicators, both platforms still excel, offering dozens of options at the click of a button. The web-based platform just lacks a little in terms of news and analysis, but for core trading, it is still highly convenient, concise, and professional in its execution. FXTM fully incorporates the web-trading platforms of both MT4 and MT5 for those who desire a more streamlined trading process with no download required.

FXTM has amazing trading features that make it unique among its competitors. For one, FXTM has over 1,000 trading instruments with very low commission fees and low spreads, making it preferable to a lot of forex producers in the market. The broker has a good combination of trading tools, such as a pip calculator, a profit calculator, and a margin calculator.

ForexTime FXTM Review: Everything You Need to Know Before Trading Fees

Remember, you can try out both types of accounts as a demo account if you’re not sure which one will work best for you, and we would certainly recommend this, especially for less experienced traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.

• They have a range of payment options offered to the Nigerian traders as well as the number of trading instruments on offer, with anywhere access platform makes it a good broker in the business.
• This includes pros, cons and an overall rating based on our findings.
• Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money.
• This video breaks down the broker’s key features, trading accounts, and global reach – perfect for anyone wanting a fast, informative introduction to FXTM.

FXTM MetaTrader 4: My Key Takeaways

Forex Trading Seminars – FXTM also run live seminars and events that you can physically attend, though these were on hold at the time of writing this review during COVID-19. Educational articles – There are numerous written educational articles on Forex and CFD trading and technical analysis, from the basics up to intermediate-level concepts. Platform tutorial videos – There are various tutorial videos on how to use the MT4 trading platform. On the individual stock side, there are 50 European stock CFDs and 123 from the US, which again is far from a comprehensive offering. On the stock index side, there are the usual global indices, but these only number 11.

FXTM offers swap-free trading on all the available live trading account options. The swap-free account is designed for clients of the Muslim faith who cannot receive or pay swaps due to religious beliefs. While this account type does not incur any swaps or interest charges on overnight positions, the account holder may be charged an administration fee on trading positions. The demo account features live quotes and simulates live fxtm broker review market conditions in assets like forex, commodities, indices, and stocks.

Which FXTM platform is best for beginners?

Like most regulated financial service providers, FXTM tries its best to maintain quality service and protect its clients. The platform is regulated by the relevant authorities and this makes it easier to hold the broker accountable in case of any fraud or unjust treatment. However, financial trading comes with risk and this is something every trader should be aware of before using any broker, including FXTM. This account is best suited for beginners or traders who are risk-averse.

If you have a trading account and remain inactive for a few months, they deduct $10 every other month under the guise of inactivity fees. Moreover they will take you through several hoops to authorize your withdrawal. Withdrawals via bank cards are processed as refunds of the previous deposits made using the card. Finally, I had to withdraw using Netteller with significant loss in the exchange rate. The Exinity Limited entity offers a great range of payment methods, including bank wire, credit card, digital wallet, and local transfer methods. Deposits and withdrawals at FXTM are processed relatively fast, but you should be aware that fees are charged for withdrawals in some instances.

This is available to all traders and you can start to copy successful traders with as little as $100. If you also want to get copied then you can earn a commission for every follower who copies your trades. These are provided by both the MT4 and MT5 trading platforms and come in at a total number of 38 charting indicators, and 44 drawing tools to help you customize your charts and trading experience. To this end, FXTM engages all of the tools provided by the trading platforms to assist you. If you are an FXTM ECN account holder, then market executions are offered. These results in no requotes and the broker does not act as a counterpart to these trades since you will be trading on the markets directly.

Another reason FXTM beats out many competitors is its PAMM and managed accounts. These accounts offer a viable solution for people who want to make money in the forex market but do not want to trade the market themselves. FXTM offers new traders excellent educational resources that include live online webinars and local seminars, videos and tutorials.

The $7.0 commission for a 1 Lot trade on the Advantage Plus account compares well against industry standard commissions of competitors. For example, the Zero Spread Account with Fusion Markets comes with a $4.50 commission per round turn, which is, at present, considered the most competitive in the industry. This broker review focuses on the most important aspects of FXTM that you may want to consider before deciding whether to trade with it or not.

MetaTrader Apps 💻

Compared to the brokers listed below, FXTM’s commissions are in line with those offered by its competitors, which are generally competitive. Also, FXTM is known for its ECN accounts and quality execution, while the software provided is on a quality level too, yet for platform selection other brokers provide specialized software while FXTM does not. FXTM ECN Account, under Exinity Limited in Mauritius, is designed for experienced traders seeking direct access to the interbank market with transparent pricing and competitive trading conditions. This account type offers ultra-tight spreads, often starting from 0.1 pips, providing access to a range of instruments.