FXTM Review 2023 Trade with an award-winning forex broker

It is identical to what CySEC offers but does not come with regulatory restrictions. The account variety is very impressive which allows any trader the best suitable option either with flexible or floating leverage. We learned that the broker also provides tight spreads from 0.1 pips, and low deposit requirements, besides education is one of the best provided. So overall, FXTM is very trustable and quiality choice for Forex traders of any size.

The FXTM services are available in 18 languages among which Arabic, Chinese, English, German, Italian, French, Spanish, Russian, Hindi, Indonesian, Malay, Thai and Urdu. Finally, with a MT5 you will have 44 graphic or analytical objects, while with a MT4 just 31. Graphic objects can help you identify the price trend of a financial instrument, to detect cycles and support or resistance levels, and to build trend lines among others.

FXTM provides both the MT4 and the MT5 platform for FX and CFD trading. With so many different definitions for traders to learn, FXTM have compiled a vast glossary of terms and definitions that is freely available on their website. FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand.

Over 30 payment methods available at FXTM

If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee. Join the ForexTime team and receive a $30 trade credit in gratitude for the transfer. To receive the bonus, complete the registration, make a minimum deposit within 30 days and receive a bonus.

The FXTM trading resources are sufficient for most traders and should provide a comprehensive picture of the markets. One of the primary features of FXTM is the ability to open an investment account or a copy trade account, which allows traders to invest in a managed fund or copy the trades of a professional trader. Social trading is becoming one of the most important aspects of trading, and traders will certainly appreciate the broker’s commitment towards offering a modern and efficient Forex trading service.

FXTM provides loyal traders with frequent bonuses, promotions, and the FXTM Loyalty program. Irrespective of the experience level of the traders, there is something for everyone at FXTM. A lucrative deposit bonus of 30% is offered to traders who make a minimum deposit of $100. The maximum bonus that can be claimed from this offer is $150, which is automatically credited to the account.

The minimum deposit requirement is $100 with a 30-lot maximum volume per trade. There is no commission charged on this account although the floating spreads start from 1.3 pips as they are marked up to cover costs. If you just want to check prices and manage trades, MT4 will do the job. If you have more complex trading strategies, then you will probably want to steer more towards MT5.

Services Offered by FXTM

Similarly to the web trading platform, we tested this mobile trading platform. In this review we tested MetaTrader 4, as it is available for all account types and is more used by customers. You’re charged $5 per month after six months of inactivity and most withdrawal methods also have a fee. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. So how did we approach the problem of making their fees clear and comparable?

Standard Accounts include a Standard Account, CENT Account (with micro lots), and Shares Account. For each of these, you can find the notional value for USD, EUR, GBP, or NGN, as well as the leverage offered and floating margin as a percent. The margin requirements and leverage requirements are listed for Standard, ECN, and ECN Zero Trading Accounts. View the requirements in the categories of FX majors, FX minors, FX exotics, spot metals, BTCUSD, ETHUSD, LTCUSD, and RPLUSD.

There are at least several workshops or seminars every week, so there should be one that appeals to most clients. This calculator has you input your investment amount, your expected profit, your profit share, and your gross withdrawal https://forexhero.info/ amount. This will give you the amount paid to the manager based on the profit share and the net withdrawal. It lets you combine three popular indicators with five calculations for pivot points to improve your financial strategy.

What types of traders are a good fit for FXTM?

The Advantage Plus account is designed for professional traders who require high-volume trading and personalized support from a dedicated account manager. FXTM is a well-known broker that offers a range of trading services to its clients, including forex, commodities, and CFDs. While there are many benefits to trading with FXTM, there are also some drawbacks to consider. In this table, we’ll take a closer look at the pros and cons of trading with FXTM, so you can make the right choice about whether this broker is right for you. Some of the pros we’ll cover include their range of account types, competitive spreads, and excellent customer support, while some of the cons we’ll discuss include the lack of cryptocurrency trading and high withdrawal fees.

• The professional account does require a minimum account balance of $25,000 is maintained to qualify.
• This allows traders to amplify their positions and maximize profits on FXTM.
• Then there is a further split to your preference of the trading transactions, instrument, and the trading size, which all in all offers you 3 Account types – Micro, Advantage, and Advantage Plus.
• FXTM does not have their own propriety trading platform, instead choosing to provide MetaTrader 4 & 5 as options.
• We got clear answers even for more difficult questions, like how financing costs are calculated.
• We’re glad to hear that you enjoyed your trading experience with us and that you made a lot of profits too!

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It also includes one-click trading for quick market action, real-time updates that include live currency updates, and state-of-the-art charting tools. In addition, a trading dashboard with your balance, profit, and margin as well as the ability to open, close, or modify positions within a matter of seconds. That mobile application includes unlimited access to MyFXTM as well as cross-platform trading, 250+ financial instruments, no need for extra downloads. MT5’s mobile application includes real-time quotes, trading history, 24 analytical objects, 30 technical indicators, a full-featured trading system with Market Depth. It also includes hedging and netting functionality, built-in chat, push notifications, up-to-date financial news.

Withdrawals can be made using the same methods as deposits, with the exception of Mastercard. Withdrawals made through credit/debit cards may take up to three business days, while withdrawals made through e-wallets are usually processed within 24 hours. Bank wire transfers may take up to five business days for the funds to be credited to the trader’s bank account. For the Micro account, the spreads start from 1.5 pips, and no commission is charged.

FXTM charges a monthly inactivity fee of 5 EUR/USD/GBP/NGN to accounts that have been dormant for six consecutive months. This section will cover how the different entities of FXTM are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust. Overall, ForexTime is a very solid company with good regulations, competitive spreads and a well maintained platform. There is a good range of instruments to trade including the usual Forex and shares option. In addition to the company’s international regulation, it practices segregation of client funds.

There are 8 timeframes, real-time updates with commentary, a user-friendly interface, and downloadable pivot point indicators. Also, over 250 financial instruments, and MACD, moving averages, and momentum. ForexTime has a streaming news Feeder that comes from FX Street, the Forex News Timeline. This is to give traders all of the information they need to make educated trades. To supplement these performance statistics, ForexTime lets traders connect with a Strategy Manager to copy their trades via FXTM Invest.

It follows innovations and advanced technologies in the field of online trading. Since its foundation the broker has proved to be a serious organization that provides high quality services for both newcomers as well as experienced traders. In 2017, the company reached an impressive number of active trading accounts – about half a million. The EU market is considered one of the most strictly regulated ones, when it comes to forex and CFD trading. FXTM is an award-winning broker with strict regulation in multiple jurisdictions. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.

• The MT4 platform offers interactive charts that are easy to read, and traders can analyze the markets in real-time.
• We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.
• Applied to some of the payment methods, while others may be provided with 0% commission.
• Depending on the trading strategy, it may become the most significant fee per trade.

Also, the FXTM UK brand is licensed by the Financial Conduct Authority known as sharp regulator, which has principals built by European MiFID and ICF allowing cross-broker activity. For the Cons, there is a withdrawal fee, and Stock spreads are rather higher, also condiitons vary on each entity. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. We use dedicated people and clever technology to safeguard our platform.

There is no last-look pricing and this account takes advantage of deep liquidity right from ForexTime’s tier-1 providers. The methods for withdrawal are nearly identical, with a few differences. You can withdraw, for example, via China Union Pay and cannot withdraw via Alfa-Click or Cash U. Most withdrawal processing times are 24 hours with the exception of China Online Banking which takes 48 hours. To view the full contract specifications for all trading instruments, go to the Trading Instruments portion of the ForexTime website.

Five ebooks are available to clients, covering cryptocurrencies, Japanese Candlestick strategies, the habits of successful traders, and Elliott Wave fxtm review Theory. FXTM offers trading in forex and CFDs on commodities and indices. CFDs on stocks are currently not available for new clients in the UK.

Clients can also top up funds and make withdrawals through the app. Overall we rate the FXTM Trader App as well designed and especially good for beginners. However, it lacks some popular features such as price alerts and trailing stop-loss orders. With the MT4 mobile application, you get real-time quotes, 9 timeframes, 24 analytical objects, 30 technical indicators, trading history.