FXTM presented itself as a leading broker for emerging markets. Traders can use exceptional MT4 and MT5 trading platforms. Moreover, there’s quality research and education. This FXTM review is here to help you see if the venue is as good.
Stick around for more interesting details. There are many of them that you should be mindful of. Let’s dive in!
|Regulation||CySEC, FSCA, FSC, CMA, FCA|
|Instruments||1000+ financial instruments, 50+ currency pairs, CFDs on crypto, Spot metal, Shares, Commodities, and Indices.|
|Platforms||MetaTrader 4 & MetaTrader 5|
|EUR/USD Spread||1.5 pips|
|Base Currencies||Various base currencies|
|Education||FXTM Education Center|
FXTM Regulation and Security
FXTM is one of the world’s leading brokers. It has an outstanding number of customers and quality offerings altogether. This broker sets its core on reliable trading needs and accurate education tools. Moreover, it brings trading across the world, regardless of the trader’s proficiency.
FXTM is a legit, secure, and reliable broker. It is highly regulated, keeping licenses in many jurisdictions. This legit broker is also attaining a license in Kenya as it extends across the African mainland.
FXTM stays one of the more transparent brokers. They care about trading conditions, giving clients a distinctive edge.
Trading with a licensed broker will restrict the possibility of scale and malpractice. It is advisable for traders to see if there are any regulations.
In addition, always verify it with the regulator. Do that by scanning the license with their database. Remember that FXTM gifts traders with 4 well-regulated entities.
How Are You Protected?
FXTM license means its obedience to all the rigid regulatory requirements. So, the funds of traders are safe, as the broker fully segregates funds from the operating funds of the FXTM. It does that while keeping in respected EU banks.
Moreover, FXTM is a partner of the Investor Compensation Fund that reimburses in case of the firm insolvency. There’s also negative balance protection.
FXTM delivers the utmost leverage up to 1:2000. However, it is a six-tier system. It declines as trading volume increases, which is an intelligent choice.
Most retail traders will fetch between 1:500 and 1:1000. Furthermore, trading volumes of 60.0 and above slowly drop to 1:200, 1:100, and 1:25.
It is another industry-leading trait available at FXTM. Are you a resident of Europe or the United Kingdom? Or are you holding an account under a European body that follows the ESMA law? In that case, the highest current leverage ratio is the following:
- 1:30 – Forex instruments
- 1:20 – Metals, 1:10
- 1:20 – Minor currency pairs
- 1:5 – Shares
Account Types Offered
Let’s talk about account types offered at FXTM. Forextime delivers two trading accounts – Micro and Advantage Plus. Also, there is one commission-based option – Advantage.
Micro mandates a minimum deposit of only $10 or a coin equivalent. At the same time, the other two account types need a minimum deposit of $500.
It is advisable to use the commission-based option. Why? Trading costs stay among the best ones. Moreover, both commission-based accounts charge somewhat costly fees.
A demo account is present at FXTM. It is unknown if there are trading time restrictions. Therefore, it is ideal for testing strategies and expert advisors.
Forex demo account is available for MT4 and MT5 and lets traders choose the demo account balance and leverage.
While no demo account can mimic live trading conditions, the options available at FXTM come as close as feasible to doing so.
FXTM Pro Account
The FXTM Pro Account caters to skilled traders, as the name implies. FXTM also promotes it to institutional traders and hedge funds. It needs a minimum deposit of $25,000 or currency equivalent to open.
Holders fetch commission-free raw spreads from 0 pips. FXTM attains its revenue from volume in this account type. Spreads will average above 0.2 pips, which remains one of the most popular offers industry-wide.
Average trading prices for liquid currency pairs are varying between $0.00 and $2.00 per 1 standard lot and max leverage of 1:200. FXTM broker has put together an account type for skilled traders with industry-leading requirements.
Traders in the FXTM Pro account have no restrictions on trading strategies.
They can utilize the MT4 and MT5 trading platforms. Moreover, the lowest transaction size hangs around 0.01 lots.
Deposits and Withdrawals
Speaking of funding options, FXTM made it quite straightforward. There’s a spectrum of funding options to choose from. You will easily find a convenient money transfer provider.
Numerous payment methods will entitle you to transfer funds quickly. You can use bank wires, credit cards, and some digital wallets.
The minimum investment is among the average in the industry. However, fees are either zero or very slight.
How to withdraw money from the platform? Take a look at the following steps:
- Log in to your account in MyFXTM and visit the “Withdraw” page via “My Money”
- Choose the withdrawal option, needed amount, and select “Withdraw”
- Finish the withdrawal request along with the PIN that will arrive in your inbox or cellphone via SMS
- Verify the withdrawal request and click “Submit”
Established on our results, FXTM offers a good span of markets and account features. This is terrific news for every trader out there!
The trading markets consist of 1000+ financial instruments. There are also Forex products with more than 50 currency pairs. There are crypto assets such as BTC, ETH, LTC, and Ripple. All of these options are simply mind-blowing!
Trading Software Overview
FXTM trading tech and toolbar use the industry’s greatest platform providers. These platforms don’t need a presentation, as these are MT4 and MT5.
Nevertheless, the progressive tech of the MetaTrader was integrated with FXTM’s remarkable trading services. These allow smooth function and enhance your trading capacities.
Web Trading Platform
We know that the FXTM platform supports MT4 and MT5 software. Notably, both of these deliver different versions. That can be the web platform or the one you can install instantly on any device.
Web trading software is a terrific option if you are a newbie trader. Why? The platform is accessible from the browser. It doesn’t need any installation, by all means.
Do you need more tools along with effective customization? If yes, you better choose the Desktop version. MetaTrader supports all types of devices including PC and MAC. Thus, you will always have access to your account.
All critical and practical tools are also incorporated into the package. There are risk management, analysis, and unique trading tools.
FXTM broker has outstanding customer support that is available through numerous sources. There is support via chat, phone, emails, apps, etc.
Apart from the positive reviews in terms of its good standing, FXTM also supports a span of languages. You will always get help whenever you need it.
There are time-honored headquarters in Asia, Europe, and more. So, it is proper to state that FXTM covers the global needs of traders.
The research team at FXTM provides market analysis in written format, YouTube videos, and podcasts. They present a brief outline and an informative take on market affairs. FXTM broker also retains its signals service for traders aiming for actionable breakdown.
Newbie traders have access to one of the vastest educational offerings. These consist of a video library with dozens of videos, written content, and a resourceful periodic table.
Tip: Aside from legitimate firms, there are companies that market systems—such as signal sellers or automated trading—and often sell things that are not safe and do not yield profitable results. These phony sites often pray on people on different venues or forums. Always be mindful of this!
FXTM Overall Summary
Finishing the FXTM review, we can see that this legitimate broker has many benefits. It gives rookies and skilled traders terrific trading potential. Notably, FXTM is one of the leading forex brokers. In addition, there are other countless benefits and global coverage.
The account options are exceptional. It lets any trader choose between flexible or floating leverage. However, don’t forget that the broker also delivers tight spreads from 0.1 pips.
In general, FXTM is a trustworthy broker and everyone can feel safe using it.
FAQs About FXTM Broker
Is FXTM A Good Broker?
FXTM is a reliable and outstanding broker. You can safely try it out.
When Was FXTM Founded?
FXTM was founded in 2011 and has climbed the ladder even more since then.
What Is The Minimum Deposit at FXTM?
There is a minimum deposit of $10. So you can get started without stressing too much.
How Long Does it Take to Withdraw from FXTM?
The whole withdrawal process usually takes about 1 or 2 business days.
What Methods Can I Use to Deposit Funds at FXTM?
You can use credit or debit cards, digital wallets, and wire transfers.