FXTM provides access to industry-standard platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms can be used directly through a web browser or downloaded for desktop use on Windows, MacOS and Linux devices. FXTM’s fee structure is generally competitive, especially since its spreads have been lowered, though it varies by account type, making it suitable for different trading needs. FXTM doesn’t support ETFs, mutual funds, bonds, options, or futures, and the range of available assets can vary depending on the regulatory requirements of the subsidiary you are trading with. Where it stands out from the majority of brokers is its six forex indices, which provide an alternative vehicle to speculate on prominent currencies like USD, EUR and JPY. Ultimately, the mix of international and localized options makes FXTM suitable for traders seeking accessible and varied payment options across different regions.
He has a Masters and Commerce degree and has an active role in the fintech community. Your level of regulatory protection depends on your country of residence when you open an account. FXTM have multiple business entities, regulated by multiple financial authorities. If you’re a new client to FXTM, it might be worth considering choosing the MetaTrader 5 (MT5) platform from the start. There are many reasons to start using FXTM’s MT5 platform or make the switch from your current MT4 broker. While many features are exclusively available on MT5, the fact that you can’t transfer custom indicators and EAs without having the code re-written remains the platform’s biggest drawback.
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These include an orders indicator, pip value calculator, pivot points strategy amongst others. For the ECN account the minimum is a far more competitive 0.1 pips with typical 0.3 pips, but there is also a $2 per lot commission to factor in as well. There are the usual global stock indices, but only 11 to choose from and for individual stocks, there 173 US and European stock CFDs, which is far from an exhaustive list.
Indices
- This FXTM account is designed for individuals who adhere to Islamic finance principles, offering swap-free trading.
- Available on desktop, web, and mobile, these platforms make it easy for clients to stay connected to the markets and make informed trading decisions.
- Yes, FXTM is generally considered a good broker for beginners due to its user-friendly platforms, low minimum deposits, and good learning materials.
- This would allow me to get real-time market updates and expert analysis without leaving my trading platform, similar to tools offered by some leading competitors.
- An appropriateness assessment mandated by the FCA was necessary to set the account leverage.
FXTM forex broker offers its traders a choice of hundreds of deposit methods depending on the location. However, the common deposit methods are Visa, Master Card, FasaPay, GPay, Skrill, Neteller, WebMoney, and Bank Transfer. But, you can also deposit using your local payment methods and currency, depending on your location.
Does FXTM offer a welcome bonus?
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of FXTM’s trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders. It is no small feat to review the FXTM forex broker’s trading fees as there are six main account types, and each has a different set of fees. As mentioned, most accounts do not charge commission and instead make a profit for FXTM via spreads.
- These resources do a solid job of explaining essential terms and trading basics, making them well-suited for newcomers.
- Traders who engage in longer-term strategies or frequently hold positions overnight should consider these swap fees as part of their overall trading cost, as they can accumulate over time.
- Unfortunately, this means that if you’re looking to use cTrader, then you are unable to with this broker.
- The market analysis provides traders with in-depth insights into the latest market trends.
FXTM Review: Customer Support
FXTM offers Multi Account Manager (MAM) on MT4 for easy management and ultimate convenience for traders with multiple accounts. The broker offers the MT4 trading platform across desktop, web, and mobile devices for seamless trading at all times. The broker provides traders with a MT4 and MT5 demo account, which they can use to practice their trading strategies before implementing them on the live trading accounts. The demo account often comes preloaded with virtual funds for practice purposes. You can choose how much to deposit into your demo trading account, up to a maximum of $1 million.
FXTM’s detailed articles, introductory videos, and e-books on fundamental trading concepts and market analysis can benefit beginners. Watch my video walkthrough of the FXTM app below to get a real feel for the design and features. FXTM offers a fxtm broker reviews modest range of CFDs compared to many brokers we’ve evaluated. While many e-wallet withdrawals are fee-free, bank wire and credit card withdrawals may incur charges.
What is FXTM leverage?
FXTM takes fund protection seriously, combining strict regulatory compliance, advanced encryption, and top-tier fund segregation. VT Markets prides itself on offering a technologically advanced trading environment suitable for both beginners… Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website.
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The FXTM spreads for the advantage account is 0, while the commission is the average of $0.40 – $2 based on volume. On the other hand, the spread for Advantage Plus account is 1.5, which has zero commission. Further, FXTM forex broker also offers different account types to suit different needs, including micro, advantage, and advantage plus and FXTM ECN accounts. The company has received a number of awards, including ‘Best Forex Trading Experience 2021” from World Finance. To improve its platform choice, FXTM could consider expanding the variety of trading platforms it offers to meet the diverse needs of its clients. One option FXTM might explore is cTrader, a platform I really enjoy using for its intuitive interface and advanced charting tools.
On a positive note, they maintain strong community spaces where traders can share their knowledge and experiences. FXTM offers secure, flexible, and transparent trading options for over 1.5 million active traders. With a wide range of account types, competitive spreads, and educational resources, FXTM caters to traders of all levels, from beginners to professionals.
MT4 is a classic platform known for stability and simplicity, ideal for Forex and CFD trading. MT5 is the more advanced option, offering expanded charting tools, technical indicators, and access to more instruments like stocks. Both support automated trading and are suited for more experienced traders. FXTM caters to a variety of traders by offering accounts with distinct benefits. FXTM provides diverse trading accounts designed to suit different trader preferences. The Advantage account offers zero spreads and very low commissions, while Advantage Plus features commission-free trading.
Yes, FXTM is licensed by several top-tier regulators which ensures legal operation and compliance across multiple jurisdictions. This multi-regulatory oversight increases trust among traders and minimizes the risk of scams or malpractice. On investing forums, FXTM’s copy trading platform (“FXTM Invest”) was discussed. One user claimed a +102% return in one month through an investment manager, though others cautioned about overly optimistic return claims.
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 is regarded as a quality execution venue and Broker with fast performance, real ECN account, and a range of trading conditions suitable for traders of all levels and very appealing to beginners. Also, Broker is known for its quality services among the trading community, as has been operated for many years, besides being available for UK Trading.
With MT4, you can choose between three order execution types and four pending order types. For analytics, enjoy nine timeframes, 31 graphical objects, 30 technical indicators, and a single-thread strategy tester. If you review the FXTM broker’s overnight rates, you will notice that they are around average. To help you make a decision regarding your trades and to provide transparency, you can see the rates on the Contract Specification page of the FXTM website without logging in.
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