Is FXTM Good?: The Review of FXTM Pros and Cons Summary of Overview Information from Real Trading Experiences

FXTM offers the MT4 WebTrader, the desktop version on Windows and mobile versions for Android and iOS. ForexTime is an online forex and CFD broker with a vision to provide excellent services, innovative trading tools, and exceptional trader education. The brand was launched https://broker-review.org/ in 2011 and has achieved global status with a focus on content localization. The FXTM brand headquarters is in Cyprus while other offices are in London, Nigeria, etc. FXTM states that it has over one million registered trader accounts from all over the world.

  • This people are thieves and they’re not hiding that fact.
  • The MT5 platform is not available for ‘cent’ and ‘shares’ accounts.
  • The broker is not listed on any stock exchange, and its financial information is not publicly available.
  • FXTM warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors.
  • Distribute the profits according to the agreed-upon distribution formula, and you can withdraw profits at any moment.

FXTM is a brokerage provider specializing in leveraged trading. It operates throughout the world, including Asia and Africa. The platform allows you to keep track of the market prices on Forex, commodity CFDs, cryptocurrency markets and more. Experienced and high-volume fxtm review traders will appreciate the benefits of tight dealing spreads and access to an electronic communications network account option that allows direct access to the market. A small commission is charged in addition to the tight market dealing spreads for the ECN account.

Should you buy your silver bullets on FXTM?

FXTM provides forex traders with award winning trading services, strict regulation, deep liquidity for fast trade execution, flexible accounts/leverage, tight spreads and low minimum deposit requirements. Our Company has been providing our services for over 10 years. During this period, we have earned a reputation of a trustworthy and honest broker. Our main goal is to provide the best services in the Forex industry. We’re truly sorry that you have encountered this situation.

We kindly ask you to send your FXTM ID to our email address Our agents will check the information and help you with the withdrawal process. We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. Overall, our FXTM review found them to be an excellent broker choice. However, the spreads offered by the brokerage on standard accounts are much higher than the industry average.

fxtm review

Beyond trading forex, you can also trade commodities, indices, stocks, and crypto assets through FXTM as CFDS. There are a handful of assets, between 2 and 5 available in each of these categories outside forex. A demo account is available at FXTM, and I did not find a time restriction.

FXTM is an award-winning broker offering you a wide selection of instruments, platforms, account types and resources to make your trading experience as efficient and convenient as possible. FXTM offer the industry leading forex trading platforms MetaTrader 4 and MetaTrader 5 for trading on your desktop (Windows / Mac), web or mobile devices (iPhone / iPad / Android / Tablet). I like the desktop platform as it has the most functionality, including automated trading. The web version is great as it runs directly in your web browser and is always up to date. The mobile trading app is perfect if you need to trade on the go from multiple locations.

Does FXTM offer a welcome bonus?

FXTM is authorised and regulated by some top-tier regulatory bodies in the UK, Cyprus and South Africa. Over 250 trading instruments are offered on MT4 & MT5 with tight spreads as low as 0.0 pips. You can take advantage of some advanced tools completely free of charge when trading with FXTM. Several account types are offered, and a low minimum deposit and fully digital account opening serve to get started with trading in no time. A huge selection of educational resources and 24/5 customer support help traders make the most informed decisions. You will find that there are lots of funding options which can be used for convenient deposits without any fee.

FXTM hasclear portfolio and fee reports.You can easily see your profit-loss balance and the commissions you paid. If you are not familiar with order types, readthis overview. You can use the basic order types.You will not find very sophisticated orders like the ‘one cancels the other’ order. Add the amount you wish to withdraw and the reason for your withdrawal. FXTM accepts clients from all over the world, but there are a few exceptions.

It’s clear scammers i got whole chat…

Even though they have a policy that they seems to follow to withdraw back to the same bank account. They have asked me to put more money in before I receive my profits which is called theft/Fraud. Asking me to put in a lot of money before I can even take a dime out. Please note that since we are strictly monitored by several jurisdictions, we need to follow strict rules when it comes to processing payments. We request documentation in order to verify your FXTM Account and Payment method and after checking your account, this verification process is underway at the moment. “Or you can use the powerful ability of Social Trading by becoming an investor, this option allowing you to follow ranked” strategy managers that you can choose through many criteria or filters to follow.

Forex brokers are an important and inevitable aspect of trading the currency market. However, AvaTrade includes premium tradable instruments, including commodities, Forex, indices, and other cryptocurrencies for manual and automated trading for different devices. If you need additional tools and customization options, the Desktop version is the way to go.

You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions. If you are trading in real stocks and ETFs as is possible with FXTM, then a very minimal commission will also be charged. Similar to the majority of brokers, you can expect a swap-fee to be charged when trading CFDs based on the interest rates for that particular day.

fxtm review

FXTM accepts clients from most geographic locations, however the usual restrictions apply to residents of the USA and Japan. Leverage is a very useful tool, especially for small account holders, as it allows potential gains to increase quickly. FXTM is a legit company, operating with four regulatory licenses and acquiring a fifth. It gives its users all the information they need before jumping into action . When you contemplate singing up, the plaque appears at the bottom of the screen. It advices against reckless trading, stating that ‘your capital is at risk’.

Desktop Trading Platform

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees. Having an MSc in international economy and finance, he focuses on equities, cryptos and newcomer financial services. He also has 2+ years of experience within the brokerage industry specializing in stock- and CFD/forex brokers, crypto providers and robo-advisors.

New traders often start to learn to Trade via a Demo account, which builds confidence to trade. A detailed step-by-step tutorial and individual support from your account manager in 16 languages is available. Advantage Plus Account – Is a partner account with zero commission , and spreads from 1.5 pips.

But the problem started when I tried to make the third withdrawal. I’ve been waiting for almost two weeks for the withdrawal to complete, but without success. I spoke with customer service and they told me that I have to pay an absurd 3000 USD fee and that my account is locked, which I think is very unfair since I was not informed about it at any time. 1) You are forced to copy open trades each time you deposit funds. Copying open trades makes sense in case of long-term portfolios, but for the forex market, that simply doesn’t work, and most certainly, it will mean taking losses.

The MetaTrader 4 platform provides simple, interactive charts that allow you to monitor and analyse markets in real-time. You’ll also get access to over 30 technical indicators that can assist you in identifying market trends and indications for entry and exit locations. FXTM charges an inactivity fee of $5/£5/€5 after 6 months of no trading activity on the account.

It has extensive functionality, fundamental technical analysis, copy trading, and automated trading integrated into it, providing you with some of the best trading tools and features available. MetaTrader 5 is also absolutely free to download for all of your devices. For first-time users looking for an app more tailored toward improving their trading skills, Stock Trainer is an alternative option worth considering. This virtual trading app provides the ideal environment in which to learn more about how foreign exchange markets operate. You can choose between six different types of FXTM trading account. Three of these are Standard Accounts and three are Electronic Communications Network Accounts.

Client funds are held in segregated accounts with prominent banks so that they cannot be used for any other purpose within the company. Eligible clients may be entitled to protection of funds under the Financial Services Compensation Scheme . You may lose all your investment here if you don’t follow instructions and stick with your strategy that you designed for yourself.