If you’re looking for a reliable and innovative trading platform, you’ve likely come across FXTM Broker. With over a decade of experience in the financial markets, FXTM Forex Broker is a well-established brand offering trading services to clients worldwide. But, is this the right trading platform for you? Our comprehensive FXTM Broker Review aims to answer that question and provide you with all the necessary information to make an informed decision.
Overview of FXTM Forex Broker
Company Background
FXTM (ForexTime) is a well-established forex broker that has been providing trading services to clients around the world since 2011. The company was founded by a team of experienced financial professionals who shared a vision of providing traders with access to the global financial markets in a safe and transparent manner.
The broker since grown into a global brand with a presence in multiple countries, offering a wide range of trading instruments, including forex, stocks, commodities, and cryptocurrencies.
FXTM prides itself on providing clients with cutting-edge trading technology, as well as high-quality education and support services. The broker’s commitment to innovation and customer satisfaction has earned it a reputation as one of the most reliable and trustworthy forex brokers in the industry.
Licenses and Regulations
FXTM is licensed and regulated by multiple financial authorities around the world, including
- the Financial Conduct Authority (FCA) in the UK
- the Cyprus Securities and Exchange Commission (CySEC) in Cyprus
- the Financial Sector Conduct Authority (FSCA) in South Africa
These regulatory bodies are known for their rigorous standards of financial oversight and ensure that FXTM adheres to strict rules and guidelines to protect its clients’ interests.
In addition to its regulatory licenses, FXTM is a member of the Investor Compensation Fund (ICF) in Cyprus, which provides an extra layer of protection for clients in the event of the broker’s insolvency.
FXTM also holds a Category 1 Global Business License from the Financial Services Commission (FSC) in Mauritius, which allows the broker to offer its services to clients in multiple jurisdictions.
Awards and Recognitions
FXTM has received numerous awards and recognitions for its trading services, reflecting the broker’s commitment to providing high-quality products and services to its clients. Some of the most notable awards and recognitions include:
- Best Forex Broker, 2020 – European CEO Awards
- Best Trading Experience, 2020 – World Finance Magazine
- Best Online Trading Services, 2020 – Global Brands Magazine
- Best Forex Education Provider, 2020 – International Business Magazine
These awards highlight FXTM’s dedication to providing its clients with a seamless trading experience. As well as its commitment to education and customer support.
Advantages and Disadvantages
Account Types and Features
Main account types
FXTM offers three main account types: Standard, Cent, and Shares.
The Standard account is suitable for most traders. It offers variable spreads starting from 1.3 pips, no commission charges, and a minimum deposit requirement of $100.
The Cent account is designed for beginner traders. And allows them to trade in smaller volumes with a lower risk of losing large amounts of money. The account offers fixed spreads starting from 1.5 pips, no commission charges, and a minimum deposit requirement of just $10.
The Shares account is designed for traders who want to trade in stocks. And offers direct market access to a range of international stock exchanges, including the NYSE, NASDAQ, and LSE. The account offers variable spreads starting from 0.1 pips. Commission charges starting from $0.10 per share, and a minimum deposit requirement of $100.
ECN account types
FXTM also offers two ECN account types: ECN Zero and ECN. These accounts offer direct market access, tight spreads, and low commissions, making them suitable for advanced traders and scalpers.
The ECN Zero account offers spreads starting from 1.5 pips, no commission charges, and a minimum deposit requirement of $200.
The ECN account offers spreads starting from 0.1 pips. Commission charges starting from $2 per lot, and a minimum deposit requirement of $500.
FXTM also offers a free demo account that allows traders to practice their trading strategies and get familiar with the platform without risking real money.
Overall, FXTM offers a range of account types to suit the needs of traders at all levels of experience, from beginner to advanced, with varying trading styles and preferences.
Deposits and Withdrawals
FXTM offers a range of deposit and withdrawal methods, including bank transfer, credit/debit card, e-wallets, and local payment options.
Deposits and withdrawals are processed quickly, with most methods taking just a few minutes to complete.
FXTM does not charge any fees for deposits or withdrawals, although some payment providers may charge a fee for their services.
The minimum deposit and withdrawal amount varies depending on the account type and payment method, but generally ranges from $10 to $50.
FXTM allows traders to fund their accounts in a range of currencies, including USD, EUR, GBP, and more.
FXTM uses advanced security measures to protect clients’ funds and personal information, including SSL encryption and segregated accounts.
Overall, FXTM provides a hassle-free and secure deposit and withdrawal process, with a range of payment options and no fees. Traders can easily manage their funds and focus on their trading strategies with peace of mind.
Trading platforms
FXTM offers a range of trading platforms to suit the needs of traders. Including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
FXTM also offers a web-based platform. It allows traders to access their accounts and trade directly from their web browser without the need to download any software.
The FXTM mobile app is available for both Android and iOS devices, providing traders with the flexibility to trade on-the-go.
FXTM’s trading platforms are reliable and fast, with low latency and minimal downtime, ensuring that traders can execute their trades with precision and speed.
The platforms are also highly customizable, allowing traders to personalize their trading environment to suit their preferences and trading style.
Overall, FXTM offers a range of advanced and user-friendly trading platforms, ensuring that traders have the tools and flexibility they need to execute their trading strategies effectively.
Trading conditions
FXTM offers competitive trading conditions, including low spreads, fast execution, and high leverage.
FXTM allows traders to trade a wide range of instruments, including major, minor, and exotic currency pairs, as well as CFDs on stocks, indices, commodities, and cryptocurrencies.
The broker offers variable spreads starting from as low as 0.1 pips on the ECN account type, providing traders with the best possible prices in the market.
FXTM offers fast execution speeds, with orders processed in milliseconds, ensuring that traders can take advantage of market movements as soon as they happen.
FXTM offers high leverage of up to 1:2000, allowing traders to trade with large positions even with a small amount of capital.
Overall, FXTM provides competitive trading conditions, including low spreads, fast execution, and high leverage, ensuring that traders have the best possible trading experience and can maximize their profits.
Conclusion
In conclusion, FXTM is a reliable and reputable forex and CFD broker that offers a range of services to suit the needs of different types of traders. The broker is regulated by several financial authorities, which means traders can be confident that their funds are safe and secure. FXTM offers traders access to a range of trading platforms, including MetaTrader 4, MetaTrader 5, and their proprietary FXTM Trader platform. The broker provides excellent customer support, and traders can access a range of educational resources to help improve their trading skills. While FXTM’s product offerings may be limited, it’s still an excellent choice for traders looking for a reliable and competitive broker.
