FXTM Review 2023: Is This Broker Platform Safe for Trading?

The https://forexhero.info/ platform also provides access to proprietary and free VPS systems via the regulated broker if the traders meet certain criteria. Professional traders can also access negative balance protection and use segregated retail investor accounts that keep their funds safe on the platform. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds.

It is necessary to create a clear trading plan and strategy and stick to it. Focus on the difference between return and risk instead of just focusing on profit. Avoid emotional pressure when trading and stay relaxed and patient. In addition, learn and constantly improve your skills and knowledge of Forex trading to achieve success in the field. The above notes will help you get the best results when participating in forex trading and ensure that you minimize your risks and maximize your profits.

Opening an Account

Its ECN operation gets its price feeds and channels its orders to top-tier banks with deep liquidity, world-renowned exchanges, and major financial institutions. FXTM offers swap-free trading on all the available live trading account options. The swap-free account is designed for clients of the Muslim faith who cannot receive or pay swaps due to religious beliefs. While this account type does not incur any swaps or interest charges on overnight positions, the account holder may be charged an administration fee on trading positions. The minimum deposit at FXTM for the Micro Account is $50 or a currency equivalent. The Advantage and Advantage Plus alternatives each require a minimum deposit of $500.

• Let us now learn more about the deposit and withdrawal options offered by FXTM, followed by trading and non-trading fees, FXTM commissions, & more.
• FXTM use tiered commissions which mean commission costs will are lower if you hold more equity in your FXTM trading account and the more volume you trade.
• For traders on-the-go, web-based trading and mobile trading through FXTM mobile trading application is also available.
• ForexTime UK Ltd is also regulated and authorized by top-tier FCA or Financial Conduct Authority .
• This means that the brokers cannot use client funds for their own retail operations, thereby ensuring protection at all times.
• Several exceptional trading platforms are available, such as MT4 and MT5, that are helpful regarding VPS hosting.

If you have any suggestions for improvement, please do share it with us and we will do our best to implement them. And if you need any assistance in the future, our team is always available to help you through our Live Chat portals. We are sorry to hear about your experience with your withdrawals and we apologize for it. We process successful withdrawals on a daily basis for more than 4 million clients worldwide. At times, we do face technical issues but we do our best to resolve these issues ASAP.

Forex demo account is available for MT4 and MT5 and allows traders to select the demo account balance and leverage. While no demo account can simulate live trading conditions, the options available at FXTM come as close as possible to doing so. FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types. Good broker, good execution, tight spreads, easy and quick deposit and withdrawal process, many payment options.

It is the best company in the world.

FXTM has gathered more than 25 awards for its products and services since it started in the trading industry. Having discussed the security and regulations of FXTM, it is now time to explore their education resources. FXTM offers a comprehensive range of educational tools for traders looking to improve their forex trading skills. From interactive tutorials and videos, to webinars and seminars, they have an array of learning materials available to help both beginner and experienced traders gain greater insight into the markets.

You may lose all your investment here if you don’t follow instructions and stick with your strategy that you designed for yourself. So we teach you how to design and plan your own strategy for better trading experience. But i dont know why i had to go through hell before i finally got my money transferred to my mobile money wallet. I hope they resolve whatever issues they have in order to regain the trust of their customers. I had to go through this whole long identification process.

The brokerage has been recognized with 25+ industry awards since it launched over a decade ago. The FXTM brand is authorized and regulated across several entities including; ForexTime Ltd, Exinity UK Limited and Exinity Limited. While using FXTM’s educational materials, we were pleased with the clarity and ease by which you can follow the content.

Related Forex Brokers

I have an account with Jimmy French and done the same.He lock my account and ask for 1200 to open it and I gave him the money now he wants 5k to realize the money I have in my account. I’m afraid to open an account with FXTM after reading a few bad review here. Leading Forex broker FXTM has just announced that it has appointed Tan Chung Han as a new Market Analyst of the FXTM Market Research team, with a focus on Southeast Asia .

Every other feature is similar to the Advantage account type. Payment Method – FXTM understands the significance of providing secure and convenient deposit and withdrawal methods. Due to this, the brokers have provided the fastest and most uncomplicated payment methods so that the traders can trade without worrying about missing opportunities because of delayed payments. Although, if you want to trade with an ECN type broker then their overall fees (including spread + commission) is much lower than most other brokers. Their Advantage account has low trading commissions per lot, so the overall trading fees is competitive with this account.

Stocks

FXTM supports using popular MT4/MT5 trading platforms that offer a sophisticated and familiar user interface for professional traders to start trading immediately. Trading conditions offered are important in choosing a Forex Broker. When you trade with FXTM , you would have a lot of trading options to choose from. You can trade Forex, Spot Metals, Stock CFDs, CFDs on indices, and CFDs on commodities. It offers currency pairs, tight spreads, a free demo account with free virtual funds, and is definitely a secure and reliable broker. FXTM gives its clients a number of options in choosing what type of account the trader would like to use or what type fits him/her best.

Select a trader who best matches your goals by using the tools provided by FXTM Invest to filter the available traders. FXTM offers zero commissions on the Micro and Advantage Plus accounts. From the table above, the spreads offered by FXTM MT4 Accounts are quite higher than those offered by the big names in the industry — for example, IC Markets, IG Markets, and Fusion Markets. A swift online application onboards new clients, and the process takes less than 20 seconds, as FXTM does not collect unnecessary information.

FXTM offered a $30 welcome bonus but canceled the promotion. Check out the current account balance requirements at FXTM in our What is the minimum account balance at FXTM article. Is FXTM legit features all the key aspects you need to look at to see if a broker is safe and legit. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. The quality of educational texts and videos are superb as well.

What is the spread at FXTM?

FXTM stock trading gives access to direct liquidity pricing and real-time data for NASDAQ and NYSE indices. Note that stock trading activities are available only on the FXTM MetaTrader 5 platform. Trading account holders with a minimum balance of £250,000 can become eligible to receive spreads of institutional levels. Lot sizes for stock trading include standard to mini to micro, ranging between 0.01 to 250 lots per trade. A Diverse Range of Trading Platforms – FXTM offers a variety of trading platforms to optimize the trade experience of its users, irrespective of the platform or device being used. Like other brokers, traders at FXTM can use MT4, MT5, and the proprietary Web Trader platform conveniently and easily.

The FXTM Pro Account is designed for professional traders only. If you trade an institutional account, manage a hedge fund or simply manage your fund of $25,000 or more, this account is for you. ECN Accounts allow your orders to be matched with the best bid and ask prices, offered by a list of top-tier liquidity providers. Short for an Electronic Communication Network, they are an automated connection to liquidity providers that cut out the dealing desk middle man at your broker. The sheer popularity of the MT4 platform has meant that FXTM will never close MT4 accounts and force clients to change to MT5.

Upon verifying your account, you will have to fund it using any available payment methods before you can start trading. Here is the minimum spread for the EUR/USD and the trading costs per 1 standard lot in both. FXTM is a legitimate, safe, and secure broker, as it is highly regulated, holding licenses in several jurisdictions, including the tier 1 financial center of London. Its UK license may entitle account holders to state compensation in the event of broker bankruptcy of up to £85,000. I like that Forextime continues to adjust to market and regulatory changes, ensuring traders maintain a competitive edge. The degree of transparency is another positive I want to point out.

We’ll discuss fees, customer service, security, account types, and more – helping investors determine if this broker is right for them. With state-of-the-art trading platforms available for various operating systems for both desktop and mobile devices, a cutting edge mobile application and a fully featured MyFXTM portal. 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.

FXTM provides quality educational content and market research for beginners. Low minimum deposit, higher leverage, and proprietary copy trading platform with strategy managers’ support. Advantage Plus is the third live trading account option at FXTM. The account offers the same features as the Advantage account option but with zero commissions.

All clients except UK and EU clients, can use FXTM Invest, a social trading service.This means, if you are onboarded under Mauritius regulation (FXTM’s Exinitiy Ltd entity) you’d be able to use this feature. The available stock markets are NYSE, NASDAQ and the Hong Kong Stock Exchange. We tested the credit card withdrawal and it took one business day.

This is typically how things go this time of year, so it is something that I plan on taking advantage of. When writing this FXTM review, the trading platform has a 30% deposit bonus for all its registered traders. FXTM is a reliable forex broker regulated in several jurisdictions. Brokers at FXTM offer complete segregation of funds for retail CFD accounts. Moreover, FXTM is a part of the Investor Compensation Fund, or investor accounts lose money to a fund that guarantees to compensate if the company becomes insolvent. FXTM is a safe broker with sound financial conditions and a completely transparent website.

They claim to have partnerships with a lot of reputed banks world-wide which necessitates the maintenance of transparency and accountability standards. But we could not find the information on the banks under which they hold the customer deposits in segregated accounts for SA clients. FXTM’s spread is on the higher side with their Micro account, but very low with their Advantage account which is their ECN type account with Raw spreads & low commission for high volume traders. Read our FXTM review to know about their fees, accounts, support & more.. The maximum amount you can withdraw to bank cards is $5,000 per transaction and there is a $25,000 limit per transaction on withdrawal to bank accounts. It typically takes one business day to transfer money from PayPal to debit/credit cards but transfers to a bank account may take up to 5 days to complete.

We were able to contact the fxtm forex broker review via phone, email, post or online chat (WhatsApp; live chat; Viber; Telegram; or Messenger). Offering 1000+ markets and three account types, they cater to all levels of trader. FXTM offers six FX indices trading options, including GBP Index, USD Index, Euro Index, GYP Index, AUD Index, and NZD Index. Traders can start trading forex with FXTM and enjoy competitive leverages, spreads, and convenient trading hours. Multilingual Customer Support – Being an international firm, FXTM aims to reach all clients worldwide.