Trading on MT5 with FXTM provides you with even more access to financial markets, including foreign exchange, commodities, indices, stocks, and futures. 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. So FXTM Broker is a trusted forex broker with account options and features for all traders. FXTM provides trading accounts for both inexperienced traders and more seasoned investors. Discover which account type matches your trading goals and strategies.
- The MyFXTM back office is where traders make all their deposits and withdrawals.
- While this latter figure is high, I rate the trading conditions offered here as more than worth the deposit size.
- FXTM fully incorporates the web-trading platforms of both MT4 and MT5 for those who desire a more streamlined trading process with no download required.
- FXTM offers negative balance protection for forex spot and CFD trading, but exclusively to clients in the EU and the UK.
Remember that with the Advantage Plus, you won’t have to worry about commissions at all, but you will, of course, have to keep an eye on those spreads. Apart from offering one of the most comprehensive forex trading sites in the industry, it further impresses with one of the best support centres in the world. Traders are able to contact the support desk through several live chat facilities, including Live Chat, Viber, Facebook Messenger, and Telegram. You can even request a Call Back where the support desk will contact you within minutes to assist you with your query or request.
The inclusion of demo accounts and a flexible leverage system makes this a good trading platform for beginners and experienced forex traders alike. Covering a broad range of markets, this offering can be considered more than sufficient compared to other major brokers in the industry. The extensive selection of stocks and shares offered for CFD trading and the dedicated account service provided for this is welcoming to those traders who specialize in that area. Other benefits of MT4 include its powerful security system and multi-device functionality, which enable you to trade with complete confidence and at your convenience.
Can I withdraw from FXTM?
The broker puts great emphasis on education whilst offering a flexible selection of trading accounts and convenient funding methods to suit different types of traders. Furthermore, I found them to have very competitive trading conditions including tight spreads, low commission fees and rapid trade execution speeds. I like that you can get access to plenty of tools to enhance your overall trading experience and excellent customer support. Its clients enjoy various competitive trading conditions, including tight spreads, zero deposit fees, lightning-fast execution, commission-free trading, and more.
Their range of available financial assets compares fairly to other big brokers, such as OANDA, IC Markets, and Fusion Markets. FXTM understands the importance of mobile trading platforms in making things easier for traders. So, it provides traders with the mobile version of all the available trading platforms — MT4, MT5, and FXTM Trader. Other benefits of MT5 include a multi-threaded strategy tester, fund transfer between accounts, and a system of alerts to keep abreast of all the latest market events. Traders can also communicate through the embedded MQL5 community chat to feel more empowered and confident.
FXTM’s own pivot point strategy helps traders identify profitable trades based on market sentiment and market analysis is segmented by topic to help you find what you need quickly. One of the coolest tools is called the FXTM Periodic Table, which helps fxtm broker review you learn forex terminology in a highly visual format. Among the most widely used forex brokers in the era of forex trading, FXTM is one of the most popular ones. We have provided some crucial pros and cons based on our in-depth review of FXTM.
FXTM Broker Review
FXTM truly exceeds expectations when it comes to the wealth of account type offerings. One of the neatest perks is that nearly every account type has a corresponding free “mirror” or demo account. You can use these mirror demo accounts to practice trading strategies before and during your use of a live trading account. FXTM is governed by several financial regulators, including the top-tier FCA.
Trading Conditions
FXTM, also known as Forex Time, was founded in 2011, is a forex broker with offices in Cyprus, England and Belize. Ultimately, we are left to conclude that traders should feel a strong presence of trust, which they can rely on when trading with FXTM. Mobile trading is available with a similarly positive user-experience in terms of fundamentals and delivery. Again in this area, charting and the ability to analyze and customize your market views is something in which MetaTrader has well-advanced beyond many of its competitors in the industry. Opening an FXTM live account follows much the same convenient pattern. The added difference in this process is that you should complete your personal information profile in more depth and also verify your account through the submission of a proof of ID and proof of residence document.
FXTM Broker Review 2023
Processing times vary based on method and rank from instant to ten business days. A demo account is available at FXTM, and I did not find a time restriction. Forex demo account is available for MT4 and MT5 and allows traders to select the demo account balance and leverage.
The Market Analysis team are regularly quoted in major international publications, including BBC, CNN, CNBC, Bloomberg, The Wall Street Journal, Financial Times, Reuters and Forbes. I found these to be really insightful and they helped me become aware of some market event that I may have otherwise overlooked. FXTM also provides live chat on its website or via WhatsApp, Telegram, or Messenger. Since the product and services portfolio at FXTM remains well-explained, I doubt most traders will require assistance.
Once your account has been approved, you can then make a deposit using one of the many methods available. Based on our research we found out that FXTM offers a user-friendly platform with all the tools and resources you need to trade successfully. These accounts feature much tighter spreads than standard accounts, but a small commission charge is applied to your trades. For this reason, ECN accounts are more suited to experienced traders who may be trading on a larger account. FXTM allows traders to expand their forex trading knowledge thanks to a plethora of educational content. The market analysis and education sections of their website are some of the most in-depth that we’ve come across.
All deposits through the variety of methods offered by the broker are free of any fees. For withdrawals, several of the methods are also without charge; however, fees do apply to some withdrawal methods. Most notable, there is a 30 EUR fee placed on wire transfer withdrawals and a 3 USD fee on withdrawals via MasterCard or Visa. Speaking of protection, FXTM offers segregated accounts to its customers, safeguarding clients’ funds by segregating them in first-class banks. Customers can easily find all relevant information about the company. A transparent business inspires trust, prompting customers to trade on FXTM internet-based trading platforms.
Trading fees and other costs
It is a well-known brand, yet it is not traded on any market, does not publish financial information, and has no banking licence. FXTM offers negative balance protection for forex spot and CFD trading, but exclusively to clients in the EU and the UK. Customize your platform and your day-to-day trading experience using MT4 indicators. Every trader has their own preferred trading tactics and trading objectives. MT4 gives you access to hundreds of indicators, allowing you to design your own trading technique and determine what works best for you.