FXTM is regulated by a top-tier regulator, namely the Financial Conduct Authority of the UK. The regulator has one of the strictest license requirements out there. FXTM minimum deposit requirement is $/€/£ 100 for Account Standard and only $10 for a Cent Account. Also, all deposit fees are covered by the company which is great for your smart money management.
The program comes at no cost, it’s available to all our registered clients and is the perfect step towards building a vast network of partners. This guide delves into the different types of market indices, why it can be beneficial to trade them as CFDs, and covers some popular index trading st… Uncover more information about stock markets by learning how to see bullish candlestick patterns, and put them to work within your technical analysis. Trading is the buying and selling securities, such as stocks, bonds, currencies, and commodities, to make a profit. And success depends on a trader’s ability to be profitable over time.
With only MT4 on offer, in addition to its proprietary FXTM Trader app, we found that FXTM’s platform support is average compared to other Forex brokers. FXTM also has its own trading app that integrates well with MT4, but we were disappointed that it does not support MT5 or investment accounts. Overall, we found that FXTM’s range and depth of trading instruments is extremely limited compared to many other brokers. It is regulated by three national authorities, including the UK’s FCA, ensuring traders are well-protected.
Introducer and Affiliate Forex Partner Programs
FXTM offer multiple account types and flexible leverage to suit all different types of trader. I found the spreads to be very low, starting from just 0.1 pips with deep interbank liquidity to ensure fast trade execution speeds and No Dealing Desk (NDD) technology to avoid a conflict of interest. I would always prefer to use a broker without a dealing desk as I like to get my trades executed at the best possible prices and don’t want to be trading against the broker that I am using. If spreads and execution are also important to you, XM Group have raw spreads from zero pips and plenty of liquidity for reliable trade execution speeds.
Minimum deposits and FXTM spread are quite low, and copy trading and real stock trading features are also offered on the desktop trading platform, which strategy managers can also manage. The broker provides traders you with convenient access to trade the markets, including CFDs on forex, stocks, cryptos and commodities. fxtm forex broker review I found them to have a good selection of trading instruments to choose from. FXTM has a global network of regulations and offices across Asia, South Africa, the Middle East, Europe, and Latin America, with over 4 million successful traders across 150 countries, all these ensuring traders are protected.
However, the FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, and Hong Kong. Spreads, swaps, and inactivity fees at FXTM are roughly average for the forex and CFD industry. More competitive trading costs are available via the Advantage account type, which gives a discount based on trading volume but requires a higher account balance. In addition, when trading with a broker authorized by the FCA, client funds are protected by the Financial Services Compensation Scheme (FSCS).
What is Forex Trading?
Furthermore, during FXTM review we found out that this broker offers flexible leverage on forex trading, depending on country of residence as well as knowledge and experience. The spreads depend on which trading platform is used and range from 1.3 to 0.1 pips on ECN MT4. Before a trader decides to trade forex or any financial instrument, they must carefully consider their experience level, investment objectives, market sentiment, and risk appetite. Note that this review of FXTM does not provide investment advice, so traders must be careful while using Stock CFDs. Traders at FXTM can explore and trade forex and forex indices with major, minor and exotic currency pairs.
You will find the broker has a good selection of account funding and withdrawal options for simple and quick processing. They offer some online payment processers such as Skrill and Neteller which may be more convenient for some clients whilst they are constantly adding new options in order to improve the process even more. I am fan of the digital wallet payments as I can get quicker access to my fund which is important to me as I may need to react quickly to some unexpected market news.
The mobile trading app is perfect if you need to trade on the go from multiple locations. The company’s focus from the beginning was to provide high-quality services and a trading environment to its customers. Our FXTM review found out that this company distinguished itself from the other providers by focusing on various local markets and adjusting their services accordingly to suit each one.
FXTM Trader Mobile App
FXTM brokers who are committed to keeping their clients up-to-date on the current forex and CFD products, state-of-the-art platforms, accounts, FXTM Invest, and tools. The brokers have developed a comprehensive library, also known as the Beginner’s Guide, to familiarize new traders with forex terminologies, currency pairs, and many more. The FXTM web trading platform spread starts at 0 pips on forex currency pairs such as GBPUSD and EURUSD. Traders can maximize their potential with the improved pricing structure as they participate in market execution and instant execution of trading and investments; it also doesn’t have high non-trading fees.
- Whilst the majority of you would probably get by with the platform tools, it is always nice to have some more at your disposal and helps the broker standout form the competition.
- With so many different definitions for traders to learn, FXTM have compiled a vast glossary of terms and definitions that is freely available on their website.
- FXTM or ForexTime, a dynamic trading platform, is one of the global leaders in online forex trading, which has a presence in over 150 countries, with more than 4 million clients, and more than 45 Awards under its belt.
- The fees charged by FXTM are high compared to other Forex brokers.
- FXTM is regulated in multiple jurisdictions, and all client funds are segregated from the firm’s assets and held in top-tier banks.
We found the live chat agents were able to answer all our questions quickly and to our satisfaction. They also provided links and extra reading material where appropriate. Overall, we enjoyed FXTM’s market analysis – it is clear that Forex experts write it. It is full of detail and interesting leads for new trading opportunities. We tested the account opening process, which took approximately 10 minutes to complete, and once our documentation had been submitted, our accounts were ready for trading within about 24 hours.
For instance, the spreads on the Standard account start from 1.5 pips, which is higher than those offered by most Forex brokers. What’s more, the broker charges a $3 withdrawal fee when using the credit/debit card option. Furthermore, traders are charged 5 EUR/USD/GBP per month after 6 months of inactivity. The total number of instruments you can trade is more than 2,200. However, it must be noted that the number of available assets varies for different account types. In addition, you can trade more stocks and stock CFDs using the MetaTrader 5 platform.
In case you are trading currencies, the performance of the UK 100 index can largely affect the price of the British pound. HK stocks are subject to various additional fees such as HK stock commission of 0.05% which is charged by the broker and national trade fees charged by financial institutions of Hong Kong. Furthermore, trading real stocks are available from the MetaTrader 5 platform and US stocks are taxed in accordance with the US government https://forexhero.info/ rules and regulations, which is 30% of the dividend amount. In addition, there’s a live pricing fee of 120 USD per month for HK Stocks. All necessary and useful tools are also included in the package, from risk management to analysis, as well as a uniquely developed trading tool like – Pivot points strategy and trading signals. Along with converters, calculators that designed to make trading to the trader of any level more professional.
Moreover, FXTM provides negative balance protection, which acts as insurance. Forex trading is a highly leveraged business that creates possible scenarios for losing more money than is on your trading balance. When you are trading with a broker who does not offer negative balance protection, in case your funds go negative due to high leverage and volatility, you will owe the outstanding money to your broker. Based on our findings, FXTM trading technology and toolbar use the industry’s leading software third-party providers, which doesn’t require a presentation, as these platforms are MT4 and MT5. However, the progressive technology of the MetaTrader was combined with FXTM’s unparalleled trading services that allow smooth operation and enhance your trading capabilities all in all making trading a powerful process. In terms of the funding methods, FXTM made it quite a simple and straightforward process with a truly wide range of funding options that will assist you to find a suitable money transfer provider.
We found that when you trade with FXTM you are able to operate with fixed or floating leverage. The leverage is indeed a very useful tool, especially for traders of smaller size, as it may increase your potential gains timely due to its possibility to multiply initial account balances a particular number of times. Based on our findings, FXTM is a legit broker, as each of the entities and brands that it serves is authorized and regulated by various global jurisdictions. The numbers are actually confirmed by the large community of traders with about 750,000+ active accounts that growing, numerous attractive opportunities, and gained vast awards for excellence in trading. FXTM offers a swap-free Islamic account that adheres to the principles of Sharia law.
FXTM is committed to educating traders, with a thorough and extensive educational centre that includes free eBooks and videos. They cover a wide range of topics for all levels of traders including trading strategies, trading tools, technical analysis and more. I found them to have an ever-growing collection of tutorials and articles for both beginner and experienced traders alike with online webinars and local seminars offered to clients.
Retail traders, institutional traders, governments, international companies, and banks are exchanging more major currencies than exotic ones in the Forex market. As a result, liquidity is increased and spreads (spread is a difference between the bid and the ask price) are decreased. It’s best for novice traders to avoid trading exotic pairs due to low liquidity. FXTM offers 17 exotic pairs including CHF/NOK, EUR/HKD, GBP/PLN, EUR/TRY, USD/CZK, etc.
- However, I wouldn’t take blindly without doing my own additional market analysis for confirmation.
- FXTM offers six FX indices trading options, including GBP Index, USD Index, Euro Index, GYP Index, AUD Index, and NZD Index.
- This requires already having or setting up an account with either one.
- MetaTrader is also popular due to its copy trading and automated trading features.
- There are 3 standard account types and 3 Electronic Communication Network (ECN) account types.
- As an Introducer, all you have to do is refer clients to ForexTime (FXTM), and you will be rewarded for it.
FXTM have created a collection of educational articles and tutorials to help expand your trading knowledge and confidence. Written by their in-house experts, they go into great detail and cover a wide range of topics suitable for both beginner and advanced traders. FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand. Regulations are in place to ensure that the broker operates with the upmost fairness and integrity whilst they must comply to strict regulatory rules.