FXTM Review 2023 Pros, Cons and Alternatives - HostExpert

December 15, 2021

This platform requires a lot of investment, so beginners can only trade during the week. FXTM Broker’s beginner account helps them get started on the forex trading platform with a low investment. The broker has different types of trading accounts for people with different needs. Forex trading is a popular global trade, with FXTM reviews to help determine if it’s right for you.

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. Both processes are painless and can be electronically completed within a short space of time to ensure your trading fxtm broker review is uninterrupted. FXTM accounts are available to residents of most countries; this includes Nigeria, which is frequently excluded by other brokers. Hence the broker has established strong popularity in this region. Notable areas of exclusion include the USA, Japan, Canada, Haiti, Suriname, The Democratic Republic of Korea, Puerto Rico, and The Occupied Area of Cyprus.

It is worth noting that FXTM permits opening of multiple live accounts. This is important since not all asset classes can be traded through every account type. Stock trading with FXTM gives you access to real-time data and direct liquidity pricing for NYSE and NASDAQ indices. Because of its high-quality MetaTrader 4 platform and helpful staff, many traders choose FXTM as their forex broker. FXTM Traders can access both Meta Trader 4 and Meta Trader 5 platforms.

ForexTime (FXTM) Broker Review

On the other hand, the advanced pro account does not charge a commission yet still manages to maintain a very low spread starting from 0.5 pips. I think these are some of the lowest overall fees that I have seen. Therefore, this broker can be suitable for all types of trading strategies, including scalping. RoboForex also provide zero pip spreads and charge a similar commission fee.

Other than that it’s pretty decent.It’d be nice for master copiers to also be able to choose different account types on the copy account. There’s a 10 naira difference between withdrawal and deposits when converting between NGN and USD. This ForexTime review examines their services, including account types, copy trading app, demo profile, plus the MT4 platform. We also list any current bonus offers and key comparison data, such as minimum deposit and minimum trade amounts. FXTM is an Islamic friendly broker with swap free accounts also offered.

  • Additionally, the broker has introduced FXTM Trader – an investment app designed to modernize the trading experience.
  • In this FXTM broker review, we’ll be taking a look at everything you need to know about this broker, including account types, regulation, trading platforms and more.
  • We have over 20 years of experience when it comes to trading online so we know what to look for.
  • I found these to be really insightful and they helped me become aware of some market event that I may have otherwise overlooked.
  • FXTM is committed to educating traders, with a thorough and extensive educational centre that includes free eBooks and videos.

The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. It would be better if they could add support for some more currencies, especially considering they have a global clientele. Keep in mind that there is a small inactivity fee of $5 if your account has no trading activity for 6 months.

A Brief Overview of FXTM

Depending on the withdrawal method chosen, average transfer time ranges from 24 hours to 4 business days. Depending on the deposit method chosen, transfer time ranges from 1 to 24 hours on average. Depending on the deposit method chosen, transfer time ranges from instant to five business days. Daily, weekly, and monthly pivot points, as well as the related support and resistance levels, may all be seen in a single glance. The Pivot SR Levels indicator is ideal for setting stop losses and may be utilised as a breakout strategy.

FXTM features one of the fastest trade executions in the industry. That speed in trade execution supports the many awards the company has been received over the years. FXTM acts as a principle which means the company is considered the sole execution venue for all client orders. When a client’s orders are executed, it may route its own orders to licensed and regulated Non-EU and EU financial institutions. Orders where the price reaches Sell Stop, Sell Limit, Take Profit, Stop Loss, Buy Stop, and Buy Limit are all instantly executed.

The website places a heavy emphasis on education and customer care – this is a brand that takes its responsibilities to its customers seriously. FXTM has a good range of trading platforms and accounts, so no matter what type of trader you are, there is a package that is suitable for your needs. Also fees are, on average, in the low to medium range vs alternatives. This means they offer trading platforms based around MetaQuotes Software’s well known MetaTrader 4 and 5 platforms.

Brokers By Licenses

Educational articles – There are numerous written educational articles on Forex and CFD trading and technical analysis, from the basics up to intermediate-level concepts. Platform tutorial videos – There are various tutorial videos on how to use the MT4 trading platform. For the ECN account the minimum is a far more competitive 0.1 pips with typical 0.3 pips, but there is also a $2 per lot commission to factor in as well. The offering of tradeable products is not particularly impressive, given the strong position FXTM holds in the industry. FXTM’s Pivot Points Strategy uses three popular technical indicators combined with your own choice of five pivot point calculations to assist with your trading and help determine the market sentiment.

FXTM Regulation Summary

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FXTM’s stocks list is average, with 300+ US and European stocks which are traded via CFDs. This means traders can speculate on the price movements of different stocks but cannot buy and own them through this broker. For my forex experience, I have been working with brokers and trading for 5 years. Hope that you’ll enjoy my articles about all forex-related matters.

FXTM, or Forex Time, is an international brokerage company established by Andrey Dashin, who is the creator of the world-renowned Alpari line of forex companies. In 1998, Dashin placed a lot of focus on developing the U.S and European forex trading markets. However, his last venture managed to capture almost everything else. FXTM is regarded as one of the fastest growing forex brokerage companies in the industry. To successfully support the rapid increase of global clients, the brand decided to open several offices around the world with its headquarters based in Cyprus. So FXTM Broker is a trusted forex broker with account options and features for all traders.

These financial assets are designed to help you diversify your portfolio easily, as you do not need to open multiple positions on individual company shares. With the FXTM stock baskets, you can trade price movements of multiple companies based on industries and global trends in a single trade. Another benefit of trading stock baskets is that they allow you to enjoy cheaper holding costs. Finally, let us compare FXTM Micro Account average spreads with those other major brokerages offered on the three most actively traded Forex pairs.

A dedicated FXTM shares CFD account is offered where you can focus only on stock trading. The overall offering of CFDs is not particularly impressive for a broker of FXTM’s stature. There are only 8 commodities to choose from; Silver quoted in two currencies, Gold in three currencies, Brent and Crude Oil and Natural Gas. The MT5 app uses the MQL5 MetaQuotes Language 5 and has some expanded capabilities compared to the MT4 app. For example, the MT4 app has 6 different time frames for technical analysis, while the MT5 app has 21 different time frames to choose from.

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