FXTM is one of the dominating forex brokers in the trading industry, with more than 2 million clients in 150 countries. Apparently, the forex broker is operating in Europe, Middle East, Africa, Latin America, and Asia with a steady pace and reliability.
The goal of the FXTM review is to identify whether it can match your anticipation to make you the next top trader or not. Let’s find out how the forex broker can deliver you the potential to generate financial returns on different consequences.
What is FXTM
FXTM, aka ForexTime, is operating as a forex broker since 2011. The brokerage platform has a mindset to bring social trading by introducing innovative products in the forex industry.
CySEC (Cyprus Securities and Exchange Commission) regulating the company under a 310361 license number. The FCA or Financial Conduit Authority is controlling its operation in the UK under registration number 600475.
It is separately regulating the South African activities under the rules of the Financial Service Board. The registration number is 46614. The last jurisdiction is the IFSC (International Financial Service Commission), which is located in Belize; license number is SC/60/345/TS and IFSC/60/345/APM Belize.
Detailed Review of FXTM
Here, I am going to reveal some of the features that you should consider as an opportunistic trader.
At A Glance
We just reached our second last contender of today’s review. For any pro or beginner forex trader, FXTM provides bunches of values that cannot be denied.
As various jurisdictions are regulating the core brand, you can be assured that your money is on the safe runway.
Trader Account Type
FXTM came up to the limelight with its versatile account offerings such as regular Standard, Cent, and Shares accounts under a standard category. Clients can start trading with the regular ECN, Zero, and FXTM Pro considers also. The opening balance for different purpose account varies.
- Minimum deposit required $100 for both Standard and Shares accounts
- Minimum deposit required $10 for Cent account
- Minimum deposit required $500 for ECN account
- Minimum deposit required $200 for Zero account
- Minimum deposit require $25,000 for FXTM Pro account
Right now, FXTM Standard account holders can enjoy the leverage of 1:1000 to 1:25. For Cent accounts, it can be extended up to 1:500 to 1:25. The Shares accounts come with fixed leverage of 1:10.
Both ECN and Zero account holders can get leverage floating from 1:1000 to 1:25. It’s from 1:200 to 1:25 for FXTM Pro accounts.
I found FXTM is a Standard account spread that starts from 1.3. The Cent and Share accounts minimum spread jumps from 1.5 and 0.1, chronologically.
If you are going to try the FXTM Pro account, then you are going to be a winner for sure because it comes with 0 pips. Besides, the ECN and ECN Zero account also have low spreads, which are 0.1 and 1.5 pips.
The good thing is you will not, any commission or hidden charges on any accounts, which makes traders trade more aggressively with the platform. Only ECN account (both MT4 and MT5) users have to share a low commission that starts from 4 USD. In my opinion, the amount is also adjustable.
The order volume differs from account to account. Like Standard accounts, holders can get a minimum of 100 orders per trade. The same order volume is applicable for Shares accounts. On the other hand, Cent account holders get the eligibility to order up to 300.
If you have already set your mind to go for any ECN type’s accounts, then most probably, at least for the order volume, it is the right decision. ON FXTM, you can order up to unlimited to utilize opportunities.
Available Trading Instruments
You can find a large variety of trading instruments on FXTM. Standard MT 4 users can trade with up to 59 majors, minors, and exotics. For spot metals, it limited to 5. Besides, you can trade with 14 spot CFDs. Cryptocurrencies are limited to 4 types.
The MT 5 user’s majors, minors, and exotics are limited to 33 types. Alongside this, a particular trader can trade with 2 different spot metals.
You cannot trade exotics on the Cent account. 25 majors and minors can be exchanged under the accounts. In addition, there is the flexibility to trade with 2 spot metal instruments. In different circumstances, a Shares account holder can transact over 180 CFDs.
MT 4 users can trade up to 43 majors, minors, and exotics if it’s an FXTM Pro account. For spot metals, the limit is up to 2.
Diversely, you can trade up to 33 majors, minors, and exotics and also 2 spot metals as a MT 5 user. Nevertheless, MT 5 users also can do stock trading with up to 10.
A Zero account holder can trade 48 majors, minors, and exotics. Added to that, spot metals and spot CFDs limit are 3 and 14 chronologically for MT 4 types of users.
The trade is limited to 33 when trading majors, minors, and exotics as a MT 5 client. Subsequently, possibilities underlie to trade up to 2 spot metals.
Then, with an ECN account, you can trade majors, minors, exotics up to 48, spot metals up to 3 spot CFDs up to 14 under MT 4 features. If you are facilitated with MT 5 features, then the limits are 33 for majors, minors, exotics, and 2 for spot metals.
As an FXTM Pro account user, the limits are 43 for majors, minors, and exotics, 2 for spot metals under MT 4 features. Separately, MT 5 users are getting a limit of 33 majors, minors, exotics, 2 spot metals, and 10 stock trading.
Just like other professional trading platforms, FXTM also comes up with top-notch features for different platforms. You can enjoy trading with the MT 4 and 5 trading platforms directly from any type of device. Let’s take a look at the features I like the most.
MetaTrader 5 Platform
- Get trading signals
- Complete execution modes available
- Wide range of order types
- Level 2 data
MetaTrader 4 Platform
- Adaptive and modern features
- Access to different types of trading instrument
- Diverse currency
- Multilanguage support
- AI-based trading
Why You Should Trade ON FXTM
FXTM is trying to convince its target market with adaptive features and lucrative offers. The platform has global operations with different bonus programs to facilitate its users. In my perception, the reasons that enhance its existence in the industry are –
Reasons You Should Trade on FXTM
- An inclusive range of trading instruments
- Flexible conditions on trading
- Globally recognized and licensed forex broker
- Fund protection
- A large number of forex tutorials
- Contest and affiliate programs
FXTM is the best forex broker that came into the limelight with maximum facilities. One of their innovative solutions for the forex trader is the FXTM Invest. It has all the support that you can possibly imagine and expect to trade smoothly and confidently.
The above features are undoubtedly more attractive comparing to the other forex broker. Now, it’s based on you whether you want to make the jump right from now or just rumble around and waste your time on scammers. Whatever is your decision, great wishes to become a great trader.
|Regulated By||CySEC, IFSC, FCA|
FXTM Trading Features
Customer Support Languages
|Supported Trading||MT4, MT5|