FXTM Review: Pros & Cons As Per Real Account Trading

I find it well-structured and an excellent starting point for new traders. I also recommend first-time traders seek third-party education covering trading psychology while avoiding paid-for courses. One of the most ignored trading costs is swap rates on leveraged overnight positions.

FXTM Micro Account

–    Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. FXTM’s asset variety is competitive too, although brokers like FP Markets provide a broader selection of instruments. The broker’s customer support operates during business hours, which is similar to brokers like HFM, while others, such as IC Markets and Pepperstone, provide 24/7 support. However, the actual deposit amount may vary based on the region, chosen payment method, and local regulations. Traders should carefully review the specific requirements for their preferred account type and ensure they meet the necessary conditions before funding their account. FXTM processes most withdrawals within 24 hours, but it may take up to five business days for clients to receive their funds, dependent on the payment processor.

Customer Support

Clients can trade directly via a browser, access all the MetaTrader order types and execution modes, including the one-click trading feature. The CFD broker maintains all client deposits in segregated accounts, meets stringent capital adequacy, and is subject to regular financial audits as part of the procedure of the monitoring authority. On one occasion, I encountered a minor technical issue with my account. The phone support team resolved the problem efficiently and even followed up with a courtesy email to ensure everything was working smoothly. This level of attentiveness is reassuring, especially for new traders who might feel overwhelmed at times.

FXTM offers a wide range of deposit and withdrawal methods to cater to the needs of its global clients. Whether you’re using credit cards, e-wallets, local payment methods, or even cryptocurrency, FXTM ensures a smooth, secure, and efficient process. All funds are kept in top-tier banks and fully segregated for added security.

Their insights have helped me stay ahead of trends and make smarter trading decisions. They help me conduct thorough market analyses and make informed decisions. FXTM offers a wide range of assets, making it easy for me to diversify my portfolio. I can react quickly to market changes, which is essential for my trading strategy. Yes, FXTM is highly regulated in multiple jurisdictions, including Mauritius, Kenya, and has licenses from the FCA, CMA, and FSC. This ensures that the broker meets high standards of security and transparency.

• One of the great key points in regard to FXTM is the fact they offer very low minimum deposits.
• A web version of MT4 is also available for those who prefer to trade directly from their browser.
• There is a maximum volume of 100 lots per trade for ECN and ECN Zero Accounts and 250 for FXTM Pro Accounts.
• On the other hand, FXTM’s minimum deposit is higher than some of its competitors, like Deriv and XM, making it less accessible for traders on a tight budget.
• Trading on this account type is available through both MT4 and MT5.
• FXTM accepts deposits and withdrawals in major currencies like USD, EUR, and GBP.
• An excellent and frequently chosen option for new traders and those seeking to lower risk is the FXTM Micro Account.

What platforms can I use to trade with FXTM?

Instead, traders might face a fixed fee based on trade direction. Whether you’re just starting out as a forex trader or have been trading for years, FXTM can fit your needs and provide excellent forex brokerage services regardless of your level of expertise. If you’re a more experienced trader who’s looking to take their trading to the next level, then FXTM’s market analysis is worth checking out.

What kind of customer support does FXTM offer?

The broker provides various trading tools and analytical resources, which can be helpful for both beginners and experienced traders. 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. FXTM offers Multi Account Manager (MAM) on MT4 for easy management and ultimate convenience for traders with multiple accounts. The broker makes the MT4 trading platform available in desktop, web, and mobile versions. FXTM offers swap-free trading on all the available live trading account options.

FXTM’s diverse range of deposit and withdrawal options ensures that traders can easily manage their funds with convenience fxtm broker reviews and speed. By offering multiple methods, including local transfers and popular e-wallets, FXTM caters to a variety of preferences, making it a flexible choice for traders looking to streamline their transactions. FXTM offers a dedicated help center and live chat support to assist with any questions or issues.

Since 2011, FXTM has provided traders with a wide range of trading instruments and educational resources, as well as fund protection, free demo accounts and account managers. FXTM offers a range of account types to suit different trading styles. These include Standard Accounts, which are ideal for new traders, and ECN Accounts, which provide tighter spreads but come with commission fees. Additionally, FXTM provides a Cent Account, ideal for beginners who want to trade with smaller amounts. FXTM provides a selection of six live and demo trading accounts, catering to all categories of investors using diverse trading strategies.

You will also have the benefit of multiple money protection measures that can make sure your funds are safe at all times. ForexTime, better known as FXTM, is a well-known forex broker famous worldwide, but especially among African traders. To its credit, FXTM has over a decade of experience, and entities are regulated by three agencies, including the top-tier UK FCA. FXTM excels in the area of research with analysis from a seasoned in-house team, complimented by trading signals from Acuity within the client portal and a range of custom MT4 add-ons.

ForexTime FXTM: Opening an account

Most online payment processors will credit accounts instantly after FXTM has completed the withdrawal. As a regulated broker, account verification at Forextime is a mandatory final step. Most traders will satisfy this by sending a copy of their ID and one proof of residency document. I like that FXTM does not incorporate unnecessary steps or questionnaires.

• Rated as the broker offering the best forex education opportunities for CFD trading, the learning material available to FXTM account holders is second to none.
• Also, if you are looking for some specialized software like cTrader or Real Futures is your choice then FXTM is not suitable for you.
• FXTM Invest is a type of copy trading service provided by the broker.
• They allow me to learn from successful traders and improve my strategies.
• FXTM complies with four regulators, is a member of the Hong Kong-based Financial Commission, publishes audited performance reports, and has a clean operational record spanning fourteen years.

FXTM Order Execution Model

However, international operations are conducted under an offshore license, which may carry higher risks, as investor accounts can lose money. Trading with an unregulated entity increases the risk of fund loss significantly. For better protection, we recommend opening an account with the UK branch, as it adheres to strict regulatory standards. It is important to note that FXTM complies with the necessary regulatory guidelines in each region where it operates. Verified traders must close all open positions and wait for funds to settle. Once the account shows a cash-only balance, they can withdraw all their money from FXTM.