I haven’t a large account but trade regularly and they still think I’m important. Serious difficulty in withdrawing from my trading account after paying for the verification fee, still, my bank name could not be seen. If you’re a new trader who’s looking to learn how to trade, FXTM is worth a look. Why pay for expensive supplementary trading courses from a third party you don’t even know if you can trust, when FXTM’s articles, courses, and webinars are all accessible for free.

All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. However, response times may vary depending on the time of day, and some users in certain regions have noted occasional delays in reaching support. FXTM leverage is determined by various measures and firstly set according to the regulatory requirement in one region or another. The broker serves a global audience from over 150 countries, with a global network of offices, spanning the UK, Africa, and Asia. FXTM company launched in 2011 with its headquarters in Mauritius and Kenya now.

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. Most online payment processors will credit accounts instantly after FXTM has completed the withdrawal. The costs depend on the account type, asset, and trading volume, where the commission-based option features the lowest trading costs starting from $4.00 per 1 standard lot in the EUR/USD down to $0.80. I highly recommend the commission-based option as trading costs remain among the best industry-wide, while the commission-based account charges relatively expensive fees. However, Standard and Cent accounts are not designed for scalping since instant execution account types may not be best to carry out this kind of strategy. On the other hand, the ECN and ECN Zero Accounts with the market execution modes are more apt for scalping.

Broker Types

Also, spread-based accounts and Stock trading are either on average or slightly higher quotes too. FXTM primarily serves as a Forex trading provider, however, it also offers an investment program through its copy trading platform. This allows investors to benefit from professional trading strategies without needing extensive market knowledge, making it appealing for those looking to enter the markets with expert guidance. Meanwhile, the MetaTrader apps are more feature-rich, providing advanced charting tools, customizable technical indicators, and automated trading capabilities through Expert Advisors. In the Advantage Account and ECN Account, FXTM applies a commission fee per trade, which varies based on trading volume and instrument.

How to open an account at FXTM

Apart from offering real stocks, the broker offers over 100 stock CFDs, and you can even trade fractional shares — for example, 0.3 of one Apple share — as CFDs. Trading CFDs allows you to use leverage to increase your profit potentials. FXTM offers up to six different FX indices that are specifically designed around the largest currencies in the world.

They will be asked to provide their gender, date of birth, field of work, citizenship, tax ID, address, and source of funds. Watchlists, tracking of open, pending, and closed positions, and trading from the chart are among the key features. FOREX.com, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and spreads, fast, quality execution on every fxtm broker reviews trade. 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.

• He is recognized for his insightful analyses of global markets and data-driven trade ideas.
• The Pivot Point Indicator is an exceptionally versatile tool that’s a great companion to the FXTM Pivot Points Strategy.
• However, payments to and from overseas banking institutions may attract intermediary transfer fees from either party independent of FXTM.

I hope they resolve whatever issues they have in order to regain the trust of their customers. From our side, we are ready to consider any proposals in order to make your work the most comfortable with our company. We’d be more than happy if you’d share your experience working with us with your friends. After completing an FXTM test drive on our mobile devices, we are happy to report that most of the website is readily accessible on mobile devices. Trading with FXTM on mobile should never be a problem either, as you can always choose between the MT4, MT5, and FXTM Trader applications. Customer support responded quickly when we contacted them, and we found the support team to be knowledgeable and ready to answer our questions.

FXTM Desktop MetaTrader 4 Platform

FXTM has achieved an average rating of 2.15 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them.

Muslim traders have the option to choose a swap-free account in order to comply with Islamic principles. A swap-free account removes any interest-related charges, in accordance with Sharia law, which prohibits usury. Some of the offered indexes include Dax 30, Dow 30, S&P 500, and so on. FXTM does not charge any withdrawal fees on all payment options available. However, payments that involve overseas banking institutions may attract intermediary transfer fees from either party, which is independent of FXTM. There’s a rollover interest (swap) charged or received for holding positions overnight.

What is the maximum leverage available at FXTM?

You can find trade ideas from FXTM in the Monthly Market Outlook as well as via the previously mentioned trading signals. You should find it incredibly easy to open an account at FXTM as the process is fully digital which makes it straightforward and quick. Yes, FXTM offers MT4 and upgrades the core version with six plugins. There live chat feature, plus you can contact the ream vias popular channels such as WhatsApp, Telegram, Viber and Facebook Messenger. Webinars – The team of analysts at FXTM run regular webinars in a variety of languages, covering current market events and views. There are only four major cryptocurrencies available to trade with FXTM, all against the USD.

I like the trading environment at Forextime, as the trading costs in the commission-based trading account remain among the best industry-wide. It has also established itself as a market leader for traders from emerging and frontier markets. I also like the upgraded MT4/MT5 trading platforms and overall transparency at FXTM, which I confidently rank among the very best Forex brokers.

Trading glossary

• Currency conversion fees also apply if funds are withdrawn in a different currency, which could affect overall costs.
• The broker’s daily market analysis is a significant advantage, offering updated insights on market trends, news, and events – a feature often not provided with such depth by other brokers I’ve traded with.
• Whether you trade spot metals, energy, or soft commodities, FXTM has a CFD market for you.
• FXTM is a forex and CFD broker that provides online trading services globally.

One of the most exciting aspects of FXTM’s range of CFDs to trade is the fact that traders no longer have to change platforms to trade stocks CFDs. Simply trade all asset classes under a single account on the one trading platform. The FXTM Standard Account is a no-frills option for new traders who want to start trading forex without worrying about extra commissions or fees.

The average rating of the broker is based on 839 customer reviews, with 54% of them giving FXTM a score of 5 stars and 16% believing it deserved 1 star. Trustpilot score of FXTM is updated by our team as of Oct 30th, 2024. Yes, our review of FXTM found that the broker is regulated by several reputable global authorities. The EU arm of the broker is licensed by CySEC, South African traders are protected by the FSCA, and UK clients benefit from FCA regulation.

The customer service team offers support in 18 languages, is available 24/5 and there is also personalised support from an Account Service Manager. Contact is via email and phone, plus live chat, alongside other media channels. It would, however, be good to be able to make contact at the weekend too. All of these services have been tested and found to be responsive within an acceptable window of time. Telephone support was immediate, as was the website based live chat.

Financial markets and trading education is an area in which FXTM provides a robust and diverse experience for their clients. You will be charged $5 per month after six months of inactivity and most withdrawal methods also have a fee. Controlled primarily through the bottom and left-side panels, with a huge range of tools including MetaTrader’s prolific Expert Advisor functions for more advanced traders. FXTM (ForexTime) was founded in 2011 by Andrey Dashin, already a key figure in the forex broker community thanks to his involvement with Alpari.