FXTM Review ForexTime 2023 Is it Safe or Scam? All Pros & Cons

Trading with a regulated brokers will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. We’re thrilled to know that you’re enjoying your trading experience with FXTM. One of our top priorities is to constantly improve our services so our clients have a comfortable and hassle-free experience with us.

You can choose from bank transfer, credit card, and electronic wallets for withdrawal. You can use the same electronic wallets as for depositing, except Alfa-Click, Western Union Quick Pay, and Dotpay. This is not the real FXTM website… I have been trade with them on and off for 5 years. I have an account with Jimmy French and done the same.He lock my account and ask for 1200 to open it and I gave him the money now he wants 5k to realize the money I have in my account.

FXTM’s daily market analysis covers major economic events and includes technical insights to help traders find trading ideas. Articles help explain fundamental forces such as central bank policy and highlight key support and resistance levels. Weekly forecasts help orient traders for coming sessions, and ‘trade of the week’ articles highlight specific instruments in play. Traders can follow the latest news and reports via the FXTM Twitter account, which is quite active.

ForexTime provides technical and trading support as well, exclusive privileges for VIP clients, and makes it easy to open accounts. As mentioned before, more than 90 percent of the feedback from clients regarding ForexTime is positive. This is a very strong indicator that the company has great customer service and client satisfaction.

FXTM Best Countries by Traders

They also hold IFSC registration as well besides the CySEC license for the EU clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. The FXTM standard account offers a wide range of features and benefits to all levels of traders. The minimum deposit requirement is $100 with a 30-lot maximum volume per trade. There is no commission charged on this account although the floating spreads start from 1.3 pips as they are marked up to cover costs.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.

The Economic Calendar allows you to keep up to date with economic news releases, dehttps://forexhero.info/red in real time and with an impact rating. I think that a news calendar is a vital tool to incorporate within your trading strategy. I am always checking the news to see what is happening across the markets as it can help me with my trading decisions. If you want easier access, the MT5 platform has a handy built-in economic calendar. FXTM Trading Signals are available in MyFXTM via a technical analysis tool that provides data and assessments of market movements across a range of trading instruments. If you are new to trading and looking for some inspiration, these signals can give you a foundation to work from.

KVB Kunlun Brokers Fees & Spreads

The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage and Advantage Plus accounts. The Micro account, however, has slightly higher spreads, which is to be expected due to the smaller minimum deposit requirement. Next, you will be asked to choose the type of account you want to open. FXTM offers three main account types – Micro, Advantage, and Advantage Plus, each with its own features and benefits. You will also need to select the base currency of your account and agree to the terms and conditions of the broker.

In case you are short on funds, trading real shares might not be the option for you and you might prefer to switch to trading stock CFDs. The reason is simple, there are no leverage offers for trading real stocks. On the upside, spreads are tighter and there are no swaps charged for keeping positions overnight.

Looking for commission and fees data for FXTM?

After you download the MT4 mobile trading platform, you have to access the FXTM server, e.g. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. Concluding the FXTM review, we admit that FXTM gives quality trading potential for both beginners and experienced traders or investors and FXTM is one of the leaders in Forex Trading. Moreover, there are other numerous advantages with FXTM too, alike great global coverage with a good focus on Africa region with Nigeria and Kenya trading opportunities. 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.

Similarly to the web trading platform,we tested this mobile trading platform. FXTM has a great mobile trading platform, offered by MetaTrader 4. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. In the sections below, you will find the most relevant fees of FXTM for each asset class.

MetaTrader Apps 💻

If you are trying to find out if this platform suits you, then you are at the right place to know all about it. These charting tools can be found in the MetaTrader trading platforms. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.

Forextime offers two commission-free trading accounts, Micro and Advantage Plus, and one commission-based alternative, Advantage. Micro requires a minimum deposit of only $10 or a currency equivalent, while the other two account types require a minimum deposit of $500. I highly recommend the commission-based option as trading costs remain among the best industry-wide, while both commission-based accounts charge relatively expensive fees.

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 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. FXTM do a great job in facilitating the offering of several different account types to traders. Through the FXTM standard account types, trading is widely commission-free, with floating spreads offered.

While there are fees for withdrawals via bank transfer and credit/debit card, they are relatively low. The Micro account offers average spreads for the industry, while the Advantage account offers more competitive spreads but also charges commissions. With a combined experience of more than 30 years, the management pledges transparency and quality services. FXTM does not offer its services to residents from the US, Canada, Japan, Haiti, Mauritius, Noth Korea, Puerto Rico, and a couple of other countries. One of the most favorable aspects of FXTM is that the minimum deposits required by the broker are very low. In fact, these start at $10 for standard accounts depending on the type, rising to $200 for ECN accounts, again depending on the type of account.

FXTM provides 17 stock indices including the S&P 500, UK 100, GER40, AUS200, and more. What’s more, FXTM is a part of the Financial Commission’s Compensation Fund. The Compensation Fund is dedicated to resolving disputes between the financial services industry and the market.

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. The number of payment methods to fund the trading account will allow you to transfer funds quickly by the use of bank transfers, credit cards, and some electronic wallets. FXTM’s own pivot point strategy helps traders identify profitable trades based on market sentiment and market analysis is segmented by topic to help you find what you need quickly.

Also, the FXTM UK brand is licensed by the Financial Conduct Authority known as sharp regulator, which has principals built by European MiFID and ICF allowing cross-broker activity. Whether positive or negative experience, kindly share below, let us learn from you as well. The above regulatory bodies will make sure brokers like FXTM are not doing anything against the law. Overall, FXTM can be summarised as a trustworthy broker that is regulated by one tier-1 regulator , two tier-2 regulators , and one tier-3 regulator. The program is tiered and caps out at $10,000 or equivalent.

BrokerChooser gave FXTM a 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account. With a demo account, reliable customer service, and in-depth educational resources, FXTM is a solid choice for traders new to the markets. Experienced traders can take advantage of the advanced features of MetaTrader and lower trading costs through the Advantage account type. Our review found that FXTM offers three live account types, with trading costs that vary depending on the account type chosen by a trader. Trading costs are higher than average on its commission-free Micro and Advantage Plus accounts, with spreads of 1.5 pips (EUR/USD), but significantly lower on its Advantage Account.

FXTM does offer an Islamic, Swap-Free account option and Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries. FXTM also does not offer a welcome bonus, deposit bonus, or the advantage of a no-deposit bonus when traders register a real account for the first time. Oh, it isn’t all sunbeam and champagne – there are those hefty withdrawal fees, after all. As this FXTM review has already pointed out, customer support and cryptocurrency trading are not available 24/7. The customer support department offers assistance in a wide variety of different languages and access platforms include LiveChat, Messenger, WhatsApp, Viber, Facebook, Callback and Telegram.

3) Our withdrawal system is working perfectly fine and on a daily basis, withdrawals are being processed and sent for our 4 million+ clients. Upon investigation, we can see that we have clearly responded to you via email explaining the situation with your trades and claims. FXTM DOES NOT interfere with our clients’ trading activities and we do not affect or manipulate in any way the current trading activity of the Client as this is against our Company’s policies and regulations. We are strictly monitored & regulated by several international jurisdictions and hence, we are answerable for every transaction.

• There are over 60+ minor, major and exotic currency pairs, 180+ share CFDs and major Cryptocurrencies such as Bitcoin and Ethereum.
• We may receive compensation when you click on links to products we review.
• Overall, FXTM’s education section is an excellent resource for new traders, and much of it is available for free.
• Justin is an active trader with more than 20-years’ industry experience of working for big banks and hedge funds.
• While demo trading is great for practicing, it has some downsides.

The KYC information allows them to establish a user profile for new clients and ensure they follow the duty of care protocols designed to protect client interests. By trading with FXTM, you will be able to take advantage of a variety of deposit methods. These include bank transfers, credit/debit cards, such as Visa, MasterCard, or Maestro, and various eWallets , such as Skrill and Neteller.

This method takes longer to process compared to other deposit methods and may incur charges from the bank. The minimum deposit amount for bank wire transfers varies depending on the currency selected, and it may take up to five business days for funds to appear in the trading account. Lastly, FXTM provides customer support in multiple languages, which is available 24/5 via live chat, email, and phone.

fxtm broker review lets you explore ETF trading using a demo trading platform while you’re finding your feet. Then when you’re ready to dip your toes into the real-money trading waters you’ll have a good idea of what lies ahead – as well as the strategies to help you make good decisions, based on real-time events. Trade stocks at FXTM and you have options available from the New York Stock Exchange as well as Nasdaq.

Firm’s he has worked at include big banks like Citi, and prominent hedge funds including D. The platform provided by FXTM is the most popular forex trading platform in the world, MetaTrader’s MT4. As a third-party agent provides this software, registering for an account and downloading the platform requires new users to agree to licence agreements with MetaTrader. This process is relatively straightforward and involves simply reading and clicking on agreements.