Is an FXTM broker a legit broker to trade the Forex market?

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Also, it is not possible to trade exotic currency pairs with this account. The FXTM Pro account is the third type of ECN account offered by the broker. Again, you will be able to take advantage of ECN execution on the markets by trading with the MT4 and MT5 platforms, but there is no such demo account available . Another great choice popular with novice traders and those less risky is the FXTM Cent account.

exotic currency pairs

Dear investors, My Strategy is based on Automated Forex Trading. I can trade very little if market conditions are not suitable. When the market is rational in my own decision, I can trade very aggressively.

The most bad service you want to deal with

In case you are already thinking about opening an account with FXTM, we’ll get you through the entire process. Charges inactivity fee of 5 EUR/USD/GBP per month after 6 months of inactivity. FXTM is regulated and authorized in various jurisdictions and therefore considered safe.

  • The IFSC aims at promoting and developing Belize as a global center for financial services.
  • ForexTime or FXTM, is a Forex broker that was launched in 2011.
  • Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
  • We are kindly asking, please send your MyFXTM account number to our email address We will check this information and promptly reply.
  • Traders only need a margin commencing from 3%, and leverage is higher than with traditional trading.

fxtm broker reviews are generally higher, often twice as high, than commission-based offers, and FXTM is no exception. FXTM provides loyal traders with frequent bonuses, promotions, and the FXTM Loyalty program. Irrespective of the experience level of the traders, there is something for everyone at FXTM. A lucrative deposit bonus of 30% is offered to traders who make a minimum deposit of $100. The maximum bonus that can be claimed from this offer is $150, which is automatically credited to the account. FXTM has developed a customized mobile trading platform known as FXTM Trader that gives access to the financial markets from anywhere, anytime, on the go.

FXTM Forex

With its focus on Africa and Asia, FXTM is a fast-growing company. 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.

In order to achieve your trading goals, you need to choose the right account. We evaluate each broker’s account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account. Spreads, swaps, and inactivity fees at FXTM are roughly average for the forex and CFD industry. More competitive trading costs are available via the Advantage account type, which gives a discount based on trading volume but requires a higher account balance.

FT Global Limited, its parent company, operates under a license granted by the International Financial Services Commission . The IFSC aims at promoting and developing Belize as a global center for financial services. Market News and Analysis – You can avail of technical & fundamental analysis from top providers including economic calendar, weekly & daily reports, SMS alerts, trader calculators, and streaming news feeds. Wide Range of Accounts – You can choose from three types of standard accounts and seven types of ECN accounts. The minimum trade size starts from 0.01 lots for Micro, Advantage and Advantage Plus accounts.

The forex market is the largest financial market in the world, and FXTM provides access to a wide range of major, minor and exotic currency pairs. This means that traders have the flexibility to trade the currency pairs that best suit their trading strategies. 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. In addition to forex, CFDs, commodity, indices and spot metals trading, FXTM offers different account types to fit just about any kind of trader.

Range of Trading Instruments

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. The FXTM trading toolbox and all the useful tools it contains is available free of charge. They range from risk management tools to technical analysis tools and have been developed to help clients make profitable trades.

ForexTime offers an solid trading platform based on MetaTrader 4 and 5 and offers a wide range of trading instruments including Forex, CFDs for Indices & Commodities, Spot Metals and Shares CFDs. This website includes information about cryptocurrencies, contracts for difference and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.

Trading share CFDs gives you access to 20 major shares with spreads as tight as 0.1 pips and leverage varying based on experience when you open a Standard Shares account. Wide range of trading accounts with varying deposit minimums for all experience levels. Verification is an important step as it gives you complete access to using your personal area. What’s more, you will be denied withdrawals of your funds if you don’t complete this step.

FXTM Review Summary 2023

This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Check out the current account balance requirements at FXTM in our What is the minimum account balance at FXTM article. Is FXTM legit features all the key aspects you need to look at to see if a broker is safe and legit.

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ECN accounts have a few limitations on maximum order volumes. 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. In a new window, fill out the form, indicating the name, surname, country of residence, mobile phone, e-mail address and password. It also includes encryption of data transmission as a way to stop unauthorized third-party access and data theft.

I really like how they provide daily in-depth market analysis to help you keep up to date with the latest market news. If you are a beginner and looking for as much education as possible, CM Trading might be worth taking a look at. Our Company has been providing our services for over 10 years. During this period, we have earned a reputation of a trustworthy and honest broker.

You also get real-time interactive charts, all trade orders available, all execution methods available, multiple chart types, and full control of your trading account. MetaTrader5 is considered the ultimate trading platform in terms of functionality and basically everything a trader might wish for. FXTM has strong educational resources and reliable customer support, making it a suitable broker for traders new to the markets. FXTM provides dozens of educational articles to help give new traders a solid foundation.

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Just make sure that the photos are clear, with no light reflections and shadows, and that your details are fully visible. You can use your ID, passport, driving license, or any other document issued by your government. As for the proof of residence, you can use utility bills, bank statements, etc. In order to get started, go ahead and open the broker’s home page. By clicking on the Open Account button at the top right corner, you will be sent to the registration page.

Of course, it also https://traderoom.info/s expert forex and commodity technical analysis. Those who prefer videos over reading will appreciate the daily market analysis videos. These come from ForexTime’s market research team and include things like the latest market opportunities. The most common analysis video is an overview of the market for the week.

Its daily market analysis will also help beginners understand the real-world implications of news events on the Forex market and where trading opportunities lie. There is no need to wait for the KYC documents to be processed before depositing funds in a new FXTM account. Payment options include debit and credit cards, bank transfers, and e-Wallets. Some payment methods can only be used for higher-level accounts, but the basic range of options is in line with standard market practice. Additionally, there’s the FXTM Pro trading account, tailored for high-end trading professionals and institutions. It features ultimate trading conditions like ultra-fast market execution, spreads from 0.1 pips, and deep interbank liquidity.

Educational Resources Offered by FXTM

If you are a more experienced, or high volume trader, then an ECN account type may be the right choice for you. They are currently headquartered in Cyprus but offer services in forex trading and many other assets to traders around the world. They have fast become one of the top forex brokers in the entire sector. If you just want to check prices and manage trades, MT4 will do the job. If you have more complex trading strategies, then you will probably want to steer more towards MT5.

methods

The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises. The quality of educational texts and videos are superb as well. You can use the basic order types.You will not find very sophisticated orders like the ‘one cancels the other’ order. We tested the credit card withdrawal and it took one business day.

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The FXTM mobile trading platform and the desktop trading platform support MetaTrader MT4/MT5 and a new FXTM Trader app. FXTM is an award-winning broker that gives you access to trade a great range of over 250+ financial instruments. They provide you with very competitive trading conditions and powerful yet user-friendly trading platforms. The broker also has a range of educational materials and free demo accounts for beginners.

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