FXTM may offer a reduced leverage ratio based on individual experience, previous trading record, degree of customer loyalty and various other factors. At the time of this review, FXTM maintains a refer-a-friend campaign. Here is the minimum spread for the EUR/USD and the trading costs per 1 standard lot in both. I just had my first withdrawal from FXTM through africansolutions.
Account Types and Terms
Generally, with the dealing desk accounts, there is a fixed spread charge of about 1.3 pips. The standard ECN account has variable spreads and start around 0.1 pips. FXTM offers dynamic and competitive spreads that cater to various trading styles. Traders can choose from different account types, each with distinct spread structures. https://traderoom.info/fxtm-what-a-trader-is-in-for/ FXTM’s trading platforms are accessible via online browsers, desktop programs, and mobile apps after registering for an account. FXTM’s Advantage account is designed for experienced traders, with spreads starting as low as 0.0 pips on EUR/USD and a commission structure that rewards bigger trading volumes with reduced expenses.
FXTM Maximum Leverage by Asset Class
I found them to have a good selection of trading instruments to choose from. FXTM is an Islamic friendly broker with swap free accounts also offered. You can trade forex with major, minor and exotic currency pairs to take advantage of a currency’s increasing or decreasing value. FXTM is committed to educating traders, with a thorough and extensive educational centre that includes free eBooks and videos. They cover a wide range of topics for all levels of traders including trading strategies, trading tools, technical analysis and more.
Advantage Account
- Whether you’re a new trader looking for tutorials and webinars on the basics, or you’re an experienced trader looking for world-class market analysis.
- The MetaTrader Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform.
- Forextime (FXTM) offers a commission-free trading account, Advantage Plus, and a commission-based alternative, Advantage.
- With over 250 tradable instruments and quality trading conditions, the broker has a good selection of trading products and services for all types of trading strategy.
- Asset access may also vary based on the subsidiary you are trading with.
- In total, there are five steps to complete before you can begin trading.
I was required to send a withdrawal fee of 15% of my account value. This is new money as they say you are unable to use profits to pay these. Same security email but this time to some crypto regulatory authority.
Opening an Account
Keep in mind that there is a small inactivity fee of $5 if your account has no trading activity for 6 months. The broker works very hard to offer you helpful, skilled and multi-lingual trading and technical support, always on hand to assist you with your questions. Customer support is provided via online chat, telephone and email. You also get your own account manager who is on hand to assist and offer personalised support.
You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. Besides this, it also has its own mobile app for Android and iOS. For Live Accounts, there are 8 different account types to choose from.
That’s because ForexTime FXT is registered in countries with strict deposit protection schemes and has built up a solid reputation since opening for business in 2011. There live chat feature, plus you can contact the ream vias popular channels such as WhatsApp, Telegram, Viber and Facebook Messenger. Overall, we were very impressed by the FXTM educational offering.
Please note that the BTC withdrawal can be made only to the BTC wallet with which the funds initially were deposited, and only up to the amount deposited in BTC. We kindly ask you to send your FXTM ID to our email address Our agents will check the information and help you with the withdrawal process. FXTM Invest is a copy trading service similar to the setup at eToro. You follow the FXTM traders, known as strategy managers in this case, with the risk management principles and system that align with your expectations. Whether you trade spot metals, energy, or soft commodities, FXTM has a CFD market for you. Whether it’s the main part of your trading strategy or simply used for diversification, take advantage of the volatility in commodities markets with FXTM.
Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money. FXTM offers 1000+ tradable instruments spanning CFDs and real stocks. Among CFDs, traders can access diverse markets, including forex, indices, commodities, shares, and crypto.
This virtual trading app provides the ideal environment in which to learn more about how foreign exchange markets operate. After that, you can finish the account-opening process in your browser or on a mobile device by installing the FXTM Trader app. In total, there are five steps to complete before you can begin trading. You’ll need to add personal and tax information to your profile, upload photos of some ID and, finally, make a deposit. Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs.
Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading. Alongside FXTM’s top 5 strengths we’ve reviewed above, we’re going to finish this FXTM review with some final points about the broker and then frequently asked questions (FAQs). Your level of regulatory protection depends on your country of residence when you open an account.
On the FXTM Trader app, you can keep track of your balance, earnings, and current prices on a super-secure and safe app. Never miss a market moment, and leave home knowing your accounts and MyFXTM can be accessed anywhere you are. FXTM (Forex Time) https://traderoom.info/ launched in 2011 with the goal of providing retail traders with industry leading trading conditions alongside an abundance of educational material and trading tools. The FXTM Pro Account caters to professional traders, as the name suggests.
CFDs allow traders to speculate on price movements like futures and other derivative financial instruments without owning the underlying asset. MetaTrader 4 is one of the most feature-rich and popular trading platforms. It does not have a beginner-friendly interface and requires some time and effort to learn, but that is typical of advanced platforms. In my research, FXTM showed transparency in its regulatory status, listing its regulators in the footer of the website page. The website clearly breaks down trading costs on the Trading Commissions and Fees page.