FXTM REVIEW | BACKGROUND
FXTM is an established and truly international online forex broker. The company’s extended offering provides access to more than 100 financial instruments to retail and institutional traders in more than 180 countries across the globe. FXTM’s main focus is to help traders’ make the most of their time by streamlining the forex-trading process from registration to order execution with pioneering technologies and ultra-fast execution times that rival those of major financial institutions.
FXTM REVIEW | REGULATIONS
Compliance with the standards set by CySEC, MiFID and the FCA in UK ensures that FXTM functions under the firm requirements and legislations imposed for companies operating within the EAA. As an extra risk management strategy, to protect the trader, all clients’ funds invested with the company are held with the most trusted banks in Europe and in segregated accounts, different from the company’s own funds, in order to guarantee their safety at all times.
FXTM REVIEW | ACCOUNT TYPES
The broker offers a wide range of account types that can accommodate for the needs for beginners and advanced traders alike. The trading conditions available to each account are of the most advantageous you can find in the forex industry. The Standard account which is the most popular FXTM account type – offers tight floating spreads form 1.3 pips, floating leverage up to 1:1000 and a swap-free option with a minimum deposit of only $100.
FXTM REVIEW | ASSETS TRADED
With FXTM you can trade Forex, Spot Metals, CFDs on Commodity Futures, ETFs and Indices and Share CFDs on Fortune 500 companies such as Apple (#AAPL), Google (#GOOG) and Amazon (#AMZN).
FXTM REVIEW | LEVERAGE
Leverage is a great feature with which you can boost your buying power and open positions much larger than your initial investment. FXTM offers leverage up to 1:1000, giving you the chance to maximize your returns many times over. The broker also offers floating leverage on choice account types that matches your position size and minimizes limitations due to larger positions.
FXTM REVIEW | DEPOSITS AND WITHDRAWALS
Making a deposit or withdrawal from your trading account with FXTM is super-easy and straightforward to boot. The broker covers all charges incurred when making a deposit and the withdrawal system has recently been revamped to facilitate nearly instant transfers. You can use most major Credit Cards (Visa, Mastercard, Maestro), e-Wallets (Neteller, Skrill, Alipay) or Bankwire (Barclays, Rietumu Banka, Promsvyazbank) to make a deposit/withdrawal and FXTM also offers local payment solutions for clients in India, Pakistan, Indonesia and Nigeria.
FXTM REVIEW | DEMO ACCOUNT
Even if you‘ve never traded forex before but are interested to get to know the inner workings of a trading platform and how the market moves, you can do so with a demo/practice account with FXTM. Each account type at FXTM comes with a demo version which you can use to check out the trading conditions for that account and learn how to trade forex in a real market environment without worrying about losing any real money for as long as you like.
FXTM REVIEW | COMMISSIONS AND SPREADS
The standard accounts offered by FXTM have no additional commissions and clients only need to pay the spread which starts from 1.3 pips. ECN accounts operate on a market execution server giving you the best available prices directly from the broker’s liquidity providers with low commissions starting at $4. The spread for ECN accounts starts from 0.1 pips.
FXTM REVIEW | CUSTOMER SUPPORT
The FXTM website is available in 15 languages and the list keeps growing regularly. The Customer Support team enjoys the same diversity and can provide support to clients in more than 24 languages around the clock. It is also worth mentioning that FXTM takes customer support really seriously and therefore the team is staffed by knowledgeable professionals, highly experienced in all the company’s trading platforms, account types and promotions and can provide assistance by phone, email or live chat directly through the broker’s website.
FXTM REVIEW | BONUSES
The bonuses and trading contests made available at FXTM can be extremely beneficial for traders of all levels, giving meaningful prizes that really make opting-in worth it. The latest live trading contest gave away cash prizes up to $100.000.
FXTM REVIEW | VERDICT
It seems that FXTM has the whole package as far as online forex trading is concerned. They go the extra mile to provide convenience to the whole trading experience and make things work seamlessly and efficiently. From the broker’s trading platform (MT4 and MT5) which you can download on your mobile (android and iOS) or desktop (Windows or MAC) through to the wide range of payment methods you can use to fund your account or withdraw your profits, everything in the FXTM ecosystem works in harmony to provide an outstanding service with no hiccups.