FXTM Forex Broker Review and Rating 2024 Detailed FXTM information with traders reviews for 10 May 2024

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. ECN Zero AccountAn FXTM ECN Zero Account has all the features of the ECN account above but without the commission charges. To compensate for no commissions, you’ll notice that your spreads are slightly wider, but still under the level of Standard Accounts.

  1. Contact our friendly Customer Support Team who will be more than happy to help.
  2. You can, however, trade all the major markets offered by FXTM directly from your charts in the MT5 platform and access several exclusive features that we go over below.
  3. If you are located in a country that they do not accept users from, please feel free to peruse our broker reviews for an alternative option.

Find out about one of the best trading apps on the market in our ForexTime FXTM review

There are numerous ways in which you can get in touch with a member of the FXTM customer support team. With almost 500,000 worldwide traders using FXTM, the need to have a wide array of banking options for them. They do not disanointing this regard, with over 30 different types of payment methods available. FXTM was launched back in 2011 in Cyprus and they had the goal of providing top quality education, great trading conditions and modern trading tools. 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.

Committed to Forex Education

This acclaim reflects our unwavering commitment to delivering superior customer service, competitive trading environments, and most importantly, an exceptional trading experience for our clients. Each award we receive not only honors our past achievements but also fuels our ongoing commitment to our clients and partners. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. It would be better if they could add support for some more currencies, especially considering they have a global clientele. Keep in mind that there is a small inactivity fee of $5 if your account has no trading activity for 6 months.

Technical indicators

Overall, the FXTM pro account has lower spreads, more liquidity and faster execution speeds. Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers. The professional account does require a minimum account balance of $25,000 is maintained to qualify.

FXTM: Lower Minimum Deposit

However, it’s important to remember that spreads are just one aspect of the cost of trading. Other factors, such as commission fees and account types, can also impact the overall cost. The Standard accounts feature only a bid-ask spread and no trading commissions and are an appropriate choice for novice Forex traders. The ECN accounts feature much lower bid-ask spreads and include a small trading commission.

FXTM is an Islamic friendly broker with swap free accounts also offered. With low minimum deposits, tight spreads, plus flexible commission and contract sizes, XM offers the best range of account types with both commission-free and ECN-style pricing available. Although XM’s Zero account is only available to traders based in Europe or the UK, traders outside of this area can still access ECN-like spreads via the broker’s Ultra-Low account. Designed to facilitate forex trading for retail investor accounts, MT4 offers a range of trading tools to help users conduct analysis and develop strategies. Although the gold standard of forex trading platforms, market access is limited when compared to MT5, as share trading is not permitted. As spreads are much narrower than standard account spreads, traders pay round-turn commission fees of $7 when trading with XM and from $4 when trading with FXTM.

The minimum deposit required to open an Active Trader account is $25,000, while Forex spreads start from 0.2 pips on major pairs such as EUR/USD. Newcomers to foreign exchange trading will appreciate ForexTime’s vast library of educational resources. Here, you can explore ebooks, forex trading webinars, and glossaries of common forex trading terms. ForexTime also releases weekly market analysis videos filled with expert advice about new trading strategies. Opting to trade as a Professional Client involves certain waivers and adjustments in the services and protections you receive. It’s a status designed for experienced traders who are well-versed in navigating the complexities of financial markets.

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. FXTM offers clients the opportunity to trade over 250 financial instruments, all from MT4/MT5. Trading on an ECN account ensures that you get the absolute best price in the market at any given time. FXTM use tiered commissions which mean commission costs will are lower if you hold more equity in your FXTM trading account and the more volume you trade. Cent AccountThe Cent Account is designed to give new traders a taste of the psychology required to succeed.

MetaTrader 4 is a popular platform known for its user-friendly interface and advanced charting tools. If you’re keen on exploring more about the best MT4 brokers, this detailed review of top MT4 brokers might be of interest. FXTM offers educational materials suitable for all levels of experience, including e-books, webinars, tutorials and a glossary.

I love to experiment with the huge amount of free and paid add-ons available for it. As there are so many different types of accounts, they each have their own https://forexhero.info/ prices and fees structures. For the three standard accounts which have instant execution, the spreads are pretty good when compared to industry standards.

The web version is great as it runs directly in your web browser and is always up to date. The mobile trading app is perfect if you need to trade on the go from multiple locations. The broker aims to empower traders to increase their trading knowledge so that they can get the best value from their investment. These accounts feature much tighter spreads than standard accounts, but a small commission charge is applied to your trades.

From the get-go, it’s evident that both brokers have invested significantly in ensuring their platforms are user-friendly, but there are nuances that set them apart. If you trade infrequently, another trading cost to consider is inactivity fees. If you do not make a trade for a specific length of time, XM and FXTM will charge your trading fxtm forex broker review account a $5 inactivity fee. At the same time, since FXTM is a member of the Cyprus Investor Compensation Fund, its clients will be compensated in the event of FXTM’s insolvency. While both brokers offer a commendable trading experience, FXCM edges out slightly due to its user-friendly interface and streamlined mobile app.

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