- FXTM Summary
- Why Choose FXTM?
- User Experience
- Services Offered
- Is It Regulated?
- Pros and Cons
- Trading Platforms
- Market Instruments
- Sign Up Process
- Types of Accounts
- Account Types Comparison
- Leverage & Margin Requirements
- Fees & Payment Methods
- FXTM App
- Promotions and Contests
- Partnership Programmes
- Educational Resources
- Restricted Countries
- Security Measures
- Customer Support
FXTM or ForexTime, a dynamic trading platform, is one of the global leaders in online forex trading, which has a presence in over 150 countries, with more than 4 million clients, and more than 45 Awards under its belt. If you are trying to find out if this platform suits you, then you are at the right place to know all about it.
This FXTM review highlights the forex trading platform’s user experience, features, services, pros and cons, trading platforms, market instruments, live account opening process, floating leverage, hidden fees, payment methods, trading fees, & many more.
Disclaimer: CFDs are complex instruments with a high risk of losing money rapidly due to floating leverage. You must have a working knowledge of forex and CFDs and whether you can afford to risk losing money when trading CFDs.
|Regulated||Cyprus Securities and Exchange Commission|
|Product Offered||FX, Metals, Commodities, Stock CFDs, Indicies|
|Minimum Initial Deposit||For Micro Accounts -> $/€/£ 10, ₦10,000
For Advantage & Advantage Plus Accounts -> $/€/£ 500, ₦80,000
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Trading fees||0.4¢ – $2 Comissions on FX and CFDs|
|Inactivity fee||$5 per month, after 6 months of inactivity|
|Withdrawal fee||No, the payment provider may charge a handling fee|
|Supported currencies||EUR, USD, GBP|
|Customer Support||Live Chat, Email, FAQs, and Social Channels like WhatsApp, Telegram, & Messenger Support|
FXTM Review Summary 2023
According to several online FXTM reviews, it is a popular brand in the forex market that offers a variety of trading platforms, along with trading strategies, trading ideas based on analysis, and opportunities of the financial markets, including the forex and CFD markets, to beginner traders & experienced traders worldwide. FXTM has a global network of regulations and offices across Asia, South Africa, the Middle East, Europe, and Latin America, with over 4 million successful traders across 150 countries, all these ensuring traders are protected.
FXTM offers trading services of exceptional quality, as well as financial instruments to institutional and retail investor accounts, lose money who benefit from segregated retail investor cent accounts at leading bank wire, secure payment methods for deposits and withdrawals, low spreads, and competitive leverage and accessibility to bank statement that saves from retail investor accounts lose. The FXTM brand also offers the ability to trade and invest in more than 250 complex instruments, a wide range of optimized trading account types and Metatrader trading platforms, trade-improving forex bonuses, including a welcome bonus, and exciting forex, various payment options, & CFD contests.
The FXTM brand is also regulated and authorized in various jurisdictions by several financial authorities. It is regulated by several such as Cyprus Securities and Exchange Commission and licensed by the Financial Sector Conduct Authority of South Africa.
Why Choose the FXTM Platform?
FXTM, better known as ForexTime, is a leading global forex trading platform regulated by financial authorities such as the Financial Services Commission, Cyprus Securities and Exchange Commission, and UK Financial Conduct Authority. FXTM reviews highlight that it is licensed by the Financial Sector Conduct Authority of South Africa. Forex traders can trade on the highly trusted and reliable FXTM trading platform that offers super-fast trade execution, ultimate security and risk protection, tight spreads, and hi-tech forex instruments and charting tools.
Apart from offering more than 250 financial instruments, including spot indices and FX currency pairs, trading CFDs in commodities, indices, metals, and stock CFDs, the forex brokers also prioritize educating beginner traders at FXTM by offering tons of educational videos, including e-books, forex trading seminars, investment program, and webinars. The FXTM mobile trading platform and the desktop trading platform support MetaTrader MT4/MT5 and a new FXTM Trader app. It is one of the top forex brokers in South Africa that offers three different types of trading accounts – FXTM accounts offers the Micro account, the FXTM Advantage account, and the FXTM Advantage plus account, each offering special benefits over the other, smooth account opening and also various payment options.
FXTM forex brokers provide the most attractive trading environment for both beginners and experienced traders. That being said, there is great potential for many traders to use large trades without paying additional trading costs. Being an excellent CFD broker, FXTM CFD broker offers both market execution and instant execution based on the FXTM trading accounts. Minimum deposits and FXTM spread are quite low, and copy trading and real stock trading features are also offered on the desktop trading platform, which strategy managers can also manage.
With the FXTM platform, algo-trading, hedging, and scalping are possible. The trading platform also provides access to proprietary and free VPS systems via the regulated broker if the traders meet certain criteria. Professional traders can also access negative balance protection and use segregated retail investor accounts that keep their funds safe on the platform.
FXTM User Experience
FXTM web trading platform offers new traders an excellent user-friendly experience with enriching educational materials, including live webinars, videos, tutorials, live updates, and local forex trading seminars. Beginner traders also get free access to educational tools such as demo accounts that allow them to experiment with the forex trading platform without making any real money investments. FXTM supports using popular MT4/MT5 trading platforms that offer a sophisticated and familiar user interface for professional traders to start trading immediately.
When we compare FXTM with other brokers, it offers various trading account types and trading platforms. The ECN account offers the most viable solution for professional traders who want to earn money rather than lose their money in the financial market without trading the market themselves. High-volume and more experienced traders certainly benefit from the tight spread and access to an electronic communications network account or ECN account opening that allows them to gain access directly to the market. Along with that, easy deposits and withdrawals.
Interesting Features of FXTM
The above-par transparency, excellent trading signals, and trading strategies make FXTM one of the best platforms for trading, with unique features like FXDM Invest, competitive trading fees, safes, protected transactions, and a great reputation that makes it stand out from other brokers. Some of the notable features of the FXTM web trading platform have been discussed below:-
Unbeatable Trading Costs
FXTM Group aims to give the tightest spreads at the best prices. The FXTM web trading platform spread starts at 0 pips on forex currency pairs such as GBPUSD and EURUSD. Traders can maximize their potential with the improved pricing structure as they participate in market execution and instant execution of trading and investments; it also doesn’t have high non-trading fees.
The performance of FXTM trade execution is worth mentioning as the platform offers competitive trading conditions, and the technology used by the broker executes trades faster than any other broker. This enables traders to get the best price alerts available in the market compared to similar brokers lacking in this department.
Rapid Execution Speeds
While trading in a speedy market like Forex and CFD trading, choosing a broker that executes trades efficiently is important. FXTM speed of execution is an extremely noticeable feature that allows every trader to benefit from taking profit and stop loss parameters when compared to other brokers.
According to this FXTM broker review, the brokers have displayed complete transparency regarding regulation, withdrawal fees, commission, swap-free, and other essential aspects, with all valid information available on the FXTM website footer.
Safe & Protected
The FXTM web trading platform website has utilized advanced security measures to protect its retail clients’ financial and personal data and prevent unlawful or unauthorized processing, destruction, disclosure, accidental loss, or damage of client information. In addition, brokers at FXTM offer negative balance protection and segregated accounts where client funds are stored most securely, thus making it a secure broker.
Spreads as Low as Zero
Although the FXTM spread is floating, they are relatively low for FX traders with an ECN account. The spreads start as low as 0 pips, but they may increase during certain periods based on the market conditions. Many similar brokers are offering such spreads and low trading costs.
Knowledge Hub/Build Your Trading Skills
FXTM gives utmost importance to new traders who can reap the maximum benefit from the platform’s trading knowledge hub, which includes various educational materials such as e-books, forex trading seminars, webinars, glossaries, beginner’s guides, trading strategies, educational videos, articles, and even market analysis videos published are helpful. All these are also offered by similar brokers in the market, making it a must.
Awards and Recognitions
FXTM is recognized as one of the best trading platforms that have won more than 50 awards since 2011, per our research while making this FXTM review. It has achieved the following titles:-
Most Innovative Product Award 2013
Best Forex Newcomer 2013
Most Educational Broker 2014
Fastest Growing Ecn Broker Asia 2014
Most Promising Forex Broker 2015
Most Trusted Forex Broker Dubai 2015
Best Fracture Broker 2016
Top Customer Service Provider 2016
Most Innovative Broker 2017
Forex Broker Of The Year 2017
Reputable Investor Education Forex Broker Award 2018
Best Trading Conditions 2019
Best Trading Experience 2019
Best ECN Broker 2020
Best Education Provided 2020
Best Educational Program 2022
Most Trusted Forex Broker 2022
Best Islamic FX Account 2022
Best Mobile App 2022
Services Offered by FXTM
According to FXTM reviews, the FTXM trading platform offers an array of trading services, including:-
- Trading and Technical Support – Traders at FXTM can enjoy unparalleled technical support that helps them improve as traders. The team helps analyze their trading mistakes and improve trade strategies in the future.
- Multilingual Customer Support – Being an international firm, FXTM aims to reach all clients worldwide. The customer support team is proficient in several languages, tearing down every boundary of communication and enabling effective responses according to the needs of the traders.
- Easy Registration – Opening an account with FXTM is fast, straightforward, and simple, and it only requires a few simple steps and some standard documents that must be verified on the same day; along with that, smooth deposits and withdrawals
- Payment Method – FXTM understands the significance of providing secure and convenient deposit and withdrawal methods. Due to this, the brokers have provided the fastest and most uncomplicated payment methods so that the traders can trade without worrying about missing opportunities because of delayed payments.
- A Diverse Range of Trading Platforms – FXTM offers a variety of trading platforms to optimize the trade experience of its users, irrespective of the platform or device being used. Like other brokers, traders at FXTM can use MT4, MT5, and the proprietary Web Trader platform conveniently and easily.
- Copy Trading – Traders can discover more than 5000 traders to copy their trades with the platform’s most innovative FXTM Invest. FXTM Invest is a copy trading program that allows new traders to choose a Strategy Manager and automatically copy their trade strategies to make a profit.
Is FXTM Regulated?
FXTM or ForexTime UK Limited is regulated and authorized in several jurisdictions. It is regulated by the Cyprus Securities and Exchange Commission CySec and holds a license under the Financial Sector Conduct Authority of South Africa. It is also registered with the Financial Conduct Authority of the UK. Exinity UK Ltd is regulated by the Financial Services Commission of the Republic of Mauritius and holds an Investment Dealer License number c113012295. Exinity Ltd is a subsidiary of the Financial Commission, an international organization in the forex market.
FXTM: Pros and Cons
|One of the FXTM pros is that it is well-known, regulated, and licensed by top-tier regulators.||It is no longer a cryptocurrency trading platform.|
|Upgraded trading platforms, including MT4, MT5, and proprietary mobile trading FXTM app.||Relatively fewer security measures.|
|FXTM provides quality educational content and market research for beginners.||Do not have own trading platform.|
|Low minimum deposit, higher leverage, and proprietary copy trading platform with strategy managers’ support.|
|PAMM managed accounts along with no deposit fees.|
FXTM Trading Platforms
Every trader has different requirements for forex trading, and flexibility becomes an important aspect for forex brokers to provide. For this reason, FXTM has developed industry-leading platforms with helpful features such as live currency rates, impressive charting tools, and many more. The trading platforms available at FXTM are:–
FXTM trading platform believes in providing multiple options, which has led the forex and CFD broker to offer the classic and award-winning forex trading platform, MetaTrader 4, available on Mac, PC, tablet, and mobile so that traders can enjoy online trading on the go. The MT4 trading platform on FXTM supports multiple languages, more than 20 languages, and is compatible with both demo accounts and live ECN accounts. It is an industry-standard trading platform that provides access to financial instruments and markets, CFDs, indices, stock trading, and forex. The platform is free to use and allows traders to manage their trades and analyze different markets.
The MT4 platform offers interactive charts that are easy to read, and traders can analyze the markets in real-time. They also access over 30 technical orders indicator that helps them identify market trends and FXTM trading signals. Other notable benefits of the FXTM MT4 trading platform include the robust security system, multi-device functionality, and multi-account manager (MAM) for ultimate convenience and easy management of trades. Note that MetaTrader 4 trading app is also available, which has revolutionized the trading experience as traders can now react to trade movements at lightning speed on any mobile device, including iPhone or Android.
FXTM also offers the most versatile and latest technology and software, MetaTrader 5, which is the ultimate successor of MetaTrader 4. The platform is suitable for both new as well as more experienced traders. The smart user interface of MT5 enhances the entire training experience and provides several additional trading features. The platform can be downloaded on different devices. It is a market leader and future trading platform for trading it is suitable for both demo accounts and live ECN accounts.
Trading on the MetaTrader 5 trading platform via FXTM allows greater access to financial markets such as indices, stock CFDs, commodities, futures, and forex. Its fundamental, functional technical analysis, automatic trading, and copy trading are completely built-in, where strategy managers help you out, equipping traders with some of the best instruments and technical tools available in the market. In addition, MT5 offers several transaction types, an economic calendar, an email system, and 44 graphical objects.
Other benefits also include simple fund transfers between different live account types, a multi-threaded trading strategy tester, and an improved price alert mechanism that keeps the traders updated about all the current events. Like MT4, MT5 also offers an FXTM mobile trading app with additional flexibility and revolutionary trade experiences. It lacks its own trading platform
Market Instruments by FXTM
FXTM trading platform offers access to an array of asset classes, including FX, spot metals, indices, and commodity trading. Traders can trade with tight spreads and fast execution, from currency trading to CFD trading on rapid and real-time price movements. Let’s find out the different financial instruments provided by FXTM:-
Traders at FXTM can explore and trade forex and forex indices with major, minor and exotic currency pairs. Trading currency pairs at FXTM has enabled traders to benefit from the FX by buying and selling currencies using the FXDM forex broker as an intermediary facilitating the transactions. The traders can take advantage of zero spreads on major forex pairs and FXTM’s ultimate transparency and performance statistics, including slippage, order execution, and requote.
img class=”aligncenter size-full wp-image-170735″ title=”Why Trade Forex Currency Pairs with FXTM?” src=”https://www.cryptonewsz.com/wp-content/uploads/2022/10/why-trade-forex-currency-pairs-with-fxtm.png” alt=”Why Trade Forex Currency Pairs with FXTM?” width=”1199″ height=”259″ />
Traders can also trade silver and gold with the FXTM platform, including XAGEUR, XAGUSD, XAUEUR, XAUGBP, and XAUUSD. Compared to the forex market, silver and gold stock prices are not heavily affected by economic and political events; hence, this asset class of precious metals has the additional benefit of being unaffected by inflation. Traders who exchange metals at FXTM can access price charts and use short-term and long-term charts to determine price movements. After placing a trade, traders can choose to go for short-term volatility or a long-term buy/sell position.
FXTM stock trading gives access to direct liquidity pricing and real-time data for NASDAQ and NYSE indices. Note that stock trading activities are available only on the FXTM MetaTrader 5 platform. The spreads for stock trading start at 0 pips. Trading account holders with a minimum balance of £250,000 can become eligible to receive spreads of institutional levels. Lot sizes for stock trading include standard to mini to micro, ranging between 0.01 to 250 lots per trade.
Traders at FXTM can also trade on CFD stocks that provide them with access to the share marketplace of several well-known firms such as Apple and Amazon. One of the greatest advantages of trading CFDs stocks at FXTM is that they are easily accessible, and the positions can be opened in bear and bull times. This adds further flexibility to the traders’ trading strategy. FXTM offers easy access to the most popular European and US company shares as contracts for difference or CFD trading. This adds greater diversity to the traders’ portfolios. Some popular CFD stocks include L’Oreal, Apple, Volkswagen, Unilever, Cisco, and Baidu.
Traders can find additional opportunities while trading on CFD commodities with FXTM. Commodity trading has become more convenient thanks to the FXTM exchange, where traders can access the commodity market more easily than by buying the commodities outright. At FXTM, traders can do trading CFDs on US natural gas, US crude oil, and UK Brent oil. The prices of energy and oil products keep fluctuating based on a number of factors, such as general confidence prevailing in the world economy and demand & supply for the products.
One of the biggest advantages of CFD commodity trading is that traders actually trade on the expectations of price movements, and they do not have to buy an underlying asset as they can take a short or long position and still make profits even when the value of a commodity falls. This provides flexibility to CFD commodity traders and more opportunities to profit from movements.
Traders at FXTM can choose from prominent securities in Europe, Australia, Asia, and the US and trade on indices. Stock Index trading with a legit broker like FXTM offers access to industry-leading indices, the most active securities, and the flexibility to choose to buy and trade from a wide variety of stocks based on their trading strategies.
Traders at FXTM can trade indices including AUS 200 (Australia 200), GDAX (Dax 30), ND 100m (US Tech 100– mini), UK 100, and SP500 (US SPX 500 – mini). Superior trading conditions at FXTM ensure that the traders can access the stock index trading market with suitable leverage appropriate for their trading style. This allows traders to amplify their positions and maximize profits on FXTM.
While stock baskets are typically considered collections of various securities (such as stocks, currencies, etc.), they work slightly differently with FXTM. FXTM’s in-house market analysts transform its stock baskets into indices, enabling you to trade price changes across many firms, based on sectors and overall trends, with a single trade.
FXTM offers six FX indices trading options, including GBP Index, USD Index, Euro Index, GYP Index, AUD Index, and NZD Index. Traders can start trading forex with FXTM and enjoy competitive leverages, spreads, and convenient trading hours.
Range of Trading Instruments
FXTM platform offers several products across MT4, MT5, and its proprietary mobile app or mobile trading platforms. All in all, FXTM offers a wide range of trading instruments, more than 250+, that can be classified into the following asset classes:-
- 6 FX indices, including GBP Index, USD Index, Euro Index, GYP Index, AUD Index, and NZD index.
- Seven major pairs include AUD/USD, EUR/JPY, EUR/USD, and more.
- Seven minor pairs, including AUD/CAD, EUR/NZD, and EUD/NZD.
- Seven exotic pairs include GBP/SGD, USD/SGD, CHF/PLN, and more.
- Five-spot metals, including XAG/EUR, XAG/USD, and more.
- 3 CFD commodities, including UK Brent oil, US crude oil, and US natural gas.
Open an Account with FXTM
The registration and account opening process at FXTM is simple and completely digital, as per our FXTM review. The online registration takes about 25 to 30 minutes to complete, and even a demo account is easy to open. Follow the simple steps mentioned here to open an account with the FXTM platform.
- For opening an account, you must go to the official website of the FXTM platform and navigate to the orange Open Account tab situated on the right-hand corner of the landing page.
- A registration field will appear on the screen for traders to fill in with their e-mail address, country of residence, name, phone number, and date of birth.
- Choose an FXTM Pro account or any other one to open account, and add additional personal details like level of education and current address.
- Answer a few financial questions, experiences, and background questions, then fill out a form about financial knowledge.
- All traders must verify their identity and residential address by submitting/uploading a photocopy of their passport, driver’s license, government ID, and a utility bill or local bank transfer statement before going ahead with the FXTM Pro account.
The account verification process takes about a few minutes, and the brokers create an account as soon as the verification is complete so that traders can start trading at FXTM with the deposition of a minimum deposit.
FXTM Account Types
- FXTM offers different account types for all kinds of traders, including beginners, long-term investors, and FX experts. Each account comes with its own set of benefits designed to offer more to the trading experience of the individuals using the platform.
- Traders who are new to the platform can try the free demo account with virtual money or explore the following FXTM Pro account types mentioned below instead of the demo account:-
- The Micro account is the most accessible FXTM trading demo account type that offers tight spreads, commission-free, swap-free option, and low minimum deposits.
- The minimum deposit requirement for the Micro account is $10, and the spreads start at 1.5 pips. Traders with a Micro trading account can trade FX and metals only.
- The Micro account is a massive point of attraction for various traders, but it is accessible only on the MT4 trading platform. The currency pairs supported on the Micro account include EU cent/US cent/GBP Pence.
- The minimum trading volume requirement is 0.01 lots per trade, and the maximum number of orders that can be placed is limited to 300.
- The Micro account is specially designed for traders who are comfortable on MetaTrader 4 and do not prefer a higher account balance.
- The most popular account type at FXTM is the Advantage FXTM account which offers the lowest spreads starting at 0.0 tips and supports more trading instruments than the Micro account, including FX, metals, commodities, and indices.
- The traders trade on market execution with ECN accounts, and the spreads are generally zero on some of the most popular currency pairs, including EUR/GBP and EUR/USD. This FXTM account type is Advantage because of the ultra-tight spreads and execution for orders allowing traders to enter their trades at current prices within milliseconds.
- However, on the downside, it’s not commission free this account type comes with a commission ranging from $0.40 to $2 per $100,000 notional value.
- The features offered by the Advantage Plus account type are near-identical to the trading conditions offered by the Advantage account, with notable differences being in the commission-free trading and wider spreads.
- Advantage Plus is commission-free, and traders get access to current execution and the same asset classes as in the case of Advantage, including forex, metals, commodities, and indices. Every other feature is similar to the Advantage account type.
- However, one drawback of trading with the Advantage Plus account is that wider spreads may confuse most first-time traders.
FXTM Account Types Comparison
|Lowest Minimum Deposit||$/€/£10, ₦10,000||$/€/£500,₦80,000||$/€/£500, ₦80,000|
|Spreads||From 1.5||From 0.0||From 1.5|
|Commission||0||Average of $0.40 to $2, depending on the trading volume||0|
|Maximum Leverage||Up to 1:1000 (FX)||Up to 1:2000||Up to 1:2000|
|Minimum Trade Size||0.01||0.01||0.01|
|Trading Instruments||FX, metals, indices, commodities||FX, metals, commodities, indices||FX, metals, commodities, indices|
|Currency||US cent/EU cent/GBP pence/NGN||USD/EUR/GBP/NGN||USD/EUR/GBP|
|Limit & Stop Levels||1 spread||No||No|
FXTM Leverage & Margin Requirements
Every trader must maintain the minimum deposit money in their account for situations when they lose money when trading, which is the margin requirement, also known as the good faith deposit funds, which do not involve risks. Understanding and calculating the necessary margin requirement allows traders to manage risk and avoid closing a trade position due to insufficient margin in their trade account.
Note that FXTM leverage is fixed depending on the financial instruments being traded. For FX Indices, the leverage is 1:500, and for Spot Metals, it is 1:2000. The margin requirement differs for every instrument group, so traders are highly recommended to find more information from the official website before investing real money.
According to this FXTM broker review, FXTM is a transparent platform where all the fees, trading costs, and commissions are mentioned on the official website. FXTM is a good broker to trade with, but traders must consider the spreads as they may fluctuate during certain periods depending on the market conditions.
Let us now learn more about the deposit and withdrawal options offered by FXTM, followed by trading and non-trading fees, FXTM commissions, & more.
FXTM Deposit Methods
FXTM strives to offer the most secure and fastest deposit options, which include bank cards, bank transfers, bank statements, and secure bank wire e-wallets. The platform is regulated, has multiple jurisdictions, and is authorized to operate across several jurisdictions across 180 countries. FXTM brokers must include various deposit options to cater to a wider community section. Traders can use the following deposit method at FXTM:-
- Credit cards, including Visa, MasterCard, Maestro
- E-wallets, including Skrill, Neteller, and DotPay
- Bank Transfers via Hellenic Bank account
FXTM Withdrawal Methods
Like most brokers, Traders at FXTM can withdraw funds on the same business day using any of the withdrawal options used to deposit funds at the platform. To withdraw money from FXTM, traders can use the following withdrawal methods:-
- Credit cards, including Visa, MasterCard, and Maestro
- E-wallet including Skrill and Neteller
- Bank Transfer/Bank wires
Most withdrawal methods guarantee processing the withdrawal request on the same day, except the Skrill withdrawal method may take 1-2 business days to complete. But overall, to withdraw money & the bank transfer process is smooth.
FXTM Fees and Commissions
- FXTM, a mobile trading platform, accepts clients from various countries and supports the following currencies – USD, EUR, and GBP. Note that FXTM does not charge any deposit fees or commissions, which makes the social trading platform one of the most desirable options in the market, as per our research and FXTM review. In addition to this, FXTM does not charge any forex fees or non-trading fees & trading costs are reasonable.
- Unlike the deposit fee, FXTM charges a withdrawal fee for certain payment methods/funding methods. For instance, withdrawals made via credit cards may incur a withdrawal fee of 2 EUR/3 USD/2 GBP, and bank wire transfers may charge 25 GBP/20 EUR for making withdrawals. So most withdrawal types are not free.
- Apart from the deposit and withdrawal fees, FXTM charges an inactivity fee if an account is deemed inactive. FXTM applies an inactivity fee of 5 USD/EUR/GBP if a social trading account or demo account remains inactive for a period of six months or more. The platform also reserves the right to charge broker fees of 3% if there is no trading activity at the platform.
- 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. The FXTM Trader app can be downloaded for free on both iOS & Android devices.
- The mobile trade platform allows traders to modify, open and close positions on more than 250 CFD and forex instruments on a demo and a live account. This social trading broker offers a user-friendly dashboard, trading charts, and living currency rates updated 24 hours, 5 business days a week.
- Mobile users can also get unlimited access to MyFXTM, where they can deposit fees, withdraw and monitor their funds in milliseconds. The one-click feature for trade has been made faster than the desktop trading platform version. Furthermore, on both MT4 and MT5 platforms, a biometric login is also provided, and the MetaTrader platforms are accessible from the mobile app.
FXTM Promotions and Contests
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.
Another exciting promotion is available at FXTM, where for every trade placed, the traders can get a winning ticket of 1.5K in their credit. However, only 10 lucky winners will be chosen to win this promotion.
FXTM Partnership Programmes
Like many other forex brokers, FXTM also offers partnership programs that allow new traders to earn commissions and rebates by partnering with FXTM. The FXTM partnership program is divided into two categories where traders can either register as an introducer or become an affiliate with the platform.
Refer a Friend Program
FXTM broker also offers a referral to a friend program where you get $50, and if your friends join, they will also receive the same amount. You can even earn up to $10000 for referring to a big audience with your link, and the cash earned is withdrawable.
Traders at FXTM can also benefit from the enriching affiliate program by promoting the platform to others and getting a chance to earn commissions of up to $1000 per active trader. Some of the notable features of the affiliate program include:-
- Commissions of up to $800 per qualified trader
- 30-day cookie window
- Monthly guaranteed payments without any earning limits
- Cutting-edge software by CellXpert
- Real-time reporting using the advanced dashboard
- Excellent conversion currency conversion fees
Educational Resources Offered by FXTM
FXTM has various research tools and educational materials that are perfect for beginners as well as intermediate traders. Even experienced and professional clients can use educational resources to improve their experiences. The educational resources offered by FXTM consist of are below:-
FXTM brokers who are committed to keeping their clients up-to-date on the current forex and CFD products, state-of-the-art platforms, accounts, FXTM Invest, and tools. The brokers have developed a comprehensive library, also known as the Beginner’s Guide, to familiarize new traders with forex terminologies, currency pairs, and many more.
FXTM brokers have produced a list of educational videos developed by John Jergeson, who is a market expert talking about fundamentals and basics as well as advanced tactics of risk control and technical analysis. Trading videos also cover other essential subjects consisting of personal psychology, market psychology, the use of trade indicators, and many more aspects that can be valuable learning information for traders of all experience levels.
FXTM Ebook library is helpful for both new and experienced traders. The e-books help improve results and cover a range of topics, including cryptocurrencies, the Elliott Wave Theory, the Bullish Japanese Candlesticks and Strategies, and many more. All the traders need to do is register with FXTM to download the ebooks for free.
FXTM brokers offer several useful trading tools that allow traders to trade the markets efficiently. Right from technical analysis trading ideas to news flows, the tools can be accessed from different locations – the MT4/MT5 platforms, the Trading Services section, and the Market Analysis section. Some of the important tools offered by FXTM include:-
- Daily Market Analysis
- FXTM Trading Signals
- Pivot Points Strategy
- Economic Calendar
- Forex News Timeline
- Currency Converter
- Margin Calculator
- Pip Value Calculator
- Profit Calculator
- Invest Profit Calculator
The PIP calculator shows the value of pips in the currency that the traders want to trade in. The pip value is calculated by multiplying the trade amount in lots by 1 pip in decimal form and dividing it by the existing exchange rate of the currency in the trader’s chosen pair. Pip or point in percentage measures the movement in the exchange rate between two currencies. New traders can use the PIP calculator available on ForexTime limited to calculate the PIPs for their currency pairs.
FXTM features a forex glossary that explains the most important terms of the forex industry. This is the most important educational resource, especially for beginners who need to grasp forex jargon, as understanding the vocabulary is extremely important in every trader’s journey. The forex glossary is composed of various important keywords, trading terminology, and phrases related to forex.
FXTM Restricted Countries
FXTM or ForexTime UK Limited does not offer trading services to the residents of the United States of America, Japan, Mauritius, Haiti, Canada, Suriname, the Democratic Republic of Korea, Cyprus, Puerto Rico, Hong Kong, and Brazil.
FXTM Security Measures
- Exinity Limited is regulated by the Financial Services Commission, and ForexTime Limited is licensed by Financial Sector Conduct Authority and the Cyprus Securities and Exchange Commission CySec (license number 185/12).
- ForexTime UK Ltd is also regulated and authorized by top-tier FCA or Financial Conduct Authority (license number 777911). Being a member of the Financial Commission, Exinity Limited is engaged in resolving disputes that may exist in the forex market.
- Apart from this, ForexTime Limited keeps client funds in segregated accounts, away from the company’s operational funds. This means that the brokers cannot use client funds for their own retail operations, thereby ensuring protection at all times.
- Additionally, the website uses an SSL (secure sockets layer) encryption protocol that guarantees safe communication with the clients and protects information during transactions made with the same company.
- Moreover, FXTM is a part of the Investor Compensation Fund, or investor accounts lose money to a fund that guarantees to compensate if the company becomes insolvent. FXTM is a safe broker with sound financial conditions and a completely transparent website.
FXTM Customer Support Service
According to these FXTM broker reviews, FXTM offers great customer support and assistance in multiple languages via different channels. Both existing and new clients can reach the customer support team via live chat, phone support, and email support. FXTM offices are situated in different locations, including Cyprus, Malaysia, Thailand, India, Nigeria, the United Kingdom, Indonesia, and South Korea.
They can also contact customer service representatives via Facebook Messenger, WhatsApp, Viber, Callback, Telegram, and Facebook. The live chat support staffed with real agents is the most responsive support channel, making this communication channel quick and efficient; they are available 24 hours (Mon- Fri). Check the FXTM support page to find email addresses and contact numbers for different locations. Customers can also visit the FAQ section that answers most of the frequently asked questions, including general queries, registration process, verification process, deposits and withdrawal fees, bank account, forex, FXTM Invest, partnership programs, trading fees, and many more.
FXTM Review: Conclusion
To conclude this FXTM reviews, the forex brokers at FXTM have put forward a leading global brand that offers various opportunities in the financial markets to those who wish to earn profits from forex and CFD. It is one of the most established brands within the Exinity Group, specializing in leveraged trading and offering great potential to generate positive returns from forex currency prices, indices, shares, commodities, and stock CFDs.
Before a trader decides to trade forex or any financial instrument, they must carefully consider their experience level, investment objectives, market sentiment, and risk appetite. Note that this review of FXTM does not provide investment advice, so traders must be careful while using Stock CFDs. There is a high risk of losing money when trading CFDs.