Is FXTM A Safe Forex Broker?

Once all the documents had been received, our account was ready for trading within one day. Next, we were required to fill in our financial information and answer questions about our trading knowledge. MT4 and the FXTM mobile apps are available on both Android and iOS. Type 0 – in pips, Type 1 – in the symbol base currency, Type 2 – by interest, Type 3 – in the margin currency.

After placing a trade, traders can choose to go for short-term volatility or a long-term buy/sell position. 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.

Furthermore, demo trading is very useful for experienced traders in testing and developing their trading strategies. Instead of placing orders using real money, demo traders open and close positions using fake money. The Forex broker provides access to trading 19 Major pairs such as AUD/JPY, AUD/USD, EUR/USD, USD/CAD, USD/JPY, and more. Major currency pairs are backed by strong economies and are more stable compared to exotic currencies. Retail traders, institutional traders, governments, international companies, and banks are exchanging more major currencies than exotic ones in the Forex market.

• One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage.
• Stop Out levels are predetermined margin percentages where the broker automatically closes open positions to prevent further losses.
• Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers.
• BrokerChooser is free to use for everyone, but earns a commission from some of its partners with no additional cost to you .

There are two main differentiating sections as part of their account type, being standard accounts and ECN accounts. They give traders access to find new opportunities in the global commodities markets by trading CFDs online with low margin requirements. This is a flexible and convenient way to access the commodities markets rather than purchasing the product outright and to diversify your portfolio. Traders look to take advantage of the fluctuating prices of oil and other energy products. Whilst the majority of you would probably get by with the platform tools, it is always nice to have some more at your disposal and helps the broker standout form the competition. If tools are important to you, Markets.com have a great selection.

It’s best for novice https://forexhero.info/ to avoid trading exotic pairs due to low liquidity. FXTM offers 17 exotic pairs including CHF/NOK, EUR/HKD, GBP/PLN, EUR/TRY, USD/CZK, etc. In addition, you can trade up to 22 minor pairs which include CAD/JPY, EUR/NZD, AUD/CAD, and EUR/RUB, USD/RUB. The total number of instruments you can trade is more than 2,200. However, it must be noted that the number of available assets varies for different account types. In addition, you can trade more stocks and stock CFDs using the MetaTrader 5 platform.

Opening an Account at FXTM

FXTM also distinguishes itself by being overseen by two top-tier regulators and by offering a proprietary mobile app. With the FXTM Pro Account, spreads start at the tightest possible 0.1 pips. Flexible Leverage, based on country of residence, knowledge and experience. With a combined experience of more than 30 years, the management pledges transparency and quality services. FXTM does not offer its services to residents from the US, Canada, Japan, Haiti, Mauritius, Noth Korea, Puerto Rico, and a couple of other countries.

FXTM is regulated by the FSCA in South Africa and accepts forex brokers in South Africa. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. Yes, FXTM offers demo accounts via MetaTrader 4, MetaTrader 5, and the FXTM Trader App.

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Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. FXTM analysis and news are available, so traders can stay on top of the markets while on the move. Clients can also top up funds and make withdrawals through the app.

The platform is free to use and allows traders to manage their trades and analyze different markets. 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. 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.

Withdrawing money using the same method will cost you $3 and the process will take up to 24 hours. Meaning the broker will close your positions in order to prevent your funds from going negative every time the price reaches the 40% margin level. What’s more, FXTM is a part of the Financial Commission’s Compensation Fund. The Compensation Fund is dedicated to resolving disputes between the financial services industry and the market. There are a couple of indications that can help you tell whether your broker is trustworthy or not.

FXTM Islamic account

FXTM maintains 63 currency pairs, 0 cryptocurrency pairs, 8 commodities, 16 index CFDs, 1,266 equity CFDs, 452 US-listed stocks, five stock baskets, and six FX indices. The choice of commodities, and index CFDs are limited, but the overall choice of trading instruments is competitive. I also like that Forextime offers 452 stocks for direct investments, albeit only US-listed ones.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high. It is highly customizable, available in a lot of languages, and has a clear fee report.

Once verified by the accounts team, you can fund your account and start trading. You can trade metals online with FXTM including Gold and Silver. Precious metals are popular trading instruments that have been traded throughout history and can help to diversify an investment portfolio.

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The chain of fxtm forex broker review offices is also established around Europe, located in the UK, and maintains an entity in South Africa. Also authorized by Financial Conduct Authority and other regulators, In a relatively short time, the firm showed great and rapid growth within Europe and beyond through its focus on Africa and Asia regions. Additionally, the website uses an SSL encryption protocol that guarantees safe communication with the clients and protects information during transactions made with the same company. Answer a few financial questions, experiences, and background questions, then fill out a form about financial knowledge. 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.

FXTM broker has received multiple awards and recognitions during its years of operations. Most recently, in 2018, the company was named the ‘Best FX Broker in Asia’ by World Finance as well as a broker with ‘The Best Conditions’. It was also named ‘The Most Innovative Broker’ of 2018 and ‘The Best Broker in Russia’.

Note that withdrawals are limited and requires contacting the offices. Ideal for trading professionals, institutional traders and hedge fund managers alike, with FXTM Pro account. Nonetheless, beginners can dive in starting with basic accounts and education provided in the website.

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The smart user interface of MT5 enhances the entire training experience and provides several additional trading features. It is a market leader and future trading platform for trading it is suitable for both demo accounts and live ECN accounts. FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using credit/debit cards, bank wire transfers, e-wallets, and other online payment methods.

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. This account is similar to the ECN zero account but spreads start from just 0.1 pips and there is a small commission charge of $2 per lot. Spreads are usually tighter and execution speeds superior on an ECN account. FXTM offer a wide range of over 250+ trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies and CFDs. There are over 60+ minor, major and exotic currency pairs, 180+ share CFDs and major Cryptocurrencies such as Bitcoin and Ethereum.

Web trading platform

It is full of detail and interesting leads for new trading opportunities. We were also impressed by FXTM’s range of useful trading tools. With only MT4 on offer, in addition to its proprietary FXTM Trader app, we found that FXTM’s platform support is average compared to other Forex brokers.

We tested the account opening process, which took approximately 10 minutes to complete, and once our documentation had been submitted, our accounts were ready for trading within about 24 hours. Overall, we liked how user-friendly the app is, and its simple design will appeal to beginner traders. The presence of tight spreads when performing trading operations. Hussein Sayed – He has 14 years of experience in financial markets. It has certain advantages, in particular, adaptation to any computer operating systems. At the same time, it has some disadvantages, namely, the absence of some indicators.

For example, you won’t be able to trade exotic pairs using the account type. The 1.5 pip markup is very high compared to other Forex brokers. Keep in mind that in a live trading environment, spreads can get much higher due to a lack of liquidity.

However, you can trade various financial instruments with this broker, including FX pairs, commodities, metals, stocks, stock CFDs, FX indices, indices, and stock baskets. You can download the software of your choice for your iPhone or Android devices. Mobile trading can be very beneficial for most traders due to the fact that it provides access to markets from anywhere in the world.