This platform lets you access your FXTM account from any computer connected to the Internet without the need to download any software. Negative reviews are rare and often relate to individual trading losses, which are inherent risks of financial markets. FXTM customer support is available 24/5 weekdays, with limited coverage over the weekend. In my research, FXTM showed transparency in its regulatory status, listing its regulators in the footer of the website page.
Leveraged traders also pay swap rates on leveraged overnight positions, and currency conversion fees may apply. The MT4&5 platforms are quite intuitive to use and can readily be mastered by opening a demo account to practice in. The demo account is an extremely powerful educational tool that lets you trade using virtual money to avoid risking any real funds. Demo accounts can also be invaluable to traders developing and testing a trading strategy. FXTM offers 1000+ tradable instruments spanning CFDs and real stocks.
Swing Trading: Perfect Match
By trading shares in the form of CFDs instead of directly, you can open a position in either a bear or bull market. As with most other asset classes, you can trade precious metals on FXTM in the form of spot metal CFDs. Metals are commonly considered safe havens, making them popular during volatile times and a good way to diversify your portfolio. With FXTM, you can trade silver or gold, doing so against up to three currencies. Silver can be traded against the EUR or USD, while gold can be traded against the EUR, GBP, or USD.
How does FXTM ensure trust among its clients?
The support team is knowledgeable and responsive, ensuring a smooth experience for beginners. These regulations ensure that FXTM adheres to strict financial standards and provides protection for its clients. FXTM excels in the area of research with analysis from a seasoned in-house team, complimented by trading signals from Acuity within the client portal and a range of custom MT4 add-ons. Again, we see a better-than-average range of payment methods and fast withdrawal processing, but in some cases, fees must be considered. 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.
Signal Centre, powered by Acuity, can be accessed from the client portal. Acuity is an FCA-regulated provider of technical analysis and trading plans. 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.
The account is not ‘standard’ as such, with the name coming from the fact that traders can trade standard lots. On one occasion, I encountered a minor technical issue with my account. The phone support team resolved the problem efficiently and even followed up with a courtesy email to ensure everything was working smoothly. This level of attentiveness is reassuring, especially for new traders who might feel overwhelmed at times. The minimum deposit varies depending upon which account type you choose to trade with. For an FXTM Stock CFDs and FXTM Standard Account, this deposit is 100 USD/GBP/EUR.
It also offers improved functionalities for algorithmic trading capabilities. The MyFXTM back office is where traders make all their deposits and withdrawals. Forextime does not levy internal deposit fees but charges for withdrawals, which is unfortunate. Traders may also face third-party processing costs and currency conversion fees. I recommend checking them to determine the most convenient and cost-effective solution. Processing times vary based on method and rank from instant to ten business days.
- On the other hand, the advanced pro account does not charge a commission yet still manages to maintain a very low spread starting from 0.5 pips.
- Negative balance protection and FCA’s strict regulation both make FXTM an ideal choice for traders who are looking for a safe trading environment.
- To view the nitty-gritty details, traders can find the Client Agreement on the Terms and Conditions page.
- Therefore, this broker can be suitable for all types of trading strategies, including scalping.
- FXTM offers a swap-free Islamic account that adheres to the principles of Sharia law.
His contributions play a crucial role in the company’s success, ensuring efficiency and effectiveness across different departments. Prior to his role at Benzinga, Luke has held positions that have honed his skills in leadership and strategic decision-making. Most deposits are processed instantly, and withdrawals are typically completed within 1-2 business days, depending on the method used. This variety ensures that beginners can diversify their portfolios and explore markets they are interested in. Video content is focused on a few categories like trading basics and FXTM Invest.
FXTM Trader App
Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website. A glossary – There is an https://traderoom.info/fxtm-what-a-trader-is-in-for/ extremely comprehensive glossary of financial markets and trading terminology covering hundreds of different terms and concepts. They offer 63 forex currency pairs, but only 8 commodities pairs, which actually number only two precious metals versus different currencies, Brent and Crude Oil plus Natural Gas.
- We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews.
- FXTM encourages traders to download both the MT4 and MT5 platforms, then use them in parallel before making their final decision.
- Consult relevant financial professionals in your country of residence to get personalized advice before you make any trading or investing decisions.
- When it comes to trading costs with this account type, spreads start from an excellent value 0.1 pips along with a $2 per lot traded commission.
- Whilst both of the platforms have a very similar look and feel, MT5 has more functionality.
- Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004.
- Watch my video walkthrough of the FXTM app below to get a real feel for the design and features.
IC Markets
The broker does not provide any copy trading solutions, so it is not suitable for those who want to participate in copy and social trading. FXTM does not directly pay dividends but if you hold positions in stock CFDs that go ex-dividend, the broker makes a dividend adjustment to your account. This means if you have a long position, your account is credited with the dividend amount, while a short position results in a debit from your account to reflect the dividend payout. Hi Amos, FXTM does not currently offer a bonus program with your deposit when founding your account.