FXTM Forex Broker Overview

FXTM Forex Broker Overview

A result of months spent with the broker, the review team had performed an exhaustive examination of all the services being offered by FXTM. The following facets of the brokerage firm’s services were taken into rigorous scrutiny so as come up with a well-informed evaluation of the firm’s capabilities:

 

  1. The financial authorities that regulate all of FXTM’s trading activities
  2. The trading accounts available to FXTM’s clients
  3. The trading platforms that are being offered through the FXTM accounts
  4. The fees being charged by the firm for the services that it provides

 

The method administered for this review had been comprehensive with all members of the team tasked with the examination of the brokerage’s site and the entirety of its capabilities.

FXTM Forex Broker Overview

About FXTM

 

FXTM, shorthand for ForexTime, was established back in 2011 with the aim of being a noteworthy brokerage that specializes in trading Forex pairs and CFDs.

 

FXTM is being regulated by industry-leading financial authorities, UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). As this is the case, a number of online traders see FXTM as a safe brokerage firm to trade with. FXTM clients are assured the security of their data and funds. 

 

The review team’s preliminary findings strongly suggest that FXTM is a viable brokerage firm. The initial attractive data is owed to its notable customer service, wide array of educational materials, and fast account creation through digital means.

 

While there is an abundance of positive opinions regarding FXTM, negative reviews are still able to seep into the cracks. These are usually attributed to the relatively-high fees that are charged on Stock CFDs, inactivity and withdrawals, and a limited product portfolio. The trading fees are seen at an average with only a requirement of $10 to open an account. This is seen as a cost that is low when set against what other brokerages charge traders. 

 

Offers and Services

 

With the only exception being the costly Stock CFD fees, the Stock index fees for FXTM are seen to be cheap by its clients. This could also be claimed for the fees charged for the currency fees, EUR/CHF and the EUR/GBP. 

 

The other fees that FXTM imposes on its clients are detailed on the table below:

 

AssetsFee Terms
S & P 500 CFD
  • The fees are built into the spread
  • Average spread cost is at 1 point within peak hours
Europe 50 CFD
  • The fees are built into the spread
  • Average spread cost is at 3 point within peak hours
EUR/USD
  • The opening of a position is charged
  • Commission is based on a trader’s balance and monthly volume
  • Average Spread cost at 0.5 pips within peak hours
Inactivity                 $5/month after inactivity of 6 months

 

The fees that have been detailed on the table may be considered sound by traders who are just starting off in their career. This is highlighted by the provision of access to the popular Stocks mentioned. 

 

FXTM makes 5 types of accounts for its clients. The offerings for each are detailed here:

 

Account TypeCountry of OperationsPricingMinimum DepositTrading  PlatformsProducts
Standard AccountAllSpreads are higher

No commission

$/€/£ 100MT4Forex, commodity / stock index CFD
Cent AccountAllSpreads are higher

No commission

$/€/£ 10MT4Forex, commodity CFD
Stock CFDs AccountEU Countries w/ UKSpreads are higher

No commission

$/€/£ 100MT4Stock CFD
ECN AccountAllSpreads lower

w/ commission

$/€/£ 500MT4/MT5Forex, commodity / stock index CFD
ECN Zero AccountEU Countries w/ UKSpreads are higher

No commission

$/€/£ 200MT4/MT5Forex, commodity / stock index CFD
FXTM Pro AccountAllSpreads are lower

No commissions

$/€/£ 25,000MT4/MT5Forex, commodity / stock index CFD 

Spot metals / real stock (only available for non-EU and non-UK clients)

 

What had been immediately noticed by the review team are the low costs for opening an account, the inverse relationship between spreads and commissions, and the offering of MetaQuotes’ trading platforms MetaTrader 4 and 5. As already known by its users, MT4 and MT5 offer a wide selection of trading tools, customizable charts, and a range of technical indicators. 

 

The offering of the MetaQuotes’ two leading trading software is lauded by both the review team and the entirety of the online trading community. These are seen as being highly efficient and open to the integration of numerous trading tools and add-ons. 

 

When one is to look at the minimum deposit, it is easy to assume that the traders are already given a lot even if they are just to open a Cent Account. 

 

The relationship between the firm’s offered Spread levels and commissions are not really noteworthy, while wholly decent. 

FXTM Forex Broker Overview

Trade with FXTM Today!

 

The review team’s findings strongly suggest that trading with the brokerage firm, FXTM, is a more than a competent firm that can go head-to-head with the more well-known brokerages in the industry. This is affirmed by the following aspects of FXTM’s service:

 

  1. The high integrity and repute of the regulatory bodies sanctioning FXTM specifically, the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC)
  2. The numerous offers that the FXTM trading account has especially when looking at its available Spreads and Commissions
  3. The reputable trading platforms available with each trading account.

 

These facets of FXTM’s service paint a positive picture for FXTM. All members of the review team agree that the firm is a viable option for those wanting to start a career in trading. 

An Khmurenko

An Khmurenko has been trading on the stock market for the last 20 years. The experienced trader offers advice for novices and provides them with an opportunity to profit from market volatility with minimal risk. An develops effective and highly profitable strategies tailor-made for each individual beginner. Not long ago, she decided to share her knowledge through tutorials and webinars.
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