Jan 02 2021 0
FXTM has long been a famous forex broker in the market. Most traders that have worked with this broker told me that this is a reliable and cost-efficient broker. So, it FXTM really good? What you we know before trading with FXTM? Can you make profits from FXTM? The answers are all here in this FXTM review.
Basic FXTM review
FXTM, also known as Forex Time, was founded in 2011, is a forex broker with offices in Cyprus, England and Belize. Forextime Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC), South Africa's Financial Sector Authority (FSCA), the UK's Financial Regulatory Authority (FCA) and the Services Commission International Finance (IFSC) of Belize.
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Customer deposit funds are kept separate by FXTM at Europe's leading independent banks, separate from the company's investment and operational funds, ensuring customer deposits will not be affected when Company went bankrupt. It is also one of the members of the ICF (Investor Compensation Fund), protecting up to 20,000 Euros for each customer as an insurance policy in case of unresolved disputes. This is one of the outstanding features that helps FXTM to grow quickly.
In addition, from 2013 to the present, FXTM has continuously won many prestigious awards in the industry such as: Best trading experience (2019), Best Online Forex Trading Company Nigeria, Environmental Prize forex world, reputable trainers and investors, forex Brand of 2018, Best Trading Conditions...
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FXTM trading accounts
FXTM offers 6 different trading accounts, suitable for all traders, from beginners to experts. FXTM accounts are divided into 2 types:
- Standard accounts: Standard, Cent, Shares,
- ECN accounts: ECN, ECN Zero, and FXTM Pro
Standard accounts have flexible floating spreads from 1.3 pips and leverage up to 1: 1000, using both MT4 and MT5 platforms. Standard accounts have fast execution speed and use EUR, GBP and USD currencies, with minimum deposit requirement of 100 EUR/USD/GBP.
The cent account is similar to the standard account, however, the fixed spread is applied from 1.5 pips, the fixed leverage is 1: 1000 and is only used on MT4. With a minimum deposit requirement of 10 EUR/USD/GBP, the Cent account is suitable for new traders to start trading from demo to live accounts on a small scale.
Shares accounts are specifically designed to trade over 180 US stocks using MT4 with a fixed leverage of 1:10 and no commissions. The data is provided in real time with instant execution from the famous NYSE and NASDAQ exchanges.
FXTM has different spreads, depending on the type of trading account. Standard accounts have low floating spreads of 1.3 pips, no hidden commissions, fixed spread with Cent accounts from 1.5 pips and 0.1 pips for Shares accounts.
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ECN Zero accounts offer floating spreads of only 1.5 pips without commission, while ECN accounts have low spreads of 0.1 pips with commission of 4 USD per lot. Especially, with the FXTM Pro account, the lowest spread is only from 0 pips provided that the minimum account balance is maintained at 25,000 EUR / GBP / USD.
Basically, Forex Time does not apply for transaction fees with the majority of accounts. Only ECN accounts that apply floating spreads of just 0.1 pips are eligible for a fee of 4 EUR/GBP/USD per lot traded (of which 2 EUR/GBP/USD when opening orders and 2 EUR/GBP /USD when closing a deal).
FXTM trading station
FXTM trading station, or trading platform, is no stranger to the majority of forex traders. FXTM uses the common platforms developed by MetaTrader, MT4 and MT5. These are the most common trading platforms in the market. So if you have experience in forex trading, you will have no difficulty learning to trade when you start at FXTM trading station. Since they use the standard MT4 and MT5 platforms, the mobile platform of FXTM is also the normal MetaTrader app. You can easily find it and download from App Store or Google Play.
Check FXTM platforms
Why do traders love FXTM?
FXTM is a fast-growing forex trading platform in the world, first launched in 2011. FXTM is managed by different jurisdictions and managed by multiple entities.
FXTM offers a wide range of accounts, including regular accounts (Standard accounts, Cent Accounts, Shares Accounts) and ECN accounts (ECN, ECN Zero, and FXTM Pro) to meet your needs. Various transactions of every investor. With a wide range of trading products (including Forex, CFD, Metals, Indices and Stocks), FXTM Clients are free to trade on the Meta Trader (MT4, MT5) platform of personal computers or mobile devices as well as investing in FXTM-Invest (Copy Trading Platform).
There are many reasons for Forex Time to be appreciated by customers such as: the minimum deposit requirement of the exchange is only $10, leverage support up to 1:1000 and low floating spreads (to 0.1 pip), as well as extremely fast execution speed. Besides, FXTM review is also loved by investors because there are many convenient payment methods. In particular, the multilingual service support also helps FXTM become closer to investors than ever before.