FXTM Review – Online Platforms, Commission, Leverage, Account Types, Features & more
Take a check on the FXTM via this article, which provides you all the details of this forex stock broker.
You can check its Online Platforms, Commission, Leverage, Account Types, Features & more
Lets get Started.
About FXTM & Accepted Countries
FXTM is a well-established forex broker and a social trading platform, founded in 2011. They are a specialist in bringing the opportunities of financial markets to global audiences.
FXTM is a trusted trading partner and has the potential to provide its clients with the ability to generate financial returns in the dynamic prices across FX, commodities, indices, and shares.
Their network expands in Europe, Africa, Asia, and Latin America. However, there are regional restrictions. Also, there are some restrictions and the company provides a list of countries where the services are not accessible.
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FXTM Trading Platforms
FXTM trades with the market’s most popular trading platforms that are currently in use and with the company’s wonderful services, it is a powerhouse.
The company provides its clients with the two most respected platforms in the global market, MetaTrader 4, and MetaTrader 5.
All the significant operating systems and web browsers support the mt4 web trader.
MetaTrader 5 is also available for installation on desktops but it is now accessible to small screen users. The clients can access it via their pc or web browser as they desire.
The portal provides its clients who have several accounts with MAM that is the multi-account manager on MetaTrader 4 for their convenience.
FXTM Mobile App
FXTM have launched their mobile trading app. The company offers its clients this must-have app through which they can have the access to the financial markets at their fingertips.
The apps are quite user-friendly; it provides the traders and investors with news and analysis of the company.
A few swaps would lead the clients into the world of live market and administrative center.
Another striking feature is that the app provides its clients with a customization option. With this, they can adapt the apps according to their needs and preferences.
The clients can download these applications for free and it is available for all the users of the iPhone, iPad, and android.
This gives their clients the liberty to access it from anywhere and at any time of the day.
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FXTM Commission or Brokerage or Fees
As far as the company’s brokerage fees are concerned, they show a mixed picture with high and low fees existing together.
The clients can figure out their approach or even have the facility to fill out a questionnaire provided by FXTM to comprehend whether the charges would benefit them or not.
Another thing regarding brokerage fees is that the online brokerage charges are lower as compared to their traditional brokerage because of better-scaled businesses.
Also, the company does not charge their clients any deposit fees and as far as the withdrawal fees are concerned, it depends on the payment methods.
FXTM has an elaborated spread list and the spread starts from 0.0 pips. Also, for instance, in an ECN account, the commission is from $2 per lot.
The commission heavily relies on the account type of the traders and clients and the financial instruments in trade.
FXTM Exposure or Leverage
The company remains unbeatable when it comes to their leverage. This is one of the key reasons why traders are attracted to this trading company.
It is usually represented in the ratio in FXTM and they offer leverages based on some criteria which include their client’s knowledge and experience. It can be 1:100 or 1:500.
The companies also provide one of the highest leverage ratios in the market that may range up to 1:1000 which means that the clients have the authority to trade with $100,000 when they have opened their account with a mere amount of $100.
While leverages can earn substantial profit to the clients, it is important to remain aware of its potential risks as sometimes it may work against the liking of the clients.
Payment Methods provided by FXTM
FXTM provides its users with a variety of flexible modes of payment. However, the company does not accept payment in cash deposit.
The payment can be made through credit and debit cards and local payment solutions. The clients can also pay via the bank wire.
FXTM has also introduced other payment platforms such as PayPal Ewallet and WebMoney for the users.
PayPal e-wallet is available for all the people across Europe and it is a step towards their trader’s security and ease in receiving and paying the money as it is quite simple to access.
As for WebMoney, many important and experienced brokers prefer this method and it is also considered as one of the safest payment methods around. T
hey provide the clients with quick deposits and besides no extra fees are charged. Also, the clients receive their payment notification instantly which makes it quite reliable.
It is also important to note that there is a limitation on the amount that can be deposited in a day but it depends on the payment providers.
After the successful payment, the clients also have the option to look at the details by viewing their transaction history.
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Investment in Asset Classes or Markets by FXTM
The clients associated with the company have a plethora of opportunities to invest in a wide range of asset classes.
The asset classes include precious metals as an alternative investment option. Interestingly, these precious metals are among the most popular asset classes used by traders.
The company also provides commodities to help the client explore trading opportunities in some of the world’s massive natural resources markets like oil and natural gas.
The company also provides its traders to experience revolutionary financial assets like trading bitcoins.
Besides, the company has signed out more than 300 listed companies of the USA which are available to their traders on the MT5 platform.
The clients can also request for accessing additional stocks if they wish.
FXTM Virtual Trading Account or Demo Account
FXTM provides its clients with an opportunity to open up a demo or a virtual trading account to showcase and improve their skills and strategies.
This account has virtual money so that no real capital is in and the users get to experience real market situations with zero money investment.
Even with no money involved, the company makes sure that the clients get all the tools and functions like a live account for a better understanding of the financial market.
While beginners can gain a lot of experience as it enables them to learn to practice using trading in complete safety until they are ready to jump in the live market.
It is a common misconception that the demo account is only for beginners.
It plays a significant role in the existing and experienced traders as well. They can enhance their strategies and skills using this demo account.
Further, it also acts as a try and test tool so that they can first try out the new techniques they are about to use to see how they perform in the market.
FXTM Offers and Deals
The company offers its clients bonuses and deals from time to time.
One of the offers that they provide is the $300 trading bonus that the new and already existing clients can avail of when they make a deposit and trade on the accounts like MT4 Standard, ECN Zero, MT4 ECN, MT4 ECN, and Cent Account.
The company also offers deals to its loyal clients under a tag of the FXTM loyalty program.
They have different stages of loyalty and each level up has a higher reward. Clients pay get increased according to their increment in trade.
The company provides them with a $5 cashback every time they trade. There is also a bonus available for the new users. They can avail of it by registering for an account with the company.
One thing that the users should note is that, all the offers are followed by regular terms and conditions, so it is necessary to read them.
FXTM Regulation or Licensing
The brand FXTM is regulated and controlled in a variety of jurisdictions. Cyprus Securities and Exchange Commission licenses Forextime Limited (FXTM).
Find out Regulations & Licensing of more Forex Brokers
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The company has launched MyFXTM in which the clients gain access to its numerous features organized in one place.
Here the clients get detailed instructions on all the features provided by FXTM.
They have choices for accounts which is a benefit as the traders can choose the account according to their needs.
The traders also gain unlimited access to numerous trading instruments which is a fun experience.
FXTM Account Types
FXTM is a leading forex and CFD broker. This review deals with the FXTM account types, certain benefits, drawbacks, their trading hours, about their customer care or contact details, the safety, and security policy.
It has the following account types.
FXTM Trading Account
This forex account type is made available to the trader without the swap option.
It offers a large variety of features and uses that are suitable to all types of traders, be it the most experienced one or the least experienced one.
It adds great value to the experienced traders. The minimum amount that can be deposited in this forex account is $100. It offers the most products to the trade.
FXTM Cent Account
This account is exclusively for traders like small depositors who wish to work with small deposits. It also grants access to all the people who want to start trading.
Besides, it needs a very low amount of deposit i.e $10. It is a type of Meta trader account which is denominated with cents and not dollars.
This gives an understanding that the trader can deal with small trade sizes compared to that of a standard account.
FXTM ECN Account
An ECN account is a trading account that uses specific tools to cope with the orders which the trader places.
Spreads sometimes can appear to be very low for more of the liquid Forex pairs. The agent charges extra charges to the spread which is a commission charge.
An ECN account helps the trader to use a huge range of dealing styles having automated tools such as trading and scalping.
ECN Zero Account
Along with an ECN account, there is an ECN zero account that charges no commission.
FXTM Pro Account
An FXTM Pro account doesn’t charge any commissions but has to offer an institutional spread with no additional commission charges.
It has certain advantages of tight spreads and competitive commission on its side. The standard commission in the FXTM Pro account is one of the lowest.
FXTM is a renewed forex broker having amazing customer care that provides beneficial services.
They have strict security and safety guidelines that help the traders to deposit their money confidently with perfect validation of their amount.
Adding to this, their selection of certain tools is remarkable and exceptionally good.
FXTM Cons Or Drawbacks
Bank account withdrawals cost higher fees when compared to others. You may not understand the fund and deposit related details initially.
The cryptocurrency does not work in this portal.
FXTM Trading hours
The site is open 24 hours of the day and all 365 days of the year.
Usually not all the markets are open for 24 hours so it makes the trading limited to specific hours of the day when the other markets are also open.
FXTM Customer Care and Contact Details
The operating hours of customer care are 12 hours i.e 8 am to 8 pm.
In this hour, customers or clients can contact the customer care services by various sources like a phone call or sending an email or either by post or try different numbers in online chat options.
Customers or clients can also have an option for a callback from these services. The email address for contacting them is @forextime.com
FXTM Safety and Security
The site uses certain software to make sure the user’s privacy is safe and secured. There is protection of deposit and amount of clients in different types of accounts in FXTM.
There are various security measures taken and it is for the sake of customers with customer protections.
They are necessary for FCA compliance. It makes sure that the traders who use the FXTM site have a safe and protected account against theft of funds or data.
The site uses certain software to ensure users account privacy and security Protection of client’s funds in segregated accounts in top tier banks and Registration of various clients in the Investor compensation fund.
FXTM – Conclusion
The loyalty of the site is a major advantage as a great discount is available for the accounts bringing fast reward.
More of the levels require a particular amount of deposit to qualify, meaning certain traders or those who don’t hold assets for themselves are more likely to enjoy a certain reward.
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