Also, it is not possible to trade exotic currency pairs with this account. FXTM is a broker is truly living up to its vision of outstanding brokerage services. With multiple regulation and innovative technology, it has attracted over a million clients to itself. The MT4 and MT5 remain excellent choices in terms of popularity, technology and reliability.
FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand. Regulations are in place to ensure that the broker operates with the upmost fairness and integrity whilst they must comply to strict regulatory rules. Strict regulation in multiple jurisdictions can help to give clients peace of mind that they are using a trusted and transparent broker. Deposits have no fees, while withdrawals come with various feels depending on the transaction form. However credit card charges are $3, and e-wallets are free of charge. Keep in mind that if you are not active on your account for over 6 months, you will be charged a $5 fee.
Withdrawal Options 💳
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Forextime is also acquiring a regulatory license in Kenya as it expands across the African continent.
- Commissions on this account start at just 0.1 pips on stocks, making it a great stock trading account when compared to other major brokers.
- There is a free demo account you can take advantage of before committing your money to the broker so you can get a feel for how it works.
- I like that FXTM does not incorporate unnecessary steps or questionnaires.
- Apart from FCA, FXTM forex broker also has the license from CySEC, which is one of the top regulations in Europe as they are a member of the European Securities and Markets Authority (ESMA).
- Additionally, FXTM broker offers their services with a highly personal touch.
Scalping and hedging are allowed and the commissions start at just $4. The platform provided by FXTM is the most popular forex trading platform in the world, MetaTrader’s MT4. As a third-party agent provides this software, registering for an account and downloading the platform requires new users to agree to licence agreements with MetaTrader. This process is relatively straightforward and involves simply reading and clicking on agreements.
Bonuses vary from platform to platform so it’s important to understand the detail in earning and obtaining any sort of bonus. The platform does offer a reward loyalty program where you can earn cash back. The complete details can be found on their website, https://limefx.biz/ but this offers their clients another way to earn a little more money. From there, look for the various bonuses which include a 30% deposit bonus. When selecting an appropriate Forex broker, one of the checkboxes that needs to be filled is reliability.
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Based on our research we found out that FXTM offers a user-friendly platform with all the tools and resources you need to trade successfully. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. It would be better if they could add support for some more currencies, especially considering they have a global clientele. Keep in mind that there is a small inactivity fee of $5 if your account has no trading activity for 6 months. Overall, the FXTM pro account has lower spreads, more liquidity and faster execution speeds.
- Once your account has been approved, you can then make a deposit using one of the many methods available.
- Once verified by the accounts team, you can fund your account and start trading.
- That selection of messaging systems, particularly the social media ones, is a stand-out feature for FXTM.
- Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com.
- Depending on the deposit method chosen, transfer time ranges from 1 to 24 hours on average.
So, if you are looking for a best forex broker with a variety of features, you can surely try FXTM or Forex Time. Additionally, FXTM broker offers their services with a highly personal touch. With cutting-edge trading technology, the company is among the trailblazers in this competitive field. The FXTM Advantage account, also known as FXTM standard account, is the most popular choice. Unlike the Micro Account, it has a minimum deposit of $500, and you can use USD, EUR, GBP, and NGN as the base currency. You get to see the real-time live charts and quotes along with different active indicators and analysis tools.
You will also find commissions for stock trading via PRO MT5 here. You can view every single one of the margin and leverage requirements for ForexTime trades on the appropriate page on the broker’s website. With FXTM, traders are able to trade a nice range of instruments. Although ForexTime is one of the newer brokers, it has been growing at a fast pace and has earned numerous awards in it’s lifetime. Our testing team chose the phone call-back option as not many other brokers offer that service. A representative from FXTM typically responded to the request within approximately 60 seconds.
What is the FXTM Cent account?
Once completed, a new set of login details will be emailed to the new user, which are required to access the trading platform. Besides lots of currency pair,
FXTM also offers some instruments you would like to trade on, such as
Forex and Gold & silver for your best choice. Somehow, remember that different instrument
has different trading conditions. In this case, you have to make sure that your strategy is well
suited for the instrument you chose. Besides lots of currency pair,
FXTM also offers some instruments you would like to trade on, such as
Forex, Gold & silver and CFD for your best choice.
It upgrades MT4 with six plugins plus its Pivot Points Strategy, featuring live updates and commentary from the FXTM Head of Education, and the mobile app is user-friendly and easy to use. They ensure traders have an edge versus the out-of-the-box versions most brokers offer. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
Deposit fees and options
FXTM profit calculator tool is used to help traders determine how much profit they will make on a trade. The calculator consider the trade size, the current market conditions, and the user’s desired profit. By inputting these values, the calculator can then provide the trader with a projected profit amount. This information is beneficial to take trading decisions and assessing potential risk. You can get up to a $200 bonus on your deposit, but bonuses might not be offered all the time. Sometimes, you may get a bonus on every deposit during a specific time period.
FXTM provides loyal traders with frequent bonuses, promotions, and the FXTM Loyalty program. Irrespective of the experience level of the traders, there is something for everyone at FXTM. A lucrative deposit bonus of 30% is offered to traders who make a minimum deposit of $100.
These FXTM Trading Signals include 8 currency pairs, 3 market indices, and 3 commodities plus 3 popular technical indicators, and 2 scenarios. They also include 4 take-profit levels, 2 daily updates before the opening of the US and EU trading limefx review sessions, and protective stop-loss to protect your capital and minimize risk. It also includes one-click trading for quick market action, real-time updates that include live currency updates, and state-of-the-art charting tools.
Processing times vary based on method and rank from instant to ten business days. While the excellent trading costs and transparency stand out at FXTM, I also like the proprietary copy trading platform, FXTM Invest. It allows investors to follow strategy managers, and FXTM provides relevant information on each. The community is not as big as other services, but all the top 75 listed managers show positive performance, which FXTM states remain audited and verified.
One very useful part of the ForexTime website is a comparison between MetaTrader 4 and MetaTrader 5. That way, clients can choose which platform from MetaQuotes will work best with their FXTM trading experience. It also means that there is a wealth of resources and tutorials available, both from ForexTime and other sources. Of course, that also means that traders get all the great features of the MetaTrader platforms. Many traders appreciate the fact that automated trading ensures you do not miss any opportunities if you cannot watch the markets 24/7.
FXTM Alternatives
This information can help traders identify opportunities and risks in the market. A major advantage of using this trader is that FXTM is regulated by authorities in the UK and Cyprus, both of which have deposit protection insurance. As a consequence, if you are trading from within the EU or UK through FXTM, you could be eligible for £85,000 or €20,000 in cases of brokerage insolvency. ECN accounts are designed for forex experts and don’t have a maximum number of orders or volume of lots in an order. Trading with an ECN account results in a better rate thanks to a reduced average percentage in point (pip) values but requires a higher minimum deposit amount. FXTM Pro ECN accounts, for example, only offer super low spread values if a balance of 25,000 USD/EUR/GBP is maintained.
It has technical analysis tools such as 31 graphical objects, 30 technical indicators and 3 chart styles that can be displayed on 9 timeframes. FXTM offers the MT4 WebTrader, the desktop version on Windows and mobile versions for Android and iOS. FXTM states, “We work every hour on the hour to make your trading lives easier and to offer you a unique trading experience”. That being said, they offer client tight spreads within 0.1 pips, fast execution, deep interbank liquidity and expert advisors.
This virtual trading app provides the ideal environment in which to learn more about how foreign exchange markets operate. The ForexFXTM platform is full of handy features to help you manage trades. We were especially impressed by how easy it was to modify our positions using cross-device trading, which enabled us to open a trading position on one device and close it from another.
The broker provides comprehensive analysis, education, and research. The ForexTime (FXTM) in-house experts are always busy with seminars, webinars, training articles and daily analysis. A swap-free version is available for use with the MT4 platform only. Available asset classes include major/minor/exotic currency pairs, spot metals, spot CFDs, crypto-currencies (some variation based on which platform you use).
Note that stock trading activities are available only on the FXTM MetaTrader 5 platform. Trading account holders with a minimum balance of £250,000 can become eligible to receive spreads of institutional levels. Lot sizes for stock trading include standard to mini to micro, ranging between 0.01 to 250 lots per trade. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader.