Are you looking for an online broker that can provide you with all the features and services necessary to make your trading experience successful? If so, then a FXTM review could be just what you need. This article will take a look at FXTM in 2023, providing insight into their offerings and how they measure up against other brokers. We’ll discuss fees, customer service, security, account types, and more – helping investors determine if this broker is right for them.
FXTM has been around since 2011, making it one of the longest-running brokers on the market. Over the years they’ve continually innovated and evolved to keep pace with changing industry standards and regulations. They are regulated by several institutions including CySEC and FCA, ensuring clients have access to reliable protection when using their services. From beginner traders to experienced professionals, FXTM offers something for everyone – allowing traders to customize their accounts according to their needs and preferences.
At first glance, it’s easy to see why so many people choose FXTM as their go-to broker. But don’t take our word for it; read on to find out everything there is to know about FXTM in 2023!
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Overview
Fxtm is an established trading company that provides access to global financial markets. It offers a wide range of services, from foreign exchange and CFDs to commodities and indices trading. This renowned broker has been in the business for over 10 years now, providing clients with reliable service and support. Their products are largely tailored towards new traders and those looking to diversify their portfolios.
The platform uses advanced technology and analytics tools to ensure secure transactions across all platforms. They also offer educational resources to help traders enhance their knowledge about the market. The customer service team is available 24/7 through phone or online chat, ensuring quick resolution of any inquiries or issues you may have while trading on fxtm.
Overall, Fxtm provides a safe and comfortable environment for users who want to trade confidently on the foreign exchange market. With its competitive spreads, leverages up to 1:500, and user-friendly interface, it’s no wonder why many people consider this broker one of the best in the industry today.
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Pros & Cons
Pros
- FXTM is a trusted international broker, offering traders access to more than 250 assets across Forex, CFDs, and Cryptocurrency.
- It offers competitive spreads, low fees and commissions on trades, high leverage of up to 1:30 for major currency pairs, fast execution speeds and advanced trading platforms.
- The broker also provides educational resources such as seminars and webinars that can help new traders understand the markets better.
Cons
- Higher costs for certain types of accounts.
- Additionally, it does not offer any bonuses or promotions which may be off-putting for some potential traders.
- Customer service could be improved in terms of response times and availability; however this has been improving over recent years.
Features & Benefits
Moving on from the overview of FXTM, let’s take a closer look at some of the features and benefits that this online broker offers.
When trading with FXTM, you are presented with plenty of options to choose from in terms of financial instruments. Spread-trading is available on several currency pairs, with competitive spreads starting as low as 0 pips. You can also open positions across various global markets such as commodities, stocks, indices, cryptocurrency and more! It’s easy to diversify your portfolio thanks to the broad range of assets that this platform has to offer.
FXTM provides its traders with multiple ways to optimise their trades for maximum returns:
- Hedging opportunities – allowing traders to protect themselves against market movements by opening two opposite positions simultaneously;
- Automated Trading – helping traders make informed decisions quickly;
- Copy Trading – copying strategies created by experienced professionals or other successful investors;
- Advanced trading tools – including Expert Advisors (EAs) and trading signals so that you can analyze market conditions better in order to make smarter investment decisions faster than ever before.
The intuitive user interface makes it simple for beginners and experts alike to find what they’re looking for when navigating the site. Plus, the support team is always ready to assist if any questions arise during your journey through FXTM’s world of forex trading!
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Trading Platforms
FXTM is widely known for its reliable and user-friendly trading platforms. The online brokerage offers a variety of different trading platforms, each tailored to the needs of traders with different experience levels and financial goals. Whether you’re a beginner or an experienced trader, FXTM has something for everyone.
The fxtm platform provides access to hundreds of markets across the globe, allowing users to trade in Forex, commodities, stocks and indices from one convenient interface. With advanced charting tools and automated trading capabilities, this platform makes it easy to monitor your portfolio and make informed decisions quickly. It also features multiple order types, including market orders, limit orders and stop loss orders. This gives users greater control over their trades by providing them with more options for entering and exiting positions.
FXTM’s versatile selection of trading platforms allows all kinds of traders to find what they need easily and effectively. From powerful technical analysis tools available on MetaTrader 4 (MT4) to the innovative mobile app that lets you take your trading wherever you go – no matter which platform you use, FXTM guarantees a secure environment where you can feel confident about your investments.
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Account Types
Having discussed trading platforms, it’s now time to turn our attention to account types. FXTM offers several different options for traders who want to tailor their experience according to their individual needs. Depending on the type of trading you’re looking for – whether it be Forex, CFD or other trading options – there is an account that fits your requirements.
| Account type | Standard Account | Cent Account | Stock CFDs Account |
|---|---|---|---|
| URL | Live Demo | Live Demo | Live More |
| Trading Platforms | MT4 / MT5 | MetaTrader 4 | MetaTrader 4 |
| Account Currency | USD / EUR / GBP / NGN | US Cent / EU Cent / GBP Pence / NGN kobo | USD / EUR / GBP / NGN |
| Leverage / Margin requirements | Floating from 1:2000 | Fixed from 1:1000 – 1:25 (FX), 1:500 -1:25 (Spot Metals) | Fixed leverage 1:10 for US Shares and 1:3 for European Shares |
| Maximum deposit | No | No | No |
| Minimum deposit | $/€/£ 100, ₦40,000 | $/€/£ 10 / ₦2 000 | $/€/£ 100, ₦40,000 |
| Commission | No | Zero | No |
| Order execution | Instant Execution | Instant Execution | Instant Execution |
| Spread | From 1.3 | From 1.5 | From 0.1 |
| Margin Call | 40% | 60% | 40% |
| Stop Out | 20% | 40% | 20% |
| Swap-Free | MT4: Yes MT5: No | Yes | Yes |
| Limit & Stop Levels | 1 spread | 1 spread | 1 spread |
| Pricing | MT4:5 decimals for FX (3 on JPY pairs), Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD MT5: 5 decimals for FX (3 on JPY pairs), Spot Metals: 2 decimals for XAUUSD and 3 decimals for XAGUSD | Zero commission & tight spreads | 2 decimals |
| Trading Instruments | MT4: Majors, Minors, Exotics – 59, Spot Metals – 5, Spot CFDs -14 , MT5: Majors, Minors, Exotics – 33, Spot Metals – 2 | FX Metals Commodities | 120+ US Shares 40+ European Shares |
| Contract specification | |||
| Minimum Volume in Lots per Trade | 0.01 | 0.01 | 0.01 |
| Step Lot | 0.01 | 0.01 | 0.01 |
| Maximum Volume in Lots per Trade | 30 | 1 | 10 |
| Maximum Number of Orders | 100 | 300 | 100 |
| Maximum Volume in Lots of Orders | 200 | 10 | 20 |
| Maximum Number of Pending Orders | 100 | 100 | 100 |
The first step in choosing an appropriate account type is deciding which asset class(es) best suit your investment goals and risk-profile. For example, if you are a beginner trader with limited capital but want to gain exposure to global markets, then the Cent Account may be ideal for you as it allows smaller trades with lower minimum deposits and spreads starting from 0 pips! Alternatively, if you have more significant funds available and wish to explore higher leverage levels, then the Standard Account might meet your needs better.
No matter what kind of trader you are, FXTM has multiple account types designed specifically for various trade styles and strategies. With each offering its own set of features such as low fees, tight spreads, negative balance protection and more – selecting an account can help take your trading journey even further by providing access to all the tools needed to become successful in this market!
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Fees & Commissions
FXTM is a reliable broker that offers competitive fees and commissions for its traders. It has a very straightforward pricing structure, which makes it easy to understand what you will be paying in trading costs.
| US stock charges on Advantage and Advantage Plus MT5 | ||
|---|---|---|
| Type | Commission | Charged by |
| US Stock commission | $0/trade | N/A |
| Platform usage | $0/trade | N/A |
| Collection of dividend tax | 30% X Dividend (automatic withholding on distribution) | IRS, USA |
| Live pricing data fee | Free live pricing | N/A |
| HK stock charges on Advantage and Advantage Plus MT5 | ||
|---|---|---|
| Type | Fees | Charged by |
| HK Stock commission | 0.05%/national trade* | FXTM |
| Platform usage | $ 0/trade | N/A |
| Stamp duty | 0.1%/national trade | HK Government |
| HKSFC Trade Levy | 0.0027%/national trade | HK SFC |
| HKEX Trading Fees | 0.005%/national trade | HKEX |
| Settlement fee | 0.002%/national trade | HK Clearing house |
| Exchange fee | 0.008%/national trade | HKEX |
| Collection of dividend tax | $ 0/trade | N/A |
| Live pricing fee | $120/month live pricing subscription | |
The commission fees at FXTM are quite low compared to other brokers in the industry. The spread starts from 0 pips on major currency pairs, and goes up depending on your account type. For deposits, there are no fees charged by FXTM as long as you use one of their accepted payment methods. Withdrawal fees are also reasonable; they start from $5 per transaction.
Overall, FXTM provides an affordable option when it comes to fees and commissions:
Commission Fees: Low
Trading Costs: Starting From 0 Pips
Withdrawal Fees: Starting From $5 Per Transaction
Deposit Fees: No Fees Charged By FXTM
We can conclude that FXTM presents an attractive proposition for traders looking for competitive fee structures without any hidden charges or surprises.
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Customer Support Services
FXTM has some of the best customer support services on the market. Their help desk is available 24/7 and they provide assistance services in more than 12 languages. This allows clients to get timely and accurate answers to their questions, regardless of time or language barriers. Additionally, FXTM provides training materials and educational webinars that are easy to understand even for beginner traders.
Customer service at FXTM goes beyond just answering queries; they also offer account management services for professional traders who need a personalized approach when trading. They have an experienced team ready to help with any issue related to forex trading, from technical problems to risk management advice.
The customer support team at FXTM prides itself in providing prompt response times and reliable answers to all its clients. It’s clear that this broker puts customers’ needs first as it strives towards providing a secure and comfortable trading environment for everyone.
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Security & Regulation
When it comes to trading in the Forex markets, security and regulation are paramount. FXTM has long been a leader in this regard, ensuring that its clients’ funds remain protected at all costs. FXTM is regulated by several of the world’s leading financial authorities, including:
CySEC – Cyprus Securities & Exchange Commission
FCA – Financial Conduct Authority (UK)
ASIC – Australian Securities & Investments Commission
IFSC – International Financial Services Commission (Belize)
These regulators impose strict standards on brokers such as FXTM which must be upheld in order for them to retain their licenses. This ensures that trader funds are always kept safe and secure. As part of its commitment to providing customers with a fully compliant service, FXTM provides segregated accounts for client funds, so money can never become commingled with company finances. What’s more, any money deposited into an account is held securely in tier-1 banks or EU-regulated payment processors – further enhancing their trustworthiness and safety credentials.
FXTM also operates under strict anti-money laundering regulations; meaning your identity will have to be verified before you can make any withdrawals from your account. All these measures ensure that traders can rest easy knowing that their personal data and finances are being managed responsibly by a highly reliable broker.
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Education Resources
Having discussed the security and regulations of FXTM, it is now time to explore their education resources. FXTM offers a comprehensive range of educational tools for traders looking to improve their forex trading skills. From interactive tutorials and videos, to webinars and seminars, they have an array of learning materials available to help both beginner and experienced traders gain greater insight into the markets.
In addition, FXTM’s library contains various trading resources such as eBooks and Trading Guides that provide in-depth analysis on key topics like risk management strategies, technical indicators, chart patterns, market psychology and more. These educational guides are designed to be easily accessible by all levels of traders so they can take full advantage of these valuable insights.
For those who want even more hands-on experience with FXTM’s platforms and products, the broker also provides personalized one-on-one support from expert advisors who offer tailored guidance based on individual needs. This personal touch helps ensure each trader has the necessary knowledge to make informed decisions when engaging in online currency trading.
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Final Thoughts
After conducting a thorough review of FXTM, it is clear that this online broker has become one of the leading providers in terms of fx trading and investment options. They provide their traders with access to the latest technology, competitive pricing, and exceptional customer service. As such, they have earned a reputation as being one of the most reliable online brokers available today.
In conclusion, we can confidently recommend FXTM for those looking for trustworthy and high-quality forex trading services. Whether you’re an experienced trader or just starting out, there’s something here for everyone. With numerous features suited to both beginner and advanced traders alike, FXTM provides everything needed to succeed in the world of finance.
FXTM offers plenty of benefits and opportunities for its clients. Their commitment to transparency and excellent customer support make them stand out from other trading reviews. We highly recommend giving them a try if you’re looking for a reliable provider who will help you build your financial portfolio.
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Conclusion
In conclusion, FXTM is an excellent broker for traders of all levels. They offer a wide range of features and benefits, including multiple trading platforms, account types to meet different needs, competitive fees and commissions, strong security and regulation measures, as well as varied education resources. All these make it easy to see why FXTM has become one of the most popular forex brokers in 2020.
Overall, I’d recommend FXTM for anyone looking for a reliable online trading platform. The company offers numerous advantages that can help you maximize your profits while minimizing your risks. As we look ahead to 2023, there’s no doubt that this broker will continue to be among the best choices available on the market.
If you’re in search of a reputable and dependable brokerage with which to start or expand your trading activities over the next few years, then FXTM should definitely be at the top of your list!