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. Rather than using real cash, you can start practicing trades with a risk-free virtual account. This is a great way to get a good understanding of how the ForexTime FXTM trading system works. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

Are commissions charged on trades with FXTM?

This should provide customers with plenty of protection and demonstrates that the company is run in a transparent and accountable manner. FXTM also provides live chat on its website or via WhatsApp, Telegram, or Messenger. Since the product and services portfolio at FXTM remains well-explained, I doubt most traders will require assistance.

What Broker is Superior For Australian Forex Traders?

  1. If you require more tools along with powerful customization you better choose the Desktop version.
  2. Due to their deep product offering, competitive dealing spreads via their ECN/STP model, and ultra-fast execution capabilities, FXTM has rapidly risen to among the top brokers in the FX industry.
  3. All necessary and useful tools are also included in the package, from risk management to analysis, as well as a uniquely developed trading tool like – Pivot points strategy and trading signals.
  4. In addition, FXCM provides a list of international free call numbers for its clients.
  5. Then enter the necessary details, and provide the amount you wish to deposit.

Traders can choose between USD, EUR & GBP Account Currency options. But you can deposit in South African Rand (ZAR), which will be converted to your account’s base currency according to conversion based on the latest exchange rates. There are 3 types of standard accounts that FXTM offers – Standard, Cent and https://forexhero.info/ Shares Accounts. When it comes to withdrawal options, FXCM will not charge any withdrawal fees for Debit/Credit Cards and E-wallets. However, it will apply a fee of up to $40 for withdrawals via bank wire transfer. The fees will depend on the base account currency and the location of the target bank account.

Regulated by Multiple Financial Authorities Including CySEC

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. FXTM leverage is determined by various measures and firstly set according to the regulatory requirement in one region or another. And then is also based on the trader’s experience and knowledge, so always check with the customer support team first which one is applicable to you. Many investors have multiple trading accounts, depending on the brokers services.

There are only four major cryptocurrencies available to trade with FXTM, all against the USD. These are Bitcoin, Ethereum, Ripple, and Litecoin and all are traded as CFDs. As highlighted above there are the typical global averages, but only 11 to trade.

A demo account is available at FXTM, and I did not find a time restriction. Forex demo account is available for MT4 and MT5 and allows traders to select the demo fxtm forex broker review account balance and leverage. While no demo account can simulate live trading conditions, the options available at FXTM come as close as possible to doing so.

The bottom line is that FXCM and FXTM bear several similarities, more or less being regulated in the same jurisdiction and offering fund protection along with NBP policy. In the end, the decision to open an account with FXCM or FXTM comes down to your personal preference and trading needs. In case of an unexpected market occurrence that results in a negative balance, the broker will not request the respective amount from its clients and will bring their account balance back to zero. At the same time, since FXTM is a member of the Cyprus Investor Compensation Fund, its clients will be compensated in the event of FXTM’s insolvency. There are webinars, seminars, platform tutorials, trading tools, research tools, a superb glossary, Forex news, Economic Calendar, Market outlooks, and Analyst analysis all remaining at your disposal. There are established centers in the Asia region including Indonesia, Malaysia, Thailand, and China, as well as Africa region, Europe, and more, so it is true to state that FXTM covers the global needs of traders.

For algorithmic traders seeking to improve their automated trading systems, MT5’s multi-threaded strategy tester is perfectly suited. Furthermore, traders can trade with lowered spreads for EUR/USD at 1.5 pips, and commission-free trades are offered. They tried to lower entrance barriers by offering instructional tools, a wide range of trading assets, and user-friendly platforms like MetaTrader 4 and MetaTrader 5. There’s a lot to offer here for casual and first-time traders thanks to a large backlog of trading guides and a fully-featured mobile app that lets you modify your positions on the go. 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 Metatrader based broker, FXTM offers both MT4 and MT5 mobile apps that are compatible with iOS and Android devices. FXTM also has their own app which traders can download, but their mobile app can only be used for account administration purposes. Traders must use the Metatrader apps for engaging in actual trade related activities. When you switch to FXTM from your current broker you are eligible to receive $ 4 cash back for every lot traded. In addition to the Rebate program, FXTM also offers a Refer a Friend program which rewards traders for referring their friends or family to sign up with FXTM.