FXTM REVIEW 2024: COMPREHENSIVE GUIDE FOR TRADERS

FXTM Review

FXTM (ForexTime) is a well-known forex and CFD broker, established in 2011. With its wide range of trading instruments, competitive spreads, and advanced trading platforms, FXTM has positioned itself as a leading broker in the financial market. This review will provide a detailed overview of FXTM's services, features, and regulatory status to help you make an informed decision.

General Risk Warning

Trading forex and CFDs involves significant risk and may not be suitable for all investors. It is important to understand the risks involved, including the potential for loss of your entire investment. Ensure you fully understand the risks before trading and consider seeking independent financial advice if necessary.

FXTM Full Review

FXTM offers a variety of trading instruments, including forex, commodities, indices, and cryptocurrencies. The broker provides access to multiple trading platforms, including MetaTrader 4, MetaTrader 5, and FXTM Trader. FXTM is known for its competitive pricing, fast execution, and excellent customer support.

General Information & First Impressions

FXTM is headquartered in Limassol, Cyprus, and has a global presence with clients from over 150 countries. The broker is regulated by multiple reputable financial authorities, ensuring a high level of trust and security. The first impression of FXTM is positive, with a user-friendly website and a wide range of trading resources available.

FXTM Pros and Cons

Pros:

• Low minimum deposit starting from $10
• Competitive spreads starting from 0.0 pips
• Fast execution speeds
• Multiple advanced trading platforms
• Strong regulatory framework
• Wide range of tradable instruments

Cons:

• Limited educational resources for beginner traders
• Some account types require higher minimum deposits

Who Is FXTM For?

FXTM is ideal for both beginner and experienced traders. Beginners can benefit from the user-friendly platforms and low minimum deposit, while experienced traders will appreciate the competitive spreads, fast execution, and advanced trading tools. The broker’s wide range of instruments makes it suitable for various trading strategies.

Account Types and Benefits

FXTM offers several types of accounts to cater to different trading needs:

FXTM Trading Platforms

FXTM provides access to several advanced trading platforms:

• MetaTrader 4 (MT4): Known for its user-friendly interface and comprehensive charting tools.
• MetaTrader 5 (MT5): Offers additional features and improved performance over MT4.
• FXTM Trader: A mobile trading app offering a seamless trading experience on the go.

FXTM Mobile Trading

FXTM’s mobile trading apps for iOS and Android offer full functionality, allowing traders to manage their accounts, execute trades, and monitor the markets on the go. The mobile apps include all the essential features of the desktop versions, ensuring a seamless trading experience.

FXTM Trading Features

FXTM offers several innovative trading features:

• Social Trading: Allows users to follow and copy trades of successful traders.
• Automated Trading: Supports Expert Advisors (EAs) on MetaTrader 4 and 5.
• Flexible Leverage: Up to 1:2000, depending on the instrument and account type.

FXTM Research & Education

FXTM provides a variety of educational resources, including webinars, seminars, and market analysis. These resources are designed to help traders improve their skills and stay informed about market developments.

FXTM Regulations & Licensing

FXTM operates under multiple regulatory frameworks:

• Financial Conduct Authority (FCA) in the United Kingdom
• Cyprus Securities and Exchange Commission (CySEC)
• Financial Sector Conduct Authority (FSCA) in South Africa

These regulations ensure that FXTM adheres to high standards of financial conduct, client fund protection, and overall transparency in its operations.

FXTM Pricing

FXTM offers competitive pricing with spreads starting from 0.0 pips on Advantage accounts. The broker charges a commission of $3.5 per lot per side on Advantage accounts, while Micro accounts are commission-free with slightly higher spreads.

FXTM Deposits & Withdrawals

FXTM supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. Deposits are generally processed quickly, especially through electronic methods, which typically appear instantly in your trading account. Wire transfers may take a few days to process depending on the origin of the transfer.

Customer Support

FXTM provides customer support 24/5 via live chat, email, and phone. The support team is known for being responsive and helpful, providing assistance with technical issues, account management, and trading inquiries.

FXTM Trading Experience

Overall, FXTM offers a positive trading experience with its robust platforms, competitive pricing, and innovative features. The broker’s low spreads, fast execution speeds, and wide range of instruments make it a popular choice among traders.

FXTM Spreads

FXTM Swap Fees

Available Languages

FXTM’s website and customer support are available in multiple languages, including English, Spanish, French, Chinese, and more, catering to a global clientele.

Charts Available

FXTM provides various types of charts, including line charts, bar charts, and candlestick charts, all accessible through MetaTrader 4, MetaTrader 5, and FXTM Trader.

Order Types

FXTM supports multiple order types:

• Market Order
• Stop Loss
• Trailing Stop
• Limit Order

Order Execution Model

FXTM uses a No Dealing Desk (NDD) execution model, ensuring fast and reliable order execution with minimal intervention.

MetaTrader 4 and 5

FXTM offers both MetaTrader 4 and MetaTrader 5, providing advanced trading tools, automated trading capabilities, and comprehensive charting options.

Islamic Account

FXTM offers Islamic accounts that comply with Sharia law, ensuring no swap fees on overnight positions.

Maximum Leverage by Asset Class

What Can You Trade with FXTM?

FXTM offers a wide range of tradable instruments, including:

• Forex
• Cryptocurrencies
• Commodities
• Indices
• Stocks

Tradable Instruments

Is FXTM a Scam Broker?

FXTM is a well-regulated and established broker with a solid track record. It operates under the regulations of FCA, CySEC, and FSCA, ensuring a high level of security and transparency. These regulatory bodies enforce strict standards for financial transparency, client fund segregation, and overall business conduct, making FXTM a reliable and secure broker for global traders. The broker’s long-standing presence in the industry and positive user reviews further attest to its credibility.

Broker Details

FXTM, established in 2011, has grown to become one of the leading forex and CFD brokers globally. It offers a wide range of trading instruments, including forex, commodities, indices, cryptocurrencies, and stocks. The broker is known for its competitive pricing, fast execution speeds, and advanced trading platforms.

Contact Info

For any inquiries or support, you can contact FXTM via:

• Email: [email protected]
• Phone: +44 203 734 1234
• Live Chat: Available on their website

FXTM vs. eToro

When comparing FXTM to eToro, several key differences stand out:

• Platform: eToro offers a unique social trading platform that allows users to follow and copy the trades of experienced traders, making it a great choice for beginners looking to learn from seasoned professionals. FXTM, on the other hand, offers the MetaTrader 4, MetaTrader 5, and FXTM Trader platforms, which are renowned for their advanced trading tools, comprehensive charting options, and support for automated trading strategies.

• Minimum Deposit: FXTM has a low minimum deposit starting from $10 for its Micro Account, making it accessible to new traders with limited capital. eToro requires a minimum deposit of $200, which might be higher for some beginners but still reasonable given the social trading features offered.

• Spreads and Fees: FXTM offers competitive spreads starting from 0.0 pips on its Advantage Account, with a commission of $3.5 per lot per side. eToro generally has higher spreads, which can be less cost-effective for active traders. However, eToro does not charge commissions on trades, which could be beneficial for certain trading strategies.

• Regulation and Security: Both brokers are well-regulated. FXTM is regulated by FCA, CySEC, and FSCA, providing a high level of security and transparency. eToro is regulated by the FCA, CySEC, and ASIC, also ensuring a secure trading environment.

• Tradable Instruments: Both brokers offer a wide range of tradable instruments, including forex, commodities, indices, stocks, and cryptocurrencies. eToro stands out for its extensive cryptocurrency offerings and the ability to invest in real stocks, which can appeal to traders looking for a diversified portfolio.

FXTM in 2024: What’s New?

In 2024, FXTM continues to enhance its trading platform with new features and tools to improve the trading experience. The broker has introduced additional educational resources, including advanced webinars and interactive courses, to help traders improve their skills and knowledge. FXTM has also expanded its range of tradable instruments, particularly in the cryptocurrency and stock markets, catering to the growing demand for diverse investment options. Additionally, FXTM has optimized its mobile trading app, providing a more seamless and efficient trading experience for users on the go.