If you have an interest in the forex market, choosing a broker is one of the most important decisions you’ll make. You want a platform that’s easy to use, affordable, and offers you enough educational resources so you can actually learn the ropes.
One broker worth checking out is FXTM. They’re a global leader in forex trading and have been helping new traders find their footing since 2011. Whether you’re a novice forex trader or have a bit of experience under your belt, FXTM is a broker worth your consideration.
In this article, we’ll try to share everything that FXTM has to offer—from their trading platforms and fee structures to customer service and regulation. Read on to learn more about this platform.
What Is FXTM and How It Operates
So what exactly is FXTM and how do they operate? FXTM, or ForexTime, is an international forex broker that provides trading services to clients around the globe.
FXTM allows you to trade forex, commodities, stocks, and indices on their proprietary trading platforms or third-party platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They offer competitive spreads, fast execution speeds, and flexible leverage up to 1:1000.
To get started, you’ll need to open an account and deposit funds. FXTM accepts many payment methods including bank wire, credit/debit cards, and e-wallets like Skrill and Neteller. Once your account is funded, you can access FXTM’s web-based platforms or download their desktop and mobile apps to place trades on the go.
FXTM values transparency, innovation, and passion. They are regulated by several top-tier authorities, including the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). This means your money and personal data will be safeguarded at all times.
Overall, FXTM is a reputable, global broker with competitive trading conditions, advanced platforms, and excellent customer service. Whether you’re a beginner or a professional trader, FXTM has resources and features to help you succeed in the forex market. Why not give them a try? You may just find your new favorite broker!
Trading Platforms, Instruments, and Spreads Offered by FXTM
FXTM offers two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are available as desktop applications as well as mobile apps for iOS and Android devices.
MT4 is FXTM’s most popular platform. It offers access to over 50 currency pairs and spot metals, as well as CFDs on stocks, commodities, and indices. You’ll find advanced charting tools, indicators, and automated trading options to help you analyze the market and place trades.
MT5 is geared more toward advanced traders. It provides access to all the same markets as MT4 plus more, including CFDs on ETFs, futures, and options. The platform also allows you to trade from multiple accounts simultaneously and boasts an improved backtesting environment for expert advisors.
Spreads at FXTM are variable and start from 1.5 pips on major currency pairs like EUR/USD. The spread you pay will depend on factors like market conditions, liquidity, and account type. In general, you can expect competitive spreads, especially if you open an ECN account. ECN spreads start at 0 pips and provide direct access to liquidity providers.
Overall, FXTM provides a solid selection of user-friendly platforms, instruments, and competitive spreads to suit any trader’s needs. Beginners can start with MT4 and a standard account, while pros may prefer MT5 and an ECN account for tighter spreads and more advanced tools. The choice is yours!
Pros and Cons of Using FXTM
Now that you understand the basics of FXTM, it’s important to consider the pros and cons before diving in. So, keep reading:
Pros
FXTM offers ultra-competitive spreads and commissions on forex and CFD trading. They are a regulated broker, so your funds are secure. You’ll also find a wide range of account types to suit any trader, from beginner to pro.
The educational resources and tools on FXTM are exceptional. You have access to webinars, video tutorials, articles, and an economic calendar to help guide your trading decisions. For newbies, the demo account is a great way to practice strategies before putting real money on the line.
Customer service is available 24/5 via live chat, email, or phone. The support team is very knowledgeable about the platform and products.
Cons
Although FXTM is regulated, they are not regulated in some major markets like the US and UK. Some traders may prefer a broker with more global regulation.
The product portfolio is somewhat limited compared to other brokers. You’ll find forex, commodities, stocks, and indices but no options or bonds.
Withdrawal fees can be expensive depending on your account type and method. It’s best to check the latest fee schedule on the FXTM website for details.
Final Thought
FXTM seems to offer a lot for traders of all experience levels with competitive fees, a wide range of tradable assets, and strong regulation. Their easy-to-use platforms, educational resources, and customer support should provide you with all the tools and help you need to become a successful trader.
Of course, no broker is perfect, so make sure you understand the potential downsides like the risk of trading with leverage. But if you’re looking for a reputable broker to get started with or switch to, FXTM deserves your consideration.
