All of this while on the go through your mobile device and a very easy to use platform. Again the platform functions through Windows, MAC, iOS, and Android where needed. MT5 with FXTM is available only if you have an ECN account and it still may not be available in some countries. Actually, FXTM provides a free VPS service of its own if you meet certain trading requirements. When it comes to trading techniques that are allowed, both scalping and hedging are permitted at FXTM. The broker also facilitates margin calls to help you maintain and manage your equity.
The broker establishes its core on reliable conditions and detailed education and brings trading across the world with its accessible trading globe, regardless of the trader’s knowledge. FXTM or Forex Time has been named as one of the world’s fastest-growing and best Forex and CFD brokers, with a large number of clients and quality offerings overall. Between 74–89% of retail investor accounts lose money when trading CFDs.
Compare Trading Instruments
We built the website to assist forex traders in finding the right forex brokers to trade with ease. The broker facilitates the trading of over 1,000 forex, CFDs, and real US stocks on its MT4, MT5, and FXTM trader platforms. FXTM offers a variety of robust and user-friendly trading platforms to meet the needs of all types of traders. FXTM keeps swap rates relatively low, particularly for its commission-based accounts, which helps reduce the impact of these fees on longer-term trades. For traders seeking the lowest costs, the commission-based accounts remain the most competitive option in FXTM’s offering. For traders using the commission-based Advantage account, spreads can start as low as 0.0 pips, with a commission ranging from $0.80 to $4.00 per round lot, making it one of the best pricing environments available.
TradingView is increasingly popular among traders for its extensive charting capabilities and a wide range of technical indicators, allowing users to perform in-depth market analysis. MT5 is an upgrade from MT4 and includes additional features such as more timeframes, an expanded set of technical indicators, and support for trading in various asset classes beyond forex, including stocks and commodities. MT4 also offers features like price alerts, customizable watchlists, one-click trading for swift order execution, and the ability to trade directly from charts, enhancing trading efficiency. For beginners, I’m slightly disappointed with FXTM’s minimum deposit of $200, especially compared to other brokers like Deriv and XM, which have just $5 minimum deposit requirements. FXTM’s fee structure is generally competitive, especially since its spreads have been lowered, though it varies by account type, making it suitable for different trading needs.
Write a review
- Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website.
- FXTM offers 16 payment processors, ensuring many localized options for its core markets.
- Overall, FXTM’s education section is an excellent resource for new traders, and much of it is available for free.
- Finally, let us compare FXTM Advantage Plus Account average spreads with those other major brokerages offered on the three most actively traded Forex pairs.
- With FXTM, you can trade silver or gold, doing so against up to three currencies.
FXTM supports the renowned MetaTrader 4 and MetaTrader 5, available for desktop, web, and mobile trading. FXTM does not impose a handling fee on deposits and withdrawals, though third-party processing fees may apply. The only exception was share CFDs, where the broker offered notably tight spreads.
Is FXTM Legit and Safe?
If you also want to get copied then you can earn a commission for every follower who copies your trades. This is available to all traders and you can start to copy successful traders with as little FXTM Broker Review as $100. FXTM Invest is a type of copy trading service provided by the broker.
fees and commissions
Traders can contact support via live chat, email or phone, with live chat being the quickest way to receive assistance. Withdrawals can be made using the same methods as deposits, including credit/debit cards, e-wallets, and bank wire transfers. Opening an account with FXTM is a straightforward process designed to get you started with minimal hassle. FXTM uses SSL encryption to protect personal and financial data, ensuring that all client transactions are securely processed. The broker’s commitment to security is evident through its implementation of advanced encryption technologies to safeguard sensitive information and prevent unauthorised access.
Spreads in these accounts tend to be higher, sometimes double compared to commission-based offers, and FXTM follows this trend. The Advantage Plus account, which is commission-free, has spreads starting at 1.5 pips, resulting in a higher trading cost compared to the commission-based option. The commission-free accounts tend to be more expensive due to higher spreads, while the commission-based accounts stand out as one of the most cost-effective in the industry. Additional features of the FXTM Pro Account include account base currencies in USD, EUR, and GBP, with NGN accounts available for Nigerian traders. This competitive spread structure allows FXTM to earn revenue from trading volume, making it one of the best offers for professional traders in the industry.
Customer Reviews
- Advantage Plus, on the other hand, is perfect for traders who are unwilling to pay commissions and prefer spreads to be their main trading cost.
- With a minimum deposit of $200, traders can benefit from long-term cost savings through reduced trading costs, making it an excellent choice for frequent traders looking to enhance profitability.
- It’s always a good idea to check the latest information on the FXTM website or contact their customer support for any specific queries.
- Our FTXM reviewers were happy to find that the broker provides access to MT 4 on Mac, PC, and both iOS and Android mobile devices and tablets.
I really liked FXTM’s high-quality market research, including insights from Acuity, and advanced analytics via the Pro Trading Tools plugin on MetaTrader. Moreover, FXTM has “Boots on the Ground” in 🇲🇺 Mauritius and 🇰🇪 Kenya, offering support via local offices. Indian trading forums showed divided opinions – some users report smooth transactions, while others warn that most complaints are related to delayed or denied withdrawals. However, it noted cons such as withdrawal fees, inactivity fees, and limited educational tools. One trader said, “I’ve been with ForexTime for a while… since a new strategy, I’m slowly climbing towards profits,” suggesting mixed but legitimate experiences.
Despite the prompt submission of documents for identity verification and proof of address, verification was placed on hold, requiring a support ticket where the agent asked for further information on professional status. The account sign-up process for this review was delayed because the UK auditor needed to provide additional information. Local currency deposits are also facilitated for various countries, depending on the payment methods available locally. FXTM accepts deposits and withdrawals in major currencies like USD, EUR, and GBP. The FSC oversees financial services in Mauritius without a tier classification. MetaTrader 4 (MT4), MetaTrader 5 (MT5), FXTM Trader App FXTM’s proprietary mobile trading app for trading on the go, WebTrader (MT4 and MT5).
Submit Your Own Review of FXTM
Once your account is set up and funded, you’re ready to start trading. For instance, in India, users can deposit and withdraw funds in INR with no commission and a processing time of 24 hours. It offers a maximum €20,000 protection but it is not a certain guarantee, and not all clients are eligible as not the entire client base is covered. Opening a FXTM Demo account is a straightforward process that allows you to practice trading in a risk-free environment.
Spreads range from 1.6 pips (standard accounts) to 0.1 pips (ECN accounts) and you can trade 24/5. The broker keeps thriving in the world of forex trading and has won the award for the Best Trading Experience at the 2020 World Finance Forex Awards. Alpari launched back in 1998, at a time when online forex brokers were more of a curiosity than an industry staple.
FXTM Desktop MetaTrader 4 Platform
While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly. Currency trading on margin involves high risk, and is not suitable for all investors. Once the account shows a cash-only balance, they can withdraw all their money from FXTM. Yes, FXTM offers MT4 and upgrades the core version with six plugins. FXTM does not charge internal fees, but third-party payment processor costs may apply.
FXTM also lacks passive income opportunities, such as interest on uninvested cash, and while it did have its own copy trading feature called ‘FXTM Invest’, that was discontinued in 2024. Currency conversion fees also apply if funds are withdrawn in a different currency, which could affect overall costs. For example, you may be charged a €/£/$3 or ₦ $2,500 fee for any deposit under €/£/$30, and withdrawals to a bank card may also incur a €/£/$3 fee. Processing times are generally quick, with most withdrawals completed within 30 minutes (except bank wire transfers, which can take 3-5 days), and deposits are typically processed instantly. It also supports several local payment methods tailored for regions in Africa, Asia, and the Middle East, such as M-Pesa in Kenya, local bank transfers in Ghana and Nigeria, and TC Pay Wallet in parts of Asia. FXTM could improve transparency by publishing more detailed reports on its financial health and operational practices, including annual audits and compliance checks.
Depositing ease
FXTM also provides demo accounts on MT4, MT5, and the FXTM Trader mobile app. Negative balance protection also guarantees that you cannot lose more than your account balance, even if the market unexpectedly makes a massive move. Reassuringly, all client funds are held in segregated accounts away from the company’s funds in case of solvency.
FXTM is obviously a responsible broker with reliability. Its customer support is impressive and available in over 30 languages. Also, there are other channels you can contact FXTM customer support. You can contact the support of FXTM through phone, email, and live chat.
These accounts have real market conditions and traders can definitely practice and experiment with different trading strategies. But traders outside of Europe and the UK will be onboarded by Exinity Limited, regulated by the FSC Mauritius, which allows brokers to offer their clients higher leverage. Overall, FXTM is a solid option for various traders looking for quality trading execution, there are affordable costs, fast execution through its ECN accounts, and access to popular markets. The FXTM Trader App offers a straightforward, user-friendly interface, enabling traders to easily access their accounts, view real-time market quotes, place orders, and manage positions with just a few taps. The account is good for traders who look at conditions with fees built into commission, the offering is $3.5 per lot traded on FX from 0.0 spreads. However, We always encourage traders to test brokers with a demo account or with a small deposit.
FXTM’s MT4 platform also allows traders to access the multi-terminal feature that is unavailable on MT5. With an inability to seamlessly transfer indicators from MT4 to MT5, many traders prefer to stick to MT4 to continue trading their proven strategy. MetaTrader 4 (MT4) is the tried and tested trading platform that has catapulted forex trading into the mainstream. FXTM is known as a specialist MetaTrader broker, focusing its CFD trading platform offering exclusively on the MT4 and MT5 platforms. If your trading account isn’t well-funded or your volumes are low, FXTM can be quite expensive due to its commission costs.