FXTM Review – Learning the Ins and Outs of the Broker

FXTM Review

Are you looking for a broker to start trading in the financial markets? There have been numerous success stories of people making it big in these markets at one point or the other, which obviously draws the attention of others. With the global coronavirus pandemic severely affecting traditional forms of investment, the number of people turning towards the financial markets has gone up and this has led to a growing demand for brokers to facilitate them as well. This FXTM review can provide you some insight into one of the leading brokers for frontier and emerging markets.

Also known as ForexTime, FXTM was established in 2011 and is recognized as a global forex and CFD brokerage. It is regulated by a number of financial authorities and is considered a safe option due to its regulatory status. Nonetheless, you still need to know some essential details about FXTM before deciding to open a trading account with them. What are these details? Let’s find out:

Regulation and security 

The regulatory status of any broker is of the utmost importance because it can minimize the risk of fraudulent activities and malpractice. The best thing about FXTM is that it is a fully regulated entity and has a license to operate in numerous jurisdictions. It is regulated by the Financial Conduct Authority (FCA) in the UK, which is one of the top regulators in the world. Other jurisdictions it is regulated in include Mauritius and South Africa. Until March 2011, it was also regulated by the CySEC, but is no longer offering retail trading services in EEA. 

Trading Instruments

When it comes to its asset index, you will find that FXTM gives its clients access to 8 commodities, 63 currency pairs, 1,227 equity CFDs, 17 index CFDs, five stock baskets and 420 US-listed stocks. You will find a limited choice of commodities, cryptocurrencies and index CFDs, but the overall choices are undoubtedly competitive. The tradeable assets are such that they will appeal to a number of stock and forex traders and give them plenty of room to diversify their portfolio as well. 

Account Types

You will find that there are two commission-free trading accounts available at FXTM, which are known as Micro and Advantage Plus. A commission-based option is also available, known as Advantage. You only have to deposit a minimum of $50 for opening a Micro account, whereas the remaining two accounts need a minimum deposit of as much as $500. The commission-based account is also a good choice because the trading costs remain very low, whereas the commission-free accounts have higher fees.

Another advantage of signing up at FXTM is the availability of the demo account, which can give traders the chance to practice their trading strategies and get acquainted with the markets, if they are just starting out. Expert advisors will also enjoy the account because it doesn’t come with a time restriction. You can use the demo account for both the MT4 and the MT5 and you can also choose the leverage and balance you want to have in the account. 

Trading Platforms 

It just wouldn’t be possible for a trader to select a broker without looking at what trading platform they offer. You will have access to the MT4 and the MT5 trading platforms, which are recognized as the best solutions in the market. In addition, you will discover that FXTM has also developed its own mobile app, which is known as FXTM trader and it gives users the chance to trade on the go. It has added six plugins for upgrading the MT4 and has also added its Pivot Points Strategy, which include commentary and live updates from their Head of Education. The FXTM mobile app is easy to use and gives traders an edge with its features.

Ending Thoughts

The transparency and excellent trading costs at FXTM are also worth noting, along with its customer support, all of which make it a great broker for every trader. 

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