FXTM Review 2024 Trade with an award-winning forex broker

To evaluate brokers, we test the accounts, trading tools and services provided. Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.

How much does FXTM charge for withdrawal?

Additionally, FXTM does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. In addition to MetaTrader, FXTM has its own FXTM Trader App, available for download on devices with Android and iOS. With over 250+ products to trade, the FXTM Trader App keeps the markets at your fingertips. MetaTrader 5, sometimes known as MT5, is MetaQuotes Software’s latest and most powerful online trading platform. Trading on MT5 with FXTM provides you with even more access to financial markets, including foreign exchange, commodities, indices, stocks, and futures. Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms.

All accounts have an accessible minimum deposit of $/€/£200 and support USD/EUR/GBP base currencies. I want to point out that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy. FXTM will return funds to the payment processors used for deposits, and it appears that traders must withdraw profits exceeding them via bank wire only, which is expensive. Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. FXTM’s diverse promotions and contests provide traders with exciting opportunities to enhance their trading experience.

The customer service team offers support in 18 languages, is available 24/5 and there is also personalised support from an Account Service Manager. Contact is via email and phone, plus live chat, alongside other media channels. It would, however, be good to be able to make contact at the weekend too. Financial markets and trading education is an area in which FXTM provides a robust and diverse experience for their clients. You will be charged $5 per month after six months of inactivity and most withdrawal methods also have a fee.

🛡️Regulated and trusted by the FSC (Mauritius) and the Capital Markets Authority of Kenya.🛡️2800 new traders chose this broker in the last 90 days.🛡️Available for global Traders. I have been using this broker for about five years and I can say so far they have been fantastic. Their customer service is top notch and they are very responsive and ready to help at anytime. These resources make FXTM one of the most beginner-friendly brokers in terms of education. The app is designed to simplify trading for beginners, ensuring they can trade confidently even while on the move.

1. Then worked with me and the Backoffice relentlessy to get things resolved.
2. The lack of support for MetaTrader 5 is definitely a mark against FXTM’s overall platform provision.
3. Covering a broad range of markets, this offering can be considered more than sufficient compared to other major brokers in the industry.
4. We learned that the broker provides tight spreads from 0.1 pips, low deposit requirements, and good educational materials.
5. One option FXTM might explore is cTrader, a platform I really enjoy using for its intuitive interface and advanced charting tools.
6. A slight variation that FXTM features are the addition of a live news feed from FXStreet.
7. They simplify the trading process, allowing me to focus on my strategies.

Platform tutorial videos – There are various tutorial videos on how to use the MT4 trading platform. There are the usual global stock indices, but only 11 to choose from and for individual stocks, there 173 US and European stock CFDs, which is far from an exhaustive list. On the individual stock side, there are 50 European stock CFDs and 123 from the US, which again is far from a comprehensive offering. FXTM lets you trade commodity CFDs on instruments such as oil and gas, giving you the chance to diversify your portfolio without having to own the product. This gives you the ability to choose instruments of this asset class from around the world.

What are the average withdrawal processing times?

The minimum deposit here starts from just $10 or 10,000 NGN which makes it extremely accessible to traders. As a copy trader, you will also be glad to find the FXTM proprietary copy trading platform available. Conversely, some brokers like EagleFX and Plus500 offer 24/7 support, allowing traders to access help around the clock. This can be crucial for day traders who need immediate assistance during fast market movements. For example, Exness uses live feeds from the active FXStreet, and IG offers a unique video channel that broadcasts live sessions thrice daily.

FXTM processes most withdrawals within 24 hours, but it may take up to five business days for clients to receive their funds, dependent on the payment processor. Most online payment processors will credit accounts instantly after FXTM has completed the withdrawal. As a regulated broker, account verification at Forextime is a mandatory final step.

FXTM Trading Hours (GMT+

FXTM is a well-rounded broker suitable for both beginners and experienced traders. Their variety of account types, educational resources, and user-friendly platforms make them a good starting point for new forex traders. Seasoned traders will appreciate the tight spreads and advanced tools offered by the ECN Account. The broker provides traders you with convenient access to trade the markets, including CFDs on forex, stocks, cryptos and commodities. I found them to have a good selection of trading instruments to choose from. FXTM’s account offerings present a clear and structured approach to trading, accommodating a range of preferences with a low minimum deposit.

MetaTrader lacks robust research content within the platform itself, which is crucial for staying on top of market news. However, news traders can take advantage of FXTM’s economic calendar, fast execution speeds (sub-50 ms), and robust in-house research materials. 1-click trading and fast execution speeds enable scalpers to be nimble in the market. The depth-of-market (DOM) available in MT5 gives scalpers valuable insight into where supply and demand are strong or weak.

1. 1-click trading and fast execution speeds enable scalpers to be nimble in the market.
2. There live chat feature, plus you can contact the ream vias popular channels such as WhatsApp, Telegram, Viber and Facebook Messenger.
3. If you just want to check prices and manage trades, MT4 will do the job.
4. The broker also offers reliable support and solid educational materials.
5. FXTM lets you trade commodity CFDs on instruments such as oil and gas, giving you the chance to diversify your portfolio without having to own the product.
6. FXTM is an award-winning broker that prioritises customer education while providing a diverse range of trading accounts and financing options to accommodate a variety of clients.

Therefore, this broker can be suitable for all types of trading strategies, including scalping. RoboForex also provide zero pip spreads and charge a similar commission fee. The advantage they have is that they offer over 12,000 financial instruments. FXTM is authorised and regulated by some top-tier regulatory bodies in the UK, Cyprus and South Africa.

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on https://traderoom.info/fxtm-what-a-trader-is-in-for/ the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. FXTM offers traders a commission-free and commission-based Forex account.

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. Most impressively, Exinity UK Ltd offers a compensation scheme that protects up to $1 million of a client’s funds if FXTM becomes insolvent. FXTM is legal, complies with four regulators, and has a clean track record. FXTM established itself among the most trusted Forex brokers industry-wide. FXTM does not charge internal fees, but third-party payment processor costs may apply.