ForexTime FXTM review: Could this be the best forex trading tool?

fxtm broker reviews

MT4 is available for PC and Mac, with desktop of web-based versions. The lack of support for MetaTrader 5 is definitely a mark against FXTM’s overall platform provision. The demo account features live quotes and simulates live market conditions in assets like forex, commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch to a live version. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage.

Are there risks associated with high-leverage trading at FXTM?, registered with the Commodity Futures Trading Commission (CFTC), lets you trade a wide range of forex markets with low pricing and fast, quality execution on every trade. In addition to the downloadable MetaTrader platforms, FXTM offers the MT4&5 web-based platform called WebTrader. This platform lets you access your FXTM account from any computer connected to the Internet without the need to download any software.

  1. FXTM also advertises it to institutional traders and hedge funds.
  2. With this feature, traders can hold a substantial position in the market while investing only a small amount of their own money.
  3. FXTM offers clients the opportunity to trade over 250 financial instruments, all from MT4/MT5.

Fees, Spreads, and, Commissions

New traders or those simply looking to learn new methodologies are well catered for, with a multitude of tutorials and articles throughout the website. Experienced traders, on the other hand, have access to some of the brightest economic minds in the game. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. We’re super happy to know that you’re enjoying your Trading Experience with FXTM. It’s our aim to make sure our clients enjoy a hassle-free experience with us. Whatever kind of trader you are, you can be confident that FXTM is a safe way to make foreign exchange trades.

Keeps eating your funds in the name of Inactivity Fee

FXTM is a Metatrader only broker and supports the full line of platforms from the developer MetaQuotes Software Corp. Auto trading features are available at FXTM with the use of Expert Advisors within the MT4 platform. EAs allow traders to program and automate their strategies to run on the Metatrader platform. Yes, traders can request leverage changes by contacting FXTM customer care, subject to approval.

fxtm broker reviews

FXTM Account Types

Furthermore, given the stature of FXTM in the broking industry, the absence of even a white labelled, in house trading platform is somewhat disappointing. For the ECN account the minimum is a far more competitive 0.1 pips with typical 0.3 pips, but there is also a $2 per lot commission to factor in as well. With regard to fees from FXTM, there are varying fees dependent on the type of trading account that you decide to open.

FXTM Mobile App

They also maintain branch offices in many global centers around the world including London. FXTM is dedicated to full transparency and they keep to this philosophy by publishing numerous stats related to their business on their website. This includes such data as speed of execution, slippage, and re-quote levels.

FXTM complies with five regulators, is a member of the Hong Kong-based Financial Commission, publishes audited performance reports, and has a clean operational record spanning twelve years. Therefore, traders should consider FXTM among the most-trusted brokers industry-wide. As a regulated broker, account verification at Forextime is a mandatory final step.

fxtm broker reviews

Overall, the FXTM pro account has lower spreads, more liquidity and faster execution speeds. Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers. The professional account does require a minimum account balance of $25,000 is maintained to qualify. Suitable for active day traders, clients can trade 250+ instruments 24/5. Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. Good broker, good execution, tight spreads, easy and quick deposit and withdrawal process, many payment options.

Meanwhile, the Share accounts allow you to trade in European and US shares and have a reduced minimum spread value of 0.1, compared to 1.3 for Standard accounts and 1.5 for Cent accounts. ECN accounts are designed for forex experts and don’t have a maximum number of orders or volume of lots in an order. Trading with an ECN account results in a better rate thanks to a reduced average percentage in point (pip) values but requires a higher minimum deposit amount. FXTM Pro ECN accounts, for example, only offer super low spread values if a balance of 25,000 USD/EUR/GBP is maintained. As you’ll find out in the following ForexTime FXTM review, this app stands out for its quick trades and withdrawals, which are facilitated by the MetaTrader platform.

As highlighted above there are the typical global averages, but only 11 to trade. Video content is focused on a few categories like trading basics and FXTM Invest. Bite-size videos of less than two minutes walk viewers through important concepts like swap fees and how FXTM Invest works. I especially liked the Pivot Point indicator, which shows the daily pivot and three major support and resistance levels. When using the chat feature, a bot answers you first, but you are passed on to a live operator if its answer is insufficient. In my tests, I was usually able to reach a human operator in less than one minute.

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