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FXTM
Characteristics Description
Correct choice of broker is the first step to success
10 min read
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
The Forex industry gains popularity among small investors and private traders. The stock market requires high investments, but the Forex trading market is affordable even to the beginners. The brokers attract new traders with low minimum deposits and opportunity to master trading nuances on the demo accounts. Still, there are many other features that should be taken into account when choosing a platform, especially if you decide to deposit real money. In this article, we will discribe well-known broker — FXTM broker and describe his key characteristics. It will simplify your selection process.
About Broker
ForexTime or FXTM is a well-known international broker that launched its platform in 2011. It provides very attractive trading conditions, complete education and high-quality trading tools in the Forex industry. With its tailor-made products and financial services for each individual market, and with the help of an experienced team of professionals from around the world, FXTM broker has quickly become a globally recognized resource.
Trading Conditions
Minimum deposit
$5
Minimum deal
0.01pips
Platforms
MT4, MT5, MT4 Webtrader, Multiterminal
Currencies
EUR, USD, GBP
Trade profitability
80%
Mobile application
FXTM app
Customer support channels
Phone, live chat, email, social media
Training
Seminars, video tutorials, e-books, beginner guide
Analytics
Video reviews, forecasts, economic calendar, newsfeed
Affiliate program
Yes
Registration Process
According to the FXTM review, the procedure for opening an account with ForexTime is very simple. To do this, you need to go through just a few registration steps and provide identification documents. Your trading account will become available on the same day. The whole process will take a minimum of time and effort. But it is strongly recommended to start with a FXTM demo account.
Platforms
FXTM broker made available several trading platforms to its customers:
- FXTM MT4 is a convenient terminal containing several dozen technical indicators. You can add your own tools. The program is appropriate for automated trading. Besides the version for a personal computer, there are applications for mobile devices (MAC, iPhone / iPad, Android).
- MT5 is a multifunctional platform that provides direct access to liquidity providers through ECN and STP technologies. You will have access to a wide range of analysis and trading tools. Those who wish to trade without limiting themselves outside the office or apartment can download applications for MAC, iPhone / iPad, Android.
- WebTrader is an online service that does not require additional software to work with. It is enough just to have the Internet and a browser. This FXTM trading platform is adapted to all popular operating systems. Simple user-friendly interface, modern and diverse tools.
Account Types
FXTM trading company offers 2 main types of trading accounts on its platforms: Standard and ECN.
In some locations, the standard account has the following subtypes:
As for ECN, the subtypes will be as follows:
- Standard. It is characterized by floating spreads, 1:30 leverage, swap-free accounts, risk hedging options.
- Cent. The conditions do not significantly differ from the standard account, with the only exception — you can make very low "cent" rates. Usually, this option is recommended for beginners right after switching from the FXTM demo version to real money trading.
- Stock CFDs. Basically, this type of account is designed for trading CFD shares. It does not charge commissions, trading is possible without swaps, leverage is up to 1:10.
As for ECN, the subtypes will be as follows:
- FXTM Pro. It is mostly suitable for market professionals. Spreads start from 0, deep liquidity up to level 1 is provided. The account works without commission fees.
- ECN Zero. It allows you to use investment management of funds, there are limited floating spreads, no commission is charged.
- Stocks.
Bonuses
You can access four different bonus categories at FXTM trading platform:
- Friend Bonus: For each client (referral) you bring, a bonus of $25 is credited to the FXTM platform. To get started with this program, you need a referral link.
- 10% to 30% Deposit Bonus: This is a location-based bonus that allows users in Asia, Africa, China and the Middle East and North Africa region to receive an additional 30% bonus on their deposits.
- $30 Bonus: This is a selective cash bonus available only to traders who open and fund their accounts within 6 months.
Mobile Application
Brokerage company FXTM offers mobile trading to potential clients. The existing mobile version of FXTM app allows you to trade with more than 250 instruments. It is a new mobile solution providing lightning-fast trading for iOS or Android. FXTM MT4 download includes unlimited access to MyFXTM as well as cross-platform trading. Its advantage is the absence of additional downloads. There is also the ability to implement trading operations with one click for quick entry into the market.
Funds transfer
Both brokers offer a variety of deposit and withdrawal options. It enables users from many countries to find an appropriate payment method for their location.
Credit cards
MasterCard, Maestro and VISA
E-wallets
Skrill, Neteller, DusuPay, FasaPay, DixiPay, WebMoney, CashU, QiWi, Yandex.Money, PerfectMoney
Local bank transfers
In some countries only
Cryptocurrency
Bitcoin
International wire transfers
Yes
You will find more information about each payment method in your personal account.
Customer Support
FXTM broker review says support is available 24 hours a day on business days. You can get in touch with the operator via several channels shown on the official page:
- By phone: +44 20 3734 1025
- By Skype
- Through a callback
- By email: support@fxtm.com
- Via online chat
Training
New traders at FXTM will appreciate the extensive library of educational resources. It includes e-books, forex trading webinars and glossaries of general terms. FXTM review admits the broker releases weekly market analysis videos filled with expert advice on new trading strategies.
Affiliate Program
ForexTime Company has launched a unique program for partners, which quickly gained high popularity among its users. Thanks to the new product, webmasters, bloggers, social media account holders, SEO specialists and everyone who wants to get additional income can make money on attracting customers for cooperation with the company. Moreover, cooperation with FXMT is possible within the framework of the IB and CPA partnership programs. In the first case, the partner receives remuneration for the transactions of the attracted clients, in the second case, it is revenue for each attracted client who has started trading in the company.
Wrapping Up
ForexTime keep firm positions among the best Forex brokers. This platform are good not only for experienced traders but also for beginners. In today’s trading industry, many brokers tend to appear better than they really are. But ForexTime won’t disappoint you. It allow their users small deposits, enough trading tools, versatile payment and support methods, and efficient training. Still, each trader should realize that binary options trading carries a high degree of risk. It is advisable to approach trading responsively and go through educational materials and training on a free account. It will help you avoid significant losses, including the loss of all funds in the account.
A large number of trading accounts.
FXTM minimum deposit is only $5.
Exotic currency pairs.
The ability to buy shares.
Availability of free full-time and part-time educational courses.
Coverage of the payment system commission for account replenishment.
Fast withdrawal of funds.
FXTM minimum deposit is only $5.
Exotic currency pairs.
The ability to buy shares.
Availability of free full-time and part-time educational courses.
Coverage of the payment system commission for account replenishment.
Fast withdrawal of funds.
PROS:
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Account currencies: only USD / EUR / GBP
Commission on wd: visa, master card, maestro, paypal, yandex money, qiwi
Commission on wd: visa, master card, maestro, paypal, yandex money, qiwi
CONS:
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GENERAL RISK WARNING:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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