Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.
Find out about one of the best trading apps on the market in our ForexTime FXTM review
If you are a more experienced, or high volume trader, then an ECN account type may be the right choice for you. In addition to MetaTrader, the broker also has their own in house FXTM Trader App, available for download on both Android and iOS. The FXTM App allows you to keep the markets at your fingertips with over 250+ instruments to trade. The app is great if you want to keep track of your positions and see what is happening in the markets from your sofa, bed or wherever you are. The website places a heavy emphasis on education and customer care – this is a brand that takes its responsibilities to its customers seriously.
ForexTime FXTM review
Note, spreads are floating therefore may increase during times of high volatility. Hi Amos, FXTM does not currently offer a bonus program with your deposit when founding your account. Your level of regulatory protection depends on your country of residence when you open an account. FXTM have multiple business entities, regulated by multiple financial authorities. When trading on an FXTM Pro Account, you can be assured that you’ll never be re-quoted or charged a commission. Just direct access to deep pools of liquidity with absolutely minimal interference from FXTM.
Micro Account Review
As a scalper, you will be glad to find this type of trading strategy is permitted by FXTM. They not only allow it but provide a great range of tools and features to facilitate detailed charting and more indicators. First off, you will find a quite limited range of assets available to trade, particularly for such a popular broker choice. ForexTime, better known as FXTM, is a well-known forex broker famous worldwide, but especially among African traders. Some of the offered indexes include Dax 30, Dow 30, S&P 500, and so on.
- FXTM offers a wide range of in-depth guides covering practical topics.
- A total of 5 indices are available to be traded as CFDs with the broker.
- Traders may also face third-party processing costs and currency conversion fees.
- At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.
- DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with.
As highlighted above there are the typical global averages, but only 11 to trade. For individual stocks, there 123 US and 50 European stock CFDs, which again is far from an exhaustive list. Market analysis videos and a selection of forex news is also made available in this area. These include Hussein Al Sayed an expert on the MENA area, Lukman Otununga, a macroeconomic events analysis expert, and Han Tan, a SE and Asia Pacific area expert. There are a few other key FXTM products that you may come across during your time with the broker. All of this while on the go through your mobile device and a very easy to use platform.
FXTM Pro ECN accounts, for example, only offer super low spread values if a balance of 25,000 USD/EUR/GBP is maintained. FXTM offers many different types of accounts to cater to the needs of each individual trader. They have Market Maker / Dealing Desk accounts which include the Cents, Standard, and Shares Account. In addition, they offer ECN/STP model accounts which include the ECN Account, ECN Zero Account, ECN MT5 Account, Strategy Account, and Pro Account. In addition to the trading signals available within the Metatrader community, FXTM offers their own auto trading features using FXTM Invest. FXTM Invest features over 750 strategy providers that a trader can follow and copy signals from.
Negative balance protection and FCA’s strict regulation both make FXTM an ideal choice for traders who are looking for a safe trading environment. 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.
Other benefits of MT4 include its powerful security system and multi-device functionality, which enable you to trade with complete confidence and at your convenience. FXTM offers Multi Account fxtm broker review Manager (MAM) on MT4 for easy management and ultimate convenience for traders with multiple accounts. The broker makes the MT4 trading platform available in desktop, web, and mobile versions.
As a copy trader, you will also be glad to find the FXTM proprietary copy trading platform available. The minimum deposit at $10 is also one of the lowest around even though it is higher for the Advantage account types. Not only does the broker offer various trading instruments, but they also prioritise the education of traders and offer tons of educational resources including webinars, eBooks, and seminars. FXTM is dedicated to educating traders and has a comprehensive teaching centre that includes free eBooks, videos, and webinars. They cover a wide range of subjects for traders of all skill levels, such as trading techniques, trading tools, technical analysis, and more. Customize your platform and your day-to-day trading experience using MT4 indicators.
However, a commission fee of $2.0 per lot per side ($4 per round trip) is charged on the Advantage account. FXTM offers zero commissions on the Micro and Advantage Plus accounts. From the https://forexarena.net/ table above, the spreads offered by FXTM MT4 Accounts are quite higher than those offered by the big names in the industry — for example, IC Markets, IG Markets, and Fusion Markets.
The Orders Indicator is a simple tool that allows you to track your own transactions as well as examine the activity of others. It displays your transactions on the chart, indicating where the trade was started and closed, as well as whether or not a profit or loss was made (shown in currency & in pips). With so many different definitions for traders to learn, FXTM have compiled a vast glossary of terms and definitions that is freely available on their website. As per the name, the company values time as the most precious commodity above all. With every decision that they make, they put great emphasis on efficiency for their clients, operating with clarity, simplicity and transparency. Client needs come first, with helpful, skilled and multi-lingual support, always on hand to assist you every step of the way.
The strong language support follows through here too with all of the same languages available for customer service as on the website. It has taken the best trading platform around, and advanced it even further. It is also an extremely robust platform which can run on almost any machine.Swap free trading with FXTM is made available through this trading platform. If you do not have enough money in your account to cover the fee, then the broker reserves the right to close your account.
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