FXTM Trading Signals are available in MyFXTM via a technical analysis tool that provides data and assessments of market movements across a range of trading instruments. If you are new to trading and looking for some inspiration, these signals can give you a foundation to work from. However, I wouldn’t take blindly without doing my own additional market analysis for confirmation.
The number of payment methods to fund the trading account will allow you to transfer funds quickly by the use of bank transfers, credit cards, and some electronic wallets. FXTM leverage is determined by various measures and firstly set according to the regulatory requirement in one region or another. And then is also based on the trader’s experience and knowledge, so always check with the customer support team first which one is applicable to you. It is important to note that to access crypto financial instruments, you will need to sign up for an FXTM subsidiary outside of the UK. The UK’s financial authority, the FCA, recently changed regulation banning retail traders from trading cryptocurrencies. FXTM allows clients to trade all the major cryptocurrencies, in the form of CFDs.
- FXTM does not charge any internal fees for deposits or withdrawals.
- I have been with FXTM for about 7 years now, and my experience has been nothing but excellent so far.
- FXTM allows you to trade the most popular major, minor and exotic forex currency pairs, on MT4 and MT5.
- However, for the Micro Account, it uses a market-making model, which means that it matches trades in-house and sometimes becomes the counterparty for the trade.
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. The MetaTrader 4 and 5 mobile applications are available at the Apple and Android app stores. They give traders increased flexibility by allowing trading virtually anywhere and anytime on mobile devices. The apps come with most of the features found on the desktop MT4&5 applications and an extended version is available for tablets. Experienced and high-volume traders will appreciate the benefits of tight dealing spreads and access to an electronic communications network (ECN) account option that allows direct access to the market.
However, payments to and from overseas banking institutions may attract intermediary transfer fees from either party independent of FXTM. FXTM combines a market-making model of trade execution with the ECN execution model. However, for the Micro Account, it uses a market-making model, which means that it matches trades in-house and sometimes becomes the counterparty for the trade. One benefit of this model of execution is that it offers ultra-fast execution speed, as the orders don’t wait for a counterparty order to be executed — the broker becomes the counterparty. Apart from offering real stocks, the broker offers over 100 stock CFDs, and you can even trade fractional shares — for example, 0.3 of one Apple share — as CFDs. Trading CFDs allows you to use leverage to increase your profit potentials.
Top FXTM Features
Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs. It is important to note that between 74-89% of retail investors lose money when trading CFDs. These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. Overall, the FXTM research offering is probably above the industry standard, though we would like to see more regular videos and written content, maybe with a dedicated focus on technical analysis.
- While the excellent trading costs and transparency stand out at FXTM, I also like the proprietary copy trading platform, FXTM Invest.
- Apart from offering real stocks, the broker offers over 100 stock CFDs, and you can even trade fractional shares — for example, 0.3 of one Apple share — as CFDs.
- In terms of trading tools such as charting and indicators, both platforms still excel, offering dozens of options at the click of a button.
- In doing so, we often feature products or services from our partners.
Promotions include, among others, a 30% welcome bonus and access to the FXTM loyalty program with fee discounts and other perks for active investors. Forex is traditionally seen as a risky form of trading, fxtm broker review so making sure that you have the correct skills before beginning to “trade for real” is important. Several other deposit methods are also accepted, including Global Pay, Perfect Money and more.
Trading Platforms
Whether you trade spot metals, energy, or soft commodities, FXTM has a CFD market for you. Whether it’s the main part of your trading strategy or simply used for diversification, take advantage of the volatility in commodities markets with FXTM. The sheer number of CFDs to trade on some of the highest leverage available makes FXTM a clear choice. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. After that, you can finish the account-opening process in your browser or on a mobile device by installing the FXTM Trader app. In total, there are five steps to complete before you can begin trading.
Trading and Investment Tools
Alternatively, the broker has two proprietary platforms; FXTM Invest, a copy trading app, and FXTM Trader, an all-in-one investment app. In terms of trading tools such as charting and indicators, both platforms still excel, offering dozens of options at the click of a button. The web-based platform just lacks a little in terms of news and analysis, but for core trading, it is still highly convenient, concise, and professional in its execution.
It requires a minimum deposit of $25,000 or currency equivalent to open. FXTM earns its revenue from volume in this account type, as spreads will average above 0.2 pips, which remains one of the most competitive offers industry wide. FXTM is a good broker well-known and regulated worldwide, there are numerous regulated entities of FXTM. Account opening is easy, FXTM has one of the lowest deposit requirements and trading conditions are good with low spreads and excellent customer service, and Forex education.
How much does FXTM charge for withdrawal?
If you want to learn how it works start by going through this in-depth guide on forex trading. It requires a minimum initial account deposit of £200 or equivalent. Let’s look at its features to summarize the Best MT4 brokers review. FXTM provides client support 24/5 via live chat, phone, and email. I thinik they could improve by extending support hours to the weekend in order to keep pace with competitors who do. The FXTM Economic Calendar keeps you updated on economic news items, which are supplied in real-time and have a rating upon impact.
The broker does not charge any deposit fee, and a low minimum deposit is a plus point. However, FXTM charges a certain withdrawal fee for most payment methods. Skrill and Neteller are the only payment options that do not carry a withdrawal fee from the broker.
I want to stress once again that commission-free does not necessarily equal cheaper trading costs. Spreads are generally higher, often twice as high, than commission-based offers, and FXTM is no exception. Forex fees are offered by FXTM spread only with no commission in case you use Advantage Plus and Micro Account.
Excellent service
You can take advantage of some advanced tools completely free of charge when trading with FXTM. Several account types are offered, and a low minimum deposit and fully digital account opening serve to get started with trading in no time. A huge selection of educational resources and 24/5 customer support help traders make the most informed decisions. You will find that there are lots of funding options which can be used for convenient deposits without any fee. Negative balance protection and FCA’s strict regulation both make FXTM an ideal choice for traders who are looking for a safe trading environment. Apart from spreads, the account types and range of instruments is basically a summary when it comes to the differences between the MetaTrader 4 trading platform and the MetaTrader experience.
On the plus side, we found FXTM to have solid global regulation and an impressive number of different account types. However, we were a little disappointed that they do not offer their own trading platform and you are confined to using MT4, plus trading spreads are not particularly competitive. But the education offering is very strong, whilst the research offered is above industry standard. FXTM is committed to educating traders, with a thorough and extensive educational centre that includes free eBooks and videos. They cover a wide range of topics for all levels of traders including trading strategies, trading tools, technical analysis and more.
Between 74-89% of retail investor accounts lose money when trading CFDs. FXTM provides an excellent research section, including Market Analysis Videos, a Forex News Timeline and an Economic Calendar. FXTM also has an online education section offering forex guides and tutorials, eBooks, educational videos and articles, and a forex glossary. There is a small withdrawal fee levied on credit card and bank transfers. We prefer a broker that offers free withdrawals, regardless of method, and there are some available.