FXTM

Rating: 84%

Min Deposit

$ 5

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Last Updated:Feb 13, 2024

FXTM Forex Review - Key Features of the FX Broker

FXTM is an online trading platform and global broker with 10 years of excellent trading under its belt.

This broker is available across the globe and allows traders from all over the opportunity to trade various financial instruments ranging from FX to metals, indices, and commodities, to mention a few.

A look at its official website and you will realize that the broker supports multiple platforms, including MT4 and MT5. The FXTM trading platform also provides trading tools and educational guides to familiarize new traders with the key aspects of trading. In this Fxtm.com review, we will discuss all you need to know about the broker and help you decide if it’s right for you.

Low trading commissions and fees
Readily available educational tools and guides
Low minimum deposit
Multiple types of trading accounts
A first-deposit bonus of up to 30%
Low spread (starting from 0-1.5 pips depending on the account)

FXTM Summary

FXTM broker is a top-notch trading provider with over 4 million clients across the globe thanks to its trading services, immense trading knowledge, and state-of-the-art security.

When opening an account with FXTM, you can start with deposits as low as $10. There are different trading accounts to choose from, based on your experience level and trading needs.

Our FXTM broker review shows that it supports multiple trading platforms such as MT4 and MT5 to help you trade seamlessly while on the go. The FXTM pro account offers ultra-low spreads but requires a minimum account balance of 25,000 EUR/USD/GBP.

Licenses

FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295. This makes it a trusted trading provider across the globe.

Platforms

FXTM provides two platforms in MT4 and MT5 to enable you to trade seamlessly while on the go. These platforms are quite easy to understand and navigate, so you should have no problems trading any asset of your choice.

Privacy and Protection

FXTM is regulated by highly rated bodies. Apart from this, it has also put in place measures to ensure that your data is highly protected and can’t be accessed by an unauthorized user.

Spreads/Fees

FXTM has very low spreads, ranging from 0.0 to 1.5 depending on the type of account you are opening. In addition, the fees are quite low and affordable, especially when compared to those of competitors.

Mobile

FXTM has a great mobile trading feature that lets you trade straight from your phone using the FXTM trader app. While using this app, you can be assured of zero commissions and even spreads as low as zero on major FX pairs and gold, which is quite amazing.

Customer Care

FXTM’s customer service is easy to access and provides adequate support for all queries. It is available 24 hours from Monday to Friday. Users can get access to customer care services via phone, email, or live chat features.

Regulation and Investor Protection on FXTM

Investor protection is an important part of every forex provider, which is why it is something you have to be on the lookout for before choosing a broker.

FXTM states that users’ data can be shared with government entities under its strict confidentiality according to the laws of the jurisdiction it is operating in. However, the broker states that it doesn’t share any of your information with an unauthorized party.

As a client of FXTM, you have the right to ask for the erasure of your data, request the restriction of your data, request access to and correction of your data, and obtain your data for your private purposes.

Finally, FXTM ensures that it keeps your funds entirely separate from its operational funds in various top-tier banking institutions. This is a security measure to ensure that users’ funds are protected.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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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Tradable Assets on FXTM

FXTM trading platform provides over 1,000 financial assets, which makes it quite versatile and appealing to various traders around the world.

These assets include stocks, indices, stock baskets, commodities, FX, FX indices, and stock CFDs.

To be more specific, FXTM has financial trading assets that are generally grouped into three major categories:

Forex

Forex
FX indices

Metals and spot metals

CFD commodities

Stocks and indices

Stock trading
Stock CFDs
Stock baskets
CFD on indices

Apart from these assets, FXTM has multiple trading platforms, which include MT4 and MT5. These platforms are known to offer traders the opportunity to trade in real time and, at the same time, monitor market movements.

While both MT4 and MT5 are amazing platforms, there are quite some differences between the two, and it is important that you know what they are before choosing to trade on either one of them.

The table below clearly states their differences:

	MT4	MT5
Order execution types	3	4
Partial-order filling policies	No	Yes
Order fill policy	Fill or kill	Fill or kill immediate or cancel return
Pending order types	5	6
Netting	No	Yes
Hedging	Yes	Yes
Market depth	No	Yes
Technical indicators	30	38
Graphical objects	37	44
Time frames	9	21
Economic calendar	No	Yes
Email system	No (without attachments)	Yes (with attachments)
Strategy tester	Single-threaded	Multi-threaded +Multi-currency +Real tick
Embedded MQL5 community chat	No	Yes

Pros

Excellent customer service
Great educational tools and videos
Availability of multiple accounts tailored to trader experience

Cons

No cryptocurrency trading
No futures or options trading

FXTM is a top-notch trading provider that allows traders to trade in a wide variety of financial instruments, ranging from forex and stocks to commodities.

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FXTM Video

No Commission and Low Spreads

FXTM considers commissions to be service charges that are to be paid to it by traders for handling their trades. The interesting part is that FXTM forex does not collect any commission fees on two of its accounts, which are the Micro account and the Advantage Plus account.

However, you will be required to pay a small commission on the Advantage account. On average, this ranges from $0.40 to $2 per $100,000 notional value.

This fee is mostly centered around FX and CFDs, so you won’t be paying any commissions on US stocks and spreads. While trading with FXTM, the more you transact and build your account’s net value, the lower your commission fee. This type of commission is often referred to as a “floating commission.”

A spread is seen on FXTM as the difference between the ask price and the bid price on each trade you make. However, just like the commission, FXTM forex tries to offer low spreads. At the moment, some FX Majors have zero spreads on the Advantage account. Finally, you will be required to pay or earn swap fees while trading. Generally, FXTM considers this swap fee to be the interest that you earn or pay for a trade that you keep open overnight.

There are two types of swap fees: Swap short to keep short positions open overnight and Swap long to keep long positions open overnight. The interest you pay will vary depending on what you’re trading.

FXTM Account Types

Opening a FXTM account is quite easy, but first, you will need to understand the different types of accounts offered so you can make the right choice based on your trading experience.

FXTM offers 3 account types, which are:

Micro account
Advantage account
Advantage Plus account

Micro Account

This account is best suited for beginners or traders who are risk-averse. With a Micro account, you can invest little capital and still gain real market experience. All you need is a minimum of $10 as a first deposit and you can begin trading in forex, commodities, metals, etc. in no time.

Advantage Account

This account is the most popular account among traders on the FXTM platform. It has zero spreads on some of the most popular FX pairs and as low as zero on gold/US dollar (XAUUSD).

In addition, you get to enjoy zero commission on US stock trading on the MT5 trading platform.

Advantage Plus Account

With the Advantage Plus account, you have all of the benefits of the Advantage account plus an extra benefit of zero commissions. This makes your trading experience even better.

Having taken a look at the different types of accounts offered by FXTM, it is time we take a look at how you can open an account on the platform. Here are the steps below:

Step 1

Head to the FXTM website and click on “Open account” at the top right corner of the homepage.

Fill out a form with your name, country of residence, phone number, and other information.

Step 2

You’ll be asked to confirm your phone number via WhatsApp and email or SMS and email.

Step 3

Select one of the two options in Step 3 and, once done, a PIN will be sent to you.

Step 4

Enter the PIN on the form and then click on “Register”.

Once registered, you will be logged in and directed to the “My Accounts” page. Proceed to open an account by choosing one of the 3 account types offered by FXTM.

Step 5

Here you will be asked to complete the account application form, after which you will click “Submit”.

After submitting, you will be redirected to your account page, where you can now make a deposit and begin trading.

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Payment Providers at FXTM

When it comes to deposits on FXTM, you do not need to pay any fees. Furthermore, FXTM offers a wide variety of deposit and withdrawal methods, which include crypto, local payment options, bank wire, debit cards, credit cards, and e-wallets. In terms of minimum and maximum deposit amounts, FXTM makes it clear that the limits for these are set by each payment provider. You can find the FXTM deposit minimum and maximum for each method in MyFXTM.

FXTM states that for clients who reside in Nigeria, there is a minimum deposit requirement of $/€/£100 or ₦40,000 for Standard accounts, $/€/£200 or ₦80,000 for ECN Zero accounts, and $/€/£200 or ₦80,000 for ECN accounts.

For clients who reside in South Africa, there is an FXTM Standard account minimum deposit requirement of $/€/£100, $/€/£200 for ECN Zero accounts, and $/€/£500 for ECN accounts. For clients who reside in Tanzania, Ghana, and Kenya, there is a minimum deposit requirement of $/€/£200 for ECN accounts.

As for minimum and maximum withdrawal amounts, FXTM makes it clear that you can withdraw as much as you like, as long as you use the same payment method that you used to deposit funds.

Take note, however, that if you still have open positions, you’ll need to leave enough free margin in your account to cover the withdrawal and any extra fees that may occur.

Deposit Method	Deposit Processing Times	Min Deposit	Withdrawal Procesing Times	Min Withdrawal
Credit / Debit cards	Instant 24/7	$5	24 hours	$5
eWallets	Instant 24/7	$5	24 hours	$1
Bank Wire	One business day	$0	24 hours	N/A

*18+ T&Cs apply to each offer.

FXTM Funds Protection

Like most forex brokers, FXTM collects your information as required by regulatory bodies. However, the broker states that this information is kept confidential and not shared with unauthorized entities.

As a client of FXTM, you have the right to ask for the erasure of your data, request restriction of your data, request access to and correction of your data, and obtain your data for your purposes. The broker keeps your funds entirely separate from its operational funds in various top-tier banking institutions.

Lastly, FXTM uses the SSL (Secure Sockets Layer) network security protocol to guarantee a secure connection in all communications with you, protect your safety during transactions with them, and keep all your information private.

Desktop and Web Trading Platforms

If you are looking to trade via the web, FXTM has got you covered as all you need to do is make use of MT4 or MT5 with WebTrader. You do not even need to download any software as everything you need to get started is online.

In addition, FXTM offers an amazing opportunity for traders to trade via their desktops, which allows them to explore the financial markets on either a Mac or a PC. You’ll get the full technical analysis toolkit on both systems; it just depends on which one you prefer to use.

Let us take our forextime.com review further by looking at the features below:

Features of MT4 and MT5

Features	MT4	MT5
Markets	FX, commodities, CFDs, and indices	Major global stocks, stock CFDs, FX, commodities, and indices.
Real-Time	Yes	Yes
Technical Indicators	30+	80+
Accounts	Live and Demo	Live and Demo
VPS Trading	Yes	Yes
MQL4/MQL5	Yes	Yes
Price Charts	Easy-to-read, interactive charts	Detailed and interactive charts
Languages	Available in over 20+ languages	Available in over 20+ languages
Multi-Account Manager (MAM)	Yes	Yes
Free to Download	PCs, Macs, smartphones, and tablet	PCs, Macs, smartphones, and tablet
Powerful Security System	-	Yes
Commission-Free US Stock Trading	-	Yes, on our Advantage and Advantage Plus accounts

Trading on the Go with FXTM

FXTM has made the FXTM trader app readily available. It gives you the most immersive trading experience at low spreads and zero commission fees. With the FXTM trader app, you can trade seamlessly and also monitor the market movements while on the go.

If you have a diverse portfolio, the FXTM trader app is a great opportunity to constantly monitor the performance of your assets right on your phone without any hassle.

If you are a first-time trader looking to trade on mobile, here are the steps you can take to do just that:

Android
iOS

Step 1: Download the MetaTrader app via the App Store or Google Play.
Step 2: Register for a MyFXTM profile or log in if you already have one.
Step 3: Check what your trading server is under “Accounts Overview” (if you don’t already have a trading account with FXTM, open one under “Open New Account”).
Step 4: Locate your trading server, log in with your trading account password, and begin trading.

FXTM Educational Resources and Other Features

FXTM has amazing trading features that make it unique among its competitors. For one, FXTM has over 1,000 trading instruments with very low commission fees and low spreads, making it preferable to a lot of forex producers in the market. The broker has a good combination of trading tools, such as a pip calculator, a profit calculator, and a margin calculator. It also has good educational resources that new traders will find particularly interesting.

These resources include forex trading for beginners, CFD trading for beginners, daily market analysis, and even videos to educate new traders. Finally, there is the FXTM Invest that mainly focuses on copy trading, providing an ultimate guide for traders who might be interested in grasping the fundamentals of this trading style.

Customer Support

FXTM has customer support that you can get in touch with via live chat, telephone, email, or the provided form on its website.

They operate 24 hours a day, Monday to Friday. On Saturdays, they are available from 11:00 to 16:00 GMT, while on Sundays, they are available from 12:00 to 20:00 GMT.

Our ForexTime review shows that you can contact them via the main hotline: +357 25 55 8 777.

They are quite responsive and friendly, and they treat each query with equal importance and solid effectiveness.

Live Chat

Yes

E-Mail

[email protected]

Phone

+357 25 55 8 777

FXTM is available in the following languages:

English

Additional Benefits of Using FXTM

FXTM has a full library, eBooks, trading videos, and a glossary that provide a wealth of knowledge to both new and experienced traders.

This way, it is quite easy for you to grasp the fundamentals of trading and even test your trading skills via your FXTM demo account if you are willing to explore the trading market.

Visit “FOREX BROKERS ACADEMY” for more information.

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Trusted Forex Broker

FXTM was awarded The Best Educational Program and The Most Trusted Forex Broker for the year 2022 by the World Financial Award. It was also awarded The Best Online Trading Platform for the year 2021 by World Business Outlook. This is only a small part of the many awards the broker has received over the years.

The Most Trusted Forex Broker 2022

World Financial Award

The Best Online Trading Platform 2021

World Business Outlook

FAQs

What Is the FXTM Trading Account Minimum Deposit?

FXTM has 3 different trading accounts that traders can choose from and trade with based on their trading experience. There are 3 types of accounts: Micro, Advantage, and Advantage Plus. The minimum deposit amount is $10 for a Micro account, $500 for an Advantage account, and $500 for an Advantage Plus account.

Is FXTM Reliable?

Like most regulated financial service providers, FXTM tries its best to maintain quality service and protect its clients. The platform is regulated by the relevant authorities and this makes it easier to hold the broker accountable in case of any fraud or unjust treatment. However, financial trading comes with risk and this is something every trader should be aware of before using any broker, including FXTM.

Is FXTM a Good Broker?

Whether or not FXTM is good depends on your trading needs. For example, if you trade crypto, then you should find out more about the FXTM Bitcoin spreads and commissions before deciding whether it suits you. The broker offers competitive spreads and multiple account types to help cater to the needs of a variety of traders.

Is FXTM Legit?

FXTM is regulated by multiple regulatory bodies in different jurisdictions, giving it the legitimacy to operate therein. The broker strives to observe the best practices while serving its clients, making it a reputable platform. Before using FXTM, make sure that it’s approved by the regulatory agencies in your region, as this ensures your capital is protected.

How Do I Become a Verified Client on FXTM?

You will become a verified client on FXTM once you have submitted the following documents for verification: - Passport, national identity card, or driver’s license as proof of identity. - Bank/card statement or utility bill as proof of address. Examples include water/gas/electricity/internet/telephone bills, residency certificates, and tenancy agreement.

Conclusion

This FXTM forex broker review shows that it is a regulated broker that provides access to several financial assets. The platform is user-friendly and has a solid interface, making it easy for traders to navigate. It has over 1,000 trading assets and multiple account types to serve different clients depending on their trading style and experience. If you’re looking for a broker to trade the financial markets, then FXTM might be right for you. Before deciding, make sure you compare the features of the platform as discussed in this FXTM review and ensure it meets your trading needs.

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