73.05% of retail investor accounts lose money when trading CFDs with this provider. 71% of retail investor accounts lose money when trading CFDs with this provider. 67% of retail investor accounts lose money when trading CFDs with this provider.
This is achieved by ensuring that traders regardless of their trading experience, have all their trading needs met. The fact that FXTM has won numerous awards bears testimonials to the quality of its services. With these mobile trading apps installed onto their smartphone, FXTM can trade from anywhere around the world where there is internet access. FXTM charges its clients a mix of spreads and commissions on the trades that its clients executed on its trading platforms. With the exception of the ECN Account, traders at FXTM enjoy commission free trades with very competitive spreads. In addition to the floating spreads accounts listed above, FXTM also offer 3 types of ECN trading accounts.
All in all, FXTM is regulated & safe choice for traders in Nigeria. We go beyond the quantities or amounts to make a real and measurable review that is based not just on the pros but also on the cons. All of the platforms were able to execute our Buy and Sell orders quickly and we never experienced any re-quotes even when markets are highly volatile. That is fast compared to how long other brokers process cash-outs which could take days or more than a week so we are giving them a Withdrawal Time score of 10/10. All the platforms have loading times of less than a minute and we find the designs to be well enhanced for trading. The Shares Account is obviously different to the other two Accounts as it relates to clients who only want to trade CFDs on Shares rather than Forex.
Depending on the payment processor, third-party fees for deposits and withdrawals apply. Final trading costs at FXTM decrease through the loyalty program. At FXCM, the overall pricing environment remains superior, despite a £50 inactivity fee. The full suite of the MT4/MT5 trading platforms is available, but FXTM enhances MT4 with six plugins. It results in a superior choice, however, the necessary third-party plugins required to upgrade the trading platform into a cutting-edge version remains missing. FXTM Trader is a proprietary trading platform for mobile phones only.
To use their demo account, you just need to register on the FXTM’s website. The demo account would give you access to FXTM’s MT4 & MT5 platforms where you can test your strategies & place your demo trades on currencies in the real market. Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for.
When we did the FXTM broker review, we found ECN accounts comprise ECN, ECN Zero, and FXTM Pro accounts which provide various spreads and commissions. The FXTM Pro account is aimed at more seasoned traders, such as professional and institutional users, and features faster execution speed, lower spreads, and more liquidity options. FXTM grants commission-free CFD trading in unleveraged accounts only. The Cent and ECN Zero versions commence with a minimum spread of 1.5 eur pips, lowered to 1.3 pips in the Standard account. 0.1 pips for a commission between $4 and $20 per round lot in the ECN MT4 account combine tight spreads with excessive commissions. A significantly more competitive cost structure exists at FXCM, where commission-free spreads start at 0.6 pips, reduced to 0.2 pips for a commission of $25 per $1,000,00 or $2.50 per lot. FXCM covers financial markets and trading-related topics through a series of well-written content.
If you are the owner of this platform you can manage this account. The platforms were built through different programming languages – MT4 was built through MQL4, while MT5 was built through MQL5. This means that additional programs and tools designed run on MT4, cannot run on MT5. The minority shareholder and managing partner of FXTM isOlga Rybalkina. She has worked in the forex industry for many years, initially starting her career in Alpari. In 2012, Ms. Rybalkina was promoted to CEO at FXTM, and eventually, in 2018, she became a Managing Partner at the group. Inactivity fee – they occur when an account has been inactive for a period of 6 months.
It has a clean and crisp layout and offers easy access to market updates, account administration and live trading. The ECN accounts comprise ECN, ECN Zero, and FXTM Pro accounts which provide various spreads and commissions. The FXTM Pro account is aimed at more experienced traders, and features faster execution speed, lower spreads, and improved liquidity. FXTM regulation consists of the FSC, FCA, and CySEC, versus FCA, AMF, ASIC, FSCA for FXCM. Segregation of client deposits exist at both brokers, but FXCM caters to more international clients from the unregulated Bermuda entity. FXCM, despite its checkered past, has been able to maintain a clean regulatory track record since 2017; however, FXTM presently offers a safer trading environment. Most international traders will trade with the unregulated Bermuda entity, where a competitive trading environment exists.
The UK branch was initially a successful venture and was a leading City forex broker. The company has several offices in different countries, including Cyprus. Alpari entered insolvency after devastating losses that occurred when the Swiss National Bank removed the franc’s forex cap against the euro, and the franc soared by almost 30%. We would like to have seen more features that break from the industry standard. The loyalty reward scheme is a big plus point but in other areas of the service this creative vision appears to be lacking.
Platforms & Tools
had bad service, struggled to get your money back or some other action which you believe is non compliant? Tell us and if we have the right information, we will actively support your case through mediation with the broker. The benefits of this promotion kick in Foreign exchange market as soon as you start trading through an ECN Zero or Standard Account, there are five levels to the scheme, with potential savings increasing through each level. ForexTime also provides a financial calendar facility, which has integrated news headline streaming.
This is a great facility that seamlessly builds relevant industry information into your browsing experience. Trading signals covering a range of instruments and scenarios are provided twice daily by ForexTime ; this FXTM Brokerage Firm review again being powered by their team of in-house analysts. FXTM is one of the easier sites to navigate, with an incredibly user-friendly and aesthetically pleasing interface that is responsive and easy to use.
As mentioned above, clients also have the ability to trade Commodities such as UK Brent, US Crude, US Natural Gas, along with Indices, specifically GDAX, AUS200, ND100M, UK100, and SP500M. A wide range of products are available to trade with FXTM, ranging from Forex, Spot Metals, CFDs on Shares, CFDs on Commodity Futures, and CFDs on ETFs and Indices. We love the FXTM Site, as it makes the services it offers very clear to the user, whilst also keeping a clean interface.
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There is no minimum withdrawal amount, and the only limitation is that funds must be transferred to an account with the same name as the FXTM account holder. FXTM does not have a proprietary platform but instead uses third-party platforms by MetaQuotes. We were delighted to see that FXTM offers both MT4 and MT5 to their clients. This is likely because it is not regulated here, and cannot process payments. If you visit the website for FXTM ( ) you will not be able to create an account. We will update this review if the status of FXTM for Canadians changes.
- If you are the owner of this platform you can manage this account.
- Our team of financial experts have years of experience in the foreign exchange markets and can guide you into focusing on the more important factors to look at in selecting a forex broker to sign-up for.
- The charity collaborates with NGOs such as the Cyprus Autistic Association, Cyprus Anti-Cancer Association, Cyprus Red Cross, and more.
- Beyond core platforms, the broker offers integration to FXCM’s acclaimed execution a specialty FXCM Apps offering an online marketplace where you can customize the trading experience.
- Most importantly, both of these trading platforms in desktop, web and mobile platforms with the provision of regular updates.
- The ECN Zero account does not charge commission; instead, the broker’s feed is integrated into the spread.
ForexTime offers standard MT4 mobile apps for iOS and Android-based mobile devices. The apps carry most of the functionalities offered by the full, downloadable version of MT4. They support 9 time frames, and come with 30 preinstalled technical indicators. In addition to offering the option of using MT4 or MT5 with your FXTM trading account, FXTM offers customers their proprietary FXTM MT4 WebTrader platform. This web based platform requires no download and can be accessed directly from any browser. The WebTrader platform supports all operating systems and has a simple to use interface available translated into 16 different languages. FXTM has a straightforward, standard account opening procedure.
What Is Minimum Deposit For Fxcm Account?
As a trader you will definitely enjoy attractive offerings from the broker, along with the splendid technical development and a variety of tools to use. Fresh trading graduates can count on a company tool support while building your own strong trading strategy.
81% of retail investor accounts lose money when trading CFDs with this provider. The award-winning FXTM brand was created in 2009 by Andrey Dashin. His vision was to produce a broker suitable for traders of any level. The broker is fully licensed and regulated by several regulators including CySEC and the FCA. Despite the fact that FXTM is a fairly new broker, it already holds a solid position in the industry. This is definitely due to their experienced management team that understands the needs of their clientele, strongly abides to regulations and focuses of the security of their clients’ investments and funds. MT4 has a simple interface that is familiar to most forex brokers as the platform has been around since 2005.
With the EUR/USD pair, you may enjoy spreads for as low as 0.1 pips which means you are charged less for each trade. The Advantage Plus account is popular with traders looking for commission-free trading. It also features a minimum deposit of $500, but it does not charge any commissions.
They consist of the ECN Zero account, the ECN Account and the FXTM Pro Account. There are several differences between the Standard Account Types available, but the most important ones for newbie traders are the Minimum Deposit and the Spread. For withdrawals, the client fills out a standard request form that is generally processed within two business days.
Fxtm Standard Accounts
Most importantly, the support team is available 24 hours a day, 7 days a week, and can provide customer support in multiple languages. Extra convenience is ensured by the chats being offered through a range of mainstream messaging systems. ForexTime is also well known in the industry for the forex contests it regularly runs. Besides an opportunity to win cash prizes, these competitions are a great way for users to test strategies in a fun, friendly, and low-risk environment.
FXTM provides higher leverage, but FXCM implements a significantly more competitive cost structure. FXTM maintains a leadership position in emerging markets, and the overall product and services selection is acceptable. FXCM features enhanced auxiliary trading services, on top of an excellent core trading environment, with extended support for automated trading solutions.