This average customer rating is based on 1 FXTM customer reviews submitted by our visitors. FXTM’s detailed articles, introductory videos, and e-books on fundamental trading concepts and market analysis can benefit beginners. Another potential addition is TradingView, probably the best web-based charting and analysis platform in my opinion due to its robust community features and user-friendly interface. Watch my video walkthrough of the FXTM app below to get a real feel for the design and features. FXTM offers a modest range of CFDs compared to many brokers we’ve evaluated. While many e-wallet withdrawals are fee-free, bank wire and credit card withdrawals may incur charges.
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Honestly, the spreads aren’t as tight as I would like and the charges can be high when withdrawing. Forex investments are essentially tax free due to ‘speculative risk’. They offer copy trading services through their own dedicated FXTM Invest platform where you can get started with a minimum deposit of $100.
It provides a more robust set of tools, including more timeframes, detailed and interactive price charts, and 80+ technical indicators. MT5 also enhances order execution speed and provides additional order types, offering greater flexibility for traders. A key feature of the platform is its improved strategy tester, which allows traders to backtest and optimize automated trading strategies efficiently. The Web Platform provides traders with a flexible and user-friendly trading experience accessible directly through a web browser. Built on MT4 infrastructure, the platform offers seamless functionality without requiring any downloads, allowing users to trade from any computer with internet access. Like many forex brokers, FXTM also try to offer some of their own proprietary choices when it comes to trading platforms.
- FXTM offers a variety of extra tools aimed at improving the overall trading experience.
- The support team generally responds quickly on live chat, and users report positive interactions with knowledgeable representatives.
- In our review of FXTM, we found that it offers a disappointing range of financial assets compared to other similar brokers.
- The $7.0 commission for a 1 Lot trade on the Advantage Plus account compares well against industry standard commissions of competitors.
- FXTM has a trust score of 60, based on its regulation, reputation, and reviews.
- So, it provides traders with the mobile version of all the available trading platforms — MT4, MT5, and FXTM Trader.
Does FXTM have fees?
Also, the time taken to execute orders is lesser compared to other major brokers since the orders are executed on a real time market basis. The mobile versions of the MT4 and MT5 trading platforms are designed to suit people who want to monitor the market on the go. They allow traders to buy and sell various financial assets from the convenience of their mobile handheld devices. The platform is replete with a suite of advanced trading tools, such as technical indicators, trading signals, and more. There is nothing to lose when you trade with the mobile versions of the MT4 and MT4 since the mobile apps offer the same features and functionalities as the desktop platforms. The broker provides traders with the intuitive MetaTrader 4 trading platform, which was developed by MetaQuotes Software.
Trade Like a Pro, Backed by One
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. FXTM offers clients the opportunity to trade over 250 financial instruments, all from MT4/MT5.
It is worth noting that FXTM permits opening of multiple live accounts. This is important since not all asset classes can be traded through every account type. FXTM offers access to 250+ instruments in seven major asset classes. Alpari launched back in 1998, at a time when online forex brokers were more of a curiosity than an industry staple. All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team.
When testing phone support, I experienced short wait times and received helpful responses. I asked a range of questions, from easy to difficult, and had a positive experience overall. I tested FXTM support via live chat and phone with dozens of inquiries over a two-week period. The MetaTrader Web Platform (Web Trader) is a slightly stripped-down version of the desktop platform.
All of these services have been tested and found to be responsive within an acceptable window of time. Telephone support was immediate, as was the website based live chat. These are points which reinforce the already positive reputation of FXTM customer support.
FXTM Desktop MetaTrader 5 Platform
It requires a minimum initial account deposit of £500 or equivalent. 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. FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand. Regulations are in place to ensure that the broker operates with the upmost fairness and integrity whilst they must comply to strict regulatory rules. Strict regulation in multiple jurisdictions can help to give clients peace of mind that they are using a trusted and transparent broker.
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In doing so, we often feature products or services from our partners. However, the opinions and reviews published here are entirely our own. FXTM offer bite-sized and accessible short educational trading videos to help you learn more about trading and the different concepts involved. I think those who are already well versed in trading probably won’t find anything new here.
FXTM has a wide variety of deposit and withdrawal methods for British traders, but we were disappointed that its charges high withdrawal fees. In our review of FXTM, we found that it offers a disappointing range of financial assets compared to other similar brokers. It also lacks other popular products such as futures, bonds, and ETFs. It offers a variety of learning tools such as eBooks, webinars, and video tutorials.
For traders who employ automated trading strategies, especially on MT4, FXTM offers a Virtual Private Server (VPS) service for continuous, high-speed connections. FXTM’s fee structure is generally competitive, especially since its spreads have been lowered, though it varies by account type, making it suitable for different trading fxtm review needs. It has advanced functionality like automated trading, but it looks and feels a bit dated.
- This could attract novice traders looking for more guidance and community engagement.
- If you’re a new trader, you really can’t go wrong with FXTM’s extensive learning resources.
- Therefore, you cannot withdraw more than you deposited using a card.
- They are written in great depth by their in-house specialists and cover a wide variety of topics ideal for both novice and intermediate traders.
- FXTM (ForexTime) was founded in 2011 by Andrey Dashin, already a key figure in the forex broker community thanks to his involvement with Alpari.
- The FXTM copy trading platform FXTM Invest is also offered in this category and provides a high quality choice for those who wish to engage in copy trading through the broker.
Join the conversation and discover insights that can help you navigate the exciting world of currency trading. FXTM offers two accounts, which is average compared to other brokers, but we were disappointed that FXTM’s trading fees are higher than other brokers on one of its two accounts. Stop loss hunting with large spread, unprofessional customer service, huge fees in withdrawal, and lots of dirty book tricks to make you unhappy. FXTM allows traders to expand their forex trading knowledge thanks to a plethora of educational content.
It’s simple to navigate, integrates real-time trading signals, and offers access to all major markets. With built-in trading tools, educational content, and smooth account management, it helps new traders build confidence from their mobile device. FXTM stands out with its honest and low-cost trading fees, including near-zero spreads and commission-free stock trading.
Also, we haven’t found any complaints against FXTM for existing traders in regard to withdrawal of profits. Almost all traders have found FXTM to be very timely in processing withdrawals or any investor concerns related to safety of funds. In this FXTM Nigeria review, we have compared their spread, platforms, safety & more. BestBrokers.com is free to use for everyone and it may earn a commission from some of the listed trading platforms with no additional cost to you. BestBrokers.com does not assume liability for the financial losses our readers can potentially incur while trading with the online brokers we shortlist. Readers should bear in mind online trading with leveraged derivatives carries a high level of financial risk.
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