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. In addition to MetaTrader, FXTM has its own FXTM Trader App, available for download on devices with Android and iOS. With over 250+ products to trade, the FXTM Trader App keeps the markets at your fingertips.
FXTM Educational Resources and Other Features
Once users are up to speed on a demo account, they can easily switch to a live version. For those looking to engage in various trading strategies, from scalping to swing trading, FXTM provides the necessary tools and conditions. Their video back library from past recorded webinars was once extensive, providing a wealth of knowledge for those new to trading or looking to deepen their understanding of markets and trading tools.
ECN ✔
FXTM periodically hosts trading contests that are open to traders of all skill and experience levels. Just for signing up and opening a live account, you can receive a $30 (or equivalent) trading credit. In order to actually receive the credit, you must finish your registration and make a minimum account deposit in the first six months. It requires a minimum initial account deposit of £25,000 or equivalent. Since its launch in 2011, FXTM as a platform and as a brokerage has been uniquely positioned to learn early and well from all of Alpari’s earlier mistakes, and in truth it has.
Does FXTM have an inactivity fee?
Furthermore, I found them to have very competitive trading conditions including tight spreads, low commission fees and rapid trade execution speeds. I like that you can get access to plenty of tools to enhance your overall trading experience and excellent customer support. There are multiple accounts options to choose from depending on your trading strategy. Each account carries different specifications in terms of trading fees, minimum deposit, and tradeable assets.
Here you will compete with other traders and you have the chance to win real prizes. When it comes to trading costs with this account type, spreads start from an excellent value 0.1 pips along with a $2 per lot traded commission. FXTM works to offer some of the best copy trading services in the industry through their FXTM Invest platform. Here you can choose from hundreds of quality signal providers who are FXTM traders also known as strategy managers to copy. Even as an Islamic trader you can access this account type through a swap-free account that is fully Shariah law compliant. Overall, if you can stand the higher spreads, it is a great entry-level account for you to start trading easily.
What trading platforms does FXTM offer?
- We do not provide financial advice, offer or make solicitation of any investments.
- Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons.
- The offering of tradeable products is not particularly impressive, given the strong position FXTM holds in the industry.
- For Standard accounts, FXTM’s commissions are part of the floating spread, which varies with market conditions.
- The FXTM support system is available in a total of 10 languages to cater for traders worldwide, and also offers an extensive FAQ section to help in answering some of the most frequently asked questions.
Concluding the fxtm broker review FXTM review, we admit that FXTM gives quality trading potential for both beginners and experienced traders or investors and FXTM is one of the leaders in Forex Trading. Moreover, there are other numerous advantages with FXTM, like great global coverage with a good focus on the Africa region with FXTM Nigeria and Kenya trading opportunities. Whether you’re just starting out as a forex trader or have been trading for years, FXTM can fit your needs and provide excellent forex brokerage services regardless of your level of expertise. FXTM processes most withdrawals within 24 hours, but it may take up to five business days for clients to receive their funds, dependent on the payment processor.
FXTM Trading Signals
When it comes to trading signals, Autochartist and Trading Central would be my preferred tools. Unfortunately this broker doesn’t have them but GO Markets do provide both free of charge. Whilst the majority of you would probably get by with the platform tools, it is always nice to have some more at your disposal and helps the broker standout form the competition. The FXTM Invest Strategy Manager account is a relatively new offering. FXTM’s copy trading program allows less skilled forex investors to mirror your trades and then you earn a percentage of their profits.
I also like the upgraded MT4/MT5 trading platforms and overall transparency at FXTM, which I confidently rank among the very best Forex brokers. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
- 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.
- For traders on the move, FXTM provides mobile applications compatible with iOS and Android operating systems.
- I have found them to be excellent when it comes to support, always quick and helpful in their responses.
- Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions.
- Beginners can start with introductory guides to forex trading and CFDs, while more experienced traders can delve into advanced resources on specific trading styles like scalping.
As you may be aware, forex trading is increasingly popular in Africa, with Nigeria second only to South Africa as the country with the highest number of retail forex traders on the continent. This broker is considered a good option for Nigerian forex traders who are generally in need of a respected international broker that caters to their specific needs. Brokersway is a website that provides unbiased reviews, ratings, and comparisons of online forex and CFD brokers.
Some brokers I use, like eToro, have developed platforms that incorporate social trading features, enabling users to follow and copy the trades of experienced traders. This could attract novice traders looking for more guidance and community engagement. 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.
We are committed to transparency, accuracy, and comprehensive insights. The platform supports trading through a desktop application (Windows, macOS), mobile devices (iOS, Android), and a web version. For automated trading, the platform uses the MQL5 programming language, allowing the development of Expert Advisors, scripts, and indicators. MT5 includes a strategy tester with multi-threaded testing capability on real historical data. For Standard accounts, FXTM’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Standard Account Fees
Clients are presented with various trading accounts designed for both novice and professional traders. For investors, the broker rates its managers based on various factors including their risk levels. Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights.