Main Highlights
FXTM, also known as ForexTime, is a well-established broker in the forex market. Here are some of its main highlights or features:
1. Wide range of account types: FXTM offers various account types to cater to the needs of different traders, including Standard, Cent, Shares, ECN, and ECN Zero accounts. This allows traders to choose the account that suits their trading style and preferences.
2. Competitive spreads: FXTM offers competitive spreads on major currency pairs, which is beneficial for traders looking for cost-effective trading.
3. Multiple trading platforms: FXTM provides traders with a choice of different trading platforms, including MetaTrader 4 and MetaTrader 5. These platforms are known for their user-friendly interface, advanced charting tools, and reliable execution.
4. Educational resources: FXTM offers a range of educational resources to help traders improve their trading skills and knowledge. These resources include webinars, video tutorials, articles, and educational events.
Top Recommended Platforms
Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
5. Copy Trading: FXTM offers a copy trading feature called FXTM Invest, which allows traders to follow and copy the trades of successful traders. This can be especially useful for beginners or individuals who do not have the time or expertise to trade on their own.
Comparison with Top Competitors
Let’s compare FXTM (ForexTime) with two other similar platforms, XM and IG Markets.
| Features/Benefits | FXTM (ForexTime) | XM | IG Markets |
|---|---|---|---|
| Regulatory Body | FCA, CySEC, FSCA, FSC | ASIC, CySEC, IFSC | FCA, ASIC, MAS, and others |
| Platform(s) | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | IG’s proprietary platform, MetaTrader 4 |
| Asset Classes | Forex, Indices, Commodities, Stocks, Crypto, Metals | Forex, Indices, Commodities, Stocks, Crypto, Metals, Energies | Forex, Indices, Shares, Commodities, Crypto |
| Minimum Deposit | $10 | $5 | £250 or equivalent (as per 2021) |
| Execution Type | Market Execution, Instant Execution | Market Execution | Market Maker |
| Spreads | Fixed and variable, from 1.3 pips | Variable, from 1 pip | Starts from 0.6 pips |
| Maximum Leverage | Up to 1:2000 | Up to 1:888 | Varies by region, up to 1:200 for Forex |
| Demo Account | Yes | Yes | Yes |
| Customer Support | 24/5 | 24/5 | 24/5 |
| Education & Research | Yes | Yes | Yes |
Remember that Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Based on the comparison, FXTM offers competitive spreads, a wide range of account types, and extensive education resources, making it a strong competitor in the market.
Summary of Review
Here is a summary of the key features and highlights of FXTM:
1. Various account types to cater to different traders.
2. Competitive spreads on major currency pairs.
3. Multiple trading platforms, including MetaTrader 4 and MetaTrader 5.
4. Extensive educational resources to help traders improve their skills.
5. Copy trading feature (FXTM Invest) for easier trading.
Overall, FXTM provides a comprehensive trading experience with its diverse account types, competitive spreads, and user-friendly platforms.
Fees and Pricing Structure
FXTM offers different types of accounts, each with varying fees and pricing structures. Here is an overview of the fees and pricing structure for some of the account types:
1. Standard Account:
– Spreads: From 1.3 pips
– Commission: None
– Minimum Deposit: $100
2. ECN Account:
– Spreads: From 0 pips
– Commission: $4 per lot (per side)
– Minimum Deposit: $500
3. Shares Account:
– Spreads: From $0.10 per share
– Commission: None
– Minimum Deposit: $100
4. Cent Account:
– Spreads: From 1.5 pips
– Commission: None
– Minimum Deposit: $10
It’s important to note that fees and spreads may vary depending on market conditions and account type.
Safety Features
FXTM prioritizes the safety of its clients’ funds. Here are some safety features provided by the broker:
1. Regulation: FXTM is regulated by various financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
2. Segregated Accounts: Client funds are kept in segregated bank accounts, separate from the broker’s operational funds. This ensures that client funds are protected in the event of the broker’s insolvency.
3. Negative Balance Protection: FXTM offers negative balance protection, meaning that clients cannot lose more than their initial investment. This protects traders from potential losses that exceed their account balance.
FAQs
Q: Is FXTM a regulated broker?
A: Yes, FXTM is regulated by reputable financial authorities such as the FCA and CySEC.
Q: What trading platforms does FXTM offer?
A: FXTM offers MetaTrader 4 and MetaTrader 5, which are popular and widely-used trading platforms known for their reliability and advanced features.
Q: Can I start trading with a small deposit?
A: Yes, FXTM offers a Cent Account with a minimum deposit requirement of only $10, allowing traders to start with a small amount.
Q: Does FXTM offer educational resources for beginners?
A: Yes, FXTM provides a wide range of educational resources, including webinars, video tutorials, and articles, catering to traders of all skill levels.
Conclusion
In conclusion, FXTM is a reputable broker offering a wide range of account types, competitive spreads, multiple trading platforms, and extensive educational resources. Its commitment to client safety, through regulation, segregated accounts, and negative balance protection, further enhances its credibility. Whether you are a beginner or an experienced trader, FXTM provides the necessary tools and resources to support your trading journey.
