FXTM Review – Trade hundreds of assets today
FXTM is one of the best-known Forex brokers in the market today. Established in 2011, this Forex broker is home to over 3 million active traders. Over the past decade, FXTM has proved over and over again that it is a leading online brokerage company. It has managed to win over 25 awards and has been named as the leading broker in the market by many outlets.
Safety and security is the top priority of the team behind the broker. It has been proved by the broker many times that they are doing their best to guarantee the safety and security of their clients. The services of FXTM are available in over 180 jurisdictions globally, making it a true market leader.
To be able to offer services to so many jurisdictions around the world, the broker has registered in numerous countries. It owns licenses from leading regulatory agencies around the world, making it a trustworthy and legit Forex broker.
Today, we have decided to review FXTM and dive deep into everything that this brokerage has to offer to traders. So, follow our detailed review of the broker and see how it really works and what it has to offer to you.
Is FXTM a legit broker?
Yes, FXTM is a completely legit Forex broker. The Forex broker has partnered with leading regulatory bodies of the world to create a place where traders can enjoy a very high level of security. Our review of FXTM shows that the broker owns licenses from leading regulatory bodies of the world.
Among the licenses that FXTM owns are top-tier regulators that are a guarantee the safety and security of your funds. The broker is licensed by the following regulatory bodies:
- FSCA of South Africa
- CySEC of Cyprus
- FCA of the UK
- FSC of Mauritius
All of these regulatory bodies give the broker the ability to offer services in numerous regions of the world. In total, the services of the broker can be used in over 180 countries. In total, the broker has over 3 million active users. This makes FXTM one of the most popular online Forex brokers in the world.
Reviewing FXTM – Licenses & regulations
The most important thing that every trader should keep in mind is the safety and security of their funds. To be able to safely trade Forex, you have to only do business with regulated Forex brokers. FXTM is certainly among heavily regulated Forex brokers. Because there are so many jurisdictions that regulated the broker, its services are considered to be very safe and secure.
Thanks to the license from the Cyprus Securities and Exchange Commission, the broker is able to offer its services to the whole European region. This is possible due to the MiFID II directive, which was adopted by the European Parliament to make the financial markets more coherent. CySEC is one of the most popular regulatory bodies around the world, offering a very high standard of safety and security to Forex traders.
Since the broker has a license from the European regulator, CySEC, it is able to offer services to the whole European region. Because of this, if you are a trader from any EU-member country, you will be able to start trading with FXTM.
The broker also owns a license from the Financial Sector Conduct Authority of South Africa, which is one of the main regulatory bodies of the whole African region. South African regulator is among the strictest regulators of the region, making the services of the broker safe and secure.
The broker is also licensed by the Financial Services Commission of Mauritius, which gives the broker international exposure. Although this regulator is not as strict as the others, it still provides a very high level of safety and security.
Another regulator that takes care of the services of FXTM is the Financial Conduct Authority of the United Kingdom, which is probably one of the strictest regulatory bodies around the world. Thanks to this license, the broker is able to offer services to Forex traders from the UK.
FXTM review – Trading features
The services and offerings of FXTM are very competitive, which makes it one of the main things that make FXTM a leading Forex broker. The team behind FXTM has worked very hard to come up with services that can be very useful for traders of all backgrounds. No matter what your level of experience in Forex trading is, FXTM has something to offer you.
There are numerous trading assets available on FXTM, among which you can find Forex currency pairs, indices, commodities, cryptocurrencies, stocks, and many others. Trading of such diverse assets at FXTM is possible thanks to CFDs trading, which gives traders access to a lot of trading assets.
You can trade most of the assets at FXTM without the need to own them. CFDs give you the ability to trade assets by speculating on the price movements in the market. The trading conditions of the broker are very competitive. Depending on the trading account you are using, the broker will offer you leverage that can go as high as 1:2000. However, keep in mind that the leverage can be limited depending on the asset as well as your location.
For example, European traders are not able to trade with leverage higher than 1:30. The broker offers more detailed information about the leverage that it offers on the official website. As for the commissions and spreads offered by the broker, they are very competitive in the market.
There are almost no fees applied to the deposits that you are making, as for the spreads, they can be as low as 0, depending on your account type as well as market conditions and assets you are trading. The only fee that traders should think about is the inactivity fee, which is applied to accounts that have been inactive for over 6 months.
Trading platforms offered by FXTM reviewed
When you are trading Forex, you will be spending most of your time using a trading platform. Because of this, it is very important to make sure that the platform you are using fits your needs and trading style. There are numerous trading platforms around the world, but this broker decided to offer traders the most popular ones. They are MetaTrader 4 and MetaTrader 5.
Both of them were created by the same Russian company called MetaQuotes. MetaQuotes released MT4 back in 2005, and since then, it has forever changed the way people trade Forex. MT4 is the leading Forex trading platform in the market, used by a huge majority of all Forex traders.
Among many advantages that it offers to traders, it also features Expert Advisor, which can help you better trade Forex. The platform also offers traders numerous trading indicators, that were created to make Forex trading easier for everyone. Thanks to the MT4 technical indicators available at FXTM, you can analyze the market in just a few clicks.
MetaTrader 5 is also a very popular platform among the clients of FXTM. MT5 was released in 2010 and offers additional services to traders. This includes access to numerous other trading assets, such as stocks, crypto, etc. Both of these trading platforms are very similar to one another, however, there are still some differences between them. Depending on the account that you are using, you will be able to use any one of these two. Some account holders can use both of these platforms.
Steps to get started at FXTM
Getting started at FXTM is very easy. First of all, you should decide which account you want to use, get registered, make your first deposits, and download the platform that fits your needs best. After doing so, you will be able to start opening and closing positions.
Creating a live trading account is not that hard, it should only take you a few minutes. However, keep in mind that the broker strictly follows the KYC, Know Your Customer policy, which means that you might be required to provide the broker with some documentation to prove your identity as well as location.
Reviewing FXTM account types
Choosing the right account that fits all of your needs in Forex trading is a very important step towards becoming a successful Forex trader. There are three major account types available at FXTM and many of them can be very useful for traders depending on their level of expertise. Among the available trading accounts you can find:
- Micro Account
- Advantage Account
- Advantage Pro Account
All of these three account types are very popular among the clients of the broker, but most of the traders prefer to go with the advantage account. This account is perfect for traders of all levels and offers numerous advantages for traders.
When it comes to commissions, the spreads at Micro account starts at 1.5, on advantage, it starts at 0, and on advantage plus, the spreads are from 1.5 as well. As for the commissions on deposits, Micro and Advantage Plus account holders pay no commissions, while Advantage account holders pay a commission of $0.40-$2 based on the volume.
Among the main differences between the account types is also access to the trading platforms. Micro account holders are only able to access MetaTrader 4, while Advantage and Advantage Pro account holders can access both, MT4 and MT5. Because Micro traders can’t use MT5, they have some limitations when it comes to the assets they can trade.
Depending on your level of expertise, any of these trading accounts can be very useful. If you do not have any experience in Forex trading, this broker also offers you a demo trading account, which can be very helpful to further develop your trading skills.
Thanks to the demo trading account, you will receive a certain amount of virtual cash from the broker, which can be used to trade Forex. This way, you will be given the ability to test out different types of trading strategies and see which ones work best for you before you start investing with your actual funds.
Deposit & withdrawal methods available at FXTM
While reviewing FXTM, we found that the broker offers numerous payment solutions to Forex traders. Thanks to such diverse offerings, anyone can find a payment method that works for them. Because the broker accepts clients from different parts of the world, the available payment methods are also very diverse.
It includes traditional payment solutions such as bank transfers and credit/debit cards, as well as modern payment methods including Netteller, PerfectMoney, and Skrill among others. Depending on the payment method that you are using, you might have to wait for some time for the payment to be processed. However, in most cases, the payments are processed in no time.
Learn more with FXTM’s educational material
Among many other offerings. of the broker, it also gives traders access to very useful educational material. This is a very important thing for Forex traders who want to learn more about the market and grow as traders. FXTM review shows that the educational material that the broker offers is very useful and offers a very detailed insight into the Forex trading market.
The broker offers traders guides, articles, videos, webinars, as well as other material that can be useful for traders in the process of becoming more successful in the Forex trading market.
The customer support team of FXTM
The Forex broker has a very skilled customer support team, that is always ready to help you out. No matter what questions you might have, the customer support team is always ready to help you. There are numerous ways you can contact the customer support team of the broker.
You can use the online chat that is available on the website, use email, or call the customer support team directly. Depending on your location, there are several customer support hotlines available.
FXTM – Final verdict
After reviewing FXTM and its services, it is safe to say that this company is among the best Forex brokers available in the market. Established in 2011, FXTM offers traders a new level of safety thanks to the regulatory framework that it has to follow. The services of the Forex broker are available in over 180 countries and it is licensed by 4 different regulatory bodies, making it a safe Forex broker.
It offers traders access to numerous assets through MT4 and MT5 trading platforms. The trading conditions of FXTM are also very competitive, which makes it a great Forex broker to start trading with.